Keyword: taxcuts

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  • Donald Trump reveals more details of his tax plan

    09/15/2016 12:45:33 PM PDT · by E. Pluribus Unum · 3 replies
    The Washington Compost ^ | 2016-09-15 | Jim Tankersley
    Republican presidential candidate Donald Trump put new details on a much scaled-back tax plan on Thursday, one that is projected to cost the federal government less money but also to deliver fewer benefits to taxpayers than Trump's original proposal. Trump's economic team estimated that the complete tax plan, combined with rollbacks to some federal regulations and new initiatives to open up more public and private lands for oil and gas drilling, would deliver 3.5 percent growth per year for the next decade and produce 25 million new jobs. The changes also appear to be an attempt to reduce what analysts...
  • Here's everything Donald Trump just promised in his major speech on the economy

    09/15/2016 12:00:26 PM PDT · by E. Pluribus Unum · 22 replies
    Business Insider ^ | 2016-09-15 | Allan Smith
    Donald Trump on Thursday shared his economic vision with supporters gathered at the Waldorf Astoria hotel in Manhattan, promising trillions in tax cuts, energy reform, a crackdown on trade, and a reduction in the number of tax brackets. Trump, the Republican presidential nominee, estimated his plan would create 25 million in new jobs, and that the massive tax cut would be offset by gross domestic product growth of at least 3.5%, on average, each year for the next decade. "This is the most pro-growth, pro-jobs, pro-family plan put forth perhaps in the history of our country," Trump said, according to...
  • France to make wave of tax cuts (just in time for elections)

    09/09/2016 5:59:18 AM PDT · by Olog-hai · 6 replies
    TheLocal.fr ^ | 09 Sep 2016 10:37 GMT+02:00
    With next year’s presidential elections looming large, the French government will make a raft of tax cuts for households and businesses. France’s government unveiled Friday plans to lower taxes on households and companies, as the ruling Socialists lined up their budget for the 2017 election year. The gesture to households would “take the form of a reduction in income taxes by 20 percent for the middle class,” Finance Minister Michel Sapin told AFP. Around 5 million households would benefit from the €1 billion ($1.1 billion) reduction in income taxes, worth about €200 per family. …
  • Tim Cook addresses Apple's US taxes, says no repatriation without 'fair rate'

    08/15/2016 1:26:58 AM PDT · by Olog-hai · 38 replies
    CNBC ^ | 08/14/2016 | Javier E. David
    Apple CEO Tim Cook struck back at critics of the iPhone maker’s strategy to avoid paying U.S. taxes, telling The Washington Post in a wide ranging interview that the company would not bring that money back from abroad unless there was a “fair rate.” Along with other multinational companies, the tech giant has been subject to criticism over a tax strategy that allows them to shelter profits made abroad from the U.S. corporate tax rate, which at 35 percent is among the highest in the developed world. The move complies with the letter of the law, if not the spirit,...
  • Priceless: Schumer says waive tax on Olympians because ‘hard work’ shouldn’t be punished

    08/08/2016 12:27:13 PM PDT · by Cheerio · 38 replies
    Hot Air ^ | August 8, 2016 | Larry O'Connor
    Without the teeniest sense of irony, Sen. Chuck Schumer (D-NY) has proposed that America’s Olympic medal winners should not have to pay taxes on the cash prizes they are awarded with their medals. Schumer’s reasoning behind lifting the tax? Because “hard work” and excellence shouldn’t be punished. Seriously: Video at link In a press release from his office Schumer said: “Our Olympian and Paralympic athletes should be worried about breaking world records, not breaking the bank, when they earn a medal,” said ‎Schumer. “Most countries subsidize their athletes; the very least we can do is make sure our athletes don’t...
  • Trump's Economy: Lower Taxes, No TPP, and … Affordable Childcare?

    08/08/2016 12:27:37 PM PDT · by ToxicMich · 35 replies
    The Atlantic ^ | GILLIAN B. WHITE
    On Monday, Donald Trump took to the stage of the Detroit Economic Club to release his latest plan for jumpstarting the economy, a task that he said “won’t even be that hard.” Among his major proposals is to streamline income tax brackets—of which there are currently seven—to three tiers, in which no American would pay more than 33 percent to the federal government. He promised to cap the corporate tax rate at 15 percent and to put an end to estate taxes. He also suggested halting any new federal regulation on finance, doing away with TPP, and bringing back the...
  • Donald Trump Is Proposing The Biggest Tax Cuts Since Ronald Reagan's Presidency

    08/06/2016 1:39:45 PM PDT · by Innovative · 100 replies
    Fortune Mag. ^ | Aug. 6, 2016 | Madeline Farber
    In a new economic blueprint that is set to unveil next week, Donald Trump will propose one of the biggest tax cuts since Ronald Reagan’s presidency, an advisor to the Republican Presidential nominee told Bloomberg. The proposal will reiterate Trump’s plan to cut the corporate tax rate to 15%, Stephen Moore, who is the chief economist for the Heritage Foundation, and of one of the men on Trump’s 13-member economic advisory team that the Republican presidential candidate announced Friday, said.
  • What We Can Learn From Ireland's Remarkable Economic Growth

    08/01/2016 5:27:27 AM PDT · by IBD editorial writer · 16 replies
    Investor's Business Daily ^ | 8/1/2016 | Brad Anderson
    Economists and financial commentators scoffed this month when Ireland officials announced that the country's gross domestic product had increased by 26% in 2015. They rightly pointed out that the arrival of numerous new multinational companies, which conduct the vast majority of their business abroad, had juiced this number. What was largely overlooked, however, was that Ireland's gross national product, the income produced in the country itself, had also grown by 19%. Growth in personal consumption, exports and imports also grew at impressive rates. Meanwhile the rest of Europe is experiencing virtually zero growth. And the U.S.'s average growth of 2%...
  • Boston Globe Accidentally Reports That Raising the Minimum Wage Kills Jobs

    07/06/2016 5:19:36 PM PDT · by Kaslin · 15 replies
    PJ Media ^ | July 6, 2016 | Tom Knighton
    Many Americans are campaigning for a raise in the minimum wage. Even more Americans are struggling just to find jobs at any wage.Yup -- those two news items are related.While trying to present a case for the Massachusetts state legislature to approve a program that provides summer jobs to teens at non-profits and government agencies, an editorial at the Boston Globe accidentally explained why artificially imposed minimum wages kill job opportunities.I don’t think the Globe even realized it, either: The program provides money for YouthWorks, which pays the wages of 4,400 low-income teens in eligible cities who work for nonprofits...
  • [German finance minister] Schäuble warns of 'race to bottom' after UK tax cut plans

    07/06/2016 4:11:00 PM PDT · by Olog-hai · 21 replies
    TheLocal.de ^ | 06 Jul 2016 17:02 GMT+02:00 | (AFP)
    Finance Minister Wolfgang Schäuble said Wednesday he opposes a race of competitive tax cuts in Europe after Britain indicated it may slash corporate tax. “We have no intention to start some sort of ‘race to the bottom’,” said Schäuble about plans by Britain’s finance minister George Osborne to slash corporation tax to avoid a business exodus after the June 23 Brexit vote. […] “We’re not opposed to fiscal competition,” he said, but it has to be “fair”, he added. …
  • Donald Trump Rolls Out Winning Platform: Cut Taxes, Save Social Security and Medicare

    06/19/2016 9:30:19 PM PDT · by detective · 84 replies
    Breitbart ^ | 19 Jun 2016 | Patrick Howley
    Republican candidate Donald Trump focused this weekend on his economic platform: Cut taxes and regulations across the board while also saving Social Security, Medicare, and other government safety-net programs. Trump’s platform is nearly invincible in the general election if he stresses it enough, polling shows. Trump’s plan will also have a transformational effect on how people view his party. But he still needs to make the accounting work to ensure that his Third Way platform is feasible.
  • A Florida man will be the first in the US to get paid $1,250 per month for doing absolutely nothing

    06/06/2016 12:14:45 PM PDT · by PROCON · 75 replies
    busunessinsider.com ^ | June 6, 2016 | Chris Weller
    For the next 12 months, a man from Sarasota, Florida will receive $1,250 a month for doing absolutely nothing, and the people footing the bill couldn't be happier about it. The recipient, a man named Edwin who declined to speak to the press, won the $15,000 in a raffle held in San Francisco on May 31. The giveaway was organized by the nonprofit advocacy group My Basic Income, which wants to set up a slew of lotteries to see how basic income might work around the world.
  • A Universal Basic Income Approach

    09/16/2015 8:24:46 AM PDT · by 2ndDivisionVet · 40 replies
    Demos' Policy Shop ^ | September 15, 2015 | Matt Bruenig
    It's been a while since I've written about the idea of a universal basic income. So I figure an update is in order. The typical UBI proposal you see picks a certain dollar amount and then declares that it should go equally to all adults. I disagree with this in two ways. First, I think that children should also receive a basic income (paid to their parents). Second, I think that UBI payments should vary based on age. Neither of these additions negates the chief administrative advantages of the UBI because they don't introduce means-testing. It's trivially easy to vary...
  • What If Everybody Didn't Have to Work to Get Paid?

    05/20/2015 8:27:35 PM PDT · by 2ndDivisionVet · 70 replies
    The Atlantic ^ | May 18, 2015 | David R. Wheeler
    Scott Santens has been thinking a lot about fish lately. Specifically, he’s been reflecting on the aphorism, “If you give a man a fish, he eats for a day. If you teach a man to fish, he eats for life.” What Santens wants to know is this: “If you build a robot to fish, do all men starve, or do all men eat?” Santens is 37 years old, and he’s a leader in the basic income movement—a worldwide network of thousands of advocates (26,000 on Reddit alone) who believe that governments should provide every citizen with a monthly stipend big...
  • Your Government Owes You a Job

    04/29/2014 12:47:26 AM PDT · by 2ndDivisionVet · 52 replies
    The Nation ^ | April 23, 2014 | Raúl Carrillo
    The federal government can easily afford a job guarantee program, becoming our employer of last resort.Involuntary unemployment is barbaric. In the wealthiest country in history, almost 30 million people wish they had full-time work. But, as always, there aren’t enough jobs. And because economic security requires decent work, it’s unsurprising that 50 million people are poverty-stricken and 16 million children are hungry. This is a disgrace and an economic error: the US government can easily afford a Job guarantee (JG) program, becoming our employer of last resort. A right to a job may sound outlandish, but it’s common sense. You...
  • Establishment Proposes: “Have the Government Give Every Adult a Basic Income” (Insanity alert)

    11/23/2013 6:27:32 PM PST · by RWB Patriot · 44 replies
    SHTF plan ^ | 11-18-2013 | Mac Slavo
    With government intervention now becoming the only viable solution being touted for everything from individual health care and the economy to our personal safety and how we educate our children, it would only make sense that officials in Washington also figure out a way to use their power of confiscation and redistribution to equalize the income playing field. It’s no secret that 48 million Americans require nutritional assistance just to put food on the table, or that over 100 million of us are living in or at the very edge of poverty, or that nearly one in three of us...
  • A Town Without Poverty?

    11/09/2012 6:38:06 AM PST · by ksen · 56 replies
    The Dominion ^ | 9/5/2011 | VIVIAN BELIK
    WHITEHORSE, YK—Try to imagine a town where the government paid each of the residents a living income, regardless of who they were and what they did, and a Soviet hamlet in the early 1980s may come to mind. But this experiment happened much closer to home. For a four-year period in the '70s, the poorest families in Dauphin, Manitoba, were granted a guaranteed minimum income by the federal and provincial governments. Thirty-five years later all that remains of the experiment are 2,000 boxes of documents that have gathered dust in the Canadian archives building in Winnipeg. Until now little has...
  • The Ultimate Question For Democrats: (Joseph Farah: Stop Being Coy; Admit You ARE Socialists Alert)

    08/07/2007 12:06:08 AM PDT · by goldstategop · 12 replies · 714+ views
    Worldnetdaily.com ^ | 08/07/2007 | Joseph Farah
    So what's wrong with Democrats in this country? Why are they being so reactionary? Why do they insist on holding out on so many of their constituents? How long will it take them to achieve their stated goals with such a penny ante approach to redistribution of wealth? If heath insurance is, as they insist, a universal right, isn't food? Isn't shelter? Isn't clothing? Why are there no proposals being made to ensure all Americans can get free food, free housing and free clothing among other essentials? If you get a chance – at a town hall meeting or at...
  • It’s time for a guaranteed national income

    11/08/2005 4:20:51 PM PST · by SJackson · 87 replies · 2,022+ views
    Lakeland Times ^ | November 08, 2005 | Richard Moore
    I was watching MSNBC a few nights ago, or maybe it was CNN, and one of the program’s featured shots was a live picture from Bourbon Street in New Orleans. It was packed and the people were sassy and partying – normal, in other words. Indeed, the commentator used that, very word and stressed the importance of it. He said it again – New Orleans is returning to normal. How depressing it was to hear that because of all things we want for that city, we should not ever again want it to be its old normal self. Normal –...
  • The Anniversary of the Income Tax – the Worst Day in American History?

    10/04/2013 8:08:07 AM PDT · by Kaslin · 47 replies
    Townhall.com ^ | October 4, 2013 | Daniel J. Mitchell
    There have been some unfortunate and dark days in American history, but what was the worst day? Some obvious choices include December 7, when the Japanese bombed Pearl Harbor, and September 11, when the terrorists launched their despicable attack. Another option (somewhat tongue in cheek) might be January 20 since Republican partisans would say that’s the day that both Jimmy Carter and Barack Obama became President while Democratic partisans would say that’s the day Ronald Reagan became President. But allow me to suggest that Yesterday, October 3, should be a candidate for America’s worst day. Why? Because on this day...
  • What is the purpose of a tax system?

    06/01/2013 8:44:48 AM PDT · by EXCH54FE · 22 replies
    Watch Dog Wire ^ | May 30, 2013 | Steve Hayes
    In 1913, the United States passed the 16th Amendment and then enacted the income tax. Intended as a way of replacing revenues because of the perceived need to reduce the income from tariffs, it was only intended to apply to the wealthiest of the citizens. However Congress saw the potential advantages of the income tax to reward their friends and influence behavior. One of the reasons that Karl Marx’s Communist Manifesto insisted on a “a heavy progressive or graduated income tax” is that an income tax allows a government to directly control people much more than any other form of...
  • The interesting thing that happened when Kansas cut taxes and California hiked them

    06/18/2016 11:23:17 AM PDT · by napscoordinator · 42 replies
    The Washington Post ^ | June 17, 2016 | By Jim Tankersley and Max Ehrenfreund
    In 2012, voters in California approved a measure to raise taxes on millionaires, bringing their top state income tax rate to 13.3 percent, the highest in the nation. Conservative economists predicted calamity, or at least a big slowdown in growth. Also that year, the governor of Kansas signed a series of changes to the state's tax code, including reducing income and sales tax rates. Conservative economists predicted a boom. Neither of those predictions came true. Not right away -- California grew just fine in the year the tax hikes took effect -- and especially not in the medium term, as...
  • Bursting the false narrative -- Economic growth suffers from overspending, not undertaxation

    06/15/2016 6:06:54 AM PDT · by expat_panama · 5 replies
    The Washington Times ^ | Monday, June 13, 2016 | Richard W. Rahn
    At the end of this past week, The Washington Post ran a long story on the Center for Freedom and Prosperity (CFP), an organization that I have long supported. It appeared that the original goal was to do a hit piece on CFP because it had been a leader in the fight for global tax competition and smaller government. The irony was that the authors of the story quoted a number of people from around the world... ...who support bigger government and higher taxes, to the effect that those at the CFP had been highly successful in blocking a number...
  • A Challenge to Much That You Believe About the Fed

    06/15/2016 5:38:56 AM PDT · by expat_panama · 15 replies
    Real Clear Markets ^ | June 15, 2016 | Harry Binswanger
    John Tamny, of Forbes and RealClearMarkets, has penned a highly original and stimulating look at the economics of money and banking: Who Needs the Fed? I sang the praises of his remarkable Popular Economics when that came out, and now this just-published book has me singing them again, in a new key. Let me note up front that there are substantial parts of this book with which I, so far at least, disagree. I have exchanged some emails with Mr. Tamny on these issues and nothing has been resolved. This is a not A Bad Thing: it can be actually...
  • The "10% Flex" Tax plan, a novel idea for Taxes and Tariffs ~ Vanity

    05/24/2016 6:04:51 PM PDT · by GraceG · 29 replies
    GraceG
    When it comes to taxes, depending on whichever conservative you talk to they all have a different idea on what sort of tax plan would work best. Some want a national sales Tax, some want an income tax, and some even want a Tariff. So why not UNIFY under a plan that ALL of us can get behind? Here is an idea that I have been thinking about that i have never seen before. I call it the "10% Flex" Tax plan. Why is it flexible? It is flexible as it would allow congress to control what TYPE of taxes...
  • Blame Minimum Wage, Not Carl’s Jr. CEO, For Automated Restaurants

    05/17/2016 12:12:21 PM PDT · by Jim 0216 · 72 replies
    The ROOT CAUSE of our economic woes including business leaving our shores is the FEDERAL GOVERNMENT unconstitutionally forcing minimum wage on business. Minimum wage, regulations, unions, and high taxes are THE CAUSE of businesses moving elsewhere. Federal government is the problem NOT the solution. Although I support Trump, his tariff proposals are MORE federal government and do NOTHING to attack the ROOT CAUSES of the loss of jobs in our country. Tariffs have the appearance but not the reality of a solution - they are only palliative and delay the actual reforms needed. A tariff is a tax and China...
  • Hillary Clinton Says She’ll Put A Tax-Cutting Deregulator In Charge Of Economic Policy

    05/17/2016 3:24:05 AM PDT · by IBD editorial writer · 32 replies
    Investor's Business Daily ^ | 5/16/2016 | Staff
    Hillary Clinton made a big announcement Sunday, saying she’d put her husband “in charge of economic revitalization.” Only problem is that she’s already forsworn all the policies Bill enacted while he was in office that led to the 1990s boom.
  • IRS Chief: “Trump is a liar, we audited him because his taxes are highly suspicious” [IRS Lies]

    05/16/2016 9:03:14 AM PDT · by Roos_Girl · 157 replies
    Greenville Gazette ^ | March 2, 2016 | Juan Wilder
    “We don’t care who you are,” stated Koskinen, “Whether you go to church, or don’t go to church.” Koskinen explained audits occur when something pops up in your tax returns they find suspicious. It’s basically all about the numbers. Party or religious affiliation is not part of any IRS audit red flag, according to Koskinen.
  • Don't let 'Never Trump' become 'Ready for Hillary' (Rally 4 Trump - Rally 4 America First)

    05/15/2016 5:32:15 PM PDT · by Beautiful_Gracious_Skies · 40 replies
    CNN -opinions ^ | May 7, 2016 | Brett J. Talley
    From the article: Donald Trump is the Republican presumptive nominee, but ... you'll read articles urging voters never to support him. Ignore them. Many of these Trump opponents are principled people. Some fear Trump, ... they believe ... that America and its institutions, ... cannot endure a Trump presidency.... ... Trump's most vocal opponents -- prefer a president they can control... Trump is a wild card, and in a race between the devil they know and the one they don't, they'll take Hillary Clinton every time. Another four years of a Democratic president is, after all, good for business. And...
  • Trump Claims Clinton Bias, Blasts Stephanopoulos on Taxes ‘It’s None Of Your Business!’ (GMA 5/13)

    05/13/2016 12:38:27 PM PDT · by Sybeck1 · 54 replies
    https://www.youtube.com/watch?v=cEi8MFTOZ3c Trump Claims Clinton Bias, Blasts Stephanopoulos on Taxes ‘It’s None Of Your Business!’
  • Wealth Confiscation for the Digital Age: the New “Cash Tax”

    05/11/2016 1:35:23 PM PDT · by Lorianne · 21 replies
    Wolf Street ^ | 10 May 2016 | Brian Hunt
    “Negative interest rates” have become a phenomenon with economists and the media. But I’m writing to tell you something about negative interest rates you haven’t heard. You certainly won’t hear about it in the mainstream press. What’s coming at you is a historic event. It’s something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years. If you know what’s coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this...
  • Trump just exposed America's dirty little secret: Schiff

    05/08/2016 5:20:55 PM PDT · by RayofHope · 125 replies
    CNBC ^ | 05/08/2016 | Trump just exposed America's dirty little secret: Schiff
    Presumptive Republican presidential nominee Donald Trump just revealed an inconvenient truth about U.S. debt, the outspoken and often controversial Peter Schiff told CNBC in a recent interview. Last week, Trump joined CNBC's "Squawk Box" last week to discuss a wide range of topics including U.S. debt, interest rates and replacing Fed Chair Janet Yellen. It was Trump's comments about potentially renegotiating the more than $19 trillion in U.S. debt and the sensitivity surrounding higher interest rates that raised eyebrows. While some observers argued that Trump's approach could be tantamount to a debt default, Schiff told CNBC the GOP nominee was...
  • Trump: I’ll reduce the national debt by getting creditors to accept less

    05/06/2016 1:00:04 PM PDT · by SeekAndFind · 72 replies
    Hotair ^ | 05/06/2016 | AllahPundit
    <p>Reminds me of something Mike Murphy said about Trump in the aftermath of Jeb’s collapse. The logic in favor of nominating another Bush was always, er, complicated, but the logic against nominating a loose cannon is straightforward.</p> <p>I’ll bet even Murphy didn’t think Trump would advertise the possibility that America’s creditors might not receive payment in full in a Trump administration. Choose your own preferred term for what he’s recommending here — renegotiation, bankruptcy, default.</p>
  • Newt Gingrich: Trump Could Be ‘The Most Effective Anti-Left Leader in Our Lifetime’ (VIDEO)

    05/03/2016 8:00:40 PM PDT · by KentTrappedInLiberalSeattle · 127 replies
    Gateway Pundit ^ | 05/03/2016 | Jim Hoft
    Newt Gingrich went on with Sean Hannity tonight after the Donald Trump’s Indiana blowout and after Ted Cruz suspended his campaign. Newt argued that Donald Trump could be the “the most effective anti-left leader in our lifetime.” Newt added that anyone who does not support Trump is supporting Hillary. First of all, Donald Trump may turn out to be the most effective anti-left leader in our lifetime. He is against political correctness. He is against bureaucracy. He places American nationalism first which I think we desperately need. I’m tired of being told we have to phony agreements and phony efforts...
  • Trump Shows His Solid Policy Chops

    05/05/2016 5:52:22 AM PDT · by RoosterRedux · 19 replies
    Newsmax.com ^ | Betsy McCaughey
    The rap on Donald Trump is that he’s all bluster. The New York Times says he’s offering “incoherent mishmash.” Ted Cruz claims Trump has “no idea” how to fix the economy. Don’t’ believe it. The Trump campaign is putting forward proposals to fix problems facing the nation, from the long waits for medical care at the VA to the impending collapse of Obamacare. Check out Trump’s economic plan, for starters. Unlike Hillary Clinton’s radical anti-business agenda, Trump’s plan would actually help unemployed Americans get back to work. Trump slashes the corporate tax rate to 15 percent, down from the current...
  • Rep. Stephen Lynch (D-MA) pushing Hollywood Fiction for More Banking Regulations

    05/05/2016 8:25:41 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 05/05/16 | Megan Barth
    The Big Short: As The Big Short is short on reality, Big Government is short on accountability If it moves, tax it. If it keeps moving, regulate it. If it stops moving, subsidize it.—Ronald Reagan Enter Dodd Frank: legislation named after Democrats’ Christopher Dodd and Barney Frank, which enacted 2,300 pages of banking regulations. What could have possibly gone wrong with 2,300 pages of new government regulations on banks? This:
  • Trump say he’s open to higher minimum wage, goes after Sanders supporters

    05/04/2016 4:20:24 PM PDT · by ifinnegan · 143 replies
    Washington Times ^ | May 4, 2016 | SA Miller
    Presumptive Republican presidential nominee Donald Trump said Wednesday that he was open to raising the federal minimum wage, breaking with the prevailing view of his party. “I’m actually looking at that because I am very different from most Republicans,” Mr. Trump said in an interview on CNN’s. “You have to have something that you can live on.”
  • Jimmy Kimmel punks Hillary supporters by reading them parts of Trump's tax plan ...

    09/30/2015 11:27:16 AM PDT · by TigerClaws · 11 replies
    Donald Trump's tax plan is so friendly to low-income Americans that even Hillary Clinton fans can be tricked into supporting it, comedian Jimmy Kimmel discovered this week. The Jimmy Kimmel Live host decided to punk a group of Hillary voters, walking the streets of Hollywood, by sending out a staffer and having him list off parts of Trump's tax plan – but say it was Clinton's instead. Kimmel's guy ticked off parts of the plan – liberal-friendly items like no taxes for low-income workers, and conservative red meat like killing off the death tax – and received a chorus of...
  • Why Hillary’s And Bernie’s Tax Hikes On The Rich Are Doomed To Fail

    05/03/2016 4:00:13 AM PDT · by expat_panama · 30 replies
    Investors Business Daily ^ | 5/02/2016 | TERRY JONES
    Democratic presidential candidates Bernie Sanders and Hillary Clinton often assert that the only way to correct wealth inequality in America is to tax the rich at even higher rates. A new study suggests this is false. As part of what she called the “growth and fairness economy,” Hillary Clinton has proposed surtaxes on the wealthy and higher taxes on all capital gains to “shuffle the deck,” as she put it. In the past, she has hammered the rich for being, well, rich. “Economists have documented how the share of income and wealth... ...both Clinton and Sanders would raise rates on...
  • Bill Gates calls for higher capital gains taxes

    05/02/2016 8:29:17 AM PDT · by DCBryan1 · 75 replies
    CNBC ^ | 02 MAY 16 | Robert Frank | @robtfrank
    Bill Gates said investment gains should be taxed at the same level as ordinary income — a bold call for one of the world's largest investors. Speaking Monday on CNBC's "Squawk Box," Gates said that he's "pleased" that there is more discussion around changing the tax code. When asked what he would alter, Gates sided with his pal Warren Buffett and said he supports raising the earned income tax credit. But Gates also said he would raise the tax rate for capital gains — the largest source of income for the richest Americans. The current top tax rate on capital...
  • How Craig Wright Privately ‘Proved’ He’s the Father of Bitcoin

    05/02/2016 12:18:38 PM PDT · by nickcarraway · 9 replies
    Wired ^ | 05.02.16 | ANDY GREENBERG
    WHEN RUMORS SURFACED early last month that Australian cryptographer Craig Wright would attempt to prove that he created Bitcoin, Gavin Andresen remained skeptical. As the chief scientist of the Bitcoin Foundation, his opinion counts: Andresen is among the earliest programmers for the cryptocurrency, and likely the one who has corresponded more than anyone with Satoshi Nakamoto, Bitcoin’s pseudonymous, long-lost inventor. Today, Andresen fully believes that Wright is Nakamoto. Now he’ll have to convince the rest of the world, because he’s among the only people to have seen what he claims is the best evidence in Wright’s favor. In an interview...
  • Fantasy Math Is Helping Companies Spin Losses Into Profits

    05/01/2016 12:18:04 PM PDT · by Lorianne · 34 replies
    New York Times ^ | 22 April 2016 | GRETCHEN MORGENSON
    Companies, if granted the leeway, will surely present their financial results in the best possible light. And of course they will try to persuade investors that the calculations they prefer, in which certain costs are excluded, best represent the reality in their operations. Call it accentuating the positive, accounting-style. What’s surprising, though, is how willing regulators have been to allow the proliferation of phony-baloney financial reports and how keenly investors have embraced them. As a result, major public companies reporting results that are not based on generally accepted accounting principles, or GAAP, has grown from a modest problem into a...
  • E.J. Dionne: In American politics, stupidity is the name of the game (Need to Tax the rich more)

    07/29/2010 7:42:56 AM PDT · by SeekAndFind · 21 replies
    Washington (Com)Post ^ | 07/29/2010 | E.J. Dionne Jr.
    Can a nation remain a superpower if its internal politics are incorrigibly stupid? Start with taxes. In every other serious democracy, conservative political parties feel at least some obligation to match their tax policies with their spending plans. David Cameron, the new Conservative prime minister in Britain, is a leading example. He recently offered a rather brutal budget that includes severe cutbacks. I have doubts about some of them, but at least Cameron cared enough about reducing his country's deficit that alongside the cuts he also proposed an increase in the value-added tax, from 17.5 percent to 20 percent. Imagine:...
  • "The Forgotten History of the Federal Income Tax"

    04/25/2016 8:41:36 AM PDT · by Oldpuppymax · 17 replies
    The Coach's Team ^ | 4/25/16 | Susan Frickey
    “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.” – The 16th Amendment, Ratified 1913 The birth of the income tax! Prior to 1913, the constitutionally limited responsibilities of the federal government were generally covered by import tariffs. Occasionally, temporary taxes were imposed to pay for wars, but were to be apportioned by the states and could not be direct, personal taxes, according to the Constitution in Article I, sections 2 and 9. W. Cleon Skousen wrote a very...
  • NBC Pushes Trump to the Left on Transgender Bathrooms, Abortion, Taxes

    04/21/2016 10:27:35 AM PDT · by TexasCajun · 64 replies
    NewsBusters.org ^ | April 21, 2016 | Kyle Drennen
    Trump acknowledged that he “had a feeling that question was going to come up” and proceeded toe the liberal line of political correctness: “Well, look, North Carolina did something that was very strong and they're paying a big price and there's a lot of problems....People go, they use the bathroom that they feel is appropriate. There has been so little trouble.” ... Fellow co-host Savannah Guthrie turned to the subject of abortion: “The Republican platform, every four years, has a provision that states that the right of the unborn child shall not be infringed. And it makes no exceptions for...
  • Harvard Law activists demand free tuition as a matter of racial justice

    04/20/2016 2:38:23 PM PDT · by PROCON · 43 replies
    washingtontimes ^ | April 20, 2016 | Jessica Chasmar
    A group of Harvard Law School activists are demanding the graduate school do away with tuition fees, which they argue are “racially biased.” Members of the group Reclaim Harvard Law School published an open letter Sunday addressed to Law School Dean Martha L. Minow and members of the Harvard Corporation — the University’s highest governing body — demanding an end to tuition costs that they argue impose an unfair financial burden on students of color, The Harvard Crimson reported. Tuition at the law school will rise to $59,550 for the 2016-2017 academic year, and students are graduating with an average...
  • There's an even better solution to poverty than a $15 minimum wage (Basic universal income)

    04/20/2016 2:16:51 PM PDT · by 2ndDivisionVet · 33 replies
    Tech Insider ^ | April 20, 2016 | Chris Weller
    Bernie Sanders and Hillary Clinton spent a great deal of time debating the merits of raising the minimum wage at the last Democratic debate on April 14. Sanders, ever the radical, stood behind the popular $15 minimum wage figure that will soon take hold in California and New York. Clinton, who's long pushed for $12, updated her position in support of $15 figure. Both could be misguided. While raising the minimum wage does make sense on paper — working people need to make more to survive than they can on today's minimum wage, so we should give them more money...
  • 45% of Americans pay no federal income tax

    04/18/2016 1:50:30 PM PDT · by george76 · 49 replies
    MarketWatch ^ | Apr 18, 2016 | Catey Hill
    An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax ... The top 1% of taxpayers pay a higher effective income-tax rate than any other group (around 23%, according to a report released by the Tax Policy Center in 2014) — nearly seven times higher than those in the bottom 50%. On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax...
  • Why Tax Reform Is Forever Doomed

    04/18/2016 9:06:11 AM PDT · by SeekAndFind · 33 replies
    RCM via Washington Post ^ | 04/18/2016 | Robert Samuelson
    WASHINGTON - Almost everyone agrees that America's income tax is too complex. Considering this, you might expect that simplifying the income tax would be a slam dunk. Sure enough, the various presidential candidates have proposed sweeping overhauls. But any agreement is mostly rhetorical. The odds that the next president, whoever it be, will engineer genuine tax simplification are negligible. On this Tax Day, it's worth pondering why. Make no mistake: I think we'd be better off with a simpler system. By this, I mean a system with a broader tax base and lower rates. I'd eliminate most tax preferences and...
  • Mad At Corporate Tax Dodgers? Blame Democrats

    04/15/2016 4:21:02 AM PDT · by IBD editorial writer · 9 replies
    Investor's Business Daily ^ | 4/14/216 | Staff
    Tax Reform: The left is aghast that more than 20% of large, profitable corporations paid zero income taxes. But it’s the Democrats’ own tax policies that have created this odd situation.