Bob Lord

Bob has mostly wound down his 39-year career as a tax and business lawyer (with a 1-year interruption to run for Congress in 2008 (CD3), when he tried to unseat John Shadegg. Bob now serves as the senior advisor on tax policy for the Patriotic Millionaires, a group of wealthy Americans who believe the light taxation of America's rich is destabilizing our democracy, and as an associate fellow at the Institute for Policy Studies. Bob has been writing for Blog For Arizona since late 2011, concentrating mostly on federal issues, with an occasional foray into Arizona state politics.

If The Trump-GOP Tax Plan Passes, Kiss Your Home’s Equity Goodbye

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Make no mistake: The Trump-GOP tax plan is a declaration of war on homeowners, homebuilders, realtors, and the mortgage industry. With seven different provisions that will put pressure on home values, it’s hard to imagine that the plan will not cause a crash in the housing market. Wait, seven separate provisions unfavorable to homeowners? But … Read more

Trump Tax Plan: Helping the Middle Class Only Where They Don’t Need It

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If President Trump has such concern for middle-income Americans, why is he so focused on the one area – federal income taxes – where they’re not getting absolutely clobbered? Donald Trump has stressed repeatedly how his tax plan is intended above all else to help middle-income Americans.In a television appearance, his assistant Treasury Secretary, Tony Sayegh … Read more

Another Million Video Views

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Another Sanders team video, another million viewers. They’re now 4 for 4 in the videos in which I’m included. All at over a million views, and the total pushing six million. This one was inspired by my piece on the Mars family. I’m loving this: You know what's really scary? Millionaires and billionaires using their … Read more

Thucky on Double Secret Probation, Again

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Nearly four years ago, back when most didn’t know Thucky’s true identity, I had to place him on double secret probation. That occurred because Thucky was playing it fast and loose with his “facts.” But it was mostly in jest, because I knew the world would want to know who our friend Thucky was.

Well, he’s returned to old form, and this time his double secret probation is not a joke. We all know the carnival barker behind the curtain. There’s no need to play along any further.

Here’s what ole Thuckarooskie tried to pass off as fact in a comment:

Compare that 10% to the crushing burden you all advocate on small business women. 39.6% federal, 12.4% social security, 2.4% medicare, 5% state and 8% sales tax = 67.4%. Not enough left to drive business growth.

There’s not a grain of truth in those two sentences.

I’m going to give Thucky one week to identify each and every element of intellectual dishonesty in those two sentences, and apologize for them, in a comment to this post. Should he fail to do so, he’s outta here. 

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This Year’s Real Halloween Horror

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[Cross-Posted from Inequality.org]

The family that has made billions off trick-or-treat candy has gone generations without paying any appreciable tax on its enormous fortune. And the Trump tax plan, if adopted, would ax a huge chunk of the tax on the family’s income!

The Mars family has made billions selling us M&Ms, Snickers, and countless other Halloween treats for a century now.  But when it comes to paying tax, the Mars family seems to be all tricks and no treats.

In fact, the family’s latest tax trick may have cost the U.S. Treasury a whopping $10 billion. What could $10 billion do? That’s the cost of delivering prenatal care to hundreds of thousands of expectant moms under Medicaid, an essential program that President Trump and the GOP Congress plan to cut by up to $1 trillion.

According to the current U.S. tax code, any American worth $25 billion can expect 40 percent of that, or $10 billion, to go to Uncle Sam in estate tax, the federal levy on the personal fortunes of deep pockets who kick the bucket. Forrest Mars Jr. had a $25-billion fortune when he died in July 2016. But the Mars family has apparently been able to avoid estate tax on that entire $25 billion.

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