Keyword: revenue

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  • Comptroller Study Shows Difficulty of Predicting Future (TX)

    09/04/2014 1:29:44 PM PDT · by smokingfrog · 8 replies
    Texas Tribune / myhighplains.com ^ | 9-4-14 | Aman Batheja and Jessica Hamel
    As Texas lawmakers convene in January for the next legislative session, their chief task will be to write a two-year budget. And the state's next comptroller will be charged with estimating how much revenue lawmakers can expect to work with. The responsibility has become a political minefield, particularly after Comptroller Susan Combs’ estimate ahead of the 2011 session drew criticism for underestimating tax revenue by several billion dollars. Combs’ office recently researched the accuracy of revenue estimates going back 40 years and found that, by one measure, other comptrollers’ estimates have landed farther from the actual number. Since 1942, the...
  • Yes, if You Cut Taxes, You Get Less Tax Revenue (anti-KS fail)

    06/29/2014 2:14:53 AM PDT · by Olog-hai · 13 replies
    New York Times ^ | June 27, 2014 | Josh Barro
    Kansas has a problem. In April and May, the state planned to collect $651 million from personal income tax. But instead, it received only $369 million. In 2012, Kansas lawmakers passed a large and rather unusual income tax cut. It was expected to reduce state tax revenue by more than 10 percent, and Gov. Sam Brownback said it would create “tens of thousands of jobs.” In part, the tax cut worked in the typical way, by cutting tax rates and increasing the standard deduction. But Kansas also eliminated tax on various kinds of income, including income described commonly—and sometimes misleadingly—as...
  • French tax increases bring in about half of expected revenue

    05/29/2014 7:07:44 AM PDT · by SeekAndFind · 12 replies
    Am ^ | 05/29 | Rick
    <p>French President Francois Hollande woke up to a nasty surprise yesterday - a 14 billion euro shortfall in his budget due to wildly inaccurate priojections of how much revenue would be generated by his massive tax increases.</p> <p>Like politicians in Illinois, New York, and California who banked on big tax incresases on the "rich" to bankroll their spending, Hollande has discovered the law of diminishing returns; people will either seek to avoid the higher taxes or simply refuse to earn the higher income. In the case of France, several high profile citizens have left for greener - and lower tax - pastures.</p>
  • Cigarette Smuggling Undermines Tax Revenue

    05/19/2014 7:20:11 PM PDT · by MichCapCon · 52 replies
    Capitol Confidential ^ | 5/17/2014 | Michael LaFaive
    Since 2008, Mackinac Center for Public Policy analysts have periodically published estimates of cigarette smuggling in 47 of the 48 contiguous states. The numbers are quite shocking. In 2012, more than 27 percent of all Michigan in-state consumption was smuggled. In New York, almost 57 percent of all cigarettes consumed in the state were also illicit. This has profound effects on the revenue generated by state (and sometimes local) government. Clicking on the graphic at right brings up a chart of estimates we made for 2012. In the "smuggling rate" column a positive percentage indicates a net export state. For...
  • Minnesota Supreme Court forfeiture case could affect 'policing for profit'

    05/12/2014 12:11:35 PM PDT · by TurboZamboni · 29 replies
    Pioneer Press ^ | 5-12-14 | Hal Davis
    To the trial judge, the case of Daniel Garcia-Mendoza seemed to be a police stop based on "driving while Latino." Plymouth police officer Ryan Peterson said he was suspicious because "the driver had both hands on the steering wheel and was looking straight ahead." What's more, neither driver nor passenger "were looking at me." Checking the license plate, Peterson learned there was no driver's license listed for the car's owner. Peterson pulled over the 2003 Chevy Tahoe on Interstate 94 in Minneapolis on March 19, 2012. "Luckily for Peterson, perhaps," neither Garcia-Mendoza nor his passenger had a driver's license, the...
  • Is it fair to cite drivers on Pockmark Pathway?

    05/09/2014 4:36:56 AM PDT · by TurboZamboni · 9 replies
    Pioneer Press ^ | 5-6-14 | Rubén Rosario
    Even before resident Allen Moe got socked with a ticket for trying to avoid hitting potholes, I had already renamed a badly pockmarked section of Shannon Parkway in Rosemount "Moon Crater Boulevard." Now, I'm sure many Twin Cities motorists have done similar nomenclature revisions, given the plethora of potholes from this past winter of woe. I hear Wheelock Parkway in St. Paul is now called Wheeloff Parkway. A motorist was seriously injured recently when his airbags deployed after he inadvertently hit a large pothole. Auto shops are overbooked with suspension, tire and alignment repairs. So I was taken aback by...
  • Obama plan: Cut tax breaks for richest retirement savers

    02/21/2014 1:32:19 PM PST · by stevie_d_64 · 44 replies
    Wall Street Journal (Market Watch) ^ | February 21, 2014 | Robert Powell
    President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% of income — and include an overall cap on all retirement accounts, including pensions, that could bring in $1 billion a year in new tax revenue, according to a Pensions & Investments report. Read Companies bracing for 1-2 retirement punch . According to the report,...
  • LAPD to pay $10 million in traffic ticket quota controversy

    12/11/2013 4:43:51 PM PST · by Navy Patriot · 14 replies
    LA Times ^ | December 11, 2013 | Joel Rubin and Catherine Saillant
    The Los Angeles City Council on Tuesday agreed to pay nearly $6 million to a group of police officers who accused their superiors of imposing a secret traffic ticket quota system on the Westside. The settlement, approved unanimously, brings to more than $10 million the amount of taxpayer money spent on payouts and legal fees from the ticket quota cases. But that number could grow because one more officer's case is still pending. The ticket controversy has been a black eye for the Los Angeles Police Department. Ticket quotas are against state law. After the officers’ allegations were made public,...
  • Emanuel speed cameras may bring in more revenue than expected

    10/13/2013 12:23:42 PM PDT · by Libloather · 36 replies
    Chicago Tribune ^ | 10/11/13 | Bill Ruthhart
    Chicago's first speed cameras at just four locations issued warnings to more than 233,000 speeders in 45 days, violations that would have totaled $13.8 million in tickets, according to data released by the city today. Mayor Rahm Emanuel has touted his speed camera program as a way to improve traffic safety for children near the city's parks and schools, but the early warning violations from Chicago's first speed cameras are the latest indicator that the fledgling program could be a financial windfall for the city. Emanuel has projected $15 million in speed camera revenue for the remainder of 2013, with...
  • Population Control Is Called Big Revenue Source in China

    09/27/2013 4:58:56 AM PDT · by rjbemsha · 4 replies
    New York Times ^ | 26 Sep 2013 | Edward Wong
    BEIJING — Nineteen province-level governments in China collected a total of $2.7 billion in fines last year from parents who had violated family planning laws, which usually limit couples to one child, a lawyer who had requested the data said Thursday. The lawyer, Wu Youshui of Zhejiang Province, sent letters in July to 31 provincial governments asking officials to disclose how much they had collected in 2012 in family planning fines, referred to as “social support fees.” He said he suspected that the fines were a substantial source of revenue for governments in poor parts of China. Mr. Wu’s findings...
  • Red light camera petition picks up speed ( Tucson )

    05/28/2013 12:12:54 PM PDT · by george76 · 26 replies
    KGUN9-TV ^ | May. 27, 2013 | Cory Marshall
    It is a petition to end what many Tucson drivers describe as a traffic light trap. John Kromko is the man behind the petition. His group, Tucson Traffic Justice, claims the cameras are a scam. ... Ditching the cameras is not as far-fetched as it may seem. More and more cities are shutting down the system including San Diego, Los Angeles and Tempe.
  • California Has More Money Coming In Than It Knows What To Do With It

    05/27/2013 7:46:50 AM PDT · by SeekAndFind · 45 replies
    Business Insider ^ | 05/27/2013 | Rob Wile
    California now has so much projected revenue that Sacramento legislators don't what to do with it, The New York Times' Adam Nagourney reports. The final budget surplus figure for 2014 will fall somewhere between $1.2 and $4.4 billion, depending on who's counting. "An unexpected surplus is fueling an argument over how the state should respond to its turn of good fortune," writes Nagourney. Just three years ago, of course, the state was running a $60 billion deficit. The surplus is almost certainly the result of wealthy Californians trying to bank capital gains before the Bush tax cuts expired, Nagourney says.
  • Feds Want To Lower Legal Blood Alcohol Limit for Drivers

    05/17/2013 8:46:37 AM PDT · by Altariel · 39 replies
    Reason ^ | May 14, 2013 | Reason.com
    Federal accident investigators recommended Tuesday that states cut their threshold for drunken driving by nearly half, matching a standard that has substantially reduced highway deaths in other countries. The National Transportation Safety Board said states should shrink the standard from the current .08 blood alcohol content to .05 as part of a series of recommendations aimed at reducing alcohol-related highway deaths. More than 100 countries have adopted the .05 alcohol content standard or lower, according to a report by the board's staff. In Europe, the share of traffic deaths attributable to drunken driving was reduced by more than half within...
  • Florida sues companies over 2010 oil spill [Third Anniversary was Saturday]

    04/22/2013 8:28:07 AM PDT · by SoFloFreeper · 3 replies
    CNN ^ | 4/21/13 | Mariano Castillo
    The state of Florida on Saturday filed a lawsuit against BP and Halliburton over the 2010 Deepwater Horizon oil spill. The suit argues that Florida is entitled to the revenues it lost because of the spill. These include a long list of lost taxes -- sales, corporate, cigarette, liquor -- and other forms of revenue...
  • "Revenue" Redefined: Libs abuse another innocent word

    01/17/2013 8:46:31 PM PST · by Daniel Clark · 2 replies
    The Shinbone: The Frontier of the Free Press ^ | January 17, 2013 | Daniel Clark
    “Revenue” Redefined: Libs abuse another innocent word by Daniel Clark Sometimes it seems like it would be a good idea to publish a liberal-to-English dictionary. That way, normal people would be able to understand what liberals mean when they take already existing words, and apply meanings to them that are nowhere close to their true definitions. Listening to liberals speak can be like visiting Alice’s Wonderland. Taking things that belong to somebody else is what they call “fairness.” Parading through town while wearing leashes and chains and nothing else is an exhibition of “pride.” Violent criminals who are turned loose...
  • Democrats look for up to $1 trillion in new tax revenues this year

    01/07/2013 2:38:34 AM PST · by Libloather · 31 replies
    The Hill ^ | 1/07/13 | Alexander Bolton
    Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending. Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years. The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes. This sets up tax reform as one of the biggest fights of the 113th...
  • Dems will need new game plan to score tax revenue (Commiecare™ kicks in)

    01/03/2013 1:55:43 AM PST · by Libloather · 6 replies
    Politico ^ | 1/02/13 | STEVEN SLOAN
    The fiscal cliff deal handed Democrats a tax victory years in the making, but it also means the party will need a new playbook for the budget battles that lie ahead. That’s because many Democrats readily acknowledge that they’ve exhausted their ability to raise taxes on the richest Americans by jacking up their rates. The historic tax agreement passed by Congress this week raises rates on top earners from 35 percent to 39.6 percent. Meanwhile, provisions from the 2010 health care law kicked in Jan. 1, increasing rates on investment income from 15 percent to almost 24 percent for the...
  • The Continuing Exodus of Jobs – and Taxable Income – from California

    12/29/2012 9:40:01 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | December 29, 2012 | Daniel J. Mitchell
    Like most people, I’m a sucker for a heartwarming story around the holidays. Sometimes, you get that nice feeling when good things happen to good people, like you find at the end of a classic movie like “It’s a Wonderful Life.” But since I’m a bit of a curmudgeon, I also feel all warm and fuzzy when bad things happen to bad people. That’s why I always smile when I read stories about taxpayers moving across borders, thus preventing greedy tax-hiking politicians from collecting more revenue. “Where’s our tax revenue?!?” I’m glad when that happens to French politicians. I’m glad...
  • Obama’s money misunderstanding: Raising revenue by raising taxes doesn’t work

    12/18/2012 5:25:22 AM PST · by SeekAndFind · 23 replies
    Washington Times ^ | 12/18/2012 | Richard Rahn
    In times past, political leaders would lay out their domestic and foreign policies in clear, coherent terms. President Obama talks about getting our fiscal house in order but fails to propose any meaningful spending cuts. His proposals to increase the tax rate on the top 2 percent of taxpayers would fund the government for eight days, assuming no behavioral change by those whose feathers are being plucked. In the real world, we know people will spend a great deal of time and effort to avoid paying high marginal tax rates. In high tax states such as California and New York,...
  • Wake Up Republicans, Rising Federal Revenues Are A Very Bad Thing

    12/17/2012 6:58:52 AM PST · by SeekAndFind · 21 replies
    Forbes ^ | 12/17/2012 | John Tamny
    Amid the ongoing “fiscal cliff” battle, a popular argument about tax revenues has been reintroduced by Republican-leaning commentators. Eager to disarm facile Democratic proposals meant to erase federal deficits through higher tax rates levied on top earners, conservative pundits have published voluminous commentary and stats showing that income tax increases on the rich don’t produce the revenues desired. In USA Today, Michael Medved wrote that “The problem with this odd wave of high tax nostalgia is that it ignores one crucial fact about the Eisenhower era: Higher tax rates on a few wealthy taxpayers didn’t produce higher revenues.” Writing in...
  • Tax Fairness | Reverse Parity

    12/02/2012 4:30:25 PM PST · by NaturalBornConservative · 13 replies
    Natural Born Conservative ^ | December 2, 2012 | Larry Walker Jr
    It’s Magic!- By: Larry Walker, II -The current 2012 Tax Rate Schedule is shown below. Applying the Obama-Doctrine, single filers making over $200,000, and married filers making over $250,000 would get a tax hike. However, since there is no cut-off at either $200,000 or $250,000 in the current tax rate schedule, the 33% bracket would need to be split, resulting in a sharp tax increase for a handful of unfortunate individuals. Thus, taxpayers with taxable incomes between $200,000 ($250,000 if married) and $388,350 would see their taxes rise by 20%, while those with incomes over $388,350 would get that plus...
  • Here's Why Google Could Disappear in Five Years: Pro

    10/21/2012 5:55:10 AM PDT · by TigerLikesRooster · 37 replies
    CNBC ^ | 19 Oct 2012 | Cadie Thompson
    Here's Why Google Could Disappear in Five Years: Pro Published: Friday, 19 Oct 2012 | 12:25 PM ET By: Cadie Thompson Technology Editor, CNBC.com Google may be on its way out as the dominant player in search, according to one analyst — and could even "disappear" in as little as five to eight years if the competitive pressures that ultimately claimed other search giants start to take root. In the wake of a surprisingly weak earnings report, Eric Jackson, Ironfire capital founder and managing member, said Google Google [GOOG 681.79 -13.21 (-1.9%) ] could easily find itself fending off the...
  • Romney Ryan must articulate success of Reagan Bush tax cuts, declaw Obama's rhetoric

    09/03/2012 7:03:36 PM PDT · by shoedog · 9 replies
    multiple media outlets | 9/3/2012 | self
    Republicans need to challenge and layout the truth of the Reagan Bush tax cut policies. Ryan is jut the man to do it. They have to explain that Government Revenues rose after these tax cuts, which is the exact purpose of taxes to drive government revenue (not to worry about percentages people pay but the real dollars that are driven into the government revenue. They have to then explain that spending more than those revenues is what drove the debt up. Finally give an example to disprove increasing tax rates raises more revenue by using the state of Maryland Millionaire...
  • The Red/Blue Paradox

    05/23/2012 7:10:01 AM PDT · by GLH3IL · 15 replies
    Reason.com ^ | September 2011 | Veronique de Rugy
    When you compare the 50 laboratories of democracy after sorting them based on how their citizens voted in November 2008, only 10 Democratic-voting states are net recipients of federal subsidies, as opposed to 22 Republican states. Only one red state (Texas) is a net payer of federal taxes, as opposed to 16 blue states. One blue state (Rhode Island) pays as much as it gets.
  • Does Hiking Tax Rates Raise More Revenue?

    04/09/2012 8:31:38 AM PDT · by Son House · 19 replies
    MarketWatch.com ^ | July 2, 2010 | Kurt Brouwer
    We really don’t know what the optimum tax rate would be that maintains revenues at 18-20% of GDP while allowing for maximum GDP growth, but we do know that economic growth is good for everyone and as the economy grows, tax revenues grow automatically. Ideally, our leaders in Washington would try to figure out the optimum tax structure to generate revenues at 18-20% of GDP while stimulating economic growth. Once that level is determined, I believe they should set the rate and forget it. Unfortunately, tinkering with the tax code seems to be irresistible to almost all politicians. In addition,...
  • Exodus: California Tax Revenue Plunges by 22%

    03/13/2012 7:41:31 PM PDT · by Nachum · 92 replies
    Breitbart ^ | 3/13/12 | Chriss W. Street
    State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., 'I have found it'. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011. (snip) California politicians seem delusional in their continued delusion that high taxes have not savaged
  • This is what raising taxes on the 'rich' will get you (Britain raises LESS revenue)

    02/23/2012 6:58:40 AM PST · by SeekAndFind · 9 replies
    American Thinker ^ | 02/23/2012 | Rick Moran
    Great Britain has instituted a 50 pence tax assessment on incomes and it failed to generate the expected revenue.Duh.Telegraph: The Treasury received Ł10.35 billion in income tax payments from those paying by self-assessment last month, a drop of Ł509 million compared with January 2011. Most other taxes produced higher revenues over the same period.Senior sources said that the first official figures indicated that there had been "manoeuvring" by well-off Britons to avoid the new higher rate. The figures will add to pressure on the Coalition to drop the levy amid fears it is forcing entrepreneurs to relocate abroad.The self-assessment...
  • Pemex's woes may clear way for Brazil to help

    04/02/2008 11:28:28 AM PDT · by thackney · 3 replies · 47+ views
    Houston Chronicle ^ | April 1, 2008 | THOMAS BLACK and ANDRES R. MARTINEZ
    Mexico's leader sees potential in progress of Petrobras Guillermo Najera, a 42-year-old machine operator at Mexican state-controlled oil company Petróleos Mexicanos, gets paid to do nothing all day. Pemex management can't fire the union worker or transfer him from the ammonia plant in Ciudad Camargo, where he still shows up for work even though the plant stopped production in 2002. "We don't have anything else to do except keep our areas clean," Najera says as he and dozens of other idle workers enter the gates of the plant for the 7 a.m. shift. "I want to go back to work."...
  • Hospital pays $1 million for name on Plano [TX] rec centers

    11/30/2011 9:24:04 PM PST · by re_nortex · 7 replies
    WFAA-TV ^ | November 30, 2011 at 9:58 PM | STEVE STOLER
    The City of Plano and Texas Health Presbyterian Hospital are expected to approve an agreement that would let the hospital sponsor four city recreation centers. It's a new and innovative way for the city to collect revenue at a time when budget shortfalls have become common. Once the deal is approved, the hospital's logo will be on the upstairs jogging track. Signs will be placed on walls that are now bare, and also on outside monuments.
  • Mark Levin Show: Death Panels Will Be A Reality With Obamacare [Youtube video]

    11/23/2011 8:21:54 PM PST · by No One Special · 155 replies
    Youtube ^ | November 22, 2011 | Mark Levin Show via Youtube
    A neurosurgeon, vetted by Levin's staff, calls Mark and talks about what he knows about Obamacare Death Panels. From 11/22/11
  • Rooting for Failure: Democrats Walk Away from Super Committee

    11/10/2011 10:08:08 AM PST · by Driftwood1 · 14 replies
    Townhall ^ | 11-10-11 | Guy Benson
    Republicans offered a debt reduction blueprint that includes meaningful tax reform, needed spending cuts, and at least $300 Billion in increased federal revenue -- the piece of the puzzle the Left relentlessly focuses on. Yet Democrats just aren't interested:
  • Forty House Republicans sign letter encouraging Super Committee to consider new revenues

    11/04/2011 6:36:15 PM PDT · by mnehring · 55 replies
    I’m a day late on this but it’s too intriguing not to blog. You can read the actual letter, which is exceedingly tame, on Mike Simpson’s website. Among the signatories: …Ron Paul. The bad news? If this happens, some people might be paying a little more. The good news? We’ll never have to read another “time for a grand bargain” column from Tom Friedman again. Dude, I think we should take the deal. A group of 40 House Republicans for the first time Wednesday encouraged Congress’s deficit reduction committee to explore new revenue as part of a broad deal that...
  • Let's sell federal lands to the oil companies

    11/02/2011 9:33:37 PM PDT · by Space Patrol Hoppa · 35 replies
    Richmond Times-Dispatch ^ | April 20, 2011 | James H. Boykin, Ph.D.
    Two interrelated issues confront the taxpayers: The insolvency of the federal government and its seemingly never-ending barriers against the production and distribution of affordable energy. The assertion that the United States has less than 5 percent of the world's population but consumes 26 percent of its energy fails to mention that the U.S. produces 26 percent of the world's industrial output. Another contrived assault against expanded domestic oil production is that the U.S. has only 3 percent of the world's oil reserves. This number is questionable, especially since the federal government either has made it illegal to explore for oil...
  • The debt fallout: How Social Security went ‘cash negative’ earlier than expected (Obama's Fault)

    10/31/2011 3:51:02 AM PDT · by tobyhill · 17 replies
    washington post ^ | 10/31/2011 | By Lori Montgomery
    Last year, as a debate over the runaway national debt gathered steam in Washington, Social Security passed a treacherous milestone. It went “cash negative.” For most of its 75-year history, the program had paid its own way through a dedicated stream of payroll taxes, even generating huge surpluses for the past two decades. But in 2010, under the strain of a recession that caused tax revenue to plummet, the cost of benefits outstripped tax collections for the first time since the early 1980s. Now, Social Security is sucking money out of the Treasury. This year, it will add a projected...
  • FLASHBACK: Obama Says Raising Taxes Not About Revenue But About Fairness

    10/20/2011 8:48:50 PM PDT · by cruise_missile · 24 replies
    Townhall ^ | Jul 15, 2011 | Katie Pavlich
    Remember when President Obama was a U.S. Senator talking about how raising taxes is about "fairness?" We do. In the following clip, Charlie Gibson explains how history shows lowering the capital gains tax actually increases government revenue. Gibson asks Obama, with the facts showing lower tax rates actually increase revenue, why raise the capital gains tax at all? Then Senator Obama responds by saying raising taxes is about fairness. http://townhall.com/tipsheet/katiepavlich/2011/07/15/flashback_obama_says_raising_taxes_not_about_revenue_but_about_fairness
  • Norquist: 9-9-9 puts 3 needles in taxpayer's arm

    10/13/2011 11:21:27 AM PDT · by Cincinatus' Wife · 28 replies
    Washington Examiner ^ | October 13, 2011 | Joel Gehrke
    Grover Norquist, president of Americans for Tax Reform, hit the two leading Republican presidential candidates this morning - one for spending issues and the other on his much-discussed tax plan. Former Gov. Mitt Romney, R-Mass., "thinks there's some sort of virtue in not criticizing Bush's [big spending] mistakes," Norquist said. Romney could correct that mistake, but Norquist was even less sanguine about Cain's 9-9-9 plan. "Having three taxes, all of which can grow - it's like having three needles in your arm taking blood out, it's much more dangerous than having one," Norquist explained. Norquist praised Cain for trying to...
  • The Missing Piece of 9-9-9

    10/13/2011 5:19:07 AM PDT · by Cincinatus' Wife · 369 replies
    The American Spectator ^ | October 13, 2011 | Green Lantern
    Herman Cain's "9-9-9" tax reform is attracting enough attention to become the focus of this week's Presidential debate. As a plan for overhauling revenues and unleashing the private sector, it's a bold gambit that shows Cain is willing to take chances and shake up the Capital. The 9 percent business tax is a stroke of genius. It would give us the lowest business rates in the world and would make us the "tax haven" for investment from everywhere. The stock market would barely be able to stay abreast. The 9 percent personal income rate would eliminate all the deductions and...
  • Sorry, Wrong Number 9-9-9

    09/30/2011 8:42:11 AM PDT · by Cincinatus' Wife · 64 replies
    The American Spectator ^ | Ross Kaminsky
    ....Of Mr. Cain's many ideas, the most well-known -- in part because of its clever sound-bite name -- is his 9-9-9 plan which aims to replace most current federal taxes (including income tax, death tax, payroll tax, capital gains taxes, and double-taxation of dividends) with a 9% flat tax for business income, a 9% flattax for individual income, and a 9% national salestax. The plan would eliminate almost all deductions. While Mr. Cain's consistent results-oriented approach is admirable -- not least for its contrast with the other candidates -- voters should be wary of the 9-9-9 plan despite its initial...
  • New government fees pepper Obama deficit plan

    09/19/2011 1:23:45 PM PDT · by cc2k · 20 replies
    http://www.newsvine.com/_news/2011/09/19/7842830-new-government-fees-pepper-obama-deficit-plan ^ | Mon Sep 19, 2011 3:24 PM EDT | Andrew Taylor, Associated Press
    WASHINGTON — It's not just millionaires who'd pay more under President Barack Obama's latest plan to combat the deficit. Air travelers, federal workers, military retirees, wealthier Medicare beneficiaries and people taking out new mortgages are among those who would pay more than $130 billion in new government revenues raised through new or increased fees. These fees are advertised as "savings" in administration budget documents.
  • Pelosi for tax reform only if it increases revenue

    09/16/2011 10:59:30 AM PDT · by Libloather · 14 replies
    The Hill ^ | 9/15/11 | Mike Lillis
    Pelosi for tax reform only if it increases revenueBy Mike Lillis - 09/15/11 01:21 PM ET The top House Democrat warned Thursday that the GOP's push for sweeping tax reform would win Democratic support only if it increases overall revenues. Republican leaders have been highly critical of the nation's 35 percent corporate tax rate, and Speaker John Boehner (R-Ohio) is expected Thursday to ask the budget supercommittee to overhaul the tax code as part of its deficit-slashing mandate. But House Minority Leader Nancy Pelosi (D-Calif.) preempted Boehner's speech Thursday with the stipulation that any such tax overhaul would have to...
  • 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...
  • "Revenue," according to Obama, means taxing the rich.

    07/15/2011 8:38:13 AM PDT · by OldNavyVet · 24 replies
    OldNavyVet | 15 July 2011 | Old Navy Vet
    What Obama and Democrats don't understand, is that tax cuts provide capital needed to start new businesses.
  • A Real No-Brainer

    07/12/2011 12:34:46 PM PDT · by Academiadotorg · 2 replies
    Accuracy in Academia ^ | July 12, 2011 | Malcolm A. Kline
    The Democrats, David Brooks claims, “have agreed to a roughly 3-to-1 rate of spending cuts to revenue increases, an astonishing concession.” Not if you know your recent history. “Congress is locked in yet another rending slugfest over tax increases,” the Heritage Foundation reported on November 14, 1983. “In one corner is Senate Finance Committee Chairman Robert Dole (R-Kan) who set off the bruising campaign last year that resulted in a $99 billion tax hike.” “That package promised three dollars in budget cuts for every one dollar in tax increases. It turned out to be a lemon. The actual result was...
  • Do we really have a revenue problem?

    07/07/2011 7:19:18 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 07/07/2011 | Ed Morrissey
    Over the last couple of days, we’ve had a good debate at Hot Air over the nature of our fiscal crisis between Jazz Shaw, and J. E. Dyer, and me. At least we all recognize that we have a fiscal crisis; some members of Congress and “intellectual authorities” (with interesting if unreported conflicts of interest) still act as though nothing at all is wrong. My friend Jazz wrote yesterday that we have a revenue problem as well as a spending problem in answer to my post rebutting David Brooks’ column, so let’s take a look at federal revenue to see...
  • Kyl: Republicans Agree to Revenue Increases in Deficit Talks

    07/06/2011 7:55:39 PM PDT · by RED SOUTH · 111 replies · 1+ views
    Foxnews ^ | July 06, 2011
    <p>GOP Senators and Speaker Boehner set to cave and raise taxes. This is the start of the set up.</p>
  • Steve Ballmer Spills Rough Year-End Revenue and Profit Numbers For Microsoft.

    06/30/2011 12:02:16 PM PDT · by SeekAndFind · 5 replies
    Business Insider ^ | 06/30/2011 | Matt Rosoff
    Microsoft stopped giving forward guidance a couple years ago when the company hit a rough patch, but yesterday at a Rotary event in Seattle, CEO Steve Ballmer spilled some rough figures about the company's 2011 fiscal year, which ends today. As reported by GeekWire's John Cook, who was at the event, Ballmer said: There’s a reason why we’ll do almost $70 billion in revenue this year, and we will make over $20, whatever, $26, $27 billion in profits. That $70 billion would be a 12% increase from last year's revenue of $62.5 billion, and would mean a quarterly revenue figure...
  • White House: 'Significant' debt deal possible (Dems propose $400-600 billion in new taxes)

    06/27/2011 1:45:09 PM PDT · by quesney · 244 replies
    WASHINGTON (AP) — The White House said Monday that a "significant" deal with Republicans on cutting government spending and raising the nation's debt limit is still possible, even as the administration hardened its stance on the need for increased tax revenue to be part of any agreement. President Barack Obama made his first direct foray into the deficit negotiations Monday. He met with Senate Majority Leader Harry Reid in the Oval Office for about 30 minutes Monday morning, and planned to meet with Republican Sen. Mitch McConnell in the early evening. White House spokesman Jay Carney said Obama's meeting with...
  • Conservatives should support increasing "revenues." (Vanity)

    06/20/2011 2:32:55 AM PDT · by eCSMaster · 16 replies
    Republicans should support targeted "Revenue Enhancements."
  • Why 70% Tax Rates Won't Work

    06/16/2011 5:13:30 AM PDT · by WOBBLY BOB · 33 replies
    WSJ ^ | 6-16-2011 | Alan Reynolds
    The intelligentsia of the Democratic Party is growing increasingly enthusiastic about raising the highest federal income tax rates to 70% or more. Former Labor Secretary Robert Reich took the lead in February, proposing on his blog "a 70 percent marginal tax rate on the rich." After all, he noted, "between the late 1940s and 1980 America's highest marginal rate averaged above 70 percent. Under Republican President Dwight Eisenhower it was 91 percent. Not until the 1980s did Ronald Reagan slash it to 28 percent."
  • A Credibility Deficit. Tax cuts DO NOT generally increase revenue.

    04/25/2011 7:14:56 AM PDT · by SeekAndFind · 28 replies
    National Review ^ | 04/25/2011 | Kevin Williamson
    Among sentences I do not like to write: Andrew Leonard is mostly right about this one. Tax cuts do not generally increase revenue, and Republicans should stop saying otherwise. But he’s not quite right to treat all these statements as equivalent: ---------------------------------------------------------------------------------------------------------------------------- Here’s Rep. Joe Walsh, (R-Ill.) the self-styled “conservative Tea Party activist” who upset Democrat Melissa Bean in the 2010 midterms, on ABC’s “This Week.” “In the ’80s, federal revenues went up,” said Walsh. “We didn’t cut spending. Revenues went up in the ’80s. Every time we’ve cut taxes, revenues have gone up. The economy has grown.” Walsh may...