Free Republic

In the service of collecting on slavery reparations, an ultra-woke Denver city council member is floating a generous (with other people’s money) tax on white-owned businesses.Racist taxation policy is Equity™, which is one of Our Sacred Values™ in Democracy™.Obviously, taxing whitey is crucial because Denver has always been a notorious epicenter of White Supremacy™.Via the New York Post:A Denver councilwoman caused a stir when she declared that white-owned businesses should pay reparations.Candi CdeBaca, a 37-year-old Democratic Socialist who is facing a run-off election in June, told a business forum Thursday that white-owned businesses should pay an additional race-based tax, which...

Among Colorado state government policies, probably none is more hated and criticized but more entrenched and unassailable than the Business Personal Property Tax. That levy amounts to government’s demand that businesses pay the state an annual ransom based on the value of everything they own that isn’t real estate. It’s an irrational tax based on nothing more than ownership of objects that do not drive any particular need for government services. The accidental or deliberate genius that protects the Business Personal Property Tax, or BPT as insiders call it, is that the majority of its revenues go to the local...

Our tax code is byzantine, our businesses are over-taxed, and our economy is continuing to suffer. We can do better. We have done better. We deserve better. The Tax Foundation released its first global stat called the “International Tax Competitiveness Index”. This index aims to measure two criteria, competitiveness and neutrality, by examining “the extent to which a country’s tax system adheres to”, these “two important principles of tax policy”. The index accounted for more than 40 tax positions and policies. In their analysis, two of the most damning reasons for ranking the United States near the very bottom of...

Steve Schwarzman, billionaire head of buyout giant The Blackstone Group, shocki , shockingly likened President Obama's threat to impose higher taxes on private equity firms to Adolf Hitler's invasion of Poland. "It's a war," declared Schwarzman, speaking at a private board meeting of a nonprofit organization. "It's like when Hitler invaded Poland in 1939." Schwarzman's over-the-top comments reportedly stunned those in attendance. Yesterday, Schwarzman said he was sorry about his choice of words, but he wasn't backing away from the issue. "I apologize for what was an inappropriate analogy," he said. "However, the fundamental issue of the administration's need to...

The high-tech industry is planning to amplify its opposition to a tax proposal by the White House. On June 5, about a half-dozen tech trade associations discussed strategy for stopping a tax hike on multinational corporations, which would come if the Obama administration succeeds in changing a law that allows companies to defer taxes on overseas revenue of their subsidiaries. ..... That has led to a lobbying blitz out of Silicon Valley. This week, at least three tech trade associations are flying in executives from their member companies for meetings with lawmakers and White House aides. They will lobby against...

Business lobbyists are set to square off against state lawmakers who are considering reducing residential property taxes and recoping some of the revenue by raising property tax rates for business. The idea, which would require an amendment to the state constitution, is to be discussed next week at a Sept. 7 legislative committee meeting. It was initially touched on at a committee meeting earlier this month. Business advocates are outraged that the topic is being discussed at all. “From our perspective, that is not reform,” says Jim Leonard, vice president of government relations for the New Jersey Chamber of Commerce....

AUSTIN – Gov. Rick Perry has launched a statewide campaign ad, touting property tax cuts accomplished during the special session that ended last week. The 30-second ad, shot by Weeks & Co., will play in major markets for an undetermined period. Text: (Mr. Perry, standing in front of a frame house with a Texas flag) "A $15 billion property tax cut and more money for schools. We kept our promise to you. The average homeowner will receive a $2,000 tax cut. Every teacher will receive a well-deserved pay raise. We closed corporate loopholes and created new protections to keep taxes...

Todd Johnston's Aztec Party & Tent Rental in Houston is by most standards successful, but last year it did not turn a profit. Under the state's current business franchise tax, Aztec owed no state taxes. But under a new business tax that has been approved by the Texas Legislature, Aztec would have owed $81,000 in taxes because the tax is based on gross revenues, not net profit. Johnston said the new tax would not have put him out of business. However, it would have hurt his ability to weather a bad year, purchase new equipment or hire new employees, he...

Step towards closing the loophole, SMBs say Owner-managers have claimed a victory over retail industry big guns in an argument about the exploitation of Jersey’s tax loophole. Goods worth less than £18 sold on Jersey are exempt from VAT, a fact that has tempted the likes of Tesco, HMV and Amazon to use the island as a sales base, distributing knockdown CDs, books and DVDs to UK customers. SPONSORED LINKS IT gurus seek Your counsel - Jobsite, The best people for the job At Rackpace Managed Hosting we're passionate about the hosting business and we're here to stay - Click...

A new state business tax could offer deductions for hiring and manufacturing in Texas, the head of a panel studying the state's tax structure said Tuesday. Texas Tax Reform Commission Chairman John Sharp said the 24-member committee appointed by Gov. Rick Perry might recommend a new franchise tax levied on gross receipts or some other measure of business activity instead of net income, which the tax now covers. In addition, he said, the committee will not recommend a tax on companies' total payrolls, an idea floated repeatedly in the Legislature over the past two years. "What Governor Perry told us...

Former Bush economic adviser R. Glenn Hubbard on May 12 outlined for the President’s Advisory Panel on Federal Tax Reform a new consumption-based business tax system that would repeal the interest deduction and replace depreciation with full expensing while also broadening the base for individuals and eliminating the alternative minimum tax as well as deductions for state and local taxes and home mortgage interest. With President Bush’s marginal rate cuts and tax reductions on saving and investment, the groundwork for his proposal has already been laid, Hubbard, now with Columbia Business School, told the panel. “I think we’ve already started,”...

SACRAMENTO – A labor-backed coalition announced a signature-gathering drive yesterday for an initiative that would increase business property taxes by an estimated $2.8 billion a year to aid schools, transportation, local public safety and senior citizen tax relief. The drive, funded by the California Teachers Association and the California Correctional Peace Officers Association, is part of a scramble to ready measures for a possible special election this fall. Gov. Arnold Schwarzenegger, calling this the "year of reform," has business backing for four proposals that would control state spending, create new legislative and congressional districts, change public employee pensions and switch...

For education and discussion only. Not for commercial use. TRENTON, N.J. (AP) — The corporate parent of Macy's and Bloomingdale's said it will cut jobs and possibly close stores, blaming a new tax that more than doubles what the chain pays to the state. Federated Department Stores Inc. will also curtail hiring and end plans to remodel or expand existing stores, the company chairman said Tuesday. The announcement is the first such complaint since the law was approved last week. The retail chain claims it paid $4.4 million in state corporate taxes last year. Now, thanks to a law Gov....