Keyword: taxation
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President Barack Obama will propose a $10 a barrel tax on oil to pay for transporation programs, reports said Thursday. The proposed tax would help pay for projects to encourage mass transit, high-speed rail and self-driving cars, Politico reported. The proposal is due to be included in Obama's final budget request next week. The Republican-controlled Congress is likely to harshly criticize Obama's plan, which comes in the midst of an election year.
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The U.S. Supreme Court, which delivered major rulings in 2012 and 2015 preserving President Barack Obama's signature healthcare law, on Tuesday declined to take up a new, long-shot challenge to Obamacare brought by an Iowa artist. The court turned away an appeal by Matt Sissel, who had asserted that the 2010 Affordable Care Act violated the U.S. Constitution's requirement that revenue-raising legislation must originate in the House of Representatives, not in the Senate, as the healthcare law did.
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It was the Detroit News headline "Trump goes after Ford Motor Co." not how long Hillary went overtime in the restroom that got our attention. Donald Trump made a whistle stop outside Grand Rapids, Michigan to take aim at Ford’s plans to expand production in Mexico. Trump promised if elected he would threaten manufacturers with big tariffs on imports to discourage building manufacturing plants south of the border. Trump to Ford, "If you build that plant in Mexico, I’m going to charge you 35 percent on every car, truck part that you send into our country," he said. "Every single...
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Big oil is taking no chances with the outcome of Alberta’s royalty review currently underway. In 2007, the industry was surprised when royalties were jacked up despite dozens of corporate presentations to the royalty review panel warning of the fragility of investment economics and the damage increased royalties would cause. Therefore producers and others with significant vested interest have already started the lobbying process. Such is the case with Canadian Natural Resources Limited (CNRL) which made a slide presentation to the new NDP Alberta government on August 20. The industry has obviously learned never to assume politicians actually understand what...
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MINNEAPOLIS (AP) -- The child protection agency in Hennepin County has been ignoring reports of child abuse to ease its caseload and control its budget, according to a national child welfare group. The group, Casey Family Programs, studied the county's system for months and presented the findings of a report released last week to the Hennepin County board on Thursday. Casey Family Programs director Dee Wilson also told the board that child protection workers commonly screened out abuse reports, which means families weren't visited and services weren't offered, the Star Tribune ( http://strib.mn/1IhwPjh ) reported. Additionally, neglect cases are looked...
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While the Obama administration and environmentalists celebrate Pope Francis’ encyclical on global warming, Sen. Jim Inhofe is warning the pope’s views on the subject could be used by the left to enact the biggest tax increase in U.S. history. “I disagree with the pope’s philosophy on global warming,” the Oklahoma Republican said in a statement. “I am concerned that his encyclical will be used by global warming alarmists to advocate for policies that will equate to the largest, most regressive tax increase in our nation’s history.” Francis’s encyclical, called “Laudato Si,” calls for reducing fossil fuel use and increasing green...
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EVERY day, millions of Americans rely on a remarkable network of roads, bridges, subways, trains and buses to connect us to work, school and opportunity. But our transportation system, once the envy of the world, is in jeopardy. In New York City, subways and buses are overcrowded and often unreliable, and roadways and bridges are in dire need of repair and rehabilitation. From the next phase of the Second Avenue subway to plans to connect the Metro-North Railroad to Pennsylvania Station, to the proposed new subway line under Utica Avenue in Brooklyn, there isn’t a short- or long-term expansion project...
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HSBC, Europe’s biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London’s reputation as a global hub for finance and investment. The announcement from HSBC, founded in Asia but a key part of the British establishment, prompted a warm response from Hong Kong, where it is revered as “The Bank”, and silence from the British government. The commitment to the review comes less than two weeks before British parliamentary elections on May 7 and poses challenges for both Prime Minister David Cameron...
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A bipartisan group of senators reintroduced legislation Tuesday to apply sales taxes to all Internet purchases, long a goal of state and local governments as well as traditional "bricks and mortar" retailers. The legislation would require online merchants to collect and remit sales taxes to the local authorities where the purchaser lives. Similar legislation easily passed the Senate, 69-27, last Congress, but stalled in House due to opposition from the Republican leadership. Passage in the Senate is less likely this time since Sen. Mitch McConnell, R-Ky., an opponent of the legislation, is now majority leader. Proponents nevertheless believe they can...
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In the 1930s, tens of thousands of farmers, mostly from Oklahoma, fled the Dust Bowl for California with hopes of a better life. Today it is ironic that California’s Farmers (Farmer Brothers coffee company, that is) has announced that it is fleeing our state for a less expensive destination that includes Oklahoma on the short list. Any humor, however, will no doubt be lost on the 350 employees who are about to lose their South Bay jobs paying $40,000 to $80,000. Farmer Brothers, a fixture in California for more than 100 years, is just another of a long list of...
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President Obama will unveil a $4 trillion budget Monday, featuring an ambitious public works program, a one-time tax on foreign profits kept overseas by corporations, tax credits for middle-class Americans, and a 1.3 percent pay raise for federal employees and troops. The massive document is a blueprint for what Obama has been calling “middle-class economics,” but congressional Republicans are likely to view it merely as the president’s opening bid in a contentious process designed to forge a tax and spending plan for the new fiscal year.
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President Obama plans to call for billions in tax increases on top earners – including a hike in investment tax rates -- in order to fund new tax credits and other measures the White House claims will help the middle class. The president's proposals, which also include eliminating a tax break on inheritances, are likely to be cheered by the Democratic Party's liberal base when they are announced Tuesday night in his State of the Union address. However, the tax increases are all but certain to be non-starters with the new Republican majority on Capitol Hill. The president's address --...
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Record-low gas prices across the U.S. have given rise to fresh talk in Washington of raising the federal gas tax for the first time in over 20 years, with leading Republicans now saying a hike must not be ruled out. The GOP has long resisted calls from business leaders and others to boost the 18.4 cent-per-gallon tax as a way pay for upgrades to the nationÂ’s crumbling roads and bridges. Yet in recent days, senior Senate Republicans have said they want to keep options open and that "nothing is off the table" when weighing the best mechanisms to pay to...
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Tobacco and Firearms. Gifts that keep on giving to the left. (Vanity/Opinion) Let’s use the historic fight against Big Tobacco as a backdrop for the Eric Garner case. Many of us are familiar with the history of the left’s crusade against Big Tobacco. There were epic Congressional and Judicial battles to prove that Big Tobacco lied about the effects of cigarettes. Then followed lawsuits against Big Tobacco which extorted vast transfers of wealth from Big Tobacco to the Government. The hatred of the left to Big Tobacco compared only to the hatred of Kahn to Captain Kirk.
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If you’re trying to convince the Supreme Court not to grant certiorari in a high-profile case, I suspect that publishing an op-ed in the Washington Post on the day the Court is scheduled to consider the petition is not the best strategy. I also suspect that it would be a good idea to ensure than such op-ed not include blatant falsehoods. It would be one thing for such an op-ed for forcefully advocate a given perspective on a contested issue. Quite another for it to simply make stuff up. In this case, however, we see the latter. Friday the Supreme...
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Environmental groups are on track to spend more than $85 million on key races this year, more than ever before, according to an internal memo. The record spending comes as green groups are worried about the fate of the Senate and the future of President Obama’s climate agenda, which they say is crucial to helping the U.S. and other nations curb greenhouse gas emissions and stave off disastrous climate impacts. A memo circulated among five of the nation’s top environmental organizations, and provided to The Hill, summarizes in detail the plan hatched by the groups to put climate change on...
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New York manufacturers are growing at the slowest pace in six months as new orders shrink and shipments barely rise. The Federal Reserve Bank of New York said Wednesday that its Empire State Manufacturing index dropped to 6.2 in October, down sharply from a five-year high of 27.5 in September. Any figure above zero indicates growth. October’s reading is the lowest since April. …
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Strict laws must be put in place to combat New York City’s massive tobacco smuggling problem, former Bureau of Alcohol, Tobacco and Firearms and Explosives Assistant Director Rich Marianos told The Daily Caller News Foundation.“Street gangs, narcotics crews, Russian and Asian organized crime networks, and terrorists are trading cigs for guns, narcotics — even humans,†Marianos, who was with the ATF for 27 years, said.NYC’s disproportionately high cigarette tax is allowing hardened criminals and even terrorists to fund illicit activity and make huge profits, with almost no risk, thanks to lax tobacco smuggling laws.Since 2006, the tax rate on NYC...
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France has seen an explosion in the number of households requesting a deferral or cancellation of part or all of their tax bill in recent years. The country’s public finance body, the DGFiP, says there was a 22% rise in the number of such requests between 2011 and 2013, from around 177,000 to more than 216,000. Over the same period, the number of reminders for payment sent out by the French government has soared from 4.5 million to nearly 10 million. …
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Is Medtronic's massive international corporate merger a billion-dollar tax dodge, an indictment of the U.S. tax code or a business-savvy work-around that could spur investment and growth in the Twin Cities? The answer depends on whom you ask. The $42.9 billion cash-and-stock purchase of Covidien, which was announced Sunday, comes with plans for Medtronic to decamp its executive suite to Ireland, where Covidien is based. It also will nearly double the size of the Fridley-based medical device maker and likely result in no significant change in its 8,000-strong Twin Cities workforce. The company is talking about adding 1,000 workers locally....
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