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Keyword: tax

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  • Trump Is Said to Abandon Contentious Border Tax on Imports

    04/25/2017 3:41:07 PM PDT · by Theoria · 35 replies
    The New York Times ^ | 25 April 2017 | KATE KELLY, RACHEL ABRAMS and ALAN RAPPEPORT
    The Trump administration has dropped any support for a so-called border adjustment tax on imports, according to two people who have been briefed on the matter. The tax was intended to be the keystone of a tax reform proposal developed by Republican leaders in the House of Representatives. But it faced immense pushback from influential companies including Walmart and Toyota. If enacted, a border adjustment tax would have effectively imposed significant levies on billions of dollars of imported goods. Retailers in particular would have been hard hit, as products ranging from tires to T-shirts, which are imported from overseas, would...
  • A Bull Market with Momentum Starts this Wednesday?

    04/22/2017 7:14:35 PM PDT · by ShivaFan · 13 replies
    opinion | 04-22-2017 | ShivaFan
    President Trump told The Associated Press on Friday that he intends to release a tax reform plan next week that includes a "massive tax cut" for businesses and individuals. This is what I have been waiting for and have been building my portfolio since December on this hope. I was very concerned when the "Freedom" Caucus damaged the momentum by not accepting reality and being hardliners who could not wait to stage in the required changes needed in the name of what Americans have their hopes in - jobs and the economy. My position is the DOW already "priced in"...
  • (CT)State lawmakers propose sales, income tax increases

    04/21/2017 6:51:43 PM PDT · by matt04 · 27 replies
    Taxes could soon be on the rise if a new house bill passes. House bill 7322 seeks to increase the sales tax up to 6.99 percent from its current rate of 6.35 percent and increase the income tax for some state residents. Other aspects of the bill would help towns generate more money by increasing state owned property payments. Properties like colleges and hospitals owned by the state would see an increase of their payments to their towns by roughly 23 percent. If the bill passes, regional governments would be responsible for creating plans to help pay for that. Another...
  • POLL: Should President Trump release his tax records?

    04/16/2017 8:50:22 AM PDT · by Jeff Chandler · 87 replies
    Headline of the Day Poll Should President Trump release his tax records? Yes. The American people deserve to know what is in them. No. They are totally irrelevant.
  • Filing Taxes in Japan and Elsewhere Is a Breeze. Why Not Here?

    04/14/2017 9:45:32 AM PDT · by SeekAndFind · 32 replies
    New York Times ^ | 04/14/2017 | T.R. Reid
    Ah, the blithe joys of springtime in the United States. Azaleas in bloom at the Masters, breezy picnics on balmy afternoons, Easter egg hunts — and the annual ordeal of tax forms, with helpful I.R.S. instructions like this: “Go to Part IV of Schedule I to figure line 52 if the estate or trust has qualified dividends or has a gain on lines 18a and 19 of column (2) of Schedule D (Form 1041) (as refigured for the AMT, if necessary).” Americans will spend more than six billion hours this year gathering records and filling out forms, just to pay...
  • Trump Scraps His "Phenomenal" Tax Plan, Goes Back To Drawing Board

    04/10/2017 12:47:43 PM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 04/10/2017
    Remember when Trump promised in early February that he would unveil a "phenomenal" tax plan within two to three weeks? Well, it was just scrapped, because as AP reports, Trump has scrapped the tax plan he campaigned on and is going back to the drawing board, hoping to find a plan that will have Republican consensus, something his current proposal has failed to achieve. In doing so, the president threatens the timetable of what many had seen as the primary driver behind his entire first year agenda, which is not in peril, and may not come until early 2018...
  • Republican lawmakers to file bill calling for FATCA repeal

    04/08/2017 5:01:22 AM PDT · by vannrox · 32 replies
    Expat Blog ^ | 6APR17 | iExpats
    Two republican lawmakers are about to present a bill calling for the unpopular FATCA tax reporting law’s repeal. USA lawmakers have scheduled a first hearing on April 26 for a bill requesting the repeal of the controversial and much-disliked FATCA legislation. Republican anti-FATCA campaigners Senator Rand Paul and Representative Mark Meadows are determined to end the chaos caused to USA expats and overseas financial institutions since the unpopular legislation was introduced. Should the house vote for repeal, the FATCA legislation underpinning the Internal Revenue Service’s links with foreign governments will be a thing of the past. In a letter to...
  • Here’s how much Gov. Jerry Brown wants to raise the gas tax to fix crumbling roads (GAG!)

    03/30/2017 11:11:51 AM PDT · by AngelesCrestHighway · 51 replies
    AP ^ | 03/29/2017 | AP Staff
    California’s governor and legislative leaders on Wednesday proposed raising $52 billion to fix the state’s roads through a big gasoline tax increase, higher car registration fees and a charge on emission-free vehicles. The 10-year plan would boost gasoline excise taxes for the first time in more than two decades, raising them 12 cents per gallon — a 43 percent increase. The tax would rise automatically with inflation. For the first time, owners of zero emission vehicles would pay a $100 annual fee because they use public roads but don’t pay gasoline taxes that fund highway maintenance. The plan also includes...
  • Florida House pitches nearly $300 million in tax cuts

    03/30/2017 1:05:30 PM PDT · by ChicagoConservative27 · 16 replies
    TALLAHASSEE — A wide-ranging $296.8 million tax cut package from the House would eliminate sales taxes on diapers and feminine hygiene products, offer tax "holidays" for purchasing school and hurricane supplies, and trim a commercial lease tax. The package, introduced Wednesday by the House Ways & Means Committee, is smaller than a collection of tax cuts proposed by Gov. Rick Scott. The fate of the proposals will depend on upcoming budget negotiations between the House and Senate. Ways & Means Chairman Jim Boyd, R-Bradenton, said the House package would provide multi-year relief that could potentially reach $949 million and grow...
  • Get ready to pay more at the pump; California's gas taxes could see 43 percent hike

    03/30/2017 8:38:58 AM PDT · by LibWhacker · 47 replies
    California’s governor and legislative leaders on Wednesday proposed raising $52 billion to fix the state’s roads through a big gasoline tax increase, higher car registration fees and a charge on emission-free vehicles. The 10-year plan would boost gasoline excise taxes for the first time in more than two decades, raising them 12 cents per gallon — a 43 percent increase. The tax would rise automatically with inflation. For the first time, owners of zero emission vehicles would pay a $100 annual fee because they use public roads but don’t pay gasoline taxes that fund highway maintenance. The plan also includes...
  • Socialist Health Care Disguised as Tax

    03/27/2017 7:18:42 AM PDT · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 03/27/17 | Dr. Ileana Johnson Paugh
    We can make suggestions until Doomsday, Obamascare is here to stay It appears that Obamacare is here to stay. Those doctors who grew up with the conditioning notion of utopian “social justice” love it. Those doctors who hate the government intrusion and regulation into their medical practice hate it. The American public is split as well along those lines. Nobody really believed that Obamacare, deplorably named the Affordable Care Act, would be amended to benefit the wishes of the American people, much less repeal it. Once a bureaucracy has been ensconced and billions and billions of dollars have been spent...
  • Paul Ryan: Failure of Obamacare Replacement Makes Tax Reform Harder

    03/25/2017 8:46:50 AM PDT · by davikkm · 76 replies
    breitbart ^ | JOHN CARNEY
    The White House tried very hard Friday to send a clear message that the success of President Donald Trump’s tax and infrastructure agenda does not turn on the fate of the Obamacare replacement bill. House Speaker Paul Ryan, only minutes after pulling his health care bill, appeared to at least partially contradict that. “Yes. This does make tax reform more difficult,” Ryan said. “But it does not in any way make it impossible.” Even though Ryan went on to say the House would “proceed with tax reform,” he appeared to be far less optimistic than the two top Trump administration...
  • IRS Still Hasn’t Changed The Policy It Used To Justify Targeting Tea Party, Conservative Groups

    03/23/2017 11:23:09 AM PDT · by george76 · 12 replies
    The Daily Caller News ^ | 03/22/2017 | Ethan Barton
    An obscure bureaucratic policy that allowed IRS officials to target conservative and Tea Party tax exemption applicants during the 2010 and 2012 election campaigns is still in place, meaning the same abuses may be continuing, according to a nonprofit government watchdog. The federal tax agency’s policy requires IRS officials to stop processing tax-exempt applications that are “likely to attract media or congressional attention,” the Cause of Action Institute said in a report made public Wednesday. The policy also directs IRS officials to prepare “sensitive case reports” for their supervisors and to ignore “the merits of the application” if it involved...
  • Philly soda tax: Pepsi tells grocery stores it won’t offer 2-liters or 12-packs

    03/22/2017 9:12:10 PM PDT · by Paul R. · 38 replies
    BillyPenn.com ^ | March 21, 2017 | Mark Dent
    Philadelphians will soon no longer be able to purchase 2-liters or 12-packs of Pepsi soda products at local stores, according to grocers. Managers of two independent Philly grocery stores confirmed they’d received letters from Pepsi saying the company would no longer distribute 2-liters or 12-packs to Philadelphia stores, as of March 20.
  • Rich New Yorkers Ask State to Raise Their Taxes

    03/22/2017 2:59:02 PM PDT · by Trump20162020 · 26 replies
    NBC News ^ | March 21, 2017 | AP
    ALBANY, N.Y. — Some of the wealthiest New Yorkers are asking the state to raise their taxes. Eighty people including George Soros, Steven Rockefeller and Abigail Disney wrote to lawmakers and Democratic Gov. Andrew Cuomo saying they and other top earners should pay more to support schools, roads, bridges and programs to help poor and homeless residents of the state. "Now is the time to invest in the long-term economic viability of New York," the letter reads. "We need to invest in pathways out of poverty and up the economic ladder for all of our fellow citizens, including strong public...
  • Rachael Maddow’s Ratings Drop After Trump Tax Form Scoop

    03/20/2017 7:54:08 AM PDT · by Epoch Times · 26 replies
    Epoch Times ^ | March 20, 2017 | Jack Phillips
    MSNBC’s Rachel Maddow had the “story of the century” when she reported on President Donald Trump’s tax returns. It turned out to be two pages of his tax returns from 2005, showing he paid $38 million in taxes on a 25 percent tax rate. The lead-in to her program was akin to a complex form of clickbait, a bait-and-switch tactic to gain more viewers and audience. Fellow journalists and viewers were unhappy for Maddow promoting the story in the manner that she did. Maddow, speaking on NBC’s “Tonight Show” with Jimmy Fallon, seemingly agreed with Fallon that the report was...
  • "Jail Time!" Trump Slams Snoop Dogg Assassination Video, Mocks MSNBC's Tax Leak

    03/15/2017 6:34:39 AM PDT · by Enlightened1 · 15 replies
    Zero Hedge ^ | 03/15/17 | Tyler Durden
    After a several day self-imposed silence, Trump took to Twitter on Tuesday morning, slamming both Snoop Dogg's recent controversial music clip and last night's MSNBC leak of his 2005 tax return.   Two days after rapper Snoop Dogg released a music video in which he shoots a "f--king clown" dressed as Trump with a toy gun, an angry Trump tweeted  "Can you imagine what the outcry would be if @SnoopDogg, failing career and all, had aimed and fired the gun at President Obama? Jail time!"   As the Wrap reported yesterday, a representative for the U.S. Secret Service said that...
  • BREAKING DRUDGE: MSNBC HAS TRUMP TAX RETURNS

    03/14/2017 4:48:36 PM PDT · by SomeCallMeTim · 549 replies
    Twittter ^ | 3/14/17 | Matt Drudge
    Breaking on Drudge, from Rachel Madcow's twitter feed. She claims to have Trump's Tax Returns.
  • State House considers tax break for rural internet (South Dakota)

    02/28/2017 5:59:58 AM PST · by davikkm · 3 replies
    The state Senate has already endorsed the measure. Legislators in the House could consider it as soon as Tuesday. Companies that provide the internet service can apply for repayments of some, or all of sales taxes on a project. The state Board of Economic Development decides the amount of the refund.
  • Feds Spending $393,790 Studying Transwomen in Uganda

    02/26/2017 2:22:25 AM PST · by GonzoII · 39 replies
    Free Beacon ^ | February 26, 2017 4:59 am | Elizabeth Harrington
    The National Institutes of Health is spending nearly $400,000 studying transwomen in Uganda. A new grant worth $163,996 was awarded just six days into the Trump administration, continuing a project that was initially awarded in April 2016.