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Keyword: taxation

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  • Thirty companies paid no U.S. income tax 08-10: report

    11/03/2011 10:40:29 AM PDT · by Sub-Driver · 11 replies
    Thirty companies paid no U.S. income tax 08-10: report Photo 12:52pm EDT By Kevin Drawbaugh (Reuters) - Thirty large and profitable U.S. corporations paid no income taxes in 2008 through 2010, said a study released on Thursday that arrives as Congress faces rising demands for tax reform, but seems unable or unwilling to act. Pepco Holdings Inc, a Washington, D.C.-area power company, had the lowest effective tax rate, at negative 57.6 percent, among the 280 Fortune 500 companies studied. The statutory U.S. corporate income tax rate is 35 percent, one of the highest in the world, but over the 2008-2010...
  • Trick or Treat? The Frightening Cost of Halloween Courtesty of Government

    10/27/2011 8:55:01 AM PDT · by 92nina
    ATR ^ | 2011-10-27 | Americans for Tax Reform Foundation
    ...Businesses not only have to absorb these costs, but also those imposed by income taxes, payroll taxes, corporate taxes, property taxes, capital gains taxes, unemployment insurance taxes, workmen’s compensation taxes, and other payments to federal, state, and local forms of government. When all is said and done, government taxes compose 47.82 percent of the cost of the average kid’s costume, $11.66 of the average price. But the government’s tricks don’t end there. The Halloween season brings with it $2 billion in candy purchases. Due to excise taxation on sweets in addition to the burden of taxes placed on the confectionery...
  • No Representation without Taxation (The dangers of placing power in the hands of non-taxpayers)

    10/26/2011 6:34:18 AM PDT · by SeekAndFind · 3 replies
    American Thinker ^ | 10/26/2011 | Bruce Walker
    The recent Occupy Wall Street ruckus and the drumbeat rhetoric of Democrats in Washington that the rich pay too little shows the dangers of placing power in the hands of those who have no real interest beyond self-interest in the governance of the nation. One rallying cry of our forefathers when the British Crown sought to impose taxes -- really, very modest taxes -- on the colonies without the consent of us colonials was "No taxation without representation!" The logic of that slogan ran something like this: if I have no say in who passes taxes that I must pay,...
  • State Department buys $70,000 worth of Obama memoir (Huh??)

    10/25/2011 2:11:57 PM PDT · by STARWISE · 45 replies
    Washington Times ^ | 10-25-11 | Jim McElhatton
    The U.S. Department of State has bought more than $70,000 worth of books authored by President Obama, sending out copies as Christmas gratuities and stocking “key libraries” around the world with “Dreams from My Father” more than a decade after its release. The U.S. embassy in Egypt, for instance, spent $28,636 in August 2009 for copies of Mr. Obama’s bestselling 1995 memoir. Six weeks earlier, the embassy had placed another order with the same book seller, Kalemat Arabia, for more than $9,000 for copies of the same book, federal purchasing records show. Around the same time, halfway around the world,...
  • Sorry, Wrong Number 9-9-9

    09/30/2011 8:42:11 AM PDT · by Cincinatus' Wife · 64 replies
    The American Spectator ^ | Ross Kaminsky
    ....Of Mr. Cain's many ideas, the most well-known -- in part because of its clever sound-bite name -- is his 9-9-9 plan which aims to replace most current federal taxes (including income tax, death tax, payroll tax, capital gains taxes, and double-taxation of dividends) with a 9% flat tax for business income, a 9% flattax for individual income, and a 9% national salestax. The plan would eliminate almost all deductions. While Mr. Cain's consistent results-oriented approach is admirable -- not least for its contrast with the other candidates -- voters should be wary of the 9-9-9 plan despite its initial...
  • Internal Revenue Service Solicits for Behavioral Engineering Experiments

    09/24/2011 11:37:24 AM PDT · by DogByte6RER · 13 replies ^ | September 16, 2011 |
    Behavioral Experiment Transparency vs Burden Solicitation Number: TIRNO-11-Q-00349 Agency: Department of the Treasury Office: Internal Revenue Service (IRS) Location: National Office Procurement (OS:A:P) Solicitation Number: TIRNO-11-Q-00349 Notice Type: Combined Synopsis/Solicitation Synopsis: Added: Sep 16, 2011 11:03 am The Internal Revenue Service (IRS) intends to issue a sole sourced purchase order to the University of Minnesota's Social Behavior Science Division Research Professors: Marsha Blumenthal and Laura Kalambolidis, for research experiments, data to explore the impacts of Behavioral experiments of alternative reporting regimes: transparency vs. burden. BACKGROUND: The project involves a three-stage laboratory experiment to explore taxpayers' willingness to accept increased reporting...
  • Help! I’m on the IRS hit list

    09/20/2011 7:20:21 AM PDT · by Glenn · 37 replies
    The Globe and Mail ^ | Sep. 20, 2011 9:35AM EDT | MARGARET WENTE
    When my friend Brian told me the American tax police were after him, I thought he must be nuts. Brian is a worrier. He gets a little paranoid sometimes. “We haven’t filed a U.S. tax return in 20 years,” he said. “Now our accountant says we have to – or else.” Brian and his wife are from the States. He took out Canadian citizenship years ago. They’ve lived and worked in Canada for decades. They have no U.S. income or assets. They are 100-per-cent tax compliant – in Canada. “Forget about it,” I advised. “What could they possibly do to...
  • Bound to Past or Bound By Theories Of The Past

    09/10/2011 10:44:58 PM PDT · by Razzz42 · 3 replies
    Because the Supreme Court declared Marxism effectively unconstitutional in 1895, Congress set about carving out itself a new source of funding by altering the Constitution to circumvent the Supreme Court. In 1913, the 16th Amendment to the Constitution made the Marxism’s income tax a permanent fixture in the U.S. tax system. This 16th Amendment gave Congress the legal authority to tax income and then to imprison anyone who resisted. That decree opened the door to the escalating expansion of government put in place tyranny that not even former monarchs could get away with. The lack of term limits created a...
  • Policy Chart: Illinois Loses Most Jobs in the Nation

    08/24/2011 4:25:46 AM PDT · by Freeport
    Illinois Policy Institute | 8/19/2011 | N/A
    In a trend that continues to worsen, more Illinoisans found themselves unemployed in the month of July. Illinois lost more jobs during the month of July than any other state in the nation, according to the most recent Bureau of Labor Statistics report. After losing 7,200 jobs in June, Illinois lost an additional 24,900 non-farm payroll jobs in July. The report also said Illinois’s unemployment rate climbed to 9.5 percent. This marks the third consecutive month of increases in the unemployment rate. Illinois started to create jobs as the national economy began to recover. But just when Illinois’s economy seemed...
  • The 100% Tax

    08/07/2011 7:22:35 AM PDT · by christofortruth · 14 replies · 1+ views
    WWFT ^ | 8/7/2011 | ChristoForTruth
    When we usually speak of taxes we tend to personalize it. For all the hyper-morality we tend to wax fancy about on the macro level, taxes are the one thing we always seem to have to do a little philosophic double-take on. Messing with your money is messing with your own self, your own identity. Really, it is.Income tax, of course, effects most of us--but seemingly, unfortunately, never enough of us. Property tax is in the news every time the liberal sadists here throw a school levy up for vote. Usually we're all connected in some way to the guilt-fest,...
  • Democrats' Definition Of 'Fair'

    08/04/2011 6:20:24 PM PDT · by Kaslin · 19 replies
    IBD Editorials ^ | August 4, 2011 | Staff
    Class Warfare: The president has spoken incesantly about "shared sacrifice" and the importance of everyone paying his or her "fair share." Yet the people whose taxes he wants to raise already shoulder the biggest burden. Throughout the debt-ceiling debate, President Obama rode his talking points hard. He punctuated his lectures about deficits, the debt and the debt ceiling with demands that the debt he and the irresponsible members of Congress have rung up be paid for through a "shared sacrifice" of Americans who pay their "fair share." Senate Majority Leader Harry Reid, the Democrat from Nevada, worked in a variation...
  • (Maryland) Senate budget committee gets lesson in sales tax options

    07/27/2011 12:25:56 AM PDT · by Tolerance Sucks Rocks · 12 replies
    The Baltimore Sun ^ | July 26, 2011 | Julie Bykowicz
    A Senate committee listened Tuesday to the pros and cons of expanding Maryland's sales tax base to include more services, as well as goods purchased over the Internet. The Senate Budget and Taxation Committee spent the day in Annapolis receiving briefings on taxes, the federal debt ceiling, education funding and toll increases. Legislative committees meet occasionally between the 90-day General Assembly sessions. Tangible products, but few services, sold by Maryland retailers are taxed at 6 percent. This year, the sales tax is predicted to generate $4.2 billion, about 30 percent of the state's general fund revenue, according to the Department...
  • Is Recall of Democratic Senators an option to fix our country?

    07/22/2011 5:38:45 PM PDT · by topher · 15 replies
    Various | 7-22-2011 | Vanity
    There is what is going on Wisconsin where Unions are trying to "punish" good Republican state senators with recall efforts. There is also the phrase from the American Revolution: No Taxation without representation. Clearly our liberal Democratic US Senators want to tax people who do not want to be taxed. Obama used the ridiculous phrase that 80% of Americans really want new taxes. Right. What is Obama smoking this week or pills he is popping? In the case of Wisconsin, conservatives are upset about the recall effort. The reason: Governor Walker compaigned on the pledge that he would do away...
  • California Here We Go

    07/19/2011 4:00:11 PM PDT · by zippythepinhead · 18 replies
    Wisdom of Dave ^ | 07/19/2011 | Wisdom of Dave
    California, the Golden State is now experiencing an exodus of businesses both large and small as the state ranks 49 or 50 among the states in business friendly, depending on which study or article you read. But the common denominator is taxes, regulations, and litigation make doing business costly and difficult.
  • Tea Partier Whips Libs Silly on NBC News (VIDEO)

    07/14/2011 9:54:44 AM PDT · by JesseWatters · 15 replies ^ | July 14 | Staff
    On Wednesday’s The Ed Show, MSNBC analyst and Bloomberg View columnist Jonathan Alter claimed that the "massive tax cuts" of the Bush administration did not create jobs, and went on to credit former President Clinton for the low unemployment rate existed for a time during the Bush years. He ended up lecturing fellow panel member Judson Phillips of Tea Party Nation that Tea Party activists would support President Obama’s budget plan if polled and that they are "not as obsessed with tax cuts as you are."
  • Are the Rich Undertaxed? The Democrats’ class-warfare rhetoric is too rich for most Americans.

    07/14/2011 9:17:42 AM PDT · by SeekAndFind · 27 replies
    National Review ^ | 07/14/2011 | Michael G. Franc
    Rarely has class-warfare rhetoric been so overwrought. Last week, Senate Majority Leader Harry Reid (D., Nev.) “explained” the GOP’s motive in withdrawing from stalled debt-ceiling negotiations this way: Why? To protect oil companies. To protect the owners of yachts and corporate jets. To protect corporations that ship jobs overseas. To protect millionaires and billionaires from paying their fair share. Sen. Sheldon Whitehouse (D., R.I.) fleshed out this explanation with a few specifics: When our Republican colleagues talk about defending against tax hikes, they are talking about . . . protecting the top 400 income earners in the country who, on...
  • Gasoline Taxes by State (get out while you still can)

    06/29/2011 1:38:01 PM PDT · by Fred · 90 replies · 1+ views
    Big Picture ^ | 062911 | Barrty Ritholtz
    Interesting map, showing what each state charges in taxes for gasoline, per gallon....
  • Bachmann Favors National Sales Tax

    06/13/2011 12:36:26 PM PDT · by RWK · 119 replies
    NewsMax ^ | 6/13/2011 | Martin Gould
    Prospective presidential candidate Michele Bachmann says she wants a national sales tax, but can’t vote for it because she believes Congress would just add it to the current income tax system. In a profile in The Wall Street Journal, Bachmann says she loves the FAIR tax proposal but just cannot bring herself to back it in the House. “If we were starting over from scratch, I would favor a national sales tax," the three-term Minnesota congresswoman says. But the reality is that if it were enacted, the chances are “we would end up with a dual tax, a national sales...
  • When Government Jumps the Shark

    06/13/2011 10:14:58 AM PDT · by Sherman Logan · 9 replies
    The American Interest ^ | June 10, 2011 | WALTER RUSSELL MEAD
    In my last post, I wrote about “Fanniegate“, the scandalous goings on by well connected Democrats that trashed the nation’s financial system. It was not that Republicans didn’t join the fun or that Republican malefactors of great wealth weren’t abusing the public trust in other ways. The moral and intellectual meltdown of the American elite is a robustly bipartisan affair and there is plenty of mud to throw at all sides. But Fannie Mae represents a special problem for the Democratic Party and Democratic ideas. It is not just a vitally important institution led by prominent Democratic figures and part...
  • GOP Attacks Bill That Would Ease Local Tax Votes

    06/13/2011 9:17:06 AM PDT · by EagleUSA · 5 replies
    Mercury News. com ^ | 6/13/2011 | Lien Hoang
    SACRAMENTO, Calif.—Now that Republican lawmakers have voted against a renewal of expiring tax hikes, Democrats are turning to another, more complex way to generate revenue. A bill proposed by state Senate President Pro Tem Darrell Steinberg and narrowly approved last week would dramatically expand the taxing powers of local governments, school boards and other jurisdictions. But the bill, SB23-1X, would lead to such a complicated latticework of taxes that opponents say Steinberg is merely pulling a stunt to ramp up pressure against Republican lawmakers. The Sacramento Democrat said his legislation would give public schools and law enforcement agencies a firmer...