The Internal Revenue Service decided to target conservative groups for higher scrutiny while processing mainstream liberal groups without incident a review of IRS data shows. The IRS had already confirmed earlier allegations of political bias. As applications from conservative groups sat in limbo, groups with liberal-sounding names had their applications approved in as little as [...]

The International Consortium of Investigative Journalists has published a stunning amount of files related to offshore tax havens. The network is expansive including the super-rich in all their various forms from captains of industry to banksters to gangsters. Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation [...]

Jack Lew’s nomination for Treasury Secretary was already proving to be contentious but now questions are being raised on Lew’s personal financial activities. Lew reportedly made an offshore investment in the Cayman Islands that may have been an attempt to avoid taxes. Treasury secretary nominee Jack Lew will face questions at his confirmation hearing next [...]

As if more evidence was needed that Wall Street has rigged the game in its favor, the IRS is going to allow the banks that engaged in a massive nationwide program of mortgage fraud to write off their settlement: Consumer advocates have complained that U.S. mortgage lenders are getting off easy in a deal to [...]

While Congressional Republicans have claimed tax increases are off the table, Democratic leaders are floating an idea of increasing tax revenues by $1 trillion by closing loopholes and other changes to the tax code. From The Hill: Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later [...]

Let’s just stipulate something for the record. If the Congressional Budget Office were asked to step in and score John Boehner’s “Plan B,” it would score as an increase to the deficit by about $4.9 trillion over ten yeas. If CBO scored the Obama plan, it would score as an increase to the deficit by [...]

I just finished laughing from this spectacle on the House floor today. The House leadership tried desperately to pass “Plan B,” the main part of which was an extension of the Bush tax cuts on the first $1 million of income. In truth, all of the other giveaways in it would actually result in lower [...]

House Republicans will wait until tonight to pass “Plan B,” and while I think ultimately it will pass, the reason they’re waiting so long is that they have to figure out what to put into it to get conservative votes. Erick Son of Erick has a whip list of 34 no votes and 12 leaners, [...]

John Boehner may not even have the votes for today’s “Plan B,” a bill that effectively raises taxes on people making over $1 million a year. He was seen gladhanding on the House floor last night, whipping votes for his side. He can only lose 24 votes to reach 217 (there are a couple vacancies [...]

John Boehner just gave a “press conference” that clocked in at under a minute, where he took no questions and basically said that Democrats could either pass his “Plan B” proposal, which extends Bush-era tax rates on the first $1 million of income and does basically nothing else, or “be responsible for the largest tax [...]

For some reason, liberals are agonized by the fact that a Presidential press conference about gun safety legislation devolved into questions about the fiscal slope. As if this has never happened before, or that reporters are Constitutionally obligated to stay on topic. Or that the fisal policy of the world’s largest economy shouldn’t stay in [...]