Hide and Seek: Tax Shelters

Ah, to be one of the super rich. You drive a Porsche. You’ve got a house in the Hamptons. And your money’s tucked nicely away — tax free! — in the Caymans. But now, people are starting to get suspicious. Here’s your tool kit for understanding today’s big issue: tax shelters. The Big Issue »

Celebration Excuse

1776

The ultimate celebration. Delegates to the Continental Congress begin signing the United States Declaration of Independence.

1861

You make money, you contribute. Congress enacts the first income tax.

1909

A penny saved, is a penny earned: The first Lincoln penny is used.

1945

Germany holds its breath. The Potsdam Conference concludes, and the allied powers have decided the faith of the defeated superpower.

1964

Mystery incident: apparently, North Vietnam has just fired on a US Destroyer in the Gulf of Tonkin. Apparently.

1990

Bad idea. Iraq invades Kuwait, eventually leading to the Gulf War.

CELEBRATE!

Hold the temptation no more! It’s National Ice Cream Sandwich Day!

HAPPY BIRTHDAY TO YOU

Don’t forget to make a special shout out to the birthday boys! Blowing candles today are Baseball player Grady Sizemore, and actors Kevin Smith and Edward Furlong.

Daybook

9:30AM

The Senate Environment and Public Works Committee has a full committee hearing on the Toxic Substances Control Act and the chemicals management program at the EPA.

9:30AM

The Senate Judiciary Committee has a full committee hearing on “The Authority to Prosecute Terrorists Under The War Crime Provisions of Title 18.”

10:00AM

The Senate Homeland Security and Governmental Affairs Committee has a full committee hearing on “Iraq Reconstruction: Lessons Learned in Contracting and Procurement.”

1:00PM

The House Armed Services Committee has a full committee field hearing on “National Security Concerns on the Southern Border” in Yuma, AZ.

2:00PM

The House Judiciary Committee has a full committee field hearing on “How Does Illegal Immigration Impact American Taxpayers and Will the Reid-Kennedy (Kennedy-McCain) Amnesty Worsen the Blow?” in San Diego, CA.

2:30PM

Should be interesting: the Senate Armed Services Committee has a full committee hearing on the future of military commissions in light of the Supreme Court decision in Hamdan v. Rumsfeld.

ALL DAY

Rahm: Rep. Rahm Emanuel (D-IL) and fellow Democrats attend a fundraising event for Congressional candidate Angie Paccione, Denver, CO.

 

Popularity Contest

TODAY’S TRIVIA

Feel free to use the answer to today’s trivia question the next time that “English-only” crowd starts up. Ready?

What’s the word for a fear of foreign languages?

Find the answer at the bottom of today’s Watercooler Speed Round!

Masthead

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Mic Check is produced every weekday by Christy Harvey, Sara Langhinrichs and Nicole Murphy, and is a project of the Center for American Progress Action Fund. Read more about Mic Check.

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