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Keyword: taxes

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  • Albany Democrats propose an absolutely ridiculous budget

    03/17/2024 11:43:29 AM PDT · by ChicagoConservative27 · 11 replies
    Nypost ^ | 03/17/2024 | John Ketcham
    In their annual one-house budget resolutions, Democratic majorities in the state Assembly and Senate laid out their negotiating position for this year’s budget deal with Gov. Hochul. They’ve decided to spend more — $13 billion more than the governor’s already-record $233 billion executive budget. And tax high earners and corporations more too, despite Hochul’s opposition.
  • HHS Secretary Refuses To Explain Why ‘Hardworking Americans’ Should Pay For Illegals’ Healthcare

    03/15/2024 7:57:25 AM PDT · by SeekAndFind · 25 replies
    The Federalist ^ | 03/15/2024 | BRIANNA LYMAN
    Department of Health and Human Services Secretary Xavier Becerra refused to explain Thursday why “hardworking Americans should pay” for foreign lawbreakers’ healthcare when grilled by Wyoming Sen. John Barrasso. Barrasso detailed how cities are being overwhelmed by illegal immigrants draining their resources and putting a massive strain on health funds and infrastructure, noting Denver Health saw more than 20,000 illegally present foreigners seeking medical care in 2023. Denver Health is “at a critical, critical point” as costs pile up, CEO Donna Lynne said, according to Becker’s Hospital Review. “Can you please explain why it is the responsibility of hard-working American...
  • Russia is eyeing big tax hikes after this month's election to pay for the war in Ukraine

    03/15/2024 7:17:44 AM PDT · by marcusmaximus · 36 replies
    Business Insider ^ | 3/11/2024 | Yuheng Zhan
    Vladimir Putin could raise taxes after the presidential election this month to keep the money flowing to pay for the country's war in Ukraine. Bloomberg reported on Monday that the Kremlin is considering dipping into the pockets of high-earning Russians and corporations, as the government plans to hike taxes by as much as 4 trillion rubles ($44 billion). Sources said that the hikes could be finalized this summer. Under the plan, the government would raise personal income tax from 15% to 20% for those earning over 5 million rubles (roughly $55k USD) and from 13% to 15% for those making...
  • Chicago Bears to invest over $2B in new lakefront stadium

    03/12/2024 2:14:59 PM PDT · by joesbucks · 40 replies
    Fox 32 Chicago ^ | Nate Rodgers
    The Chicago Bears revealed a plan for their new stadium Monday on the lakefront of the Windy City. A source close to the stadium project tells FOX 32 that the team is investing over $2 billion in private money into a "publicly owned domed stadium and park space."
  • NH School Funding Fairness Project = HIGHER State Taxes

    03/09/2024 5:58:18 PM PST · by davikkm · 6 replies
    There’s a highly organized, concerted effort underway here in NH to get outrageous amounts funded for NH schools and education agendas. I smell a racket in the making. This organization seems suspect and needs more looking into – which leftist/globalist entities are supporting and pushing this: The New Hampshire School Funding Fairness Project.
  • Buttigieg: Biden Will Continue to Fight Deficit by Raising Taxes

    03/09/2024 4:29:35 PM PST · by ChicagoConservative27 · 49 replies
    Breitbart ^ | 03/09/2024 | Ian hatchett
    On Friday’s broadcast of the Fox News Channel’s “Your World,” Transportation Secretary Pete Buttigieg said that there is more work to be done on deficit reduction, President Joe Biden will continue to work on reducing the deficit, and that’s why the President has put out a proposal to raise taxes. After Buttigieg [relevant exchange begins around 2:20] said that Biden will “continue down the path of deficit reduction that he has achieved in his presidency,” host Neil Cavuto said, “We have more debt than we did when he assumed office. Debt has grown under this President. By the way, it’s...
  • White House on if Higher Taxes Kill Jobs: Businesses Have Lots of Resources, We’ve ‘Given Them a Lot of Subsidies’

    03/09/2024 12:24:53 PM PST · by ChicagoConservative27 · 24 replies
    Breitbart ^ | 03/09/2024 | Ian hatchett
    On Friday’s broadcast of Bloomberg’s “Balance of Power,” White House Council of Economic Advisers member Heather Boushey responded to a question on whether the higher corporate taxes pushed by President Joe Biden will harm hiring by saying that “We need to make sure that the federal government has the resources that it needs to be able to do the things that it needs to do.” And that”businesses have a lot of resources, we’ve also given them a lot of subsidies and supports to go out there and invest.” Co-host Joe Mathieu asked, [relevant exchange begins around 7:15] “[H]e talked about...
  • Joe Biden to propose massive tax raid on super rich and corporate America in tonight's State of the Union address with sweeping hikes including minimum corporate tax up from 15% to 21% and a 25% rate for billionaires

    03/07/2024 12:42:55 PM PST · by backpacker_c · 132 replies
    Dailymail ^ | Mar 7, 2024 | Paul Farrell
    President Joe Biden plans to launch a raid on the super rich, hiking taxes for corporations and billionaires like Elon Musk and Jeff Bezos. White House officials said the steps were part of a proposed 2025 budget to be released next week, and aimed at reducing the federal deficit by $3 trillion over 10 years. The tax plans are expected to form a core part of Biden's re-election campaign, contrasting markedly with presumptive Republican nominee Donald Trump, whose 2017 'Tax Cuts and Jobs Act' slashed taxes on companies and the wealthy.
  • High-tax states are running out of things to tax, so they resort to lawsuits against profitable companies

    03/04/2024 8:43:24 AM PST · by SeekAndFind · 17 replies
    American Thinker ^ | 03/04/2024 | Jack Hellner
    People and businesses are moving out of Illinois, New York and California because of their far-left policies. These high-tax states are running out of things to tax to support their big spending policies. So they resort to lawsuits to get more money since they can't print it. Lawyers are some of the biggest Democrat supporters. Chicago is now suing oil companies for their supposed damage to the climate. Mayor Johnson, City Of Chicago Sues Oil And Gas Companies For Climate DeceptionTaxpayer protection, climate justice at heart of complaint.These lawsuits have been going on for a while. Six years ago New...
  • How Long Should You Keep Your Tax Returns?

    03/02/2024 10:37:07 PM PST · by where's_the_Outrage? · 31 replies
    GOBankingRates ^ | March 2, 2024 | Addie Johnson Talbott
    Take it from someone who has a hoard of legal accordion files stashed away in a hope chest: It’s a good idea to keep your tax records. However, if you’re going through a phase of trying to get rid of everything, the IRS is (sort of) clear on how many years to keep the paper trail. How Long To Keep Your Tax Records Let’s go in descending order: Forever: If you never filed a return, or if you filed a fraudulent return (neither of which is recommended) 7 years: If you file a claim for a loss from worthless securities...
  • ‘Empire’ star hit with almost $1 million judgment after saying it’s ‘immoral’ to tax descendants of slaves

    03/02/2024 3:21:15 PM PST · by lowbridge · 26 replies
    pennlive.com ^ | February 29, 2024 | Chris Mautner
    Academy Award-nominated actor Terrence Howard has been ordered by a federal judge to pay nearly $1 million in back taxes, including interest and penalties, after saying that it was “immoral for the United States government to charge taxes to the descendants of slaves.” The judgment comes after the IRS spent a year trying to collect $578,000 in income taxes that Howard, 54, had not paid between 2010 and 2019, according to the Philadelphia Inquirer. The Justice Department sued the “Empire” star in 2022 over the issue, but the actor’s only response appears to have been an angry voicemail he left...
  • Actor Terrence Howard ordered to pay almost $1M in back taxes after saying ‘immoral’ to tax slave descendants

    03/01/2024 4:45:41 PM PST · by Libloather · 51 replies
    Fox News ^ | 3/01/24 | Joshua Q. Nelson
    Actor Terrence Howard reportedly said it is "immoral for the United States government to charge taxes to the descendants of slaves" after being ordered to pay nearly $1 million in back taxes. According to a report from the Philadelphia Inquirer on Thursday, a federal judge in Philadelphia ordered the Academy Award-nominated actor to pay $903,115 in back taxes, penalties and interest. "For more than a year, the 54-year-old star of the TV hit ‘Empire,’ whose last listed address was in Plymouth Meeting, rebuffed IRS efforts to collect $578,000 in income taxes it says he failed to pay between 2010 and...
  • Surprise Tax Form Is Latest Insult for Victims of East Palestine Train Derailment

    02/24/2024 7:01:18 AM PST · by CFW · 23 replies
    The Epoch Times ^ | 2/23/24 | Beth Brelje
    DARLINGTON, Penn.—Kim Nalesnik was shocked to receive a 1099-MISC tax form from Norfolk Southern railroad. She never worked there, but her household received $2,500 from the company in 2023. A Norfolk Southern train derailed in neighboring East Palestine, Ohio, in February last year, spilling 1.1 million pounds of toxic vinyl chloride. Adding to the disaster, officials started a controlled release and burn from overturned rail cars days later, creating a fireball and large plume of black smoke filled with chemicals that could be seen for miles. Locals say the smoke dropped poisons into their land and water and that they...
  • Democrats weaponized justice system to punish Trump in business case

    02/19/2024 5:41:25 PM PST · by george76 · 11 replies
    New York Post ^ | Feb. 19, 2024 | Jonathan Turley
    Oscar Wilde wrote that “moderation is a fatal thing. Nothing succeeds like excess.” Justice Arthur Engoron took that line to heart with his absurd imposition of $455 million in fines and interest against Donald Trump and his corporation. ... Engoron then combined that unprecedented application with an equally extraordinary penalty, which is greater than the gross national product of some countries. He disgorged hundreds of millions in a case where not one dollar was lost by anyone. Indeed, the “victims” wanted to get more business from Trump and are now being prevented from doing so by Engoron. ... Nothing succeeds...
  • Opinion | The Never-Ending Wealth-Tax Campaign

    02/18/2024 5:12:41 AM PST · by where's_the_Outrage? · 44 replies
    WSJ via MSN ^ | Feb 17, 2024 | The Editorial Board
    Wealth taxes are like a specter in search of a host, and an already overtaxed New England state may be the first to succumb. Vermont lawmakers want to tax residents’ unrealized gains, hoping to finally break the barrier that’s kept them from draining asset values year after year. The state’s top tax legislator has spent recent weeks pushing bills that would dial up taxes on high earners. The biggest reach is a proposal to tax the paper gains from assets above $10 million. The plan would slap Vermont’s 8.75% top income-tax rate on half of those gains. That means a...
  • America's tax refund shock: Average worker to receive 29% LESS this year from the IRS - so how much should you expect?

    02/15/2024 11:54:17 PM PST · by Libloather · 12 replies
    Daily Mail ^ | 2/16/24 | Dolores Chang
    Millions of Americans awaiting their refund checks could be disappointed, as early data shows that average workers are receiving 29 percent less in tax refunds from the Internal Revenue Service (IRS) this year. The average refund check through February 2 is worth $1,395, according to statistics published by the IRS on Thursday. This amount is significantly less compared to the $1,963 received on average last year. Despite the noticeable reduction in the average refund issued this year so far, the IRS does not appear alarmed, noting that the average refund amount is likely to change in the coming months. The...
  • 4 red flags for an IRS tax audit — and how to avoid the ‘audit lottery,’ according to tax pros

    02/15/2024 7:47:09 AM PST · by Red Badger · 60 replies
    CNBC ^ | FEB 13 20241:49 PM EST | Kate Dore
    As Americans file returns this season, some worry about IRS audits amid agency efforts to ramp up service, technology and enforcement. Recent IRS enforcement has targeted high-income individuals, large corporations and complex partnerships. But everyday filers could still face an audit — and certain issues are more prone to IRS scrutiny, experts say. You don’t want to face the “audit lottery,” warned Ryan Losi, a certified public accountant and executive vice president of CPA firm Piascik. Audit rates of individual income tax returns decreased for all income levels from tax years 2010 to 2019, largely due to lower IRS funding,...
  • It’s Time to Make Colleges Pay Property Tax. Voluntary alternative arrangements are no longer getting the job done.

    02/15/2024 3:46:33 AM PST · by karpov · 24 replies
    James G. Martin Center for Academic Renewal ^ | January 31, 2024 | Walt Gardner
    Although the Ivies and other elite colleges and universities in the U.S. are financial titans, they are registered with the Internal Revenue Service as 501(c)(3) charitable nonprofit organizations. As a result, their vast property holdings are exempt from taxation in all 50 states. The rationale for this status is that higher education is an inherent public good. At least that has been the assumption under which this country has long operated. But this argument has increasingly been called into question by events over the last few years, culminating in the headline-making responses by university presidents to a recent congressional panel....
  • Tax refunds are almost 29% smaller this year, early IRS data shows

    02/14/2024 7:12:52 PM PST · by george76 · 15 replies
    Yahoo ^ | Feb 14, 2024 | Ronda Lee
    The average refund so far this tax season is ringing in at $1,395 compared to $1,963 last year... Tax refunds so far this year are markedly smaller than the same time a year ago, according to the earliest tax season data from the Internal Revenue Service. The average refund amount was $1,395 as of Feb. 2, down 28.9% from $1,963 for the same period last year, the IRS reported. That’s based on nearly 2.6 million refunds disbursed so far versus 7.9 million refunds disbursed by this point last year. The statistics for this year are based on five days of...
  • This 70-Year-Old Woman Might Lose Her $377,000 Home Over a Small Tax Debt

    02/13/2024 1:48:35 PM PST · by nickcarraway · 62 replies
    Reason ^ | 2.13.2024 | Grady J. Block
    The Supreme Court supposedly put an end to “home equity theft” last year. But some state and local governments have found a loophole.In Arizona, citizens can still lose their houses over minuscule tax bills, despite a unanimous 2023 Supreme Court ruling that was supposed to paralyze the practice nationwide. A disturbing chasm is growing between the letter of the law and the spirit of justice. Christine Searle, a 70-year-old retiree, faces the loss of her home—valued at hundreds of thousands of dollars—over a mere $1,607.68 in back taxes. Sadly, her story is not uncommon in Arizona. For nearly two decades,...