Free Republic

At some point in the near future—whether a few days or a few weeks—the Congressional Budget Office (CBO) will release a complete score of the spending spree legislation Speaker Nancy Pelosi, D-California, and House leaders introduced on Nov. 3. The document will represent the first complete CBO analysis of any of the multi-trillion-dollar spending bills that Democrats have spent the fall writing, then re-writing. Two budgetary analyses suggest CBO could find the most recent version of the legislation increases the deficit. A Penn-Wharton analysis of the White House’s policy framework concluded it would spend $1.87 trillion over ten years while...

This is a huge hit to the wallet. Most Americans pay close attention to how much of their money is taken in taxes each year. But there’s another, less obvious way the federal government imposes financial costs on citizens—and according to a new report, it amounts to trillions annually. The fiscally-conservative Competitive Enterprise Institute (CEI) just released its annual “Ten Thousand Commandments” report, which documents the “size, scope, and cost of federal regulations, and how they affect American consumers, businesses, and the U.S. economy at large.” Report author Clyde Wayne Crews explains how we face a “hidden tax” from the...

Biden went out of his way to avoid paying Obamacare taxes, using a loophole that tax experts said he put in place solely to reduce his tax bill.On Monday, the delayed due date for filing federal taxes for the last calendar year, the White House made a theatrical show of releasing President Biden’s 2020 tax returns. In so doing, the new administration wanted to show a contrast with Biden’s predecessor, Donald Trump, who did not release his tax returns.But while the White House emphasized the release of Biden’s returns, it does not want reporters to scrutinize the content of those...

Behind the scenes, congressional Democrats’ main priority is bringing back a big tax loophole for rich people in high-tax blue states: their donors. House Speaker Nancy Pelosi, D-Calif., has political priorities. During negotiations over the three Wuhan coronavirus stimulus bills, Pelosi and Senate Minority Leader Chuck Schumer, D-N.Y., tried to include loans for abortion providers, as well as a bailout of the Obamacare exchanges that would end up funding abortion.That led to some bad PR for Pelosi, but the House speaker may be a glutton for punishment. If there’s one thing Democrats are beholden to more than the abortion lobby,...

The Internal Revenue Service (IRS) has updated the main form individual U.S. taxpayers use to report their income to include a question about cryptocurrencies. Following the release earlier this week of the IRS’s long-awaited guidance for reporting crypto-related income, the IRS on Friday circulated a draft of the new Form 1040, Schedule 1, Additional Income and Adjustments to Income. The draft was shared in an email to tax software companies, which the agency also shared with journalists. The sheet, prefaced by a warning that it’s only a draft and not an actual document for filing taxes, asks at the top:...

An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax ... The top 1% of taxpayers pay a higher effective income-tax rate than any other group (around 23%, according to a report released by the Tax Policy Center in 2014) — nearly seven times higher than those in the bottom 50%. On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax...

The day when the nation collectively has made enough money to pay its total tax burden for the year is three days later this year, according to a new report. According to a report released Monday by the Tax Foundation, this year Tax Freedom Day falls 111 days into 2014, on April 21. By April 21, to group says, Americans will have made enough to pay the $3 trillion in federal taxes and $1.5 trillion in state taxes — more than they will spend on food clothing and housing combined.

HARRISBURG, Pa. (CBS) — Same-sex couples legally married in another state may face extra time filling out their tax forms in Pennsylvania.Pennsylvania doesn’t recognize same-sex marriages, so if a couple was legally married in another state, the partners can not file a joint state tax return here. “Typically, if folks file jointly or separately, they most times would not have any difference in the tax liability in Pennsylvania,” notes Rosalind Sutch, a CPA with the firm of Drucker & Scaccetti, in Philadelphia, “so the requirement that Pennsylvania has recently noted on its web site that folks of the same sex...

What will your typical paycheck look like in 2014 after Uncle Sam's G-men have gotten their dirty, stinking ape paws all over it? Obviously, the answer to the question of how much of your income will be left over for you after the federal government has snatched a good part it depends upon quite a lot. How much income will you make? How many withholding allowances have you set up with your employer on your IRS Form W-4? How much pre-tax contributions will you be making toward your retirement plan or your health care or dependent care flexible spending...

Lou Dobbs Tonight -- CNN -- November 14 "They're using identities of American citizens and the IRS is allowing it to happen." Casey Wian: More than 1,300 illegal aliens near Greeley, Colorado, have been using either stolen or phony Social Security numbers to receive at least $2.5 million in tax refunds, according to local law enforcement officials. (unbelievalbe video clip) Chief Jerry Garner, Greeley PD: These folks that are here illegally are victimizing American citizens by stealing their identity. Very, very often they are victimizing American citizens who are Latino. John Cooke, Weld County Sheriff: They're using identities of American...

Just when you think, you have heard it all something else pops up. I have stated my opinion on the state's effort to utilize tolls as the future funding for highways in Texas. Just in case you missed it, I oppose the idea of tolls being the primary source of funding for state highways. I need to clarify my opposition by stating I am not so much opposed to new toll roads, but rather the idea of tolling existing roads. A large portion of the price for a gallon of gas goes to the state and federal folks for highway...

The newspapers are suddenly full of hypothetical plans to sextuple the federal gasoline tax, with well-timed insinuations that this might be a post-election Republican ploy. On Oct. 8, The New York Times ran a story called, "Raise the Gas Tax? Funny, It Doesn't Sound Republican," citing half a dozen Republican economists and a token Democrat. On Oct. 20, The Wall Street Journal ran "Raise the Gas Tax" by former Bush adviser Greg Mankiw. As taxes go, a tax on motor fuels (including ethanol) is not one of the worst. Mankiw thus argues that, "An increased reliance on gas taxes over...

October 7, 2006 New York -- Six officials of the Gloria Wise Boys and Girls Club stole $1.2 million from the group, money meant for needy kids and seniors, a city probe has found. Investigations Commissioner Rose Gill Hearn calls it "disgusting" - the worst case of wrongdoing by a non-profit contractor she's seen since taking office. Thank goodness the thieves will be going to jail for a very long time - and paying back every cent, and then some. Well, actually, that's not quite true. In fact, nobody is going to jail. Not even for a single day. And...

While the media continues to blame the big oil companies for gouging U.S. motorists as they collect record breaking profits, the windfall profits raked in by the government in the form of energy tax revenue actually dwarf the oil companies' jackpot. The press sounded the alarm last year when the largest U.S. oil company, ExxonMobil Corp, announced profits of $36 billion. But according to the Tax Foundation, the biggest price gouging profiteer was the U.S. government, cashing in to the tune of $54 billion in oil and gas taxes. "Tax collections on the production and import of gasoline by state...

A new documentary dealing with the Federal Reserve system, income tax and government power is making its way around the nation this year, telling the story of "America: From Freedom to Fascism." The film was created by Aaron Russo, a Libertarian presidential candidate in 2004 and longtime movie producer. After losing the presidential nomination to Michael Badnarik, Russo began working on creating the documentary. Making its way through Oregon last week, the film pre-screened in Spokane, Wash., Monday and now is on its way to Illinois and Michigan, according to an online schedule of showings. It is set to hit...

Undaunted by bad publicity, Metro light-rail trains continue to barge recklessly into cars and pedestrians. Equally undaunted, some cars and pedestrians continue to barge into the trains. But just how many collisions have occurred? There is some dispute. Metro's count, as of August 4, is 99. In its world, Houston is waiting breathlessly for that historic 100th crash. For a lot of Metro-crash aficionados, though, that momentous entry into triple digits is old news. John Gaver, an IT guy who runs the conservative Webzine Action America, has kept an exacting eye on the number of Metro incidents, and he has...

A pickup driver was killed in downtown Houston late Tuesday when his vehicle was broadsided by a Metro light rail train, the first fatality on the rail line since it opened to the public in January 2004. The accident happened shortly before 10:30 p.m. on southbound Main at Jefferson. The driver, who was killed on impact, was believed to be a man in his 30s. He was the only person in the Dodge pickup truck, police said. Veda Flores was following the pickup truck when she said the driver drove through a red light and into the path of the...

RIDING THE RAIL Late-night rail service's fate riding on Metro evaluation Low ridership could spell end to 'last call' trains By LUCAS WALL Copyright 2004 Houston Chronicle Late-night bar patrons downtown might be running out of time to use the train as their designated driver. Metro is reviewing whether to continue late rail service on Friday and Saturday nights. The extended weekend hours began in June at the request of city officials and downtown businesses who hoped the availability of the rail ride might lure more customers. It hasn't happened. "Ridership has been disappointing, but Metro leadership is now working...

Headline on paper front page online. Controversial Metro Rail hits Prison bus. More details to follow.

ChronicallyBiased.com has learned of an apparent new Houston Chronicle policy regarding light rail's notorious accident rate. The Chronicle will no provide coverage of many Metrorail collisions. News of the policy appears in an message by the Chronicle's Lucas Wall on Wednesday: From: Wall, Lucas; XXXX@XXXXX Date: Wed Aug 4, 2004 3:46 pm Subject: MetroRail Crash NumbersI’m not going to continue this debate. But FYI, the Chronicle is no longer reporting every light rail collision in the paper. This decision has to do with space constraints and the fact we do not report on every fender bender car crash. But we...