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Keyword: taxes

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  • Fox News poll: 79 percent say all Americans should pay income taxes

    09/27/2012 4:45:47 PM PDT · by Jean S · 24 replies
    FoxNews ^ | 9/27/12 | Dana Blanton
    A large majority of likely voters believes all Americans should pay some federal income tax -- even if it is as little as one percent of what they make.     Seventy-nine percent say everyone should pay something, according to a Fox News poll released Thursday.  That includes 85 percent of Republicans, 83 percent of independents and 71 percent of Democrats. According to the IRS, last year approximately 41 percent of tax filers did not pay federal income tax.  The Tax Policy Center estimates that will increase to 46 percent this year.   Most voters (73 percent) are at least somewhat...
  • Tax Policy Center's Analysis of Romney's Tax Plan Inaccurate

    09/27/2012 11:58:43 AM PDT · by 92nina · 1 replies
    ATR ^ | 2012-09-26 | Rhett Brooks
    The Tax Policy Center (TPC) released a report in March of 2012 detailing the effects of the Romney tax reform plan on taxpayers. The conclusion reached by the Tax Policy Center stated that the Romney tax reform plan would cut taxes for high-income taxpayers and raise them for middle and lower-income earners. Since the report was released, President Obama and his team have ran with it and used it to undermine the credibility of Romney’s plan. Senior Analyst in Tax Policy at the Heritage Foundation, Curtis Dubay, released his rebuttal of the TPC report yesterday which revealed many of the...
  • Fact Check: Is Romney's tax rate really lower than yours?

    09/26/2012 8:10:50 PM PDT · by Brown Deer · 10 replies
    Fox News ^ | September 26, 2012 | Judson Berger
    President Obama's campaign, with a good dose of help from the media, is pushing a claim that millionaire Mitt Romney is taxed at a "lower rate" than someone making $50,000 a year. IRS data, though, shows that Romney's effective income tax rate -- that's what he pays as a percentage of his income once deductions and other benefits are factored in -- is actually far higher than what most Americans pay. Romney's rate in 2010 -- which was also about 14 percent -- was higher than what 97 percent of Americans pay.
  • Hey, Media, a $75K Mechanic Pays a Lower Tax Rate Than Romney

    09/27/2012 4:01:43 AM PDT · by Kaslin · 47 replies
    Townhall.com ^ | September 27, 2012 | Larry Elder
    If "journalism malpractice" were a crime, Nancy Grace would not be able to keep track of all the trials. ABC news reporter Jonathan Karl recently said: "Mitt Romney ... made $13.7 million last year and paid nearly $2 million in taxes. His effective tax rate -- 14.1 percent. That's a lower rate than an auto mechanic who made $75,000 in pay." Not again. Back in January, anchor Diane Sawyer teased "Mitt's millions" on ABC's "World News": "What Mitt Romney's taxes really show about wealth, taxes and fairness." Then correspondent David Muir informed viewers: "(Romney's) tax rate? In 2010, about 13.9...
  • Fewer US CEOs planning to expand, hire (It's the "fiscal cliff" stopping them)

    09/26/2012 11:13:17 PM PDT · by 2ndDivisionVet · 6 replies
    The Bradenton Herald / The Associated Press ^ | September 27, 2012 | Christopher S. Rugaber
    A survey of U.S. chief executives shows a sharp drop in the number of large companies that plan to add jobs or hire more workers. The Business Roundtable said Wednesday that only 29 percent of its member CEOs plan to increase hiring over the next six months. That's down from 36 percent in June, when the group last released its quarterly survey. It's also much lower than the 52 percent of CEOs in early 2011 who said they planned to boost hiring, the highest percentage since the survey began in 2002....
  • Minnesota taxes 13th highest in US

    09/26/2012 7:09:32 PM PDT · by TurboZamboni · 6 replies
    pioneer press ^ | 9--26-12 | bill salisbury
    Minnesota state and local taxes were 13th highest in the nation per capita in 2010, while the state ranked 15th highest in spending per person. Those were among the findings in a new Minnesota Taxpayers Association annual report on state and local taxes and spending that was released Wednesday, Sept. 26. It was based on recently released U.S. Census Bureau data for 2010. “The findings suggest that Minnesota’s moderate increases in tax collections were largely similar to the experiences of other states,” the report said. Minnesota’s state and local taxes per $1,000 of income increased 2.5 percent from 2009 to...
  • Dear Mr. Romney, Everyone Pays Federal Taxes

    09/26/2012 6:43:04 PM PDT · by kathsua · 40 replies
    Townhall ^ | September 25, 2012 | reasonmclucus
    How can a Republican ignore the fact that there are many more federal taxes than just the federal income tax? Republicans have long reminded people that businesses don't pay taxes, their customers do. Normally, I would expect Democrats to try to con lower income groups into believing that the fact they don't pay the federal income tax means they are not being forced to pay for extravagant federal programs. Workers making the minimum wage pay the Social Security and Medicare taxes based on their income. Winos pay federal liquor taxes on their cheap booze. The whiskey tax was one of...
  • County Governments Revolt Against Gov. Martin O'Malley

    09/26/2012 11:44:57 AM PDT · by 92nina · 8 replies
    ATR ^ | 2012-09-25 | Matt Blumenfeld
    Throughout Maryland, county governments have begun to push back against the reckless fiscal policies of Governor Martin O’Malley. During Maryland’s first special session, this past summer, Marylanders saw their taxes once again increased and witnessed the state government passing the buck on teacher pension liabilities to the county governments. In addition, Gov. O’Malley has put into action a whole slew of new regulations on vehicles, rainwater run-off, and septic systems. With continuously diminishing authority over local government specific issues and even higher taxes, county officials are hoping to posture themselves in order to curb not only the authority of the...
  • The Fiscal Costs of Nonpayers

    09/26/2012 8:08:34 AM PDT · by reaganaut1 · 9 replies
    Tax Foundation ^ | September 19, 2012 | Will Freeland, William McBride, and Ed Gerrish
    ... Our analysis finds that in the post-WWII era, there is a very strong connection between nonpayers and federal government transfer payments. Transfer payments are programs that give direct assistance to people such as unemployment insurance, Social Security, Medicare, Medicaid, and food stamps. In fact, our model suggests that a 1 percentage point increase in the share of tax filers who are nonpayers (from 40 percent to 41 percent, for example) is associated with a $10.6 billion per year increase in transfer payments. Since the number of nonpayers has increased by 20 percentage points over the last two decades, our...
  • Romney: Obama 'Did Not' Raise Taxes (who nominated this idiot?)

    09/26/2012 3:30:44 AM PDT · by markomalley · 141 replies
    ABC ^ | 9/25/2012 | Gregory J. Krieg
    Paul Ryan stood by helplessly, and in apparent pain, as Mitt Romney strayed from campaign talking points on President Obama's tax record during a joint "reset" rally today in Ohio. In the midst of remarks ridiculing the president's handling of the economy, Romney said: "I admit this, he has one thing he did not do in his first four years - he's said he's going to do in the next four years, which is to raise taxes." During the primaries, Romney spokeswoman Andrea Saul offered a very different view of the presidents record, when she told the L.A. Times: "President...
  • U.S. carbon tax could halve deficit in 10 years: report

    09/26/2012 3:38:58 AM PDT · by Sub-Driver · 46 replies
    U.S. carbon tax could halve deficit in 10 years: report Reuters – 2 hrs 10 mins ago WAHSINGTON, Sept 26 (Reuters Point Carbon) - Imposing a $20 per metric ton carbon tax in the U.S. could reduce the country's budget deficit by 50 percent over the next 10 years, a report by the Congressional Research Service said on Tuesday. Such a tax would generate approximately $88 billion in 2012, rising to $144 billion by 2020, the report said, slashing U.S. debt by between 12 and 50 percent within a decade, depending on how high the deficit climbs The U.S. budget...
  • If you want the rich to pay more tax, let them grow even richer

    09/26/2012 6:02:59 AM PDT · by SeekAndFind · 2 replies
    The Telegraph ^ | 09/26/2012 | Allister Heath
    One of the most pernicious myths in the current political debate is that the rich don’t pay much tax. This is nonsense, as even a cursory analysis of the official statistics reveals. The top 1pc, who earn £156,000 or above, will pay a whopping 24.2pc of all income tax this year, a much higher contribution than their 10.8pc share of all income. The top 10pc of earners – those on at least £50,500 – will pay 55.3pc of all income tax, also far more than their income share. The most astonishing figure of all is that for the very wealthy:...
  • Supremes docket income tax challenge

    09/26/2012 4:42:57 AM PDT · by wesagain · 158 replies
    WorldNetDaily ^ | Sept 26, 2012 | Bob Unruh
    "Colorado man's challenge to IRS says wages don't count"The government calls those who argue the income tax has no legal foundation “tax protesters” and labels their arguments “frivolous.” And usually judges toss their arguments out of court, assess them court costs on top of taxes, interest and penalties, and sometimes even threaten them if they file further cases. But now the U.S. Supreme Court – the nine judges who sit on the bench in Washington by virtue of their selection by presidents and confirmation by the U.S. Senate – has docketed exactly that type of case. The results? Who knows,...
  • Romney, In Shift, Says Obama Has Not Raised Taxes [Romney Acting Like McCain?]

    09/25/2012 10:40:00 PM PDT · by Steelfish · 55 replies
    LA Times ^ | September 25, 2012 | Seema Mehta
    Romney, In Shift, Says Obama Has Not Raised Taxes By Seema Mehta September 25 VANDALIA, Ohio — Mitt Romney said Tuesday that President Obama did not raise taxes during his first term, contradicting a constant attack he has leveled on Obama — that his healthcare plan was a tax increase. “I admit this, he has one thing he did not do in his first four years — he’s said he’s going to do in the next four years — which is to raise taxes. And is there anyone who thinks raising taxes will help grow the economy? No!” Romney told...
  • Peter Schiff: Affordable Care Act Will Backfire

    09/25/2012 7:24:18 PM PDT · by 2ndDivisionVet · 41 replies
    Capitalism Magazine ^ | September 11, 2012 | Peter Schiff
    Now that the Supreme Court has given its narrow blessing to the Affordable Care Act, the big question is whether it will deliver the benefits that its proponents promise. Unfortunately, as it is now constructed, the plan will backfire causing fewer healthy people to buy insurance, raise premiums for those who do, destroy employment opportunities, cripple the health insurance industry, and weaken the economy. In order to guarantee insurance to all, regardless of age, health or pre-existing conditions, the framers of the plan concede that it is essential that the young and healthy (who are less likely to be heavy...
  • Hillary Clinton stumps for global tax on rich

    09/25/2012 2:34:20 PM PDT · by markomalley · 32 replies
    The Daily Caller ^ | 9/25/2012 | Jessica Stanton
    Secretary of State Hillary Clinton used her Monday evening keynote speech at a Clinton Global Initiative event to push for a new global initiative: a tax on the world’s rich. “One of the issues that I have been preaching about around the world is collecting taxes in an equitable manner, especially from the elites in every country,” Clinton said at the annual meeting of her husband’s global public policy organization. “It is a fact that around the world the elites of every country are making money,” Clinton continued. “There are rich people everywhere. And yet they do not contribute to...
  • Economists Opposed to Taxmageddon

    09/25/2012 10:45:43 AM PDT · by 92nina · 1 replies
    ATR ^ | 2012-09-25 | Rhett Brooks
    The National Association for Business Economics (NABE) recently surveyed 236 business economists on fiscal policy issues, including the looming Taxmageddon and Obamacare. The results of the survey reflect a clear divide on taxes between economists and Democrats in Congress. According to the survey, a majority of respondents support the extension of “payroll tax cuts, current marginal income tax rates, and current tax rates for dividends and capital gains for most or all taxpayers through 2013.” Furthermore, between 35 and 45 percent favor the permanent extension of income, dividends, and capital gains at their current rate. On the issue of tax...
  • 5 Myths About America's Tax System That You Probably Believe

    09/25/2012 10:44:57 AM PDT · by bthockey · 15 replies
    The Band Of Patriots ^ | 9/25/12 | Bryan Thomas
    Most mainstream media outlets aide in the proliferation of myths about our tax system and our economy. Here are 5 myths about the US tax system that you probably thought were true. 1. Once A Millionaire, Always A Millionaire As you can see by the graph below, this shows how many consecutive years millionaires file their taxes as millionaires. Half of the people who become millionaires are only at that status for one year.​ 2. Tax Credits Only Help The Rich This graph shows the effective tax rates since 1980. As you can see, because of tax credits and deductions,...
  • How Liberals Screw the 47 Percent

    09/25/2012 5:13:15 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 98/25/2012 | Christopher Chantrill
    Everyone's getting their knickers in a twist about the 47 percent that Mitt Romney figures are going to vote for Barack Obama, no matter what. But do you know why they will vote for Barack? Wyatt Emmerich did the math back in 2010 for The Clevelend Current in Mississippi. It's been written up at ZeroHedge and by Kathy Shaidle. The message is simple. Earn $3,600 per year as head of a family of three, and your net earnings (after taxes and government benefits) will amount to $31,630. But if you earn $60,000 a year, your net earnings will be $34,366....
  • Demagogues, Debt, and Atlas Shrugging

    09/25/2012 5:37:05 AM PDT · by Alex Baker · 1 replies
    RealityBatsLast ^ | September 23, 2012 | Bryce Buchanan
    Obama’s pre-election story is that taxing the rich is the key to funding the government and reducing the debt. Even his greatly expanded government will be financed by the rich paying their fair share. This story is for people who do not understand anything at all about current government spending and the staggering size of our debt. Obama’s story is for uninformed voters. The question is, do the uninformed represent a majority yet? Read more here: http://www.realitybatslast.com/2012/09/23/demagogues-debt-and-atlas-shrugging/