Keyword: tax

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  • "US Voters Are Stupid", That's How Obamacare Was Passed

    12/17/2014 4:26:34 PM PST · by Enza Ferreri · 12 replies
    Enza Ferreri Blog ^ | 17 December 2014 | Enza Ferreri
    Jonathan Gruber is the Massachusetts Institute of Technology (MIT) health economist who was one of the architects of the Affordable Care Act (better known as Obamacare) in America, modelled on the UK's NHS. Not once, but twice he has been caught on tape saying that the "stupidity of the American voter" made a certain amount of duplicity necessary to the passage of Obamacare. The first time was during the panel sessions at the 2013 Annual Health Economics Conference, the video of which you can see by clicking on the "Enza Ferreri Blog" link above. (The relevant remarks are at 20:25.)...
  • Ahh, just what I had thought. ObamaCare is just a tax sham...

    12/16/2014 2:11:03 PM PST · by nesnah · 16 replies
    Finally. James O'Keefe interviews the gentleman that exposed Gruber and happens upon the true reason for ObamaCare. I've been thinking this for over a year. ObamaCare is nothing more than turning back the the provision of healthcare coverage paid for by employers that was brought about by FDR's wage & price controls implemented in the 1940s. http://en.wikipedia.org/wiki/Stabilization_Act_of_1942 There you have it. It's just about the money coming out of your pocket.
  • Alaska faces $3.5B deficit amid lower oil prices

    12/11/2014 6:07:51 AM PST · by thackney · 20 replies
    Slumping oil prices have helped push Alaska’s potential budget deficit this year to $3.5 billion — an increase of $2.1 billion from what lawmakers expected in April. The price of oil, forecast at $105 a barrel in the state’s spring revenue forecast, is now expected to average about $76 a barrel for the fiscal year that ends June 30. The price is forecast to dip even lower, to $66 a barrel, during fiscal 2016 before rebounding. The average price last fiscal year was $107 a barrel, according to the fall revenue forecast released Wednesday. The forecast expects unrestricted general fund...
  • The ObamaCare Tax Hidden in Plain Sight

    12/09/2014 5:02:04 AM PST · by SeekAndFind · 11 replies
    IBD ^ | 12/09/2014 | JOHN MERLINE
    ObamaCare's individual mandate penalties were supposed to encourage people to buy insurance. But it turns out that the penalties amount to a regressive tax that hits lower-income families the hardest. That's the conclusion of the Minnesota-based Citizen's Council for Health Freedom (CCHF), which found that low-income couples who don't buy an ObamaCare plan will end up paying a far greater share of their income in penalties than those making twice as much. In 2016, the penalty will be either $325 per adult plus $162.50 per child, or 2% of any income above the tax-filing threshold, whichever is greater. So a...
  • GOP Leaders: Gas Tax Hike Could Fuel Fixes To Bad Roads And Bridges

    12/08/2014 5:13:11 PM PST · by Theoria · 64 replies
    NPR ^ | 08 Dec 2014 | David Schaper
    Gasoline prices are at their lowest level in four years. The price at the pump in many states is almost a full dollar cheaper than it was last spring. So some politicians think this is a good time to raise gasoline taxes. Several states are tired of waiting for Congress to fix the federal highway trust fund, so they're considering raising gas taxes themselves to address their crumbling roads. Michigan Gov. Rick Snyder is trying to sell that state's legislators — especially those in his own Republican party — on raising the state's motor fuel tax to fund long neglected...
  • A national soda tax is needed to reduce obesity and save lives

    12/08/2014 4:00:43 PM PST · by PROCON · 103 replies
    Now that calorie counts on restaurant menus are a done deal, it's time to take the next step toward slimming America's flabby waistline.. A national soda tax. I know, I know: This is the kind of nanny-state talk that causes seizures among conservatives and libertarians. It's an intrusion on personal freedom, a trampling of consumer choice, blah-blah-blah. It's also, as we've learned from taxes on cigarettes and alcohol, a highly effective method of influencing behavior that carries high social costs.
  • Fuel is cheaper—so let's hike gas tax: Former governor

    12/08/2014 7:34:24 AM PST · by BenLurkin · 40 replies
    cnbc ^ | Katie Kramer
    Gas prices, on average, are about 50 cents less a gallon than a year ago, giving a de facto tax cut and providing relief to millions of consumers as the holiday season kicks into high gear. However, a growing number of politicians have suggested that, given cheaper fuel costs, conditions might be ripe to hike federal taxes on gas in order to help fund infrastructure projects. Rendell is one of those voices. He supports raising the federal gas tax—
  • Tracking Miles As Gas Tax Alternative Raises Fairness, Privacy Concerns Los Angeles

    12/06/2014 5:31:30 PM PST · by Steelfish · 59 replies
    LATimes ^ | December 06, 2013 | DAN WEIKEL
    Tracking Miles As Gas Tax Alternative Raises Fairness, Privacy Concerns Los Angeles California officials are testing the idea of a mileage fee to replace the state tax of 36 cents per gallon of gas. By DAN WEIKEL Among those who would be hardest hit by a mileage fee are owners of hybrids and electric cars Standing at a Chevron station in Long Beach, Teresa Gutierrez wished she was pumping fuel into a gas-sipping hybrid instead of her hulking GMC Yukon. She was nevertheless cool to the idea that the state might start raising money for highway repairs by replacing the...
  • From Killing the Rich to Taxing The Rich

    12/06/2014 5:28:53 PM PST · by Enza Ferreri · 1 replies
    Enza Ferreri Blog ^ | 7 December 2014 | Enza Ferreri
    [T]he suppression of the minority of exploiters, by the majority of the wage slaves of yesterday, is a matter comparatively so easy, simple, and natural that it will cost far less bloodshed… and will cost mankind far less. Lenin wrote this in The State and Revolution . In the end, 66 million people were killed in the USSR between 1917 and 1959: tortured, shot, starved, frozen or worked to death. This figure was calculated by Professor of Statistics I. A. Kurganov and quoted by Alexander Solzhenitsyn in The Gulag Archipelago . Others say that the figure is 45 million,...
  • Federal Legislation to Ban Local Cigarette Taxes (VANITY)

    12/05/2014 6:26:38 AM PST · by TigerClaws · 18 replies
    The Eric Garner Law. Ban cities from all of these absurd local taxes and creating the incentives that led to the arrest of a guy for selling loosies. Republicans can get behind it because it shows the overreach of tax laws and Democrats won't dare oppose it. All of these major cities are Democrat-run liberal bastions. What say you?
  • New York Cigarette Taxes Killed Eric Garner

    12/04/2014 12:21:02 PM PST · by servo1969 · 20 replies
    rushlimbaugh.com ^ | 12-4-2014 | Rush Limbaugh
    RUSH: It just keeps happening. We go from the Michael Brown case to the Eric Garner case in New York, and once again it becomes necessary to sort through all of the disinformation that's out there and try to make sense of it. At the end of the process here, once again, we have a grand jury decision, which, in many sectors of the culture and society, is unacceptable and is thought to have been rigged and is thought to have been unfair. So the president of the United States has said that we are not gonna let up, he...
  • The gas tax has been fixed at 18 cents for two decades. Now would be a great time to raise it

    12/04/2014 6:59:46 AM PST · by C19fan · 45 replies
    Washington Post ^ | December 3, 2014 | Chris Mooney
    Nationally averaged gas prices ticked down a little lower today -- yet again -- to $2.75 per gallon. They're now more than 50 cents lower than they were a year ago. So no wonder, at a time like this, the murmur is growing: Maybe Congress ought to think about raising the national gasoline tax. It was last raised, in the year 1993, to 18.4 cents per gallon. That's over 20 years ago, and gas prices at the time were close to the now unimaginable $1.00 per gallon mark. Yet the amount of the gas tax was fixed and not tied...
  • Rand: "No Excuse" For Someone To Die Over A Cigarette Tax

    12/04/2014 6:02:20 AM PST · by Biggirl · 51 replies
    Breitbart.com ^ | December 4, 2014 | Breitbart TV, Ian Hanchett
    Senator Rand Paul (R-KY) reacted to a grand jury's decision to not indict a New York City Police Officer in the death of Eric Garner by saying he was "horrified" by the video and blasting politicians for passing "bad laws" that "put our police in a difficult situation" in an interview broadcast on Wednesday's "Hardball" on MSNBC.
  • California's Cap & Trade .. And the so-called "Hidden Gas Tax"

    11/24/2014 8:36:41 PM PST · by cakid1 · 16 replies
    CBS47 ^ | 11-24-14 | cakid1
    Starting on January 1st some claim California drivers will start paying a new "Hidden Gas Tax." How much will you pay? We have a two part Special Report on Eyewitness News coming up tomorrow - Tuesday November 25th at Six and Eleven. When the story airs I'll send a link to Free Republic.
  • Obama Nominee, Antonio "Tax Inversion" Weiss Discloses Up To $203 Million In Assets

    11/20/2014 10:40:25 PM PST · by Nachum · 5 replies
    zero hedge ^ | 11/20/14 | Tyler Durden
    It appears Lazard's investment banker Antonio Weiss' "help" in tax inversions is not 'unpatriotic' enough to scare President Obama off - as we suspect Weiss' bundling and donating help more than offset any ethical challenges. However, in a somewhat eye-opening financial disclosure, Bloomberg reports that Obama's nominee for undersecretary of Treasury for domestic finance, has between $54 million and $203 million in assets spread across various family trusts and his anticipated compensation in 2014 is between $5 million and $25 million. It's good to know the 'people' are well-represented once again in Washington...
  • Maryland County To Churches: Preach Environmentalism And Get A Tax Break

    11/19/2014 11:01:47 AM PST · by C19fan · 36 replies
    Daily Caller ^ | November 19, 2014 | Derek Hunter
    Maryland Gov. Martin O’Malley made national news last year when he fought to pass and signed a tax bill that levied a tax on Marylanders, businesses and churches for the amount of “impervious surface” they have on their property. Roofs, driveways, sidewalks, and parking lots qualify for the “rainwater remediation fee” to “protect the Chesapeake Bay.” Though the O’Malley administration calls it a “fee,” it is commonly called the “rain tax” throughout the state. It is wildly unpopular and the promise to fight to repeal the tax was a large factor in Maryland electing Republican Larry Hogan governor this month....
  • Another rude Obamacare surprise awaits [Your TAX, uh, FINE, uh, TAX!]

    11/18/2014 10:56:30 AM PST · by Red Badger · 28 replies
    Yahoo Finance ^ | November 17, 2014 1:20 PM | By Rick Newman
    Taxes are bad enough when you know they’re coming—and much worse when they arrive unexpectedly. As the Affordable Care Act enters its second year of operability, a key and controversial element of the plan will begin to affect several million Americans for the first time. People who didn’t have health insurance during 2014 may soon have to pay a penalty fee that starts at $95 and goes up based on how much you earn. Some Americans know about the penalty, and they’ve budgeted for it or at least accepted its inevitability. But several million others could be in for a...
  • FCC official warns Obama-backed net neutrality plan would bring 'immediate' Internet tax

    11/17/2014 2:16:02 PM PST · by Oldeconomybuyer · 16 replies
    FOX News ^ | November 17, 2014
    Internet users would be forced to pay a new federal tax on their monthly bills if the government approves regulations recently endorsed by President Obama, a member of the Federal Communications Commission predicts. Commissioner Mike O'Reilly addressed what's known as "net neutrality" at a Washington seminar on Friday. That law requires telecommunications companies to pay into the FCC’s “Universal Service Fund” -- and would likely require the same of Internet companies. But O'Reilly says history clearly shows that the fees would quickly be “passed off” to customers, just like they are now on monthly phone bills. “Consumers of these services...
  • Food for Thought: Sugar tax could bite into your sweet tooth

    11/17/2014 9:50:50 AM PST · by John David Powell · 18 replies
    CW39 ^ | 11/10/14
    HOUSTON, Texas – If you guzzle a lot of soft drinks, you know, carbonated colas, well, you could be paying a little more for all that sugar. And when you do, you can thank the gentle woman from Connecticut, Rosa Delauro. Rep. Delauro (D-CT) is responsible for the “Sugar Sweetened Beverages Tax Act” or just the “Sweet Act” if you prefer the lite version. She wants congress to put an extra tax on drinks that contain sugar or any other sweetener with calories. It would be just a penny per teaspoon, but that could end up adding about 15 cents...
  • Your “Children Will Be Fined” If You Fail To Sign Up For Obamacare

    11/16/2014 2:29:40 PM PST · by Whenifhow · 56 replies
    http://www.shtfplan.com ^ | Nov 14, 2014 | Mac Slavo
    Free and affordable health care just gets better and better. In 2015 the government will be activating some new “incentives” embedded in the Affordable Care Act in an effort to get more people to sign up. But, as is often the case when the government says one thing, they mean exactly the opposite. In this case, when they say incentive what they really mean is that you are going to be penalized if you fail to acquire government mandated health insurance. But not just you. Your children, who apparently no longer belong to you anyway based on a recent court...
  • Time to buy that new TV online: Boehner kills Internet sales tax bill..

    11/11/2014 11:38:14 AM PST · by CivilWarBrewing · 103 replies
    Daily Mail (UK) ^ | November 11, 2014 | David Martosko, US Political Editor for MailOnline
    House speaker isn't going to bring up a Senate-passed 'fairness' bill during the lame-duck congressional sessionLegislation would allow states to collect sales taxes from their residents' online purchases, no matter where the e-tailer is locatedBrick-and-mortar stores and their trade groups want a mandate because they all have to collect sales taxes from walk-in customersRepublicans worry that all online stores, including small businesses, will find themselves having to deal with paperwork for nearly every US state House Speaker John Boehner has stuck an Internet sales tax proposal in a drawer and he doesn't intend to dust it off before the...
  • ObamaCare architect - lack of transparency helped law pass; 'stupidity of the American voter'

    11/11/2014 8:18:05 AM PST · by Patriot777 · 29 replies
    The Daily Caller, Fox News.com ^ | November 11, 2014 | Patrick Howley
    ObamaCare architect Jonathan Gruber said that lack of transparency was a major part of getting ObamaCare passed, and that it was written in such a way as to take advantage of "the stupidity of the American voter." Gruber, the MIT professor who served as a technical consultant to the Obama administration during ObamaCare’s design, also made clear during a panel quietly captured on video that the individual mandate, which was only upheld by the Supreme Court because it was a tax, was not actually a tax.“This bill was written in a tortured way to make sure CBO did not score...
  • Buckle up for an Oregon driving-tax blowout: Editorial

    11/08/2014 3:55:13 PM PST · by Twotone · 13 replies
    Oregon Live ^ | Nov. 6, 2014 | Editorial Board
    For Oregonians who care about the cost of driving, the most significant development Tuesday might prove to be the upset of incumbent Republican state Sen. Betsy Close by Democrat Sara Gelser in District 8, which covers parts of Albany and Corvallis. Even before the Senate seat switcheroo, lawmakers were likely to consider a road-funding package during the 2015 session. Now, Oregonians may have to swallow two pieces of legislation that will raise the cost of commuting, shopping and everything else people do with their cars.
  • Voters in Berkeley overwhelmingly pass nation's first 'sugar tax' raising the price of sodas

    11/05/2014 10:48:03 AM PST · by C19fan · 24 replies
    UK Daily Mail ^ | November 5, 2014 | Michael Zennie
    Berkeley, California, one of the most liberal cities in the nation, have overwhelmingly approved the nation's first 'sugar tax,' which will raise the cost of sodas and energy drinks by one penny per ounce. A similar tax in neighboring San Francisco, which would have levied two cents per ounce, failed to pass - gaining 55percent of the vote, short of the two-thirds majority needed. The Berkeley tax would raise the cost of a can of Pepsi from $1 to $1.12, but bigger fountain drinks would get hit harder. A large Coke from McDonald's would go from $2.29 to $2.61. A...
  • Sugary drink tax measure fails (San Francisco)

    11/05/2014 12:22:11 AM PST · by Bettyprob · 15 replies
    The San Francisco Examiner ^ | 11-05-2014 | Joshua Sabatini
    Proposition E, a 2 cent per ounce tax on the purchase of sugary beverages that was heavily opposed by the American Beverage Association, was defeated at the polls Tuesday when fewer than two-thirds of voters supported the proposal. The tax was proposed to combat health-related illnesses like obesity and diabetes. It drew the support of the majority of the Board of Supervisors, which voted to place it on the ballot, and a number of health organizations, such as the American Heart Association and the California Dental Association. The American Beverage Association, which represents the large soda companies, had raised $7.7...
  • Congress Reaches Debt-To-Tax Ratio Unseen Since WWII

    11/03/2014 7:13:54 AM PST · by SeekAndFind · 12 replies
    RCM ^ | 11/03/2014 | J.T. Young
    For Ben Franklin, death and taxes were certain; for Washington, debt and taxes are. Succinctly, Washington has reached a debt-to-tax ratio unseen since WWII. The fundamental difference in composition and trajectory make this a far greater concern today than it was 60 years ago. Often a different perspective is needed to truly understand what directly confronts us. This is true with the federal budget. Too often reduced to a dry fiscal discussion, or elevated to a hyper-partisan one, its true essence - and enormity - is lost. To understand its real importance, we must reduce it to its essentials. A...
  • Hungary Waters Down Planned Tax on Internet Use

    10/27/2014 10:06:18 PM PDT · by ConservativeStatement · 3 replies
    Wall Street Journal ^ | October 27, 2014 | Margit Feher
    BUDAPEST—Hungary’s government said Monday it will soften its stance on a proposed tax on Internet access after tens of thousands protested the plan that initially saw a steep levy on every gigabyte of online traffic. After protests in Budapest and other cities in Hungary over the weekend, the administration of Prime Minister Viktor Orban said it filed a new version of its tax proposal, capping the tax at 700 forints ($2.87) a month for each individual subscriber and 5,000 forints for businesses. Internet service providers rather than subscribers are to pay the tax, according to the bill.
  • Petty Government Hacks In Norcross, GA Shake Down Their Screw-Up Victim For $300

    10/22/2014 7:35:16 AM PDT · by Timber Rattler · 13 replies
    NewsRadio106.7 ^ | October 22, 2014 | Michael Graham
    Remember the woman who had her home sold out from underneath her by the inept hacks of Norcross, GA city government? The ones who received tax payments from her for three years, then seized her home without notice and sold it (also without notice) because they claimed they didn't know how to contact her. At her HOME. Where she LIVED? Yesterday city officials denied knowing anything about anything and suggested that, since the home had a new legal owner, there might not be anything they could do...except keep the money from the sale and throw this family out on the...
  • Tennesseans to vote on banning income taxes

    10/15/2014 12:32:04 PM PDT · by Bettyprob · 10 replies
    The Washington Examiner ^ | 10/15/2014 | Sean Higgins
    Most voters in Tennessee pay no income or payroll taxes. Next month, they will decide whether they want that to remain that way. A state ballot referendum, Amendment 3, would write prohibitions of both income and payroll taxes into the state constitution, pushed by anti-tax advocates who are worried about previous government efforts to add an income tax. For the foreseeable future, there is little chance of either tax being added in the Volunteer State. The Republicans control both the statehouse and the governor's mansion, and no one expects them to endorse either levy. Nevertheless, anti-tax advocates are concerned that...
  • Nevada Residents to Decide Fate of Mining Tax

    10/15/2014 10:35:42 AM PDT · by JimSEA · 6 replies
    mining.com ^ | 10/12/2014 | Andrew Topf
    The Nevada gold-mining industry is keeping its ear carefully tuned to what residents think of the state's mining tax. In November Nevada residents will be asked to vote on whether to remove a mining-tax cap from the Nevada constitution, which stipulates that the mining industry will pay no more than 5 percent tax on the net proceeds of minerals. If voters reject the 5 percent provision, the state legislature could impose whatever tax rate it pleases.
  • Why the Rubio-Lee tax plan is great politics — and great policy

    10/03/2014 3:26:55 PM PDT · by SeekAndFind · 37 replies
    The Week ^ | 10/03/2014 | By Pascal-Emmanuel Gobry
    The Republican Party has become the party of ideas again. You can see it in the new tax reform plan put out by Tea Party Sens. Mike Lee (Utah) and Marco Rubio (Fla.). Their plan would simplify the income tax system, setting just two rates: 15 percent and 35 percent. More importantly, it would add a $2,500 child tax credit, refundable against both income and payroll taxes, to the existing $1,000 child tax credit. This means that even families that don't pay income taxes, but do pay payroll taxes (i.e. families who work), would benefit from the tax credit. The...
  • Caveat, investor: Now feds want a bite of your mutual fund

    10/02/2014 5:59:33 PM PDT · by TurboZamboni · 16 replies
    The Citizen ^ | 9-4-14 | Paul S. Atkins
    To oversee this process, Dodd-Frank created the Financial Stability Oversight Council (FSOC), made up of the heads of the financial services regulatory agencies. The council claims very broad power to designate certain activities (like asset management) or companies and products (including mutual funds) as systemically important and subject them to Federal Reserve bank-style regulation, including leverage and capital requirements. And the council is doing just that – first with banks, then insurance companies and now, potentially, mutual funds. President Obama’s “independent” insurance expert on the council issued a blistering dissent when it designated Prudential – the nation’s second-largest life insurer...
  • Court: Obama Admin Can’t Hide Investigation into Former White House Adviser Austan Goolsbee

    09/30/2014 5:21:25 PM PDT · by Nachum · 23 replies
    Free Beacon ^ | Sep. 30, 2014 | CJ Ciaramella
    The Obama administration must acknowledge the existence of an independent investigation into former White House senior economics adviser Austan Goolsbee’s alleged unauthorized access to the Koch brother’s tax returns, a court ruled Tuesday. A federal judge ruled the Treasury Inspector General for Tax Administration (TIGTA) must disclose to watchdog group Cause of Action whether records of an investigation exist. Cause of Action filed a Freedom of Information Act (FOIA) lawsuit after TIGTA refused to confirm or deny the existence of the investigation in what is commonly known as a “Glomar response.” “The court has ruled that the federal government cannot...
  • Amazon to collect Minnesota sales tax starting Oct. 1

    09/23/2014 2:13:50 PM PDT · by TurboZamboni · 12 replies
    MPLS Star & Sickle ^ | 9-23-14 | KAVITA KUMAR
    Amazon.com Inc. will begin collecting sales taxes from Minnesota customers next week, ending a cost advantage it’s enjoyed over brick-and-mortar retailers in the state. The news also triggered a mystery. Online-only retailers don’t need to charge sales tax in Minnesota unless they have physical presence or affiliated business here. Monday’s revelation led to speculation that Amazon may open a warehouse, data center or some other operation in the state or buy an existing firm. The company was vague about what prompted the change, though it said it “will be required” to do so starting Oct. 1. “We’re considering various opportunities...
  • A gasoline tax map that explains a lot

    09/23/2014 3:39:32 AM PDT · by WhiskeyX · 60 replies
    Exxon Mobil Perspectives ^ | February 7, 2014 | Ken Cohen
    In last week’s post about ExxonMobil’s 2013 earnings, I noted that we earned about 5.5 cents for every gallon of gasoline and other petroleum products we refined, shipped, and sold in the United States. Consider this: The federal and state and local governments collected 40 to 60 cents per gallon in taxes. The American Petroleum Institute just updated their map showing the combined local, state and federal tax rate in each state as of Jan. 1, when new taxes took effect.
  • French farmers torch tax office in Brittany protest

    09/21/2014 12:19:11 PM PDT · by aMorePerfectUnion · 20 replies
    BBC ^ | 20 Sept. 2014 | unknown
    French vegetable farmers protesting against falling living standards have set fire to tax and insurance offices in town of Morlaix, in Brittany. The farmers used tractors and trailers to dump artichokes, cauliflowers and manure in the streets and also smashed windows, police said. Prime Minister Manuel Valls condemned protesters for preventing firefighters from dealing with the blaze. The farmers say they cannot cope with falling prices for their products. A Russian embargo on some Western goods - imposed over the Ukraine crisis - has blocked off one of their main export markets. About 100 farmers first launched an overnight attack...
  • David Cameron Vows More Powers for England After Scotland Vote

    09/19/2014 1:19:59 PM PDT · by george76 · 8 replies
    nbc ^ | September 19th 2014 | Alexander Smith
    Like Scotland, Wales and Northern Ireland have their own regional parliaments... However, England's lack of a similar legislative body has led to a messy situation where Scottish lawmakers can vote on issues that only affect England at the U.K.-wide Westminster parliament ... Just as Scotland will vote separately…on their issues of tax, spending and welfare, so too England, as well as Wales and Northern Ireland, should be able to vote on these issues
  • N. Dakota needs $800 million for housing, schools in wake of oil boom, state GOP says

    09/19/2014 5:39:15 AM PDT · by thackney · 55 replies
    Fuel Fix ^ | September 18, 2014 | Associated Press
    North Dakota Republicans on Wednesday unveiled an $800 million one-time spending plan to address immediate problems tied to the oil boom in the western part of the state.... The proposal includes $475 million to oil-producing counties and cities; $140 million to oil patch hub cities of Williston, Dickinson and Minot; $35 million to county schools affected by oil development; and $150 million for road projects outside of the oil patch.... Ron Ness, president of the North Dakota Petroleum Council, said infrastructure needs and a shortage of workers are the biggest challenges facing North Dakota’s energy sector. The state has more...
  • United States Ranks 32 out of 34 Countries in New Global Tax Index

    09/17/2014 8:32:14 AM PDT · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 09/17/14 | Alan Joel
    Our tax code is byzantine, our businesses are over-taxed, and our economy is continuing to suffer. We can do better. We have done better. We deserve better. The Tax Foundation released its first global stat called the “International Tax Competitiveness Index”. This index aims to measure two criteria, competitiveness and neutrality, by examining “the extent to which a country’s tax system adheres to”, these “two important principles of tax policy”. The index accounted for more than 40 tax positions and policies. In their analysis, two of the most damning reasons for ranking the United States near the very bottom of...
  • US now ranks 32nd in tax burden on business

    09/15/2014 8:50:57 AM PDT · by SeekAndFind · 17 replies
    American Thinker ^ | 09/15/2014 | Rick Moran
    There's "economic patriotism" and then there's just being a smart businessperson.The Tax Foundation has launched a new statistical benchmark that ranks the 34 most industrialized countries in the world according to 40 different tax criteria. The US came in 32nd. Only Spain and Italy finished lower. The low US ranking helps explain why inversions are becoming so popular - something that enrages President Obama and the Democrats who see all that tax money leaving the country for sunnier climes. Wall Street Journal: The Tax Foundation benchmark compares developed economies with large and expensive governments, but the U.S. would do even...
  • The Experiment Halfway Point: How Much Tax Do We Pay?

    09/15/2014 6:04:14 AM PDT · by lifeofgrace · 13 replies
    Charting Course ^ | 9/15/14 | Steve Berman
      It’s halfway through the month, and time to update you on my experiment.  To review, I chose September to capture every penny of tax we pay, and see exactly how much goes to the government.  I am only capturing direct taxes, rather than driving myself into the abyss of insanity by attempting to accrue all the corporate taxes, and second- and third-removed taxes on money we pay. A few notes on lifestyle.  My wife and I have two boys, ages 5 and 3 (about to be 4).  We live pretty modestly.  In fact, other than travel for work or...
  • Hey Dems! How's that 'war on tax inversions' going?

    09/12/2014 7:58:38 AM PDT · by SeekAndFind · 6 replies
    American Thinker ^ | 09/12/2014 | Rick Moran
    It was supposed to be the populist issue that would enrage the middle class and set them with pitchforks against big corporations who were being "economic traitors" by moving their headquarters overseas in order to avoid the high corporate taxes in America.The so-called "inversion" issue would allow the Democrats to ride a wave of popular disgust against Republicans to victory in November. Instead, as Politico points out, the issue is so much of a dud, that the Democrats have quietly de-emphasized much of the white hot rhetoric the president has used to portray corporations as "un-American" who move their operations...
  • Kill the Obama Lunch Tax: Why is the IRS targeting Free Meals?

    09/12/2014 7:31:37 AM PDT · by SeekAndFind · 46 replies
    National Review ^ | 09/12/2014 | Deroy Murdock
    As if its appetite were not insatiable enough already, Obama’s Internal Revenue Service is considering taxing the free lunch. Some companies offer workers mid-day meals on the house. This encourages their employees to stay near work, dine with colleagues, exchange ideas, avoid nosy competitors, and then return to their duties. These voluntary arrangements are among the things that attract people to high-tech companies like Apple, Google, and PayPal. According to the Wall Street Journal, “IRS auditors are now flagging the issue and demanding back taxes from companies amounting to 30 percent of the meals’ fair-market value.” So if an employee...
  • IRS Plans To Tax Free Meals Silicon Valley Companies Dole Out to Employees

    09/06/2014 4:22:15 PM PDT · by SeekAndFind · 59 replies
    International Business Times ^ | 09/06/2014 | Zoe Mintz
    Silicon Valley companies are known to cater to their hard working employees. Free yoga classes, nap rooms and meals are among the perks their workers enjoy. A recent Wall Street Journal report reveals that the Internal Revenue Service could be targeting these fringe benefits, more specifically "employer-provided meals" in the next fiscal year. In the agency’s recently released Priority Guidance Plan for 2014 to 2015, the IRS states that the free meals will now be considered a taxable fringe benefit, the same way a company car or phone is. Rather than taxing employees themselves -- an arduous if not impossible...
  • Abolish the Corporate Tax: It’s dumb, corrupt, onerous, and pointless.

    09/04/2014 7:04:44 AM PDT · by SeekAndFind · 27 replies
    National Review ^ | 09/04/2014 | Kevin D. Williamson
    The nominal corporate-income-tax rate in the United States is 35 percent, the highest in the developed world. That’s the on-paper rate. The effective corporate-income-tax rate — i.e., the actual rate — is . . . a matter of some dispute, but Martin A. Sullivan, a highly regarded economist specializing in taxation, puts it around 28 percent. Others have estimated the rate to be much lower: A Government Accountability (ha!) Office study put the figure at about 13 percent. Let’s put it at 0.00 percent. In reality, the effective corporate tax rate varies substantially from firm to firm and from industry...
  • The Punitive Economic Cost of Class-Warfare Taxation

    09/02/2014 9:14:14 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | September 2, 2014 | Daniel J. Mitchell
    IÂ’ve already shared a bunch of data and evidence on the importance of low tax rates.A review of the academic evidence by the Tax Foundation found overwhelming support for the notion that lower tax rates are good for growth.An economist from Cornell found lower tax rates boost GDP.Other economists found lower tax rates boost job creation, savings, and output.Even economists at the Paris-based OECD have determined that high tax rates undermine economic performance.And itÂ’s become apparent, with even the New York Times taking notice, that high tax rates drive away high-achieving people.WeÂ’re going to augment this list with some additional...
  • California drivers brace for costly new gas tax

    08/28/2014 6:26:11 PM PDT · by bkopto · 52 replies
    Fox News ^ | 8/27/2014 | William La Jeunesse and Laura Prabucki
    Californians already pay the nation's second highest gas tax at 68 cents a gallon -- and now it will go up again in January to pay for a first-in-the-nation climate change law. ... Estimates of the cost of the tax vary. The California Air Resources Board, the Golden State's premier anti-pollution agency, predicts the new tax will raise gasoline prices from 20 cents to $1.30 per gallon. A prominent state senator who helped author the bill estimated the cost at 40 cents a gallon. Environmental activists downplay the cost, but hail the impact. "We're going to now tackle probably 40...
  • Mark Udall’s Wife Partners with Leonardo DiCaprio to Call for Carbon Tax

    08/28/2014 6:29:14 AM PDT · by lbryce · 33 replies
    Free Beacon ^ | Auggust 28, 2014 | Elizabeth Harrington
    Democratic incumbent Sen. Mark Udall’s (Colo.) wife called for a carbon tax while appearing in a new anti-oil video produced by Leonardo DiCaprio. “People are ready for conversation,” says Maggie Fox, Udall’s wife and former president of Al Gore’s Climate Reality Project, in the Green World Rising video, entitled, “Carbon.” “They’re ready to understand that carbon pollution is causing this challenge and that there is a simple solution: put a price on carbon pollution,” she says. DiCaprio is releasing a series of environmentalist videos on climate change, the first focusing on gathering support for a cap and trade system. A...
  • The experiment: how much tax do we really pay?

    08/22/2014 5:32:51 AM PDT · by lifeofgrace · 44 replies
    Charting Course ^ | 8/22/14 | Steve Berman
    My wife and I decided to do a bit of downsizing this summer.  We went through our budget, line by line, and set up new limits for what we spend.  I am blessed with a good job, and we are not really hurting to make ends meet.  But we noticed that our spending started to spiral up, up and away.  Really, we have better things to do with our hard earned money than throw it away on stuff that doesn’t matter. It took us several years to get from the financial Thelma and Louise I was when we were first...
  • Repeal fails, tax reform upheld {Alaska Oil Tax}

    08/21/2014 2:00:33 PM PDT · by thackney · 13 replies
    Alaska Journal of Commerce ^ | 2014.08.21 | TIM BRADNER
    A referendum to roll back an oil production tax change made in 2013 was defeated by voters in the state’s primary election held Aug. 19. Ballot Measure 1, which would have reinstated the state’s previous tax known as ACES that was repealed in 2013, was voted down 52 percent to 48 percent, or a margin of about 6,800 votes, the Division of Elections reported in late results with 98.6 percent of the votes counted. Earlier in the evening of Aug. 19 the “yes” votes had a thin majority of a few hundred for repeal with about 25 percent of the...