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Keyword: taxtherich

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  • Chant of 'tax the rich' growing louder in nation

    09/01/2011 8:37:21 AM PDT · by SmithL · 35 replies
    San Francisco Chronicle ^ | 9/1/11 | Carla Marinucci, Chronicle Political Writer
    Billionaire Warren Buffett may not seem to have much in common with angry laborers at town hall meetings or armies of California nurses protesting in the streets. But these days, the executive celebrity in his boardroom and working folks on the front lines have found a common mantra as the economy continues to sputter and the 2012 election approaches: "Tax the rich." They are joining Democratic politicians, such as U.S. Sen. Barbara Boxer of California, who pounded the issue of making "millionaires and billionaires pay their fair share" nearly a dozen times at a recent event in Oakland.The calls have...
  • After Quinn's Big Tax Hike, Illinois Has Lost More Jobs Than Any Other State

    09/01/2011 6:14:20 AM PDT · by george76 · 27 replies
    Business Insider ^ | Aug. 31, 2011 | Mike "Mish" Shedlock
    Thanks to Illinois governor Pat Quinn and the Illinois legislature Illinois Loses Most Jobs in the Nation. In a trend that continues to worsen, more Illinoisans found themselves unemployed in the month of July. Illinois lost more jobs during the month of July than any other state in the nation. ... When it comes to putting people back to work, Illinois is going backwards. Since January, Illinois has dropped 89,000 people from its employment rolls. A combination of high taxes, overspending and red tape do nothing but chase away job creators and leave too many citizens without jobs. Springfield needs...
  • Warren Buffett's Company Hasn't Paid All Taxes Owed In Years

    08/30/2011 10:22:25 AM PDT · by Beave Meister · 3 replies
    NewsBusters ^ | 8/29/2011 | Noel Sheppard
    Two weeks ago, when billionaire Warren Buffett called for higher taxes on rich people like him, the liberal media predictably gushed and fawned. Yet when Americans for Better Government revealed last week that Buffett's company Berkshire Hathaway has been in an almost decade-long dispute with the IRS over how much taxes it owes, these same press members couldn't care less: According to Berkshire Hathaway’s own annual report — see Note 15 on pp. 54-56 — the company has been in a years-long dispute over its federal tax bills. According to the report, “We anticipate that we will resolve all adjustments...
  • The Truth about Taxes, the Rich, and the Poor

    08/26/2011 2:05:47 PM PDT · by Kaslin · 8 replies · 1+ views ^ | August 26, 2011 | Craig Steiner
    For as long as I can remember, allegations and accusations about taxes and the rich and the poor have been a part of every election--well, except the current 2006 election which has not substantively addressed any issue other than Republicans prodding voters to "stay the course" and Democrats prodding voters to vote against Bush. But in a normal election, Democrats inevitably accuse Republicans of promoting tax cuts that benefit primarily the rich, and the slogan "The rich got richer while the poor got poorer" is something that no election can go without. The same arguments are made election after election, so when someone recently...
  • Washington Post: Taxing the rich fairly can be done — and would raise revenue

    08/24/2011 2:38:56 PM PDT · by SeekAndFind · 69 replies
    Washington Post ^ | 08/23/2011
    IT HAS BEEN a little over a week since billionaire Warren Buffett called for higher taxes on the richest Americans, and now comes the reaction. Harvey Golub, a former chairman and chief executive of American Express, writes in the Wall Street Journal that he “resents” Mr. Buffett’s suggestion. I already pay plenty of taxes, Mr. Golub asserts, adding: “Before you ‘ask’ for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely.” Who’s right? Mr. Golub points out that almost half of the population pays no income...
  • Expensive massages, top shelf vodka and five-star hotels: First Lady accused of spending $10m in

    08/24/2011 9:28:26 AM PDT · by Nachum · 372 replies
    Daily Mail ^ | 8/24/11 | Tamara Abraham
    The Obamas' summer break in Martha's Vineyard has already been branded a PR disaster after the couple arrived four hours apart on separate government jets. But according to new reports, this is the least of their extravagances. White House sources today claimed that the First Lady has spent $10million of U.S. taxpayers' money on vacations alone in the past year. Branding her 'disgusting' and 'a vacation junkie', they say the 47-year-old mother-of-two has been indulging in five-star hotels, where she splashes out on expensive massages and alcohol. The 'top source' told the National Enquirer: 'It's disgusting. Michelle is taking advantage...
  • America Now Has Fewer Millionaires: Liberals Want Income Equality – They Should Be Thrilled

    08/22/2011 1:16:37 PM PDT · by SeekAndFind · 28 replies
    Before It's News ^ | 08/20/2011
    There are fewer millionaires in America today – can you hear the celebration at the Blue Heron farm on Martha’s Vineyard where the Obama family is spending someone’s millions? Obama at Blue Heron Farm - 2009 Pullout quote: For the past three decades, the political left has obsessed about income inequality. As the economy experienced one of the largest and lengthiest economic booms in history from 1982-2007, the left moaned that the gains went to yacht club members. Well, if equality of income is the priority, liberals should be thrilled with the last four years. Wall Street Journal (great article...
  • Stop coddling the super-rich: Buffett (Obama supporter Warren Buffett admits fudging tax returns)

    08/15/2011 3:53:55 AM PDT · by tobyhill · 52 replies
    yahoo ^ | 8/15/2011 | By Santosh Nadgir
    Billionaire Warren Buffett urged lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments. "My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times. Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744. "That sounds like a lot of money. But what I paid...
  • Rep. James Clyburn (D}: "I Will Use Seat on (debt) Super Committee to Close Wealth Gap"

    08/15/2011 7:56:09 AM PDT · by pabianice · 40 replies
    Fox News Channel | 8/15/11
    Further: 'I will work hard to protect entitlements... the only problem with the Reid Senate is that we didn't keep a fillibuster-proof majority... " Yeah. The Super Committee is gonna work. /S
  • New CNN Poll: Majority want tax increase for wealthy and deep spending cuts

    08/10/2011 11:51:49 AM PDT · by SeekAndFind · 70 replies
    CNN ^ | 08/10/2011
    Most Americans want a special congressional committee tasked with drafting a long-term solution to the nation's mounting federal deficits to include tax hikes for the wealthy and businesses and deep cuts in domestic spending, according to a new national survey. A CNN/ORC International Poll released Wednesday also indicates that the public doesn't want the super committee to propose major changes to Social Security and Medicare or increase taxes on middle class and lower-income Americans. Under the debt ceiling deal passed by Congress and signed by President Barack Obama last week, a panel of 12 legislators - six Democrats and six...
  • Liberals outline stimulus agenda in 'Contract for the American Dream'

    08/09/2011 9:22:06 AM PDT · by Sub-Driver · 55 replies
    Liberals outline stimulus agenda in 'Contract for the American Dream' By Erik Wasson - 08/09/11 10:57 AM ET Liberal organizations and unions are frustrated that President Obama has not aggressively pushed a new jobs stimulus agenda and they are offering up a consolidated fall agenda for Democrats to embrace as an alternative to austerity. Representatives of MoveOn, Rebuild the Dream and the Center for Economic Policy and Research will join Rep. Jan Schakowsky (D-Ill.) on Tuesday to launch a progressive “Contract for the American Dream” to urge the administration and Congress to turn away from budget cutting and focus on...
  • Republicans Want Geithner to Walk The Plank After Credit Downgrade

    08/06/2011 3:45:05 PM PDT · by bobk333 · 36 replies
    Foxnews ^ | August 6, 2011 | Stephen Clark
    “No risk,” Geithner told Fox Business at the time. When asked whether S&P was wrong and that the U.S. would keep its top credit rating, Geithner said, “Absolutely”... Sen. Jim DeMint, R-S.C. said the president should “demand” that Geithner resign “and immediately replace him with someone who will help Washington focus on balancing our budget and allowing the private sector to create jobs.” “For months he opposed all efforts to reduce the debt in return for a debt ceiling increase,” DeMint said. “His opposition to serious spending and debt reforms has been reckless and now the American people will pay...
  • You Might Be Rich If..[Vanity/Humor/Misc]

    08/06/2011 3:02:20 PM PDT · by fight_truth_decay · 11 replies
    Self | 8/06/2011 | fighttruthdecay
    I was reading a thread on "tax the rich" and thought of the old comedy bit byJeff Foxworthy: "You Might Be A Redneck if". I found a few* answers meant to be on a more serious note; but added some on the satirical side. You have shelter for your car* Your kid decides what he wants to eat based on which kid's meal has the best toy* You have a guest bedroom* You run or walk for exercise, not transportation* You can pay your satellite bill You own a flat screen, one or more You own a snowmobile You...
  • There Aren't Enough "Rich" to Tax

    08/06/2011 11:11:18 AM PDT · by COBOL2Java · 21 replies
    The Rush Limbaugh Program ^ | 7 August 2011 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: We're into statistics today and the unemployment statistics are just fascinating in the way that we're being spun. It's as bad as the way we were spun on this debt deal, and the more you look at this debt deal, what a disaster that is. I'm gonna explain why as the program unfolds. This is from the UK Daily Mail. You're not gonna see this in the American media. Speaking of the American media, remember all of those years, the Bush years, the media apparatchiks on TV were trying to talk down the economy and trying to...
  • The Ideologue in the Oval Office

    07/20/2011 5:18:42 AM PDT · by Kaslin · 5 replies ^ | July 20, 2011 | Jonah Goldberg
    "I think increasingly the American people are going to say to themselves, 'You know what? If a party or a politician is constantly taking the position my-way-or-the-highway, constantly being locked into ideologically rigid positions, that we're going to remember at the polls,'" President Obama said at his Friday news conference. I know everyone is sick of hearing about the debt-limit negotiations. Lord knows I am. When I turn on the news these days, I feel like one of the passengers seated next to Robert Hays in the movie "Airplane!" By the time we get to the phrase "in the out...
  • Tim Pawlenty wants to give the rich a plaque

    07/12/2011 12:53:39 PM PDT · by SmithL · 10 replies
    SFGate: Token Conservative ^ | 7/12/11 | Debra J. Saunders
    Dennis Miller interviewed Tim Pawlenty today. Make that "Timmy Pawlenty." When the conversation turned to rich guys who say they want to pay higher taxes, Pawlenty recalled that when he was Minnesota governor, some lawmakers were calling for tax hikes on the rich. "I had a press conference. I said that anybody who wants to voluntarily come down here and contribute, we will give you a plaque. You'll have your picture taken with the governor, we'll do it here in the public in the reception room and we'll give you a certificate of appreciation. And you know how many of...
  • Conservative Ben Stein Calls For Tax Hikes on Millionaires, Billionaires (say it ain't so!)

    07/11/2011 7:23:27 PM PDT · by markomalley · 103 replies
    CNS News ^ | 7/11/11 | James Zilenziger
    Ben Stein, an economist, actor, and conservative writer, said taxes should be raised on millionaires and billionaires to help reduce the federal deficit. “I am in favor of greatly raising the taxes on very wealthy people, millionaires and billionaires. I wouldn't raise the taxes on people making $250,000 a year,” said Stein in a June 29 interview on The O’Reilly Factor, guest-hosted by Laura Ingraham. Earlier, on June 25, Stein had told Cavuto on Business, “We've got to raise taxes. There's just no way around it. The deficit situation is so serious that while I wish we did not have...
  • Tax the Rich!!!!! (OK, Raise Taxes on all the "Rich" GS and SES "Workers" Until Deficit is Zero.)

    07/06/2011 9:56:16 AM PDT · by Robert A. Cook, PE · 14 replies
    NA ^ | 5 July 2011 | R A Cook
    So Obama demands that we must progressively "Tax the Rich" as a price for raising the debt limit. OK. Let's do that. Any civilian government employee making over $150,000.00 per year gets a 15% tax increase until the deficit is zero'ed. Any civilian making over $100,000.00 per year gets a 10% tax increase. Any civilian making over $75,000.00 per year gets a 5% tax increase. So how much would this raise? Does it really matter, Obama (and Hillary) have already said in 2008 that the fact that raising capital gains tax rates doesn't increase revenue "doesn't matter, it is a...
  • The Truth About The Economy (More drivel by Robert Reich)

    06/16/2011 11:31:25 AM PDT · by Beave Meister · 2 replies
    YouTube ^ | 6/13/2011
    Robert Reich connects the dots on the economy, in less than 2 minutes and 15 seconds. Who knew he could draw?
  • Are Taxes Causing the Rich to Renounce Their Citizenship?

    06/15/2011 8:43:24 AM PDT · by arderkrag · 65 replies
    The Wall Street Journal ^ | Jun 13, 2011 | Robert Frank
    According to the latest Internal Revenue Service report, the number of Americans renouncing their U.S. citizenship (or terminating their long-term permanent residency) has increased nearly ninefold since 2008. In the first quarter alone, 499 Americans expatriated through the IRS, meaning they probably won’t have to pay U.S. taxes anymore, according to data that first appeared on Andrew Mitchel’s International Tax Blog. That compares with a quarterly average of 384 in 2010. And 2010 marked a significant jump from 2009 and 2008, with quarterly averages of 186 and 58, respectively. -----SNIP----- One argument is that they are leaving because of President...
  • Guess who it is who wants your wealth redistributed?

    06/04/2011 2:18:48 AM PDT · by applpie · 47 replies · 1+ views
    Gallup ^ | June 2, 2011 | Lydia Saad
    "Americans break into two roughly evenly matched camps on the question of whether the government should enact heavy taxes on the rich to redistribute wealth in the U.S. Forty-seven percent believe the government should redistribute wealth in this way, while 49% disagree, similar to views Gallup found four years ago."
  • Here are the countries that love to soak the rich

    06/02/2011 9:04:34 AM PDT · by SeekAndFind · 25 replies · 1+ views
    Business Insider ^ | 06/02/2011 | Mamta Badkar
    Tax attacks on the rich may seem extreme in the U.S., but around the world rates are far more aggressive. A report by KPMG highlights 2010 individual income tax for countries around the world. We ranked the countries based on the income tax rate on $300,000 of gross income and included the income level at which the top marginal rate kicks off. As a point of reference, America's top marginal rate starts at $373,650 and its percentage 27.9%. That keeps the U.S. out of the top 20.
  • A 62% Top Tax Rate?

    05/29/2011 8:42:50 AM PDT · by Nachum · 14 replies · 1+ views
    WSJ ^ | 5/29/11
    Democrats have said they only intend to restore the tax rates that existed during the Clinton years. In reality they're proposing rates like those under President Carter. Media reports in recent weeks say that Senate Democrats are considering a 3% surtax on income over $1 million to raise federal revenues. This would come on top of the higher income tax rates that President Obama has already proposed through the cancellation of the Bush era tax-rate reductions. If the Democrats' millionaire surtax were to happen—and were added to other tax increases already enacted last year and other leading tax hike ideas...
  • Huge bi-partisan support for taxing the rich to fix budget. Plan B?

    03/31/2011 9:01:28 PM PDT · by SmithL · 34 replies · 1+ views
    SFGate: Politics Blog ^ | 3/31/11 | Joe Garofoli - Chronicle Political Writer
    Think the budget negotiations are dead? Get ready for something that could contribute to a Plan B: Tax the rich. We just got our hands on a new poll due out Friday that shows blow-the-roof-off support for something that has only been mumbled about in the most progressive corners of the Dome: Increasing taxes one percent on Californians making more than $500,000. It would raise $2.5 billion towards the state's $26.6 billion deficit. We explored this issue weeks ago, but few would talk it up then. But now, they might. How high is the support? Try a whopping 78 percent....
  • Tax the Super Rich now or face a revolution

    03/29/2011 8:57:23 PM PDT · by Christus_Rex · 1,263 replies
    Market Watch ^ | March 29, 2011 | Paul B. Farrell
    Yes, tax the Super Rich. Tax them now. Before the other 99% rise up, trigger a new American Revolution, a meltdown and the Great Depression 2. We know the Super Rich don’t care. Not about you. Nor the American public. They can’t see. Can’t hear. Stay trapped in their Forbes-400 bubble. An echo chamber that isolates them. They see the public as faceless workers, customers, taxpayers. See GOP power on the ascent. Reaganomics is back. Unions on the run. Clueless masses are easily manipulated. Even Obama is secretly working with the GOP, will never touch his Super Rich donors. Yes,...
  • Really Rich Dude Michael Moore Says Wealthy American's Money is Not Theirs its 'Ours'

    03/02/2011 10:34:34 AM PST · by Pacothecat · 42 replies
    Really Rich Dude Michael Moore Says Wealthy American‘s Money is Not Theirs its ’Ours‘ ’A National Resource’ We Need To Take It From Them
  • California poll: Most say Bush tax cuts hurt economy, didn't help them

    09/22/2010 10:17:09 AM PDT · by SmithL · 73 replies
    AP via SFGate ^ | 9/22/10 | Carla Marinucci, Chronicle Political Writer
    A new poll shows California voters strongly support proposals to allow the Bush tax breaks for the wealthiest Americans to expire -- and overwhelmingly favor policies that allow the middle class to keep more of their earnings instead. The statewide poll was taken by the Democratic polling firm of Greenberg Quinlan and Rosner for the SEIU. Hardly non-partisan, but Greenberg is well-respected; and the poll has good news for Democratic U.S. Senator Barbara Boxer -- in the middle of a tough re-election battle with Republican Carly Fiorina -- as she backs an end the tax cuts to the rich. The...
  • Wealthy lawmakers increased their riches as economy sputtered in '09

    08/31/2010 4:19:42 AM PDT · by blueyon · 20 replies · 1+ views
    The Hill ^ | 8/31/10 | By Kevin Bogardus and Barbra Kim
    The wealthiest members of Congress grew richer in 2009 even as the economy struggled to recover from a deep recession. The 50 wealthiest lawmakers were worth almost $1.4 billion in 2009, about $85.1 million more than 12 months earlier, according to The Hill’s annual review of lawmakers’ financial disclosure forms. Sen. John Kerry (D-Mass.) tops the list for the second year in a row. His minimum net worth was $188.6 million at the end of 2009, up by more than $20 million from 2008, according to his financial disclosure form. While the economy struggled through a recession during much of...
  • Voters Agree Only on Taxing The Rich To Pay for Health Care Plan

    01/04/2010 8:41:57 AM PST · by reaganaut1 · 55 replies · 1,806+ views
    Rasmussen Reports ^ | January 4, 2010
    When it comes to paying for the cost of the proposed health care reform plan, voters are okay with taxing the rich but strongly reject cuts in Medicare and excise taxes on “Cadillac” health plans provided by employers. The latest Rasmussen Reports national telephone survey finds that those who support the health care plan overall are strongly supportive of all three approaches to paying for the program. Most of those who are opposed to the plan are also opposed to each proposed means of paying for it. Sixty-four percent (64%) of all voters favor imposing an income tax surcharge on...
  • Americans Want Government to Spend for Jobs, Send Bill to Rich

    12/10/2009 11:40:18 AM PST · by The Good Doctor · 13 replies · 494+ views
    Yahoo ^ | Wed Dec 9, 6:00 pm ET | Mike Dorning and Catherine Dodge Mike Dorning And Catherine Dodge
    Americans want their government to create jobs through spending on public works, investments in alternative energy or skills training for the jobless. They also want the deficit to come down. And most are ready to hand the bill to the wealthy.
  • US Tax Laws to Tighten Around Wallets of Dual Citizens

    08/16/2009 11:59:00 PM PDT · by Mr170IQ · 12 replies · 920+ views
    Arutz Sheva ^ | Aug. 17, 2009 | Arutz Sheva Staff
    ... Under US regulations, a citizen who fails to report by the end of September 2009 any account worth more than $10,000 held in a non-US bank, a savings program or a fund, will be liable for a fine of $10,000 for each offence, even without criminal intent. ...
  • Running out of rich to eat

    07/31/2009 12:59:31 PM PDT · by SmithL · 87 replies · 1,460+ views
    Halfway to Concord ^ | 7/31/9 | Bill Gram-Reefer
    The IRS just released some interesting tax information -- the Top 1% of taxpayers is now paying more in taxes than the bottom 95%. Scott Hodge from the Tax Foundation created the chart nearby that graphs the new data. Perthaps the CD-10 candidates can advise at what higher rate do you tax the “rich” in order to make the tax code even more progressive and supposedly more “fair?” Once Obama and the Democrats in Congress get done with us, only politicians and public employees will be the rich. Yummm, pass the BBQ sauce. Who says turnabout isn’t fair play? Hmmm…DeSaulnier...
  • Dan Walters: Tax volatility plagues California budget wrangle

    07/17/2009 7:42:41 AM PDT · by SmithL · 5 replies · 293+ views
    Sacramento Bee ^ | 7/17/9 | Dan Walters
    The volatility of California's tax revenue – booming one year, plummeting the next – plagues the state budget. The volatility, born of the state's reliance on personal income taxes from a relative handful of high-income Californians, is the underlying factor in revising the current state budget to close a whopping deficit. Gov. Arnold Schwarzenegger and Democratic legislators are wrangling over how to apply the state's ultra-complex school finance law in an era of declining revenue. Democrats want guarantees that shortfalls in school financing will be fully restored in the years ahead, but Schwarzenegger is unwilling to provide restoration money beyond...
  • Democrats Weigh Health Mandate as Obama Urges Taxing Wealthy

    06/08/2009 8:20:06 PM PDT · by pissant · 11 replies · 714+ views
    Bloomberg | 6/8/09 | Larua Litvan
    Bloomberg. Title and link only.
  • It is Un-American not to want to pay taxes [CNN, 0bama thugs: you should love paying taxes] [barf]

    04/15/2009 8:48:24 AM PDT · by rabscuttle385 · 35 replies · 1,131+ views
    CNN / iReport ^ | 2009-04-15
    Most Americans that complain about too many taxes likely pays very little taxes themselves. Our roads, bridges, and other infra-structure are crumbling. Our healthcare system is a disaster. Do you think this can be fixed with less money into the government coffers?
  • During Tea Parties, President To Highlight Tax Cuts

    04/14/2009 8:13:00 PM PDT · by melt · 122 replies · 5,896+ views ^ | 4/14/09 | Kyle Trygstad & Mike Memoli
    Tomorrow is Tax Day, and conservatives across the country are planning "Tea Parties," intended to be grass-roots "revolts" against the Obama administration's economic policies thus far. Though organized independent of the Republican Party, a number of officeholders and candidates are planning to attend local events. At the White House, Robert Gibbs said that he's not sure if President Obama is aware of the planned demonstrations. He will, however, mark the day with a White House event "to signal the important steps in the Economic Recovery and Reinvestment plan that cut taxes for 95 percent of working families in America," Gibbs...
  • Obama adviser paid millions as hedge fund director

    04/04/2009 2:51:52 PM PDT · by thecodont · 28 replies · 3,291+ views
    Associated Press via San Francisco Chronicle / ^ | Saturday, April 4, 2009 | Associated Press
    (04-04) 13:50 PDT WASHINGTON (AP) -- Lawrence Summers, President Barack Obama's top economic adviser, earned millions over the past year as managing director of the hedge fund D.E. Shaw Group and through speaking fees, some from financial institutions now at the center of the government's rescue program. Financial disclosure reports released by the White House show that Summers received $5.2 million from D.E. Shaw. He also reported payments for appearances before institutions such as J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers. Overall, Summers was paid $2.7 million for more than 40 appearances before different organizations and companies, including financial...
  • The Buzz { Tax the Rich }

    01/07/2009 10:37:35 AM PST · by SmithL · 14 replies · 605+ views
    Sacramento Bee ^ | 1/7/9 | Kevin Yamamura
    Gov. Arnold Schwarzenegger's deficit-closing plan to temporarily raise sales taxes by 1.5 cents on the dollar has drawn predictable howls of protest from the right. Now the left has weighed in with equal disgust. Peace and Freedom Party state Chairman Kevin Akin calls the plan a "savage attack on working people." Instead, Akin says, raise income taxes on "the richest 1 percent" and eliminate the sales tax.
  • How Low Can It Go? Richardson Pegs Middle Class as Those Making Under $120,000

    10/31/2008 10:47:30 AM PDT · by Joiseydude · 25 replies · 974+ views
    For the second time in a week, a prominent Democrat has downgraded Barack Obama's definition of the middle class -- leading Republicans to question whether he'll stick to his promise not to raise taxes on anyone making under $250,000. The latest hiccup in the campaign message apparently came Friday morning on KOA-AM, when New Mexico Gov. Bill Richardson pegged the middle class as those making $120,000 and under. "What Obama wants to do is he is basically looking at $120,000 and under among those that are in the middle class, and there is a tax cut for those," Richardson said...
  • CNN's Lying Tax Statistics

    09/20/2008 7:11:31 AM PDT · by MrChips · 62 replies · 248+ views
    I just watched a CNN "comparison" of taxes. They flashed a bunch of false numbers on the screen which essentially implied that Obama would cut taxes for the middle class, raise them only on the rich. Standard stuff. But, I am not an economist. It's all I can do to balance my checkbook. Can anyone out there clarify the tax issue in a simple way? We all know that Obama will raise taxes in a big way. But is the best way to refute the two most commonly heard Obama lines? (1) I'll cut takes for 95% of all Americans...
  • To solve budget woes, California eyes higher taxes on the rich

    07/28/2008 10:59:36 AM PDT · by americanophile · 61 replies · 134+ views
    Sacramento, Calif. - For the "have-mores" of California, the tax man cometh. Facing a $15 billion budget shortfall, Californian legislators are calling for tax hikes on the rich. That's despite the Golden State already having one of the most progressive tax structures, meaning the wealthy pay much higher rates than the poorest. Top earners here could face a double whammy if Democratic leaders in Washington succeed next year in rolling back President Bush's tax cuts and allow Social Security withholding on income beyond the current $102,000 cap. Political leaders are zeroing in on the upper echelons of the state's taxpayers...
  • California exodus turns to stampede

    02/21/2008 4:07:43 AM PST · by Man50D · 414 replies · 657+ views ^ | February 20, 2008
    WASHINGTON – California, which once lured Americans from near and far, is now driving out millions of the most productive residents – including high percentages of the most affluent. "When California faced a Mount Everest-sized $14 billion deficit in 2003, one of the major causes for the red ink was the stampede of millionaire households from the state," says a report called "Rich States, Poor States" by economists Arthur Laffer and Stephen Moore. "Out of the 25,000 or so seven-figure-income families, more than 5,000 left in the early 2000s, and the loss of their tax payments accounted for about half...
  • Obama would tax wealthy to pay for universal health care

    05/30/2007 6:11:36 AM PDT · by RDTF · 65 replies · 1,991+ views
    CNN.Com ^ | May 29, 2007 | AP
    IOWA CITY, Iowa (AP) -- Democratic presidential hopeful Barack Obama on Tuesday offered a plan to provide health care to millions of Americans and more affordable medical insurance, financed in part by tax increases on the wealthy. Bemoaning a health care "cost crisis," Obama said it was unacceptable that 47 million in the country are uninsured while others are struggling to pay their medical bills. He said the time is ripe for reforming the health care system despite an inability to do so in the past, most notably when rival Hillary Rodham Clinton pursued major changes during her husband's presidency....
  • Edwards unveils $8 billion college scholarship program

    05/11/2007 12:44:09 PM PDT · by keepitreal · 38 replies · 797+ views
    Democratic presidential candidate John Edwards proposed an $8 billion college scholarship program Friday that would pay first-year bills for nearly every college student in the nation. Funneling money by eliminating bank subsidies and tapping windfall profit taxes, Edwards said high school students across the country could benefit from an idea he has been testing at a high school in this impoverished rural community since 2005. Edwards returned Friday to Greene Central High School to announce that 74 percent of its graduating seniors will attend college this fall using hundreds of thousands of dollars in scholarships. When he began offering the...
  • I.R.S. Ends 100-Year-Old Tax (Spanish-American war)

    09/07/2006 1:10:39 PM PDT · by Gomez · 15 replies · 1,172+ views
    CBS 11 News ^ | Sep 5, 2006 | Bennett Cunningham
    $15 billion dollars is up for grabs, thanks to the repeal of a 100-year-old tax. The Spanish-American war ended in 1898. But the tax to fund it didn’t end until recently. The end of the tax is thanks in part to Fort Worth Congressman Michael Burgess, who said, “As of July 31st the tax is repealed.” For 108 years, the federal government collected a tax up to 3 % of your long distance phone calls. Although Congressman Burgess co-sponsored a bill to repeal the tax, it was the U.S. Treasury Secretary who recently told the I.R.S. to stop collecting it....
  • Voting Away the Tax Base?

    06/11/2006 10:51:13 AM PDT · by FairOpinion · 54 replies · 1,216+ views
    LAT ^ | June 11, 2006 | Tom Petruno:
    To live in California is to pay the highest state income tax rate in the nation, if you're wealthy enough. Last week, voters had a chance to raise that tax rate to new heights by approving Proposition 82. They declined. Did they figure that the Golden State's rich were already thoroughly soaked — or did 82, which would have funded universal preschool for 4-year-olds, just not present a convincing enough case? Nevada is right next door, after all, and it has no income tax, period. Proposition 82 would have raised California's top tax to 12% from 10.3%. Rodriguez sees a...
  • Universal preschool advocates vow to continue efforts

    06/07/2006 3:29:45 PM PDT · by CounterCounterCulture · 38 replies · 615+ views
    San Jose Mercury News ^ | 7 June 2006 | Dana Hull
    Universal preschool advocates vow to continue effortsBy Dana Hull Mercury News Advocates of universal preschool vowed today to continue their fight despite the crushing defeat of Proposition 82 in Tuesday's election. According to the final tally of ballots cast, 60.9 percent of voters statewide opposed Prop. 82 while just 39.1 percent supported it. The initiative, which needed a simple majority to pass, narrowly prevailed in just three of California's 58 counties: Alameda, Imperial, and San Francisco. In conservative Orange County, 73 percent of voters came out against it. ``It was a tough environment for initiatives,'' said Prop. 82 spokesman Nathan...
  • Proposition 82: Voters split on pioneering preschool plan [Meathead's Nanny State Prop]

    05/30/2006 7:46:38 AM PDT · by SmithL · 8 replies · 415+ views
    San Francisco Chronicle ^ | 5/30/6 | Mark Martin
    Ballot measure would expand programs by taxing richest Attending preschool for free would become a constitutional right for every 4-year-old in California if voters approve a June ballot initiative that could dramatically reshape the state's public education system. Called a key to improving the state's lagging schools by proponents and a colossal waste of money by opponents, passage of Proposition 82 would place the state in the forefront of a national movement toward standardizing pre-kindergarten education. Illinois, Georgia and Oklahoma already have implemented or are considering universal preschool programs. Most of California's half-million 4-year-olds attend some form of preschool or...
  • FIELD POLL: Preschool issue losing support, poll finds [Meathead's Prop 82]

    04/19/2006 12:06:10 PM PDT · by SmithL · 16 replies · 543+ views
    San Francisco Chronicle ^ | 4/19/6 | Mark Martin
    Prop. 82's margin has fallen in past few months, even among Democrats - A ballot initiative that would raise income taxes on the wealthy to provide free preschool for every 4-year-old in California remains ahead in a new statewide poll, but the lead is shrinking. Fifty-two percent of likely voters say they will support Proposition 82 on the June ballot, while 39 percent oppose the measure and 9 percent are undecided, according to a Field Poll released today. The new numbers show the proposition is losing support and the June result is likely to be very close, said Field Poll...
  • Pro-preschool campaign well ahead in fundraising (Meathead's Proposition 82)

    03/25/2006 1:46:41 PM PST · by CounterCounterCulture · 20 replies · 656+ views
    San Jose Mercury News ^ | 25 March 2006 | Dana Hull
    Pro-preschool campaign well ahead in fundraising The campaign for Proposition 82, the Preschool for All Act, raised $2 million between Jan. 1 and March 17, according to campaign-finance records released this week. That's 10 times as much as the $196,000 raised by the ``No on 82'' campaign. The no campaign has $81,000 in remaining cash on hand; the pro-82 campaign, $1.6 million. Rob Reiner, who at nearly $657,000 is the campaign's biggest donor, has also become the focal point for its opposition. Much of the controversy surrounds conflict-of-interest charges stemming from Reiner's role as chair of a state commission, First...