taxes

  • taxes

    Warren Buffett Opens His Kimono Ever So Slightly…

    …and gives Congress a glimpse of the silver tuna. Want to see the full enchilada? The golden goose? The cast-iron baby arm? El Chorizo? Then you’re gonna have to get some other deep pocketed guys and gals to show what kind of heat they’re packing. You do that and WB promises he’ll give you the […]

    / Oct 12, 2011 at 3:42 PM
  • News, taxes

    George Soros Can’t Wait For The Buffett Rules

    “As one of the people who will be directly affected by the proposed new rules, let me say that I wholeheartedly endorse them,” says George Soros of carried interest and Obama’s proposed Buffett rule, which would force those making more than $1 million to pay at least as much federal income and payroll taxes as […]

    / Oct 3, 2011 at 11:54 AM
  • taxes

    Oracle Of Omaha Was Saving ‘Buffett Rule’ To Describe Phenomenon Wherein Hot Young Things Are Attracted To Sagely Grandfather Types But Sure, You Guys Can Have This One

    Warren Buffett says he’s absolutely “fine” with President Obama calling the new plan to establish a minimum tax rate for individuals making more than $1 million a year the “Buffett Rule.” Reached Sunday in Omaha, Nebraska, the outspoken billionaire said the administration “asked me if they could use my name (on it) and I said, […]

    / Sep 19, 2011 at 10:29 AM
  • taxes

    People Don’t Live In Delaware. But They Keep Their Money There.

    Its beaches don’t compare with those of Bermuda or the Cayman Islands. You can’t ski there. But the most boring state in the union is best damned tax shelter on earth. The First State is finally first at something else, according to the Tax Justice Network. It’s the best place for non-Americans to hide from […]

    / Nov 2, 2009 at 4:56 PM
  • Barack Obama, Maria Bartiromo, taxes

    Bartiromo on Barack

    Maria Bartiromo has a stimulus plan of her own. But it’s a plan to stimulate the selling of assets instead of consumer spending. If you’ve got stocks or homes you want to sell, you should probably sell before Barack Obama gets elected, she seems to say to Avenue. Today Page Six reports that the Money […]

    / Jun 10, 2008 at 9:26 AM
  • taxes

    The Other Myth About Taxes, Revenues and Deficits

    We spent some time this morning talking about the myth of the always applicable Laffer curve and the supply-sideristas who always claim that tax cuts will be off-set by revenues from greater economic productivity. But we’re not Alan Greenspan—who famously doesn’t think it’s his job to think about how his comments on economic matters are […]

    / Oct 17, 2007 at 2:59 PM
  • taxes

    Where Are We On The Laffer Curve?

    The economist Murray Rothbard believed that the Laffer curve was one of the great myths of the Reaganite right, distorting Republican economic policy and distracting Republicans from the goal of reducing the size and scope of government. It was an economic idea that could be explained on a cocktail napkin, so it appealed massively to […]

    / Oct 17, 2007 at 11:34 AM
  • Private Equity, taxes

    Private Equity Tax Hike: Not Dead Yet!

    Stephen Schwarzman sits in front of the breakfast table. It’s not just any breakfast table. It’s the most important breakfast table in the world. It was built for John F. Kennedy by an Italian marble worker who died mysteriously during the cold war. Kennedy never ate at the table, however. He was assassinated too early. […]

    / Oct 10, 2007 at 9:05 AM
  • taxes

    Chuck Schumer Will Tax The Rich (But Not ‘Til After Next Year’s Election)

    Senator Schumer plans to introduce legislation to raise taxes on private equity executives, hedge fund managers and a slew of other rich people. “My intent is to raise the most revenue and do it in a fair way,” Chuck said. “My bill will certainly raise the taxes on people who not get 15 percent for […]

    / Oct 3, 2007 at 3:54 PM
  • Hedge Funds, Private Equity, taxes, The Hamptons

    SHAME Is Only Something Guilty People Feel

    There’s a lot of bitching and moaning going on, of late, about how hedge fund mangers like James Simons and private equity giants like (OXYMORON ALERT:) Stephen Schwarzman* make too much money. But bitching and moaning on their own only go so far, which is why, every once in a while, there has to be […]

    / Aug 30, 2007 at 11:57 AM
  • Private Equity, taxes

    Shocker o’ the Day: Private Equity Giving Less Money To Its #1 Enemy

    Are you rich? Do you want to stay that way? You are not alone. In a groundbreaking new study, the Wall Street Journal found that the 11 private equity firms that comprise the Private Equity Council are giving more money to the leading Republican presidential candidates than the Dems. Since January, Rudy Giuliani, Mitt Romney […]

    / Jul 17, 2007 at 10:37 AM
  • taxes

    Unbreaking: Bush Not A Fan Of Taxes

    With regard to a House bill that would swap the much-loved 15% tax rate loophole for a staggering 35%, White House flak Tony Snow said Wednesday that Bushie will veto any and all attempts to increases taxes on hedge funds y buyout firms. Snow, never afraid to go where no one else will, noted that […]

    / Jun 28, 2007 at 11:20 AM
  • taxes

    Taxing the Carry: This Time It’s Everyone

    The other shoe has dropped. Top Democratic congressmen introduced legislation that would doubled the tax rates on carried interest. The new tax treatment would treat the carry as ordinary income rather than capital gains. It hits everyone from venture capital funds to real estate funds to private equity firms to hedge funds. Several prominent hedge […]

    / Jun 22, 2007 at 3:56 PM
  • Blackstone Group, Senate, taxes

    Is The Blackstone Bill Triple Taxation?

    Lawmakers supporting the bill on Capitol Hill to raise taxes on private equity firms going public claim that it’s a basic matter of tax fairness. The bill’s sponsors, Democratic Senator Max Baucus and Republican Senator Chuck Grassley, have argued that private equity companies should not be allowed to access the public capital markets without having […]

    / Jun 20, 2007 at 2:48 PM
  • Private Equity, Senate, taxes

    No Small Time Steve Schwarzmans
    How The Blackstone Bill Could Cut Ordinary Investors Off From Private Equity Profits

    Over the past few years, the business of private equity has made a tremendous amount of money for a small number of people and institutions. And, if the top lawmakers on the Senate Finance Committee get their way, the number of people who participate in the profits of private equity isn’t likely to grow by […]

    / Jun 18, 2007 at 2:52 PM
  • Private Equity, Senate, taxes, Write-Offs

    Write-Offs: 6.15.07
    Private Equity & Taxes: Special Edition

    The move to raise taxes on private equity firms going public is the bill the launched a thousand headlines. And ten-thousand blog posts. This afternoon we looked at the possibility of the bill getting enacted and answered the most fundamental question about the proposal. We’re going to send you away into the weekend with an […]

    / Jun 15, 2007 at 6:20 PM
  • IBM, IRS, taxes

    Tax Man Wipes Out Killer Bees

    So the Internal Revenue Service has shut down the Killer B, the tax shelter that has helped fuel the stock buyback programs of many companies with foreign earnings, proving once again that the first rule of Tax Shelter Club is “Do Not Talk About Tax Shelter Club.” The Killer B, named for a provision of […]

    / Jun 7, 2007 at 3:18 PM
  • taxes

    I Wish The Government Would Keep Its Nose Out Of My Drug Trafficking

    Let me get serious here for a second—circa last June, when I heard there was an opening to work under the inimitable legend– no, god– that is John Carney, I got excited. VERY excited. I jumped, at the chance (of a lifetime), you might say. My parents, on the other hand, while pretty huge JC […]

    / Jan 4, 2007 at 2:18 PM
  • IRS, Kobi Alexander, taxes

    NFW! Wesley Snipes Is In Kobi Alexander Land!

    DealBreaker might need to set up a Namibian branch office if things keep up like this. Today Reuters reported that Wesley Snipes—indicted earlier this week for tax fraud—is in Namibia. You remember that place right? It’s the semi-desert African country where Kobi Alexander was discovered, arrested and eventually bailed out of jail to await his […]

    / Oct 20, 2006 at 3:20 PM
  • taxes

    The Worst Time To Shop

    Sales tax holidays, of course. Crowded stores. Few bargains. Long lines at the register. Complicated rules about what qualifies. Consumers look at sales tax holidays as times to find tax free bargains but since stores seem to shut down other price reduction sales during these ‘holidays’ they are really just a way of letting stores […]

    / Aug 8, 2006 at 9:16 AM
  • taxes

    2010: The Best Year To Die Rich

    The weirdest thing about the estate tax repeal and resurrection is that the combined effect of the temporary repeal passed in 2001 and the legislation approved by the House today is that we’ll have one year—2010—with no estate taxes at all. The 2001 reforms phase out the tax through 2010, when the tax is reduced […]

    / Jun 22, 2006 at 4:54 PM

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