Keyword: taxhike

Brevity: Headers | « Text »
  • Brazil's Rousseff Races to Contain Congressional Revolt Over Austerity [Commie Ping]

    03/05/2015 1:07:05 PM PST · by Zuben Elgenubi · 1 replies
    Voice of America ^ | March 5, 2015 | staff
    BRASILIA— Brazilian President Dilma Rousseff raced on Wednesday to defuse a rebellion by legislators upset about her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras. Rousseff met with legislative leaders from her coalition after they unexpectedly threw out a presidential decree that would have raised payroll taxes and helped close a gaping hole in Brazil's budget. “This is very serious for Rousseff,” said political analyst Gabriel Petrus of Brasilia-based consultancy Barral M Jorge Associates. “It looks as if there is no political stability on top of the economic crisis.” The economic impact of...
  • CORRECTED-Chicago businesses brace for potential doubling of property taxes

    10/02/2015 11:10:51 PM PDT · by george76 · 18 replies
    Reuters ^ | Oct 2, 2015 | Dave McKinney
    Chicago Mayor Rahm Emanuel has disclosed that his record property tax hike plan entails significant cuts for nearly 300,000 homeowners, leaving Chicago businesses predicting they will face hikes of up to 50 percent. The second-term mayor last week proposed a $544 million property tax increase, the city's biggest ever, to help fix one of the worst-funded city pension systems in America ... Emanuel's office, which has said one in four dollars of the tax hike would come from the city's central business district, did not contest the 50-percent figure. But a mayoral aide insisted Emanuel's plan is his best effort...
  • Puerto Rico's 'death spiral' can be traced back to one mistake

    08/07/2015 9:27:38 AM PDT · by SeekAndFind · 6 replies
    Business Insider ^ | 08/07/2015 | Linette Lopez
    Puerto Rico is $72 billion in debt, and it will take a painful process to bring the island's finances back from the brink. It's a massive debt load for such a small territory, and the problem can really be traced to one issue — bad tax policy. After Puerto Rico let one tax break for manufacturers expire almost a decade ago, manufacturers started shutting down operations on the island. That caused a spike in unemployment. On top of that, business-friendly tax policies for some of the companies that remained allowed multinational giants to pay tax rates of little more than...
  • Power Grab: STIB Directly Paying Companies Millions

    09/20/2015 10:17:42 AM PDT · by Tolerance Sucks Rocks · 3 replies
    The Nerve ^ | June 1, 2015 | Rick Brundrett
    Most folks probably think of the State Transportation Infrastructure Bank as just that – a bank that finances major highway and bridge projects. S.C. Rep. Chip Limehouse, R-Charleston and a member of the Infrastructure Bank (STIB) Board of Directors, described the bank, created by the Legislature in 1997, as a “funding arm” in a recent (Charleston) Post & Courier story. But in addition to providing funding to the state Department of Transportation and local governments, STIB in recent years also has assumed the role of a general contractor or project manager, paying millions of dollars directly to certain companies for...
  • Donald Trump: Tax the Rich More

    08/28/2015 12:18:58 PM PDT · by z taxman · 170 replies
    CNN ^ | Aug. 28, 2015 | Heather Long
    Donald Trump is finally showing us more of his economic plan beyond the "Make America Great Again" slogan on his red hat. America has now learned: -- He wants to tax the rich more and the middle class less. -- He wants to lower corporate taxes. -- He wants to cut government spending and stop raising the debt ceiling. "The hedge fund people make a lot of money and they pay very little tax," Trump said in an interview Wednesday with Bloomberg. "I want to lower taxes for the middle class." In short, Trump is willing to raise taxes on...
  • Cook County Board OKs sales tax hike [ Illinois ]

    07/15/2015 5:26:25 PM PDT · by george76 · 22 replies
    Crain's Chicago Business ^ | July 15, 2015 | Greg Hinz
    Cook County Board today cleared the way for President Toni Preckwinkle's plan to raise the county's sales tax a penny on the dollar, mostly for pensions. The action came when the board's Finance Committee, which includes all board members, voted 9 to 7 to 1 to send the $474 million a year tax hike to the full board, which will consider it later today. The key votes came from Commissioner Luis Arroyo, a Chicago Democrat who voted "yes," and suburban Republican Elizabeth Gorman, who cast a "present" ballot and who is widely rumored to soon be headed to a new,...
  • How much could Chicago pension payments jack up your property tax bill? Try 30 percent

    07/05/2015 6:49:36 AM PDT · by george76 · 21 replies
    Crain's Chicago Business ^ | July 04, 2015 | Thomas A. Corfman
    Even as Mayor Rahm Emanuel warns about a property tax hike of up to $250 million for the cash-strapped Chicago Public Schools, another big wave of increases likely is coming to rescue the pensions of police officers and firefighters. A massive payment due to those retirement plans next year could drive up Chicago property taxes by more than 30 percent, according to a Crain's analysis. And if the current logjam in Springfield continues, it could be a lot worse. Taxes on a $250,000 home would jump $224, assuming the city continues its current practice of using property taxes to fund...
  • Obama "Very Interested" In Raising Taxes Through Executive Action

    03/02/2015 5:16:42 PM PST · by amnestynone · 77 replies
    townhall ^ | March 2, 2015 | Conn Carroll
    White House Press Secretary Josh Earnest confirmed Monday that President Obama is "very interested" in the idea of raising taxes through unitlateral executive action. "The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans," Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action. "Now I don't want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of,"...
  • Federal gas tax increase needed for roads, bridges and highways

    01/25/2015 11:12:00 PM PST · by Tolerance Sucks Rocks · 50 replies
    The Contra Costa Times ^ | January 24, 2015 | Contra Costa Times
    The president was a conservative's conservative. He had campaigned on reducing taxes and made it his legacy. But when a gas tax increase was proposed, it was a different story. In his weekly radio address, he said, "We simply cannot allow this magnificent (highway) system to deteriorate beyond repair." That was 1982. The president was Ronald Reagan. Unfortunately, the disrepair Reagan feared has come to pass. The federal gas tax of 18.4 cents hasn't been raised since 1993, and the Highway Trust Fund is severely underfunded. A 10- to 15-cent a gallon increase would provide enough money to meet the...
  • As prices fall at the pump, some U.S. lawmakers eye gas tax hike

    01/08/2015 12:32:21 PM PST · by NormsRevenge · 65 replies
    Reuters on Yahoo ^ | 1/8/15 | Susan Cornwell and Timothy Gardner
    WASHINGTON (Reuters) - As U.S. gasoline prices plunge to the lowest level in more than five years, some U.S. lawmakers see a golden opportunity to bump up taxes at the pump to help pay for the repair of crumbling roads and bridges. Fuel taxes have been flat for more than 20 years, starving the Highway Trust Fund of revenue used for rising infrastructure repair costs. Lawmakers have fueled the fund with last-minute short-term injections of cash, but want to find a more permanent fix. Last July, before a similar deadline, Republican Senator Bob Corker of Tennessee and Democrat Chris Murphy...
  • The cheap oil dividend (BARF)

    01/01/2015 8:10:51 PM PST · by Tolerance Sucks Rocks · 17 replies
    The Baltimore Sun ^ | December 31, 2014 | Baltimore Sun
    hether one observed Christmas or Hanukkah — or any other seasonal festivity — there was a nice little gift included for the drivers of this nation. Gasoline prices, in case anyone hasn't noticed, are down, way down. The average price of a gallon of unleaded in Maryland by Christmas week was in the neighborhood of $2.53, according to AAA, and there were some stations in the Baltimore area selling it for as little as $2.22. lRelated The cheap oil dividend One year ago, average gasoline prices were about $1 per gallon higher, which means a typical fill-up is saving drivers...
  • Japan’s economy shrinks as tax hike hits spending

    08/12/2014 10:26:58 PM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Aug 13, 2014 1:00 AM EDT | Yuri Kageyama
    The Japanese economy shrank at an annual pace of 6.8 percent in the second quarter after spending got slammed by a sales tax hike that kicked in from April, government figures showed Wednesday. Japan’s gross domestic product, or the total output of goods and services, also contracted 1.7 percent during the April-June period from the previous quarter. The decline in GDP was the worst since the March 2011 tsunami and quake disaster in northeastern Japan. In the first quarter of 2011, Japan’s economy shrank at an annual rate of 6.9 percent. The weak figures were expected as consumers and businesses...
  • Quinn: A $10/hour minimum wage is a principle as old as the Bible

    03/22/2014 4:57:58 PM PDT · by Extremely Extreme Extremist · 41 replies
    Despite his clumsy expression, I’m going to go ahead and venture that, yes, most Republicans would probably agree with Illinois Gov. Pat Quinn that a person that works a solid forty hours per week at an honest, productive job should not have to live in poverty. That’s precisely why it would be nice if hiking the minimum wage was actually a constructive way to boost employment, median incomes, and economic growth, instead of an counterproductive and intellectually cheap populist band-aid. Via NRO:
  • New Ad Targets Giron’s Support of Tax Hike, Green Energy Mandate ( CO Recalls )

    08/27/2013 6:11:30 AM PDT · by george76 · 6 replies
    Colorado Observer. ^ | August 26, 2013
    With just weeks to go until state Sen. Angela Giron (D-Pueblo) is set to face voters in an unprecedented recall election triggered by her support for gun control legislation, a new radio ad is targeting the embattled lawmaker for backing an income tax hike and a controversial expansion of a government-imposed energy mandate. “Senator Angela Giron – so disappointing, so out of touch with Pueblo,” a female voice intones in the ad. “When big dollar interest groups pushed for more government energy mandates last spring, Senator Giron stood with them, not Pueblo. The results? Energy analysts promise higher utility bills...
  • Oregon: "GPS And Taxes..."

    11/13/2008 6:31:24 AM PST · by chrislind2 · 22 replies · 1,248+ views
    The Washington Dispatch ^ | Jul 18, 2003 | Cathryn Crawford
    GPS And Taxes: An Intrusive Combination The Washington Dispatch ^ | July 18, 2003 | Cathryn Crawford Posted on Friday, July 18, 2003 7:07:28 AM by Cathryn Crawford GPS And Taxes: An Intrusive Combination by Cathryn Crawford Jul 18, 2003 Some things just aren’t that shocking anymore. Oregon, the state known for its law that fines you for speaking out against a public worker or a state official, has a new socialistic program in mind. It’s a dream come true for the government, both state and federal, in that it not only promotes the idea of Big Brother, but it...
  • N.C. looks at taxing drivers by the mile [using GPS!]

    12/15/2008 2:26:11 PM PST · by southernnorthcarolina · 57 replies · 1,490+ views
    Charlotte Observer ^ | December 15, 2008 | Steve Harrison
    Idea for road-use tax is expected to hinge on odometer readings, then GPS tracking, to replace revenue lost to fuel efficiency. With gas-tax revenues plummeting, the state of North Carolina is looking seriously at taxing motorists for how far they drive. If the “road-use tax” is implemented, it would at first be simple – with the state checking your odometer annually and taxing you based on how many miles you have driven. But transportation experts say new GPS technology could allow the state to charge people different rates based on when and where they drive, in an attempt to manage...
  • Nanny State alert: Meet the mileage police

    12/16/2008 5:06:20 PM PST · by Sammy67 · 31 replies · 1,110+ views
    michellemalkin ^ | 12/16/08 | michellemalkin
    First, they hand us our Obama-approved tire gauges. Next, they police our odometers. Fresh from North Carolina, here’s the latest Nanny State proposal: Monitoring our odometers and taxing us accordingly. With gas-tax revenues plummeting, the state of North Carolina is looking seriously at taxing motorists for how far they drive. If the “road-use tax” is implemented, it would at first be simple – with the state checking your odometer annually and taxing you based on how many miles you have driven. But transportation experts say new GPS technology could allow the state to
  • Oregon Looks to Legislate GPS Mileage Tax, Faces Privacy Fears

    12/31/2008 12:34:02 PM PST · by hreardon · 123 replies · 2,553+ views
    DailyTech ^ | December 31, 2008 | Jason Mick
    While the exact details are still being ironed out, Gov. Kulongoski's web page gives the basics of the plan. In it he states, "As Oregonians drive less and demand more fuel-efficient vehicles, it is increasingly important that the state find a new way, other than the gas tax, to finance our transportation system." He is creating a task force "to partner with auto manufacturers to refine technology that would enable Oregonians to pay for the transportation system based on how many miles they drive." Key studies were performed in 2006 and 2007 that indicate that such a program would indeed...
  • Taxing the Miles You Drive. GPS to Track and Record All Vehicles?

    02/02/2009 9:41:42 AM PST · by stillafreemind · 83 replies · 3,233+ views
    Associated Content ^ | 2-2-09 | Bobby Tall Horse
    Gas prices were too high and we weren't green enough. Fine, buy an electric car or gas saving car and all is fine. Right? Wrong. The Oregon Governor thinks gas taxes are going away. His answer? Tax the miles you drive. Tax the miles you drive with GPS technology. Think they are kidding? They're not.
  • Massachusetts May Consider A Mileage Charge

    02/17/2009 11:10:18 AM PST · by Steelfish · 59 replies · 1,582+ views
    SFChronicle ^ | February 17, 2009
    Massachusetts may consider a mileage charge By GLEN JOHNSON, Associated Press Writer Tuesday, February 17, 2009 A tentative plan to overhaul Massachusetts' transportation system by using GPS chips to charge motorists a quarter-cent for every mile behind the wheel has angered some drivers. "It's outrageous, it's kind of Orwellian, Big Brotherish," said Sen. Scott Brown, R-Wrentham, who drafted legislation last week to prohibit the practice. "You'd need a whole new department of cronies just to keep track of it." But a "Vehicle Miles Traveled" program like the one the governor may unveil this week has already been tested — with...
  • Pawlenty wants Minnesota to test mileage tax

    03/20/2009 3:35:28 PM PDT · by WOBBLY BOB · 63 replies · 1,457+ views
    MPR ^ | 3-18-09 | tim nelson
    State officials say Minnesota is working on a pilot program to test the idea of charging drivers for each mile they drive. Other states around the country are considering a vehicle mileage tax, as revenues from the gas tax are expected to decline.
  • New meaning for 'Road Tax'

    07/13/2009 5:00:40 PM PDT · by Tolerance Sucks Rocks · 23 replies · 1,827+ views
    GOPUSA ^ | July 13, 2009 | Henry Lamb
    Sara was late for work. The alarm clock didn't alarm, the kids were unusually slow getting ready for school, and nothing went right. She finally got to her car -- a brand new 2020 Chevy Adventure. She touched the finger-print secured start button. Nothing. It wouldn't start. She touched it again. Nothing. Furious, she banged the steering wheel with her fist. Then she noticed the paper hanging from the receipt printer on the dash. "Your designated visa account rejected your Road Use Tax in the amount of $87.32 for the month of June, 2020. You must insert a valid account...
  • Congressman wants government GPS in cars

    08/05/2009 7:48:11 PM PDT · by Man50D · 81 replies · 2,561+ views ^ | August 05, 2009 | Bob Unruh
    An Oregon congressman says he wants to test having a government GPS unit in every car so a tax could be imposed on the miles driven. The proposal, H.R. 3311, which calls for a test project costing $150 million-plus, was introduced by Rep. Earl Blumenauer, D-Ore."Oregon has successfully tested a Vehicle Miles Traveled fee, and it is time to expand and test the VMT program across the country," he said in a statement on his website. "A VMT system can better assess fees based on use of our roads and bridges, as well as during times of peak congestion, than...
  • Bay Area Drivers Could Be Tracked By GPS, Taxed Per Mile Driven

    07/19/2012 6:49:49 PM PDT · by rawhide · 24 replies
    OAKLAND (KCBS) – Bay Area drivers could one day be tracked using a GPS-like device in their cars and taxed per miles driven – a scenario which is part of a proposed long-range study aimed at finding ways to reduce traffic and pollution, while also raising revenues. Members of the Metropolitan Transportation Commission and the Association of Bay Area Governments are scheduled to vote on Thursday on whether or not to authorize a study of the proposal. Under the plan, drivers would have to install trackers in their vehicle and officials would tax drivers for every mile they travel. “We’re...
  • New pay-per-mile scheme would boost taxes 250 percent

    01/14/2013 2:32:31 PM PST · by lowbridge · 82 replies ^ | january 14, 2013 | paul bedard
    An on-again, off-again move by the Obama administration to scrap the federal gas tax in favor of a pay-per-mile fee would boost the tab to Americans as high as 250 percent, raising their current tax of 18.4 cents a gallon to as high as 46 cents, according to a new government study. But without a tax increase, said the Government Accountability Office study, the government's highway fund is going to go dry. One reason the fund is going broke: President Obama's push for fuel efficient cars has resulted in better mileage, and fewer stops at the pump. The GAO study...
  • Mainers invited to become track-your-car guinea pigs

    07/16/2009 7:16:47 AM PDT · by BGHater · 10 replies · 847+ views
    The Portland Press Herald ^ | 15 July 2009 | Beth Quimby
    It's all in the name of research on finding a better way to tax motorists, and the pay is $895. Wanted: 250 Maine drivers willing to let a stranger put a black box under their dashboard. The reward: $895 and the opportunity to speak their minds about the highway tax experiment to a researcher. University of Iowa researchers are seeking 250 motorists in Cumberland, York and Sagadahoc counties willing to have a computer tracking system installed in their cars for 10 months. The system could someday be used to tax drivers according to the number of miles they drive, rather...
  • White House confirms: Obama Budget Contains Middle Class Income Tax Hike

    04/09/2013 8:26:37 PM PDT · by logi_cal869 · 25 replies
    Americans for Tax Reform ^ | 4/9/2014 | John Kartch
    White House spokesman Jay Carney “not disputing” Obama budget would “raise taxes on middle class Americans.” The White House has confirmed that President Obama’s forthcoming budget contains an income tax increase on middle class Americans. During a Friday, April 5 White House press briefing, spokesman Jay Carney replied “I’m not disputing that” when asked if a particular Obama budget proposal would raise income taxes on the middle class. The proposal in question is known as “Chained CPI.” The term is a Beltway euphemism for measuring inflation at a different, slower pace. Many tax and budget items are indexed to inflation,...
  • E-Edition

    03/12/2013 11:36:02 AM PDT · by Gopher Broke · 1 replies
    EDITORIAL: Governor Disappointment The failed leadership of Virginia’s Bob McDonnell The surest and quickest way for a Republican officeholder to kill his future is to dream up a tax increase. Once a rising star in the Grand Old Party, a shortlist contender as Mitt Romney’s running mate and a twinkle in the eye of the Great Mentioner for 2016, Gov. Bob McDonnell of Virginia has disappeared from the speakers’ lists at key conservative events, such as the Conservative Political Action Conference, which begins Thursday in Washington. There’s good reason for the snub. As a candidate in 2009, Mr. McDonnell promised...
  • List of Virginia’s 2013 Transportation Tax Hikes

    03/07/2013 5:54:26 AM PST · by Gopher Broke · 3 replies
    Thanks, Governor Bob McDonnell (R) and Speaker Bill Howell (R) Virginia’s 2013 state legislative session will be remembered for a lot of reasons. It was the year Republicans redistricted state senate districts to win more seats and then said just kidding, the year Republicans agreed to expand Medicaid in exchange for higher taxes (confused? Me too.), and most significantly, it was the year a Republican Governor worked with Democrats to raise taxes on Virginia families by $1.23 billion per year. Congratulations, Virginia. In honor of a precedent set forth by Nancy Pelosi in Washington, the state legislature decided that they...
  • Virginia Gov. Bob McDonnell sides with business over conservatives

    02/28/2013 11:01:10 AM PST · by Gopher Broke · 15 replies
    "Conservative" does not mean the same thing as "pro-business," as Virginia Gov. Bob McDonnell has demonstrated. McDonnell -- whose three-year record is mostly characterized by conservative policies -- this week won the largest tax hike in state history and a package of new spending on transportation. Cheering him on was Virginia's business lobby. The tax-hike-and-roads package fits well into a pattern of McDonnell veering from his conservative principles when the business lobby wants more government. McDonnell, for instance, has subsidized favored businesses and industries through tax credits and special incentives. Also, Virginia's dependence on the military-industrial complex and the "Beltway...
  • LISTEN: Virginia House Approves Transportation Funding

    02/22/2013 12:53:51 PM PST · by Perdogg · 18 replies
    Virginia's House of Delegates has voted to approve what would become the first major reform in a generation of the state's system for financing its highway network. Friday's vote was 60-40.
  • McDonnell transportation plan hits Democrat wall in Senate (Dems Kill McDonnell Tax Hike)

    02/06/2013 6:59:09 AM PST · by fractionated · 2 replies
    Hampton Roads Daily Press ^ | February 5, 2013 | Todd Allen Wilson
    Senate Democrats killed Gov. Bob McDonnell's comprehensive transportation funding plan that eliminates the state's gasoline tax in exchange for raising the sales tax to 5.8 percent Tuesday, just hours after the House of Delegates passed an amended version of the package. Senate Republicans offered two new versions of the plan that would have taxed gasoline at the wholesale level without increasing the sales tax, to no avail. The original measure's sponsor, Sen. Stephen Newman, introduced a new version of the bill that would have done away with the gas tax at the pump, and instead offer a wholesale gas tax...
  • Putting America's Tax Hike In Perspective (This one picture tells us where the real problem is)

    01/01/2013 4:15:06 PM PST · by SeekAndFind · 4 replies
    Zero Hedge ^ | 01/01/2013 | Tyler Durden
    One of those occasions when one picture really does speak a thousands words.Houston, we may have a spending problem.
  • So, Why Don't We Ask For An Immediate 15% tax Hike on All "Rich" Federal Workers?

    12/06/2012 10:52:53 AM PST · by Robert A. Cook, PE · 43 replies
    NA | 12-6-2012 | RA Cook
    So, Obama is fixated - to the point of a "religious" Crusading zealotry - with raising taxes on the rich? (Even if it means reducing total tax revenues by stifling the economy, sending us back into an ever-steady recession.) OK. So, even if it won't clear the deficit, why don't we " raise taxes on the rich" ... by passing an immediate, across the board "progressive" tax on all non-defense federal employees and retirees? Anyone making a total of over $150,000.00 per year (bonus and salary and retirements) gets a 15% tax. Anyone making a total of over $100,000.00 per...
  • Republicans weigh swallowing tax hike on the wealthy

    12/05/2012 1:55:36 PM PST · by NormsRevenge · 23 replies
    Yahoo! Health ^ | 12/5/12 | Richard Cowan - Reuters
    WASHINGTON (Reuters) - While Republican leaders in the House of Representatives insist that raising tax rates on the rich is an impossibility, some Republican lawmakers now see it as inevitable to avoiding the "fiscal cliff" of severe tax hikes and spending cuts set to start January 1. Congressional aides, who asked not to be identified, said Republicans are losing the public relations battle over keeping low tax rates for the rich and are getting battered by President Barack Obama and his fellow Democrats in Congress following their November 6 election victories. On Capitol Hill aides often play an important role...
  • Poll: [Jerry] Brown tax hike falling short

    10/25/2012 1:20:41 PM PDT · by WilliamIII · 25 replies
    UT San Diego ^ | Oct 25 2012 | UT San Diego
    Gov. Jerry Brown’s initiative that would raise taxes to help pay for schools and local public safety programs continues to lose ground among likely voters, slipping below the all-important majority approval mark for the first time in a new poll. The survey by the nonpartisan Public Policy Institute of California released Wednesday night found that support for Brown’s Proposition 30 stands at 48 percent, posing a challenge for the governor to win over a majority of voters with less than two weeks before they go to the polls Nov. 6. Forty-four percent are opposed.
  • Obama’s Middle-Class Tax Hike

    10/04/2012 5:29:56 AM PDT · by SeekAndFind · 2 replies
    National Review ^ | 10/04/2012 | The Editors
    Democrats have been saying — or, in the case of Joe Biden, trying to say — that Mitt Romney plans to raise taxes on the middle class. This claim is flatly untrue. The word “lie” probably is thrown around too casually in our politics, but this qualifies. Romney has no such plan, has forsworn taking such a course of action, and has in fact proposed to cut tax rates for the middle class — and everybody else who pays the federal income tax — by reducing all brackets by 20 percent. Romney’s plan would be revenue-neutral, making up for forgone...
  • Obam's "Populist" Tax Platform Puts Retirees at Risk

    07/10/2012 5:59:56 AM PDT · by Innovative · 4 replies
    Yahoo Finance ^ | July 10, 2012 | Josh Brown
    President Obama on Monday reiterated his push to extend the Bush Tax cuts for the middle class but not the 2% of U.S. households making more than $250,000. But millions of middle class Americans are at risk of higher taxes if no action is taken before Jan. 1, notes Josh Brown, vice president of Fusion Analytics and author of The Reformed Broker blog. Specifically, Brown is concerned about the sharp rise in taxes on dividends and capital gains that will occur as part of the so-called fiscal cliff -- or "taxmageddon" if you prefer. If Congress fails to act, the...
  • Miller pushes for a broader tax increase in Maryland budget talks

    04/24/2012 4:40:31 PM PDT · by Tolerance Sucks Rocks · 4 replies
    The Washington Times ^ | April 23, 2012 | David Hill
    ANNAPOLIS — Senate President Thomas V. Mike Miller Jr. is pushing for broader income-tax increases and a last-ditch attempt at expanding gambling as lawmakers look toward a possible special session, but the House appears reluctant to embrace either proposal. Mr. Miller will meet Tuesday with Gov. Martin O'Malley and House Speaker Michael E. Busch to discuss the scope of a potential special session, during which the General Assembly likely would pass several tax and revenue increases to cancel out $512 million in cuts resulting from their failure to pass the increases at the regular session’s close. Mr. Miller is waging...
  • California’s.. $170 Billion Dollar Tax Hike..?

    04/17/2012 4:41:41 PM PDT · by cakid1 · 6 replies
    cbs47 ^ | 4-17-12 | cakid1
    California’s.. Dueling Multi-Billion Dollar Tax Hikes.. Vote for my tax hike. No vote for my tax hike instead. No, vote for both of the tax hikes. California residents are starting to get a sample of the ads running for competing muti-billion dollar tax hike plans. Millionaire Molly Munger is now running ads pushing her multi-billion dollar tax hike measure on the November ballot. (If passed the Munger tax would collect $10 billion dollars per year for the next 12 years = $120 billion dollar tax hike) Meanwhile Governor Jerry Brown is still trying to get his multi billion dollar tax...
  • Beware the Taxmageddon

    04/05/2012 9:27:21 AM PDT · by IbJensen · 4 replies
    Canada Free Press/Heritage Foundation ^ | 4/5/2012 | Heritage Foundation-Mike Brownfield
    Brace yourself. In a mere 271 days, you and your fellow Americans will be hit with a tax hike the likes of which this country has never seen. The Washington Post aptly called the unprecedented $494 billion tax hike “Taxmageddon,” and Federal Reserve Chairman Ben Bernanke described it as a “massive fiscal cliff.” Whatever your preferred imagery, it’s a really big deal. Despite all the warnings, President Barack Obama has kept his silence while Congress has made no apparent effort to prevent this impending calamity to families and the economy. The prevailing wisdom is that “something will get done” in...
  • $494 billion tax increase to hit in 2013

    04/10/2012 8:02:44 PM PDT · by Free ThinkerNY · 26 replies
    The Daily Caller ^ | April 10, 2012 | Caroline May
    It will be up to Washington to save the country from what the Washington Post has dubbed “Taxmageddon” — the looming tax increase set to hit Americans on Jan. 1. Curtis Dubay, a senior analyst in Tax Policy at the Heritage Foundation, has chronicled the taxes set to hit if Congress and the administration do not make adjustments. According to Dubay, Americans will see a $494 billion tax increase at the beginning of 2013. “[The tax increase] is hitting because of expiring tax policies and the beginning of five taxes in Obamacare,” Dubay told The Daily Caller. Dubay’s study of...
  • 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...
  • O’Malley seeks support for Maryland gas tax hike

    03/14/2012 4:45:44 AM PDT · by Tolerance Sucks Rocks · 17 replies
    The Washington Times ^ | March 13, 2012 | David Hill
    ANNAPOLIS — Gov. Martin O'Malley will go before House and Senate committees Wednesday and ask them to raise the state’s gas tax, but he might get drowned out by the talk from constituents back in lawmakers’ home districts. Mr. O'Malley, a Democrat, has clung to the proposal in recent weeks even as skepticism of the plan has mounted in the face of rising gas prices and persistent objections from the public. The governor says the tax increase is a necessary investment in the state’s congested, too-long-ignored road and transit infrastructure. But with gas prices climbing toward $4 a gallon, leading...
  • Maryland Senate Democrats Favor Across-The-Board Hike To Personal Income Taxes

    03/04/2012 12:22:32 PM PST · by Lmo56 · 27 replies
    Wa Po ^ | 3/3/12 | Aaron C. Davis
    Maryland Senate Democrats have coalesced around a plan to jettison Gov. Martin O’Malley’s array of proposed tax increases on six-figure earners in favor of a simpler, but no less controversial, across-the-board hike to Marylanders’ personal income taxes. A majority of the Senate’s Budget and Taxation Committee, which could vote on the plan as early as this week, said in interviews Friday that they have felt too much public resistance to O’Malley’s (D) plan to cut the state’s structural deficit by capping personal deductions and exemptions for residents making $100,000 or more. O’Malley’s proposal has been derided by homeowners groups and...
  • Rising gas prices start to sink O’Malley’s tax hike

    03/02/2012 4:38:39 AM PST · by Tolerance Sucks Rocks · 29 replies · 225+ views
    The Washington Times ^ | March 1, 2012 | David Hill
    ANNAPOLIS —Gov. Martin O'Malley’s proposal to increase the state’s gasoline tax is looking more and more far-fetched because of rising gas prices and persistent public outcry, say state lawmakers from both parties. The Democratic governor’s bill to phase in a 6 percent sales tax on gas has been met with skepticism from Republicans and moderate Democrats in the General Assembly. Now with gas prices climbing toward $4 a gallon and lawmakers focused on fine-tuning a state budget that could include several other tax increases, some legislators say they are running low on time and political will to tack on a...
  • Tell your VA Senator to vote NO on SB 631, a bill to hike gas taxes

    02/13/2012 10:36:58 AM PST · by Gopher Broke · 27 replies
    It is amazing how much legislators forget while they are in Richmond. While their constituents are home balancing their budget and making do with much less, the Senate of Virginia is supporting efforts to increase taxes. This week, the Virginia State Senate will consider a bill that will increase the gas tax (SB 631). The sponsor of the bill calls this an “inflation adjustment,” but AFP-VA is calling this a tax increase on hard working families of Virginia. Increasing the gas tax will drive up consumer costs; unfairly hurting the less fortunate and the unemployed. Tell your Legislators you oppose...
  • Harry Reid's Jobs Surcharge (A temporary payroll tax cut paid for by permanent tax increases)

    12/05/2011 9:24:06 AM PST · by Qbert · 4 replies
    WSJ ^ | 12/2/2011 | WSJ
    So here's the latest Democratic growth plan: Pay for a temporary tax cut that has already proven not to create jobs with a permanent tax increase that almost certainly will cost jobs. That's the essence of Senate Majority Leader Harry Reid's plan to finance a one-year payroll tax cut with a 3.25% income tax surcharge on upper-income Americans that would last for at least 10 years. Mr. Reid knows it can't pass the House, and as we went to press it looked likely to fail even in the Senate. But this is the way it goes in the Senate these...
  • Reversion to the Clinton tax hikes: Time to rethink what our government has become

    11/15/2011 7:41:26 AM PST · by SeekAndFind · 3 replies
    Hotair ^ | 11/15/2011 | J.E. Dyer
    As we read more and more about the US federal government handing out money – borrowed-against-our-future money – to the private enterprises of Obama’s campaign donors, it is heart-warming to remember that the tax code is scheduled to revert on 1 January to what it was under Bill Clinton.This means that unless the Super Committee comes to an agreement to avert it, you are almost guaranteed to have a larger federal income tax bill next year.Money-manager-types explain, each time we reach this precipice, that going back to the Clinton tax code means virtually everyone who pays now will pay more....
  • Bachmann says all Americans should pay taxes

    11/03/2011 6:39:14 AM PDT · by WOBBLY BOB · 65 replies
    pioneer press ^ | 11-3-11 | Philip Elliott
    DES MOINES, Iowa - Republican presidential hopeful Michele Bachmann is telling college students in politically important Iowa that all Americans should pay taxes since they all benefit from services such as roads and bridges, national defense and the courts. Her position, which she was outlining today at Iowa State University in Ames, is a direct challenge to rivals Rick Perry and Herman Cain, who are advocating plans that would allow low-wage earners to continue paying no taxes while implementing a form of a flat tax on all other workers. The Tax Policy Center estimates that some 46 percent of households...