Political Capital

Taxes

An associate with Intel Labs greets visitors at the technology showcase in San Francisco.

Photograph by Ryan Anson/Bloomberg

An associate with Intel Labs greets visitors at the technology showcase in San Francisco.

Bloomberg by the Numbers: 1981

The federal research and development tax credit was enacted in 1981. The credit has been frequently extended or modified since then, frustrating business leaders who say the lack of permanence creates uncertainty and complicates investment decisions. The credit lowers the...

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A General Electric Co. plant in Montrose, U.K.

Photograph by Simon Dawson/Bloomberg

A General Electric Co. plant in Montrose, U.K.

Bloomberg by the Numbers: $13 Billion

General Electric Co. may pay more than $13 billion to acquire the French company Alstom SA. Bloomberg News first reported the news yesterday. Here’s the story by Aaron Kirchfeld, Matthew Campbell and Jeffrey McCracken. “GE had cash and equivalents of...

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A homeless at Penn Station in New York City.

Photograph by Spencer Platt/Getty Images

A homeless at Penn Station in New York City.

‘Capital in the 21st Century:’ Too Big to Tweet

In that extended conversation about “The Great Gatsby Curve,” the fact that income distribution in modern-day America roughly equals the way money was held in 1928, Thomas Piketty hasn’t yet become the household tweet that political leaders favor lately. President...

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Seasonal worker Steven Flagg, dressed in a Statue of Liberty costume, holds a sign for a nearby Liberty Tax Service franchise location in Louisville, Kentucky, on April 12, 2014.

Photograph by Luke Sharrett/Bloomberg

Seasonal worker Steven Flagg, dressed in a Statue of Liberty costume, holds a sign for a nearby Liberty Tax Service franchise location in Louisville, Kentucky, on April 12, 2014.

Bloomberg by the Numbers: $1,259

    Each U.S. taxpayer would have to pay $1,259 on average to recoup revenue lost to corporations and individuals who use offshore tax havens.  ”The United States loses approximately $184 billion in federal and state revenue each year due...

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Richard Trumka, president of the AFL-CIO, during an interview in Washington, D.C., on March 11, 2014

Photograph by Andrew Harrer/Bloomberg

Richard Trumka, president of the AFL-CIO, during an interview in Washington, D.C., on March 11, 2014

U.S. CEOs Made 331 Times Average Worker, Says AFL-CIO

April 15 is known across America as a day of reckoning, when many workers must fork over unpaid taxes. AFL-CIO President Richard Trumka says that for corporate executives, tax day “represents making massive sums of money from the sacrifice of others.”...

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The Fisker Karma's solar roof, made by Quantum Fuel Systems Technologies Worldwide, Inc., along with Asola of Germany during the Los Angeles Auto show on Nov. 29, 2012.

Photograph by Kevork Djansezian/Getty Images

The Fisker Karma's solar roof, made by Quantum Fuel Systems Technologies Worldwide, Inc., along with Asola of Germany during the Los Angeles Auto show on Nov. 29, 2012.

China Billionaire Profits While U.S. Taxpayers Lose With Fisker

To hear the U.S. Department of Energy tell it, extracting $25 million for a busted loan to failed electric carmaker Fisker Automotive was a coup that cut the government’s loss to a more manageable amount. Now, a sizable chunk of...

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Kurt Busch, driver of the #41 Haas Automation Chevrolet, celebrates after winning the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 30, 2014 in Virginia.

Photograph by Chris Graythen/Getty Images

Kurt Busch, driver of the #41 Haas Automation Chevrolet, celebrates after winning the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 30, 2014 in Virginia.

NASCAR, Olympic Medals, Film, TV: Give us a Tax Break

Democrat Mark Warner backs a NASCAR tax break. Republican Johnny Isakson supports one for film and television productions. And Democrat Thomas Carper backs a provision that aids U.S. multinational companies’ offshore operations. Those are among the key takeaways from the...

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U.S. Treasury Inspector General for Tax Administration J. Russell George, former IRS Commissioner Douglas Shulman and Internal Revenue Service Director of Exempt Organizations Lois Lerner are sworn in before testifying to the House Oversight and Government Reform Committee on May 22, 2013 in Washington, DC.

Photograph by Chip Somodevilla/Getty Images

U.S. Treasury Inspector General for Tax Administration J. Russell George, former IRS Commissioner Douglas Shulman and Internal Revenue Service Director of Exempt Organizations Lois Lerner are sworn in before testifying to the House Oversight and Government Reform Committee on May 22, 2013 in Washington, DC.

IRS Oversight Board’s Empty Chairs

More than 300 days after a political controversy rocked the Internal Revenue Service, President Barack Obama did something rare: He nominated someone to the tax agency’s oversight board. His pick is Linda Millsaps, former chief operating officer at the North...

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A girl with a water container among debris of destroyed houses in Tacloban, Leyte province on Dec. 7, 2013.

Photograph by Noel Celis/AFP via Getty Images

A girl with a water container among debris of destroyed houses in Tacloban, Leyte province on Dec. 7, 2013.

Typhoon Tax Break: Still Time for Aid

Taxpayers who haven’t filed their 2013 income tax returns yet have a rare chance this year to get a last-minute deduction. Normally, Americans can claim deductions for charitable contributions made through Dec. 31, a deadline that typically spurs a flurry...

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