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Keyword: taxreform

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  • How Barack Obama Killed Tax Reform in Its Infancy

    08/08/2014 2:06:13 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | August 8, 2014 | Donald Lambro
    WASHINGTON - There's a much bigger, largely untold story behind the renewed debate over U.S. corporations who merge with foreign firms to reduce their federal tax bills. The latest chapter in the story concerns Walgreen, the nation's largest drugstore chain, which plans to go ahead with a cash and stock purchase of a Swiss company that could have resulted in a big tax cut on its corporate profits. Walgreen, however, decided against moving overseas, saying it plans to keep its corporate roots in the U.S. But the back-story involves far more fundamental issues that the news media either played...
  • The IRS: A Public Monument to Sandra Fluke's Privates

    07/26/2014 4:54:09 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | July 26, 2014 | John Ransom
    At 74,000 pages, the IRS code is a mind-boggling ode to lobbying, pork-barrel spending and graft. These are the only good things that I can say about the IRS. Ode may be too friendly a word, however. Let’s instead call it an incantation for our country. Because the code holds a country in thrall like the winged monkeys in Dorothy’s Oz were held. And until the witch is dead, we monkeys must do her bidding. Politicians, economists and ordinary citizens can’t follow the tax code, which has tripped up cabinet nominees, majority leaders and others who ought to know...
  • Tax Reform Useless Without Spending Reform

    05/20/2014 2:26:04 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | May 20, 2014 | Ron Paul
    Recently, Republican leaders in Congress unveiled a "tax reform" plan that they claimed would provide the American people with a simpler, fairer, and more efficient tax system. While this plan does lower some tax rates and contains some other changes that may make next April a little less painful for Americans, there is little in it to excite supporters of liberty. Taxes may even increase under this plan for some Americans, as it eliminates some of those tax deductions labeled “loopholes.” When I served in Congress I opposed bills that “closed loopholes” because closing loopholes is just a fancy way...
  • The influence pedlers in D.C. don't want the IRS code changed

    . Is it possible that the people in Washington D.C. who sell their influence and the rest of the people in Washington D.C. that are buying that influence don’t want to solve the problem? Senators and Representatives often talk about simplifying the tax code but it never happens. The very complexity of the tax code creates an enormous opportunity for special interest lobbyists in Washington. Given the large campaign war chests amassed by incumbents from special interest lobbyists and the companies they represent I think that we can correctly surmise why the tax code exists as it does.
  • Some Good News on Tax Reform (if You're a Fan of the Flat Tax)

    04/19/2014 5:58:27 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | April 19, 2014 | Daniel J. Mitchell
    I’m ecumenical on tax reform. I’ll support any plan that rips up the internal revenue code and instead lowers tax rates, reduces double taxation, and cuts out distorting loopholes. And as I explain in this interview, both the flat tax and national sales tax have a low tax rate. They also get rid of double taxation and they both wipe out the rat’s nest of deductions, credits, exclusions, preferences, and exemptions. Dan Mitchell Commenting on the Obstacles to Tax Reform for Blaze TV You’ll notice, however, that I wasn’t very optimistic in the interview about the possibility of replacing the...
  • A Truly Absurd Tax Code Illustrates the Need for Rational Reform

    04/16/2014 6:52:44 AM PDT · by SeekAndFind · 7 replies
    RCM ^ | 04/16/2014 | Alex Brill
    Tax season is over for all but the greatest procrastinators among us. Two-thirds of taxpayers are celebrating their forthcoming refunds while tens of millions of others have grudgingly written a check to the IRS. Either way, this is the time of year when Americans are most acutely aware of the federal income tax system and all its flaws. Our tax code is extraordinarily difficult to navigate and it sometimes seems that it's more concerned with advancing social and industrial policy goals than raising the money needed to fund government. The plethora of preferential deductions and credits that narrow the tax...
  • Why Did Western Nations Continue to Prosper in the 20th Century even though Fiscal Burdens Increased

    04/12/2014 12:21:13 PM PDT · by Kaslin · 11 replies
    Townhall.com ^ | April 12, 2014 | Daniel J. Mitchell
    In the pre-World War I era, the fiscal burden of government was very modest in North America and Western Europe. Total government spending consumed only about 10 percent of economic output, most nations were free from the plague of the income tax, and the value-added tax hadn’t even been invented. Today, by contrast, every major nation has an onerous income tax and the VAT is ubiquitous. These punitive tax systems exist largely because – on average - the burden of government spending now consumes more than 40 percent of GDP. To be blunt, fiscal policy has moved dramatically in the...
  • A FairTax question - are investment transactions included as taxable end-user purchases? (vanity)

    04/08/2014 9:36:35 AM PDT · by lump in the melting pot · 5 replies
    my lumpy little brain | 04/08/2014 | me
    An honest inquiry. I'm a big supporter of tax reform in general, and the FairTax in particular sounds like a very good proposal to me. Query as to whether investment purchases (stocks / bonds / ETFs / etc.) are included in the FairTax plan, and if so, at what rate (same as consumer purchases or different)? Opinions welcome as to whether this is or is not a good idea (increased tax base plus encouraging investing as a long-term purchase, vs. possible detriment to the financial market)? Thanks in advance, the lump.
  • Tax reform proposal threatens charities

    04/03/2014 1:35:08 PM PDT · by Graybeard58 · 2 replies
    Baptist Press ^ | Apr 1, 2014 | J.C. Derrick & David Roach
    WASHINGTON (BP) -- Charities could face dwindling donations if Congress adopts a new tax reform proposal introduced by Rep. Dave Camp, R-Mich., chairman of the House Ways and Means Committee. Camp's long-awaited plan to overhaul the tax code, introduced last month, has received some positive reviews, but charitable organizations say it could cost them billions in donations. "I know Chairman Camp wants charitable giving to go up, [but] his discussion draft does not [promote] that," said David Wills, president of the National Christian Foundation (NCF). "It hurts charitable giving significantly." NCF is part of the Faith and Giving Coalition, which...
  • Major Tax Reform Efforts Look Likely to Stall Again

    03/31/2014 8:42:35 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | March 31, 2014 | Paul Dykewicz
    Advocates of comprehensive tax reform in the United States should expect to start over in the next Congress due to the dim prospects that anything major will happen before the current legislative year ends in December, a key U.S. senator said. A lack of consensus on tax reform issues and relatively little time to advance any legislation -- without the long-shot possibility of becoming an amendment to a broad budget bill -- leave little hope to make any progress on the short term, said Sen. Benjamin Cardin, D-Md.). Whether you agree with Sen. Cardin’s politics or not, he is...
  • Bill Gates Is Half-Right about Tax Reform

    03/21/2014 11:30:11 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | March 21, 2014 | Daniel J. Mitchell
    I generally get very suspicious when rich people start pontificating on tax policy. People like Warren Buffett, for instance, sometimes advocate higher taxes because they’re trying to curry favor with the political elite. Or maybe they feel compelled to say silly things to demonstrate that they feel guilty about their wealth. Regardless, I don’t like their policy proposal (as you can see from TV debates here and here). That being said, I also realize that stereotypes can be very unfair, so it’s important to judge each argument on the merits and not to reject an idea simply because it comes...
  • Tax Reform Should Begin With Eliminating Corporate Taxes

    03/19/2014 7:20:24 AM PDT · by SeekAndFind · 58 replies
    IBD ^ | 03/18/2014 | LAURENCE J. KOTLIKOFF
    My daydream is to lock all members of Congress and the president in a classroom with a big whiteboard and not let them out until they can pass a basic test in public finance. The first thing I'd teach them about is tax incidence — who really bears the burden of a tax. Our politicians seem to think the burden of taxes falls on those who they require to pay, as in remit or transmit or hand over or submit or mail in, the tax. This is entirely off base. Who bears the burden of (is hurt by) a tax...
  • Recalling the Days When Democrats Cut Taxes

    03/06/2014 8:01:03 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | March 6, 2014 | Larry Kudlow
    Fifty years ago last week, on Feb. 26, 1964, President Lyndon B. Johnson signed into law the sweeping tax cuts that had been championed by his predecessor, John F. Kennedy. The law brought the top marginal income-tax rate down to 70% from 91% and the bottom marginal rate down to 14% from 20%. The 22 rates in between also were cut. The tax legislation of 1964 was one of three major across-the-board income-tax cuts in the 20th century. The others took place in the 1920s, during the Warren Harding and Calvin Coolidge administrations, and in 1981 and 1986 during...
  • Will Senator Ted Cruz and “conservatives” offer real tax reform this coming election?

    12/31/2013 7:42:46 PM PST · by JOHN W K · 29 replies
    12/31/13 | johnwk
    With the 2014 election just around the corner “conservatives” have the opportunity to win the hearts and minds of the American people by offering real tax reform. Have most Americans not witnessed the progressive’s disastrous and slavish experiment associated with the 16th Amendment and taxes levied on incomes without apportionment? Have we not recently seen how this very tax has been used during election time to punish and harass those who dare to speak out and against our despotic federal government? Have we not also witnessed for generations how this despicable tax is used by our federal government to...
  • Leading on Tax Reform: Here's Sen. Mike Lee's Plan

    09/18/2013 6:56:14 AM PDT · by SeekAndFind · 6 replies
    National Review ^ | 09/18/2013 | The Editors
    Yesterday Senator Mike Lee, the Utah conservative, announced an ambitious plan to reform taxes — much the most attractive one we have heard from any Republican for a long time. The plan would cut tax rates, simplify the tax code, and rid it of several features that distort our economy and society. The tax increases that have taken place under President Obama would be undone. The mortgage-interest deduction would be scaled back. And the deduction for state and local taxes would be eliminated: Low-tax states would no longer subsidize high-tax ones, and the federal government would no longer soften voters’...
  • Testimony Before the House Committee on Ways and Means Hearing on Fundamental Tax Reform

    08/02/2013 11:10:46 AM PDT · by Taxman · 29 replies
    self ^ | 08/02/13 | Captain Frank L. Davis, Jr., USNR (Ret)
    Statement of Frank L. Davis, Jr., Co-Founder, Executive Vice President and National Director of Legislative Affairs, National Retail Sales Tax Alliance Testimony Before the House Committee on Ways and Means Hearing on Fundamental Tax Reform Mr. Chairman, Mr. Rangel and Members of the Committee; my fellow Americans. It is a privilege to be asked to testify this afternoon. My name is Frank Davis. I am a retired Naval Reserve Aviator, having spent 28 1/2 years in active and reserve service to my country. I consider myself still serving, albeit in a somewhat different capacity, but with the same goal in...
  • Tax reform proposals to be secret for 50 years

    07/26/2013 7:40:02 AM PDT · by TexasCajun · 63 replies
    CNNMoney.com ^ | July 25, 2013 | NEW YORK (CNNMoney)
    Tax reform is apparently so treacherous for senators these days that they require the utmost protection from the public -- half a century's worth. The leaders of the Senate Finance Committee last month asked senators to submit written proposals detailing tax breaks they'd like to see preserved once the tax code is reformed and explain why. The point was to help inform committee leaders in their efforts to craft a tax reform bill. The request apparently wasn't embraced, and the committee has now promised skittish senators that their proposals will be kept secret for 50 years. A memo sent out...
  • Senate Dems to GOP: Give us tax hikes or you get no tax reform

    07/26/2013 10:54:42 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | Kevin Glass | Kevin Glass
    Over the last two years, a groundswell of movement has happened behind the scenes on Capitol Hill. Rep. Dave Camp (R-Mich.) has been working to convince his colleagues of the need for tax reform. Recently, Max Baucus has begun to spearhead that same initiative on the Senate side. And indeed, with Orrin Hatch signed on, it has looked like this is something that could happen.It’s important to note that we’re only talking about tax reform, not cuts. That’s what has kept this tenuous bipartisan movement together. The approach is largely revenue-neutral and would likely end up distributionally similar to what...
  • Reform The Tax Code

    06/06/2013 6:37:16 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | June 6, 2013 | Michael Reagan
    Jay Leno told his studio audience the other night that President Obama should forget his plans to close the detention camp at Guantanamo Bay and instead close the IRS. The applause was instantaneous and the laughs were loud and genuine. Most ordinary Americans would have whooped and hollered in favor of Leno's idea long before they learned the IRS has been caught targeting conservative political groups and wasting millions on moronic employee-training conferences. But the IRS is no joking matter. The average working American -- poor or rich or in-between -- hates and fears the IRS for good reason. Able...
  • Will IRS scandal give momentum to tax reform?

    06/04/2013 7:53:14 AM PDT · by SeekAndFind · 18 replies
    Hotair ^ | 06/04/2013 | Ed Morrissey
    Last week, I argued that the political corruption at the IRS revealed last month should give momentum to throwing out campaign-finance “reform” regulation, and produce massive simplification through the end of direct donations and the imposition of immediate transparency. That would effectively strip the IRS of any role in policing political activities, a role which it should never have had in the first place. To reduce the ability of the IRS to conduct mischief through other means, Congress needs to simplify the tax code as well, Rep. Peter Roskam argues in Roll Call, and the scandal may have finally provided...
  • What Are Taxes FOR Anyway ?

    05/18/2013 11:36:52 AM PDT · by knarf · 51 replies
    self ^ | Mayt 18, 2013 | knarf
    I got to thinking about all this tax talk on another thread and I wondered ... what do we need taxes FOR in the first place ...
  • The Republican Party's Road Back to Victory

    05/11/2013 11:50:13 AM PDT · by Innovative · 21 replies
    Real Clear Politics ^ | May 10, 2013 | Peter Wehner
    If Republican leaders were to fully embrace a conservative reform agenda, it would address pressing national needs. It would position the GOP as forward looking, contemporary, and have appeal to swing voters. It would demonstrate a commitment to a brand of conservatism that is practical rather than narrowly ideological. And it contrasts well with today’s reactionary liberalism, by which I mean liberalism that opposes virtually every effort to reform institutions and programs that are sclerotic, outdated, and ineffective. .... There are five obvious areas for Republicans to focus on, beginning with entitlement reform ... A second area Republicans should focus...
  • Dave Camp and the Charge of the Republican Light-Headed Brigade

    04/25/2013 3:43:50 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | April 25, 2013 | Hugh Hewitt
    Political and policy fiasco alert: The GOP Chairman of the House Ways & Means Committee is gearing up to waste the House Republican Majority's energy, time and political goodwill on a doomed-to-fail scheme that conservative realists know cannot emerge from Congress. The price of pursuing this strategy will be the loss of many good and necessary initiatives that could get done, initiatives that could unify and energize the voting public behind an expanded GOP House majority in 2014 and gains in the Senate as well. The consequence of this strategic blunder could be the loss of the House majority. Everybody...
  • Bobby Jindal’s Income-Tax Repeal: It’s not dead yet.

    04/11/2013 7:27:10 AM PDT · by SeekAndFind · 1 replies
    National Review ^ | 04/11/2013 | Patrick M. Gleason
    Reading the Wall Street Journal, New York Times, Bloomberg, and pretty much every other news outlet, one would think that Governor Bobby Jindal has given up on his efforts to eliminate the Louisiana income tax. But in fact, pretty much every reporter who has written on this has the story wrong. In his State of the State address on the first day of the 2013 session of the Louisiana legislature this week, Jindal announced that he was “parking” the tax-reform proposal that he unveiled last month, in response to opposition from the public and members of the legislature. While his...
  • Jindal backs off of his tax reform plan: “Let’s work together” (Too much, too soon)

    04/08/2013 7:08:01 PM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 04/08/2014 | Erika Johnsen
    Earlier this year, Louisiana Gov. Bobby Jindal promised to undertake the major task of simplifying the state's tax code in the interests of promoting economic competition, business friendliness, and job growth; and last month, he unveiled his plan to get rid of income and corporate taxes in favor of a sales tax increase from 4 to 5.88 percent. There was quite a lot of grumbling about the specifics of his plan, however, and in a surprise move on Monday, he opened the 2013 legislative session with the announcement that he’s going to at least temporarily shelve his proposal in favor...
  • Reuters: Louisiana Governor Jindal's popularity slumps after bold tax plan

    04/07/2013 7:27:45 AM PDT · by SeekAndFind · 30 replies
    Reuters ^ | 04/06/2013 | Stephanie Grace
    (Reuters) - Louisiana Governor Bobby Jindal, one of the nation's most prominent Republicans and a possible 2016 presidential candidate, has fallen out of favor with local voters, and his bold plan to scrap the state income tax is running into trouble. Jindal was re-elected to a second term with two-thirds of the vote in 2011. But his Louisiana approval rating was down to 38 percent in a recent poll, worse than Democratic President Barack Obama in one of the most conservative states. The poll suggested voters think he is spending more time traveling outside the state and burnishing his credentials...
  • Total Tax-Code Termination? (Reality Check: no sweeping reform will please both sides)

    01/28/2013 8:33:34 AM PST · by SeekAndFind · 6 replies
    National Review ^ | 01/23/2013 | James Pethokoukis
    It would be the ultimate fiscal cliff. A group of House Republicans wants to put an expiration date on the 75,000-page U.S. tax code. The Tax Code Termination Act would require the repeal of the entire code in 2017 — except for the bits dealing with Social Security and Medicare — with a new system ready to go for the following year. Of course, the U.S. economy would benefit from major tax reform that eliminated the current bias against investment, axed crony-capitalist tax breaks, and lowered marginal rates on individuals and business as much as possible. But Republicans can put...
  • An idea for tax reform: Abolish the payroll tax

    12/26/2012 7:22:00 PM PST · by SeekAndFind · 26 replies
    Washington Examiner ^ | 12/26/2012 | Editorial
    If Republicans and Democrats are serious about tax reform in 2013, they should throw away the tired old playbook and consider bolder ideas to fundamentally change the flawed tax code. One such idea would be to eliminate the payroll tax. The payroll tax -- 12.4 percent, split between workers and their employers to help finance Social Security -- is one of the worst taxes on the books for several reasons. A basic economic principle is that when the government taxes something, the nation gets less of it. Because the payroll tax makes it more expensive and administratively burdensome for businesses...
  • The death of tax reform

    12/09/2012 9:02:10 AM PST · by george76 · 10 replies
    Washington Post ^ | December 6 , 2012 | Robert J. Samuelson,
    The story behind the story is that “tax reform,” as we know it, is dying. During the 1980s, no major piece of legislation better symbolized bipartisan consensus than the Tax Reform Act of 1986, which was regarded by both liberal and conservative experts as the best tax law since World War II. The basic idea was simple: Reduce tax rates and recover lost revenue by ending (or limiting) tax breaks. The struggle between President Obama and House Speaker John Boehner over the “fiscal cliff” indicates that this beneficial consensus has collapsed. Just the opposite is occurring. ... many politicians support...
  • In Communist Cuba, the Tax Man Cometh

    11/28/2012 8:01:41 AM PST · by Red Badger · 1 replies
    CNBC ^ | 11-28-2012 | Staff
    <p>Most Cubans have not paid taxes for half a century, but that will change under a new code starting January 1.</p> <p>The landmark regulations will change the relations of Cubans with their government and are a signal that market-oriented reforms, launched since President Raul Castro succeeded his brother, Fidel Castro, in 2008, are here to stay.</p>
  • The 2013 Sword of Damocles (Fairtax)

    11/09/2012 8:08:31 AM PST · by Hostage · 16 replies
    Vanity ^ | 11/9/2012 | Hostage
    In the aftermath of a surreal election shock, those that ponder how to organize their way forward should heed this plea to familiarize themselves with every detail and nuance of the most innovative and inspirational legislation that has more support in Congress than all other competing proposals. Here is an easy intro link: http://www.fairtax.org/site/PageServer?pagename=FAQs Like the Sword of Damocles in Greek mythology, the FairTax can be held over the heads of those that have ascended the throne of the most powerful nation under God that has ever existed in human history.
  • BAR STOOL ECONOMICS

    10/09/2012 12:50:15 PM PDT · by betty boop · 14 replies
    unknown | unknown
    BAR STOOL ECONOMICS Suppose that every day, ten men go out for a beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1.00 The sixth would pay $3.00 The seventh would pay $7.00 The eighth would pay $12.00 The ninth would pay $18.00 The tenth man (the richest) would pay $59.00 So that’s what they decided to do. The men drank in the bar every day and seemed quite...
  • OBAMA COULD BE THE ODD MAN OUT ON TAX REFORM (Michael Barone)

    09/13/2012 3:11:16 PM PDT · by neverdem · 2 replies
    Human Events ^ | 9/13/2012 | Michael Barone
    One of the services of the Simpson-Bowles Commission was to set out a path for tax reform, with lower income tax rates and removal of many tax preferences — or, to use the commission’s term, tax expenditures. It’s an approach that has been tried before and worked. Ronald Reagan called for such a reform in 1984, and after much negotiating, it was hammered out in 1986. Lead roles were played by Treasury Secretary James Baker; the Democratic chairman of the Ways and Means Committee, Dan Rostenkowski; and the Republican chairman of the Senate Finance Committee, Bob Packwood. It wasn’t easy...
  • Ryan's Budget Is Radical? Far From It

    08/14/2012 5:18:30 AM PDT · by IBD editorial writer · 2 replies
    Investor;s Business Daily ^ | 08/13/2012 | John Merline
    No sooner had Mitt Romney announced Paul Ryan as his running mate than Democrats and their backers started attacking the Wisconsin Republican as a "radical." President Obama's campaign manager, Jim Messina, immedi ately sent an email out to supporters calling Ryan the "author of a budget so radical the New York Times called it 'the most extreme budget plan passed by a House of Congress in modern times.'" [snip] But Ryan's budget plan is far from radical.
  • Obama moves on corporate-tax reform (in the wrong direction!)

    02/22/2012 9:37:34 AM PST · by SeekAndFind · 9 replies
    Hotair ^ | 02/22/2012 | Ed Morrissey
    Corporate tax reform has long been an opportunity for a win-win bipartisan effort in Washington. Everyone agrees that the corporate code needs significant changes, if not a complete overhaul; it's too complicated, too costly, and rewards the larger companies that can afford to analyze it for every possible benefit. Both parties have made corporate tax reform part of their plartforms, Democrats arguing that we need to close loopholes, Republicans that we need simplification and lower rates.The White House decided to go first on corporate tax reform: The Obama administration Wednesday will unveil a framework for reforming the corporate tax code...
  • Officials Return From Western Gas Fields ‘Invigorated’

    02/04/2012 8:58:39 PM PST · by greenwill · 18 replies · 1+ views
    Rocket-Courier ^ | 01/19/2012 | RICK HIDUK
    Participants in a recent shale gas energy conference held in Hobbs, New Mexico, referred to a whirlwind trip to Lea County, NM, as “exhausting” but “enlightening.” Bradford County Commissioners Doug McLinko, Mark Smith, and Daryl Miller, Susquehanna County Commissioner Mary Ann Warren and Pennsylvania state Rep. Tina Pickett were among local elected officials to partake in discussions and serve as guests on informative panels.
  • Commissioners visit New Mexico for natural gas conference

    01/30/2012 8:59:55 AM PST · by greenwill · 1 replies
    THe Daily Review ^ | 01/21/12 | JAMES LOEWENSTEIN
    TOWANDA - While Bradford County has experienced extensive gas drilling for a few years, what will it be like after the drilling has gone on for decades? The three Bradford County commissioners and other local officials had a chance to get a sense of what could happen when they traveled last week to participate in a two-day conference in Lea County, N.M.
  • Romney's Fair Share: The candidate's tax return is an argument for tax reform.

    01/25/2012 6:53:19 AM PST · by SeekAndFind · 7 replies
    If Mitt Romney's 2010 tax bill were merely his pretax income, he'd still be a member of the 1%—in other words, the government takes more of his wealth every year than 99% of Americans earn. But what the world really learned from the tax returns the GOP candidate released yesterday is that he is a walking argument for pro-growth tax reform. The details of Mr. Romney's six IRS schedules, eight forms and 69 income statements—totaling some 547 pages—are by now familiar. The Bain Capitalist made $21.7 million in 2010 and an estimated $20.9 million last year. He doesn't merely belong...
  • Obama jobs panel pushes tax reform, domestic drilling

    01/17/2012 1:56:58 PM PST · by NormsRevenge · 8 replies
    Yahoo ^ | 1/17/12 | Matt Spetalnick - Reuters
    WASHINGTON (Reuters) - President Barack Obama's jobs council called on Tuesday for a corporate tax overhaul, expanded domestic drilling and new regulatory reforms, a set of proposals unlikely to provide a quick fix for high unemployment or gain much traction in an election year. A panel of top U.S. business leaders advising Obama - whose re-election chances could hinge on whether he can boost the fragile economy - offered its latest job-creation prescriptions at a meeting with him at the White House. Obama pledged to "push as hard as possible" on their recommendations but also sought to temper expectations. "Obviously...
  • Cain: ‘Look for My Army on Capitol Hill’

    12/20/2011 1:03:38 PM PST · by Fred · 123 replies
    NRO Online ^ | 122011 | Robert Costa
    Herman Cain tells National Review Online that he will launch a new political-action committee in January. The outfit, whose final name remains under wraps, will be Cain’s main project next year. Its mission will be to enact his “9-9-9” economic plan. “We continue the campaign without a candidate,” says Cain, who hinted at the endeavor during his departure speech. “There are a lot of people who are willing to support the campaign for solutions without the end objective being my election as president of the United States.” As Cain transitions to private life, “Friends of Herman Cain,” the financial force...
  • U.S. Government Plans Tax-Reform Initiative...

    11/03/2011 4:53:22 PM PDT · by Steve Peacock · 2 replies
    U.S. Trade & Aid Monitor ^ | Nov. 3, 2011 | Steve Peacock
    U.S. Government Plans Tax-Reform Initiative... ... in Armenia!The U.S. Agency for International Development (USAID) said this week that it expects to award an estimated $5-10 million, four-year contract to assist the Armenian government in the areas of: (a) revenue policy formulation, strategic planning, revenue analysis and tax policy review and simplification; and the appeals policies, procedures and implementation carried out by the Ministry of Finance and (b) improving the SRC strategic planning, human resource management and internal control processes to better administer taxes and to enhance taxpayer trust and compliance. [emphasis added] USAID intends to release a more detailed Request...
  • L.A. Times Column: A tax reform fairy tale (GOP Proposals are entertaining but imaginary)

    11/01/2011 6:32:07 AM PDT · by SeekAndFind · 3 replies
    Los Angeles Times ^ | 11/01/2011 | Doyle McManus
    Tax reform proposals are the political equivalent of science fiction: entertaining but imaginary. No tax proposal ever passes through Congress unscathed. There are too many interests that believe their survival depends on tax preferences — hence the tax code's immutable tendency to accumulate complexities as a ship collects barnacles. Still, presidential candidates' tax proposals are useful windows into their philosophies. Should income taxes on the wealthy go up or down? Should income from investments be taxed at a different rate than income from labor? And should "tax reform," a goal everyone embraces, be used as a tool to shrink the...
  • Fundamental Tax Reform Is Now Unstoppable

    10/28/2011 9:54:33 PM PDT · by fightinJAG · 61 replies · 1+ views
    Forbes ^ | Oct. 26, 2011 | Louis Woodhill
    With Rick Perry’s call for a 20% Flat Tax, the movement for fundamental, pro-growth tax reform became unstoppable. Perry, Herman Cain, and Mitt Romney are now the only viable candidates for the Republican presidential nomination remaining. With both Cain and Perry now offering dramatic pro-growth tax reform proposals, Romney will either jump on the tax reform bandwagon or be left in the dust (or possibly both). The only pro-growth tax cuts in Romney’s 59-point economic plan are a reduction in the corporate income tax rate to 25% (from 35% today) and the elimination of the death tax. However, both Perry...
  • Will Perry Plan Shake Up The GOP Race?

    10/25/2011 12:52:32 PM PDT · by CaroleL · 7 replies
    TalkingSides.com ^ | 10/25/11 | CaroleL
    According to the latest New York Times/CBS News poll, 25% of Republican primary voters currently favor Businessman Herman Cain as the potential GOP presidential nominee, 21% prefer former Massachusetts Governor Mitt Romney and the rest of the field is at 10% or less. But the real headline is that 80% of respondents say they have yet to make up their minds. While the hopes for an exciting late entry (Chris Christie, Sarah Palin, etc.) have been dashed, that 80% who have yet to give their final answer offer a huge opportunity for existing candidates near the back of the pack...
  • Herman Cain perpetuates an evil of democracy !

    10/01/2011 3:37:24 PM PDT · by JOHN W K · 122 replies · 2+ views
    October, 1,2001 | johnwk
    I can’t imagine a true patriot proposing a new tax, a national consumption tax which would tax every necessity of life, in addition to keeping corporate taxes and taxes on the working person’s wage. I also can’t imagine a true patriot proposing a new general tax among the States [Herman’s national sales tax] to feed the beast in Washington, and ignoring the rule of apportioning that tax among the States as required by our founding fathers clear intentions. The rule of apportioning any general tax among the States was adopted by our founders to cure a vicious evil of democracy....
  • House Budget Committee video on Tax Reform

    09/14/2011 11:23:18 AM PDT · by SaraJohnson · 1 replies
    Paul Ryan does a good job of offering a Republican tax reform response to Obama's jobs bill monster.
  • Herman Cain’s 999 tax reform plan (how acceptable is it?)

    09/12/2011 7:47:35 PM PDT · by SeekAndFind · 44 replies
    Freedom Torch ^ | 09/08/2011 | Rich Helmold
    Anybody have an opinion on Herman Cain’s 999 tax reform plan? - It ends the Payroll Tax completely - Business Flat Tax – 9% - Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders - Empowerment Zones will offer additional deductions for payroll employed in the zone - Individual Flat Tax – 9% - Gross income less charitable deductions - Empowerment Zones will offer additional deductions for those living and/or working in the zone - National Sales Tax – 9% I don’t like it. This puts into effect both an income tax and...
  • Celebrating 'Cost of Government Day'

    08/11/2011 7:42:56 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | August 11, 2011 | Mattie Corao
    Despite the recent gains made in the debt limit negotiations, there is no amount of debt-shuffling that doesn't leave taxpayers footing the bill for Washington's spending problem. In its annual Cost of Government Day report, Americans for Tax Reform Foundation calculated that Americans worked until August 12 this year to pay for the full costs of government spending and regulation. The 'Cost of Government Day' report determines the day of the year on which the average Americans has made enough income to pay off the local, state and federal regulatory and spending burdens. This year, Americans work a full 224...
  • 2011 Cost of Government Day: August 12

    08/11/2011 8:04:08 AM PDT · by 92nina · 3 replies
    ATR ^ | 2011-08-10 | Mattie Corrao and John Kartch
    Every year, Americans for Tax Reform Foundation publishes its Cost of Government Day report, which calculates the day on the calendar year until which the average American must work to pay for the full costs of government spending and regulation. The study is available online at www.CostOfGovernmentDay.com “Highlights” of the report are as follows: Overall government burden: This year, Cost of Government Day falls on August 12, meaning Americans labor a full 224 days into the year to pay for local, state and federal government spending and regulations. Impact of Obama overspending: Americans have lost 29 days of the calendar...
  • Tax reform: The impossible dream?

    06/27/2011 6:32:19 AM PDT · by T.O.K. · 6 replies
    BizPac Review ^ | June 27, 2011 | Bill Martin
    The tax code has morphed from a device to fund essential government services into a tool to redistribute wealth. If we are going to redistribute wealth, everyone wants to be a winner, so it is no surprise that lobbyists are employed to gather more preferences and defend existing preferences. Effective tax rates on corporate income vary widely by industry, with petroleum, utilities and construction among the highest (30 percent to 33 percent) and some industries in single digits. The higher the statutory rate, the more valuable the preferences, and preferences breed complexity.