The world’s first tax, imposed 3,000 years BC, was called the “heqat,” and it required farmers to pay 20% of their harvest to the pharaoh. Given what we know about human nature, we can assume the first efforts to avoid the heqat began around 2,999 BC. Thus began a fiscal arms race that persists until today.
wealth tax
Follow the Bouncing Ball
For decades, Republicans have been the party of tax cuts. But now, those at the top of the financial food chain may find themselves in for a surprise that reflects the Republican party’s evolution from the party of the rich to the party of the working class.
Jump Into the Void
Don’t look now, but April 15 is almost here! Ordinarily, that means money gushing in for our friends at the IRS. Last year, they took in $5.1 trillion, or 95% of all government revenue. Since then, the economy has grown 2.8%, suggesting we should see a similarly sized increase in revenue.
“Don’t Drive Angry!”
Three hundred sixty-four days out of the year, Punxsutawney, Pennsylvania is a sleepy one-horse town of 5,800 souls, nestled in the foothills of the Appalachians 84 miles northeast of Pittsburgh. But on that other glorious day of the year, it’s the center of the universe. On February 2, a mangy groundhog named Phil dons a top hat and comes out of his hole to look for his shadow. If he sees it, we’re doomed to six more weeks of winter. If not, spring is on its way.
Cool Cats
Someday, accountants will be cool. I don’t just mean in the “Oh, you’re majoring in accounting, that’s cool” sense. I mean Steve-McQueen-cruising-through-Rome-on-a-Vespa cool. Someday, little kids who dream of growing up to be accountants will collect bubblegum cards with Big Four partners’ pictures on one side and detailed career stats on the back. (Tax dollars saved, by year! Endorses checks: right-handed!) When they get to high school, they’ll be as popular as the quarterback of the football team and the Homecoming Queen. (56.8% of CPAs are women.) Someday, cool college kids will skip fraternities to party with the Accounting Club.
End of an Era?
Last month, Peacock aired the series finale of their monster hit Yellowstone. (One big spoiler to come!) For five and a half seasons, the show chronicled the ups and downs of the Dutton family, heirs to the largest contiguous ranch in the United States, as they fought to defend their land. On one side, greedy developers conspired to turn it into the next Park City. On the other, the neighboring Broken Rock tribe wanted to reclaim their ancestral home. Real Montana ranchers say the show is remarkably true-to-life, especially the gunfights, beatings, explosions, and occasional “long black train” to the back of the head.