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Keyword: tax

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  • Socialist NYC Mayor Bill De Blasio is Really Good at Tax Avoidance

    04/17/2014 8:51:04 AM PDT · by SeekAndFind · 10 replies
    Townhall ^ | 04/17/2014 | Mike Schauss
    Suffering from a clear lack of intellectual honesty, the morally bankrupt progressive socialist mayor of New York City seems to have a knack for tax avoidance. (And remember: despite what Harry Reid would have you believe, tax avoidance is not a crime.) According to public records, Bill “punish the rich” de Blasio paid a mere 8 percent of his income in federal taxes. Just to put that in context for any liberal that has accidently stumbled across this paragraph: That’s less than that capitalist pig, Mitt Romney paid in prior years. Of course, to be fair, it is possible...
  • Illinois Term limits and Millionaire Tax Initatives

    04/16/2014 7:53:18 AM PDT · by Siegfried X · 4 replies
    Chicago Tribune ^ | 03/22/2014 | Rick Pearson
    ...The House speaker's plan would ask lawmakers in the Democratic-controlled legislature to submit to voters on Nov. 4 a proposed amendment to the state Constitution that would create a 3 percent income tax surcharge on personal income exceeding $1 million a year. That would be added to the existing personal tax rate, which stands at 5 percent for all taxpayers but is scheduled to drop to 3.75 percent next year... ...Rauner's own populist-tinged ballot initiative, a petition drive to put a constitutional amendment before voters in November to limit legislators to a maximum of eight years in office. In pushing...
  • Republican National Committee Marks Tax Day by Suing IRS

    04/15/2014 11:51:00 AM PDT · by SeekAndFind · 9 replies
    Pajamas Media ^ | 04/15/2014 | Bridget Johnson
    The Republican National Committee marked Tax Day by suing the Internal Revenue Service.The lawsuit charges that the IRS is withholding records sought by the RNC’s May 2013 Freedom of Information Act (FOIA) request, in which the committee sought to review documents and correspondence related to criteria used for reviewing and approving 501(c)(4) tax-exempt organizations.The FOIA request seeks all documents dated between Jan. 1, 2010, and May 20, 2013, containing the words “tea party,” “patriot,” and/or “9/12 project,” referring to the group created by Glenn Beck, along with any documents pertaining to increased scrutiny of 501(c)(4)s, especially using “be on...
  • Abusive civil asset-forfeiture laws: IRS seizure of property without due process should cease

    04/15/2014 5:19:51 AM PDT · by SeekAndFind · 8 replies
    Washington Times ^ | 04/14/2014 | Richard Rahn
    Do you think the Internal Revenue Service and other government agencies should have the right to seize your assets, including your bank accounts, when you have not been convicted of wrongdoing? The fact is, the IRS and other government agencies do this all of the time, and often without even a formal accusation of wrongdoing. Anyone who is awake knows that the IRS has been politicized — and thus critics of the administration live in fear that their property will be taken for the mere act of speaking out against the government. The American Founding Fathers well understood that if...
  • IRS chief set to redraft proposed rule for tax-exempt groups after backlash (Trust them?)

    04/14/2014 7:06:09 PM PDT · by SeekAndFind · 7 replies
    Hotair ^ | 04/14/2014 | Mary Katherine Ham
    First, an entirely and uncharacteristically reasonable reaction from the IRS on its proposed new rules governing 501(c)s, a classification of tax exempt groups that was the area of improper targeting of Tea Party activists. When Democrats realized the best way to deal with personnel abusing tax law was to create more tax law for them to abuse, the IRS went to work on more specific ways to crack down on social welfare groups. Their proposed rule caused backlash from both conservatives and liberal activists: The Internal Revenue Service is prepared to rewrite a proposed rule regulating the political activities of...
  • Obama has Proposed 442 Tax Hikes Since Taking Office

    04/14/2014 1:34:50 PM PDT · by upbeat5 · 9 replies
    CNSNews.com ^ | April 14, 2014 | John Kartch
    Since taking office in 2009, President Barack Obama has formally proposed a total of 442 tax increases, according to an Americans for Tax Reform analysis of Obama administration budgets for fiscal years 2010 through 2015. The 442 total proposed tax increases does not include the 20 tax increases Obama signed into law as part of Obamacare. "History tells us what Obama was able to do. This list reminds us of what Obama wanted to do," said Grover Norquist, president of Americans for Tax Reform. The number of proposed tax increases per year is as follows: 79 tax increases for FY...
  • IRS seizes refunds of taxpayers whose parents owe the government money

    04/13/2014 11:55:27 AM PDT · by SeekAndFind · 51 replies
    American Thinker ^ | 04/12/2014 | Rick Moran
    When are the sins of the father visited upon his children? When the IRS and Social Security Administration say so. Hit and Run: Holding children responsible for the debt incurred by their parents is a feature of historical feudalism and a few modern third-world shitholes. Developed countries, by and large, assume that a debt dies with the person who willingly incurred it, or at least stops with his or her estate. "By and large," I write, because the U.S. government has broken with centuries of tradition holding individuals responsible for their choices, opting to withhold tax refunds from children whose...
  • BREAKING: Committee Votes to Refer Lois Lerner for Possible Criminal Prosecution

    04/09/2014 9:29:24 AM PDT · by Nachum · 72 replies
    cns news ^ | 4/9/14 | Terence P. Jeffrey
    (CNSNews.com) - The House Ways and Means Committee voted 23 to 14 today to refer former IRS official Lois Lerner to Attorney General Eric Holder for possible criminal prosecution. In a contentious open-to-the-public hearing that lasted only few minutes, the House Ways and Means Committee voted this morning to immediately go into a closed session to discuss a letter proposed by the committee’s majority to refer former Internal Revenue Service official Lois Lerner to the Justice Department for possible criminal prosecution. When Ranking Member Sander Levin (D.-Mich.), seeking to make a point of order, repeatedly interrupted Chairman Dave Camp’s (R.-Mich.)...
  • 50% Taxes When Alive, 50% Taxes When You Die: Why New York is the "Must Leave" State

    04/09/2014 7:46:52 AM PDT · by SeekAndFind · 18 replies
    FrontPage Mag ^ | 04/09/2014 | Ronn Torossian
    I, Ronn Torossian, am a born & bred New Yorker, who raises a family here, owns a business – and loves all this city has to offer. Yet, I would be among the first to advise people not to live or move to New York if they don’t have to. If they have ambition or drive, New York isn’t the place to be. From the non-stop energy to the culture, indeed, this city deserves its title as capital of the world. Yet, from a business perspective, there are so many obstacles for living – and dying – in New York...
  • United Nations May Tax and Censor Post-U.S. Internet, Experts Warn

    04/09/2014 4:57:47 AM PDT · by VitacoreVision · 23 replies
    The New American ^ | 09 April 2014 | Alex Newman
    UN May Tax and Censor Post-U.S. Internet, Experts Warn 09 April 2014 Following the Obama administration’s decision to cede control over key elements of the Internet, the UN is already plotting to tax and censor the Web.... Full Articlehttp://www.thenewamerican.com/tech/computers/item/18004-un-may-tax-and-censor-post-u-s-internet-experts-warn
  • New building shows what legislators truly value: Themselves

    04/09/2014 4:44:45 AM PDT · by TurboZamboni · 8 replies
    Pioneer Press ^ | 4-9-14 | Joe Soucheray
    DFLers, who generally frown on grandeur as part of their ideology, are going to build themselves a marvelous new office building. They have been deaf to the idea that it is wasteful and that there are countless ways to accommodate the few of them who are going to be displaced by renovation work on the Capitol. To save a few bucks -- cutting it from $94 million to $77 million -- they claim they are going to eliminate an adjoining parking ramp. But that was to have been principally for the public anyway, and the public has been ignored in...
  • The Dark Road: The Worst Tax Law You've Never Heard About

    04/08/2014 7:32:07 PM PDT · by VitacoreVision · 22 replies
    The New American ^ | 08 April 2014 | Alex Newman
    The Dark Road: The Worst Tax Law You've Never Heard About 08 April 2014 A little-known tax law threatens the privacy, and even lives, of millions of people and the stability of the U.S. economy while laying the foundation for a global tax regime. Foreign Account Tax Compliance Act ( FATCA ) ... Full Article:http://www.thenewamerican.com/world-news/item/17986-the-dark-road-the-worst-tax-law-you-ve-never-heard-about
  • Tax Day

    04/08/2014 9:15:53 AM PDT · by Rational Voter · 3 replies
    Citizen Primer ^ | 04/08/2014 | Citizen Primer
    https://www.youtube.com/watch?v=1hhCs9r33tM&feature=youtu.be
  • Tax Freedom Day’ falls three days later this year

    04/07/2014 8:41:24 PM PDT · by Errant · 6 replies
    The Daily Caller ^ | 7 April 2014 | Caroline May
    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. Tax Freedom Day is later than it was last year,...
  • IRS Confirms Capital Asset Rules, but Are They Realistic for Small Transactions?

    04/01/2014 6:33:18 AM PDT · by Errant · 16 replies
    Coin Desk ^ | 1 April 2014 | Danny Bradbury
    Does the IRS really want to you to track your capital gains on bitcoin every time you buy a sandwich or a sweater in the digital currency? After our analysis of the Internal Revenue Service guidelines on bitcoin, released in March, some people expressed surprise. They were amazed that the IRS could seriously be applying capital gains rules to something that the bitcoin community sees as a currency, and which in many cases uses as such. “This can’t be good for bitcoin”, said one commenter privately to Coindesk. ” If it’s not a currency, then how are you supposed to...
  • L.A. Times Cooks the Books as Obamacare Deadline Hits

    03/31/2014 8:26:09 AM PDT · by ColdOne · 13 replies
    breitbart.com ^ | 3/31/14 | Joel B. Pollak
    The Los Angeles Times greeted the Obamacare enrollment data on Monday with a striking headline, claiming that "at least 9.5 million previously uninsured people have gained coverage," which is 3 million people more than the Obama administration itself claimed last week (a number that was itself highly questionable, since it did not exclude those who had not paid for their new insurance). The Times' analysis, however, is laughable. The data reported by Noam. N. Levey are not actual counts of enrollees, but a hodgepodge of "state and federal enrollment reports, surveys and interviews with insurance executives and government officials nationwide."...
  • Climate change could cost more than $100 billion a year

    03/31/2014 6:21:32 AM PDT · by Oldeconomybuyer · 35 replies
    CNN ^ | March 31, 2014 | By By Ivana Kottasova
    Tackling the effects of climate change could cost governments around the world more than $100 billion a year, a United Nations panel of experts said Monday. A report by the U.N.'s Intergovernmental Panel on Climate Change, says that a temperature rise of 2 degrees Celsius will wipe out up to 2% of the world's income by 2050. "If we get up to 4 degrees temperature rise, which most scientists now expect would happen if we carry on emitting greenhouse gasses as we do, then the cost could be much more severe," Chris Hope, a climate change researcher at Cambridge University...
  • Gas Tax Hike Touted for Transportation Woes

    03/29/2014 12:53:47 PM PDT · by JeepersFreepers · 19 replies
    WOAI News Radio San Antonio ^ | March 21, 2014 | Jim Forsyth
    The Texas Legislature’s point man [Drew Darby] on transportation funding says Texas motorists need to understand that a higher gas tax would be a more 'open and transparent' way of dealing head on with the state's transportation crisis than the 'congestion tax' that motorists are currently paying every day. "I think we need to revert to pay as your go," State Rep. Drew Darby (R-San Angelo) told the San Antonio Mobility Coalition."Nine times members of the Legislature have raised the gasoline tax to pay for our transportation infrastructure, but that hasn't happened since 1991. Lawmakers over the past several years...
  • Time to scrap the mortgage interest deduction: Simplify the Tax Code and Lower Tax Rates for All

    03/28/2014 7:03:46 AM PDT · by SeekAndFind · 129 replies
    Washington Examiner ^ | 03/27/2014 | Philip Klein
    In the coming weeks, Americans will spend an average of 13 hours and $210 to prepare their federal taxes. Beyond the compliance burden the federal tax code imposes, it also distorts economic activity and discriminates against some taxpayers in favor of others. But one of its most egregiously unfair provisions is also among its most popular - the mortgage interest deduction. In theory, the mortgage interest deduction is supposed to encourage home ownership, a questionable goal for government to begin with. The purpose of taxes is to raise money to finance government services, not to manipulate human behavior or economic...
  • What the IRS Bitcoin Tax Guidelines Mean For You

    03/26/2014 6:05:50 AM PDT · by Errant · 33 replies
    Coin Desk ^ | 26 March 2014 | Danny Bradbury
    The US Internal Revenue Service finally announced its guidance for virtual currencies yesterday, explicitly referring to bitcoin (see the announcement here and notice here). The increased clarity – provided three weeks before the end of the US tax year - will come as a relief to many who were scared to get involved in bitcoin, commercially. But what does it mean for different members of the bitcoin community? US businesses wanting to get involved in bitcoin have been waiting for this for a while. As recently as January, US Taxpayer Advocate Nina Olson pressured the IRS in her annual report...
  • Sarah Palin Praises Rush Limbaugh for Defending Matt Drudge Against MSM on ´Obamascare´

    03/24/2014 9:44:20 PM PDT · by Nachum · 52 replies
    Breitbart Big Journalism ^ | 3/24/14 | Tony Lee
    Former Alaska Gov. Sarah Palin praised conservative talk radio icon Rush Limbaugh for fiercely defending new-media pioneer Matt Drudge Monday after the White House and mainstream journalists attacked and mocked Drudge for honestly saying that he had paid a penalty for not signing up for Obamacare in his quarterly tax filing. "From one Dittohead to all you others, aren´t you thankful Rush defends truth, and as importantly, he defends those speaking truth!" Palin wrote on Facebook Monday. "Rush is consistently loyal to the cause of justice, walking the walk as he does here in defense of Drudge calling out Obamascare.
  • 'Liberty Tax': White House, Media Attack After Drudge Pays Obamacare Opt-Out Penalty

    03/21/2014 5:55:34 PM PDT · by FreeAtlanta · 24 replies
    BREITBART.COM ^ | 21 Mar 2014, 5:04 PM PDT | Matthew Boyle
    A White House aide set off a stampede of liberal media criticism for Internet news pioneer Matt Drudge over Obamacare – but his critics don't seem to understand how small businesses pay taxes. The brouhaha started when Drudge tweeted, “Just paid the Obamacare penalty for not 'getting covered'... I'M CALLING IT A LIBERTY TAX.” Jesse Lee, the Director of Progressive Media at Barack Obama's White House, responded that that was a “Flat lie, no fee for previous year,” adding, “Scary how much influence he once had.” Lee’s response to Drudge set off a firestorm in the liberal media, with many...
  • Illinois: How will we fix our budget problems? Let’s tax millionaires!

    03/21/2014 2:12:17 PM PDT · by SeekAndFind · 23 replies
    Hotair ^ | 03/21/2014 | Bruce McQuain
    This worked so well for France that Belgium had a real estate boom with the new tax on millionaires was announced. And New Jersey learned that millionaires have a tendency to leave when confronted with higher taxes. But Illinois? Well, per Michael Madigan, Speaker of the Illinois House of Representatives, Illinois is different: “Well, if they’re in Illinois today, they’re probably so much in love with Illinois that they’re not going to leave,” he said, according to the Tribune–a backhanded acknowledgement of how poorly the state is already doing.Madigan may also be encouraged by California’s example, where millionaires have largely...
  • What U.S. states have the highest and lowest taxes?

    03/20/2014 1:51:31 AM PDT · by afraidfortherepublic · 20 replies
    CBS News Moneywatch ^ | 3-19-14 | Kathy Kristof
    If you hate paying taxes, pay attention to where you live. Residents of the nation's lowest-tax states pay less than one-quarter of the levies contributed by those in the highest-tax states. And that's even when they earn the same amount and spend the same amount on everything from housing to beer, according to an analysis by personal finance site WalletHub. The site looked at 10 different taxes, from property and state and local income taxes to those on vehicles, food, alcohol, fuel, telecommunications and sales. The total tax hit was based on a hypothetical individual earning $65,596, with a $174,600...
  • Tax Reform Should Begin With Eliminating Corporate Taxes

    03/19/2014 7:20:24 AM PDT · by SeekAndFind · 58 replies
    IBD ^ | 03/18/2014 | LAURENCE J. KOTLIKOFF
    My daydream is to lock all members of Congress and the president in a classroom with a big whiteboard and not let them out until they can pass a basic test in public finance. The first thing I'd teach them about is tax incidence — who really bears the burden of a tax. Our politicians seem to think the burden of taxes falls on those who they require to pay, as in remit or transmit or hand over or submit or mail in, the tax. This is entirely off base. Who bears the burden of (is hurt by) a tax...
  • More Warren Buffett Hypocrisy; Restructures Deal To Avoid $400 Million In Taxes

    03/18/2014 8:39:12 AM PDT · by SeekAndFind · 12 replies
    Zero Hedge ^ | 03/18/2014 | Mike Krieger
    Warren Buffett epitomizes everything that is wrong with the global economy, and the U.S. economy specifically. He is the consummate crony capitalist, a brilliant yet conniving oligarch who intentionally plays on the gullibility of the masses to portray himself as one thing, when in reality he is something else entirely.He publicly talks about how rich people need to pay more in taxes, then turns around and pioneers new ways for his company Berkshire Hathaway to avoid hundreds of millions in taxes. He thinks that by going on television stuffing ice cream cones and hamburgers in his mouth and acting all grandfatherly...
  • You Might Pay A Lot More Than $95 For Skipping Health Insurance

    03/12/2014 3:11:03 PM PDT · by SeekAndFind · 22 replies
    NPR ^ | 03/12/2014 | Julie Rovner
    2014 is the first year most Americans will have to either have health insurance or face a tax penalty. But most people who are aware of the penalty think it's pretty small, at least for this first year. And that could turn into an expensive mistake. "I'd say the vast majority of people I've dealt with really believe that the penalty is only $95, if they know about it at all," says Brian Haile, senior vice president for health policy at Jackson Hewitt Tax Service. "And when people find out, they're stunned. It's much, much higher than they would expect."...
  • Hawaii ponders: Time to start taxing insurers for not participating in our ObamaCare exchange

    03/11/2014 1:06:15 PM PDT · by SeekAndFind · 20 replies
    Hotair ^ | 03/11/2014 | Erika Johnsen
    Five months and approaching a coupla’ hundred million dollars in federal grants later, Hawaii still hasn’t made much progress on mending their terrifically botched ObamaCare exchange website, and the clock is ticking. With barely a few weeks to go until the open enrollment period ends (for now — I have very little faith that His Highness won’t issue another royal decree somehow extending that deadline, too), the state government is entering panic mode over their super-low enrollment figures and their definitive lack of a long-term financing plan for the exchange, which needs to be self-sustaining by the start of 2015....
  • For Good Highways, Use Tolls and Ditch the Gasoline Tax

    03/11/2014 8:20:10 AM PDT · by Kaslin · 42 replies
    Townhall.com ^ | March 11, 2014 | Michael Barone
    Last month, Barack Obama traveled to snowy St. Paul, Minn., the same place where in the sunnier days of June 2008 he predicted that his clinching of the Democratic presidential nomination would be remembered as "the moment when the rise of the oceans began to slow and the earth began to heal." This time in St. Paul he addressed a lesser problem, one within the ambit of a president's powers: transportation. He mentioned the most common form of transportation -- auto travel over streets and highways -- only in passing. Instead, he hailed St. Paul's "spiffy new trains," one of...
  • Steve Forbes on the The Tax Code: Make It Flat

    03/10/2014 7:06:10 AM PDT · by SeekAndFind · 14 replies
    Forbes ^ | 03/09/2014 | Steve Forbes
    If Republicans and pro-growth Democrats had their wits about them, they would push the flat tax. The need for a simple flat tax was underscored recently by the comprehensive tax reform plan released by the outgoing chairman of the House Ways & Means Committee, Dave Camp (R–Mich.). The chairman decided to work with the existing tax code and has attempted to change this monster into something that encourages more economic growth. He deserves all the plaudits possible for his heroic effort. THE GOOD, THE BAD … Under Camp’s plan tax rates for individuals and corporations would be reduced; the hideous...
  • The worst U.S. states to die in

    03/05/2014 11:19:05 AM PST · by EveningStar · 24 replies
    Yahoo ^ | March 4, 2014 | Bill Bischoff
    With the current relatively generous federal estate tax exemption of $5.25 million for 2013 and $5.34 million for 2014, you surely don't have any estate tax worries. Right? Not necessarily! It turns out that 19 states and the District of Columbia impose their own estate and/or inheritance taxes, and most of them have exemptions well below the federal amount. If you live in one of these places, your estate might be exempt from the federal estate tax but still exposed to a significant state death tax hit. Yikes! Here's what you need to know.
  • New tax law to stop “cash accounting,” cost farmers big money

    03/04/2014 6:46:53 AM PST · by Sharkfish · 21 replies
    Southeast Farm Press ^ | February 26, 2014 | American Farm Bureau Federation
    Agricultural producers forced to switch from cash-basis to accrual-basis accounting under new laws would have to pay out as much as $4.84 billion in taxes during the next four years. Proposed changes to the tax code restricting the use of cash accounting by agricultural operations would reduce agriculture’s access to capital by as much as $12.1 billion over the next four years, according to Kennedy and Coe, LLC and Farmers for Tax Fairness. The study prepared by the independent research firm, Informa Economics, revealed that U.S. agricultural producers forced to switch from cash-basis to accrual-basis accounting under new laws would...
  • GOP’s “religious liberty” scam just died: Why Brewer’s veto is so momentous

    02/28/2014 6:54:46 AM PST · by C19fan · 29 replies
    Salon ^ | February 27, 2014 | Brian Beutler
    Back in 2012, a full two years before conservatives insisted that religious freedom entailed the right to discriminate against gay people or gay spouses in both private and public workplaces, Republicans in Washington trotted out the same religious liberty line for the arguably narrower purpose of defending religious employers who wanted to be exempt from the Affordable Care Act’s contraception mandate. ........................................................ It would be an infringement upon religious liberty to shutter a church that refused to marry interracial couples. But how many conservatives would go to bat for that church if the government rescinded its tax exemption? Would they...
  • The New Plan To Impose An Extra Tax On Wall Street Hinges One One Big Question

    02/27/2014 10:25:01 AM PST · by SeekAndFind · 2 replies
    Business Insider ^ | 02/27/2014 | Linette Lopez
    Yesterday, Max Baucus (D-MT) and Dave Camp (R-MI) introduced a tax reform bill that would force a new asset tax on big Wall Street banks, and naturally Wall Street isn't having it. The summary of the bill alone is about 200 pages, but for the Street, it all boils down to one simple, nasty debate that's been raging since the financial crisis. Either Wall Street banks are still too big to fail or they're not. And, as a result, either Wall Street banks are getting help from the government in order to survive, or not. The help is the form...
  • Syria jihadists lay down rules for Christians

    02/26/2014 7:05:49 PM PST · by george76 · 22 replies
    AFP ^ | 26 February 2014
    A jihadist group in Syria said Wednesday that Christians in the city of Raqa will have to pay taxes and hold religious rituals behind closed doors, under a set of rules. The Islamic State of Iraq and the Levant (ISIL), listed 12 rules which made up an "agreement" with Christians in the northern city to provide "protection." ... Christians must pay a "jiziyeh" tax, as imposed in early Islam on non-Muslim subjects. ... also demands Christians "do not put on display a cross or anything from their book, anywhere on Muslims' path or markets" and that they should not "use...
  • Consumers Hit With Surprise Tax in Obamacare Premium

    02/26/2014 6:38:55 PM PST · by markomalley · 21 replies
    Fiscal Times ^ | 2/26/2014 | Brianna Ehley
    Obamacare isn't just impacting the uninsured. Americans who already had health coverage before the Affordable Care Act will likely pay more this year and even more in the years to come. Insurance companies, faced with new Obamacare fees and taxes meant to help fund the law, are planning to pass along the added costs to consumers. This includes the multibillion-dollar annual “Insurance Providers Fee,” which took effect in January and is assessed to each company based on its share of annual premiums collected by the entire industry. This new fee is expected to raise $8 billion this year and more...
  • Survey: Medical device tax has cost tens of thousands of jobs

    02/22/2014 10:25:34 AM PST · by SeekAndFind · 11 replies
    American Thinker ^ | 02/22/2014 | Rick Moran
    But it's "only" 2.3%! How can such a tiny tax have such a large negative impact? That's the thinking of the excise tax supporters who think that the medical device industry can "easily afford" the tax (New York Times) and besides, they deserve it because they're "anti-competitive": A new survey says Obamacare's tax on medical device manufacturers has cost the industry about 33,000 jobs.In a report this week, the Advanced Medical Technology Association (AdvaMed) said companies cut about 14,000 workers and decided not to hire about 19,000 workers because of theThe report also said the 2.3 percent excise tax also...
  • Don't Believe the Economists About the 'Low' U.S. Corporate Taxes

    02/18/2014 6:50:10 AM PST · by SeekAndFind · 6 replies
    realclearmarkets.com ^ | 02/18/2014 | William McBride
    Have you ever been caught in the rain on a day the forecast said was supposed to be sunny and wondered, did the weatherman even look outside before issuing his forecast? Is his weather model really that bad? So it is with the government economists who continue to issue sunny reports about the burden of U.S. corporate taxes in the face of glaring evidence to the contrary. The latest of these sunny forecasts comes from the Congressional Budget Office (CBO), which reports that the "average corporate tax rate" was 16 percent last year, up from 13 percent in 2011 and...
  • Mark Levin omitted vital information when explaining the Electoral College

    02/16/2014 6:09:45 PM PST · by JOHN W K · 88 replies
    2/16/2014 | johnwk
    In 2012 Mark Levin took the time to explain the Electoral College to his audience. But in doing so, he omitted a vital piece of information that ties the size of each State’s number of Electoral College votes to taxation, which is no longer enforced and actually encouraged California to elect a socialist/progressive president! CLICK HERE to listen to Mark explain the Electoral College, omitting how taxation is tied to the size of each State’s Electoral College vote, which in turn omits the importance of why our founders tied taxation and representation by the rule of apportionment. Just for...
  • Balancing the annual budget and tax reform ___ Tea Party candidates need to have concrete solutions!

    02/15/2014 2:55:34 PM PST · by JOHN W K · 9 replies
    2-15-14 | johnwk
    Is it not our duty, more than ever, and as Tea Party Activists, to inform the American People about the brilliance of our Founder’s original tax plan and how our Founders intended to extinguish deficits if imposts, duties and excise taxes were found insufficient to meet Congress’ constitutionally authorized expenditures? In 1995 and 1996 Congress held Hearings on “Replacing the Federal Income Tax”. My submissions before the Committee on Ways and Means which were presented under the heading “American Constitutional Research Service” are part of these recorded hearings, and I recently found they are available on line. My two submissions...
  • Taxation and Representation: Why Our Taxation System is Morally Insane

    02/15/2014 10:09:26 AM PST · by SeekAndFind · 7 replies
    National Review ^ | 02/14/2014 | Kevin Williamson
    Tom Perkins is not exactly a sympathetic figure, but the man has a point. Perkins, a gazillionaire venture capitalist and cofounder of Kleiner Perkins Caulfield & Byers, took a well-deserved drubbing for his comparison of anti-“1 percent” invective in the United States with the political conditions leading up to Kristallnacht in Germany. His offense there was both against good taste and substance. He has something useful and true to say about the anti-democratic, illiberal, and periodically violent mood of Western anti-capitalism and the American partisans of class warfare, but none of that is very much like Nazism. Not very many...
  • What is Capital Gains ?

    02/13/2014 4:06:57 AM PST · by knarf · 23 replies
    self | Februry 13, 2014 | knarf
    I recently posted some money I got from a gas well near me ...
  • GOP Rep: Gas tax hike 'resonates' with lawmakers

    02/11/2014 11:05:41 AM PST · by lowbridge · 62 replies
    thehill.com ^ | february 11, 2014 | keith laing
    Rep. Tom Petri (R-Wis.) said on Tuesday that an increase in the 18.4 cents per gallon federal gas tax "resonates" with a lot of members of the House Transportation Committee.  Petri said while speaking at a "Safe Routes To Everywhere" event at the Capitol on Tuesday morning that lawmakers have heard from truck drivers who are volunteering to pay higher taxes on diesel gasoline to help improve the condition of the roads they drive on.  "When we had our initial hearing, the Trucking Association came down and said 'they're not in the business of raising cost for their members or...
  • Senator Cruz: keep income tax, lower top rates

    02/10/2014 3:36:57 AM PST · by JOHN W K · 28 replies
    2/10/14 | johnwk
    SEE: TheBlaze, Feb. 4, 2014 ‘A Pattern of Lawlessness’: Ted Cruz Outlines Why Even Democrats Should Be Concerned About Obama Administration’s Actions "Texas Sen. Ted Cruz (R) said there is a “pattern of lawlessness” underway by the Obama administration that is truly “breathtaking,” and it should not only concern Republicans. “Suppose the next president says, ‘I’m instructing the Treasury Department [to] no longer collect taxes at a higher rate than 25%,” Cruz remarked on Glenn Beck’s radio program Tuesday. “That happens to be policy I agree with. I would love to see moving towards tax reform and lowering the top...
  • In 1100 AD, The People knew that the death tax was oppressive

    02/06/2014 4:34:40 PM PST · by ProgressingAmerica · 2 replies
    I want to introduce you to a magnificent document that far too few people have read. But before I introduce it to you, I need to remind you of something written in Federalist #84, that English history is American history. Hamilton specifically sites several(major) English documents that are important pre-cursors to the US Constitution. The earliest of said documents in that chain is the magnificent 1100 Charter of Liberties. Hamilton cites Magna Carta as the earliest, but the M.C. is really reliant upon the 1100 Charter as a precedent. In this Charter of Liberties, you will see, among other things,...
  • 2013 Expatriations Increase by 221%: Number of Americans Who Renounced U.S. Citizenship Soars

    02/07/2014 8:14:31 AM PST · by SeekAndFind · 10 replies
    International Tax Blog ^ | 02/07/2014 | Andrew Mitchell
    Today the Treasury Department published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency (“expatriated”) during the fourth quarter of 2013. The number of published expatriates for the quarter was 630, bringing the total number of published expatriates in 2013 to 2,999.  The total for the year shatters the previous record high of 1,781 set in 2011 and is a 221% increase over the 2012 total of 932.We do not believe that the primary reason for the increase in expatriations is for political purposes or for individuals to reduce taxes.  Instead, we believe that...
  • Are Academics Culturally Taxed?

    02/06/2014 12:35:32 PM PST · by Academiadotorg · 5 replies
    Accuracy in Academia ^ | February 6, 2014 | Malcolm A. Kline
    Evidently, academics finally found a tax they don’t like. “‘Cultural taxation,’ is a term coined by Amado Padilla in 1994 as a way of describing the unique burden placed on ethnic minority faculty in carrying out their responsibility to service the university,” Cecil Canton, a professor of criminal justice at CSU Sacramento, states. Padilla is a professor of Psychological Studies in Education at Stanford. “He defined ‘cultural taxation’ as the obligation to show good citizenship towards the institution by serving its needs for ethnic representation on committees, or to demonstrate knowledge and commitment to a cultural group, which, though it...
  • House Republican pushing mileage tax to bolster Transportation funds (RINO Alert)

    02/06/2014 7:36:02 AM PST · by C19fan · 63 replies
    Hot Air ^ | February 6, 2014 | Ed Morrissey
    Over the last few years, we’ve seen Democrats raise the idea of adding a new revenue source to supplement the gas tax, as revenues have declined from this stream due to increased fuel efficiency thanks to mandates to that effect imposed by Congress. One bad idea that never seems to die is a mileage tax, which would force Americans to track their travel — or have government do it for them. That idea got shelved along with the Democratic House majority in 2011, but now it’s crept across the aisle (via Instapundit):
  • Senator Cruz still promotes the socialist/progressive’s tax upon incomes?

    02/04/2014 4:39:05 PM PST · by JOHN W K · 52 replies
    2/4/14 | johnwk
    SEE: Ted Cruz readies for next round of tea party-fueled fight Gromer Jeffers Jr. 03 February 2014 10:36 PM Now, Cruz said, he wants to engage voters on other issues as well. He said he hoped Congress would use this year to overhaul tax and regulatory policy. And later he expressed his support for ideas like a flat federal income tax rate for everyone, saying people should mail back their tax returns on a postcard. “We need to get back to the policies that work, like fundamental tax reform,” he said. This is very disturbing. What we really need to...
  • Most tax-friendly states for retirees

    01/31/2014 6:32:20 PM PST · by gooblah · 7 replies
    Yahoo/Marketwatch ^ | January 31 2014 | Robert Powell
    When it comes to finding a state to which to retire, there are plenty of factors to consider.