It was not until 1913, 137 years after the Declaration of Independence established a free people who are no longer free, that there was an income tax. Years ago I researched and wrote the story of how it happened. It exists somewhere in print. In the old analogue, library card file days, it would have... Read More

Just as Jews claim exclusivity as holocaust victims of WW II despite that more Germans died and many times more Russians died and it was a holocaust experience for a number of ethnicities, black Americans claim to be the only victims of slavery despite the historical fact that all races have been enslaved usually by... Read More

The final act of the Democrat majority on the House Ways and Means Committee was to make public several years of Donald Trump’s tax returns, which the Committee obtained after a prolonged legal battle. The tax returns confirmed that, despite being one of the richest people in America, Donald Trump paid very little in federal... Read More

West Virginia Senator Joe Manchin recently claimed the 15 percent corporate minimum tax contained in the Inflation Reduction Act, which should be called the Inflation Creation Act, is not a tax increase. Instead, he claimed, the bill simply closes a loophole that allows corporations to avoid paying all the taxes they owe. Despite what Senator... Read More

For decades on or about April 15, I published a tax day column pointing out that working Americans in our time are as enslaved as 19th century blacks on cotton plantations. I never in 30 or more years saw any response from any economist, historian, or anyone. I think my statement was regarded as too... Read More

The White House Moron wants to tax unrealized capital gains, and some neoliberal economists think it is a good idea. Let’s take a look and see what we think. A capital gain is an increase in the price of something since you purchased it. It could be a stock, a bond, a house, artwork, gold,... Read More

The headline might seem extravagant, but it is true. Readers might not realize its truth, because people tend to associate slavery with confinement, but that is incorrect. The slave was confined to his place of work, because that is where his labor was used and mobility in those times was extremely limited, not because confinement... Read More

Progressives who work to end individual rights violations committed by the NSA, FBI, DEA, CIA, and other federal agencies usually overlook, or even support, the routine violations of Americans’ rights by the IRS. For example, progressives rarely, if ever, speak out against the IRS’s targeting of the opponents of those in power. When liberal Democrats... Read More

Last week the New York Times published some of President Trump’s 1980s and 1990s tax returns information. The information detailed President Trump’s financial difficulties during that time. While you would not know it from reading some media reports, this is old news. In fact, President Trump openly discussed his financial difficulties on his popular reality... Read More

Many Americans who have wrestled with a 1040 form, or who have paid someone to prepare their taxes, no doubt cheered the news that Congress will soon resume working on tax reform. However taxpayers should temper their enthusiasm because, even in the unlikely event tax collection is simplified, tax reform will not reduce the American... Read More

The Michael Hudson Series – Part 3 Income Tax can be viewed here.