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Keyword: taxbreaks

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  • A Big Corporate Tax Cut in the United States Will Bring More Prosperity to China and Europe

    12/14/2017 5:41:03 AM PST · by Kaslin · 16 replies
    Townhall Finance.com ^ | December 13, 2017 | Daniel J. Mitchell
    When Ronald Reagan slashed tax rates in America in the 1980s, the obvious direct effect was more prosperity in America.But the under-appreciated indirect effect of Reaganomics was that it helped generate more prosperity elsewhere in the world.Not because Americans had higher income and could buy more products from home and abroad (though that is a nice fringe benefit), but rather because the Reagan tax cuts triggered a virtuous cycle of tax competition. Politicians in other countries had to lower their tax rates because of concerns that jobs and investment were migrating to America (Margaret Thatcher also deserves some credit since...
  • NFL loses big tax subsidy in GOP tax plan

    11/02/2017 10:12:07 PM PDT · by Kevin in California · 14 replies
    Conservative Review ^ | 10-02-2017 | Chris Pandolpho
    It looks like Congress is taking steps to end some of the special tax breaks and subsidies for major sports leagues in its tax reform package. Professional sports leagues like the NFL enjoy tax exemptions on the municipal bonds that are used to build their stadiums. A provision in Sec. 3604 eliminates this perk. If sports teams want to build new stadiums, they’re now going to pay federal taxes to do it.
  • Amazon offered billions in tax breaks by several cities for second U.S. headquarters

    10/19/2017 10:27:39 AM PDT · by SeekAndFind · 22 replies
    Reuters ^ | 10/19/2017
    U.S. cities are offering Amazon.com Inc (AMZN.O) at least as much as $7 billion in tax breaks ahead of a Thursday deadline as they compete to house its second headquarters. The world’s largest online retailer has won promises from elected officials who are eager for the $5 billion-plus investment and up to 50,000 jobs that will come with “Amazon HQ2.” New Jersey proposed $7 billion in potential credits against state and city taxes if Amazon locates in Newark and sticks to hiring commitments, according to a Monday news release from the governor’s office. Across the Hudson River, New York City...
  • The NFL Is Attacking An America That Has Treated It Very Well. Time To End The Tax Breaks

    10/15/2017 8:13:42 AM PDT · by Enlightened1 · 54 replies
    Fox News ^ | 10/15/17 | Matt Gaetz
    While we glorify football players for their accomplishments on the field, they are not heroes. I recently visited with a real hero – a young Army sergeant from my congressional district who still gets body tremors when he stands. Bombs bursting in the air exploded over his unit in Afghanistan, leaving shards of metal stuck in his skull. When I entered his room at Walter Reed National Military Medical Center, he proudly stood at full attention, brimming with nervous energy. I had come to thank him on behalf of a grateful nation, and the sergeant was as respectful as he...
  • Trump: Say, What’s Up With This NFL Tax Break, Anyway? (Crony Capitalism)

    10/11/2017 10:55:55 AM PDT · by SeekAndFind · 14 replies
    Hotair ^ | 10/11/2017 | Ed Morrissey
    Eventually, the NFL-protest debate was going to get to crony capitalism, right? Right. The only question is which tax incentives would come under fire, and which actually matter. Donald Trump decided to take aim at the league’s “massive tax breaks” this morning, and demand a change in law to eliminate them: Why is the NFL getting massive tax breaks while at the same time disrespecting our Anthem, Flag and Country? Change tax law!— Donald J. Trump (@realDonaldTrump) October 10, 2017 “Why is the NFL getting massive tax breaks while at the same time disrespecting our Anthem, Flag and Country?...
  • Indiana to give United Technologies $7 million in tax breaks to keep Carrier jobs in state

    12/01/2016 1:09:50 PM PST · by SeekAndFind · 33 replies
    CNBC ^ | 12/01/2016 | Jacob Pramuk
    Indiana agreed to give United Technologies $7 million in financial incentives over a decade to persuade the industrial giant to keep roughly 1,000 Carrier jobs in the state, Carrier said Thursday. Carrier, United Technologies' heating and air conditioning unit, had planned to close a furnace plant in the state and move it to Mexico. Carrier will invest about $16 million in Indiana to keep operations there, a source told NBC News. In a statement Thursday, Carrier said the financial incentives are "contingent upon factors including employment, job retention and capital investment." The company said Wednesday that state "incentives" were "an...
  • The New York Times Building

    10/02/2016 6:29:02 AM PDT · by Alberta's Child · 11 replies
    Wikipedia ^ | N/A | Wikipedia
    The New York Times Building is a skyscraper on the west side of Midtown Manhattan, New York City that was completed in 2007. Its chief tenant is The New York Times Company, publisher of The New York Times as well as the International New York Times, and other newspapers. Construction was by a joint venture of The New York Times Company, Forest City Ratner (Forest City Enterprises's New York subsidiary), and ING Real Estate. --- snip --- The site for the building was obtained by the Empire State Development Corporation (ESDC) through eminent domain. With a mandate to acquire and...
  • Enough with those corrupt, taxpayer-paid bribes to Hollywood

    08/11/2016 9:45:22 PM PDT · by TBP · 2 replies
    The New York Post ^ | August 10, 2016 | 8:15pm | Michelle Malkin
    Government officials make phony-baloney claims that their public-private “investments” will pay for themselves. But study after study, on both the progressive left and the free-market right, shows that the economy-stimulating effect of public subsidies for private corporate preferences (movies, sports stadiums, malls, hotels, you name it) is negligible. Loan guarantees. Refundable tax credits and rebates. Tax-increment financing. Tax-exempt bonds. All these enticements dangled by thirsty bureaucrats before wealthy developers, sports team owners and Hollywood moguls who don’t need them amount to blatant redistributions of wealth. The independent California Legislative Analyst’s Office found that for every dollar California spent on the...
  • Coal executive demands tax break for industry in free fall

    01/27/2016 4:35:22 PM PST · by Olog-hai · 18 replies
    Associated Press ^ | Jan 27, 2016 5:36 PM EST | Jonathan Mattisse
    The chief executive of one of the nation's largest coal producers, Murray Energy, made an emotional call Wednesday for steep cuts in state mining taxes to support an industry in free fall. Raising his voice frequently during a 38-minute speech, Robert Murray blasted politicians for "platitudes and lip service" as the coal industry sheds thousands of jobs and producers go bankrupt. He called on state leaders to drop the coal severance tax from 5 to 2 percent, saying coal has paid more than its fair share to West Virginia already. "These government officials can no longer say that they support...
  • EU: Belgium gave illegal tax breaks totaling $760 million

    01/17/2016 7:52:57 PM PST · by Olog-hai · 8 replies
    Associated Press ^ | Jan. 11, 2016 8:22 AM EST | Raf Casert
    The European Union has ordered Belgium to recover some $760 million in illegal tax breaks from 35 multinationals, its latest ruling against the sweet deals many member states offered to some of the world's biggest companies. EU Competition Commissioner Margrethe Vestager said Monday the tax advantage given to a select group of mainly European companies "distorts competition" by putting smaller competitors "on an unequal footing." "National tax authorities cannot give any company, however large, however powerful an unfair competitive advantage compared to others," Vestager said. "This scheme puts smaller competitors at an unfair disadvantage." ...
  • Alberta’s Oil Companies Warn Government On Taxes

    09/07/2015 8:35:49 AM PDT · by bananaman22 · 2 replies
    Oilprice.com ^ | 09-07-2015 | T.a.x
    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...
  • Clinton proposes tax breaks for corporate profit-sharing

    07/16/2015 11:02:34 AM PDT · by Olog-hai · 56 replies
    Associated Press ^ | Jul 16, 2015 2:00 PM EDT | Jill Colvin
    Democratic presidential candidate Hillary Rodham Clinton is proposing new incentives to encourage corporations to share profits with workers. Her plan is to give businesses that offer employees a share of profits a two-year tax credit equal to at least 15 percent of their profit-sharing payments. The plan would exclude high-income workers and firms where only a small percentage of employees benefit. …
  • Archives show Hillary Clinton OK'd tax breaks for nonprofits

    05/22/2015 8:57:54 AM PDT · by NormsRevenge · 7 replies
    Yahoo News ^ | 5/22/15 | Stephen Braun and Jack Gillam - AP
    LITTLE ROCK, Ark. (AP) — As first lady in the final year of the Clinton administration, Hillary Rodham Clinton endorsed a White House plan to give tax breaks to private foundations and wealthy charity donors at the same time the William J. Clinton Foundation was soliciting donations for her husband's presidential library, recently released Clinton-era documents show. ... White House documents in the Clinton Library reviewed by The Associated Press show Hillary Clinton and Bill Clinton were kept apprised about a tax reduction package that would have benefited donors, including those to his presidential library, by reducing their tax burden....
  • House votes to make expired business tax breaks permanent

    02/13/2015 11:01:18 AM PST · by Olog-hai · 5 replies
    Associated Press ^ | Feb 13, 2015 12:10 PM EST | Stephen Ohlemacher
    The House voted Friday to make permanent an expired tax break designed to help small businesses invest in equipment and property, defying a veto threat by the White House. President Barack Obama objects to the bill because it would add $79 billion to the budget deficit over the next decade. The bill is part of a package of more than 50 temporary tax breaks that Congress routinely extends every year or two. The entire package expired at the start of the year. Now, House Republicans are moving to make selected tax breaks permanent. On Thursday, the House passed a $14.3...
  • Few critics as Nevada mulls Tesla tax breaks

    09/10/2014 10:40:41 PM PDT · by Olog-hai · 16 replies
    Associated Press ^ | Sep 11, 2014 1:13 AM EDT | Scott Sonner
    Critics say Nevada lawmakers are gambling with taxpayers’ money, but they clearly were in the minority Wednesday night as legislators moved forward with an unprecedented package of up to $1.3 billion in incentives they hope to approve in the days ahead to bring Tesla Motors’ $5 billion battery factory to the state. Republican Gov. Brian Sandoval urged legislators in the two Democrat-controlled houses to seize an “extraordinary opportunity” to land the electric car maker’s “gigafactory” and the tens of thousands of jobs he said would help pull Nevada from the worst economic crisis in state history. Legislative leaders, who convened...
  • Tesla Needs $3B in Tax Breaks for New Battery Factory

    09/04/2014 11:15:35 AM PDT · by jazusamo · 50 replies
    Fox Business ^ | September 4, 2014 | Elizabeth McDonald
    Nevada looks to be the winner for Tesla Motors’ (TSLA) new $5 billion battery factory, but the win comes at a cost for state taxpayers. Tesla is seeking up to $3 billion in new tax breaks to help fund about half of its cost for the new battery factory, which Tesla has already disclosed in regulatory filings would be located outside Reno, Nev., about 235 miles from its auto assembly plant in the San Francisco Bay area. “The total capital expenditures associated with the gigafactory through 2020 are expected to be $4-5 billion (sic), of which approximately $2 billion is...
  • EU to launch corporate tax probe into Ireland and others

    06/11/2014 6:53:35 AM PDT · by Olog-hai · 4 replies
    EU Observer ^ | 06/11/2014 @ 09:28 | Benjamin Fox
    The European Commission is to launch a formal investigation into whether tax breaks used to attract international companies breach the EU’s state aid rules. The probe, which is likely to target Ireland, Luxembourg and the Netherlands, is set to be announced at a news conference on Wednesday (11 June) by EU competition chief Joaquin Almunia. Irish broadcaster RTE on Tuesday reported the launch of an investigation into the arrangements of US-based software giant Apple, but EU officials have also been gathering information on tax deals in Luxembourg and the Netherlands since last autumn. EU countries have promised to crack down...
  • End Crony Capitalism, Sell Federal Land, Limit Tax Breaks for the Rich

    05/23/2014 6:08:55 AM PDT · by Kaslin · 27 replies
    Townhall.com ^ | May 22, 2014 | Michael Barone
    Gummit don't work good. That conclusion, often that inelegantly expressed, seems to be more and more common, not only in the United States but around the world. It is certainly the verdict of John Micklethwait and Adrian Wooldridge in their new book "The Fourth Revolution: The Global Race to Reinvent the State," although expressed, as you might expect from the editor and business editor of the Economist, in far more urbane language. Their thesis is that the state has been reinvented three times in the last 400 years, and needs reinvention once more. The first revolution they name after Thomas...
  • Republicans block bill to renew expired tax breaks

    05/15/2014 11:40:52 PM PDT · by Olog-hai · 1 replies
    Associated Press ^ | May 15, 2014 5:41 PM EDT | Stephen Ohlemacher
    Senate Republicans blocked a bill Thursday that would renew more than 50 expired tax breaks affecting millions of businesses and individuals. The bill has widespread bipartisan support, but Republicans were unhappy because Senate Majority Leader Harry Reid, D-Nev., wouldn’t agree to vote on GOP amendments. A similar dispute derailed an energy bill earlier this week. […] Republican amendments included making some of the tax cuts permanent while adding others, including the repeal of a medical device tax that helps fund President Barack Obama’s health care law. …
  • Hollywood Losing Movies and Jobs Due to Tax Incentives

    03/22/2014 4:14:07 PM PDT · by rightwingerpatriot · 28 replies
    Rightwingpatriot.com ^ | March 22, 2014 | Rightwingerpatriot
    It appears that Hollywood is in a lot of trouble, not to mention California as a whole. California offers a paltry amount of tax incentives for filming within the state as opposed to most other states or even a number of countries. In fact, California's tax incentive program for the film and television industry currently stands at $100 million annually while New York's program is at $420 million. Some states don't even have a cap. What this means is that Hollywood is fleeing Tinsletown to film out of state, which is costing California billions of dollars and tens of thousands...