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Keyword: taxes

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  • An Uncivil Income Tax System

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

    04/05/2012 5:08:25 AM PDT · by Tolerance Sucks Rocks · 14 replies
    The Baltimore Sun ^ | April 3, 2012 | Michael Dresser and Annie Linskey
    Gov. Martin O'Malley says he still hopes to convince the legislature to raise money for highway and transit projects — possibly by adding another penny to Maryland's six-percent sales tax and dedicating the extra revenue to transportation. In an interview with The Baltimore Sun, O'Malley conceded that his initial proposal to apply the sales tax to gasoline is dead in the General Assembly. But he said an alternative would be a delayed implementation of that proposal, with the sales tax not being applied until gas prices fell to a certain level. A second option, he said, would be to raise...
  • New train promised to be cheaper, sooner, longer, slower

    04/04/2012 7:55:42 AM PDT · by Mark Landsbaum · 16 replies
    The Orange County Register ^ | 4-4-2012 | The Orange County Register Editorial Board
    Desperate to spend billions rather than allow taxpayers to keep their money, the California High-Speed Rail Authority boasted Monday that it has cut costs, scaled back and speeded up the construction schedule of a train that should never be built. Like all government boasts, it isn't what it appears to be...
  • Maryland bills still to be settled: Budget, wind, casinos

    04/03/2012 9:35:28 PM PDT · by Tolerance Sucks Rocks · 2 replies
    The Washington Times ^ | April 2, 2012 | David Hill
    ANNAPOLIS — With just a week left in the 2012 General Assembly session, lawmakers have hundreds of bills left to consider. But only a handful of proposals will get most of their attention. The House and Senate still must approve a joint version of the state budget, which they are required to do before adjourning Monday. Legislators also will consider bills that would implement offshore-wind energy and set up a referendum on whether to allow table games and a new casino in Prince George’s County. A conference committee of House and Senate representatives got to work Monday on hashing out...
  • Americans More Embarrassed To Be Caught Shoplifting Or Littering Than Cheating On Their Taxes

    04/03/2012 6:22:12 PM PDT · by SeekAndFind · 30 replies
    Forbes ^ | 03/30/2012 | Janet Novack
    A new survey suggests Americans consider cheating on their taxes more socially acceptable than shoplifting, drunk driving or even throwing trash out the window of a moving car. The Shelton Group, a green marketing firm based in Knoxville, Tenn. had 1,105 Americans complete on-line surveys in an effort to find out what kind of messages will make them adopt more environmentally friendly and energy efficient products and behaviors. Towards the end of the survey, the respondents were asked directly: “How embarrassed would you be if someone you knew found out that you……” and then read a list of presumably undesirable...
  • Brazil tax cuts, credits throw lifeline to industry

    04/03/2012 12:42:31 PM PDT · by Oldeconomybuyer
    Reuters ^ | April 3, 2012 | By Alonso Soto and Luciana Otoni
    Brazil's government unveiled a new package of tax cuts, low-cost credits and other relief for ailing industries on Tuesday, seeking to resurrect a once-booming economy struggling to regain momentum. The measures were announced the same day that fresh data showed signs of life in Brazilian industry after a prolonged slump. Analysts, though, cautioned that the latest policies fail to tackle the overall tax burdens, heavy bureaucracy and lack of investment that have long held back Brazil. The government said it will cut payroll taxes to spur hiring in sectors as varied as textiles and plastics to the automotive industry. The...
  • The White House's Global Tax Gaffe

    04/02/2012 10:24:29 AM PDT · by 92nina · 3 replies
    ATR ^ | 2012-03-30 | Hugh Johnson
    On Sunday, Japan’s corporate tax reform kicks in and the United States will have the highest corporate tax rate in the world. Including average state taxes the corporate tax rate in the United States reaches an astounding 39.2 percent, much higher than the OECD international average marginal tax rate of 25.5 percent. Obama’s own former Council of Economic Advisers chairman, Austan Goolsbee, documented firm sensitivity to taxation. Goolsbee’s paper, published at the University of Chicago, highlighted increased deadweight loss as a significant adverse consequence of corporate taxation. Simply put, taxes create inefficiencies while giving governments more money to spend. Businesses,...
  • Alabama nightclub sponsors “Food Stamp Friday” party

    03/30/2012 11:46:18 AM PDT · by rightwingintelligentsia · 28 replies
    HotAir ^ | March 30, 2012 | Tina Korbe
    Flaunting food stamps almost seems to be a trend. First, Mr. EBT released his now-infamous rap. Shortly thereafter, girls followed suit with their own version. Now, a night club in Montgomery, Ala., is hosting its very own “Food Stamp Friday” party. On April 6, the Rose Supper Club in North Montgomery will offer a discounted cover charge — and free shots — to any patron who flashes a food stamp card at the door. Not surprisingly, some Montgomery residents aren’t happy about the way the party seems to glamorize a life on government assistance.
  • Fore! King Putt Obama goes golfing for a record 93rd time as wife and kids party in Las Vegas

    04/01/2012 5:08:04 PM PDT · by opentalk · 18 replies
    Fire Andrea Michelle ^ | April 1, 2012
    I guess the weather is finally warm enough on the east coast for King Putt Obama to resume hitting the links. After all, there’s nothing really happening in this country or elsewhere that could affect this country. It’s not like we have skyrocketing gas prices, a lousy economy, Iran getting a nuclear weapon or anything like that. While Michelle Obama took the kids to Las Vegas to party it up on the American tax payer’s dollar (just a week after the oldest daughter went on a secret vacation to Mexico with 25 secret service agents on 12 friends) Hussein Obama...
  • US now has highest corporate tax rates in the world (Not an April Foll's joke)

    03/31/2012 6:15:49 PM PDT · by SeekAndFind · 5 replies
    American Thinker ^ | 03/31/2012 | Rick Moran
    This OECD chart (bottom of the page) published by Heritage says it all: ____________________________________ The U.S. rate is well above the 25 percent average of other developed nations in the Organization for Economic Cooperation and Development (OECD). In fact, the U.S. rate is almost 15 percentage points higher than the OECD average. This gaping disparity means every other country that we compete with for new investment is better situated to land that new investment and the jobs that come with it, because the after-tax return from that investment promises to be higher in those lower-taxed nations. Our high rate also...
  • Obama 862 Billion Dollar Stimulus Package – Three Years Later.

    03/31/2012 4:21:21 PM PDT · by Driftwood1 · 14 replies ^ | 3-28-12 | Danielle Sherrill
    Obama 862 Billion Dollar Stimulus Package – Three Years Later. February, 2012 marked the third year anniversary of Obama’s stimulus package. Has the stimulus delivered on Obama’s promises? Obama 862 Billion Dollar Stimulus Package – What was the Stimulus for? The stimulus, also known as the American Recovery and Reinvestment Act of 2009, is an economic stimulus plan that was signed into law by President Barack Obama on February 17, 2009. The main objectives of the stimulus were to 1) save and create jobs almost immediately; and 2) provide temporary reliefe programs for those most impacted by the recession and...
  • Obama 862 Billion Dollar Stimulus Package – Three Years Later.

    03/31/2012 4:20:53 PM PDT · by Driftwood1 · 3 replies ^ | 3-28-12 | Danielle Sherrill
    Obama 862 Billion Dollar Stimulus Package – Three Years Later. February, 2012 marked the third year anniversary of Obama’s stimulus package. Has the stimulus delivered on Obama’s promises? Obama 862 Billion Dollar Stimulus Package – What was the Stimulus for? The stimulus, also known as the American Recovery and Reinvestment Act of 2009, is an economic stimulus plan that was signed into law by President Barack Obama on February 17, 2009. The main objectives of the stimulus were to 1) save and create jobs almost immediately; and 2) provide temporary reliefe programs for those most impacted by the recession and...
  • Obama calls on Congress to pass 'Buffett Rule' tax

    03/31/2012 10:13:58 AM PDT · by Free ThinkerNY · 17 replies
    Associated Press ^ | March 31, 2012 | JIM KUHNHENN
    WASHINGTON (AP) -- President Barack Obama is calling on Congress to increase taxes on millionaires, reviving a proposal he first pitched last September that aims to draw sharp election-year lines between the president and the Republican opposition. The plan, scheduled for a vote in the Democratic-controlled Senate on April 16, stands little chance of passing in Congress.
  • (No April Fools) The U.S. Is Now No. 1 - In Corporate Tax Rates

    03/31/2012 11:40:49 AM PDT · by raptor22 · 15 replies
    IBD editorials ^ | March 11, 2012
    Taxes: As the president complains once again that oil companies are getting unfair tax breaks, the U.S. passes Japan as the leader in business taxes. Workers, investors and entrepreneurs will bear the cost. On April 1, Japan will cut its corporate tax rate to 36.8% from 39.5%. This includes a 10% surtax that will expire in 2014. As it does, the U.S. will officially have the highest corporate tax rate in the world, with average combined federal and state profit levies of 39.2%. And, no, this is not an April Fools' joke. The news comes after President Obama once again...
  • Jerry Brown wants to tax billionaire Albanians – for the children

    03/30/2012 3:00:09 PM PDT · by landsbaum · 5 replies
    Have you heard the latest? Gov. Jerry Brown, that man of the common people, has a plan to save California by taxing only billionaires in Albania. To raise money for the children’s education of course. It’s pure political genius. None of us is a billionaire, or Albanian. And who doesn’t want to help the kiddies? It’s also not true. And it’s not even April Fool’s Day yet. But Brown has advanced something nearly as fraudulent . . .
  • Biden: "We Want To Create A Global Minimum Tax" (video)

    03/30/2012 9:13:25 AM PDT · by i88schwartz · 24 replies
    RealClearPolitics ^ | March 30, 2012 | RealClearPolitics
    "For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%," Vice President Joe Biden said at a manufacturing plant in Davenport, Iowa this week. "We want to create a global minimum tax, because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home," Biden said at a campaign event.
  • Conservative Movement United Against Simpson-Bowles Budget Plan

    03/30/2012 10:29:29 AM PDT · by 92nina · 1 replies
    ATR ^ | 2012-03-30 | Ryan Ellis
    The House this week rejected the "Simpson-Bowles" budget by a 382-38 margin. Every major conservative group weighed in against the measure (full text, summary), which raises taxes over the next decade by $2 trillion, and is riddled with phony spending cut gimmicks and double-counting. Below is a summary of the united conservative movement opposition to this budget: Americans for Tax Reform Linked above Americans for Prosperity Dear Representatives, On behalf of the more than 1.9 million Americans for Prosperity activists in all 50 states, I strongly urge you to support both Chairman Ryan’s budget resolution and the Republican Study Committee...
  • IRS Already Gearing Up for Health-Care Crackdown (more IRS intrusions on taxpayer privacy)

    03/30/2012 6:37:07 AM PDT · by SeekAndFind · 39 replies
    Fox Business News ^ | 03/30/2012 | Elizabeth MacDonald
    The rest of the country may be waiting for the U.S. Supreme Court to decide the fate of President Barack Obama’s health-care law, but the Internal Revenue Service is wasting no time. It wants to add new agents to hunt down tax cheats and still plans to spend $303.5 million building a system to oversee the effects of the health law even though its future is unclear. As for the new IRS workers, the Government Accountability Office said the total will be about 4,500, with nearly 4,000 (3,997) slated for enforcement. On the $303.5 million for health care, the GAO...
  • False Advertising? The Governor’s ‘Millionaire’ Tax’

    03/29/2012 8:30:44 PM PDT · by cakid1 · 3 replies
    cbs47 ^ | 3-29-12 | cakid1
    False Advertising? The Governor’s ‘Millionaire’ Tax’ Part of the Governor Jerry Brown’s new push for higher taxes this November will reportedly include the slogan ‘ Millionaires’ Tax.’ But some wonder if that’s accurate. In fact the Governor’s new plan raises taxes on everyone. His new approach calls for raising the state sales tax – for everyone – for four years. The second part calls for raising the income tax rate if you make $250,000 per year - for seven years. Will Millionaires pay more too? You bet. Will ‘Thousandaires’ pay more too? You bet. Will someone making $10,000 per year...
  • No Subway $5 Footlongs In SF, 'Cost of Doing Business' Too High ($10.24 min wage)

    03/29/2012 6:41:19 AM PDT · by nhwingut · 21 replies
    NBC Bay Area ^ | 03/29/12 | Chris Roberts
    The catchy Subway sandwich shop jingle involving a variety of foot-long sandwiches available for $5 doesn't apply in San Francisco. [SNIP] Apparently, the city's new minimum wage, raised to $10.24 as of Jan. 1, make $5 footlongs an impossible business model.
  • Rising Gas Prices Take Toll On American Families

    03/29/2012 6:13:40 AM PDT · by radioone · 4 replies
    Investors Business Daily ^ | 3-27-12 | JACK RAFUSE
    With elections less than eight months away, rising prices at the pump are threatening to derail a tenuous economic recovery. And President Obama, to mitigate political fallout, embarked this month on a four-state swing to promote his "all of the above" energy strategy, a broadly supported approach to increasing domestic development of natural gas, solar, wind, hydro, nuclear and yes, oil. But if the president has begun to or at least talk about some moderate sensibilities on domestic energy production, he hasn't changed a bit on tax policy. Every policy and campaign speech the president has given since taking office,...
  • Laffer’s new book: Good, but a study in the obvious.

    03/28/2012 5:15:13 PM PDT · by landsbaum · 7 replies
    We’ve finished economist Arthur Laffer’s new book, Eureka! How to Fix California, which he delivered to the Register this morning in person while visiting with our Editorial Board. It’s a good. But in a sense it’s a wonder why people have to devote countless hours of research to study such stuff, when the conclusions are so intuitively obvious. In short . . .
  • Eureka! The fix California needs is found…

    03/28/2012 11:30:08 AM PDT · by landsbaum · 14 replies
    California need not drown in debt and economic failure. So says Arthur Laffer, the happy advocate of a flat tax for California to solve the Golden State’s ills. We are inclined to favor a flat tax, as we’ve intimated and bellowed from time to time. And Laffer’s new book, Eureka! How to Fix California, is a blueprint for replacing the existing state and local taxes with a single, 5.8-percent flat income tax on personal unadjusted gross income. . .
  • Populist 'Free Gas' Bill Comes At A High Cost - Dems voucher plan would cost taxpayers $304 million

    03/28/2012 8:35:56 AM PDT · by MichCapCon · 18 replies
    Capitol Confidential ^ | 3/28/2012 | Tom Gantert
    State Representative George Darany would like to give every Michigan resident making $100,000 or less a state subsidy to help cover the cost of gas. Darany, a Democrat from Dearborn, introduced House Bill 5476 in March. According to Michigan Votes, the bill would “give individuals with annual incomes below $50,000 a per-vehicle fuel subsidy of $100, payable in the form of a ‘refundable’ state income tax credit. A $75 per vehicle subsidy could be claimed by those with incomes between $50,000 and $75,000, and a $50 per vehicle subsidy for incomes between $75,000 and $100,000.” Gas paid by their fellow...
  • The Real Sin of Sodom

    03/28/2012 8:52:15 AM PDT · by kathsua · 66 replies
    Town Hall ^ | March 28, 2012 | reasonmclucus
    I recently watched an old episode of my mom's favorite television show, the "Billy Graham Crusades". Dr. Graham surprised me with some of his comments about the Biblical city of Sodom. He said that greed was one of the sins of the people of Sodom. According to Ezekiel 16:49 - "Now this was the sin of your sister Sodom: She and her daughters were arrogant, overfed and unconcerned; they did not help the poor and needy." Many members of the Republican Party have a problem with this same sin. So why do Christians in the Republican Party encourage this sin...
  • Support grows for abolishing property tax in ND

    03/27/2012 7:48:32 PM PDT · by Razzz42 · 9 replies
    Minnesota Public Radio ^ | November 25, 2011 | by Dan Gunderson
    Moorhead, Minn. — Many Minnesota residents expect a bigger bill when their property tax statements arrive this month. But across the border, North Dakota residents are considering a proposal to make the state the first in the nation to abolish property taxes. Supporters gathered more than 28,000 signatures to put that question on the ballot next June. Backers of the measure say there's plenty of revenue to go around without property taxes. But local government officials say eliminating property tax would create chaos. That worries officials like Terry Traynor, assistant director of the North Dakota Association of Counties. "I'm fearful...
  • Gingrich hits O’Malley gas tax plan at Md. State House

    03/27/2012 12:19:58 PM PDT · by Cincinatus' Wife · 11 replies
    The Washington Times ^ | March 27, 2012 | David Hill
    ANNAPOLIS — Newt Gingrich visited the state capital on Tuesday to campaign for Maryland’s April 3 presidential primary. Mr. Gingrich toured the city during the morning and made a stop at the State House where he briefly addressed the Senate before meeting with a group of House Republicans. The former U.S. House speaker spoke with reporters afterward and spent much of the time defending his struggling presidential campaign. ....Mr. Gingrich said if Mr. Romney does not collect a majority by the June 26 Utah primary, he will challenge the former Massachusetts governor all the way to the Republican National Convention...
  • Bullet train will bleed California budget

    03/26/2012 12:45:12 PM PDT · by Mark Landsbaum · 5 replies · 6+ views
    The Orange County Register ^ | 3-25-2012 | The Orange County Register Editorial Board
    Voters approved $9.9 billion in bonds in 2008 to partially fund California's proposed $33 billion high-speed rail project. The price since has increased to as much as $118 billion. The completion date has been extended 12 years, to 2032. To use $3.3 billion in federal funds, train backers need legislative approve to sell $2.7 billion of the bonds. The Legislative Analyst says more than $700 million a year from the state's general fund would be needed to pay bond interest. Budget-strapped California should not pay for an initial 130 miles of track in the Central Valley that won't connect metropolitan...
  • Jerry Brown the chameleon – He’s whatever it takes

    03/26/2012 12:39:12 PM PDT · by Mark Landsbaum · 2 replies · 3+ views
    Some years ago none other than our own governor, Jerry Brown, advocated a flat federal income tax. Imagine that. And it was, Brown said, to be a 13-percent tax. One tax rate for every income earner. And a relatively low rate, at that. That was then. Today Brown has changed, it would appear. Like a chameleon, . . .
  • Strong Majority Backs Jerry Brown's Tax-Hike Initiative [64% OK On Sales Tax and Rich]

    03/25/2012 8:46:38 PM PDT · by Steelfish · 38 replies · 4+ views
    LATimes ^ | March 25, 2012 | Anthony York
    Strong Majority Backs Jerry Brown's Tax-Hike Initiative Sixty-four percent of those surveyed said they supported the measure that the governor hopes to place on the November ballot. It would hike the sales tax and levies on upper incomes to help raise money for schools and balance the state's budget. By Anthony York March 25, 2012 Reporting from Sacramento— California voters strongly support Gov. Jerry Brown's new proposal to increase the sales tax and raise levies on upper incomes to help raise money for schools and balance the state's budget, according to a new USC Dornsife/Los Angeles Times poll. Sixty-four percent...
  • MASSACRE! Australian Left records worst election result since Federation

    03/25/2012 3:16:01 PM PDT · by maddog55 · 32 replies · 2+ views
    Junk Science ^ | March 24, 2012 | by Editor
    Queensland has decisively rejected Labor, reducing them to a political rump which may not even achieve party status (10 or more seats in the new parliament). While State issues have strong influence in State elections this is a severe repudiation of Labor and its National policies – notably the despised carbon tax and the assault on State revenues through an additional profits tax on mining States’ main exports of coal and iron ore (mainly afflicting Western Australia, Queensland, New South Wales and South Australia). Watch for Federal Labor to blink and delay the proposed carbon tax until the next election...
  • President’s Tax Plan Targets Rich

    03/25/2012 11:48:46 AM PDT · by John Semmens · 12 replies · 2+ views
    Semi-News/Semi-Satire ^ | 24 March 2012 | John Semmens
    Labeling Wisconsin Republican Representative Paul Ryan’s budget proposal “a disaster for the middle class,” President Obama offered a plan that “will make the rich pay their fair share.” “It’s time for those who have a job, a car, a roof over their heads, and food on the table to step up and bear a bigger share of the costs of providing for those who don’t,” the President told a crowd of supporters at a campaign speech in Washington. “Those who have more than they need to live have an obligation to care for their fellow human beings. My plan helps...
  • California Tax Revenues Plunge; Businesses Exit "Taxifornia" in Droves

    03/25/2012 6:44:58 AM PDT · by SeekAndFind · 33 replies · 4+ views
    Mish's Global Economic Trend Analysis ^ | 03/24/2012 | 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. That is 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, or...
  • County hopes public opinion of firefighters improves before tax vote

    03/23/2012 4:46:46 PM PDT · by redreno · 4 replies · 1+ views
    Las Vegas Sun ^ | 3/23/2012 | By Joe Schoenmann (contact)
    Clark County and its firefighters union have frequently clashed in recent years. They’ve fought over firefighters’ compensation packages, which averaged $189,000 in fiscal year 2010; alleged abuse of sick leave, which some county officials said was used to boost overtime and retirement pay; and whether firefighters should be allowed to do charitable work while on the clock. The last round of contract negotiations between the two sides broke down and an independent arbitrator had to sort things out. The biggest fight yet for both sides, however — one that county administrators are starting to prepare for — will likely make...
  • Obamacare's Tax War on Women

    03/23/2012 2:51:15 PM PDT · by 92nina
    ATR ^ | 2012-03-20 | 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 five that most hurt women: Individual Mandate non-compliance excise tax. Under Obamacare,...
  • Obama’s Middle-Class Tax Pledge Shattered Two Years Ago Today

    03/23/2012 11:10:02 AM PDT · by 92nina · 1+ views
    ATR ^ | 2012-03-23 | John Kartch and Ryan Ellis
    President Barack Obama’s central campaign promise – a “firm pledge” against “any form of tax increase” on families making less than $250,000 per year – was broken two years ago today when he signed the Affordable Care Act into law. The healthcare law contains at least seven tax hikes that unquestionably violate Obama’s pledge. Documentation of Obama’s promise is as follows: Speaking in Dover, New Hampshire on Sept. 12, 2008, candidate Obama said: “I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income...
  • Remembering Proposition 187

    03/16/2012 3:41:30 PM PDT · by Pelham · 17 replies
    The Social Contract Press ^ | Winter 2011-2012 | Edwin S. Rubenstein
    Change is in the air. States from Arizona to Virginia have enacted laws cracking down on illegal immigration. Some target the immigrants; some target their employers. Some rely on local police to do the job; others require that employers use the federal e-Verify system to check the immigration status of employees. Many of these statutes have been challenged in court. Some have been put on hold while others — including an Alabama statute regarded as the most stringent of all — have been endorsed by federal appeals judges. These initiatives share a common goal: enforcement of federal immigration laws, something...
  • HOW TO RETIRE TAX FREE: Advice from a Retired National Radio Show Host

    03/22/2012 3:24:14 PM PDT · by geraldmcg · 11 replies ^ | 3-22-12 |
    Be one of the first to broadcast a never before told story on why millions of Americans can lose 40% or more of their retirement nest egg once they retire With 25 years as a nationally known radio talk show host, Jim Jorgensen can light up your phone lines and scare your listeners with how much money they can lose in their IRAs, 401(k)s or pensions once they retire. Jim’s not talking about the future – the future is here as millions of retirees already pay more for Medicare premiums and receive less in their Social Security retirement check. Suggested...
  • The Four Small Business Tax Hikes in Obamacare

    03/22/2012 2:15:32 PM PDT · by 92nina
    ATR ^ | 2012-03-22 | Ryan Ellis
    The jobs-killing Obamacare law contains 20 new or higher taxes on American families and employers. But before we get to the tax hikes, let's dispense with the fig leaf of "assistance" that small businesses are given to transition to costly Obamacare mandates. The law creates a "small employer health credit" through 2014 which theoretically allows a business to claim a credit for up to 35 percent of the cost of providing health insurance to employees. The problem is, the credit was written in such a Byzantine and confusing way that no small employers are actually taking advantage of it. In...
  • Current European Tax Rates (E-mail)

    03/22/2012 1:49:15 PM PDT · by wac3rd · 5 replies
    Email ^ | 1-1-11 | Unknown
    Current European Tax Rates United Kingdom Income Tax: 50% VAT: 17.5% TOTAL: 67.5% France Income Tax: 40% VAT: 19.6% TOTAL: 59.6% Greece Income Tax: 40% VAT: 25% TOTAL: 65% Spain Income Tax: 45% VAT: 16% TOTAL: 61% Portugal Income Tax: 42% VAT: 20% TOTAL: 62% Sweden Income Tax: 55% VAT: 25% TOTAL: 80% Norway Income Tax: 54.3% VAT: 25% TOTAL: 79.3% Netherlands Income Tax: 52% VAT: 19% TOTAL: 71% Denmark Income Tax: 58% VAT: 25% TOTAL: 83% Finland Income Tax: 53% VAT: 22% TOTAL: 75% If you've started to wonder what the real costs of Socialism are going to be...
  • Obama's tax plan: Top 1% would pay $109,000 more on average

    03/22/2012 7:53:57 AM PDT · by Oldeconomybuyer · 18 replies
    Yahoo! Finance ^ | March 22, 2012 | By Jeanne Sahadi
    Wealthy taxpayers would see a big jump in their tax bills under President Obama's latest budget proposal, according to a new independent analysis. In fact, those in the top 1% of income would see an average tax increase of nearly $109,000 in 2015, according to the Tax Policy Center. Nearly 63% of tax filers with incomes between $100,000 and $200,000 would see a larger tax burden. Overall, an estimated 16% of households would end up with lower tax bills under Obama's proposal, which was laid out last month in the president's 2013 budget.
  • Warren Buffett Seeks Dividend Tax Hikes—Whose Money Is It?

    03/22/2012 6:13:36 AM PDT · by SeekAndFind · 4 replies · 1+ views
    IBD ^ | 03/22/2012
    Ever since Warren Buffett observed that his tax rate is unfairly low, President Obama keeps finding ways to get mileage out of his friend's lament. One of the president's recent proposals is to dramatically increase the tax rate on corporate dividends for upper-income shareholders. It may seem that Buffett has no dog in this fight, since the company he runs, Berkshire Hathaway, pays no dividends anyway. But that's not the whole story. Before 2003, when dividends were taxed at much higher rates, companies like Berkshire had a handy rationale for holding on to their shareholders' money indefinitely, claiming this was...
  • 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. What’s 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 century’s 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...