Husband to Ethan. Executive VP @ntuf Taxpayer Defense Center. [email protected]. Adjunct @catoinstitute. Board @RaineyCenter. Advisory Bd @tax. Cal alum. Also @joe5f6
Washington, DC
Joined December 2008
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Good morning Eckington,
I'm on your ballot for ANC 5F06. As ANC, I've voted for more housing, more safety and community amenities, and more transparency.
I hope I can count on your vote!
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
Wait.
Does the Pope pay US taxes?
NEW: Pope Leo XIV is set to become the first sitting pontiff in the Catholic Churchโs two-thousand-year history to vote in a secular election.
Leo requested an Illinois mail ballot on Oct. 3, and it was sent to his brother Johnโs home in New Lenox, Ill.
John Prevost visited the pope at the Vatican on Wednesday and may now be carrying the ballot back to the Will County clerk by hand. thelettersfromleo.com/p/popeโฆ
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
Tax policy just might have an impact on business investment
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
My basic read of Piketty-Saez-Zucman is that the empirical estimates of tax incidence and revenue are largely beside the point. They think large fortunes are bad, and view destroying those fortunes as a positive good even if doing so lowers tax collections and GDP.
Originalism - the words on the page using the public meaning at the time - is ascertainable.
Other standards, not so much.
Intent? Whose?
Purposivism? But laws don't enact purposes they enact words.
Active liberty? Maybe if the Constitution told judges to "promote democracy" but it says other stuff
This is communist propaganda. The Mises Insittute calls itself America First but it's really reflexively against anything the American government does whether good or bad. Here, to such a degree that it's defending Communist Cuba and repeating their talking points
Cubaโs economy is collapsing in large part because the US government is engaged in illegal and immoral economic warfare against it. | Birsen Filip
mises.org/mises-wire/americaโฆ
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
New: The US debt-to-GDP ratio for FY2026 clocks in at .... 100.03%.
If that survives after GDP revisions, it's the first triple-digit year since 1946.
wsj.com/economy/federal-debtโฆ
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
The second episode of the Capital Commonsense podcast is out! @jbhenchman and @GregJaczkoDC discuss the potential Business Activity Tax. open.substack.com/pub/capitaโฆ
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
Zucman called this @HooverInst study by Jaros and @joshrauh on Californiaโs billionaire tax โspectacularly misleading.โ But his arguments here are wrong on (at least) three counts๐งต
This Hoover Institution study, which has fueled the deluge of ads (more than $200 million spent by billionaires so far) to defeat the California billionaire tax, is spectacularly misleading.
Let me explain its crucial flaw. ๐งต
Readers added context they thought people might want to know
Zucman argues that the tax will raise his projected revenue because billionaires who leave CA after 1/1/26 will be taxed anyway.
At least $542B of net worth (Page, Brin, Thiel) departed the state by 12/31/25.
The entire thread is a misleading denial of this fact.
ft.com/content/d66976โฆ
nytimes.com/2026/04/27/us/โฆ
forbes.com/sites/forbesweโฆ
"well you see, Prince Rurik in the year 862..."
NEW: Vladimir Putin spent most of his call with the leaders of Finland and Norway ranting about Slavic history, underscoring Europe's tough task backing Ukraine in peace talks.
The planned 20-minute call dragged on for 90. A ceasefire barely came up:
ft.com/content/a384acd1-c90cโฆ
Joe Bishop-Henchman ๐ฝ๐ธโ๏ธ๐ retweeted
Josh Rauh and Ben Jaros of Stanford's Hoover Institution work out that a founder who pays California's wealth tax by selling shares must sell about $1.59 for every $1 owed, because the sale itself triggers roughly 37% capital gains tax. The bill grows the moment you try to pay it.
Zuckerberg's fortune is mostly Meta shares, not cash in the bank. California's proposed wealth tax would take 5% of it, about $12bn, so the only way he can pay is by selling shares, which would cost him control of his own company. Meta has had to invent a new kind of share just to get around that. That's the liquidity problem Zucman says doesn't exist.
