An extensive discussion of tax reform is likely to take place over the next couple of years because it’s necessary and long overdue and because both political parties have things they hope to get out of it. Taken together, these suggest that something might actually happen.
Thats the premise of my new book, “The Benefit and the Burden: Tax Reform Why We Need It and What It Will Take” (published today by Simon & Schuster).
Like many inside-Washington policy debates, much of that involving tax reform is unintelligible except to those who understand the jargon, players, history and unstated assumptions that underlie it. For t
Many consumers are excited about the credit reform implemented in July of this year, primarily because it eliminates many of the unfair practices credit card companies have been using to charge higher interest rates and penalties. Unfortunately, this reform didn’t stop credit card companies from jacking up rates, decreasing credit limits, and changing due dates before the new regulations went effect. Even so, the changes made this year are more significant than any incurred in the credit card industry over the last three decades.
The Reform of 2010
The changes were devised and implemented by the Federal Trade Commission in what is known as the FTC Act, which has been approved by regulators from the National Credit Union Administration and the Federal Reserve. T
Our friends at Americans for Financial Reform shared this video with us, and we thought you’d enjoy it, too. This short cartoon by Mark Fiore highlights the absurdity of the ways credit card companies are trying to get around the upcoming reforms.