The other day, I posted a graphic showing the evolution of U.S. federal government revenue. Last year, the feds took in a total of $3.2 trillion, mostly from income / social security taxes and corporate income tax. This figure, $3.2 trillion, represents the total amount...
In 2014, Americans spent $70 billion on the lottery. When I read this fact back in May, I thought it was one of the craziest stats I had ever seen. That’s over $630 for every household in the U.S.! It sounds absurd. Then again, the...
Last month the Atlantic highlighted one of the most shocking stats I had ever seen. In 2014, Americans spent $70.1 billion on the lottery. It’s hard to put that number into context, but as the article points out, that is over...
Last month, I provided the data for a New York Post article, How NYC Does Not Tax the Super Rich, which describes how NYC’s most expensive apartment, a penthouse that recently sold for $100M, has an annual property tax bill of only $17k....
The most complicated real estate tax system in the country is about to get even more confusing. On Thursday, Mayor De Blasio announced his proposal for a “mansion tax.” The tax would be levied on buyers of condos, coops, or houses that sell for $1,750,000 or...
Is the lottery a tax? Having been challenged on this question countless times in the last few days, two things have become clear to me. People have extremely strong feelings about how the lottery should be categorized. Most of the arguments come down to...