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Keyword: taxes

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  • L.A. may charge drivers by the mile, adding freeway tolls to cut congestion

    01/23/2019 8:16:23 AM PST · by C19fan · 19 replies
    LA TImes ^ | January 22, 2019 | Laura J Nelson
    For years, Southern California lawmakers have tried to steer clear of decisions that make driving more expensive or miserable, afraid of angering one of their largest groups of constituents. But now, transportation officials say, congestion has grown so bad in Los Angeles County that politicians have no choice but to contemplate charging motorists more to drive — a strategy that has stirred controversy but helped cities in other parts of the world tame their own traffic. The Metropolitan Transportation Authority is pushing to study how what’s commonly referred to as congestion pricing could work in L.A., including converting carpool lanes...
  • Poll: A majority of Americans support raising the top tax rate to 70 percent

    01/22/2019 11:09:47 AM PST · by Buckeye McFrog · 92 replies
    The Hill ^ | 1/15/2019 | Matthew Sheffield
    Rep. Alexandria Ocasio-Cortez(D-N.Y.) and her Republican critics have both called her proposal to dramatically increase America's highest tax rate "radical" but a new poll released Tuesday indicates that a majority of Americans agrees with the idea. In the latest The Hill-HarrisX survey — conducted Jan. 12 and 13 after the newly elected congresswoman called for the U.S. to raise its highest tax rate to 70 percent — a sizable majority of registered voters, 59 percent, supports the concept. Ocasio-Cortez has not introduced any legislation to enact the concept but the survey shows a broad cross-section of Americans supports it, at...
  • The super rich at Davos are scared of Alexandria Ocasio-Cortez's proposal to hike taxes [tr]

    01/22/2019 8:26:42 AM PST · by C19fan · 47 replies
    CNBC ^ | January 22, 2019 | Hugh Son and Brian Schwartz
    The elite financiers attending Davos are worried about the 70 percent tax rate on earnings above $10 million proposed by freshman Rep. Alexandria Ocasio-Cortez, D-N.Y. "It's scary," Scott Minerd, global chief investment officer for $265 billion Guggenheim Partners, said in an interview on the sidelines of the World Economic Forum in Davos, Switzerland. "By the time we get to the presidential election this is going to gain more momentum," said Minerd, who added that he would probably be personally impacted by it. "And I think the likelihood that a 70 percent tax rate, or something like that, becomes policy is...
  • Over 65 Tax Question

    01/21/2019 5:41:43 PM PST · by Jamestown1630 · 49 replies
    I've been wracking my brain trying to figure out a change in my tax situation, and hope that I'm just stupidly missing something. I turned 65 last year, and I only learned today that I should be eligible for an increased exemption on my federal taxes - it appears to be $1,300 for our situation. But when I look at the 1040 form, I can't see where you enter that amount, or see a line for it. There's a box to check if you turned 65, but I don't see what you do after that. Our taxes have always been...
  • Rhode Island governor seeks to tax 'non-mission essential' hospital properties

    01/21/2019 2:05:06 PM PST · by buckalfa · 17 replies
    Becker's Hospital Review ^ | January 18, 2019 | Kelly Gooch
    Rhode Island Gov. Gina Raimondo wants to give cities and towns the ability to tax "non-mission essential" properties owned by nonprofit colleges and hospitals, according to a WPRI-TV report. The idea is part of the governor's proposed $9.9-billion budget for the fiscal year that begins July 1. The budget also reportedly lowers funding for the Payment in Lieu of Taxes program, which compensates municipalities for property tax revenue lost due to non-taxable properties. The proposed budget would cut $5 million from PILOT funding. State officials said allowing cities and towns to tax properties owned by nonprofit hospitals and colleges would...
  • Texas Taxpayers Shouldn’t Have to Pay for Lobbyists Who Work to Raise Their Taxes

    01/21/2019 12:34:09 PM PST · by JeepersFreepers · 9 replies
    Texas Public Policy Foundation ^ | 11/29/2017 | Chuck DeVore
    Local governments’ use of taxpayer dollars to lobby for higher taxes, greater spending, and more regulatory power is nothing more than taking taxpayer dollars to take more taxpayer dollars. Individual Texas taxpayers are largely outgunned by this lobbying firepower. Unfortunately, many local jurisdictions, from counties, to cities, to school districts, and even municipal utility districts (MUDs), have outsourced a very basic part of their job as elected officials by hiring professional lobbyists to lobby state government. Even worse, the up-to-$41 million in taxpayer money spent on hired lobbyists to influence the state government in 2017 was often spent on behalf...
  • A ‘Revenue Neutral’ Carbon Tax Is a Costly Myth

    01/20/2019 5:35:01 PM PST · by Kaslin · 21 replies ^ | January 20, 2019 | James Taylor
    The Wall Street Journal, Washington Post, and other media outlets are reporting that a bipartisan group of top economic advisors has signed a statement supporting a carbon dioxide tax that returns all revenue to the American people. Prominent signatories include Alan Greenspan, Paul Volcker, and Ben Bernanke. Expect this to be a big messaging point in the weeks and months ahead for global warming activists.More atmospheric carbon dioxide and gradually warming temperatures have brought net benefits to human health and welfare. Yet economists like Greenspan and Bernanke, who received appointments from Republican presidents, often make the argument that they are...
  • Poll: Majority Backs AOC’s 70 Percent Top Marginal Tax Rate

    01/19/2019 12:30:00 PM PST · by BlackFemaleArmyColonel · 55 replies
    NYMAG ^ | 15 January 2019 | Eric Levitz
    Earlier this month, Alexandria Ocasio-Cortez went on national television and said that the United States should tax incomes above $10 million at a 70 percent rate. In response, some centrist pundits pronounced the Democratic Party dead by political suicide: National Journal reporter Josh Kraushaar argued that, while congresswoman Rashida Tlaib’s profane call for Trump’s impeachment was getting more attention, Ocasio-Cortez “calling for a 70 percent tax rate on the nation’s most-watched news show a whole lot more politically damaging for Ds.” There was never much evidence for this assessment. In public opinion polls, raising taxes on the rich consistently ranks...
  • How Wealthy Americans Like Jack Benny Avoided Paying a 70% Tax Rate

    01/19/2019 5:35:11 AM PST · by reaganaut1 · 85 replies
    Wall Street Journal ^ | January 18, 2019 | Laura Saunders
    It wasn’t that long ago, in 1980, that America had a top income-tax rate of 70% for individuals, nearly double the current top rate of 37%. And it wasn’t unusual. From 1940 through 1980 the top rate for the highest earners never dipped below 70%. During most of the 1950s, when the U.S. economy dominated the world, the top rate was 91%. It kicked in at $400,000 of taxable income, or roughly $3.7 million in today’s dollars. This history is relevant given New York Rep. Alexandria Ocasio-Cortez’s recent call for higher tax rates on what she called the “tippy-tops” to...
  • Governor Sisolak holds his first State of the State address

    01/16/2019 8:11:22 PM PST · by BackRoads775 · 12 replies ^ | 01/16/2019 | by staff
    Nevada Gov. Steve Sisolak says he's not proposing any new taxes but he does want to create more state government. The Democrat said in his State of the State speech that he wants to establish a number of new offices to help implement his priorities. They include an Office of Small Business Advocate under the lieutenant governor and a Patient Protection Commission to provide a comprehensive approach to health care to help protect Nevadans from such things as prescription drug price-gauging. Sisolak also wants to establish a Cannabis Compliance Board modeled after Nevada's state Gaming Commission to ensure transparent regulation...
  • California: Record Spending as Tax Revenue Collapses by $5 Billion

    01/16/2019 6:13:26 AM PST · by artichokegrower · 52 replies
    American Thinker ^ | January 16, 2019 | Chriss Street
    As California Gov. Gavin Newsom announced plans for a record $144.2 billion spending plan, the State Controller quietly reported a $4.82 billion collapse of state tax revenues.

    01/15/2019 6:03:03 PM PST · by TigerClaws · 141 replies
    Rep. Alexandria Ocasio-Cortez (D-N.Y.) and her Republican critics have both called her proposal to dramatically increase America's highest tax rate "radical" but a new poll released Tuesday indicates that a majority of Americans agrees with the idea. In the latest The Hill-HarrisX survey — conducted Jan. 12 and 13 after the newly elected congresswoman called for the U.S. to raise its highest tax rate to 70 percent — a sizable majority of registered voters, 59 percent, supports the concept. Ocasio-Cortez has not introduced any legislation to enact the concept but the survey shows a broad cross-section of Americans supports it,...
  • Cough Up, America

    01/15/2019 9:16:21 AM PST · by Kaslin · 10 replies ^ | January 15, 2019 | Cal Thomas
    When you receive your paycheck and look at the withholding for federal, state and sometimes city taxes, along with Social Security and Medicare, you probably don't think you're underpaying governments and want them to take more. New York City Mayor Bill de Blasio believes that if you have played by what used to be called "the rules" and are making a decent living, taking care of yourself and your family and not relying on government, your taxes should be increased. In his State of the City address last week, de Blasio said, "...brothers and sisters, there's plenty of money in...
  • Philadelphia’s Soda War

    01/14/2019 3:03:27 PM PST · by Politically Correct · 11 replies
    National Review ^ | January 14, 2019 | KYLE SMITH
    Philadelphia’s outlandish soda tax is what Democratic-party politics looks like when it lets its freak flag fly. So many classic elements are there: (failed) social engineering and “think of the children!” on one side, paid for with a punitive tax on poor people and destroyed businesses, which means destroyed jobs, which in turn means lives upended. What lives? Greedy capitalists with monocles, maybe? No, they’ll be fine. Think of ex-cons trying to regain their footing in society. To review this debacle, in 2017 Philadelphia, seeking to fund a universal pre-K program, slapped mammoth sin taxes on Coke and Pepsi (and...
  • California’s Gavin Newsom Proposes Tax on Drinking Water in First Budget

    01/13/2019 12:48:00 PM PST · by Trump20162020 · 82 replies
    Breitbart ^ | January 13, 2019 | Joel B. Pollak
    California Governor Gavin Newsom proposed his first budget for the state on Friday, and it includes a tax on drinking water. The budget, titled “California for All,” declares drinking water a “fundamental right,” and adds: “The Budget includes short-term measures to bring immediate relief to communities without safe drinking water and also proposes an ongoing sustainable funding source to address this problem into the future.” The San Francisco Chronicle notes: “The details of the proposed tax are unknown, but a similar proposal was abandoned by then-Governor Jerry Brown last year after failing to garner enough support in the legislature.”
  • State budget planners will count on phantom revenue streams this year

    01/12/2019 5:53:04 PM PST · by yesthatjallen · 3 replies
    The Hill ^ | 01/12/19 | Andrew Wilford, opinion contributor
    State budget planners around the country thought they would be getting a Christmas bonus six months early in 2018. When the Supreme Court ruled in South Dakota versus Wayfair that online retailers with significant sales within a state were fair game for sales tax liability, states scrambled to take advantage. Legislators quickly built rosy revenue projections from online sales taxes into their budgets, and they adjusted their planned spending accordingly. The only problem? Those revenue projections are likely too rosy, and now some states are in danger of being left in the red. Minnesota is one of the states learning...
  • Government shutdown won’t delay tax refunds: White House

    01/12/2019 10:55:23 AM PST · by Pollard · 9 replies
    NY Post - AP ^ | January 7, 2019 | 10:51pm | By Associated Press
    WASHINGTON — Taxpayers who are owed refunds will be paid on time, despite the government shutdown that has closed many federal agencies, a Trump administration official said Monday as concern mounted over the risk that the payments could be delayed. The acting director of the White House budget office, Russell Vought, said customary rules will be changed to make the payments possible. He told reporters that an “indefinite appropriation” was available for the refunds, which would go out as normal. As it dragged through a third week, the partial government shutdown could not have come at a worse time for...
  • Ocasio-Cortez sparks debate with talk of 70 percent marginal rate

    01/12/2019 10:30:38 AM PST · by yesthatjallen · 90 replies
    The Hill ^ | 01/12/19 | Naomi Jagoda and Juliegrace Brufke
    House Democrats are treading carefully when it comes to talk of a 70 percent marginal tax rate on income above $10 million, an idea floated by freshman Rep. Alexandria Ocasio-Cortez (D-N.Y.) in a recent “60 Minutes” interview. Many Democrats are supportive of the freshman phenom’s call for higher taxes on the rich, but even some progressives are stopping short of endorsing that high a marginal rate. Rep. Pramila Jayapal (D-Wash.), a co-chair of the Congressional Progressive Caucus, said she thinks “the fact that people are not paying their fair share is a problem and the millionaires and billionaires are the...
  • Gavin Newsom budget calls for drinking water tax to help poor communities

    01/11/2019 5:11:31 PM PST · by lowbridge · 71 replies ^ | January 10, 2019 | DALE KASLER, RYAN SABALOW, AND ALEXEI KOSEFF
    Tackling what promises to be a controversial issue, Gov. Gavin Newsom proposed a tax on drinking water Thursday to help disadvantaged communities clean up contaminated water systems. Newsom’s plan for a “safe and affordable drinking water fund,” included in the new governor’s first budget proposal, attempts to revive an idea that died in the Legislature last year. A McClatchy investigation last year showed that at least 360,000 Californians rely on water that does not meet state standards for toxins. McClatchy also found that 6 million Californians have water providers that have violated state standards at some point since 2012. “That is a...
  • Reality Check: AOC's 'Tax the Rich' Scheme Would Pay For...

    01/11/2019 2:33:27 PM PST · by Kaslin · 19 replies ^ | January 11, 2019 | Guy Benson
    When Rep. Alexandria Ocasio Cortez floated her idea (quasi-embraced by Sen. Kamala Harris) to raise the top marginal income tax rate to 70 percent on the richest Americans in order to pay for her "Green New Deal," I wrote that governmental confiscation of 70 cents on any dollar earned in a free society is unfair and immoral.  But would such a scheme at least make significant headway toward boosting federal revenues, commensurate with the orgy of new spending the Democratic Left is advocating?  Budget analyst Brian Riedl crunches the numbers for the Daily Beast and details the predictable answer to that...