David Cay Johnston

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.

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.

Abusing a tax loophole meant to aid the poor

By David Cay Johnston
April 26, 2012

Each year the Internal Revenue Service receives tax returns that show more income than was actually earned, in some cases twice the actual earnings.

Honey, they shrunk the IRS

By David Cay Johnston
January 17, 2012

Congress will spend a trillion dollars more than it levies this year, so how doĀ Washington’s politicians respond to the 11th consecutive year of federal budgets in red ink? They plan to shrink the IRS.

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.

Shrinking corporate officer pay

By David Cay Johnston
September 16, 2011

By David Cay Johnston
The views expressed are his own.

It’s time to prick the popular image of ballooning executive pay with some sharp new facts.

Wiping out Wisconsin taxes

By David Cay Johnston
August 26, 2011

By David Cay Johnston
The author is a Reuters columnist. The opinions expressed are his own.