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Keyword: taxes

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  • Exclusive: U.S. taxpayers' virus relief went to firms that avoided U.S. tax

    05/28/2020 7:03:11 AM PDT · by Oldeconomybuyer · 7 replies
    Reuters ^ | May 28, 2020 | by Tom Bergin, Lawrence Delevingne
    LONDON/BOSTON - Last month Zagg Inc, a Utah-based company that makes mobile device accessories, received more than $9.4 million in cash from a U.S. government program that has provided emergency loans to millions of businesses hit by the coronavirus. The money was part of the $660 billion Paycheck Protection Program (PPP) - a linchpin of President Donald Trump’s economic rescue package, meant to save small firms convulsed by the pandemic and help them to keep workers on the payroll. Claimants certified the loans were necessary to support their business and received an average of $115,000 as of May 26, according...
  • Biden to American Families: Don't Earn More Than $125,000 Per Year

    05/27/2020 10:37:58 AM PDT · by Kaslin · 29 replies ^ | May 27, 2020 | Terry Jeffrey
    They work hard, but they are not rich. He is a local police officer in a suburb of a midwestern city. His annual salary is $67,620 -- exactly the national average for his job, according to the Bureau of Labor Statistics. She is a registered nurse at the local Catholic hospital. Since their youngest joined his siblings in high school last fall, she has resumed working full time. Her annual salary is now $77,460 -- also exactly the national average for her job. Where does their money go? The biggest chunk goes to the government. They pay federal income taxes,...
  • Amazon blisters Joe Biden in scathing response after he tells company to 'pay its fair share'

    05/25/2020 4:26:49 AM PDT · by gattaca · 67 replies
    The Blaze ^ | May 24, 2020 | Chris Enloe
    'Assume your complaint is w/ the tax code, not Amazon' Amazon fired back at Joe Biden on Friday after presumptive Democratic presidential nominee told the company it needs "to pay its fair share" in taxes. The former vice president not only declared that Amazon must "pay its fair share," but he claimed the company pays less in taxes than firefighters and teachers. "I've said it before, and I'll say it again: No company pulling in billions of dollars in profits should pay a lower tax rate than firefighters and teachers. It's time for Amazon to pay its fair share," Biden...
  • The Pandora's Box Opened with the Release of Trump's Tax Returns

    05/24/2020 6:22:36 AM PDT · by Kaslin · 35 replies
    American ^ | May 24, 2020 | Michael Bertolone
    The Supreme Court should not require President Trump to release his tax returns on several grounds. There is not one good reason for his tax return to be released, and far too many why they should not. In addition, the Supreme Court should not vote along party lines on this issue. This should be a unanimous vote in order to send a message that the release of these documents would set a dangerous precedent. Without getting into whether it is unconstitutional or not; for sake of argument let’s just assume it is not. All the problems that can occur cannot...
  • JCPS board votes to increase district's tax rate by 7 cents, starting 50-day recall window

    05/21/2020 5:22:59 PM PDT · by ChildOfThe60s · 8 replies
    WDRB News Louisville ^ | May 21, 2020 | Kevin Wheatley
    LOUISVILLE, Ky. (WDRB) -- The Jefferson County Board of Education voted 5-2 Thursday to increase the district’s property tax rate by 7 cents per $100 of assessed property value, setting up a potential recall at the polls in November if opponents can garner enough support. Board members Diane Porter, Chris Kolb, James Craig, Corrie Shull and Joe Marshall voted for the rate increase while board members Chris Brady and Linda Duncan voted against it. Jefferson County Public Schools Superintendent Marty Pollio recommended the board pass the higher tax rate, which puts the district's tax rate at 80.6 cents per $100...
  • AOC owes $2,000 in unpaid taxes from failed business venture

    05/18/2020 8:40:36 AM PDT · by GuavaCheesePuff · 16 replies
    The New York Post ^ | May 18, 2020 | Carl Campanile
    US Rep. Alexandria Ocasio-Cortez wants to raise taxes on the rich — but not pay her own. The Democratic socialist congresswoman from The Bronx still hasn’t paid a 7-year-old tax bill left over from a failed business venture. AOC had founded Brook Avenue Press, a publishing house that sought designers, artists and writers from urban areas to help paint The Bronx in a positive way in children’s stories, in 2012. As The Post previously reported, public records show the state dissolved the company in October 2016. The state can make such a move when a business fails to pay corporate...
  • AOC allegedly on hook for unpaid seven-year-old tax bill: report

    05/18/2020 3:35:37 AM PDT · by Libloather · 16 replies
    NY Post via Fox News ^ | 5/18/20 | Carl Campanile
    US Rep. Alexandria Ocasio-Cortez wants to raise taxes on the rich - just not pay her own. The Democratic socialist congresswoman from The Bronx still hasn’t paid a 7-year-old tax bill leftover from a failed business venture. AOC had founded Brook Avenue Press, a publishing house that sought designers, artists and writers from urban areas to help paint The Bronx in a positive way in children’s stories, in 2012. As the Post previously reported, public records show the state dissolved the company in October 2016. The state can make such a move when a business fails to pay corporate taxes...
  • Red States Can't Let Blue Ones Go Down Without Sinking Themselves. BARF ALERT

    05/17/2020 5:05:01 AM PDT · by KeyLargo · 47 replies
    Daily Beast ^ | 5/16/2020
    Red States Can't Let Blue Ones Go Down Without Sinking Themselves. Republicans may not want to bail out blue states, but they can’t afford to let them go under. Nicole Gelinas Published May. 16, 2020 5:35AM ET A long-simmering uneasiness between densely populated Democratic states and more sprawling Republican states has turned into open contempt, with national Republicans refusing more aid for cash-strapped states, and local and state Democrats seeing anything less than 100 percent funding as a betrayal. As New York, New Jersey, Michigan and Illinois, in particular, struggle with the economic consequences of locking down their states to...
  • White House Promises to Veto Pelosi’s ‘Wish List’ – House Speaker Folds

    05/16/2020 10:21:33 AM PDT · by yoe · 74 replies
    National Insiders ^ | National Insiders Staff
    Americans had a collective fit when they learned about Nancy Pelosi’s insane new “relief” bill. The massive spending package would cost us $3 trillion dollars. All of it would go to Democrat “wish lists.” Immediately, the White House promised they would never sign such a bill. Now, Pelosi is backtracking. You have to give it to Nancy Pelosi. The old gal doesn’t give two rats asses about America. When Congress was trying to pass funding to save small businesses, she held it up… twice. Then, she closed the House, preventing lawmakers from continuing to provide solutions during the crisis. Meanwhile,...
  • Newt Gingrich: Pelosi’s crazy $3T coronavirus spending bill may have secret purpose – Don’t underestimate her

    05/16/2020 8:46:45 AM PDT · by jazusamo · 45 replies
    Fox News ^ | May 16, 2020 | Newt Gingrich
    When House Speaker Nancy Pelosi announced the $3 trillion coronavirus spending bill she and her allies had written – a bill passed by House Democrats Friday night with only a single Republican vote in support – my first reaction was that it would be dead on arrival in the Senate and that the move made no sense. The bill is the most expensive spending bill ever passed in the history of the House of Representatives, but Pelosi took no public comment, no Republican input, and didn’t consult with the Republican-controlled Senate or the White House on the bill. As we...

    05/14/2020 4:51:01 PM PDT · by Hojczyk · 6 replies
    Powerline ^ | MAY 14, 2020 | STEVEN HAYWARD I
    • There is so much good (and also bad) analytical work appearing every day that calls into question the conventional wisdom about both COVID-19 and the hard lockdown remedy that just about every country has adopted. There’s so much that I can’t keep up, and can’t decide from day to day which items to pass along to Power Line readers. Fortunately for us, the British journalist Toby Young has put together a pretty good one-stop-shopping site called Lockdown Sceptics. Worth a look each day. Other good recent reads on lockdown skepticism include Conor Friedersdorf in The Atlantic (“Take the Shutdown...
  • Let's Not Waste a Crisis

    05/13/2020 4:34:21 AM PDT · by Kaslin · 2 replies ^ | May 13, 2020 | Walter E. Williams
    Former Barack Obama adviser Rahm Emanuel, during a recent interview, reminded us of his 2008 financial crisis quotation, "Never allow a crisis to go to waste." The COVID-19 pandemic has presented a wonderful opportunity for those of us who want greater control over our lives. Sadly, too many Americans have already taken the bait. We've allowed politicians and bureaucrats to dictate to us what's an essential business and what isn't, who has access to hospitals and who hasn't, and a host of minor and major dictates. Leftist politicians who want to get into our pocketbooks are beginning to argue that...
  • Secrecy of Trump's taxes, financial records on the line in Supreme Court arguments

    05/11/2020 5:55:01 PM PDT · by yesthatjallen · 16 replies
    NBC ^ | 05 11 2020 | Pete Williams
    President Donald Trump's lawyers will urge the Supreme Court on Tuesday to let him block access to his tax returns and other financial documents sought by three congressional committees and a New York prosecutor. In one of the most closely watched disputes of the court's term, the cases will test the justices' independence and could yield major rulings on the power of Congress to demand documents from a sitting president — or the authority of a president to refuse. The court will hear the two separate cases by telephone conference call with each justice taking a turn to ask questions,...
  • Samaritan’s Purse Gets Tax Bill After Discharging Last Patient at NYC Field Hospital

    05/10/2020 5:14:58 PM PDT · by marshmallow · 60 replies
    The Christian Post ^ | 5/9/20 | Anugrah Kumar
    Gov. Andrew Cuomo is asking Samaritan’s Purse to pay state taxes after the Christian humanitarian organization discharged its last patient this week — one of the over 300 COVID-19 patients it treated at a temporary hospital in New York City’s Central Park while facing a backlash due to its statement of faith. “We’re not in a position to provide any subsidies right now because we have a $13 billion deficit,” Cuomo said at a daily press briefing this week, Fox News reported Friday. According to a New York state law, anyone working in the state for more than 14 days...
  • How Trillion-Dollar Deficits Kill Blue-Collar America, And Coronavirus Bailouts Make It Worse

    05/11/2020 6:52:05 AM PDT · by Kaslin · 17 replies
    The Federalist ^ | May 11, 2020 | Willis L. Krumholz
    Because of the coronavirus bailouts, the federal deficit is now expected to be $3.7 trillion for fiscal year 2020. This is a huge drag on Americans' earnings and retirement security. Coronavirus panic is hitting the global economy, and America is no exception. To patch over the shelter-in-place orders and compensate closed businesses, Congress has passed well more than $2.7 trillion in so-called stimulus, including subsidized loans to businesses, increased unemployment insurance, direct payments to Americans, and funding for hospitals and state and local governments.Because of this, the federal deficit is now expected to be $3.7 trillion for fiscal year 2020....
  • Givers and Takers: Democratic governors’ arguments that their states are “donors” doesn’t hold water.

    05/10/2020 3:53:32 PM PDT · by RightGeek · 8 replies
    City Journal ^ | 5/8/2020 | Steven Malanga
    For decades, the biggest portion of Washington expenditures has been retirement income sent to individuals from the federal government, principally in the form of Social Security or retirement benefits for federal workers. The studies track this money as it is sent to the states where people reside in retirement. New York has consistently ranked near the bottom in the amount of these funds that it receives because it’s not a desirable place to retire and has one of the highest rates of out-migration to other states. ... New York is a “donor” state insofar as its citizens take their retirement...
  • The "Plan" (chicago)

    05/10/2020 5:32:44 PM PDT · by dynachrome · 17 replies
    secondcitycop ^ | 5-10-2020 | Second City Cop
    rumor at this point, but completely believable: Rumor has it that city considering doubling water, garbage, city sticker and neighborhood parking permit fees. This on top of much higher tax levy on all home values. They have been told that about 1/2 of the canceled conventions will not be booking in the city any longer. They have found better less costly facilities and much better weather. But no worries the city will make up the lost revenues by their new taxing policies. Budget cuts, head count cuts, furloughs or buyouts were never discussed at the round table. First shoe to...
  • NY Gov Declares 90-Day Rent "Holiday" [semi-satire]

    05/10/2020 10:40:18 AM PDT · by John Semmens · 7 replies
    Semi-News/Semi-Satire ^ | 10 May 2020 | John Semmens
    Gov. Andrew Cuomo (D-NY) issued an executive decree absolving all tenants from having to pay rent until August 20. "Since it was my previous decree barring all nonessential businesses from operating during the pandemic that ended the employment of millions of workers, it is only fair that I also decree that no one be required to pay rent until I deem it appropriate to allow these businesses to reopen," he said. The Governor acknowledged that "this may seem unfair to landlords who will lose their incomes during the rent holiday. But as former President Jimmy Carter said, 'life is unfair.'...
  • White House mulls pushing tax deadline to September or December

    05/09/2020 4:08:42 PM PDT · by rintintin · 29 replies
    The Hill ^ | May 8 2020 | BY MARINA PITOFSKY
    The White House is considering again delaying the deadline to file federal taxes and adopting economic measures to support Americans that do not require further legislation from Congress, NBC reported. Tax Day, which has already been pushed from April 15 to July 15, could be extended to Sept. 15 or Dec. 15, although an official decision has not been made, the outlet reported, citing two people familiar with the discussions. Trump administration officials have also considered blocking new federal regulations amid the ongoing coronavirus pandemic, NBC News reported. Additionally, White House officials are assessing whether the president can protect businesses...
  • Bill de Blasio is hopelessly out of his depth in NYC’s new fiscal crisis

    05/07/2020 11:18:33 PM PDT · by knighthawk · 22 replies
    NY Post ^ | May 07 2020 | Chaim Deutsch
    We are beginning to see a light at the end of the coronavirus tunnel. But there are hard times ahead for our nation, state and beloved New York City. The choices we make now will ­determine how quickly we ­recover. Vague and contradictory policies — the kind we’re all too accustomed to from this mayoralty — won’t help. Mayor Bill de Blasio reacted too late to the health side of the crisis, delaying lockdowns when a week or two earlier could have reduced deaths by as much as 80 percent, according to former city Health Commissioner Dr. Tom Frieden. As...