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...
  • Marylanders making $500K may pay a whole lot more tax

    03/16/2012 8:17:28 PM PDT · by Tolerance Sucks Rocks · 39 replies
    The Washington Times ^ | March 15, 2012 | David Hill
    ANNAPOLIS The Maryland Senate passed a $35.9 billion budget package Thursday that would increase income-tax rates on nearly all earners and impose a flat income tax on residents making more than $500,000 a year. The spending plan would boost the states income-tax brackets by as much as 0.25 percentage point a move expected to generate more than $500 million next fiscal year. The budget bill passed after senators narrowly approved an amendment Wednesday night that would allow the state to tax half-millionaires, who make more than $500,000 annually, at the maximum 5.75 percent rate for every dollar they...
  • ILLEGAL IMMIGRANT: We Do Pay Taxes, And The Government Knows Exactly Who We Are

    03/16/2012 5:04:30 PM PDT · by moonshinner_09 · 25 replies
    Business Insider ^ | Mar. 16, 2012 | Jana Kasperkevic
    It's a myth that illegal immigrants don't pay taxes, says Dulce Guerroro, a self-confessed illegal immigrant living in Mableton, Georgia. Guerrero's whole family is undocumented, except for her 13-year old younger brother, who was born in the U.S. and is a U.S. citizen. She says that they all work and pay taxes through their Internal Revenue System (IRS) issued Individual Taxpayer Identification Numbers (ITINs). "People always, always point out that we don't pay taxes, which is a complete lie," Guerrero told Business Insider. "We have a government issued tax ID number. So the government knows very well who we are....
  • Cut taxes to get more taxes?

    03/16/2012 12:39:28 PM PDT · by landsbaum · 13 replies · 3+ views
    The Orange County Register ^ | 3-16-2012 | Mark Landsbaum
    The last thing Democrats and other tax-and-spenders want to do is to cut taxes. Oh woe are they if tax cutters have their way. Where will they get money to spend if taxes are cut? Of course, this is short-sighted as well as greedy. Ask Art Laffer. . . Or, ask John Kennedy. Yeah, that John Kennedy. . .
  • Thomas Sowell to Newsmax: CBO Should Be Abolished (Video interview)

    03/16/2012 10:19:54 AM PDT · by jazusamo · 30 replies · 1+ views
    NewsMax ^ | March 15, 2012 | David A. Patten
    VIDEO AT LINK Conservative economist Thomas Sowell is calling for the abolishment of the Congressional Budget Office (CBO) after it revealed this week that Obamacare may cost American taxpayers nearly twice the $940 billion it originally estimated -- $1.7 trillion over the next decade. I think occasionally the CBO does something thats useful, Sowell told Newsmax.TV in an exclusive interview. But by and large, I think it should be abolished. In September 2009, President Obama estimated healthcare reform under the Patient Protection and Affordable Care Act would cost an additional $900 billion over 10 years. The CBO initially projected the...
  • Dueling ballot tax initiatives? Hey Jerry, Mollys not going away

    03/16/2012 10:13:23 AM PDT · by landsbaum · 3 replies
    Gov. Jerry Brown tried to improve his chances of raising your taxes by caving in to a teachers union and agreeing to merge his tax initiative with the unions. Too many tax-increase initiatives on the ballot, Brown rightly reasons, will make it unlikely voters will approve one. But theres still a second initiative authored by attorney Molly Munger to raise about as much in taxes as Browns, $9 billion to $10 billion. Mungers would increase everyones state income tax. Browns would increase income taxes on high earners and add a quarter cent to the sales tax...
  • Businesses Exit Taxifornia in Droves

    03/16/2012 8:41:56 AM PDT · by Kaslin · 66 replies ^ | March 16, 2012 | Mike Shedlock
    California Tax Revenue Plunges Inquiring minds have noticed a huge plunge in California Tax Revenue for the month of February compared to February 2011. The numbers below represent a 22.55% plunge in spite of the fact that this February was a leap year adding a day to the calendar. Madeline Schnapp, at TrimTabs Investment Research sent me a quick note regarding that plunge a few days ago. Madeline writes...Hello Mish I came across this little tidbit from the February report from the Comptroller's office of the State of CA. In Feb 2012 income tax receipts are down $328 million y-o-y,...
  • Government's Pot of Gold Grows on St. Patrick's Day

    03/16/2012 7:43:47 AM PDT · by 92nina
    Cost of Government Center ^ | 2012-03-13 | [Staff]
    St. Patricks Day is celebrated by an estimated 127.5 million people in the United States, all of whom must first pay a heavy price to government for partaking in the Irish revelry. This year, the cost of celebrating St. Patricks Day is driven up by government by 29.9 percent. Every tradition of the holiday carries a reminder that taxpayers luck has run out when it comes to the cost of government: Religious practices, parades, beverages consumed, decorations hung, special meals made and celebratory clothing donned are all targets of government taxation. These traditions are all subject to forms of income...
  • THE NATIONAL FUEL TAX HOLIDAY BILL: Which Presidential Candidate Will Write It?

    03/15/2012 8:52:25 PM PDT · by Graewoulf · 16 replies
    Graewoulf | March 15, 2012 | Graewoulf
    If the Federal Tax on Gasoline, Jet Fuel and Diesel were removed for one year, then the price of fuel would decrease by that amount. If a gallon of gasoline costs $ 4.00, and the Federal Tax was 40 cents, then the price at the pump would be $ 3.60, a savings of 10 %. Simple, just pass a National Fuel Tax Holiday Bill! However, there are a couple of problems. The first problem is Senator "Bottleneck" Reid. In his senility, he has taken a personal, and very fussy interest in the US Senate, and daily makes sure that all...
  • Tobacco Bonds Deliver a Lesson -- Decline in smoking hurts payment of state notes (CA-DUH!)

    03/15/2012 4:58:12 PM PDT · by Mark · 21 replies
    Los Angeles Daily News ^ | 3/15/2012 | Editorial
    The percentage of Californians who smoke has dropped to an all-time low of 11.9 percent, the second-lowest in the nation behind Utah's 9.1 percent. That's good news for the health of Californians, but bad news for the state's budget and First 5 program, which funds local services for children up to age 5. The decline in smoking was anticipated, but it has descended at a much sharper rate than predicted. As a result, California will face difficulty in funding $16 billion in bonds the state has issued since 2001. The bonds are supposed to be financed by payments from the...
  • Big Oil, Bigger Taxes

    03/15/2012 4:39:00 PM PDT · by RicocheT · 9 replies
    Wall Str Journal ^ | March 14, 2012 | REVIEW & OUTLOOK
    President Obama says he wants to end subsidies for what he calls "the fuel of the past," but lucky for him oil and gas will be the fuels of the future too. His budget-deficit blowout would be so much worse without Big Oil, because the truth is that this industry is subsidizing the government. Much, much worse, actually. The federal Energy Information Administration reports that the industry paid some $35.7 billion in corporate income taxes in 2009, the latest year for which data are available. That alone is about 10% of non-defense discretionary spendingand it would cover a lot of...
  • Republicans Join Democrats Supporting Colossal Tax Increase

    03/15/2012 4:16:34 PM PDT · by Iam1ru1-2 · 38 replies
    PatriotPost.US ^ | March 15, 2012 | Mark Alexander
    Lamar Alexander and Dick Durbin, the Tax Tag Team"Invention is continually exercised, to furnish new pretenses for revenues and taxation. It watches prosperity as its prey and permits none to escape without tribute." --Thomas Paine (Rights of Man, 1791) "Fairness"? Under cover of the Republican Presidential Primary debates about how to defeat Barack Hussein Obama's socialist agenda and his plan to fund the final chapter of that agenda with enormous tax increases, Sen. Lamar Alexander (R-TN, no relation!) and Sen. Dick Durbin (D-IL) have teamed up to promote one of the largest tax increases in U.S. history -- a heavy...
  • California Tuition Blues: Californians themselves are to blame for spiraling college costs

    03/15/2012 6:20:56 AM PDT · by SeekAndFind · 25 replies
    National Review ^ | 03/15/2012 | Victor Davis Hanson
    In so-called March in March protests, thousands of students in California universities recently demonstrated in outrage over spiraling tuition costs. At both the California State University and University of California multi-campus systems, tuition hikes in recent years have far exceeded the national average. Meanwhile, universities slash classes, cut key research, and rely even more on exploited and poorly paid part-time lecturers and graduate-student teaching assistants. Yet against whom, exactly, are these cash-strapped students demonstrating? After all, their college faculties are unionized, largely liberal, and sympathetic to their plight. Campus administrators likewise want more state money for universities. But, unlike the...
  • Exodus: California Tax Revenue Plunges by 22%

    03/13/2012 7:41:31 PM PDT · by Nachum · 92 replies
    Breitbart ^ | 3/13/12 | Chriss W. Street
    State Controller John Chaing continues to uphold the California Great Seal Motto of Eureka, i.e., 'I have found it'. But what Chaing is finding as Controller is that Californias economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011. (snip) California politicians seem delusional in their continued delusion that high taxes have not savaged
  • Governor, Union Agree on California Tax Plan

    03/14/2012 4:32:22 PM PDT · by bizlawnews · 12 replies
    SACRAMENTO, Calif., March 14 (LID) Democratic interests in California have reached a political agreement over dueling tax initiatives aimed at helping the state close a $9 billion budget deficit.
  • CBO Analysis: 2014 is When the Real Obamacare Excrement Will Hit the Fan

    03/14/2012 3:45:58 PM PDT · by Kaslin · 2 replies
    Rush ^ | March 14, 2012 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: The Congressional Budget Office says that Obamacare is gonna cost twice what he told us. The magic number for Obamacare was a trillion dollars. They had to keep that number under a trillion dollars in order to get it passed. I'm not gonna revisit why and I'm not gonna go back through all the details and the minutia and the arm twisting and the games they were playing to get Obamacare passed because they eventually got it passed. They tried toying around with the idea "deeming" it to have been passed, not even voting on it, a...
  • OMalley seeks support for Maryland gas tax hike

    03/14/2012 4:45:44 AM PDT · by Tolerance Sucks Rocks · 17 replies
    The Washington Times ^ | March 13, 2012 | David Hill
    ANNAPOLIS Gov. Martin O'Malley will go before House and Senate committees Wednesday and ask them to raise the states gas tax, but he might get drowned out by the talk from constituents back in lawmakers home districts. Mr. O'Malley, a Democrat, has clung to the proposal in recent weeks even as skepticism of the plan has mounted in the face of rising gas prices and persistent objections from the public. The governor says the tax increase is a necessary investment in the states congested, too-long-ignored road and transit infrastructure. But with gas prices climbing toward $4 a gallon, leading...
  • Gingrich Denies Splitting GOP Votes

    03/13/2012 9:03:29 PM PDT · by Halfmanhalfamazing · 141 replies · 1+ views
    Obama's SuperPac ABC News ^ | March 13th, 2012 | Newt Video
    Newt Gingrich says, "Between us, Santorum and I are stopping Romney."
  • Gov. Sandoval supports extending 2009 tax hike to avoid budget cuts

    03/13/2012 5:53:01 PM PDT · by redreno · 2 replies
    Las Vegas Sun ^ | Tuesday, March 13, 2012 | 12:39 p.m. | By Anjeanette Damon
    Gov. Brian Sandoval said today he will propose continuing the 2009 tax increase to avoid further cutting education and other services when he builds his budget for the next biennium. Sandovals stance is in sharp contrast to his budget approach two years ago, when he vowed he would allow the 2009 tax increase to expire as planned. Sandoval ultimately included that revenue when a Nevada Supreme Court decision threw into question more than $600 million in local government funds he had planned to use to plug the budget hole. But Sandoval said he doesnt view the extension of the sunsets...
  • Texas Shows That the Size of Government Matters

    03/13/2012 10:17:47 AM PDT · by 92nina · 10 replies
    ATR ^ | 2012-03-12 | Patrick Gleason
    The Texas Public Policy Foundation recently updated a key chart from their 2010 paper, Texas vs. California: Economic Growth Prospects for the 21st Century.TPPF Vice President of Research Bill Peacock on the charts importance: The chart shows that Texas has much lower government spending as a percentage of the private economy than the U.S. or our largest competitor, California. In other words, Texas generally imposes a lower spending burden on it citizens, which translates into lower taxes. But a low spending burden isnt a constant in Texas. The chart also shows that Texas spending burden has increased at certain times....
  • California's Greek Tragedy

    03/13/2012 6:18:37 AM PDT · by SeekAndFind · 20 replies
    Wall Street Journal ^ | 03/13/2012 | By MICHAEL J. BOSKIN and JOHN F. COGAN
    Long a harbinger of national trends and an incubator of innovation, cash-strapped California eagerly awaits a temporary revenue surge from Facebook IPO stock options and capital gains. Meanwhile, Stockton may soon become the state's largest city to go bust. Call it the agony and ecstasy of contemporary California. California's rising standards of living and outstanding public schools and universities once attracted millions seeking upward economic mobility. But then something went radically wrong as California legislatures and governors built a welfare state on high tax rates, liberal entitlement benefits, and excessive regulation. The results, though predictable, are nonetheless striking. From the...
  • The taxman cometh

    03/12/2012 1:13:43 PM PDT · by trappedincanuckistan · 9 replies
    Human Events ^ | March 12, 2012 | Grover Norquist
    President Obama talks a lot about raising taxes on millionaires and billionaires, but most of the tax hikes mentioned below fall on households making $250,000 per year or less. Even raising the very top rate, something Obama has been pushing during his entire public life, would be a tax increase on small employers and families with taxable income of around $400,000 in 2013. This is trickle-down taxation at work, and its coming to a middle income family near you.
  • As US Rakes Largest Monthly Deficit In History, 2012 Tax Revenues Net Of Refunds Trail 2011

    03/12/2012 12:51:28 PM PDT · by Zakeet · 13 replies
    Zero Hedge ^ | March 12, 2012 | Tyler Durden
    A few days ago we noted that based on preliminary data, the February budget deficit would hit $229 billion (yes, nearly one quarter of a trillion in one month, about where real Greek GDP is these days) - the largest single monthly deficit in history. Unfortunately, this number was low: the final February deficit was just released and the actual print is $231.7 billion. It also means that in the first 5 months of the fiscal year, the US has raked up $580 billion in deficits, oddly matched by $727 billion in new debt issuance, 25% more new debt issued...
  • Pet Pigs and Carrier Pigeons Just a Few of the Craziest Tax Deductions

    03/11/2012 1:03:26 PM PDT · by nickcarraway · 9 replies
    WHPTV ^ | 3/09
    It's tax time again and people are going to drastic measures to pay the least amount possible. CNN Money recently compiled a list of the craziest deductions accountants have ever seen. These are some examples that actually worked. Two Phoenix-area business men got a deduction by claiming they only communicate by carrier pigeon. An exotic dancer was allowed to claim fake eyelashes, tanning and teeth whitening as job expenses. Another businessman was able to write off having a security dog travel with him to protect important documents. While these deductions did work, all the people involved received advice from a...
  • Forbes List: JK Rowling Fortune Under Vanishing Spell

    03/10/2012 6:19:44 PM PST · by nickcarraway · 17 replies
    The Telegraph ^ | 07 Mar 2012 | Rosa Prince
    JK Rowling, the Harry Potter author, has dropped out of the world's exclusive billionaires' club as a result of Britain's high tax regime, the Forbes magazine rich list disclosed on Wednesday.Having been feted as one of the world's richest women in 2011, she saw her fortunes depleted to such an extent that she is no longer a dollar billionaire, meaning she has less than 640 million in the bank. The decline in the spending power of Britain's rich emerged as the global number of billionaires rose to 1,226, and their combined wealth went up to a record $4.6 trillion (2.9...
  • Tobacco Tax Hikes Curb Teen Smoking, Government Report Says

    03/09/2012 5:53:59 PM PST · by bizlawnews · 25 replies
    WASHINGTON, March 9 (LID) A key to keeping American youths from starting to smoke cigarettes is increasing excise taxes on tobacco products, the U.S. Surgeon Generals Office said in a new report.
  • Buffett's Private Jet Company Countersued By US Gov Over Taxes [ He rejects even the Bush Rates ]

    03/09/2012 1:50:28 PM PST · by NoLibZone · 10 replies
    business insider ^ | March 9 2012 | Linette Lopez
    One of Warren Buffett's Berkshire Hathaway holdings, NetJets (a private aircraft company), is being countersued by the U.S. government for at least $302 million in taxes and penalties, Bloomberg reports. This story is bound to attract some attention, since Warren Buffett has been so outspoken about every American paying their fair share of taxes. And it's a really hot headline to be sure but there's a little more to the story. Notice, the U.S. government is counter suing. Back in November, Bloomberg also reported that NetJets was suing the U.S. government for excise taxes and penalties levied against the...
  • Study: County firefighters average compensation dips to $175,000 from $189,000

    03/08/2012 5:58:18 PM PST · by redreno · 21 replies
    Las Vegas Sun ^ | Thursday, March 8, 2012 | 4:18 p.m. | By Joe Schoenmann (contact)
    A new employee compensation study by Clark County administrators shows average firefighter compensation dipped to $175,000 in 2011 from about $189,000 in fiscal year 2010. Almost all of the decline stems from a drop in overtime pay to firefighters. During the last two years, overtime compensation for firefighters fell from $17.4 million in 2009 to $10.5 million in 2011. In 2009, overtime made up 24 percent of a firefighters' wages; in 2011, it made up 15 percent.
  • Speaking of high-speed rail How do you like government as transformer?

    03/08/2012 10:43:26 AM PST · by landsbaum · 10 replies
    The Los Angeles Times has a news story today about the Moonbeam Express, as we like to call it. Sometimes known as the California High-Speed Rail. The Times sub-headline says: The high-speed rail line would transform California lifestyles for the better, backers say. We couldnt have said it better. There, in one concise sentence, is the problem. . . The problem with that is the trains backers are almost exclusively agents of your government, a coercive group that doesnt persuade, it, well, coerces. The government wants to transform your lifestyle. . .
  • Marylands doomsday budget used as club

    03/07/2012 8:13:12 PM PST · by Tolerance Sucks Rocks · 7 replies
    The Washington Times ^ | March 6, 2012 | David Hill
    ANNAPOLIS State budget analysts Tuesday suggested nearly $800 million in potential cuts as part of a doomsday budget that Senate leaders have vowed to consider if lawmakers cannot agree on a mix of cuts and revenue increases in this years spending plan. The analysts briefed the Senate Budget and Taxation Committee on the reductions, which include cuts to education and health services, elimination of 500 state jobs and more than $300 million in cuts of local aid to counties. Senate President Thomas V. Mike Miller Jr. said lawmakers are determined to make more aggressive cuts than those in Gov....
  • Obama's three point plan for Saving the Country(getting re-elected)

    03/07/2012 7:27:45 AM PST · by sickoflibs · 10 replies
    Obama talking points via SOL | 3/7/2012 | sickoflibs
    Step 1 : Raise taxes on ‘the rich’ Step 2 : Raise taxes on ‘the rich’ again Step 3 : Raise taxes on ‘the rich’ again Plan Details : Problem 1 : Not enough jobs Solution : Raise taxes on ‘the rich’ Problem 2 : Massive deficit and national debt Solution : Raise taxes on ‘the rich’ Problem 3 : Rising Health care premiums Solution : Raise taxes on ‘the rich’ Problem 4 : Possible conflict between Iran and Israel Solution : Raise taxes on ‘the rich’ Problem 5 : Endless war in Afghanistan with no victory in sight Solution...