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Keyword: bhotaxincrease

Brevity: Headers | « Text »
  • Anger? Wait 'til people do their taxes next year ...

    05/16/2013 9:41:45 AM PDT · by SeekAndFind · 41 replies
    American Thinker ^ | 05/16/2013 | Silvio Canto Jr.
    In about 9 months, Americans will come face to face with ObamaCare. It will happen when they sit down to fill out their tax returns. My guess is that most people will be angry. ObamaCare and the IRS will work hand in hand in the implementation of the law, as Byron York points out today: "A look at the text of the health care law reveals that much of it consists of amending the Internal Revenue Code to give the IRS more power. When Obamacare goes fully into effect in January, every American will have to prove to the IRS...
  • Senate Democrat budget 'blueprint' includes $1T in new taxes

    03/12/2013 12:39:20 PM PDT · by pacificpundit · 18 replies
    The Hill ^ | 3/12/13 | Erik Wasson
    The first budget from Senate Democrats in four years includes nearly $1 trillion in new taxes but would not balance the budget. The blueprint unveiled by Senate Budget Committee Chairwoman Patty Murray (D-Wash.) on Tuesday to her Democratic colleagues would also turn off the next nine years of the sequester and replace those spending cuts with a 50-50 mix of tax increases and spending cuts. The budget would dedicate $100 billion to economic stimulus in the form of infrastructure spending and job training.
  • Incomes Drop Most in 20 years

    03/01/2013 6:12:48 AM PST · by safetysign · 37 replies
    San Diego Source ^ | 03/01/2013 | Michelle Jamrisko
    Consumer spending in the U.S. rose in January even as incomes dropped by the most in 20 years, showing households were weathering the payroll-tax increase by socking away less money in the bank. Household purchases, which account for about 70 percent of the economy, climbed 0.2 percent after a 0.1 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 76 economists called for a 0.2 percent advance. Incomes slumped 3.6 percent, sending the saving rate down to the lowest level since November 2007. Employment gains, the rebound in...
  • Senate Democrats’ budget plan will reopen battle over taxes

    01/20/2013 6:00:40 PM PST · by mdittmar · 19 replies
    The Washington Post ^ | 1/20/13 | Lori Montgomery
    Senate Democrats plan to draft a budget blueprint that calls for significantly higher taxes on the wealthy, oil and gas companies and corporations doing business overseas, reopening a battle over taxes Republicans had hoped to lay to rest with the “fiscal cliff.” For nearly four years, Senate leaders have ducked their legal duty to craft a comprehensive budget framework. Now, however, Democrats see the budget process as “a great opportunity” to pursue additional tax increases — and to create a fast-track process to push them through the Senate, Sen. Charles E. Schumer (D-N.Y.) said Sunday on NBC’s “Meet the Press.”
  • Americans feel austerity's bite as payroll taxes rise

    01/12/2013 6:55:46 AM PST · by mdittmar · 24 replies
    Reuters ^ | Jan 12, 2013 | Jason Lange
    (Reuters) - Americans are beginning to feel the pinch from Washington's decision to embrace austerity measures aimed at bringing down the nation's budget deficit. Paychecks across the country have shrunk over the last week due to higher federal tax rates, and workers are already cutting back on spending, which will drag on the economy this year.
  • Taxman to Middle Class: 'Bend Over'

    12/13/2012 4:56:27 AM PST · by Kaslin · 22 replies ^ | December 13, 2012 | Larry Elder
    President Barack Obama in 2008, and again during the 2012 election, promised absolutely, positively no tax hikes on the middle class. The rich, however, must pay more: "It's not me being stubborn, it's not me being partisan -- it's just a matter of math." How does Obama intend to pay for our cradle-to-grave welfare state? Why, by charging the dastardly "millionaires and billionaires" who "can afford to pay a little bit more." No more extending the Bush-era tax rates for the rich. To do so, Obama tells us, would "cost" $700 billion -- over 10 years. So this "break" for...
  • The Court Rules: Obamacare is the Largest Tax Increase in the History of the World

    06/28/2012 11:22:03 AM PDT · by Kaslin · 91 replies
    Rush ^ | June 28, 2012 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Hey, folks, have you seen the economic news today? Have you heard about the unemployment numbers today? (laughing) Gross domestic product, have you heard about any of that? Because I have it here, and it sucks. It's a disaster. The economy of this country remains a disaster. And we, the American people, have just been deceived in ways that nobody contemplated. And what we now have is the biggest tax increase in the history of the world. What we have been told by the chief justice of the Supreme Court and four liberals on the court: Obamacare...
  • Obama creates new Christmas tree tax

    11/09/2011 10:24:45 AM PST · by Slambat · 34 replies · 1+ views ^ | November 9, 2011 | Federal Register
    President Obama’s Agriculture Department today announced that it will impose a new 15-cent charge on all fresh Christmas trees—the Christmas Tree Tax—to support a new Federal program to improve the image and marketing of Christmas trees.
  • Source: Obama likely to endorse 'millionaire's surtax'

    10/06/2011 7:06:31 AM PDT · by Oldeconomybuyer · 39 replies ^ | October 6, 2011 | From Brianna Keilar and Kate Bolduan
    Washington (CNN) -- President Barack Obama will use a news conference Thursday morning to push Congress to act on his jobs plan, a senior administration official said. Obama will likely endorse the so-called "millionaire's surtax" included in a jobs bill filed by Senate Democrats on Wednesday night, the official said. The surtax in the bill introduced by Senate Majority Leader Harry Reid is a 5.6% tax hike on earnings over $1 million -- up from the 5% initially proposed. It would raise more than enough to fully pay for the president's $447 billion jobs bill within the required 10-year window,...
  • President Obama Rejects President Obama’s Job-Crushing Tax Hike Proposal

    09/20/2011 5:57:53 AM PDT · by sunmars · 23 replies
    Here’s a quick refresher for President Obama on the devastating impact tax hikes will have on jobs and the economy, courtesy of President Obama: Higher Taxes “Will Have the Effect of Fewer Jobs.” “US President Barack Obama on Thursday urged Congress to pass the tax deal he brokered with Republican foes, saying rejecting the compromise would hurt the economy and cost US jobs. … ‘[I]f this framework fails, the reverse is true. Americans will see it in smaller paychecks that will have the effect of fewer jobs,’ he said.” (AFP, 12/9/10) President Obama Said He Was “Absolutely Convinced” That Preventing...
  • Obama erases oil tax breaks in deficit plan

    09/19/2011 10:24:14 AM PDT · by jazusamo · 20 replies
    The Hill ^ | September 19, 2011 | Andrew Restuccia & Ben Geman
    President Obama is reviving his battle to kill oil-and-gas industry tax breaks and seeking billions of dollars in other energy-related revenues as part of his wider deficit-cutting and jobs proposals . The White House on Monday sent Congress a plan to pay for Obama’s $447 billion “American Jobs Act” and also cut the deficit by over $3 trillion in 10 years. Several of Obama’s energy tax proposals have sputtered in the past amid resistance from Republicans and oil-state Democrats. But they are part of a White House effort to sharpen the contrast between the president and Republicans over raising...
  • Homeowners Lose Break In Obama Tax Bill

    01/18/2011 11:25:29 AM PST · by Tribune7 · 52 replies
    A rotten Easter egg for homeowners is part of the tax bill passed by the lame-duck Democrat Congress and signed into law by President Obama, Dec. 17. A provision to allow homeowners to deduct local property taxes without itemizing was let lapse. About two-thirds of Americans don't make enough money to make it worth itemizing. The provision saved homeowners about $1.6 billion per year.
  • Liberals Lost the Tax War

    12/27/2010 2:52:24 PM PST · by Kaslin · 5 replies · 1+ views ^ | December 27, 2010 | J. T. Young
    Liberals find themselves in a tax trap. A tax bill trap, that is. While the recently enacted tax bill certainly has elements with which conservatives can rightfully disagree, there are far more – and far bigger – parts for liberals to dislike. Following the adage “the enemy of my enemy is my friend,” conservatives should love this legislation. The most obvious problem for liberals with the extension of all the Bush tax cuts for an additional two years is the bipartisan mention of its positive economic effect. This has become the consensus selling point for this legislation. The question that...
  • Voters Do Not Want the VAT

    04/29/2010 4:11:30 AM PDT · by Man50D · 20 replies · 433+ views ^ | April 29, 2010 | Matt Hadro
    As the Obama Administration continues to float the possibility of enacting a Value Added Tax (VAT) as a solution to the growing deficit problem, polls show that such a national sales tax is widely unpopular with the American people. According to a Rasmussen poll, 60% of likely voters are against a VAT if it is simply a way to raise revenue for the government, with only 20% favoring a VAT to raise money for Uncle Sam. If the VAT is used to pay specifically for healthcare, the numbers improve swith 51% of voters nationwide still opposing a national sales tax...
  • The Silent Killer: Obama's VAT Proposal

    04/24/2010 5:00:06 AM PDT · by Kaslin · 16 replies · 749+ views ^ | April 24. 2010 | Dick Morris and Eileen McGann
    When conservatives like Neal Boortz proposed the "fair tax" (a levy on consumption, not on income), we should have known that the Barack Obama left would seize on the proposal not as Boortz intended it to be -- a replacement for the income tax -- but as an addition to it. Now Obama has let it be known that the value-added tax, or VAT, is "on the table" as he casts about for taxes to lock in his gigantic levels of federal spending. At stake, of course, is our free-market system. When Obama took office, federal, state and local spending...
  • Obama Inches Closer to a Value Added Tax

    04/22/2010 10:22:21 PM PDT · by Chet 99 · 19 replies · 748+ views
    Fox ^ | John Kartch
    In an interview with CNBC’s John Harwood on Wednesday, President Obama refused to rule out the imposition of a value added tax (VAT) on Americans. On Tuesday, Obama's economic adviser Austen Goolsbee refused six consecutive opportunities to do the same when repeatedly questioned by journalist Mark Halperin. In fact, the White House has never ruled out the possibility of a VAT, which may explain why the president is now attempting to alter the terms of his central campaign promise. During his campaign, the president made a “firm pledge” that no family making less than $250,000 per year would see “any...
  • Obama Suggests Value-Added Tax May Be An Option [Obama Bombshell?]

    04/21/2010 9:40:47 PM PDT · by Steelfish · 37 replies · 1,232+ views
    AP Report ^ | April 21st 2010 | Charles Babington
    Obama Suggests Value-Added Tax May Be An Option By CHARLES BABINGTON Apr 21 WASHINGTON – President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, "I want to get a better picture of what our options are." After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted...
  • Millions face tax increases under Dems budget plan

    04/21/2010 5:04:18 PM PDT · by Nachum · 3 replies · 430+ views
    yahoo ^ | 4/21/10 | ANDREW TAYLOR
    WASHINGTON – President Barack Obama's Democratic allies in the Senate promise to cut the deficit by almost two-thirds over the next five years, but their budget plan could threaten about 30 million people with tax increases averaging $3,700 in 2012 and after because of the alternative minimum tax. The alternative is tax increases elsewhere in the revenue code averaging up to $100 billion a year after 2011 to continue alternative minimum tax relief and also curb taxes on people inheriting large estates.
  • Obama's Disdain for Marriage

    04/21/2010 4:08:40 PM PDT · by Sioux-san · 12 replies · 1,111+ views
    World Net Daily ^ | April 21, 2010 | Phyllis Schlafly
    The news that the United States has become a two-class society – i.e., half of Americans pay federal income taxes and half don't – has bounced around the media and shocked Americans. Most people had no knowledge of this appalling economic fact. Obama's stimulus law will add nearly $800 billion in new means-tested welfare spending over the next decade. That means about $22,500 for every poor person in the United States, which will cost over $10,000 for each family that pays federal income taxes. According to the Tax Foundation, married taxpayers pay three-fourths of all federal income taxes, whereas two-thirds...
  • Shocker : Senate Democrats Admit Obamacare Will Increase Premiums

    04/21/2010 4:32:46 PM PDT · by RobinMasters · 15 replies · 633+ views
    NRO ^ | APRIL 21, 2010 | Jim Geraghty
    We already knew this was coming, of course — despite the dishonest, and sometimes preposterous, assurances from the bill's (suddenly verrry quiet) salesman-in-chief. Just in case Sen. Dick Durbin's accidental articulation of the truth wasn't enough to convince you that congressional Democrats knew full well that higher premiums are an inevitable outcome of Obamacare, this New York Times article should do the trick: Fearing that health insurance premiums may shoot up in the next few years, Senate Democrats laid a foundation on Tuesday for federal regulation of rates, four weeks after President Obama signed a law intended to rein in...
  • Obama suggests value-added tax may be an option

    04/21/2010 3:00:10 PM PDT · by Nachum · 184 replies · 4,624+ views
    breitbart ^ | 4/21/10 | CHARLES BABINGTON
    WASHINGTON (AP) - President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, "I want to get a better picture of what our options are."
  • Patriot Plan could unite Obama, tea party

    04/18/2010 4:51:32 AM PDT · by rellimpank · 26 replies · 1,220+ views
    Chicago Tribune ^ | 18 apr 10 | John Kass
    Tax Day, Election Day alignment would make sure we get our money’s worth President Barack Obama can't stop chuckling over the antics of the tea party protesters, who rallied in town squares across the land on Tax Day. "I've been a little amused over the last couple of days where people have been having these rallies about taxes," said the president last week. "You would think they'd be saying, ‘Thank you.' That's what you would think." Presidential sarcasm? Perhaps. But I've decided to help end all the bitterness about taxes with a new plan. It even rhymes with "yes, we...
  • 66% Say America Is Overtaxed

    04/11/2010 11:35:13 AM PDT · by SmartInsight · 70 replies · 1,579+ views
    Rasmussen Reports ^ | April 11, 2010 | Rasmussen
    Sixty-six percent (66%) believe that America is overtaxed. Only 25% disagree. Lower income voters are more likely than others to believe the nation is overtaxed.
  • Obama Administration Eyes New Taxes, Fees for National Broadband Network

    04/06/2010 9:59:41 PM PDT · by TCH · 35 replies · 848+ views
    FOX NEWS ^ | April 6, 2010 |
    A massive national broadband plan the Federal Communications Commission released last month proposes creating a national framework for the taxation of digital goods and services and imposing a fee to establish and maintain a national public safety wireless broadband network. The Obama administration has a plan to expand online innovation and boost national public safety. And it wants to do it with more taxes and higher fees. The massive national broadband plan the Federal Communications Commission released last month proposes creating a national framework for the taxation of digital goods and services and imposing a fee to establish and maintain...
  • Volcker: Taxes likely to rise eventually to tame deficit

    04/06/2010 6:27:17 PM PDT · by GreaterSwiss · 97 replies · 2,842+ views
    Reuters ^ | 4/6/2010 | Steven Johnson
    Volcker: Taxes likely to rise eventually to tame deficit NEW YORK (Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.
  • (Obama's) Backdoor Energy Tax

    04/05/2010 4:18:33 PM PDT · by raptor22 · 20 replies · 983+ views
    Investor' ^ | April 5, 2010 | Editorial staff
    Pollution Control: From cars to coal mines, the imposition of economy-killing restrictions is under way. Are the new EPA regulations on auto emissions the precursor to regulating carbon dioxide by executive order? In announcing the Environmental Protection Agency's first regulations on greenhouse gas (GHG) emissions from cars, Administrator Lisa Jackson has promised they won't be the last such rules stemming from the EPA's "endangerment finding" that carbon dioxide, six pounds of which every human being exhales every day, is a dangerous pollutant. "These are the first regulations that cover greenhouse gas emissions in the United States," Jackson told reporters in...
  • Fleecing the Rich (The Rich Will Just Move.)

    03/31/2010 11:59:35 AM PDT · by Andrea19 · 9 replies · 677+ views
    ATR ^ | 3/31/10 | Tim Andrews
    We've said again and again that hiking taxes on the "rich" won't increase revenue - instead, all it will do will be to retard economic growth, and hurt working families through job losses...
  • Obamacare is a property tax... ON YOUR BODY!

    03/28/2010 10:00:31 AM PDT · by E. Pluribus Unum · 8 replies · 480+ views
    March 28,2010 | E. Pluribus Unum
    Property taxes are why you don't really own your wealth. The government gets to take a little bit of it every year to build high schools with Olympic size gym for disadvantaged utes. If it weren't for property taxes, a lot of people with paid off mortgages could retire, but they have to keep working to support the welfare class. Obamacare is the nail in your coffin. As long as you have a body, you owe the government money so they can give it to people they consider to be more worthy than you. There should be no property taxes...
  • New Paycheck Deduction [Voluntary Deduction Which You Can Opt Out of]

    03/27/2010 6:13:35 PM PDT · by chatter4 · 145 replies · 8,510+ views
    Fox News posted on Youtube ^ | March 26,2010 | William La Jeunesse, FOX News Channel
    Nancy Pelosi’s and Barack Obama’s words are ringing true: We will learn what is in the bill once it is passed. New long term care deduction on everyone's paycheck-$150-250 a month, unless you opt out. This would be in addition to your health insurance premiums, and taxes you already pay. See the video for details.
  • Our first tax increase under Obamacare

    03/26/2010 1:22:00 PM PDT · by Bean Counter · 74 replies · 2,373+ views
    3/26/10 | self
    My wife informs me that the Company she works for has already announced what will be a significant change to one of the programs they offer employees, and it means that many people's taxes have already gone up, proving what a liar Premier Hussein really is. Several years ago, the company started offering a type of medical savings account to employees. The employee signs up during the annual enrollment period at year end, and chooses how much that account will be worth, let's say, $2000. As soon as the new year starts, you can begin using that account to pay...
  • Deere (And Others) In The Headlights

    03/26/2010 5:06:50 PM PDT · by Kaslin · 27 replies · 1,286+ views ^ | March 26, 2010 | INVESTORS BUSINESS DAILY Staff
    Health Reform: As major businesses lay out the impact of ObamaCare in dollars and jobs, two things are clear: the costs will be enormous, and the president's vow to focus on "jobs, jobs, jobs" can no longer be believed. Early returns on ObamaCare are coming in, and they belie proponents' claims of job creation and cost reduction. The costs will increase. They are merely being shifted to the states and to America's businesses, large and small. AT&T, the country's largest telephone company, announced Friday it will take a $1 billion first-quarter charge related to the new health care law. The...
  • Other Tax Shoes Begin To Drop

    03/23/2010 5:46:34 PM PDT · by Kaslin · 37 replies · 2,310+ views ^ | March 23, 2010 | INVESTORS BUSINESS DAILY staff
    Health Care Reform: The Senate parliamentarian dims GOP hopes on a reconciliation bill that contains even more onerous taxes and even a financial incentive to lay people off. No wonder Speaker Pelosi is laughing. We'll acknowledge that the signing of ObamaCare into law is a historic event, but we think the Weather Channel broadcasting the signing ceremony was a bit much. On the other hand, stormy political weather and more dark clouds lay ahead. The cries of "repeal" and "remember in November" are rising, and state attorneys general are taking the feds to court over the unconstitutional mandates and usurpation...
  • Tax Fairness Reaches A Tipping Point

    03/16/2010 5:16:23 PM PDT · by Kaslin · 26 replies · 1,200+ views ^ | March 16, 2010 | INVESTORS BUSINESS DAILY Staff
    Fiscal Policy: The latest data show a record number of people with no tax obligation. We also have the highest-earning nontaxpayers ever. With more riding the wagon and fewer pulling, it should soon break down. A record number of the 142 million tax returns filed in 2008 resulted in no taxes owed, according to the Tax Foundation's analysis of the latest IRS data. About 51.6 million returns, or 36.3%, were filed by those whose deductions, exemptions and tax credits wiped out any federal income-tax obligation. These aren't people who have overpaid their taxes or had so much withheld from their...
  • AT&T will take $1B non-cash charge for health care

    03/26/2010 12:06:00 PM PDT · by mlocher · 22 replies · 1,206+ views
    AP via Yahoo News ^ | 3/26/2010 | AP
    NEW YORK – AT&T Inc. said Friday it will take a $1 billion non-cash charge in the first quarter related to the health care overhaul. AT&T's charge is the largest announced so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses. AT&T said the charge is to reflect the change of the tax treatment of Medicare subsidies. Companies say the health care overhaul will make a subsidy that companies receive for retiree drug coverage taxable...
  • AT&T Plans $1 Billion Charge Tied to Health Benefits

    03/26/2010 12:03:05 PM PDT · by NautiNurse · 24 replies · 1,710+ views
    WSJ Online ^ | 26 March 2010 | Roger Cheng
    AT&T Inc. plans to take a noncash $1 billion charge in the first quarter in anticipating the impact of changes brought by the nation's health-care overhaul. AT&T follows Deere & Co., Caterpillar Inc. and AK Steel Holding Corp. in taking the one-time charge. The companies are taking the charges now even though the impact of the health-care law won't be felt until 2013.
  • ‘Cap and Trade’ Loses Its Standing as Energy Policy of Choice

    03/26/2010 6:56:54 AM PDT · by reaganaut1 · 31 replies · 943+ views
    New York Times ^ | March 25, 2010 | John M. Broder
    Less than a year ago, cap and trade was the policy of choice for tackling climate change. Environmental groups and their foes in industry joined hands to embrace the approach, a market-driven system that sets a ceiling on global warming pollution while allowing companies to trade permits to meet it. President Obama praised it by name in his first budget, and the authors of the House climate and energy bill passed last June largely built their measure around it. Today, the concept is in wide disrepute, with opponents effectively branding it “cap and tax,” and Tea Party followers using it...
  • Obamacare Triples Tax on Seasonal Employees (Commiecare™ strikes again!)

    03/25/2010 9:42:26 PM PDT · by Libloather · 6 replies · 840+ views
    Rush Limbaugh .com ^ | 3/25/10 | The Maha
    Story #6: Obamacare Triples Tax on Seasonal Employees RUSH: I said earlier that we were not going to be distracted by all of this trumped-up, phony, used-for-cheap-political-purposes talk of Republicans inciting violence. "'With Obama's Government Takeover of Health Care, New Regulations Will Force Businesses to Pass Costs to Consumers and Hire Less Workers.'" This is from Katharine Seelye, Kit Seelye in: "'Employer Mandate Becomes Sticky Issue In Reconciling Bills,'" The New York Times's 'Prescriptions' Blog," October 31st last year. "'Those who are likely to be affected are those who work at smaller firms where coverage isn’t as comprehensive and their...
  • Pelosi Celebrates Approval of Final HC Bill That Slaps Taxes on Disabled and Children

    03/25/2010 11:22:05 PM PDT · by Welshman007 · 7 replies · 413+ views
    Conservative Examiner ^ | 3/26/2010 | Anthony G. Martin
    Like a drunken captain of a sinking ship who celebrates the fact that the crew was saved at the expense of the passengers, including the women and children, Nancy Pelosi hailed the approval of the final version of ObamaCare. The bill slaps heavy taxes on medical devices and prosthetics used by veterans, the elderly, the disabled, and even children. But it all was worth it, you know. It was most important that Barack Obama and the neo-Marxists in Congress get 'a win' under their belts. Republicans sought to delete these taxes but the Democrat-controlled Senate rejected that proposal, allowing the...
  • Obamacare: New Tanning Tax

    03/25/2010 3:09:51 PM PDT · by Oldeconomybuyer · 27 replies · 788+ views
    WTVM-TV ^ | March 25, 2010 | By Laura Ann Sills
    COLUMBUS, GA (WTVM) - More than 30 million people tan indoors every year. The government expects to generate almost three billion dollars over ten years by taxing each of them 10%. This tax is part of the new Health Care law. "To have the government come in and just non-discriminately give us another tax like this is just one more blow. It is one more thing hurting our American dream," said Carla Plazas. Plazas owns New Life Tanning in Columbus and has been in the indoor tanning business for 10 years. She has been following the Health Care legislation and...
  • Capital Gains Taxes Set To Rise, Crimping Investment, Savings

    03/24/2010 11:55:54 PM PDT · by SmartInsight · 7 replies · 893+ views
    Bull markets always have to climb a wall of worry. This one also will have to climb a stairway of tax hikes. Democrats' health care overhaul (including the still-pending reconciliation bill) nearing the finish line would apply a 3.8% Medicare tax on investment gains earned by upper-income households starting in 2013. Along with a partial expiration of 2003 tax cuts at year-end, rates on long-term capital gains and dividends are due to jump in two steps from 15% to 23.8%. The big shift in tax policy is one that could raise the barrier to saving and investment in a savings-short...
  • Tanning tax angers American salon owners

    03/23/2010 3:44:20 PM PDT · by RedDogzRule · 58 replies · 2,136+ views
    Guardian ^ | 12/23/09 | Ed Pilkington
    In a last-minute change to the Senate bill that was agreed on Friday, a 10% tax was introduced into the legislation on all indoor tanning sessions as a way of reducing the cost of extending healthcare to many of the medically uninsured. Democratic organisers expect the levy to bring in almost $3bn over 10 years.
  • That Didn’t Take Long: "My family health insurance rates going up $200/month"

    03/23/2010 2:09:26 PM PDT · by wrrock · 35 replies · 1,652+ views
    “So I just got a call from my health insurance provider. My family rates are going up $200/month … $2400/year per employee effective April 1st. Didn’t take long after signing to get this s**t going. So much for the “my plan will save Americans” $2500/year in Healthcare premiums. PS: One way or another the employees will be paying every single penny of that cost. Either directly through lower wages (which will do great things for consumer spending and the economy) or indirectly as people are either laid off or not hired in the first place.
  • Obama Lied When He Said His Plan Was Revenue Neutral

    02/22/2010 2:20:16 PM PST · by Shellybenoit · 9 replies · 358+ views
    The Lid/CBO ^ | 2/22/2010 | The Lid
    Has Jon Lovitz been hired by the White House to be the President's new healthcare adviser? "Yeah That's the ticket. The initial claims by President Obama was that his newly created version of Obamacare would be revenue neutral, then it was followed up by something like...Uh, well, did I say neutral? I meant to say it would save money, cut the deficit yeah, I said cut the deficit, sure...that's the ticket.
  • Obama: "I may have to reneg on my pledge not to raise taxes on middle class"

    02/11/2010 1:03:25 PM PST · by pabianice · 217 replies · 6,649+ views
    Fox News Channel | 2/9/10
    Per Fox, Obama just said that "All ideas are on the table" regarding taxing the middle class/people making less than $200K a year. Developing...
  • To Cut Debt, Obama Shifts on No Tax Vow

    02/11/2010 1:28:30 PM PST · by jessduntno · 39 replies · 1,197+ views
    NYT ^ | CALMES
    By JACKIE CALMES President Obama, still seeking to get Congressional Republicans to join in a bipartisan commission to reduce the federal debt, suggested he would be willing to break his campaign promise against raising taxes on households with less than $250,000 annual income. “The whole point of it is to make sure that all ideas are on the table,” the president said in the interview on Tuesday with Bloomberg BusinessWeek that the publication released online today. That included not only tax increases, he added, but also spending on the popular government health programs, Medicare and Medicaid, whose fast-growing costs are...
  • Soaking the Rich Never Works

    02/09/2010 4:37:41 PM PST · by sidewalk · 6 replies · 432+ views
    Fox News ^ | February 9, 2010 | Glenn Beck
    The New York Times is doing their best to cover the spending tracks left by President Obama. The op-ed, titled "The Truth About the Deficit" could win gold in mental gymnastics. They bend, twist and contort the facts into a pretty little ball of "blame Bush." I showed you yesterday that George W. Bush was part of the problem, but Obama is pressing the accelerator. The Times claims that the deficit is the result of cutting taxes on the wealthy and they offer this stern warning: "The last thing the government should do is slash spending." History tells us that...
  • Beverage industry douses tax on soft drinks (Obama plan is scrapped)

    02/09/2010 11:06:31 AM PST · by a fool in paradise · 25 replies · 672+ views
    Houston Chronicle ^ | Feb. 8, 2010, 9:18AM | By TOM HAMBURGER and KIM GEIGER
    Employing a broad-based lobbying effort, the soft drink industry has smothered a plan to tax sugared beverages — a plan advocates said would have reduced obesity and helped finance health care reform. Only months ago, public health advocates thought the tax would be a natural for congressional Democrats looking for revenues to fund expanded health insurance coverage. The soaring costs of treating ailments related to excess weight — including diabetes and heart disease — added urgency to the issue. But the White House staff reviewing funding options never embraced the idea even after President Barack Obama expressed interest last summer....
  • Administration appealed to Reuters to take down 'Backdoor Taxes To Hit Middle Class'. story

    02/02/2010 11:31:48 PM PST · by Blonde · 86 replies · 5,016+ views
    Business Insider ^ | Feb. 2, 2010 | Gillian Reagan
    The lead story at as of 11:30 a.m. this morning was "**REUTERS: Backdoor taxes to hit middle class." But Reuters withdrew the article last night. Drudge noted the change and wrote: "**REUTERS pulls tax story..." then added another link to the top left margin: "Largest-ever federal payroll to hit 2.15 million employees..." So what happened? According to a Reuters rep, the was withdrawn "due to significant errors of fact." "The story was wrong on multiple points and should not have gone out," she emailed us. A formal withdrawal will issued will address specific points that were incorrect later today....
  • Is Congress Exempting Itself From Health Insurance Tax?

    01/26/2010 11:30:26 AM PST · by ColdOne · 9 replies · 696+ views
    The Heritage Foundation ^ | January 25,2010 | Conn Carroll
    It is still far from clear what the White House’s new strategy to pass health care reform will be in the face of Scott Brown’s election to the Senate. But according to Federal News Radio negotiations between the House and Senate are still ongoing, including this victory for House Democrats: Federal employees covered under some of the more expensive plans in the Federal Employees Heath
  • Keep The Cuts

    01/25/2010 5:31:21 PM PST · by Kaslin · 4 replies · 449+ views ^ | January 25, 2010 | INVESTORS BUSINESS DAILY Staff
    Taxes: On the eve of President Obama's first State of the Union address, two Democratic congressmen are advising him to extend the Bush tax cuts instead of letting them expire. Now that's a stimulus. We hear that the administration is considering taking a more populist tack as it sails the choppy political waters of 2010. Some of President Obama's plans reportedly include several tax tidbits for the "middle class," including a doubling of the child care tax credit for families below $85,000 in income, and $1.6 billion for child care and a cap on student loan payments. Such transparent populism...