David Cay Johnston

The hidden dangers of low interest rates

By David Cay Johnston
January 10, 2012

The Fed’s campaign to hold short-term interest rates near zero is a loser for taxpayers. A rise in rates would also burden taxpayers, but it would come with a benefit for those who save.

Time to junk income taxes?

By David Cay Johnston
January 6, 2012

This is America’s 100th year for individual income tax, a system as out of touch with our era as digital music is with the hand-cranked Victrola music players of 1912. It is also the 26th year of the Reagan-era reform for both personal and corporate tax, a grand design now buried under special-interest favors.

The corporations that occupy Congress

By David Cay Johnston
December 20, 2011

By David Cay Johnston

The views expressed are his own.

Some of the biggest companies in theĀ United States have been firing workers and in some cases lobbying for rules that depress wages at the very time that jobs are needed, pay is low, and the federal budget suffers from a lack of revenue.

Where’s the fraud, Mr. President?

By David Cay Johnston
December 13, 2011

By David Cay Johnston

The views expressed are his own.

A new report from London and President Barack Obama’s statements to “60 Minutes” show financial crimes spreading like wildfire and governments failing to stop them.

Keeping people in poverty by trying to bring them out of it

By David Cay Johnston
December 9, 2011

By David Cay Johnston

The views expressed are his own.

In nearly all 34 countries with modern economies, inequality is rising, a new study by the Organization for Economic Cooperation and Development shows. The gap is especially pronounced in the United States where the country’s largest program to alleviate poverty may be adding to the problem, not alleviating it.

Republicans paint themselves into a tax-cut corner

By David Cay Johnston
December 6, 2011

By David Cay Johnston

The opinions expressed are his own.


Slyly encouraged by President Barack Obama, Republicans have painted themselves into a tax corner.

The taxpayers’ burden

By David Cay Johnston
December 4, 2011

The author is a Reuters columnist. The opinions expressed are his own.

Taxpayers have much at risk in the coordinated action that six central banks took this week to lower short-term interest rates and make it easier to issue dollar-denominated loans to cope with the European debt crisis.

In New York, gifts circumvent a ban

By David Cay Johnston
November 29, 2011

By David Cay Johnston
The opinions expressed are his own.


Taxpayers can expect ever more picking of their pockets by businesses with political clout thanks to the Nov. 21 decision by Judge Theodore Jones and four colleagues on the New York Court of Appeals.

GOP inaction means higher taxes

By David Cay Johnston
November 22, 2011

The author is a Reuters columnist. The opinions expressed are his own.

Thanks to Republicans who signed Grover Norquist’s pledge never to raise taxes, your taxes are automatically scheduled to go up in January — unless you are a plutocrat.

Closing Wall Street’s casino

By David Cay Johnston
November 18, 2011

The author is a Reuters columnist. The opinions expressed are his own.

A superb example of a sound rule in law and economics that needs reviving, because it can halt the rampant speculation in derivatives, is the ancient legal principle that gambling debts are not enforceable through court action.