Tax Chats

Send us a textAre big countries bullying developing countries under the guise of the OECD's Inclusive Framework? It the framework really inclusive, or is it really an exclusive club of rich countries looking out for themselves? Jeff and Scott discuss these issues with Afton Titus who gives the African perspective.

Send us a textJeff talks about the relationship between taxes and inflation, and, introduces us to the term  seigniorage. 

Send us a textMartin Luther King Jr. is the only person to have ever been tried for perjury with regards to state income taxes in Alabama. Jeff and Scott interview Edgar Dyer about the tax perjury trial of Martin Luther King Jr. in 1960. Eddie wrote an article entitled "A Triumph of Justice in Alabama: The 1960 Perjury Trial of Martin Luther King, Jr."Fred Grey, Martin Luther King's attorney, said of the trial, "No one would have predicted that an all-white jury in Montgomery, Alabama, the Cradle of the Confederacy, in May 1960, in the middle of all the sit-ins and all of the racial tension that was going on, would exonerate Martin Luther King, Jr. But it really happened." Coretta Scott King said of the trial, "A southern jury of twelve white men had acquitted Martin. It was a triumph of justice, a miracle that restored your faith in human good."  Dr. King said it was a "turning point" in his life. Tune in to hear about this triumphal tax trial, which was a turning point for Martin Luther King.

Send us a textScott and Jeff discuss the principle of realization. As a general rule, most income taxes are levied when it is realized, usually when a transaction takes place. For example, gains in shares held as an investment are not taxed unless those shares are sold. The principle of realization also manifests itself in a variety of interesting ways, which we discuss in this episode.

Send us a textTaxes Taxes, Where's my RefundTaxes TaxesWhere’s my refund?Taxes TaxesI’m so angryCuz I paid too muchand April is so far away (far away)Taxes TaxesWhere’s my refund?Taxes TaxesGive me what is dueCause I need moneyHelp me pay my debtsI know I’ve claimed some thingsThat might not be legitMy daughter’s wedding costsThe dog food that I boughtBut I have paid so muchI feel no guilt at allMy friends say I’ve lost touchAnd some are just appalledTaxes TaxesWhere’s my refundTaxes TaxesWhat is that you say?You work for who?The I R S?Get out of my house!I hate taxes

Send us a textScott discusses one of the factors contributing to whether you should invest in a Roth IRA or a Traditional IRA.

Send us a textScott and Jeff welcome Brian Galle, Professor of Law at Georgetown University to discuss the proposed Billionaires' Income Tax, which is a tax on unrealized capital gains. Brian and 218 other law professors and economists recently sent a letter to Congress in favor of the proposal. The letter can be found here. We discuss how the tax is being positioned as being different from a wealth tax. We question whether the tax might eventually be expanded to everyone, not just billionaires. 

Send us a textJeff describes how knowing how many billionaires there are and how much wealth they have, a key component to estimating how much revenue many new taxes that target the ultra-rich would bring in, is more complex than you might think.

Send us a textJeff talks with Scott about a few of The Tax Museum's thousands of items. Jeff shows Scott a stack of expired lotto tickets purchased on EBAY and describes what they have to do with tax fraud. They discuss some old revenue stamps, an actual stamp from Burkina Faso, and other items that have amazing connections with taxes.

Send us a textScott describes a year-end tax planning technique called bundling.