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Keyword: taxes

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  • Why Is Observing Obama As A Marxist Verboten?

    03/22/2012 12:23:29 AM PDT · by billflax · 40 replies · 1+ views
    American Thinker ^ | 03/22/2012 | Bill Flax
    The recent release of a tape by Andrew Breitbart's outfit sparked renewed interest in President Obama's murky past. In anticipation, conservatives were elated that the president might finally be exposed. The tape showed Obama, then at Harvard Law, orchestrating a protest on behalf of Derrick Bell. Without providing any background on just how radical is Professor Bell, the compliant liberal media derisively dismissed it all as conservative paranoia, even proclaiming presidential vindication. It still appears preposterous to purport that America elected a communist ideologue. The world's greatest beneficiary of capitalist bounty would never willingly empower a radical socialist to "fundamentally...
  • Not a Penny More: The case for antitax absolutism

    03/21/2012 9:31:30 PM PDT · by neverdem · 10 replies · 1+ views
    City Journal ^ | Winter 2012 | William Voegeli
    During last summer’s debt-ceiling negotiations, David Brooks of the New York Times wrote that Republicans who rejected “trillions of dollars in spending cuts in exchange for a few hundred billion dollars of revenue increases” would reveal themselves as “fanatics” with “no sense of moral decency”—clearly “not fit to govern.” In November, after the failure of the congressional “supercommittee” spawned by the debt-ceiling crisis, the Washington Post’s Eugene Robinson made much the same point: bringing the federal debt under control without higher taxes made sense only “in the parallel universe inhabited by GOP ideologues, a place where the laws of...
  • Obamacare's Four Tax Hikes on Young Adults and Children

    03/21/2012 10:58:45 AM PDT · by 92nina · 1 replies
    ATR ^ | 2012-03-21 | Ryan Ellis
    The jobs-killing Obamacare law contains 20 new or higher taxes on American families and employers. Many of these tax increases fall on families making less than $250,000--a direct violation of candidate Obama's promise not to raise "any form" of taxes on these families. In less than a week, the second anniversary of Obamacare being signed into law will take place. The Supreme Court will be hearing oral arguments about the constitutionality of Obamacare next week. Out of the 20 new or higher taxes in Obamacare, here are the four that most hurt young adults and children. Every single one of...
  • Obamacare, Two Years Later : It's still a failure

    03/21/2012 6:34:45 AM PDT · by SeekAndFind · 4 replies · 1+ views
    National Review ^ | 03/21/2012 | Michael Tanner
    This week marks two years since of the passage of the Patient Protection and Affordable Care Act, and if the Obama administration has chosen to all but ignore the second anniversary of Obamacare, the rest of us should pause and reflect on just what a monumental failure of policy the health-care-reform law has been. Whats more, it has been a failure on its own terms. After all, when health-care reform was passed, we were promised that it would do three things: 1) provide health-insurance coverage for all Americans; 2) reduce insurance costs for individuals, businesses, and government; and 3) increase...
  • Amelia Earhart: Why is Hillary Clinton backing new search?

    03/21/2012 2:58:03 AM PDT · by Libloather · 51 replies · 1+ views
    Yahoo ^ | 3/20/12 | Peter Grier
    Amelia Earhart: Why is Hillary Clinton backing new search? (+video)By Peter Grier | Christian Science Monitor 14 hrs ago Hillary Clinton and the US State Department are backing a new search for the remains of Amelia Earhart and her famous Lockheed Electra 10E. In doing so they are attempting to help solve one of the 20th centurys most famous mysteries: What happened to Earhart and navigator Fred Noonan when they disappeared in the Pacific on the fateful day of July 2, 1937. **SNIP** Why the US support for this effort? Well, for one thing, Clinton herself is something of...
  • When Taxes Don't Have The Desired Effect

    03/20/2012 3:44:21 PM PDT · by greywar · 31 replies
    zPatriot ^ | 3/20/2012 | Sergeant Greywar
    Even small dis-incentives can drive economic activity to die off or move.While discussing the near inevitability of a tax on buying or selling shares in a company (separate for already existing taxes for gains from those transaction) the German newspaper Der Speigel cites the British experiment with exactly this sort of tax: To see why, one must look no further than the meager successes of the British stock exchange tax, which only applies to share transactions, which constitute a tiny portion of all financial transactions. Since the introduction of the "Stamp Duty Reserve Tax" of 0.5 percent on the sale...
  • Apple's calls for repatriation tax holiday gain no traction with White House

    03/20/2012 3:53:45 PM PDT · by bkopto · 36 replies · 2+ views
    Apple Insider ^ | March 20, 2012 | Sam Oliver
    With some two-thirds of its cash hoard housed overseas, Apple would like a tax holiday to allow it to move that money back to the U.S., but its pleas have fallen on deaf ears at the White House. With $64 billion in cash remaining offshore, Apple executives said during a conference call on Monday that they have no plans to bring that money back to the U.S. because of taxes. For some time now, Apple has lobbied the U.S. government for a tax holiday that would give the company an incentive to bring that money stateside. "Repatriating the cash would...
  • Revenues shrinking, but Malloy still projects a surplus

    03/20/2012 3:11:29 PM PDT · by matt04 · 5 replies · 1+ views
    Gov. Dannel P. Malloy's administration recognized shrinking tax revenues in its latest budget forecast Wednesday, yet remained the only entity still projecting that state government will wrap up the fiscal year in just over three months in the black. In a report filed Wednesday with the comptroller's office, the governor's budget agency did note that the new $12.4 million surplus projection in the general fund falls $62.6 million short of the level needed to continue the ongoing conversion of state finances to Generally Accepted Accounting Principles. "The performance of income tax collections during the April filing period ... will be...
  • The Buffett Rule would bring in less than $3 billion a year in revenue

    03/20/2012 2:56:40 PM PDT · by SeekAndFind · 5 replies · 2+ views
    Hotair ^ | 03/20/2012 | Ed Morrissey
    Barack Obama has spent the last seven months demanding a surtax for the wealthy as a needed revenue resource to balance the federal budget and restore "fairness" to the tax system. In making that case, Obama has often used the anecdote provided to him by multibillionaire Warren Buffett and how his secretary pays a lower tax rate than he does --- although Obama rarely explains that the difference comes from lower tax rates on risk-related income rather than salary, which rewards and encourages further risk-taking and boosts the economy. Now the Joint Committee on Taxation has scored Obama's Buffett Rule,...
  • Taxpayer Refund Could Be Bigger Than Expected

    03/20/2012 1:39:15 PM PDT · by Abathar · 2 replies ^ | 03/20/2012 | Norman Cox
    INDIANAPOLIS -- State refunds for Indiana taxpayers will likely be bigger than first expected, Gov. Mitch Daniels said Tuesday. The governor signed into law a bill that refines the automatic taxpayer refund that's triggered when the state surplus exceeds 12.5 percent of the state budget, RTV6's Norman Cox reported. "This, of course, makes Indiana a state that says at some point, when budgets are balanced and reserves are full, the state should stop collecting money and leave it with the people who earned it," Daniels said. "We think it's a very important principle." The refunds will come as an add-on...
  • Guest Post: Welcome To The Predatory State of California--Even If You Don't Live There

    03/20/2012 10:10:39 AM PDT · by bkopto · 29 replies
    ZeroHedge ^ | March 20, 2012 | Tyler Durden
    Correspondent R.T. is a retired accountant who has resided in Arizona since 2001. Prior to 2001, he resided in California. On March 14, he received a letter from the California Franchise Tax Board (the agency that collects income taxes) claiming that he owed $1,343 for the tax year 2006. This was the first notification he'd ever received of this claim. This was an interesting claim given that R.T.: -- Did not reside in California in 2006 -- Did not file a State income tax return in California in 2006 -- Did not have any outstanding tax issues with California in...
  • The Latest Effort in Global Taxation

    03/20/2012 10:11:15 AM PDT · by 92nina · 8 replies
    ATR ^ | 2012-03-19 | Kelsey Zahourek
    The prospect of instituting a global tax in some form or another is constantly rearing its ugly head. Bill Gates can often be heard advocating for global taxes on financial transactions, aviation, and energy. There are even serious talks of a U.N takeover of the Internet. The latest foray into global taxation is calls by international organizations and the WHO to institute a global tax on tobacco products through the Solidarity Tobacco Contribution to fund international projects aimed at alleviating global poverty. The level of taxation would depend on the wealth of the country, meaning the U.S. would be hit...
  • 76 percent of voters think higher energy taxes could equal higher pump prices

    03/20/2012 9:37:14 AM PDT · by thackney · 16 replies
    American Petroleum Institute ^ | March 20, 2012 | Sabrina Fang
    Seventy-six percent of voters nationwide believe that raising taxes on the energy industry could cost them more at the gas station. The overwhelming sentiment was echoed across political, gender, age, racial, income, educational and ideological lines according to a new What America is Thinking on Energy Issues poll released today. Voters understand that raising taxes is not a solution for high gasoline prices, said API President and CEO Jack Gerard. We should instead be encouraging more safe and responsible domestic energy production to help bring more crude oil to American consumers. A true all-of-the-above energy strategy would include greater access...
  • Top New York Labor Leader Moves To Long Island, Saves $30,000 in City Income Taxes

    03/20/2012 8:58:56 AM PDT · by OddLane · 16 replies
    New York Sun ^ | March 20, 2012 | Ira Stoll
    One of Americas most powerful labor leaders, teachers union president Randi Weingarten, has quietly moved out of New York City, a decision that saved her from paying more than $30,000 in city income taxes that she would have owed if she had stayed. Discussion of people fleeing New York City in part because of high income tax rates has mostly focused on high-powered conservative commentators and billionaire hedge-fund managers. Glenn Beck moved to Dallas, and Rush Limbaugh sold his New York apartment and announced he was vacating the city. An article in last weeks New Yorker discussed the case of...
  • House GOP Budget to Target Tax Rates [two individual brackets of 10% and 25%.........]

    03/19/2012 4:36:10 PM PDT · by Sub-Driver · 19 replies
    House GOP Budget to Target Tax Rates By NAFTALI BENDAVID House Republicans, seizing on what they hope is a potent campaign issue in the midst of a muddled political and economic landscape, will introduce a 2013 budget Tuesday that cuts tax rates and provides for two individual brackets of 10% and 25%. The budget would end the Alternative Minimum Tax, which was originally aimed at the wealthy but which ensnares a growing number of middle-class taxpayers each year. The plan would nearly eliminate U.S. taxes on American corporations' earnings from overseas operations. The proposal, to be offered by Rep. Paul...
  • Democrats pledge fuel tax relief, but only for one year

    03/19/2012 4:58:31 PM PDT · by matt04 · 6 replies
    Majority Democrats proposed a one-year cap Monday on the state's escalating wholesale fuel tax -- but set it to expire one day before one of the largest fuel tax increases in state history is set to kick in. ... Republican legislative leaders, who have been advocating a cap on the states most volatile levy on gasoline for several months, agreed to support the proposal, but criticized Democrats for including an expiration date. At New Haven harbor, the single-largest fuel importing site in Connecticut, the wholesale price of gasoline stood Monday at $3.18 per gallon, according to the Independent Connecticut Petroleum...
  • Obamacare's Five Tax Increases That Most Hurt Seniors

    03/19/2012 9:43:57 AM PDT · by 92nina · 3 replies · 1+ views
    ATR ^ | 2012-03-18 | Ryan Ellis
    The jobs-killing Obamacare law contains 20 new or higher taxes on American families and employers. Many of these tax increases fall on families making less than $250,000--a direct violation of candidate Obama's promise not to raise "any form" of taxes on these families. In less than a week, the third anniversary of Obamacare being signed into law will take place. The Supreme Court will be hearing oral arguments about the constitutionality of Obamacare next week. Out of the 20 new or higher taxes in Obamacare, here are the five that most hurt seniors: Individual Mandate excise tax penalty. Many seniors...
  • Read an excerpt from Grover G. Norquist and John R. Lott Jr.'s new book -- 'Debacle'

    03/18/2012 8:15:49 PM PDT · by richardb72 · 27 replies · 1+ views
    Fox News ^ | March 15, 2012 | John R. Lott Jr. and Grover G. Norquist Read more:
    Editor's note: is pleased to present an excerpt from "Debacle: Obama's War on Jobs and Growth and What We Can Do Now to Regain Our Future " the new book by Grover G. Norquist and contributor John R. Lott Jr. Chapter 3: The Stimulus Made Things Worse What Was Promised Matt Lauer: At some point will you say, Wait a minute, weve spent this amount of money. Were not seeing the results. Weve got to change course dramatically? . . . President Obama: Look, Im at the start of my administration . . . And . . ....
  • Amendment to highway bill sideswipes Little Tobacco

    03/18/2012 6:01:05 PM PDT · by Tolerance Sucks Rocks · 45 replies · 1+ views
    The Washington Post ^ | March 17, 2012 | Rosalind S. Helderman
    Nobody mentioned tobacco last week when the U.S. Senate adopted an amendment to the $109 billion federal highway bill. But tucked into the 5,600-word amendment to provide aid for rural schools was a single paragraph that would settle a two-year-old fight between Big Tobacco and a small Ohio company that builds a do-it-yourself machine that allows smokers to get their cigarettes a lot cheaper. The amendment would reclassify tobacco shops that offer the machines as tobacco manufacturers, imposing on them new regulations and higher taxes, and it opens a window into the ways of Washington, where the powerful and the...
  • Obama: End tax breaks for oil companies

    03/17/2012 12:44:20 PM PDT · by bestintxas · 91 replies
    wash times ^ | 3/17/12 | d boyer
    President Obama said Saturday he cant do much to lower gas prices, and renewed his call for Congress to end tax breaks for oil companies. The truth is, the price of gas depends on a lot of factors that are often beyond our control, Mr. Obama said in his weekly address. Unrest in the Middle East can tighten global oil supply. Growing nations like China or India adding cars to the road increases demand. The president didnt mention one of the few direct actions he could take to try to lower gas prices in the short term releasing oil...