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Keyword: taxation

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  • 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,...