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Keyword: taxes

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  • Obama’s Second-Term Taxes

    04/15/2012 3:21:47 PM PDT · by Hojczyk · 6 replies
    Dick Morris.Com ^ | April 10,2012 | Dick Morris
    How will he tax us? Let us count the ways: • Most basic, of course, will be an increase in tax rates. Those paying 33 percent will now pay 36 percent. People paying 35 percent will now pay 40 percent. Most people accept and expect that Obama will raise these brackets if he is reelected. But they don’t realize what else he will do. • As he advocated in the 2008 campaign, he will eliminate the ceiling on wages that must be taxed for Social Security. Currently, wages are taxed at 6.2 percent (now, temporarily, at 4.2 percent) up to...
  • With lax oversight, mismanaged Oregon towns veer toward insolvency

    04/15/2012 3:56:27 PM PDT · by redreno · 54 replies
    Oregonlive.com ^ | 04/15/2012 | By Rachel Stark
    When Tiffany Couch's phone rings, it often means trouble for another Oregon city. Last year she was called to Oakridge, a Lane County timber town of about 3,700 people that in two years ran through $1 million in reserves. She scoured the city's books and interviewed staff in search of fraud or some explanation for the town's financial mess. Couch issued a report of her findings - error-racked budgets, sloppy bookkeeping, overspending - along with her best advice. Then she was off. Her next client was waiting 130 miles north. Molalla. The two small towns, Couch learned, share remarkable similarities....
  • President and Billionaire Agree on Taxes

    04/15/2012 3:49:38 PM PDT · by John Semmens · 8 replies
    Semi-News/Semi-Satire ^ | 14 April 2012 | John Semmens
    Both President Barack Obama and billionaire investor Warren Buffett agree that they both ought to be taxed more. Both currently have the option of paying more than they owe. However, both decline to do so. “While it’s true that I, or any other taxpayer, for that matter, could voluntarily contribute more of his or her income to the government, that’s not the point,” the President insisted. “Voluntary contributions leave the discretion up to the individual. Whether a person paid more would be a matter of personal choice.” “What I am trying to establish is the principle under law that certain...
  • Portland Police Bureau budget heading into the red, so cuts are coming; but where?

    04/15/2012 3:41:53 PM PDT · by redreno · 9 replies
    Oregonlive.com ^ | 04/13/2012 | By Maxine Bernstein,
    The Portland Police Bureau is expected to end the fiscal year in the red, overspending its $169 million budget by $3.42 million. The largest drivers are nearly $2 million in Occupy Portland policing costs; more retirements (26 so far this fiscal year), bringing larger sick leave and vacation payouts; and cash payouts to officers for earned holiday compensatory time. As a result, the bureau this spring has asked for additional one-time funds to plug the budget hole.
  • Winning the War Against Women The marriage tax and other obstacles to economic progress.

    04/15/2012 3:18:25 PM PDT · by redreno · 3 replies
    Wall Street Journal ^ | 04/13/2012 | unknown
    The Democrats have found their kind of war. It's the "war against women" they have conjured for the Obama Presidential campaign run. Should be fun, but don't look for any of the combatants to speak for the realities of today's women. Still, there's an opportunity here for Mitt Romney, if he'll seize it. The White House has wasted little time capitalizing on Mr. Romney's perceived weakness among women. Polls show the President with a 20-point advantage over the Republican with women voters. Team Obama is hoping to use the recent fight over mandated insurance coverage for contraception to broaden the...
  • ‘Don’t Let It Fester’: Romney’s Tax Return Delay Could Bode Badly [six-month extension]

    04/15/2012 1:42:50 PM PDT · by Cincinatus' Wife · 37 replies
    WTMA The Big Talker ^ | April 15, 2012
    NEW YORK) -- After President Obama released his 2011 tax returns Friday, the pressure has been mounting for his Republican rival Mitt Romney to do the same. The day after the president put out his tax information, Romney filed for a six-month extension on his own taxes, a move that Wall Street Journal editorial page editor Paul Gigot warned against Sunday during the “This Week” roundtable. Gigot cautioned Romney not to “let it fester.” “I would have gotten the tax returns out three or four months ago or six months ago or a year ago,” Gigot said. “I don’t think...
  • What effect would proposed tax increases really have?

    04/15/2012 7:35:01 AM PDT · by SmithL · 8 replies
    Sacramento Bee ^ | 4/15/12 | Dan Walters
    Over the coming months of gestation about taxation, California voters will be inundated with claims, counterclaims and other forms of propaganda. We still don't know how many major tax proposals will be on the November ballot. It'll be at least one, but whether it's the one that Jerry Brown, other Democratic politicians and labor unions want, or the one that civil rights attorney Molly Munger and the PTA want, is still unknown. Most likely, it'll be both. Brown, having merged his original tax proposal with one pushed by a left-wing coalition, now wants to hike sales taxes by a quarter-cent...
  • Lionel Richie, Pamela Anderson among tax scofflaws

    04/15/2012 7:04:48 AM PDT · by South40 · 26 replies
    AP (Yahoo News) ^ | 4/14/2012
    LOS ANGELES (AP) — Pamela Anderson and Lionel Richie owe the government money. California tax authorities said Anderson owes $524,241 in personal income taxes. The Franchise Tax Board included the "Baywatch" star on a list of the state's 500 biggest income-tax delinquents posted Friday.
  • Obama Is The Best Friend Of The 1%

    04/15/2012 7:30:15 AM PDT · by Texas Eagle · 4 replies
    Chriss Street and Co. ^ | 4/12/12 | Chriss W. Street
    President Obama doesn’t need to campaign for financial support from the highest 1% of income earners, his economic policies have already won their financial backing! During the Great Recession the top 1% sufferred a lower percentage decline in income than during the Bush Recession of 2000 to 2002. Then during the 2009 to 2010 economic expansion the top 1% captured a staggering 93% of all income gains.
  • Jesus Talks Taxes - Vanity

    04/15/2012 6:12:14 AM PDT · by TruthBeforeAll · 5 replies
    The Bible | 80–90 AD | Matthew
    When they had come to Capernaum, those who received the temple tax came to Peter and said, “Does your Teacher not pay the temple tax?” He said, “Yes.” And when he had come into the house, Jesus anticipated him, saying, “What do you think, Simon? From whom do the kings of the earth take customs or taxes, from their sons or from strangers?” Peter said to Him, “From strangers.” Jesus said to him, “Then the sons are free. Nevertheless, lest we offend them, go to the sea, cast in a hook, and take the fish that comes up first. And...
  • The Taxman Cometh...Extension information

    04/15/2012 5:35:27 AM PDT · by nuconvert · 1 replies
    me
    Just thought I'd pass along some information I heard about just recently. For anyone who owes money to the IRS for 2011, & has been unemployed for at least 30days in 2011 or in these past few months of 2012, there is a special Extension form that will allow you to postpone paying for 6 months. It's form #1127-A, and it's called "Application for Extension of Time for Payment of Income Tax for 2011 Due to Undue Hardship". This is different from a normal extension, in that you don't have to pay anything up front. The late payment fee is...
  • Federal employees owe $1.03 billion in unpaid taxes

    04/14/2012 4:30:07 PM PDT · by Lorianne · 23 replies
    Washington Post ^ | 23 January 2012 | Ed O'Keefe
    Congressional staffers owed about $10.6 million in unpaid taxes in 2010, a slight increase from the previous year and a growing slice of the roughly $1 billion owed by federal and postal workers nationwide. The figures come as Republican efforts to pass legislation allowing federal agencies to fire tax delinquent federal employees have slowed and as the White House continues to crack down on improper payments made by agencies to delinquent government contractors and federal beneficiaries. About 98,000 federal, postal and congressional employees owed $1.03 billion in unpaid taxes at the end of fiscal 2010, according to records provided by...
  • Obama says US can't afford tax cuts for richest

    04/14/2012 9:23:03 AM PDT · by Free ThinkerNY · 23 replies
    Associated Press ^ | April 14, 2012
    WASHINGTON—President Barack Obama says the nation can't afford to keep giving tax cuts to the wealthiest, "who don't need them and didn't even ask for them." Obama is using his weekly radio and Internet address to urge Americans to ask their member of Congress to support the "Buffett Rule," which is named after billionaire investor Warren Buffett, who says he pays a lower tax rate than his secretary.
  • Played for sucker: Biden's empty rhetoric

    04/14/2012 5:14:47 AM PDT · by billorites · 9 replies
    Manchester Union Leader ^ | April 14, 2012 | Editorial
    Vice President Joe Biden, bless his heart, tried hard to explain the White House's position on “fairness” during a stop in Exeter on Thursday. He blew so much hot air, the U.S.S. Constitution could have set sail. “We're not supposed to have a system with one set of rules for the wealthy and one set of rules for everyone else,” he said. Yet the Buffet Rule Biden was in town to promote creates a separate tax for millionaires that no one else has to pay. It is the definition of creating one set of rules for the wealthy and another...
  • Obama: Buffett Rule Will Boost ‘Growth’(!!??)(A D*mn*ble Lie)

    04/14/2012 7:03:59 AM PDT · by lbryce · 15 replies
    The Hill ^ | April 14, 2012 | Meghashyam Mali
    President Obama used his weekly address to continue pressuring lawmakers to pass his "Buffett Rule” proposal, saying the measure would make the tax code more fair and help fund needed investments to grow the economy. "As many Americans rush to file their taxes this weekend, it’s worth pointing out that we’ve got a tax system that doesn’t always uphold the principle of everyone doing their part," Obama said in the address posted online Saturday. "This is not just about fairness, this is also about growth,” he added. “It’s about being able to make the investments we need to strengthen...
  • Budget compromise near, Md. legislators say

    04/14/2012 1:13:28 AM PDT · by Tolerance Sucks Rocks · 3 replies
    The Washington Times ^ | April 12, 2012 | David Hill
    Maryland Gov. Martin O'Malley said Thursday he wants to call a special session for lawmakers to raise taxes and reverse $500 million in planned budget cuts but is waiting on House and Senate leaders to meet beforehand and work out a unified plan. During a day in which he conducted several radio and television interviews, the Democratic governor said he would call legislators back to Annapolis “a half-hour from now” but needs assurances that a special session will not include the bickering and gamesmanship that caused a revenue package to fall through Monday on the General Assembly’s last day, triggering...
  • Obama Family Tax Shelter First family transfers wealth, avoids taxes

    04/13/2012 10:14:00 PM PDT · by NoLibZone · 19 replies
    freebeacon.com ^ | April 13 2012
    President Obama and his wife, Michele, gave a total of $48,000 in tax-free gifts to their daughters, according to tax records made public on Friday. The president and his wife separately gave each daughter a $12,000 gift under a section of the federal tax code that exempts such donations from federal taxes. There is nothing illegal about the president’s taking advantage of this tax shelter, but it does raise eyebrows given that he has lamented the myriad tax exemptions used by the wealthy—“millionaires and billionaires” like himself—to pay less in taxes. He has yet to propose a comprehensive plan to...
  • French 75 pct tax rate would last years -Hollande aide

    04/13/2012 5:47:17 PM PDT · by TigerLikesRooster · 20 replies
    Reuters ^ | 04/10/12
    French 75 pct tax rate would last years -Hollande aide PARIS, April 10 | Tue Apr 10, 2012 11:26am EDT (Reuters) - The 75 percent tax rate that French presidential frontrunner Francois Hollande wants to slap on income over 1 million euros will be kept in place for many years, in line with the broader debt reduction effort, a top adviser to the Socialist candidate said on Tuesday. In an interview with Reuters, Hollande adviser Michel Sapin said the 75 percent rate was more a symbolic measure than a big moneyspinner for the state but should stay in place for...
  • Fair Shot, Fair Share and a Glass of Algae

    04/13/2012 6:43:57 PM PDT · by NaturalBornConservative · 3 replies
    Natural Born Conservative ^ | April 12, 2012 | Larry Walker, Jr.
    * By: Larry Walker, Jr. *“Lake Erie is facing its worst toxic algae bloom since the 60's and somehow it is going unnoticed...” ~ JoeOH111 *According to Mr. Obama, you don’t have a fair shot right now, and it’s all because millionaires aren’t paying enough income tax. If millionaires would just give the federal government its fair share, then you, I, and everyone else would have a fair shot…, and a glass of algae.What, pray tell, is a fair shot? The best definition I can surmise is “a lawful chance at odds.” But don’t we all have this already?...
  • Obama's Secretarial Tax Fallacy

    04/13/2012 5:29:46 PM PDT · by NaturalBornConservative · 30 replies
    Natural Born Conservative ^ | April 13, 2012 | Larry Walker, Jr.
    By: Larry Walker, Jr.There's no way Obama's secretary paid a higher effective tax rate than the Obamas. You don't believe it? Are income taxes such a mystery that we can't find out? Well, let's run the numbers and see. According to Jake Tapper of ABC News, Mr. Obama released his 2011 federal income tax today, with he and his wife reporting an adjusted gross income of $789,674. The Obamas paid $162,074 in total tax – an effective federal income tax rate of 20.5%.The White House also reported that President Obama’s secretary, Anita Decker Breckenridge, makes $95,000 a year. White House...