Free Republic 3rd Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $74,752
Woo hoo!! And now less than $14k to go!! Thank you all very much!! God bless.

Keyword: taxcode

Brevity: Headers | « Text »
  • Court’s smackdown of Obama is about more than just transgender policies

    08/23/2016 2:55:59 PM PDT · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 08/23/16 | Dan Calabrese
    It's about the abuse of the tax code to undermine federalism and the constitutional separation of powers You probably saw yesterday - and maybe you celebrated - the news that a federal judge has ordered a nationwide halt to the Obama policy of requiring states, cities and school districts to accommodate “transgender” bathroom usage or face the loss of federal funds. It’s certainly good news that the transgender nonsense has suffered a defeat. But if you think that’s all this is about, you’re missing a much larger point. Obama and the Democrats don’t even really care all that much about...
  • Donald Trump VP Announcement Speech 7/16/16 (Donald Trump on the "Johnson Amendment")

    07/19/2016 9:01:10 PM PDT · by gspurlock · 36 replies
    World News Daily account on Youtube ^ | Published on July 16, 2016
    If I had any lingering doubts about Donald Trump being the best possible candidate for President, he erased them with his announcement of Mike Pence as his preferred VP. It is not about Mike Pence, although he is a great selection. Go to 13:40 in his announcement speech. At that point in the speech, Mr. Trump explains the "Johnson Amendment". This was an amendment to the US Tax code in 1954 proposed by Senator Lyndon B. Johnson and eventually passed that prohibited Pastors, Ministers and Priests from addressing political issues in their sermons on the penalty of losing their tax...
  • Trump doubles-down on allies paying more for US protection, vows to repeal ObamaCare

    04/03/2016 6:10:02 PM PDT · by Innovative · 53 replies
    Fox News ^ | April 3, 2016 | Fox News
    Republican presidential candidate Donald Trump doubled-down Sunday night on his comments that the US should “do a better deal” with Japan, South Korea and other allies, saying they should pay more for America’s protection while taking a greater role in their defense — including building their own nuclear weapons "If you start raising that minimum wage, you're going to make a lot of our companies even more non-competitive," he said. Trump also delved into his plans to change the nation's tax code by "simplifying" it. He also renewed his promise to repeal ObamaCare — though he again wouldn’t offer specifics...
  • Huckabee offers Obamacare shooting targets

    01/07/2016 5:59:14 PM PST · by Tolerance Sucks Rocks · 6 replies
    The Washington Examiner ^ | January 6, 2016 | Paul Bedard
    Republican presidential candidate Mike Huckabee didn't just blast President Obama's new gun control initiative and move on, he's produced three shooting targets for opponents to aim their fire directly at the administration. "Americans should go out and buy a new gun – and to improve your accuracy, you can take aim at Washington stupidity, blow holes in ridiculous government programs and shred our unfair tax code with a customized shooting target," said the former Arkansas governor and shooter.
  • Significantly Simplifying The U.S. Tax Code, And Other Hopeful Myths

    12/02/2015 8:57:32 AM PST · by Sean_Anthony · 9 replies
    Canada Free Press ^ | 12/02/15 | Bob Christie
    Do you really believe there will be a significant simplification of the U.S. tax code under any not-so-freely elected government? Determining the length of a book is a simple matter . . . just open the back cover and look at the last page for the answer. Not so with the U.S. tax code, apparently. Google the question, “How many pages in the tax code?” Many answers appear. It could be as many as 75,000 pages, or just a few percentage points of that number, depending on who is answering the question and the motive for obtaining your acceptance of...
  • Ted Cruz says U.S. tax code has more words than the Bible

    11/11/2015 8:20:49 AM PST · by Isara · 29 replies
    Politifact ^ | Tuesday, November 10th, 2015 | Louis Jacobson
    Ted Cruz was one of the participants in the Republican presidential debate in Milwaukee on Nov. 10, 2015. During the Republican presidential debate in Milwaukee, Ted Cruz compared two volumes -- one beloved by many, the other loathed by almost everybody. "There are more words in the IRS code than there are in the Bible -- and -- and not a one of them is as good," Cruz said. Our New Jersey affiliate checked a similar claim on length in 2013, so we’ll apply their research to Cruz’s claim here. How long is the tax code? A 2010 report...
  • [Trump, Pay Attention]: Bush's Tax Plan Goes Long Way Toward Restoring 4% Growth

    09/10/2015 7:17:34 AM PDT · by Jim 0216 · 98 replies
    Investor's Business Daily ^ | 09/09/2015 | LAWRENCE KUDLOW AND STEPHEN MOORE
    Bush's plan starts by slashing tax rates. He'd return to the top personal income tax rate of 28% that America had when Ronald Reagan left office. That top rate, by the way, was a true bipartisan reform designed in part by congressional Democrats like Bill Bradley and Dick Gephardt. The rate has since migrated up to 42%, with many Democrats longing to tax the rich well above 50%. Middle-class tax rates would fall to 10% for families with incomes up to $89,000 and to 25% for incomes up to $163,800. For singles, the thresholds are lower. But the thresholds are...

    09/07/2015 12:45:22 PM PDT · by Hojczyk · 93 replies
    Breitbart ^ | September 7, 2015 | by PAM KEY
    167 Monday at an AFL-CIO Labor Day event in Pittsburgh, Vice President Joe Biden ranted about the economy as it pertains to the American labor force. Biden said, “We can’t let the changes that have taken place and crept in for the last twenty years— but they have been devastating for workers. I hope everybody in America has a chance to become millionaire and we need billionaires. But let me tell you something, man, The tax code’s not fair. It’s simply not fair. The wealthy aren’t paying their fair share. It used to be one America everybody was in on...

    08/22/2015 4:25:30 PM PDT · by Hojczyk · 67 replies
    Breitbart ^ | August 22, 2015 | IAN HANCHETT
    16 Republican presidential candidate Donald Trump declared, “I think flat tax is okay” on Friday’s broadcast of the “Matt Murphy Show” on Birmingham, AL’s WAPI. Trump said, “Who knows taxes better than me?” He continued, “You know, when they talk about fixing the tax, it’s so complicated, that people have to go and use H&R Block to do a $50,000 — a man who makes $50,000 has to spend money –.” Host Matt Murphy then cut in to ask Trump if he supports the fair tax. Trump answered, “Well, I think fair tax is okay. And I think flat tax...
  • Video: Rand Paul burns, woodchips, and chainsaws the U.S. tax code

    07/21/2015 3:25:47 PM PDT · by Kaslin · 24 replies
    Hot ^ | July 21, 2015 | ALLAHPUNDIT
    This clip would feel so different if Rand was sitting at 15-20 percent in the polls right now, smack dab in the middle of the top tier, with a huge Super PAC haul under his belt. Imagine it. With the media in early panic mode about Republicans nominating a crazed libertarian who’d take a wrecking ball to government as president, here Rand would be, goofing on the hysteria behind that image while also winking at his supporters that he might in fact be the wrecking ball the left fears. The vid would, essentially, be a form of “kidding on the...
  • 5 Mistakes That Will Lead To The Fall of America

    06/27/2015 6:15:27 AM PDT · by Kaslin · 50 replies ^ | June 27, 2015 | John Hawkins
    Thousands of years after the Roman Empire fell, people are still speculating about how such a powerful empire became too feeble to defend itself. Did it become corrupt? Was its taxes too high? Was it widespread lead poisoning? The refusal to break up tribes it assimilated? Was it the loss of traditional values? Did it over-expand? There are all sorts of theories, but nobody really knows. However, if American falls, historians won’t have to speculate because the problems that are destroying our country are right there for anyone to see. You want to know how to break the greatest nation...
  • Presidential candidate Rand Paul plans to ‘blow up’ tax code

    06/18/2015 7:16:27 PM PDT · by Olog-hai · 30 replies
    Associated Press ^ | Jun 18, 2015 9:16 PM EDT | Steve Peoples
    Republican presidential candidate Rand Paul called Thursday for a “fair and flat tax” that would “blow up” the nation’s tax code, offering a proposal his campaign said would cut taxes by $2 trillion over the next decade. The first-term senator from Kentucky released the outline of a plan to institute a 14.5 percent income tax rate on all individuals, as well as a tax of the same rate on all business revenue. It was among the first major policy proposals released by Paul’s presidential campaign, although he did not make the full plan available for review. […] In a column...
  • Hillary Clinton pledges to rewrite tax code if elected U.S. President

    06/13/2015 11:15:45 AM PDT · by NormsRevenge · 47 replies
    Reuters on Yahoo ^ | 6/13/15 | Lisa Lambert and Alistair Bell
    (Reuters) - Appealing to working families in her first major campaign speech, U.S. Democratic presidential candidate Hillary Clinton said on Saturday she would rewrite the U.S. tax code if she is elected so that it rewards hard work, and not quick equities trades or money stashed away overseas. She also pledged to establish a national infrastructure bank financed by bonds, an idea championed by President Barack Obama, a fellow Democrat.
  • Why Breaking Up (the Tax Code) Is So Hard to Do

    01/07/2015 7:18:59 AM PST · by SeekAndFind · 45 replies
    e21 ^ | 01/07/2015 | Caroline Baum
    Everyone wants tax reform. At least we pay lip service to the idea that the U.S. economy would be better off with lower rates, a simpler code, and fewer loopholes. Yet something everyone claims to support has proved elusive time and again. Why? For starters, it's not clear that everyone's idea of tax reform is the same. Corporations want lower statutory rates; they are less enthusiastic when it comes to sacrificing their bought-and-paid-for tax breaks. Liberals want an even more progressive tax code, with higher rates on the wealthy. Conservatives want to reduce anything that looks, smells, or acts like...
  • Embarrassment Alert: America’s Tax System Ranks Below Italy, Greece, and Mexico

    09/16/2014 11:27:00 AM PDT · by Kaslin · 6 replies ^ | September 16, 2014 | Daniel J. Mitchell
    ’ve complained over and over again that America’s tax code is a nightmare that undermines competitiveness and retards growth.Our aggregate fiscal burden may not be as high as it is for many of our foreign competitors, but high tax rates and poor design mean the system is very punitive on a per-dollar-raised basis.For more information, the Tax Foundation has put together an excellent report measuring international tax competitiveness.Here’s the methodology. The Tax Foundation’s International Tax Competitiveness Index (ITCI) measures the degree to which the 34 OECD countries’ tax systems promote competitiveness through low tax burdens on business investment and neutrality through...
  • The IRS: A Public Monument to Sandra Fluke's Privates

    07/26/2014 4:54:09 AM PDT · by Kaslin · 15 replies ^ | July 26, 2014 | John Ransom
    At 74,000 pages, the IRS code is a mind-boggling ode to lobbying, pork-barrel spending and graft. These are the only good things that I can say about the IRS. Ode may be too friendly a word, however. Let’s instead call it an incantation for our country. Because the code holds a country in thrall like the winged monkeys in Dorothy’s Oz were held. And until the witch is dead, we monkeys must do her bidding. Politicians, economists and ordinary citizens can’t follow the tax code, which has tripped up cabinet nominees, majority leaders and others who ought to know...
  • Rumsfeld: 'I know I don't know' if my tax return was done accurately

    04/15/2014 5:09:17 PM PDT · by SeekAndFind · 32 replies
    The Hill ^ | 04/15/2014 | Blake Neff
    Former Secretary of Defense Donald Rumsfeld filed his taxes on Tuesday with an added twist: a letter telling the IRS that he had no idea whether his return was, in fact, accurate. “Despite the fact that I am a college graduate and I try hard to make sure our tax returns are accurate...I know that I do not know whether or not my tax returns are accurate, which is a sad commentary on governance in our nation's capital," Rumsfeld's letter reads.The letter’s phrasing appears to allude to Rumsfeld’s famous “unknown unknowns” statement in 2002, when he said, in reference to...
  • A Truly Absurd Tax Code Illustrates the Need for Rational Reform

    04/16/2014 6:52:44 AM PDT · by SeekAndFind · 7 replies
    RCM ^ | 04/16/2014 | Alex Brill
    Tax season is over for all but the greatest procrastinators among us. Two-thirds of taxpayers are celebrating their forthcoming refunds while tens of millions of others have grudgingly written a check to the IRS. Either way, this is the time of year when Americans are most acutely aware of the federal income tax system and all its flaws. Our tax code is extraordinarily difficult to navigate and it sometimes seems that it's more concerned with advancing social and industrial policy goals than raising the money needed to fund government. The plethora of preferential deductions and credits that narrow the tax...
  • Just 39% Think Federal Income Tax System Is Fair

    04/15/2014 7:28:17 AM PDT · by IBD editorial writer · 48 replies
    Investor's Business Daily ^ | 04/14/2014 | John Merline
    As millions of Americans rush to file their federal income tax returns on Tuesday, few will be thinking that the current tax code is the fairest one of all, according to the latest IBD/TIPP survey. Just 39% of Americans say today's income tax code — which features multiple tax brackets along with myriad deductions and exemptions — is the fairest. As to what sort of tax system would be more fair, the public hasn't made up its mind. Thirty-six percent say a flat tax is the fairest way to collect income taxes, while 19% would prefer a national sales tax....
  • G.O.P. Tax Plan Seeks Lower Rates and Fewer Brackets, Aides Say

    02/25/2014 2:51:02 PM PST · by Theoria · 23 replies
    The New York Times ^ | 25 Feb 2014 | ASHLEY PARKER
    The Republican plan to overhaul and simplify the nation’s tax code is expected to call for a cut in the top corporate income rate to 25 percent from 35 percent, and a reduction of the seven individual tax brackets to two — at 10 percent and 25 percent — according to aides familiar with the proposal. The proposal, which is set to be released Wednesday after nearly three years of behind-the-scenes work, is the brainchild of Representative Dave Camp of Michigan, the chairman of the Ways and Means Committee, and it reflects the long-held tax overhaul goals of the Republican-passed...
  • New U.S. 2014 Tax Regime is "Devastating," Experts Say

    12/30/2013 11:22:19 PM PST · by VitacoreVision · 18 replies
    The New American ^ | 30 December 2013 | Alex Newman
    A new IRS tax regime in 2014 will be devastating for the U.S. economy, and for millions of Americans working abroad, especially those in the middle class. New U.S. Tax Regime is "Devastating," Experts Say The New American 30 December 2013 Already facing “pariah” status worldwide due to onerous IRS requirements, millions of Americans living and working abroad are preparing to deal with a deluge of even bigger problems in 2014, when a byzantine new tax regime starts going into effect. Known as the Foreign Account Tax Compliance Act, or FATCA, the deeply controversial and incredibly complex scheme is...
  • For more jobs, fix the corporate tax code

    07/03/2013 7:34:27 AM PDT · by SeekAndFind · 3 replies
    Los Angeles Times ^ | 07/03/2013 | Yuri Vanetik
    The May jobs report shows that the American economy added 175,000 positions. Positive employment growth is welcome news, of course. But May's gains weren't big enough to make a dent in the national joblessness rate, which actually ticked up to 7.6%. Meanwhile, revenue at most U.S. companies continues to grow as firms expand operations and accumulate capital. Yet this progress hasn't precipitated a proportional expansion in hiring. This lag has long been a source of frustration on Capitol Hill. Perhaps yet another month of anemic job growth will actually jolt policymakers into action. The best way for Congress and the...
  • Reform The Tax Code

    06/06/2013 6:37:16 AM PDT · by Kaslin · 12 replies ^ | June 6, 2013 | Michael Reagan
    Jay Leno told his studio audience the other night that President Obama should forget his plans to close the detention camp at Guantanamo Bay and instead close the IRS. The applause was instantaneous and the laughs were loud and genuine. Most ordinary Americans would have whooped and hollered in favor of Leno's idea long before they learned the IRS has been caught targeting conservative political groups and wasting millions on moronic employee-training conferences. But the IRS is no joking matter. The average working American -- poor or rich or in-between -- hates and fears the IRS for good reason. Able...
  • The GOP and the IRS (Republicans are complicit in voting for more complexities in the tax code)

    06/05/2013 8:00:12 AM PDT · by SeekAndFind · 3 replies
    American Thinker ^ | 06/05/2013 | Steve McCann
    As usual, the Congress is all over a scandal after the fact. The hearings on the IRS fiasco are good theatre and admittedly necessary; but where were the Republicans, not only over the past three years that the IRS was targeting conservative groups, but over the past three decades as the more and more power was granted to this same agency -- an agency with the potential to be transformed into a de facto secret police. The Republicans were, by consistently agreeing to more complexities in the tax code and the need for stringent tax enforcement due to ever expanding...
  • James Pethokoukis: Fix, Don’t Flatten, the Tax Code

    05/28/2013 8:09:44 AM PDT · by SeekAndFind · 32 replies
    National Review ^ | 05/28/2013 | James Pethokoukis
    If the sluggish U.S. economy wasn’t reason enough for tax reform, the ongoing IRS scandal demonstrates how a devilishly complex tax code enables government mischief. But the flat tax — a longtime policy goal for many on the right — isn’t the realistic answer to either problem. Flat-tax advocates see headlines about an out-of-control IRS as a chance to put the idea back on the public-policy radar in way it hasn’t been since the 1990s. “This is why you need a flat tax,” Wall Street Journal economics writer Stephen Moore told Fox News recently. “If you get rid of two-thirds...
  • McCain Finds Rand Paul's Defense of Apple 'Offensive'

    05/22/2013 1:38:51 AM PDT · by BarnacleCenturion · 106 replies ^ | 21 May 2013 | MIKE FLYNN
    On Tuesday, KY Sen. Rand Paul launched a spirited defense of Apple, whose tax strategies were subject to a hearing of the Senate Permanent Subcommittee on Investigations. "I frankly think the committee should apologize to Apple," Paul said. Paul went on to accuse the committee of "bullying" one of America's greatest companies, prompting Sen. John McCain to quickly defend the inquiry and say that Paul's remarks were "frankly, offensive."
  • How the IRS Wrecked Your Pension: Don't blame the fund managers, blame the tax code.

    05/10/2013 8:37:00 AM PDT · by SeekAndFind · 2 replies
    Daily Beast ^ | 05/10/2013 | Megan McArdle
    This week, I had a piece in the magazine arguing that retirement is trouble. That's a golden oldie for those of you who've been reading a while; my favorite evergreen topic is haranguing my readers to save 15-20% of their income, or fer goshsakes at least 10%, towards retirement. (I mean it guys. You need to save more.) But this piece had an interesting peg: Republic Services, Inc. is in the middle of an epic battle with the Teamsters International over the pension plans that cover their workers. Up until recently, Republic teamsters have been covered by the rather notorious...
  • Fun with the U.S. Tax Code (74,000 Pages of Unintentional Comedy, and the Joke is on Us)

    04/12/2013 6:43:11 AM PDT · by SeekAndFind · 8 replies
    National Review ^ | 04/12/2013 | Deroy Murdock
    As the Monday, April 15, tax-filing deadline mercilessly approaches, millions of Americans will cry as they calculate what they owe Washington and then fork it over. But, amid those tears, there will be plenty of laughs. The U.S. Tax Code is so tangled and twisted that University of Florida law professor Steven J. Willis speaks amusingly about “tax humor.” While not exactly the stuff of stand-up routines, America’s surreal tax code is a masterpiece of dark comedy.When UF started its Graduate Tax Program in the College of Law, Willis recalls, “one requirement of the graduate school was knowledge of...
  • The Tax Code Is A Hopeless Complex, Economy-Suffocating Mess

    04/05/2013 7:20:50 AM PDT · by SeekAndFind · 13 replies
    Forbes ^ | 04/04/2013 | Bill Frenzel
    Throughout our population, experts and non-experts alike, the verdict is nearly unanimous. The U.S. tax code is a hopelessly complex mess, antithetical to growth, and is crammed with conflicting incentives, which screams for reform. But there is little agreement on how to repair it. My preferences are necessary, just, and ordained in heaven. Your preferences are unnecessary, unjust and counter-productive. Tax reform is the most difficult and complicated piece in the U.S. budget battle. It is integral to both the Republican House and the Democratic Senate budgets. As in every budget item, there is a conservative vs. liberal confrontation, but...
  • Rand Paul: Let’s get marriage out of the tax code

    03/14/2013 7:41:29 AM PDT · by SeekAndFind · 177 replies
    Hotair ^ | 03/14/2013 | AllahPundit
    This isn't news because it's novel for a Paul to be saying such things --- his dad once called for getting the government out of marriage on a GOP presidential primary debate stage --- but because of Rand Paul's growing prominence in the GOP. If he could rally a hawkish party to oppose the president's power to use drones against terrorists in certain circumstances, can he rally a socially conservative party to find an accommodation on gay marriage? Paul says foreign policy is an instrumental way to expand the GOP, but itÂ’s not the only way. Social issues are another...
  • Will Obama Reluctantly Buy Into Base-Broadening Tax Reforms That Also Lower the Rates?

    03/08/2013 2:42:16 PM PST · by Kaslin · 10 replies ^ | March 8, 2013 | Donald Lambro
    WASHINGTON - President Obama has been pleading with House Republican leaders lately to raise government revenues by overhauling the tax code to erase loopholes and other income exemptions. It wasn't an idea he campaigned on last year, though the chairmen of his deficit reduction commission proposed doing just that in a report he shelved. But they also wanted to use the higher revenues to offset lowering the tax rates in order to boost economic growth, jobs and investment, which in turn would boost tax revenues and reduce the deficits. But cutting tax rates doesn't play well with Democratic voters or...
  • Total Tax-Code Termination? (Reality Check: no sweeping reform will please both sides)

    01/28/2013 8:33:34 AM PST · by SeekAndFind · 6 replies
    National Review ^ | 01/23/2013 | James Pethokoukis
    It would be the ultimate fiscal cliff. A group of House Republicans wants to put an expiration date on the 75,000-page U.S. tax code. The Tax Code Termination Act would require the repeal of the entire code in 2017 — except for the bits dealing with Social Security and Medicare — with a new system ready to go for the following year. Of course, the U.S. economy would benefit from major tax reform that eliminated the current bias against investment, axed crony-capitalist tax breaks, and lowered marginal rates on individuals and business as much as possible. But Republicans can put...
  • The Consequences of Our Tax Code

    01/24/2013 4:22:42 PM PST · by Responsibility2nd · 12 replies
    My E-Mail Inbox | Tuesday, January 22, 2013 | My CPA
    Every year, I sit down with families who made a particular financial move, and as a result, some unforeseen -- and unintended consequence -- kicked in. This could be an unexpected tax event, it may have been a broken relationship, or a business failure. (All of which and more, by the way, is why you should be sure to ask us about tax PLANNING this year, rather than tax "reporting" -- which is what the tax return preparation process really is.) But sometimes these consequences are because of the tax code itself. Take marriage, for example. The foundations of most...
  • One Look At This Chart, And You'll Instantly Get Why We Can't Fix The Tax Code

    11/22/2012 10:52:52 AM PST · by SeekAndFind · 61 replies
    Business Insider ^ | 11/22/2012 | Joe Wiesenthal
    Hey, let's just simplify the tax code and eliminate loopholes.It's hard to think of any statement that on its surface sounds less controversial. Eliminating loopholes means more revenue. Everyone likes simplification. Efficiency!So why doesn't it happen?This fantastic chart from Credit Suisse's Neal Soss is the answer. It shows the top 20 biggest "Tax Expenditures" which cost the government over $900 billion in the 2012 fiscal year. Credit SuisseSo you want to simplify the tax code, what are you going to get rid of?Are you going to eliminate the incentive to provide employers health insurance? Are you going to get rid...
  • What Price ‘Fairness’? (Will an even more progressive tax code solve our debt problems?)

    11/20/2012 7:03:36 AM PST · by SeekAndFind · 2 replies
    National Review ^ | 11/20/2012 | Mona Charen
    Realistic Republicans understand that President Obama and the Democrats head into fiscal-cliff negotiations in a far stronger bargaining position now than in 2011. When voters were asked on November 6 whether they favored raising taxes to reduce the deficit, a total of 60 percent said yes (47 percent favored increasing taxes for those who earn $250,000 or more, and 13 percent approved tax increases for all). So taxes will be going up. As a matter of political strategy — not to say survival — Republicans will have to agree to raise taxes on those defined as rich. It’s more than...
  • The Politics of ‘free stuff’ and the 45% who pay no federal income taxes

    07/18/2012 10:47:51 AM PDT · by sickoflibs · 15 replies
    my rant | 7/18/12 | sickoflibs
    Obama and his fellow Democrats grow louder and more frequent for the top 5% (really the top 20%) who pay most of the federal taxes to ‘pay their fair share’ meaning even more taxes. But what about the 45 percent or so of our fellow citizens and legal residents who pay zero federal income taxes which that money is dedicated to pay for everything it does and that it gives away except retirement entitlements? With the government running the enormous deficits it is and candidates especially Dems promising more and more ‘free stuff’ to voters as Romney put it, this...
  • Chamber of Commerce: “America’s Byzantine tax code” (watch video)

    06/13/2012 4:59:57 PM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 06/13/2012 | Erika Johnsen
    Beautiful. Emphasis mine:CLICK ABOVE LINK FOR THE VIDEO A competitive business environment is just as essential to innovation as well-functioning markets. In the enterprise states study, we have fresh evidence of how states are fostering economic growth and jobs through their innovation. What do successful states have in common? A tax and regulatory climate that allows companies to continuously innovate, unshackled by needless delays and burdensome costs. And states that maintain a good legal reform environment can also expect hundreds of millions of dollars or more in economic activity & tens of thousands of new jobs according to our study....
  • Illegal immigrant tax cheats? Time to simplify tax code

    05/14/2012 5:33:28 AM PDT · by cap10mike · 20 replies ^ | May 14, 2012 | Michael Dorstewitz
    Barely a day goes by that President Barack Obama doesn’t harangue us with complaints that we’re not all paying our “fair share.” Considering the fact that 47 percent of American households pay no federal income tax whatsoever, and that the top 5 percent of wage earners pay almost 59 percent of the total tax revenue, I agree with the president: There are those who are taking advantage of the Internal Revenue Code’s complexity. But it’s not the people the president has in mind each time he delivers his class warfare address. Indianapolis NBC affiliate WTHR recently uncovered a growing segment...
  • Tax Code Is Already Steeply Progressive

    04/11/2012 10:59:06 AM PDT · by 92nina · 10 replies
    ATR ^ | 2012-04-10 | Ryan Ellis
    What percent of all tax revenues do high-income households pay?   Income Tax All Federal Taxes Top 1% ($344,000 +) 39.5% 28.1% Top 5% ($155,000 +) 61% 44.3% Top 10% ($112,000 +) 72.7% 55% Lower Half ($32,000 -) 2.4% 2.6% Middle Quintile ($65,000) 4.6% 9.2% All Households 100% 100% What is the average tax rate paid by high-income households?   Income Tax All Federal Taxes Top 1% ($344,000 +) 19% 29.5% Top 5% ($155,000 +) 17.6% 27.9% Top 10% ($112,000 +) 16.2% 26.7% Lower Half ($32,000 -) 1.9% 9.6% Middle Quintile ($65,000) 3.3% 14.3% All Households 9.3% 20.4% IRS Statistics...
  • Repeal That Infernal Tax Code

    04/17/2012 5:28:08 AM PDT · by Kaslin · 73 replies ^ | April 17, 2012 | Paul Greenberg
    "April is the cruelest month. . . ."--T. S. Eliot, The Waste LandRonald Reagan said it back in 1983: "Our federal tax system is, in short, utterly impossible, utterly unjust and completely counterproductive . . . (it) reeks with injustice and is fundamentally un-American . . . it has earned a rebellion, and it's time we rebelled." But what politician today would speak so eloquently, and all too accurately, about the country's irrational, insufferable, infernal Internal Revenue Code? (Except maybe for purely ceremonial purposes during an election year.) Those in Congress who have made distinguished careers sneaking tricky little passages...
  • Glen Beck Called the Tax Code Something This Past Week and It was Perfect, Do you Remember the Word?

    04/15/2012 2:53:58 PM PDT · by Chickensoup · 40 replies
    04.15.12 | Chickensoup
    Glen Beck Called the Tax Code Something This Past Week and It was Perfect, Do you Remember the Word? Were you listening? He said this was the term that his accountants use to describe the tax code. The word was not: Evil or dispicable. It was a word that meant entrapment or get you. Please help out if you listened!
  • If you think the federal tax code and the IRS are out of control, you’re right!

    04/14/2012 11:52:32 AM PDT · by jmaroneps37 · 3 replies ^ | April 14, 2012 | Kevin "Coach" Collins
    It’s tax time again and once again we will be forced to knuckle under to our government’s demands. If you suspect there is plenty wrong with the current system, here are some facts to support your suspicions. The U.S. tax code is now 3.8 million words long. All of Shakespeare’s works are 900,000 words long. According to the National Taxpayers Union, U.S. taxpayers spend more than 7.6 billion hours complying with federal tax requirements. In 19 37 two pages of instructions came with a Form 1040; today 189 pages are necessary. There have been 4428 changes to the tax code...
  • America Is Europe

    04/08/2012 10:58:25 PM PDT · by neverdem · 14 replies
    NY Times ^ | February 23, 2012 | DAVID BROOKS
    (Excerpt) The U.S. does not have a significantly smaller welfare state than the European nations. We’re just better at hiding it. The Europeans provide welfare provisions through direct government payments. We do it through the back door via tax breaks. For example, in Europe, governments offer health care directly. In the U.S., we give employers a gigantic tax exemption to do the same thing. European governments offer public childcare. In the U.S., we have child tax credits. In Europe, governments subsidize favored industries. We do the same thing by providing special tax deductions and exemptions for everybody from ethanol producers...
  • An Uncivil Income Tax System

    04/05/2012 5:44:47 AM PDT · by Kaslin · 16 replies ^ | April 5, 2012 | Jeff Jacoby
    Each year in the United States, an estimated 6.1 billion hours are spent complying with the federal tax code. I'm pretty sure at least half of those hours are spent by me. With less than two weeks remaining before this year's tax returns are due, I've barely made a dent in my stack of forms, receipts, and instructions. Each year the prospect of doing my taxes looms more daunting and dismal than the year before. Each year I wonder where I'll find the time, never mind the patience, to get it done. Each year's tax ordeal seems to require more...
  • Warren Buffett: Criticism is 'ridiculous' (His point is -- tax code treats his secretary unfairly)

    01/27/2012 11:24:04 AM PST · by SeekAndFind · 23 replies
    Omaha World Herald ^ | 01/27/2012 | Steve Jordon
    Warren Buffett's secretary, after being pointed out on national television during Tuesday's State of the Union speech, now is facing criticism over her salary and second home. Debbie Bosanek and her boss both declined Thursday to disclose how much she's paid, saying it's private. In an interview with The World-Herald, Buffett also said none of the online guesses about Bosanek's salary is right, and the critics are missing his point. "I'm saying she is being treated unfairly in the tax code, as are tens of millions of others, compared to me," Buffett said. "They shouldn't change the rates on all...
  • Time to junk income taxes? (The 5 Principles that should guide us for a new tax code)

    01/07/2012 2:01:47 PM PST · by SeekAndFind · 9 replies
    Reuters ^ | 01/07/2012 | David Cay Johnston
    This is America’s 100th year for individual income tax, a system as out of touch with our era as digital music is with the hand-cranked Victrola music players of 1912. It is also the 26th year of the Reagan-era reform for both personal and corporate tax, a grand design now buried under special-interest favors. With U.S. elections in November, and the George W. Bush tax cuts due to expire at the end of 2012, it’s time for a debate that goes beyond ginning up anger over taxes and the superficial issue of tax rates. It’s time to consider whether to...
  • End of year brings significant tax implications for farmers

    12/29/2011 3:46:34 PM PST · by george76 · 7 replies
    Ohio State University ^ | Dec 28, 2011 | Andy Vance
    As 2011 draws to a close, so do opportunities for farmers to take advantage of certain provisions of the federal tax code.... "The ability for bonus depreciation is changing, so if you're looking to make capital expenditures, this is the year to do it," ... "You can depreciate 100 percent now, it will go to 50 percent next year, and after that it could go away completely depending on what Congress does." ... The other significant impending change to the federal tax code involves Section 179, which according to Marrison, works somewhat similarly to the bonus depreciation allowance.
  • Breaking the Back of the GOP Base

    11/19/2011 3:30:19 AM PST · by Kaslin · 73 replies · 1+ views ^ | November 18, 2011 | Hugh Hewitt
    There are three "keystone deductions" in the IRS code that matter more than all others to Americans who itemize deductions. They are keystone deductions because they help the middle and upper middle class and they promote extraordinarily important social policies which have long been at the center of the traditional values held by most Americans. The first is the deduction for contributions to qualified charities, such as hospitals, high schools and colleges, charities serving everyone from children to the homless to the old and infirm, and of course churches of every denomination. The second keystone deduction allows homeowners with mortgages...
  • The Subtle Genius of Herman Cain's 9-9-9

    10/14/2011 7:43:04 AM PDT · by taildragger · 61 replies
    10/14/2011 | taildragger
    I ran the following concept by a friend who's wife is a CPA and by extension lives the tax code :-), and was no slouch himself at college level accounting. He agrees with my following assessment, and Fellow Freeper's I'd like to get your thoughts as well...I think what Herman has done is brilliant, here is what I think it is....Herman splits the baby in half. 999 is both a Flat Tax and a Fair Tax via the sales tax component. Both Fair and Flat Taxers will never agree, but they both get enough of their plan to still put...
  • Herman Cain's 9-9-9 plan sounds good; but will it work?

    09/30/2011 8:50:12 AM PDT · by SeekAndFind · 58 replies
    Washington Examiner ^ | 09/30/2011 | Byron York
    Herman Cain's supporters know their part by heart. On the campaign trail, at the point in Cain's stump speech when he begins to discuss his plan for economic growth, they're always ready to join the chorus: "Nine! Nine! Nine!" They're referring, of course, to the Republican presidential candidate's proposal to throw out today's tax structure and replace it with a 9 percent income tax, a 9 percent business tax, and a 9 percent national sales tax. Cain would eliminate capital gains taxes, the payroll tax and the estate tax. For Cain, a Georgia businessman, 9-9-9 is a perfect platform. It's...