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Keyword: taxes

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  • New Jersey Prepares To Raise Taxes On "Almost Everything" As It Nears Financial Disaster (Title)

    03/14/2018 11:40:06 AM PDT · by CptnObvious · 62 replies
    Vanity | 03/14/2018 | Self
  • Murphy to propose raising N.J. sales tax in first budget

    03/13/2018 3:46:03 PM PDT · by GuavaCheesePuff · 40 replies
    Newark Star-Ledger ^ | March 13, 2018 | Matt Arco and Samantha Marcus
    Gov. Phil Murphy is set Tuesday to unveil a state budget proposal -- his first -- that will include more than $1.5 billion in new revenue from taxes and closing loopholes, including a small spike in New Jersey's sales tax, NJ Advance Media has learned. The extra revenue would also come from a proposed millionaires tax, closing tax loopholes used by corporations, and a plan to legalize marijuana, according to multiple sources briefed on the budget.
  • Trump Wants A 'Phase Two' Of Tax Cuts

    03/13/2018 7:11:28 AM PDT · by Enlightened1 · 62 replies
    CNBC ^ | 03/12/18 | Jacob Pramuk
    President Trump again brings up a "phase two" of tax cuts. The GOP law passed in December permanently chops taxes for corporations and temporarily reduces the tax rate for most individuals. Trump wants a 'phase two' of tax cuts Trump wants a 'phase two' of tax cuts 18 Hours Ago | 00:44 President Donald Trump said again Monday he wants a "phase two" of tax cuts on top of the law Republicans passed in December. Speaking as the World Series champion Houston Astros visited the White House, Trump asked Rep. Kevin Brady, R-Texas, whether he planned to cut taxes further....
  • Small-business confidence hits record high in 2018 after Trump tax-reform win

    03/13/2018 5:17:26 AM PDT · by SeekAndFind · 3 replies
    CNBC ^ | 03/13/2018 | Kate Rogers
    Small-business confidence is surging in 2018 as optimism rises among small-business owners about the newly enacted tax-reform package, according to the latest CNBC/SurveyMonkey Small Business Survey, released Tuesday. The CNBC/SurveyMonkey Q1 Small Business Confidence Index saw an increase of five points, from 57 to 62, a record high and the largest quarter-to-quarter move the index has seen since CNBC and SurveyMonkey began measuring last year. This is the first survey since President Donald Trump signed the Tax Cuts and Jobs Act into law on December 22, 2017. In the Q4 survey, small-business owners were split evenly on the core question...
  • Why the Democrats Made Such an Idiotic Tax Proposal

    03/12/2018 8:50:05 AM PDT · by SeekAndFind · 14 replies
    PJ Media ^ | 03/12/2018 | Roger Simon
    With the economy roaring as it hasn't in decades, the stock market at all-time highs, and unemployment (including for blacks and Hispanics) at all-time lows, the Democrats have just proposed to "fix things" by raising taxes. Say what? This proposal, which includes raising the highest bracket and the corporate rate (after years of trying to get it down), plus raising the rates for "30 million companies which are organized as sole proprietorships, partnerships, Subchapter-S corporations, and LLCs" not to mention bringing back the alternative minimum tax (a boondoggle for preparers), will end up costing the vast majority of Americans most,...
  • Florida Man Avoids Millions in Taxes by Hiding Illegal Aliens From Payroll

    03/11/2018 8:40:00 PM PDT · by Kaslin · 43 replies ^ | March 11, 2018 | Timothy Meads
    This story is a little over a week and half old, but it remains topical. A Florida man avoided paying millions in social security, federal, income and Medicare taxes by failing to report a number of illegal aliens working on his payroll. However, his story also shows the potentially dangerous work environment that exists for illegal aliens when immigration laws are neglected. Mac Johnson owns several roofing, tree services, and dumpster businesses. According to WCJB ABC 20 News, he "devised a scheme to conceal the amount of wages earned by his undocumented alien employees to avoid paying more than $1.7 million in...
  • So why is Donald Trump sticking it to New Jersey?

    03/10/2018 9:40:41 AM PST · by GuavaCheesePuff · 53 replies
    Newark Star-Ledger ^ | March 10, 2018 | Jonathan D. Salant
    WASHINGTON -- President Donald Trump's new-found opposition to funding the Gateway Tunnel project is just the latest example of how he's championed policies that punish New Jersey, where he has long ties and spends his spring weekends and summer vacation. The Trump-backed tax plan targeted New Jersey and other high-tax states by curbing the federal deduction for state and local taxes, and he backed Affordable Care Act repeal efforts that disproportionately cut funding from those states, which expanded Medicaid in order to expand coverage. Meanwhile, New Jersey taxpayers send billions of dollars more to Washington than they get back in...
  • Illinois Progressive Tax Gambit

    03/10/2018 5:52:36 AM PST · by reaganaut1 · 8 replies
    Wall Street Journal ^ | March 9, 2018
    The only two restraints—at least for now—on public union governance in Illinois are GOP Gov. Bruce Rauner and the state’s flat income tax. Democrats hope to do away with both in November. Democrats in Springfield have filed three constitutional amendments to establish a graduated income tax—the rates won’t be determined until after voters give their assent. The state’s flat 4.95% income tax, believe it or not, is lower than the rate in all its neighbors save Indiana (3.23%). But its property and corporate taxes are among the highest in the country. Last summer Democrats with the help of a handful...
  • Democrats Release Tax Hike Plan

    03/09/2018 11:54:53 AM PST · by Beave Meister · 55 replies
    Forbes ^ | 3/9/2018 | Ryan Ellis
    This week, Congressional Democrats released a detailed tax hike plan that they promised to implement if given majority control of the House and Senate after the 2018 midterm elections. So much for the crocodile tears about the deficit--Democrats want to raise taxes not to reduce the debt, but rather to spend that tax hike money on boondoggle projects. As you might expect, hold onto your wallets. Here are the details: Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in...
  • NYT Corrects Piece About Couple’s Tax Increase Under New Law to Admit Their Taxes Would Go Down

    03/08/2018 1:29:52 PM PST · by MarvinStinson · 23 replies
    freebeacon ^ | Alex Griswold March 7, 2018 | Alex Griswold March 7, 2018
    A New York Times analysis of how the recently enacted tax reform law could affect a hypothetical couple's taxes was corrected to admit their taxes would actually go down, not up. In the story from late February, the Times collaborated with TurboTax vice president Bob Meighan to lay out how the Republican-backed tax overhaul would affect "Samuel and Felicity Taxpayer," an imaginary couple from suburban New York that makes $183,911 a year. Samuel is a self-employed engineering consultant, and Felicity is as an employee of a design firm. The "bottom line" of their analysis: "The family would owe $3,896 more...
  • Thanks Obama for punishing me because I am not rich.

    03/05/2018 3:48:47 PM PST · by GrandJediMasterYoda · 41 replies
    GrandJediMasterYoda ^ | 3/5/18 | GrandJediMasterYoda
    Just finished doing my taxes this year online, and lo and behold, I foolishly thought the Obamacare "fine" didn't exist anymore, I thought I was getting a refund. Ha ha, how stupid of me. Now I owe the government money because I couldn't afford to pay $1200 a month so illegals could get free healthcare. Anyone else run into this yet?
  • Poll Finds More Americans Agree With Pelosi that GOP Tax Cut Delivered ‘Crumbs’(barf alert)

    03/04/2018 12:41:30 PM PST · by Ennis85 · 52 replies
    U.S News ^ | March 2nd 2018 | Gabrielle Levy
    HALF OF AMERICANS AGREE with House Minority Leader Nancy Pelosi's comments that corporations are giving their workers "crumbs" as a result of the tax bill, according to a poll released Friday by a group aligned with President Donald Trump. America First Priorities, found 49 percent of respondents agreed with the California Democrat, whose remarks pointed out the disparity in the windfall companies received in December with the passage of a major tax cut compared to the comparatively small bonuses they're handing out to their employees. "In terms of the bonus that corporate America received versus the crumbs that they are...
  • Delta says NRA discount was only used for 13 tickets

    03/02/2018 3:42:51 PM PST · by BackRoads775 · 104 replies ^ | 03/02/2018 | By Avery Anapol
    Delta Airlines said Friday that they only sold 13 tickets under their group travel discount for the National Rifle Association. The airline cut ties with the NRA last week in the wake of the Florida school shooting, prompting major outcry from gun owners and Georgia lawmakers, where Delta is based. A Delta spokesperson told the Atlanta Journal-Constitution that the discount, which gave a price cut to members flying to their annual convention, was only used on 13 tickets.
  • Amazon Inc. Paid Zero in Federal Taxes in 2017, Gets $789 Million Windfall from New Tax Law

    02/27/2018 9:12:10 AM PST · by Enlightened1 · 42 replies
    ITEP ^ | 02/13/18
    In 2017, Amazon reported $5.6 billion of U.S. profits and didn’t pay a dime of federal income taxes on it. The company’s financial statement suggests that various tax credits and tax breaks for executive stock options are responsible for zeroing out the company’s tax this year. The company’s zero percent rate in 2017 reflects a longer term trend. During the previous five years, Amazon reported U.S. profits of $8.2 billion and paid an effective federal income tax rate of just 11.4 percent. This means the company was able to shelter more than two-thirds of its profits from tax during that...
  • Democrats are surprised that more money in pay checks is popular

    02/27/2018 5:34:14 AM PST · by Cheerio · 27 replies
    powerlineblog. ^ | February 26, 2018 | Paul Mirengoff
    How out of touch is the Democratic Party? This out of touch: The Washington Post reports that Democrats expected the Trump tax cut to be unpopular and are surprised to find that voters like seeing more money in their pay checks. Post reporter Erica Warner writes: Democrats predicted a political backlash for ­Republicans in December when the GOP pushed through a deeply unpopular tax cut that added more than $1 trillion to the federal deficit and disproportionately helped the wealthy. But at the outset of the 2018 campaign season, Democrats’ early optimism appears less well founded here [in Indiana], where...
  • Corporate Combat: Georgia Conservatives Aim to Derail Delta ... Subsidy After Airline Cuts NRA Ties

    02/26/2018 12:46:12 PM PST · by Haiku Guy · 21 replies
    Breitbart ^ | 2/26/2018 | Matthew Boyle
    Georgia conservatives are attempting to derail a jet fuel tax break that the state government was set to hand out to Delta Airlines after the company cut ties with the NRA in the wake of the Parkland, Florida, school shooting.
  • Congress Should Make Relief Permanent

    02/26/2018 11:11:21 AM PST · by Kaslin · 7 replies ^ | February 26, 2018 | Phil Kerpen
    The first year of the Trump administration saw remarkable accomplishments on both tax and regulatory relief, with fundamental tax reform for the first time in decades and the massive regulatory onslaught of the Obama years stopped and reversed. With wages rising and the economy strengthening, the most important priority for Congress in 2018 should be to lock in these historic accomplishments. As it stands now, nearly all of the tax relief for individuals is scheduled to expire in 2025, due to Senate rules that imposed a procedural constraint on the process to avoid a Democratic filibuster. The hope and expectation...
  • Bill Gates needs to practice what he preaches

    02/26/2018 7:40:56 AM PST · by SeekAndFind · 12 replies
    New York Post ^ | 02/26/2018 | Jonathan Trugman
    When one of the two richest people on the planet says that he is undertaxed, it makes for intriguing, self-righteous headlines. Bill Gates of Microsoft fame is worth an estimated $90 billion (plus or minus a few billion) and has long been an advocate for higher tax rates for ultra-rich people like himself. He and his wife operate the Bill and Melinda Gates Foundation, which has some $41.3 billion in assets, per KPMG’s Dec. 31, 2016 audit. Much of the money is the result of Gates’ and Warren Buffett’s pledges to leave half their fortunes or more to the foundation...
  • Warren Buffett: The new GOP tax law benefits Berkshire and acts as a 'huge tailwind' for businesses

    02/26/2018 5:13:44 AM PST · by C19fan · 5 replies
    CNBC ^ | February 26, 2018 | Matthew J. Belvedere
    Billionaire investor Warren Buffett, who did not support the Republican plans to cut taxes, told CNBC on Monday his Berkshire Hathaway conglomerate stands to benefit from the new corporate rate. The GOP tax law, which lowered the federal corporate rate from 35 percent to 21 percent, is a "huge tailwind" for American businesses, Buffett said.
  • Top Dems Split from Pelosi on Tax Cut Criticisms, 'Crumbs' Statement

    02/22/2018 2:32:45 AM PST · by Libloather · 9 replies
    Fox News ^ | 2/21/18
    Several top Democratic congressmen are distancing themselves from House Minority Leader Nancy Pelosi over her harsh criticism of President Trump's tax cuts. Democratic National Committee Vice Chairman Rep. Keith Ellison (D-Minn.) pushed back on Pelosi's comment that bonuses paid to employees by various companies were mere "crumbs." "The income inequality is so bad, that if you could pick up $1,000 or $900, maybe it helps," he said in comments reported by Axios.