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Keyword: taxation

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  • Medtronic's Covidien deal spurs debate about corporate taxes

    06/17/2014 4:57:32 AM PDT · by TurboZamboni · 1 replies
    Pioneer Press ^ | 6-16-14 | Christopher Snowbeck
    Is Medtronic's massive international corporate merger a billion-dollar tax dodge, an indictment of the U.S. tax code or a business-savvy work-around that could spur investment and growth in the Twin Cities? The answer depends on whom you ask. The $42.9 billion cash-and-stock purchase of Covidien, which was announced Sunday, comes with plans for Medtronic to decamp its executive suite to Ireland, where Covidien is based. It also will nearly double the size of the Fridley-based medical device maker and likely result in no significant change in its 8,000-strong Twin Cities workforce. The company is talking about adding 1,000 workers locally....
  • Mark Levin distorts the Great Compromise of 1787

    05/23/2014 7:36:45 PM PDT · by JOHN W K · 47 replies
    5-23-14 | johnwk
     On this evening’s show, 5/23/2014, Mark Levin talked about the Great Compromise of the Convention of 1787, but he never mentioned how the apportionment of both taxation and representation became the moving parts of the Great Compromise. So, let me fill in the parts Mark Levin left out. During the framing of our existing Constitution the question of how each State would be represented in Congress became a matter of heated debate and deciding upon rules which fixed each State’s representation created an impasse during the Convention. On July 2nd of the Convention Sherman of Connecticut remarked: “We are now...
  • Is All Taxation Equal Under the Law

    03/28/2014 2:20:27 PM PDT · by MosesKnows · 4 replies
    3/28/2014 | MosesKnows
    Is All Taxation Equal Under the Law Does the US Tax Code treats healthcare insurance premiums differently between employer paid premiums and individual paid premiums? Manufactures began offering free healthcare insurance as a way to attract employees and avoid violating World War Two Wage and Price Controls. Free always guarantees a demand. Later, perhaps 1948, the courts declared that employer paid healthcare insurance premiums were not taxable income.
  • '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...
  • Taxation for the Sake of Taxation

    03/01/2014 7:19:14 PM PST · by SeekAndFind · 2 replies
    Frontpage Mag ^ | 03/01/2014 | Daniel Greenfield
    What’s the Labour Party anthem again? It goes a little something like this, “The people’s flag is deepest red.” So these poll results should come as no surprise. Here’s the legend: Con = Conservative Party (Tories); Lab = Labour (equivalent to USA’s Democrat Party); Lib Dem = Liberal Democrat (not as left-wing as Labour); UKIP = UK Independence Party.The esteemed countermoonbat Daniel Hannan provides some analysis: Sixty-nine per cent of Labour supporters would want a top rate tax of 50 per cent even if it brought in no money. If you want to understand, for example, why Red Bill in...
  • 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...
  • The 106.2% Solution? Top 40% Paid 106.2% of Income Taxes While Bottom 40% Paid -9.1%

    12/10/2013 3:58:50 PM PST · by whitedog57 · 11 replies
    Confounded Interest ^ | 12/10/2013 | Anthony B. Sanders
    According to the Congressional Budget Office, the top 40% of Americans paid 106.2% of income taxes. How can the top 40% pay MORE than 100% of income taxes? Simple. The bottom 40% of Americans paid -9.1% of income taxes. And they received an average of $18,950 in government transfers. Of course, we know that real median household income has been falling generally since 2000 and especially since 2007. And house prices have been falling, but house prices have changed course and have been rising since 2012. csrealinc Seriously, how can the US have a dynamic housing market with such a...
  • The Coming Global Wealth Tax

    12/04/2013 7:54:16 AM PST · by rktman · 19 replies
    Wall Street Journal ^ | 12/3/2013 | Romain Hatchuel
    Between ObamaCare, Iran and last quarter's uptick in U.S. economic growth, taxpayers these days may be distracted from several dangers to come. But households from the United States to Europe and Japan may soon face fiscal shocks worse than any market crash. The White House and New York Mayor-elect Bill de Blasio aren't the only ones calling for higher taxes (especially on the wealthy), as voices from the International Monetary Fund to billionaire investor Bill Gross increasingly make the case too.
  • Why Coolidge Is Cool Again

    11/18/2013 5:55:38 AM PST · by statestreet · 24 replies
    The Federalist ^ | November 18, 2013 | David Pietrusza
    On Thursday evening, October 28, 1920, vice presidential candidate Silent Cal Coolidge invaded Manhattan. Commencing from Wall Street, his plan was to process steadily uptown, being joined by as many supporters as he might, to finally reach Carnegie Hall, there to address whatever Republican faithful he might attract within the city limits. The New York Times, for some reason, lacked faith that much might come from his plan. But as Coolidge advanced ever northward, a full seventy-five thousand enthusiastic marchers joined with him, representing any number of the city’s trades and professions. They advanced through Greenwich Village’s Washington Square and...
  • Beyond Dowd's Vision of Thunderdome

    10/13/2013 3:46:27 AM PDT · by Cincinatus' Wife · 16 replies
    American Thinker ^ | October 13, 2013 | William Sullivan
    .........If Dowd thinks Cruz a radical for taking to the Senate floor with his legitimate grievances about ObamaCare and the underhanded manner in which it was imposed upon the American people,I wonder what she might say about Virginian Patrick Henry's response to the Stamp Act of 1765,which whipped American colonists into an anti-British fervor? Britain,trying to raise tax revenue to pay for the French and Indian War,from which the American colonies benefited,issued an edict requiring a government stamp on newspapers,legal documents,and other items. According to historian H.W. Crocker III, Patrick Henry:... used the Stamp Act to declare that as Caesar...
  • Sen Landrieu on Senate Floor Biggert Waters 'Never Voted On' 'Went Dark', 'Tucked into Transportat

    10/06/2013 3:54:31 PM PDT · by Neidermeyer · 56 replies
    C-Span via Youtube ^ | 05/11/2013 | Landrieu
    Senator Landrieu outlines how the Biggert Waters flood insurance bill was manipulated through the legislative process without ever coming up for a vote in the Senate. This bill is nothing but a tax increase on anyone with property that requires flood insurance... People are now unable to sell property as this is driving away any and all buyers .. if you sell without disclosing the premium increases that will be levied on a new owner (rather than increased incrementally on existing property owners) you will be sued ,, bank on it. This is also impacting hurricane Sandy victims in the...
  • MANDATORY OBAMACARE INSURANCE IS "TAXATION WITHOUT REPRESENTATION !"

    10/02/2013 6:58:28 AM PDT · by Graewoulf · 20 replies
    Graewoulf | October 2, 2013 | Graewoulf
    The Original Boston Tea Party had the slogan: “NO TAXATION WITHOUT REPRESENTATION !” Back then in the 1700’s the Colonists did not like Tyranny, and eventually went to War to rid themselves of it. Today, low-information people, and their "Mainstream" Media's attitude is: “Tyranny? Is that like “bad” or something?” High-information people realize that we have had Tyranny imposed on us by our own NINE SUPREMES when they told us that ANY Administration can force us to buy anything they want us to buy as long as it is called a MANDATORY TAX. The Obama Administration then decreed that the...
  • WHY WASHINGTON NO LONGER LISTENS TO US!

    09/24/2013 12:54:38 PM PDT · by Dick Bachert · 30 replies
    Vanity | 9/24/2013 | Dick Bachert
    As I compose this, I'm watching Ted Cruz as he filibusters to halt the disaster called Obamacare. I hope you will watch it as well. If he has used it once, he's used the phrase "...we no longer listen to the people, our constituents..." over a hundred times. And he's right...they don't. And the fact is, THEY NO LONGER NEED TO. I've sent my little rant on this topic before but Ted's honest comment compels me to do so again. Dick Bachert ************* WHY THE POLITICAL RULING CLASS NO LONGER LISTENS TO US! Among others, Thomas Jefferson warned that the...
  • Employers cut jobs in 20 US states in August

    09/20/2013 9:17:17 AM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Sep 20, 2013 12:00 PM EDT | Christopher S. Rugaber
    Employers cut jobs in 20 states last month, suggesting modest improvement in the U.S. job market this year is not enough to benefit all areas of the country. The Labor Department said Friday that 29 states added jobs, while Montana showed no net gain or loss in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15. …
  • Obamacare More Complicated Than “The Matrix” (HHS Secretary Sebelius Is Mrs Smith)

    09/11/2013 6:51:41 PM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 09/10/2013 | Anthony B. Sanders
    The October 1st start date is only a few weeks away from a dramatic reduction in personal liberties and greater taxation and growing government power. The Affordable Healthcare Act (aka, Obamacare) started with Hillary Clinton in her aborted efforts when Bill Clinton was President. It was dubbed “Hillarycare” and deemed to be a disaster (just ask economist Brad DeLong). While George W. Bush was President, Hillarycare was transformed under the guidance of the Center for American Progress. This became Obamacare with the election of Barack Obama. After meetings with lobbyists, Congress, the Administration and the Center for American Progress (behind...
  • Obamacare Disaster: Cadillac Coverage Should Be Renamed “Titanic” Coverage

    08/05/2013 11:17:21 AM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 08/05/2013 | Anthony B. Sanders
    Trying to forecast housing demand is complicated by the abysmal slowdown in jobs growth and more and more young people living in their parent’s basement than before. Another complicating factor is the Affordable Care Act (aka, Obamacare). [The American Action Forum is an excellent source of information on Obamacare]. As a former resident of Ohio and a current resident of Virginia, I was stunned to see the growth in insurance premiums under Obamacare. In Ohio the cost of a basic “bronze” plan for a 25 year old will virtually triple to $1,956 a year. A 25 year old will in...
  • Amnesty's price: $12,433 for every legalized immigrant household

    07/12/2013 7:36:41 AM PDT · by TADSLOS · 13 replies
    Washington Examiner ^ | 12 July, 2013 | Paul Bedard
    A fight has erupted over the costs of granting amnesty to the estimated 11 million illegal immigrants in America, with the White House claiming the cash benefits to the Treasury are huge and will slash the deficit, and critics showing it will cost Americans more and increase the deficit. The White House late Thursday dispatched an email to President Obama's campaign supporters that provided a video claiming that immigration reform will result in a 5.4 percent growth in GDP as "highly skilled" workers and "entrepreneurs" add to the country's economic base. No mention was made of low-skilled workers, the bulk...
  • 35 years ago today, California voters passed Prop. 13

    06/06/2013 5:54:58 PM PDT · by Fiji Hill · 20 replies
    SF Gate ^ | June 6, 2013 | Lois Kazakoff
    No initiative mounted by the public has brought more change to California than Proposition 13, which voters passed 35 years ago today. Did it keep the middle class in their rapidly appreciating homes or set the stage for the struggling public schools and crumbling public infrastructure California has today? Californians cling tightly to both views.
  • Obamacare Sticker Shock: Taxing Over 15,000 Medicines

    10/14/2010 6:42:43 AM PDT · by kristinn · 46 replies · 1+ views
    Human Events ^ | Thursday, October 14, 2010 | Connie Hair
    Nancy Pelosi warned us we’d have to pass Obamacare to find out what’s in it. And what we’re finding we don’t like at all. Higher insurance premiums are hitting families hard. Medicare Advantage has been decimated. Millions will be forced into government-run Medicaid where long lines and rationing await. If we like our insurance -- too bad. Beginning January 1, 2011, more than 15,000 over-the-counter (OTC) health care items will require a prescription (and that means a doctor’s visit) for tax-free reimbursement. Under Obamacare, OTC drugs cannot be reimbursed tax-free from Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs)...
  • Republicans: IRS scandal shows agency 'rotten at the core,' needs major reform

    05/18/2013 10:26:50 AM PDT · by Zakeet · 30 replies
    Fox News ^ | May 18, 2013
    The IRS targeting Tea Party groups and other conservative-leaning political organizations has reignited calls for reform and the argument among Capitol Hill Republicans that the federal government has become too big and out of control. Among those leading the calls for reform is Michigan Rep. Dave Camp, chairman of the Republican-led House Ways and Means Committee, which held a hearing on the scandal five days after the targeting was made public and two days after the resignation of acting IRS Commissioner Steven Miller. “This systemic abuse cannot be fixed with just one resignation,” Camp said at the start of the...
  • Refining Our 'Theory' of Taxation (Is this really the way the Founders wanted it?)

    03/27/2013 5:45:56 AM PDT · by SeekAndFind · 3 replies
    American Thinker ^ | 03/26/2013 | Jon N. Hall
    We Americans are taxed at just about every juncture in life that involves money. We are taxed when we earn our money and when we spend our money. We are even taxed when we give our money away, unless our gift recipient is a government-approved entity. We are taxed when we don't realize we're being taxed, as in the hidden, embedded taxes built into the prices of the goods we buy, which pay for corporate income taxes. (You didn't think that corporations paid taxes, did you?) In addition to all the taxes Americans are already paying, government continually enacts new...
  • Why Wealthy Chinese Are Giving Up U.S. Green Cards

    03/23/2013 8:55:14 PM PDT · by cunning_fish · 14 replies
    WSJ Live ^ | March 13, 2013
    An American passport can be a costly accessory-with U.S. citizenship come U.S. taxes. The WSJ's Wei Gu explains why some wealthy Chinese are instead taking advantage of offers to become citizens of cash-strapped European countries and wealthy Asian cities.
  • No to the Flat Tax, Gold Standard and Other Stale Ideas

    02/22/2013 7:41:35 AM PST · by SeekAndFind · 30 replies
    National Review ^ | 02/19/2013 | James Pethokoukis
    Free enterprise, free markets, competition, and choice: All are timeless economic principles, but their application can and should evolve with changing economic circumstances. When Ronald Reagan was elected president in 1980, the top income-tax rate was 70 percent, inflation was 13 percent, health-care spending was 10 percent of GDP, and publicly held debt was 26 percent. The average American was 30 years old.Today, the top marginal tax rate is 40 percent, and inflation is 2 percent. Health-care spending and the debt have both risen by nearly 80 percent as a share of output. The average American is 37 years...
  • Ben Carson for President

    02/09/2013 9:37:14 AM PST · by Katya · 78 replies
    The Wall Street Journal ^ | 02/08/2013 | Review and Outlook
    "Whether this weekend finds you blowing two feet of snow off the driveway or counting the hours until "Downton Abbey," make time to watch the video of Dr. Ben Carson speaking to the White House prayer breakfast this week. Seated in view to his right are Senator Jeff Sessions and President Obama. One doesn't look happy. You know something's coming when Dr. Carson says, "It's not my intention to offend anyone. But it's hard not to. The PC police are out in force everywhere."
  • Changing America's course: An interview with Stanley Mack

    01/20/2013 2:48:38 PM PST · by SincerelyAmanda · 1 replies
    The Communities at The Washington Times ^ | January 20, 2013 | Amanda Read
    . . . "To this district and anybody who intends it harm, or anybody who wants to allow it to just exist and fester: This is a wake-up call for all conservatives, Republicans. This is a wake-up call for our nation," says Mack. "There is no other reason that we have allowed the issues to go this far, and to continue the dogma and lip service that we’re getting from some of our elected officials." In the midst of a challenging era, Mack won't be an ideologue bound by negative talking points. On the subject of making Alabama's budget more...
  • 'Taxation Without Representation' plates on Obama motorcade

    01/19/2013 1:35:02 PM PST · by Libloather · 37 replies
    The Hill ^ | 1/19/13 | Kevin Bogardus
    President Obama’s motorcade sported “Taxation Without Representation” license plates for the first time on Saturday. As part of the National Day of Service kicking of a weekend of inaugural events, the president has traveled to the Burrville Elementary School in Northeast Washington to participate in a City Year service project. Three vans in Obama’s motorcade were outfitted with the unique D.C. license plates as the president traveled to the school, according to a White House pool reporter. The reporter said other vehicles in the motorcade had Maryland, Virginia or U.S. government plates. The White House decision earlier this week to...
  • Boehner starts second speaker term vowing end to one-on-one meetings with Obama

    01/03/2013 4:40:03 PM PST · by EagleUSA · 37 replies
    Fox News ^ | 1/3/2013 | Fox News
    John Boehner's first order of business in his second term as speaker is no more one-on-one meetings with President Obama. An aide to the speaker, who won re-election to the leadership post Thursday afternoon, confirmed to Fox News that Boehner is done with closed-door talks with the president. Boehner and Obama over the past two years have made two unsuccessful attempts at striking a "grand bargain" deficit-reduction deal. The last set of talks, in the context of crafting a bill to avert the fiscal crisis, ended with Boehner exiting the negotiations and pushing a failed "Plan B" and then being...
  • The elephant in the room

    12/16/2012 2:37:47 PM PST · by Rusty0604 · 3 replies
    Athens News ^ | 11/08/12 | Athens News
    Of course, Greeks must tighten their belts. But is the decimation of the middle class - through a change in labour laws and unbearable tax burdens - the way out of Greece’s financial impasse? At the same time, next to nothing has been done about the ineffectual and massively unproductive public sector which brought the country to its knees in the first place. The entrenched fear of unions and political cost has for decades prevented successive governments from taking drastic action to reform and modernise an antiquated civil service which, in many ways, instead of serving citizens and their interests...
  • How Much Taxation Would Fund Current Spending?

    12/12/2012 8:24:19 AM PST · by SeekAndFind · 21 replies
    American Thinker ^ | 12/12/2012 | Justin Hohn
    To best understand this spending aspect of the current budget negotiations in Washington, we must answer one crucial question: how much taxation on the top income-earners would be required to fully fund the present level of government spending? To do so, we must first make the unreasonable assumption that the rich will not respond to confiscatory tax rates and hide money from being taxed. This is unreasonable because no scheme of taxation since WW2 has been able to capture more than 21% of GDP. With current spending levels around 23% of GDP, history suggests that no level of taxation we...
  • Is Mitt Romney right to question representation without taxation?

    12/03/2012 1:39:01 AM PST · by Smokin' Joe · 22 replies
    The Telegraph ^ | September 19th, 2012 | Ian Cowie
    Most commentators agree that Mitt Romney has committed political suicide by pointing out that 46pc of Americans pay no income tax but he may have done us all a favour by raising a fundamental weakness in many developed economies – including Britain’s – which is also one of the causes of the credit crisis. Whether or not his candour costs the Republican candidate any hope of winning the Presidential Election in November, he has certainly demonstrated the modern meaning of the word ‘gaffe’ – that is, a statement of the bleedin’ obvious by someone in the public eye. There can...
  • Middle-Class Wealth Protection, Post-Fiscal Cliff

    12/02/2012 4:07:37 PM PST · by betty boop · 61 replies
    self | December 2, 2012 | Jean F. Drew
    Middle-Class Wealth Protection, Post-Fiscal Cliff By Jean F. Drew I don’t know about you, but I’m a lifelong, middle-class working stiff who has managed to accumulate a certain modest amount of “wealth” designated to be sent to the future, to supply my support and lifestyle needs when I am “old” and no longer have employment income. I’m speaking of my 401(k)s and IRAs. The way I have assets deployed in these accounts very likely will need to change, given the absolutely predictable outcome of the much-hyped impending fiscal cliff. At least, that is my supposition. Consider: We get the fiscal...
  • Obama Washington Wink-Winking like crazy at EPA

    10/19/2012 12:19:46 AM PDT · by Cincinatus' Wife · 13 replies
    The Washington Examiner ^ | October 19, 2012 | Mark Tapscott, Executive Editor
    President Obama is among the slickest practitioners ever of the Washington Wink-Wink -- what professional politicians in both parties do when they say one thing while planning to do something else entirely. There was, for example, Obama's 2008 campaign promise to "cut the federal deficit in half." And that "net federal spending cut" he would achieve by the end of his first term? Anybody think he didn't know then that his first term would explode the deficit and spending to historic highs? Sen. Jim Inhofe, R-Okla., the ranking minority member of the Senate Environment and Public Works Committee, sees more...
  • EU: French business erupts in fury against "disastrous" Hollande

    10/15/2012 10:17:08 PM PDT · by bruinbirdman · 18 replies
    The Telegraph ^ | 10/15/2012 | Ambrose Evans-Pritchard
    France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. Francois Hollande is tightening fiscal policy by 2pc of GDP next year to meet EU deficit targets “The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF. “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” MEDEF, France’s equivalent of the CBI,...
  • French business erupts in fury against "disastrous" François Hollande

    10/16/2012 6:51:02 AM PDT · by LucianOfSamasota · 33 replies
    The Telegraph ^ | 15 Oct 2012 | Ambrose Evans-Pritchard
    France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. “The situation is very serious. Some business leaders are in a state of quasi-panic,” said Laurence Parisot, head of employers’ group MEDEF. “The pace of bankruptcies has accelerated over the summer. We are seeing a general loss of confidence by investors. Large foreign investors are shunning France altogether. It’s becoming really dramatic.” MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist...
  • In second term, Obama will allow UN to tax Americans

    10/09/2012 6:58:31 PM PDT · by EagleUSA · 23 replies
    Fox News ^ | 8 October 2012 | Dick Morris
    It should come as no surprise that President Obama will raise taxes if he is re-elected. But here’s the shocker: He will invite the United Nations to tax Americans directly. And the proceeds would go directly to the Third World. In this way, Barack Obama will, indeed, realize the dreams of his father. In our new book, "Here Come the Black Helicopters: UN Global Governance and the Loss of Freedom," Eileen and I describe how there is now pending in the U.N. all kinds of plans to tax Americans and redistribute their wealth – not to other Americans – but...
  • Vanity - Economics vs. Simple Math

    10/05/2012 7:06:06 AM PDT · by Egon · 16 replies
    10/5/2012 | Egon
    I generally try to stay out of political discussions whenever possible. I have blood pressure considerations to keep in mind. Every once in awhile, though, something happens that really causes my blood to boil, and I’m forced to comment on it. Last night’s debate provided one of those moments. I avoided watching the actual debate. I try never to listen to President Obama speak—I find his delivery unpalatable, not to mention his content. Instead, I watched highlights on various news channels, and even went to MSNBC to find out how the Left responded to the debate. One of the statements...
  • Britain is following Argentina on the road to ruin [sounds like the U.S.]

    10/02/2012 1:11:17 PM PDT · by Cincinatus' Wife · 2 replies
    Telegraph - UK ^ | October 2, 2012 | Thomas Pascoe
    A faltering economy, a coalition government torn between spending cuts and tax rises, a sinking currency, money printing and 'unconventional' monetary policy. Britain in 2012? No, Argentina in 2002. The problems faced by Argentina a decade ago and by Britain are eerily similar. In each case the government believed that through its own sophistication and trickery it could defeat a debt crisis of its own devising. In Argentina, every government action served only to make the situation worse. We are following the same path. ....At each stage, Argentina's recovery was sabotaged by the actions of its own politicians, as can...
  • France’s Socialist 75 percent tax rate is economic suicide

    10/01/2012 12:38:49 AM PDT · by UnapologeticConservative · 32 replies
    The Telegraph (UK) ^ | September 28, 2012 | Nile Gardiner
    Back in May I wrote a piece describing Francois Hollande’s election victory as emblematic of the EU’s decline, noting that “his government promises to be a symbol of everything that is wrong with Europe today.” True to his election campaign promise, the new French president, together with his prime minister Jean-Marc Ayrault, has outlined his plans for a 75 percent marginal income tax rate tax on anyone earning more than €1 million Euros a year. This is economic suicide for the second biggest economy in Europe, a supreme act of financial har-kiri for a country whose public debt has now...
  • 5 Myths About America's Tax System That You Probably Believe

    09/25/2012 10:44:57 AM PDT · by bthockey · 15 replies
    The Band Of Patriots ^ | 9/25/12 | Bryan Thomas
    Most mainstream media outlets aide in the proliferation of myths about our tax system and our economy. Here are 5 myths about the US tax system that you probably thought were true. 1. Once A Millionaire, Always A Millionaire As you can see by the graph below, this shows how many consecutive years millionaires file their taxes as millionaires. Half of the people who become millionaires are only at that status for one year.​ 2. Tax Credits Only Help The Rich This graph shows the effective tax rates since 1980. As you can see, because of tax credits and deductions,...
  • How Liberals Screw the 47 Percent

    09/25/2012 5:13:15 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 98/25/2012 | Christopher Chantrill
    Everyone's getting their knickers in a twist about the 47 percent that Mitt Romney figures are going to vote for Barack Obama, no matter what. But do you know why they will vote for Barack? Wyatt Emmerich did the math back in 2010 for The Clevelend Current in Mississippi. It's been written up at ZeroHedge and by Kathy Shaidle. The message is simple. Earn $3,600 per year as head of a family of three, and your net earnings (after taxes and government benefits) will amount to $31,630. But if you earn $60,000 a year, your net earnings will be $34,366....
  • OBAMA AND THE AFFORDABILITY OF TAXATION

    09/23/2012 7:42:28 PM PDT · by jfd1776 · 5 replies
    Illinois Review ^ | September 23, 2012 A.D. | John F. Di Leo
    Speaking in Wisconsin on September 22, 2012, Barack Obama called for tax increases once again, as usual, this time tellingly stating his belief that "I can afford to pay a little bit more… and Mitt Romney sure can afford to pay a little more." Obama is hoping against hope that he can turn back the clock, back to the days when he convinced a majority, of more than enough states, that he and he alone could clean the air, make the oceans recede, brighten the body politic, and fix what was broken in Washington. He hopes to turn back the...
  • Abp Chaput on voting for Obama: ‘I certainly can’t vote for somebody who’s pro-choice’

    09/17/2012 11:38:54 AM PDT · by Alex Murphy · 129 replies
    LifeSite News ^ | September 17, 2012 | Patrick B. Craine
    PHILADELPHIA, Sept. 17, 2012 (LifeSiteNews.com) - As the November general election approaches, America’s Catholic bishops have been walking a fine line as they strive to avoid appearances of partisanship while at the same time they wage a high-profile battle against the Obama administration over religious freedom. Earlier this month, one of the leading lights in the U.S. episcopate insisted he “certainly” could not vote for Obama, while not specifically endorsing his Republic opponent Mitt Romney. Asked whether a Catholic could vote for Obama in good faith, Archbishop Charles Chaput of Philadelphia replied: “I can only speak in terms of my...
  • HUD Secretary: Without tax hikes, Latinos will go to the 'back of the line'

    09/14/2012 10:29:53 AM PDT · by heartwood · 30 replies
    The Washington Examiner ^ | 9/12/2012 | Joel Gehrke
    Congress must raise taxes on the wealthy "because there just isn't enough to go around," Housing and Urban Development Secretary Shaun Donovan told the Congressional Hispanic Caucus Institute today. "Latino growth has meant that often they're at the back of the line for housing assistance or other things," Donovan said during CHCI's annual Public Policy Conference this morning at the Ronald Reagan Building in D.C. "And the fundamental problem here (in part) is, are we going to continue to invest in those things? And if we continue to cut the budget for Section 8 housing and public housing and a...
  • France's richest man applies to be a Belgian

    09/09/2012 9:33:36 PM PDT · by Racehorse · 12 replies
    ABC News ^ | 9 September 2012
    French president Francois Hollande says there will be no exceptions to his plan to impose a 75 per cent tax rate on millionaires. Mr Hollande's comments came after France's richest man, businessman Bernard Arnault, announced he was applying for Belgian citizenship. Announcing the start of a two-year plan to fire up France's faltering economy, Mr Hollande stood by his plans for the top tax bracket, which would be the highest marginal rate in the industrialised world. "I am in a battle and will not look back," he said. "I am setting up a calendar... two years to create a policy...
  • Federalism Rules — Even When It’s Inconvenient

    09/07/2012 3:34:41 PM PDT · by Starman417 · 12 replies
    Flopping Aces ^ | 09-07-12 | guyfawkes99
    One of the hardest propositions for conservatives to remain consistent on is the issue of federalism. We believe in federalism. We believe that the Constitution enshrined power to the states through the Tenth Amendment. We believe that that power has been eroded away through the years and want it restored.The hard reality of our position is that some states may seek to push positions that we believe threaten liberty. Conservatives have lauded efforts by Arizona to protect their borders consistent with federal policies and Missouri's effort to nullify ObamaCare. But many have blasted California for essentially legalizing medical marijuana...
  • Vietnam oil refinery receives 4-year tax exemption

    08/08/2012 10:14:32 PM PDT · by tsowellfan · 6 replies
    ung Quat, Vietnam’s only oil refinery, received various tax incentives from the government last week, including a four-year income tax exemption. Apart from the exemption, Binh Son Refining and Petrochemical Co, which runs the 130,500 barrels-per-day refinery, only needs to pay half its corporate tax for the first nine years after it begins earning taxable incomes. Over the course of 30 years, it will be subject to an income tax of 10 percent, compared to the current 25 percent applied to other businesses, according to the government’s website. Dung Quat, which started operations in February 2009, is also allowed to...
  • Property-tax cheats facing crackdown

    07/29/2012 2:32:24 AM PDT · by Cincinatus' Wife · 21 replies
    Miami Herald ^ | July 28, 2012 | Martha Brannigan
    For years — decades, really — Miami-Dade homeowners have been ducking property taxes by illegally claiming homestead exemptions, usually with impunity. .......The price of getting caught: Up to 10 years of unpaid back taxes, plus a 50 percent penalty and 15 percent annual interest.... Since January, six detectives from the Economic Crimes Bureau of the Miami-Dade Police Department have been working to bolster the muscle of 15 investigators at the Property Appraiser’s Office in nailing violators. That is up from two police detectives deployed in 2011 to tackle a backlog of some 3,500 complaints (now about 2,166) which typically come...
  • The Cost Of Government Regulation: $1.75 Trillion

    07/22/2012 12:17:32 PM PDT · by Zakeet · 4 replies
    Zero Hedge ^ | July 22, 2012 | Bill Buckler
    The Cost Of "Intervention"The Competitive Enterprise Institute (CEI) is a small “think tank” in Washington DC which puts out an annual report called: “Ten Thousand Commandments”. The report deals with the regulatory agencies of the US federal government and the cost of the regulations they continually introduce - and enforce. This report would be typical of the regulatory function of pretty well every government in the world. In all interventionist economies, regulations are not set by the “lawmakers”. The “lawmakers” merely pass the laws, their enforcement is left to the various bureaucratic departments of government. And in order to “enforce”...
  • Hidden California state parks funds spark outrage

    07/21/2012 5:46:46 AM PDT · by Cincinatus' Wife · 27 replies
    The Sacramento Bee ^ | Juy 21, 2012 | Matt Weiser and Kevin Yamamura
    California state parks Director Ruth Coleman resigned and her second-in-command was fired Friday after officials discovered the department has been sitting on "hidden assets" totalling nearly $54 million. The money accumulated over 12 years in two special funds the department uses to collect revenue and pay for operations: $20.4 million in the Parks and Recreation Fund, and $33.5 million in the Off Highway Vehicle Trust Fund. The money accumulated, state officials said, because the parks department had a pattern of underreporting the actual size of the funds in its regular dealings with the state Department of Finance. ....Advocates for the...
  • Quite Possibly The Dumbest Thing I’ve Heard An Economist Say

    07/17/2012 1:12:56 PM PDT · by Zakeet · 19 replies
    Zero Hedge ^ | July 17, 2012 | Simon Black
    In the mid-1800s, a cousin of Charles Darwin by the name of Francis Galton wrote a series of works expanding on an old idea of selective breeding in human beings. Galton’s theory became known as eugenics. At its core, eugenics was underpinned by an assumption that talent and genius were hereditary traits, and that deliberate breeding could improve the human race. Within decades, intellectuals were spending their entire careers studying these ideas, quickly spawning a number of different fields dedicated to ‘racial sciences.’ Scholars began closely examining racial differences and building volumes of statistics on everything ranging from intelligence to...