Gerald E. Scorse is a freelance writer living in New York. His op-eds have appeared in newspapers across the United States
OpEdNews Member for 367 week(s) and 6 day(s)
31 Articles, 0 Quick Links, 89 Comments, 1 Diaries, 1 Series, 0 Polls
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(1 comments) SHARE Saturday, April 24, 2021
When the rich don't pay, the rest of us do The IRS gets the income figures for most Americans from the companies they work for. Millions of others, though, do their own income reporting. If a bill now before Congress becomes law, the agency will get third-party income information for the first time for millions of high-income taxpayers who currently self-report.
(1 comments) SHARE Wednesday, March 21, 2018
Stately, Fred and Central Park mornings An extra layer of pixie dust has fallen on New York's Central Park. According to reliable sources, the park now contains a talking tree and a talking statue. They only add, of course, to the magic the park regularly provides. See the article for all the details.
(5 comments) SHARE Saturday, October 17, 2020
Democrats could revive a Reagan tax reform Capital gains have almost always been taxed at a lower rate than ordinary income. The last time they weren't, Ronald Reagan was the president who made it happen. If Democrats win in November they could restore Reagan's equal taxes on income from wealth (capital gains and dividends) and income from work (wages and salaries).
(3 comments) SHARE Monday, March 8, 2021
Congress's soft spot for rich retirees Tax breaks usually have some reason for being, but here's one that doesn't: a proposal to raise, for the second time in two years, the beginning age for required minimum distributions from retirement accounts (RMDs). The original age was already too late, the current age of 72 is worse, but the proposed new age of 75 takes Congressional giveaways to a whole new level.
(1 comments) SHARE Sunday, January 3, 2021
The numbers add up for 'child-side' tax policies Tax breaks go overwhelmingly to those in the upper incomes. According to two Harvard researchers, a greater proportion of those monies might better be directed to low-income families and their kids. The initials of their concept are MVPF, short for Maximum Value of Public Funds.
(1 comments) SHARE Tuesday, March 14, 2017
Keeping America's retirement promise A GOP rule opens the door to a liberal reform: tax-advantaged retirement accounts for millions of low- to middle-income workers. Over half the labor force lacks access to such accounts. The rule would help Congress make them available, and keep America's retirement promise.
(1 comments) SHARE Wednesday, September 22, 2021
Biden: Tilt taxes to the middle class The presidency of Ronald Reagan marked the beginning of a tax system highly favorable to the rich. President Joe Biden wants to go in a different direction, but he first needs the approval of Congress. We'll soon see whether he gets it.
(5 comments) SHARE Thursday, March 7, 2019
Wall Street mini-tax could raise maxi-revenue Believe it or not, the tiniest of taxes could raise hundreds of billions for the Treasury: a financial-transactions tax, "FTT" for short. The Congressional Budget Office, using estimates worked up by the Joint Committee on Taxation, put the number at $777 billion for the decade 2019 - 2028. The United States had one before, and just maybe could have one again.
(1 comments) SHARE Friday, April 12, 2019
Two days in Tennessee in 1953: A racial memory I was an innocent abroad when, as a 17-year-old in 1953, I made my first trip into the South. I probably learned more American history in those two days than I'd learned up to then. Trouble is, I didn't really feel smarter; I just felt a whole lot sadder.
(9 comments) SHARE Tuesday, November 30, 2021
Manchin's better way to pay for Build Back Better Build Back Better promises to significantly add to and improve America's social safety net. At the same time, millions of our most affluent taxpayers have been promised not to worry about any new taxes. That makes no sense--fiscally, morally, or any other way. As we seem to have forgotten, we're all in this together.
(1 comments) SHARE Thursday, February 4, 2016
America's gold mine for the golden years Our retirement system gets constant criticism. Here's the eye-opening other side, including a way of shoring up Social Security.