9 Things The Rich Don't Want You To Know About Taxes - "4. Many of the very richest pay no current income taxes at all: Paulson made himself $9 billion in fees in just two years. His current tax bill on that $9 billion? Zero... 9. Other countries do it better: no one in Germany or the rest of the modern world goes broke because of accident or illness" (via) [more inside]
"Customers wanting a RAL paid Jackson Hewitt a $24 application fee, a $25 processing fee, and a $2 electronic-filing fee, plus 4 percent of the loan amount. On a $2,000 refund, that meant $131 in charges—equivalent to an annual interest rate of about 170 percent—not to mention the few hundred bucks you might spend for tax preparation."
Why Not a Negative Income Tax? "What kind of program could help protect every citizen from destitution without granting excessive power to bureaucrats, creating disincentives to work, and clogging up the free-market economy, as the modern welfare state has done? [Nobel-prize winning economist Milton] Friedman’s answer was the negative income tax, or NIT."
In Norway, Start-ups Say Ja to Socialism - We venture to the very heart of the hell that is Scandinavian socialism—and find out that it's not so bad. Pricey, yes, but a good place to start and run a company. What exactly does that suggest about the link between taxes and entrepreneurship?
A former magazine writer in his late fifties moves to San Diego and lives on very little money indeed. In the October 1977 issue of The Atlantic, he describes the stratagems behind his thriftiness. [more inside]
The Every Child Matters Education Fund, a non-profit organization that lobbies for better education and services for children, released a report (audio accompanies link text) this week that reveals that geography is as important as race and class in determining which children succeed, and which fail. The five highest ranking states, based on such factors as child poverty, infant mortality rates, juvenile incarceration rates and the like, were all in New England, with Vermont on top. The bottom five were all in the central South, with Louisiana coming in last... States with a high tax burden did a far better job of minimizing childhood poverty than low-taxing states. Via John Ibbitson in the Globe and Mail [more inside]