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Keyword: taxes

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  • California Democrats want businesses to give half their tax-cut savings to state

    01/19/2018 7:16:32 PM PST · by Beave Meister · 22 replies
    SF Gate ^ | 1/19/2018 | Melody Gutierrez
    California lawmakers are targeting the expected windfall that companies in the state would see under the federal tax overhaul with a bill that would require businesses to turn over half to the state. A proposed Assembly Constitutional Amendment by Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families. “Trump’s tax reform plan was nothing more than a middle-class tax increase,” Ting said in a statement. “It is unconscionable...
  • Will a government shutdown delay my tax refund?

    01/19/2018 4:21:24 PM PST · by Hadean · 28 replies
    Dayton Daily News ^ | Jan. 19, 2018 | Katie Wedell
    One way this potential government shutdown would be different than in the past -- there’s never been a federal shutdown during tax filing season. Nor has the government been shut down amid the implementation of a massive tax code overhaul. The Internal Revenue Service would lose an estimated 56 percent of its workforce to furloughs if the government shuts down, according to the U.S. Treasury. And it would be happening right when the IRS is updating its guidelines and software, while also fielding questions from the public about new tax laws. Experts told the Washington Post that even a short...
  • Tax Software and New Standard Deductions

    01/19/2018 10:36:16 AM PST · by madison10 · 35 replies
    Maddie10 | 1/19/2018 | Madison10
    Just performed the 1/19/2018 update on my tax software. I had expected that larger standard deduction to show up, but alas it did no. Does anyone know if that deduction will show up in the February update?
  • People flocking to low-tax states could swing future elections

    01/18/2018 10:53:08 PM PST · by qaz123 · 68 replies
    The Hill ^ | 18Jan18 | Jonathan Williams
    Just a month ago, as friends and families prepared to gather for the holiday season, the men and women at the U.S. Census Bureau were busy releasing their latest annual estimates of population changes across the United States. With the hustle and bustle of the season, many Americans missed the important new data. The new census estimates detail how states have grown since the last full census in 2010. The estimates provide some fascinating insight on what we can expect from the quickly approaching 2020 Census. For those of us wonky enough to follow the annual trends in state-by-state migration,...
  • Wealthy exodus to escape new tax rules worries California Democrats

    01/18/2018 6:35:38 PM PST · by Beave Meister · 55 replies
    Sacramento Bee ^ | 1/18/2018 | ADAM ASHTON
    The Republican-backed federal tax bill flipped the tables on a never-ending question for California politicians: Will high taxes lead the state’s wealthiest residents to flee the Golden State for the comparable tax havens of Florida, Nevada and Texas? Republicans reliably raise that alarm when Democrats advocate for tax increases, like the 2012 and 2016 ballot initiatives that levied a new income tax on very high-earning residents. But now, with the federal tax bill cutting off deductions that benefited well-off Californians, the state’s Democrats suddenly are singing the GOP song about a potential millionaire exodus. “People with higher incomes pay a...
  • Apple CEO: Trump Tax Plan ‘Will Result in Job Creation and a Faster Growing Economy’

    01/18/2018 5:10:37 PM PST · by Swordmaker · 23 replies
    Breitbart ^ | January 18, 2018 | by LUCAS NOLAN
    Associated Press Apple CEO Tim Cook said in a recent interview that President Trump’s tax plan would result in a faster-growing economy and greater job creation. In an interview with ABC News, Cook discussed a number of recent announcements by Apple, including their plan to invest $350 billion in the U.S. economy over the next five years and how President Trump’s tax plan will help the U.S. economy. Cook refused to “take a position” on how the new tax plan will affect individual Americans but commented on the corporate tax saying, “I do believe the corporate side will result in...
  • The Biggest Winners of Trump's First Year Are Moms

    01/18/2018 11:31:09 AM PST · by Kaslin · 5 replies ^ | January 18, 2018 | Kimberly Fletcher
    This week marks the first full year of Donald Trump’s presidency. While the media would have you believe he is the worst president in history and his policies are literally destroying the world, the fact is, like him or not, the American people have had some really big wins this first year—and the biggest winners are moms!For those of us who determined it a complete waste of time to try and navigate through the sea of nonsense to find the real news, I, as a mom, thought it prudent to give a true accounting of Trump’s first year—and why...
  • Poll: Support for Trump tax law increasing

    01/17/2018 7:44:46 PM PST · by 11th_VA · 30 replies
    The Hill ^ | Jan 17, 2018
    Support for the new tax law is increasing, according to a new poll, though it still isn't favored by a majority. The poll, conducted for The New York Times, found that 46 percent of respondents strongly or somewhat support the plan, up from 37 percent in December.
  • Trump schools GOP Congress to play hardball

    01/17/2018 9:42:29 AM PST · by Kaslin · 17 replies
    American ^ | January 17, 2018 | Monica Showalter
    Something good is happening in Congress these days. Instead of rolling over for Democrats and virtuously claiming they've "reached across the aisle," as they always have done, Republicans are now playing hardball. They've maneuvered to put entitlements and swing state-sensitive tax cuts on the line as bargaining chips to avoid a government shutdown. In doing this, they have just laid out a plan to beat the Democrats at their own game. According to Wednesday's front-pager in the New York Times: WASHINGTON – With little hope of an immigration agreement this week, Republicans in Congress are looking to head off a...
  • 2018 could see wave of West Coast climate pollution pricing

    01/17/2018 7:32:41 AM PST · by Oldeconomybuyer · 14 replies
    Reuters ^ | January 17, 2018 | by Gregory Scruggs
    SEATTLE - If elected officials get their way, the entire West Coast of North America could be putting a price on pollution by the end of this year. As state legislature sessions opened this month, Washington state Governor Jay Inslee called for a carbon tax and Oregon legislators proposed a “cap and invest” system. Both policies are designed to make industrial emitters of carbon dioxide pay some of the costs of damage caused by growing levels of carbon dioxide in the atmosphere, and to create incentives for them to reduce emissions. Carbon dioxide emissions are one of the major drivers...
  • Tax Reform Myths and Realities

    01/16/2018 9:56:37 PM PST · by lowbuck · 1 replies
    Spectator ^ | January 17, 2018 | Ron Ross
    The recently enacted tax reform/tax reduction is possibly the most misinterpreted and misrepresented policy change in the history of policy changes. For example, it has been accused of benefiting only the wealthy and of adding $1.5 trillion to the federal debt. There are numerous reasons to be highly skeptical of both these assertions. . . snip In a single masterful stroke Trump and his fellow Republicans have increased the net profits of virtually every corporation in America. That is going to set off an economic chain reaction. . . snip Consider the implications of what could well happen. Lower taxes,...
  • Drive-Bys Downplay the Trump Boom After Telling Us the Tax Cut Wouldn’t Work

    01/16/2018 2:45:20 PM PST · by Kaslin · 17 replies
    Rush ^ | January 16, 2018 | Rush Limbaugh
    RUSH: Jacksonville, Florida. Bobby, great to have you on the EIB Network. Hello. CALLER: Hey, Rush. Good afternoon. RUSH: Great to have you, Bobby. CALLER: (muffled) Thank you. You know, listening to you and the media saying that for eight years they told us that the new norm was like 0.5% or 1% GDP. Unemployment was supposed to go up. Food stamps. More people were on food stamps. For eight years, we heard about it. Now Trump has been in office for one year and the economy is booming. How can they…? I can’t figure out the media. What do...
  • Why taxes matter after all (Why Blue States Should Stop Complaining and Start Cutting)

    01/16/2018 10:55:05 AM PST · by SeekAndFind · 3 replies
    Washington Times ^ | 01/16/2018 | Stephen Moore
    One premise of modern-day “progressives,” is that taxes don’t have much influence on how much and when people invest, how much they work and save, or where they live. Just Google “Taxes don’t matter” and you will find scores of academic studies and news stories assuring us that taxes have little or no effect on behavior. Boy, has the just-enacted Trump tax bill already proved these critics wrong. With the recent Walmart announcement of an increase in their starting wage, there are now more than 100 companies that have offered bonuses and benefit hikes to their workers due to the...
  • Dems Denigrate Tax Cut [semi-satire]

    01/16/2018 9:33:32 AM PST · by John Semmens · 1 replies
    Semi-News/Semi-Satire ^ | 14 Jan 2018 | John Semmens
    The wave of corporations announcing employee bonuses in the wake of the recently passed Tax Cuts & Jobs Act was denigrated by House Minority Leader Nancy Pelosi (D-Calif) as “pathetic crumbs. These corporations are getting billions in tax cuts, but are only giving out a few thousand to employees.” While the “few thousand” is a per employee figure, the total being paid out in bonuses is in the billions. So far, over two million employees are set to receive a bonus averaging up to $3,000 per worker. On top of these bonuses there will also be individual tax cuts. H...
  • Ducey unveils $10.1 billion state budget

    01/16/2018 6:57:28 AM PST · by SandRat · 4 replies
    Sierra Vista Herald ^ | Howard Fischer Capitol Media Services
    PHOENIX — Gov. Doug Ducey unveiled at $10.1 billion spending plan for next budget year built on projections of more consumer spending, Arizonans buying more lottery tickets and hiring back many of the auditors who ensure that people are paying the state what they owe, auditors the governor previously laid off. As Ducey promised earlier in the week, most of the new spending is earmarked for K-12 education. That specifically includes restoring $100 million to the special account that schools can use for things like textbooks, computers and buses. The cuts to that fund started before Ducey became governor. But...
  • Obamacare Taxes Have Arrived & Republicans Need to Stop Them

    01/15/2018 6:03:44 AM PST · by ReformedMedia · 3 replies
    The Washington Standard ^ | 01-14-2018 | Casey Harper
    The 60 Plus Association released a new ad this week as part of their seven-figure ad campaign to blast the dreaded Health Insurance Tax (HIT), a $21 billion tax that is expected to increase premium costs. The tax went into effect Jan. 1. Although Republicans were able to repeal the Obamacare individual mandate in the latest tax reform package, there are still vestiges of the big government healthcare legislation that remain. Republicans still have a big job ahead of them in the healthcare fight. Among the top priorities are the tax issues such as the medical device tax and health...
  • Republicans’ tax attack on actors

    01/14/2018 12:51:03 PM PST · by Beave Meister · 49 replies
    New York Daily News ^ | 1/12/2017 | Sandra Karas
    You can call me a multitasker; I’m a working actress, an accountant and also a tax attorney. My resume may sound a little unusual, but when April 15 hits, I will fit in with tens of millions of working Americans who have been hurt by sweeping changes in the tax code. The Trump-Republican tax plan, passed without one vote across the aisle, is the most unpopular tax bill in history, and for good reason. It gives small, temporary tax relief to middle-class workers, then raises our taxes to deliver large, permanent tax cuts to the super-rich and the corporations they...
  • AgencyGets $6.7 Million for Sole Purpose of Increasing "Consumption of Fresh Mangos in the US"

    01/14/2018 12:35:40 PM PST · by ReformedMedia · 21 replies
    The Washington Standard ^ | 01-13-2018 | Suzanne Hamner
    The united States government is filled with departments, agencies, boards and bureaus that are outside the authority given to the legislative branch by the Constitution.  Some are prominent in the public sphere – Bureau of Land Management, Bureau of Alcohol, Tobacco and Firearms, Department of Energy, and so forth and so on.  Some are not. Anyone ever heard of the National Mango Board?  Well, this board is contained in the Department of Agriculture and operates on a $6.7 million annual budget.  Its sole purpose is to "increase the consumption of fresh mangos in the united States." reports: The government...
  • Supreme Court to Consider Internet Sales Tax Collection

    01/14/2018 11:34:10 AM PST · by JeepersFreepers · 26 replies
    The Wall Street Journal ^ | January 12, 2018 | Brent Kendall and Richard Rubin
    The Supreme Court on Friday said it would consider whether states can broadly require online retailers to collect sales taxes even if they lack a physical presence in the state, taking a case that could have a major impact on online commerce. The justices on Friday took up that call, explicitly agreeing to consider whether the earlier high-court precedent should be overruled. “My bet is that they are looking at it to overturn,” said Edward Zelinsky, a tax-law professor at Yeshiva University’s Cardozo School of Law. The alternative, he said, would be to point to this issue as an example...
  • As Murphy vows millionaires tax, Christie says Jersey will be sorry if rich people flee

    01/14/2018 5:13:29 AM PST · by SMGFan · 23 replies
    Higher taxes on millionaires coming this year? Not so fast, says a report by the outgoing administration of Gov. Chris Christie. The report, released Wednesday, warns of the financial repercussions of spooking wealthy residents into fleeing the Garden State. When the very rich leave, the report says, it has an outsized impact on New Jersey tax collections. The report reflecting on 24 years of taxpayer movement in and out of New Jersey comes days before Gov.-elect Phil Murphy, who has said he wants to raise taxes on income over $1 million, takes office. Christie himself has warned that wealthy residents...