Keyword: taxfairness

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  • New CBO Report Explodes Tax Fairness Myths

    11/14/2014 6:09:40 AM PST · by IBD editorial writer · 6 replies
    Investor's Business Daily ^ | 11/13/2014 | John Merline
    President Obama has constantly complained about the rich not paying their "fair share." But a new Congressional Budget Office report shows that the rich were paying more than their fair share of taxes before the numerous hikes he imposed. The CBO looks at the distribution of household income and federal taxes up through 2011, the last year for which it has data. It found, for example, that:
  • Once Self-Reliant, Now A Nation Of Takers

    04/07/2010 5:19:01 PM PDT · by Kaslin · 23 replies · 1,256+ views
    Investors.com ^ | April 7, 2010 | SCOTT A. HODGE
    Are you a giver or a taker? No, that is not a bad pickup line from an Internet dating site — it's a question every American should be asking themselves these days. "Do I take more than I give?" I'm sure most of us want to be considered givers, not takers. After all, we grew up with the old adage that "it is better to give than receive." But we all know people who are more takers than givers. We've all seen someone who brings a small salad to the potluck but piles lots of your casserole on his...
  • Deere (And Others) In The Headlights

    03/26/2010 5:06:50 PM PDT · by Kaslin · 27 replies · 1,286+ views
    Investors.com ^ | March 26, 2010 | INVESTORS BUSINESS DAILY Staff
    Health Reform: As major businesses lay out the impact of ObamaCare in dollars and jobs, two things are clear: the costs will be enormous, and the president's vow to focus on "jobs, jobs, jobs" can no longer be believed. Early returns on ObamaCare are coming in, and they belie proponents' claims of job creation and cost reduction. The costs will increase. They are merely being shifted to the states and to America's businesses, large and small. AT&T, the country's largest telephone company, announced Friday it will take a $1 billion first-quarter charge related to the new health care law. The...
  • Other Tax Shoes Begin To Drop

    03/23/2010 5:46:34 PM PDT · by Kaslin · 37 replies · 2,310+ views
    Investors.com ^ | March 23, 2010 | INVESTORS BUSINESS DAILY staff
    Health Care Reform: The Senate parliamentarian dims GOP hopes on a reconciliation bill that contains even more onerous taxes and even a financial incentive to lay people off. No wonder Speaker Pelosi is laughing. We'll acknowledge that the signing of ObamaCare into law is a historic event, but we think the Weather Channel broadcasting the signing ceremony was a bit much. On the other hand, stormy political weather and more dark clouds lay ahead. The cries of "repeal" and "remember in November" are rising, and state attorneys general are taking the feds to court over the unconstitutional mandates and usurpation...
  • Tax Fairness Reaches A Tipping Point

    03/16/2010 5:16:23 PM PDT · by Kaslin · 26 replies · 1,200+ views
    Investors.com ^ | March 16, 2010 | INVESTORS BUSINESS DAILY Staff
    Fiscal Policy: The latest data show a record number of people with no tax obligation. We also have the highest-earning nontaxpayers ever. With more riding the wagon and fewer pulling, it should soon break down. A record number of the 142 million tax returns filed in 2008 resulted in no taxes owed, according to the Tax Foundation's analysis of the latest IRS data. About 51.6 million returns, or 36.3%, were filed by those whose deductions, exemptions and tax credits wiped out any federal income-tax obligation. These aren't people who have overpaid their taxes or had so much withheld from their...
  • CA: A pricey proposition - Overhaul of Prop. 13 could cost taxpayers millions to implement

    06/27/2005 9:46:34 AM PDT · by NormsRevenge · 54 replies · 1,133+ views
    LA Daily News ^ | 6/27/05 | David M. Drucker
    SACRAMENTO -- A proposed initiative ending Proposition 13 protection for commercial property would cost Los Angeles County taxpayers more than $26 million annually to implement, according to an analysis by the California Assessors' Association. The Tax Fairness Act has received almost $2.4 million from a group of influential public employee unions to circulate petitions placing the measure on the June 2006 ballot. Proponents say it would generate $2.8 billion per year in additional property tax revenues statewide. A CAA review of the proposal found it would be difficult and costly for counties to implement, with counties probably having to spend...
  • Tax 'Fairness' Feud Rages On

    06/11/2003 6:50:00 AM PDT · by presidio9 · 52 replies · 536+ views
    THE WALL STREET JOURNAL ^ | Wednesday, June 11, 2003 | SHAILAGH MURRAY
    <p>What's fair when it comes to tax policy and low-income people?</p> <p>Congress hasn't figured it out yet, as the fight to extend the child tax credit to more low-income people shows. No matter how the issue is resolved, there will be more rancor ahead, as Republicans and Democrats increasingly use the tax code to deliver benefits to their voter bases: Democrats try to steer funds to their low-income constituents; Republicans aim to ensure middle- and upper-income people don't pay a disproportionate share of taxes.</p>
  • A taxing question: Just what is fair?

    04/15/2002 4:34:52 AM PDT · by Fintan · 104 replies · 1,083+ views
    The Philadelphia Inquirer ^ | April 15 2002 | Edwin A. Locke
    It's tax day. So let's consider some basic facts. The wealthiest 1 percent of the taxpayers pay 34 percent of all federal income taxes. The top 50 percent pay 96 percent of the total bill. This means that the least wealthy 50 percent pay almost nothing. In short, the income tax system soaks the rich. In the name of justice, the President, Congress and the American public should be demanding a tax cut that lowers the tax bill of the wealthy. But the opponents of tax cuts do not want justice. They want redistribution of wealth. They want to...