David Cay Johnston

A gamble down on the boardwalk

By David Cay Johnston
September 14, 2012

ATLANTIC CITY–Americans who think more legalized gambling can ease their state and local tax burdens should take a close look at the travails of this struggling New Jersey seaside resort.

A tale of two healthcare plans

By David Cay Johnston
September 11, 2012

No issue affecting taxes so clearly divides the two parties in the U.S. election as healthcare. The two parties, in their platforms, describe very different approaches to healthcare economics. Both use political plastic surgery to cover up ugly truths.

Romney and Ryan’s dangerous tax roadmap

By David Cay Johnston
September 7, 2012

Together Mitt Romney and Paul Ryan have put human faces on how the super-rich game the tax system to pay less, pay later and sometimes not pay at all. Both want to expand tax favors for the already rich, like themselves.

Why ZIRP may mean zip

By David Cay Johnston
August 31, 2012

How is your pension doing?

Even if you are not one of the 44 million Americans lucky enough to be in a private-sector traditional pension plan, you should care because if enough fail, your tax dollars will be needed to clean up after them.

The victims of low-interest locusts

By David Cay Johnston
August 10, 2012

Another financial crisis looms for U.S. taxpayers, a disaster likely to create even worse human misery than the mortgage fiasco that some of us warned about years before the Wall Street meltdown in 2008.

The troubled trade deal with South Korea

By David Cay Johnston
July 31, 2012

SEOUL — In March, the United States and South Korea implemented a Free Trade Agreement that President Barack Obama touts as more significant than the last nine such agreements combined. He also said it was central to his goal of doubling American exports within five years.

Idle corporate cash piles up

By David Cay Johnston
July 16, 2012

IRS data suggests that, globally, U.S. nonfinancial companies hold at least three times more cash and other liquid assets than the Federal Reserve reports, idle money that could be creating jobs, funding dividends or even paying a stiff federal penalty tax for hoarding corporate cash.

America’s long slope down

By David Cay Johnston
June 20, 2012

A broad swath of official economic data shows that America and its people are in much worse shape than when we paid higher taxes, higher interest rates and made more of the manufactured goods we use.

JP Morgan’s $2 billion experiment with truthiness

By David Cay Johnston
June 11, 2012

JPMorgan Chase & Co blames its $2 billion, and maybe much larger, trading loss on mistakes made in hedging the market. Bill Black, a finance criminologist, calls this “hedginess.”

The fortunate 400

By David Cay Johnston
June 6, 2012

Six American families paid no federal income taxes in 2009 while making something on the order of $200 million each. This is one of many stunning revelations in new IRS data that deserves a thorough airing in this year’s election campaign.