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April 15 is right around the corner, and millions of Americans will find themselves paying more in taxes than ever thanks to Obamacare. The law is more than a fundamental change to the country’s health care system. It also is a massive tax hike. As The Heritage Foundation’s Federal Budget in Pictures shows, according to the most recent scores, Obamacare will increase taxes by nearly $800 billion for the period of 2013-2022.

Steamboat Springs — Routt County commissioners are among local government officials in Colorado who are railing against the latest plans of the state legislature to appropriate $20 million from the mineral severance tax fund to balance the 2015-16 budget. "Since I’ve been a commissioner, this is the fourth or fifth time they’ve raided the severance tax to take care of the state’s budget, and to the detriment of local governments,” Routt County Commission Chairman Doug Monger said. “If we don’t make noise about it, it will become a normal event. We have to get out there and say ‘This really...

The Obamacare "Cadillac tax," which will tax businesses for employee health plans that are above a certain level by 40 percent, could be the next big fight in the push to either repeal or change the Affordable Care Act. This particular piece of the Obamacare law will not go into effect until 2018, but it is already causing headaches for businesses as they put together employee benefit plans. Politico has an in-depth story about the "Cadillac tax," which will apply to individual health plans worth more than $10,200 and family plans worth more than $27,500. The current system in place...

The idea of a bank deposit tax was raised by Labor in 2013 and was criticised by Tony Abbott at the time. Assistant Treasurer Josh Frydenberg has indicated an announcement on the new tax could be made before the budget. The Government is heading for a fight with the banking industry, which has warned it will have to pass the cost back onto customers. Mr Frydenberg is a member of the Government's Expenditure Review Committee but has refused to provide any details

So Governor Mark Dayton of Minnesota wants another new tax--this time adding a 6.5% gas tax at the wholesale level, along with license fee increases and a new metro-wide sales tax for, you guessed it, mass transit. A lack of government revenue isn't what plagues our roads. About 25% of the current federal gas tax of 18.4 (not including diesel) cents per gallon is siphoned off for non-highway uses, primarily via the Mass Transit Account. As a result, the HTF must now rely on general fund bailouts to survive. Recent history here in Minnesota also proves a similar point. In...

A group representing road builders said Thursday that the federal gas tax should be increased by 15 cents per gallon to help pay for infrastructure improvements. The American Road & Transportation Builders Association (ARTBA) said increasing the gas tax this year would raise $401 billion for new transportation spending. The gas tax hike could be offset with a “federal tax rebate for middle and lower income Americans for six years,” the group suggested.

Interenet Tax

Live in California and looking for more money in your wallet upon purchasing a green vehicle? The state’s legislature just might make that wish come true. The Los Angeles Times reports a bill sponsored by Assemblyman Phil Ting of San Francisco would reduce the sales tax on so-called clean vehicles from 7.5 percent to 3.06 percent. The reduction would be applied to EVs, PHEVs, FCVs and CNG-powered models. Should the legislation become law, over $92 million in tax revenue would disappear between 2016 and 2020, when the law rides off into the sunset; the figure is based on 60,000 PHEVs...

Unlike its foolish neighbors to the north in New York, Pennsylvania has been enjoying the fruits of the energy boom for several years now. Natural gas drilling in particular has been paying benefits to the government and the citizens, with thousands of new jobs and all of the secondary growth which is associated with higher employment levels. In November of last year, however, the citizens of the Keystone State decided to oust incumbent Republican Governor Tom Corbett and replace him with Democrat Tom Wolf. Would anyone care to hazard a guess as to what one of the new guy’s...

With EVs and other fuel-efficient vehicles saving consumers money at the pump, Oregon will be the first to issue a per-mile road tax to refill its coffers. Automotive News reports the state will offer two options to its motorists: pay at the pump, or pay a 1.5-cent rate per mile traversed. The latter will be conducted through a device that plugs into a vehicle’s OBD port, then gathers mileage data to determine how much the motorist will pay in tax. Right now, the program — set to begin July 1 — will be implemented by the Oregon DOT in partnership...

I know that a lot of tax reform hawks were hoping for more of a complete overhaul, perhaps taking the form of an entirely new system which replaces the progressive tax code with a completely alternate structure. (Something along the lines of a flat tax, consumption tax, etc.) It doesn’t look like that will be happening any time soon, but Marco Rubio and Mike Lee are at least looking at some simplifications. GOP Sens. Marco Rubio of Florida and Mike Lee of Utah are rolling out an overhaul of the tax code on Wednesday that, among other things, consolidates...

[What follows is not legal, accounting, or tax advice, but merely the ruminations of a concerned citizen.] Until Obamacare is repealed, you should, as many have noted, adjust your withholding and estimated tax payments so that you owe a small amount of tax when you file your return, rather than overpay so that you are in a refund position. Assuming that you have done this, then you will have to make a payment when you file your income tax return. It may be that if you are not careful in how you pay your balance due, you may end up...

Gov. Tom Wolf is expected to call today for the Republican-controlled General Assembly to send him a budget that boosts state education funding and provides relief for school district property taxes while raising the rates of the sales and personal income taxes. His plan for doing so includes a proposal to raise the personal income tax rate in July 2015 from 3.07 percent to 3.7 percent, while increasing the eligibility for a poverty exemption, according to a briefing document prepared by the administration. He will propose increasing the state sales tax in July 2016 from 6 to 6.6 percent while...

Georgia lawmakers may eliminate a tax break for all airlines buying jet fuel at the world’s busiest airport. A bill filed in the House would cut the exemption at Atlanta’s Hartsfield Jackson Airport. Supportive lawmakers say it would help the state get federal money for aviation improvements throughout the state. They also argue the credit shouldn’t be kept in place forever....

Under the false pretense of calling for new and tougher so-called fiduciary standards for financial brokers, advisers and retirement plan representatives, the White House once again horned in on Wall Street’s compensation formulas. However, what the president surely knows is that a vast majority of retirement plans — IRAs and 401(k)s — are in simple fee-based products like mutual funds. The commission-based accounts are for those who prefer to direct their brokers in certain purchases inside some of their retirement products. The key to the White House’s interference is in its nuanced language. Currently, a broker may make a recommendation...

NOT a single welfare payment has been cancelled for terrorist recruits leaving Australia for the Middle East, or those merely deemed a national security threat, since new laws were enacted last October to crack down on the so-called welfare warriors. The Daily Telegraph revealed at the weekend that 96 per cent of the junior ­jihadis who snuck out of the country before last September had been on some form of welfare payment, prompting the introduction of new laws to stop it. ... Subsequent inquiries, however, have revealed that the new laws have yet to be used, despite some 40 more...

Before the Texas Legislature got down to business a month ago, there was a strong feeling among insiders that the big issues would be water, transportation, and taxes. So far, the leadership has kept true to those projections. Already, Governor Abbott has called for a $2.2 billion reduction in property taxes and a $2 billion franchise tax decrease. Lt. Governor Dan Patrick and House Speaker Joe Straus also have stated their belief that a primary goal should be tax reduction, and funding for transportation. The House Energy and Natural Resources committees already have held a joint hearing on water and...

Complete Headline: Obama administration sent 800,000 people the wrong Obamacare subsidy information – and 50,000 will need to file their 2014 taxes a SECOND time The Obama administration said on Friday that the Internal Revenue Service sent incorrect tax information to about 800,000 Americans who enrolled in new medical insurance plans through Healthcare.gov. The Centers for Medicare and Medicaid Services, the Health and Human Services subagency that handles Obamacare, sent them forms that contained an error which would cause them to miscalculate the government subsidy for their insurance policies. That, the administration admitted, would change the amount of their tax...

Obamacare customers are being asked to wait to file their taxes this year because of yet another problem with the online system. The Obama administration acknowledge Friday that about 800,000 users of healthcare.gov were sent incorrect tax information, the Associated Press reported.