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Keyword: tax

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  • Seattle Mayor Taxes Diet Soda Because ‘Affluent White People Drink More Of It’

    05/07/2017 9:50:14 PM PDT · by Helicondelta · 67 replies
    thegatewaypundit.com ^ | May 7th, 2017
    Via The Seattle Times: Mayor Ed Murray’s soda-tax legislation led to criticism it was unfair because white and affluent people tend to drink more diet drinks. The mayor’s revised proposal lowers the tax rate slightly and adds diet soda. The changes were recommendations that emerged when staff from the mayor’s office and the office of Councilmember Tim Burgess studied disparate impacts the tax could have on people with low incomes and on people of color, according to Murray. That work involved conversations with community advocates, public-health professionals and business owners, according to the mayor. After Murray’s initial announcement, some suggested...
  • Seattle Mayor Adds Diet Drinks to His Soda Tax ‘To Tackle White Privilege’

    05/07/2017 2:42:24 PM PDT · by Altura Ct. · 142 replies
    HeatStreet ^ | 5/6/2017
    The mayor of Seattle has altered the rules of his proposed soda tax — which would fund education for minorities–to include diet drinks because affluent white people tend to consume them more. Mayor Ed Murray of the staunchly liberal Seattle city originally proposed the soda tax during his state of the city address in February. Under his initial plan, distributors of sugary drinks would have to pay 2 cents per ounce. It would cover sodas such as Coke and Pepsi, energy drinks like Red Bull, fruit drinks, sweetened teas and bottled coffees such as those sold by Starbucks. The Mayor claimed the tax would bring $16 million in...
  • Apple’s Cash Hoard Set to Top $250 Billion

    04/30/2017 12:21:55 PM PDT · by DFG · 53 replies
    Wall Street Journal ^ | 04/30/2017 | Tripp Mickle
    In its quarterly results on Tuesday, Apple Inc. likely will report that its cash hoard has topped a quarter of a trillion dollars, an unrivaled milestone for a private corporation that raises a question: Why would any company want to hold that much money? Apple has added to its pile at a blistering pace, doubling it in just over four-and-a-half years. In the last three months of 2016 it wracked up new cash at a rate of about $3.6 million an hour. Its current total, not accounting for debt, exceeds the market values of Wal-Mart Stores Inc. and that of...
  • Rush: Idea for Democrats: A 90% Tax on Speaking Fees

    04/29/2017 1:48:12 AM PDT · by Yosemitest · 20 replies
    www.RushLimbaugh.com ^ | Apr 28, 2017 | Rush Limbaugh
    RUSH: Hey, did you see Obama’s accepted another $400,000 speech? That’s two of them now. The first $400,000 speech was from a Wall Street firm, Cantor Fitzgerald. It slips my mind who the second one is from, but I have an idea.That’s how much he made per year as president.And we’re toldthat liberals don’t care about money.We’re toldthat liberals do what they do for altruistic reasons.We’re toldthat liberals are compassionate.They care. They don’t care about getting rich, they aren’t rich, and they, of course, have negative comments and things to say about everybody who is rich. And yet when they...
  • President Trump Lowers Taxes For Small Businesses, Simplifies Tax Code!

    04/27/2017 4:57:33 AM PDT · by davikkm · 11 replies
    IWB ^ | Gabrielle Seunagal
    Once again President Trump proves that he is a man of his word. Earlier today, the leader of the free world announced a wonderful tax plan that will provide tremendous aid to individuals and small businesses alike. The new tax plan consists of the following: lower individual income tax rates, a reduction in business rates, one time tax on overseas profits, a new territorial tax system, tax break for child care costs, and the repeal of the Alternative Minimum Tax. The President’s new tax plan is in great alignment with his written proposals on tax reforms in his 2015 book...
  • TRUMP’S PROPOSED TAX PLAN COULD COST THE GOVERNMENT $6 TRILLION

    04/26/2017 3:45:53 PM PDT · by lowbridge · 85 replies
    Newsweek ^ | April 26, 2017 | Graham Lanktree
    President Donald Trump will outline major tax cuts for Americans Wednesday that could take trillions of dollars away from the federal government over the next decade and lump it on to the national debt. The president will be "pretty broad in the principles" of tax reform that he lays out with more details coming in the summer, his director of legislative affairs, Marc Short, told the Associated Press. But what it boils down to is major hikes in the amount people can deduct from their taxes and large cuts for small businesses and corporations.
  • The Trump Tax Plan

    04/26/2017 2:03:54 PM PDT · by smashtheleft · 28 replies
    Insurgent Tribe ^ | 4/26/17 | Keith Nobles
    Trump has released his tax reform plan and there is much interesting about it; let us focus on one small portion that will get the most headlines – reducing the corporate tax rate from 39% to 15%. The United States has the third highest corporate tax rate in the world at 39% – even China’s corporate tax rate is only 25%. Yes, we tax corporations at a higher rate than the commies! The caveat that is that no one pays the 39%. There are deductions – and deductions are the threat to this tax plan passing congress. While the corporate...
  • Trump Is Said to Abandon Contentious Border Tax on Imports

    04/25/2017 3:41:07 PM PDT · by Theoria · 36 replies
    The New York Times ^ | 25 April 2017 | KATE KELLY, RACHEL ABRAMS and ALAN RAPPEPORT
    The Trump administration has dropped any support for a so-called border adjustment tax on imports, according to two people who have been briefed on the matter. The tax was intended to be the keystone of a tax reform proposal developed by Republican leaders in the House of Representatives. But it faced immense pushback from influential companies including Walmart and Toyota. If enacted, a border adjustment tax would have effectively imposed significant levies on billions of dollars of imported goods. Retailers in particular would have been hard hit, as products ranging from tires to T-shirts, which are imported from overseas, would...
  • A Bull Market with Momentum Starts this Wednesday?

    04/22/2017 7:14:35 PM PDT · by ShivaFan · 13 replies
    opinion | 04-22-2017 | ShivaFan
    President Trump told The Associated Press on Friday that he intends to release a tax reform plan next week that includes a "massive tax cut" for businesses and individuals. This is what I have been waiting for and have been building my portfolio since December on this hope. I was very concerned when the "Freedom" Caucus damaged the momentum by not accepting reality and being hardliners who could not wait to stage in the required changes needed in the name of what Americans have their hopes in - jobs and the economy. My position is the DOW already "priced in"...
  • (CT)State lawmakers propose sales, income tax increases

    04/21/2017 6:51:43 PM PDT · by matt04 · 27 replies
    Taxes could soon be on the rise if a new house bill passes. House bill 7322 seeks to increase the sales tax up to 6.99 percent from its current rate of 6.35 percent and increase the income tax for some state residents. Other aspects of the bill would help towns generate more money by increasing state owned property payments. Properties like colleges and hospitals owned by the state would see an increase of their payments to their towns by roughly 23 percent. If the bill passes, regional governments would be responsible for creating plans to help pay for that. Another...
  • POLL: Should President Trump release his tax records?

    04/16/2017 8:50:22 AM PDT · by Jeff Chandler · 87 replies
    Headline of the Day Poll Should President Trump release his tax records? Yes. The American people deserve to know what is in them. No. They are totally irrelevant.
  • Filing Taxes in Japan and Elsewhere Is a Breeze. Why Not Here?

    04/14/2017 9:45:32 AM PDT · by SeekAndFind · 32 replies
    New York Times ^ | 04/14/2017 | T.R. Reid
    Ah, the blithe joys of springtime in the United States. Azaleas in bloom at the Masters, breezy picnics on balmy afternoons, Easter egg hunts — and the annual ordeal of tax forms, with helpful I.R.S. instructions like this: “Go to Part IV of Schedule I to figure line 52 if the estate or trust has qualified dividends or has a gain on lines 18a and 19 of column (2) of Schedule D (Form 1041) (as refigured for the AMT, if necessary).” Americans will spend more than six billion hours this year gathering records and filling out forms, just to pay...
  • Trump Scraps His "Phenomenal" Tax Plan, Goes Back To Drawing Board

    04/10/2017 12:47:43 PM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 04/10/2017
    Remember when Trump promised in early February that he would unveil a "phenomenal" tax plan within two to three weeks? Well, it was just scrapped, because as AP reports, Trump has scrapped the tax plan he campaigned on and is going back to the drawing board, hoping to find a plan that will have Republican consensus, something his current proposal has failed to achieve. In doing so, the president threatens the timetable of what many had seen as the primary driver behind his entire first year agenda, which is not in peril, and may not come until early 2018...
  • Republican lawmakers to file bill calling for FATCA repeal

    04/08/2017 5:01:22 AM PDT · by vannrox · 32 replies
    Expat Blog ^ | 6APR17 | iExpats
    Two republican lawmakers are about to present a bill calling for the unpopular FATCA tax reporting law’s repeal. USA lawmakers have scheduled a first hearing on April 26 for a bill requesting the repeal of the controversial and much-disliked FATCA legislation. Republican anti-FATCA campaigners Senator Rand Paul and Representative Mark Meadows are determined to end the chaos caused to USA expats and overseas financial institutions since the unpopular legislation was introduced. Should the house vote for repeal, the FATCA legislation underpinning the Internal Revenue Service’s links with foreign governments will be a thing of the past. In a letter to...
  • Here’s how much Gov. Jerry Brown wants to raise the gas tax to fix crumbling roads (GAG!)

    03/30/2017 11:11:51 AM PDT · by AngelesCrestHighway · 51 replies
    AP ^ | 03/29/2017 | AP Staff
    California’s governor and legislative leaders on Wednesday proposed raising $52 billion to fix the state’s roads through a big gasoline tax increase, higher car registration fees and a charge on emission-free vehicles. The 10-year plan would boost gasoline excise taxes for the first time in more than two decades, raising them 12 cents per gallon — a 43 percent increase. The tax would rise automatically with inflation. For the first time, owners of zero emission vehicles would pay a $100 annual fee because they use public roads but don’t pay gasoline taxes that fund highway maintenance. The plan also includes...
  • Florida House pitches nearly $300 million in tax cuts

    03/30/2017 1:05:30 PM PDT · by ChicagoConservative27 · 16 replies
    TALLAHASSEE — A wide-ranging $296.8 million tax cut package from the House would eliminate sales taxes on diapers and feminine hygiene products, offer tax "holidays" for purchasing school and hurricane supplies, and trim a commercial lease tax. The package, introduced Wednesday by the House Ways & Means Committee, is smaller than a collection of tax cuts proposed by Gov. Rick Scott. The fate of the proposals will depend on upcoming budget negotiations between the House and Senate. Ways & Means Chairman Jim Boyd, R-Bradenton, said the House package would provide multi-year relief that could potentially reach $949 million and grow...
  • Get ready to pay more at the pump; California's gas taxes could see 43 percent hike

    03/30/2017 8:38:58 AM PDT · by LibWhacker · 47 replies
    California’s governor and legislative leaders on Wednesday proposed raising $52 billion to fix the state’s roads through a big gasoline tax increase, higher car registration fees and a charge on emission-free vehicles. The 10-year plan would boost gasoline excise taxes for the first time in more than two decades, raising them 12 cents per gallon — a 43 percent increase. The tax would rise automatically with inflation. For the first time, owners of zero emission vehicles would pay a $100 annual fee because they use public roads but don’t pay gasoline taxes that fund highway maintenance. The plan also includes...
  • Socialist Health Care Disguised as Tax

    03/27/2017 7:18:42 AM PDT · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 03/27/17 | Dr. Ileana Johnson Paugh
    We can make suggestions until Doomsday, Obamascare is here to stay It appears that Obamacare is here to stay. Those doctors who grew up with the conditioning notion of utopian “social justice” love it. Those doctors who hate the government intrusion and regulation into their medical practice hate it. The American public is split as well along those lines. Nobody really believed that Obamacare, deplorably named the Affordable Care Act, would be amended to benefit the wishes of the American people, much less repeal it. Once a bureaucracy has been ensconced and billions and billions of dollars have been spent...
  • Paul Ryan: Failure of Obamacare Replacement Makes Tax Reform Harder

    03/25/2017 8:46:50 AM PDT · by davikkm · 76 replies
    breitbart ^ | JOHN CARNEY
    The White House tried very hard Friday to send a clear message that the success of President Donald Trump’s tax and infrastructure agenda does not turn on the fate of the Obamacare replacement bill. House Speaker Paul Ryan, only minutes after pulling his health care bill, appeared to at least partially contradict that. “Yes. This does make tax reform more difficult,” Ryan said. “But it does not in any way make it impossible.” Even though Ryan went on to say the House would “proceed with tax reform,” he appeared to be far less optimistic than the two top Trump administration...
  • IRS Still Hasn’t Changed The Policy It Used To Justify Targeting Tea Party, Conservative Groups

    03/23/2017 11:23:09 AM PDT · by george76 · 12 replies
    The Daily Caller News ^ | 03/22/2017 | Ethan Barton
    An obscure bureaucratic policy that allowed IRS officials to target conservative and Tea Party tax exemption applicants during the 2010 and 2012 election campaigns is still in place, meaning the same abuses may be continuing, according to a nonprofit government watchdog. The federal tax agency’s policy requires IRS officials to stop processing tax-exempt applications that are “likely to attract media or congressional attention,” the Cause of Action Institute said in a report made public Wednesday. The policy also directs IRS officials to prepare “sensitive case reports” for their supervisors and to ignore “the merits of the application” if it involved...