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Keyword: taxes

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  • Why Bernie’s Crushing Trump (He hasn't been vetted)

    05/24/2016 8:05:47 PM PDT · by 2ndDivisionVet · 15 replies
    The Daily Beast ^ | May 23, 2016 | Michael Tomasky
    If Sanders were somehow able to beat Clinton, he’d be the least vetted, most vulnerable major-party nominee in American history. So Bernie’s still at it, telling George Stephanopoulos on Sunday that he thinks it’s not impossible for him to get 70 percent of the vote in every remaining state. Impossible. If anyone’s likely to hit 70 anywhere, it’s Hillary Clinton in Puerto Rico. Maybe Sanders can do it in the Dakotas, but even that seems ludicrous, because those states have primaries, not caucuses, and he’s never won a primary by that kind of margin except in his home state. But...
  • Google's Paris offices raided by police in tax probe

    05/24/2016 10:10:10 AM PDT · by Cementjungle · 8 replies
    CNN Money ^ | 5/24/2016 | Ivana Kottasova
    French police raided Google's offices in Paris Tuesday, looking for evidence of money laundering and tax evasion. The state prosecutor said specialist anti-corruption officers and 25 tech experts took part in the search. They were trying to establish the scale of Google's business in France and to determine whether it has paid enough taxes. French officials began investigating Google last June, after the country's financial authorities accused it of dodging taxes. The prosecutor's office said Tuesday the preliminary inquiry is looking into "aggravated financial fraud" and "organized money laundering."
  • Seattle's homeless crisis episode 6 Share ally the Transit Riders union

    05/24/2016 8:22:07 AM PDT · by mainestategop
    MAINESTATEGOP ^ | mainestategop
    TRANSIT RIDERS UNION: SUBSIDIZING SLOW INEFFECTIVE TRANSPORTATION AND LAZY ANGRY BUS DRIVERS THAT DON'T GIVE A &#*^@!! In episode six and beyond, we'll take a look at SHARE WHEEL's allies. In this episode we'll discuss one of their biggest backers, the Transit Riders union. According to liberals, TRU is about low income riders joining together with bus drivers to demand cheap effective transporation that works. Transportation for poor working citizens that is cheap, routes that will take them anywhere at anytime and to demand safer transportation. It is anything but. TRU is in truth more of a union for...
  • 'Gigantic' corporate tax hike likely headed to Oregon voters

    05/23/2016 7:40:16 PM PDT · by Olog-hai · 57 replies
    Associated Press ^ | May 23, 2016 7:33 PM EDT | Kristena Hansen
    A massive $2.8 billion annual corporate tax hike is likely headed to Oregon voters in November, a move that could create the most aggressive tax climate for big business of any state in the nation. The ballot proposal comes as raising taxes on the wealthy and large corporations is at the forefront of a national debate — especially among Democratic progressives such as Bernie Sanders and much of Oregon’s electorate — about how to close the gaping economic disparities between rich and poor in a post-Great Recession era. The proposal’s labor-union backers are just one step from getting the measure...
  • Tax Havens: A Legitimate Defense against Greedy Politicos

    05/22/2016 8:10:45 AM PDT · by fella · 5 replies
    Panam Post ^ | 21 May 2016 | Luis Guillermo Vélez
    Officials, Intellectuals, Workers Hypocritically Denounce Strategies They Practice Themselves; Why can’t tax evasion be a legitimate form of self defense? In some countries and circumstances, it is. Despite what politicians want us to believe, tax havens exist because some countries have been turned into tax hellholes by officials bent on “social justice” and “income redistribution.” Sometimes, those same politicians top the list of “offshore” account holders trying to evade taxes. “The Wealth of Nations” by Adam Smith had something to say about this kind of government revenue, namely that taxes are a lesser evil overall than other forms of paying...
  • IRS powerless to stop tax scam costing billions each year

    05/20/2016 2:31:59 PM PDT · by T Ruth · 33 replies
    Fox News ^ | May 19, 2016 | Pete Kasperowicz
    The Inspector General for the IRS said Thursday that the tax collection agency continues to be at risk of paying out billions of dollars in fraudulent Earned Income Tax Credit payments each year, and that there's nothing the IRS can do about it. The Treasury Inspector General for Tax Administration released a report that said almost 25 percent of EITC payments issued last year should not have been issued. That amounts to $15.6 billion in payments under a program that's meant to boost low and moderate-income people and families.
  • Which US States Have The Highest And Lowest Gasoline Taxes

    05/19/2016 6:04:30 PM PDT · by Nachum · 49 replies
    zero hedge ^ | 5/19/16 | tyler durden
    Yesterday we showed something strange: while oil prices have rebounded from multi-year recent lows, gasoline prices have not only rebounded but have done so with a vengeance, sending retail gasoline at the pump is now back to levels last seen just over a year ago, even as WTI (and Brent) is materially lower. As we concluded, "gas prices are unchanged while oil prices are 25% lower." Something did not add up, which prompted some readers to inquire if this was purely a function of higher gasoline taxes.  We don't know the answer, and assume it is a deep secret of America's...
  • Ancient Device for Determining Taxes Discovered in Egypt

    05/19/2016 8:32:23 AM PDT · by BenLurkin · 10 replies
    American and Egyptian archaeologists have discovered a rare structure called a nilometer in the ruins of the ancient city of Thmuis in Egypt’s Delta region. Likely constructed during the third century B.C., the nilometer was used for roughly a thousand years to calculate the water level of the river during the annual flooding of the Nile. Fewer than two dozen of the devices are known to exist. Before the completion of the Aswan High Dam in 1970, the Nile flooded the surrounding plains each year in late July or August. As the waters receded in September and October, they left...
  • US 2016: Failure is a Better Option Than Success

    05/18/2016 6:51:07 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | May 18, 2016 | Bryan Crabtree
    Two-thirds of Americans do not have any taxable income. The most recent IRS data shows that Americans earning over $100,000 per year pay roughly 80% of all taxes in America. This means that roughly seven percent of our nation pays the overwhelming majority of everyone else's government expenses. I'm a big fan of the idea of a nationwide flat tax. But here's the problem: We already have a flat tax and an income tax. Almost every item we buy has a federal tax somehow levied on it. When you pay your cell phone bill you pay a universal access fee...
  • Report: Tesla Used Illegal Foreign Labor to Expand CA Plant

    05/17/2016 7:00:31 AM PDT · by KeyLargo · 8 replies
    Breitbart ^ | May 17, 2016 | Chriss W. Street
    Report: Tesla Used Illegal Foreign Labor to Expand CA Plant by Chriss W. Street 17 May 2016Newport Beach, CA148 First Digital’s Bay Area News Group investigative reporters have accused Tesla Motors of employing foreign contract laborers at $5-per-hour, 10 hours a day, six days a week to expand its government-subsidized California auto plant. In 2009, the U.S. Department of Energy in loaned Tesla Motors $465 million to open a plant for its all-electric Model S vehicle. Despite the $1 billion traditional automakers were paying to build and equip new auto plants, Tesla acquired the bankrupt General Motors “New United Motor...
  • Pension Costs Are Crowding Out Public Safety

    05/16/2016 1:34:14 PM PDT · by MichCapCon · 14 replies
    Michigan Capitol Confidential ^ | 5/15/2016 | James Hohman
    A report from the state House Fiscal Agency shows that there has been a steady decline in the number of police officers in Michigan, falling 15.4 percent from 1990 to 2015. The report does not go into why this is, but here’s one theory: Pension underfunding is crowding out government spending, including hiring decisions. Consider that the state police retirement system now costs between 57 percent and 63 percent of the Michigan State Police’s total payroll. It is not because the benefits are lavish. It is because the state is trying to pay for promises that it made in the...
  • IRS Chief: “Trump is a liar, we audited him because his taxes are highly suspicious” [IRS Lies]

    05/16/2016 9:03:14 AM PDT · by Roos_Girl · 157 replies
    Greenville Gazette ^ | March 2, 2016 | Juan Wilder
    “We don’t care who you are,” stated Koskinen, “Whether you go to church, or don’t go to church.” Koskinen explained audits occur when something pops up in your tax returns they find suspicious. It’s basically all about the numbers. Party or religious affiliation is not part of any IRS audit red flag, according to Koskinen.
  • Four teens charged over alleged rape on Baltic cruise ( Sweden )

    05/14/2016 2:26:50 PM PDT · by george76 · 24 replies
    Sweden - the local ^ | 12 May 2016
    Four men are facing trial this month accused of raping a woman on a student ferry trip between Stockholm and Finland, one in a series of alleged incidents on the so-called Baltic booze cruises. ... On Thursday four 19-year-old men were charged. According to the prosecutor no one else is believed to have been involved in the alleged aggravated rape. ... All Sweden-Finland ferry crossings give adult passengers the opportunity to purchase duty free alcohol, offering a huge discount for Nordic travellers used to some of the highest food and drink taxes in Europe. The incident is among several rapes...
  • Why Puerto Rico is in trouble

    05/14/2016 10:18:41 AM PDT · by ChessExpert · 55 replies
    The Economist ^ | May 11th, 2016 | A.A.K.
    The island’s troubles have their origin in an era of corporate tax incentives in the 1970s that exempted firms from paying federal taxes on profits earned in Puerto Rico. This was done to prevent tax-allergic American companies from setting up shop outside the country. Pharmaceutical, textile and electronics companies flocked to the island to spark a manufacturing boom that lasted for around two decades. In 1996, the American government, under the Clinton administration, started weaning Puerto Rico off these tax breaks to offset some of the country’s federal deficit. The largesse disappeared entirely in 2006 and its economy has suffered...
  • Mark Levin Show,Ray Charles Fridays,M-F,6PM-9PM,EDT,WABC AM,May 13,2016

    05/13/2016 1:49:04 PM PDT · by Biggirl · 18 replies
    Mark Levin Show ^ | May 13,2016 | Mark Levin
    The Legacy Lives On! Mark’s Lost Dog & Cat Rescue Foundation “Conservatism is the antidote to tyranny precisely because its principles are the founding principles.” --Mark Levin in Liberty and Tyranny Welcome to “The Levin Lounge”… Step in and have a virtual FRink.Taking the country by storm, one radio station at a time – and kicking the BUTTS of the competition! Welcome all, to the most FUN LIVE THREAD on FreeRepublic.com! You can call Mark’s show: 1-877-381-3811
  • Job Churn Shows Why Targeted Tax Favors Do Not Work

    05/13/2016 6:42:55 AM PDT · by MichCapCon · 3 replies
    Michigan Capitol Confidential ^ | 5/10/2016 | James Hohman
    There is an underappreciated level of both job creation and job loss constantly happening in Michigan. This can be seen in the most recent “job churn” figures covering July through September of 2015. During that quarter 195,118 jobs were created in Michigan, and 204,087 jobs disappeared according to the Bureau of Labor Statistics. That is out of around 3.6 million Michigan jobs included in this particular federal database. Thus, about one out of every 18 Michigan jobs was newly created during this three month span, and another one out of 18 jobs disappeared. This remarkable “job churn” demonstrates why politicians’...
  • Rank-and-file Illinois lawmakers talking income tax hike, but sizable obstacles in way

    05/13/2016 6:41:19 AM PDT · by sleeper-has-awakened · 9 replies
    Chicago Tribune ^ | 05-13-16 | Monique Garcia
    With state government drowning in red ink and some social service agencies on the verge of collapse, a group of rank-and-file lawmakers is pitching an income tax increase, spending cuts and borrowing as a jumping-off point to a larger budget deal...... ......Under the proposal, the state would bring in roughly $5.4 billion through a combination of tax increases. That includes raising the personal income tax rate from 3.75 percent to as much as 4.85 percent, expanding the sales tax to certain services and eliminating some corporate tax breaks.
  • Herb McMillan: Democrats try to handcuff Hogan

    05/09/2016 12:33:05 PM PDT · by Tolerance Sucks Rocks · 8 replies
    The Capital Gazette (Annapolis) ^ | May 9, 2016 | Herb McMillan
    Ancient Rome declined because it had a Senate; now what's going to happen to us, with both a Senate and a House?" — Will Rogers Most Marylanders are wondering the same thing. This year, the liberal majority in the Senate and House launched a fiscal attack on Gov. Larry Hogan's efforts to balance the budget, reduce the deficit and cut taxes. Their goal: to handcuff Hogan and prevent him from doing the job we elected him to do. Fencing and mandated spending are the manacles Senate President Mike Miller and House Speaker Mike Busch are using. Here's how they work....
  • The Insane Hidden Tax Burden Quietly Eating Up Your Paycheck

    05/06/2016 9:34:25 AM PDT · by sally234 · 17 replies
    Conservative Review ^ | 5-6-16 | John Gray
    There are few things I dislike more than paying taxes. As Americans, a third of all your hard earned dollars is confiscated by the U.S. government. Most of us get to determine what we do with our money – but not when it comes to taxes. However, there is the argument that taxes are a function of our democratic system. Those taxes are the result of laws implemented by freely elected representatives. If anything, we — the voters — are as much to blame for the muddied tax codes as are the nitwit politicians we elect.
  • 'I'm allowed to change': Donald Trump says his tax plan is negotiable - rich probably will pay more

    05/09/2016 7:58:49 AM PDT · by SeekAndFind · 80 replies
    Daily Mail ^ | 05/09/2016 | Nikki Schwab
    * Donald Trump talked about his tax plan on two Sunday shows today, calling it a 'proposal' and a 'floor' * 'It's called life, Chuck,' Trump told Meet the Press host Chuck Todd, explaining that he'll have to negotiate with Congress to get it through * Because of this, Trump lowered some of the expectations, though he said he was open to states increasing the minimum wage. _____________________________________________________ Donald Trump gave himself some wiggle room in the area of taxes, saying what he's proposing most likely won't be the final product and he's 'allowed to change.' 'By the time it...
  • Trump Says Taxes for the Wealthy Should Go Up

    05/08/2016 7:10:24 AM PDT · by Nachum · 118 replies
    Newsmax ^ | 5/8/16 | Thompson/Reuters
    Donald Trump said on Sunday that taxes for the wealthy should go up but that his tax plans would likely be renegotiated with Congress should he win the U.S. presidency. "For the wealthy I think frankly it is going to go up and, you know what, it really should go up," the presumptive Republican presidential nominee told NBC's "Meet the Press." Trump said that he see his current tax plans, which would reduce taxes for the middle class and businesses and increase those for the wealthy, as a negotiating "floor" that may change in dealings with Congress. Latest News Update...
  • Cupertino's mayor is trying to take back his rant against Apple

    05/06/2016 11:18:33 PM PDT · by Swordmaker · 11 replies
    Business Insider ^ | May 6, 2016 | By Kif Lessing
    On Thursday, The Guardian published a report by Nellie Bowles in which Cupertino mayor Barry Chang went on a little bit of a rant against Apple, Cupertino's largest employer. Chang had some harsh words about the company spending $5 billion to build an office in his city, including, for example, that "Apple is not willing to pay a dime" and that "they abuse" the city of Cupertino.Apple says that it pays tens of millions of dollars annually in property tax to Cupertino, and that it is the biggest taxpayer in Cupertino. Apple also says it funds millions in public improvements, such as adding sidewalks, bike...
  • Cupertino's mayor: Apple 'abuses us' by not paying taxes

    05/05/2016 7:28:25 AM PDT · by SES1066 · 44 replies
    The Guardian ^ | 05/05/16 | Nellie Bowles
    Getting local politicians to battle Apple is hard, Chang said. He recently proposed that Apple – which is building a massive new campus its own employees nicknamed the Death Star, or more favorably, The Spaceship – should give $100m to improve city infrastructure.
  • Actually, Hillary Clinton Is A Fiscal Conservative -- Look It Up

    05/03/2016 6:44:35 AM PDT · by Cyberman · 35 replies
    The Washington Post ^ | 05/03/2016 | Catherine Rampell
    Suppose you're a hardcore fiscal conservative. You don't give a hoot about social issues, and you don't follow any of this nonsense about identity politics or insiders and outsiders. All you care about is getting the nation's fiscal house in order. Are you sitting down? I hope you’re sitting down. Because the candidate you should vote for might surprise you. According to a new report from the nonpartisan Committee for a Responsible Federal Budget, the most fiscally conservative presidential contender left standing is . . . Hillary Clinton. Seriously....
  • Taxpayer-funded financial aid for immigrant college tuition heads to IL House

    05/03/2016 5:26:22 AM PDT · by KeyLargo · 13 replies
    Illinois Review ^ | May 2, 2016
    Monday, May 02, 2016 Taxpayer-funded financial aid for immigrant college tuition heads to IL House SPRINGFIELD - Two Republican state senators - Christine Radogno and Chris Nybo - crossed the aisle last week to support the Democrats' effort to provide taxpayer-funded financial assistance for undocumented immigrant students. The measure would add Illinois to the five states that grant immigrant students financial aid for college education regardless of their legal status. Already, Illinois is one of 18 states that allows any status immigrants to qualify for lower in-state tuition and set up private college funds. SB 2196 easily passed the Illinois...
  • Why Hillary’s And Bernie’s Tax Hikes On The Rich Are Doomed To Fail

    05/03/2016 4:00:13 AM PDT · by expat_panama · 30 replies
    Investors Business Daily ^ | 5/02/2016 | TERRY JONES
    Democratic presidential candidates Bernie Sanders and Hillary Clinton often assert that the only way to correct wealth inequality in America is to tax the rich at even higher rates. A new study suggests this is false. As part of what she called the “growth and fairness economy,” Hillary Clinton has proposed surtaxes on the wealthy and higher taxes on all capital gains to “shuffle the deck,” as she put it. In the past, she has hammered the rich for being, well, rich. “Economists have documented how the share of income and wealth... ...both Clinton and Sanders would raise rates on...
  • Mail carrier admits stealing $443,000 in tax refund checks

    04/30/2016 2:20:36 PM PDT · by lowbridge · 49 replies
    Cbs ^ | April 29, 2016
    Champagne delivered mail in Pennsauken. Prosecutors say he admitted stealing 72 U.S. Department of the Treasury checks totaling $443,000 and giving them to other people, who weren't named in court documents. Fishman says those people paid Champagne $50 per stolen check in 2014. Each charge carries a maximum penalty of 15 years in prison. Sentencing is Aug. 3.
  • One Top Taxpayer Moved, and New Jersey Shuddered

    04/30/2016 10:36:42 AM PDT · by reaganaut1 · 39 replies
    New York Times ^ | April 30, 2016 | ROBERT FRANK
    Our top-heavy economy has come to this: One man can move out of New Jersey and put the entire state budget at risk. Other states are facing similar situations as a greater share of income — and tax revenue — becomes concentrated in the hands of a few. Last month, during a routine review of New Jersey’s finances, one could sense the alarm. The state’s wealthiest resident had reportedly “shifted his personal and business domicile to another state,” Frank W. Haines III, New Jersey’s legislative budget and finance officer, told a State Senate committee. If the news were true, New...
  • Why Over Half of Prince's Estate Will Go To The Government

    04/29/2016 11:51:58 AM PDT · by OddLane · 42 replies
    The Daily Signal ^ | April 29, 2016 | Rachel Greszler
    It appears that the pop star Prince may have died without a will, leaving behind a multi-million dollar and growing estate. Although Prince has one full sister and five half-siblings, Prince’s family members will not be his biggest heirs. Both the federal government and Minnesota’s state government will assess so-called “death taxes” or estate taxes on Prince’s assets, taking away more than half his estate. Between his physical assets— cash, investments, home, etc.—and his future royalties, Prince’s estate has been estimated to be between $300 and $500 million. If Prince were married, he could have passed on the entirety of...
  • DiCiccio: Phoenix leaders pushing $37M property tax increase

    04/28/2016 8:38:55 AM PDT · by hsmomx3 · 5 replies
    Town of Paradise Valley Independent ^ | April 25, 2016 | Sal DiCiccio
    Phoenix politicians are pushing a $37 million property tax increase. This is right after they pushed a transit tax of $31.5 billion, a water tax increase of $15.3 million that went for pay raises and bonuses, and an airport ride sharing fee of over $8 million annually. This new $37 million property tax increase is a clear example of Phoenix spending more than they need and taking more money from you and your family. First, Phoenix does not have a revenue problem, it has a spending problem. This property tax increase is coming when Phoenix is seeing record budget revenue...
  • Wilton Manors looks to change its health plan for transgender employees

    04/26/2016 11:44:38 AM PDT · by SoFloFreeper · 21 replies
    WSVN-TV ^ | 4/26/16
    ....Wilton Manors city leaders are in talks of expanding their insurance...Currently, gender confirmation surgery is excluded from the city's health plan, causing a financial strain that can often hinder the completion of the process.
  • EXCLUSIVE: Kerry, Heinz Family Have Millions Invested In Offshore Tax Havens

    04/26/2016 6:00:25 AM PDT · by C19fan · 14 replies
    Washington Examiner ^ | April 25, 2016 | Richard Pollock
    Secretary of State John Kerry and his wife Teresa Heinz have invested millions of U.S. dollars through family trusts in at least 11 offshore tax havens, according to an analysis by The Daily Caller News Foundation. The revelation comes on the heels of the release of the Panama Papers, a treasure trove of 11.5 million legal and financial records documenting how some of the world’s richest and most powerful people have used offshore bank accounts to conceal their wealth and avoid taxes.
  • The Clintons are using 5 shell companies to save on taxes in Delaware

    04/25/2016 8:55:14 AM PDT · by TigerClaws · 25 replies
    (Story from April 16.) The Clintons and their family foundation have at least five shell companies registered to the address 1209 North Orange Street in Wilmington, Delaware — which is also home to some 280,000 other companies who use the location to take advantage of the state's low taxes, limited disclosure requirements, and other business incentives. Two of the five are tied to Bill and Hillary Clinton specifically. One, WJC, LLC, is used by the former president to collect his consulting fees. The other, ZFS Holdings, LLC, was used by the former secretary of state to process her $5.5 million...
  • Trump's Schizophrenia on Taxes and Obamacare

    04/24/2016 6:14:25 AM PDT · by Oldeconomybuyer · 47 replies
    The Weekly Standard ^ | April 23, 2016 | By Jeffrey H. Anderson
    Donald Trump was asked this week, "Do you believe in raising taxes on the wealthy?" He replied, "I do. I do - including myself. I do." Yet Trump's own tax plan would cut the highest marginal federal income-tax rate from 39.6 percent to 25 percent. How does this tax plan square with Trump's newly professed support for "raising taxes on the wealthy"? This is similar to Trump's rampant inconsistency on Obamacare. Trump says he's for repealing Obamacare, but he's not for cutting Medicaid which, thanks to the efforts of those like John Kasich, accounts for most of Obamacare's coverage increases....
  • Trump: Oh, Sure, I’ll Raise Taxes

    04/21/2016 7:40:43 PM PDT · by AnalogReigns · 45 replies
    The Daily Wire ^ | Hank Berrien
    Thursday morning, asked on the Today Show whether he believed in raising taxes on the wealthy, Donald Trump, the frontrunner for the GOP nomination for president, gave a reply that illuminated how much of a Democrat in GOP clothing the Orange-Haired One is, replying, “I do, I do.” As time passes, Trump is becoming almost indistinguishable from Bernie Sanders. Daily Wire Editor-in-Chief saw this back in February, in a piece delineating how alike the two men were on numerous policies. For the sake of solely concentrating on their similarities vis-ŕ-vis economic policy, here’s Shapiro’s section on that: They’re both anti-establishment...
  • Kansas governor eyes tobacco bonds for budget fix

    04/21/2016 6:47:00 AM PDT · by C19fan · 8 replies
    Reuters ^ | April 20, 2016 | Mark Kauzlarch
    Kansas Governor Sam Brownback offered options on Wednesday for dealing with sinking revenue for the state's current and next budgets, including the sale of tobacco bonds. With the fiscal 2016 revenue estimated to drop by nearly $94 million and fiscal 2017 revenue expected to be $134.7 million less than previously projected, the Republican governor said Kansas could raise about $158 million through its first sale of bonds backed by its share of a 1998 multi-state settlement with U.S. tobacco companies.
  • The Forgotten History of the Federal Income Tax

    04/21/2016 5:49:30 AM PDT · by HomerBohn · 38 replies
    Freedom Outpost ^ | 4/20/2016 | Susan Frickey
    "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." – The 16th Amendment, Ratified 1913 The birth of the income tax! Prior to 1913, the constitutionally limited responsibilities of the federal government were generally covered by import tariffs. Occasionally, temporary taxes were imposed to pay for wars, but were to be apportioned by the states and could not be direct, personal taxes, according to the Constitution in Article I, sections 2 and 9. W. Cleon Skousen wrote a very...
  • Paying Your Fair Share? 45% Of Americans Pay Zero Income Taxes

    04/19/2016 8:21:27 AM PDT · by SeekAndFind · 38 replies
    IBD ^ | 04/19/2016
    Democrats keep demanding that the rich pay their “fair share” of income taxes. But they never say what fair is. Probably because they know that the rich pay huge amounts while 45% of households pay nothing. The nonpartisan Tax Policy Center has some eye-opening statistics on its site that should silence the “tax fairness” debate, if the numbers were widely known. For example, did you know that the richest 20% of households pay 88% of federal income taxes? Or that this is up from 64.7% the year before Reagan took office? Did you know that 45% of all households pay...
  • Simple Math Shows America Is Headed for an Economic Disaster

    04/18/2016 7:21:40 PM PDT · by george76 · 52 replies
    The Daily Reckoning ^ | March 30, 2016 | Jody Chudley
    Stan Druckenmiller ... when I look at the current picture of expected tax revenues combined with benefits promised to future generations, this is the most unsustainable situation I have seen ever in my career. The disaster that Druckenmiller sees coming for the United States is all about changing demographics and entitlement spending. They don’t add up to a sustainable situation. In 1940, entitlement payments, which include everything from disability payments to Social Security to Medicare, amounted to just over 20% of annual government spending in the United States. Today, entitlement spending has swelled to nearly 70% of the annual federal...
  • Will we ever stop using fossil fuels?

    04/18/2016 4:39:30 PM PDT · by 2ndDivisionVet · 63 replies
    MIT News ^ | February 24, 2016 | Peter Dizikes
    In recent years, proponents of clean energy have taken heart in the falling prices of solar and wind power, hoping they will drive an energy revolution. But a new study co-authored by an MIT professor suggests otherwise: Technology-driven cost reductions in fossil fuels will lead us to continue using all the oil, gas, and coal we can, unless governments pass new taxes on carbon emissions. “If we don’t adopt new policies, we’re not going to be leaving fossil fuels in the ground,” says Christopher Knittel, an energy economist at the MIT Sloan School of Management. “We need both a policy...
  • Is there such thing as “legitimate taxation”?

    04/18/2016 3:42:27 PM PDT · by all the best · 22 replies
    American Vision ^ | September 8, 2014 | Joel McDurmon
    The answer is no. Now let’s explain. Doug Wilson has published an opinion that “taxation can be done right,” by which he means there is legitimate taxation according to the Bible. While I esteem much of Rev. Wilson, and there is tremendous overlap between us in general, I disagree with this sentiment, and I think it is important for the Christian’s overall vision of the future. I offer this intramural essay. Doug makes a distinction between taxation that is without biblical warrant and taxation with biblical warrant, and which we should therefore accept as normative for society. While we would...
  • Why Are Thousands Of Millionaires Fleeing Chicago And Other Major Cities Around The World?

    04/18/2016 1:58:16 PM PDT · by SeekAndFind · 44 replies
    TEC ^ | 04/18/2016 | Michael Snyder
    The elite are fleeing major cities around the globe at a staggering rate. In fact, the Chicago Tribune is reporting that approximately 3,000 millionaires left the city of Chicago alone during 2015. The same study discussed in that Chicago Tribune article found that 7,000 millionaires left Paris, France last year. So why is this happening? Why are thousands of millionaires suddenly packing up and moving away from the big cities? Could it be possible that they have many of the same concerns that “preppers” do about what is coming? For quite a while, I have been writing about how the...
  • 45% of Americans pay no federal income tax

    04/18/2016 1:50:30 PM PDT · by george76 · 49 replies
    MarketWatch ^ | Apr 18, 2016 | Catey Hill
    An estimated 45.3% of American households — roughly 77.5 million — will pay no federal individual income tax ... The top 1% of taxpayers pay a higher effective income-tax rate than any other group (around 23%, according to a report released by the Tax Policy Center in 2014) — nearly seven times higher than those in the bottom 50%. On average, those in the bottom 40% of the income spectrum end up getting money from the government. Meanwhile, the richest 20% of Americans, by far, pay the most in income taxes, forking over nearly 87% of all the income tax...
  • Why Tax Reform Is Forever Doomed

    04/18/2016 9:06:11 AM PDT · by SeekAndFind · 33 replies
    RCM via Washington Post ^ | 04/18/2016 | Robert Samuelson
    WASHINGTON - Almost everyone agrees that America's income tax is too complex. Considering this, you might expect that simplifying the income tax would be a slam dunk. Sure enough, the various presidential candidates have proposed sweeping overhauls. But any agreement is mostly rhetorical. The odds that the next president, whoever it be, will engineer genuine tax simplification are negligible. On this Tax Day, it's worth pondering why. Make no mistake: I think we'd be better off with a simpler system. By this, I mean a system with a broader tax base and lower rates. I'd eliminate most tax preferences and...
  • Tax Day 2016

    04/18/2016 8:06:54 AM PDT · by NOBO2012 · 2 replies
    Michelle Obama's Mirror ^ | 4-18-2016 | MOTUS
    There’s no need to complain about Tax Day.All the money you donate to the federal kitty goes to good use. Well okay, maybe some of it is questionable: ANOTHER TAXPAYER-FUNDED RENEWABLE-ENERGY COMPANY FAILS... Renewable energy giant Abengoa SA filed for bankruptcy protection in the U.S. as the Spanish energy company continues talks with its banks and bondholders to agree on its plan to restructure billions of dollars in debt. – WSJLast November, the Washington Times reported Abengoa had received at least $2.7 billion in federal loan guarantees since 2010 to build several large-scale solar power projects in the United States....
  • Bernie Sanders Releases Tax Returns, Paid At Federal Tax Rate Of 13.5% In 2014

    04/17/2016 8:09:47 PM PDT · by Beave Meister · 9 replies
    Chicks On the Right ^ | 4/16/2016 | Red Dawn
    Did you watch CNN’s Democratic debate Thursday night? I actually did, and get this. I was entertained. Thoroughly entertained. I had a feeling it would be a bit more exciting, especially since Bernie Sanders has been out there questioning Hillionaire’s qualifications. At one point, Dana Bash grilled Hillary on releasing the transcripts of her Wall Street speeches, and it was glorious. “Secretary Clinton, if I may, Senator Sanders keeping bringing up the speeches that you gave to Goldman Sachs. So I’d like to ask you, so you’ve said that you don’t want to release the transcripts, until everybody does it,...
  • House of Representatives Files Amicus Brief in Support of Judicial Watch Taxpayer Lawsuit

    04/17/2016 7:49:19 AM PDT · by george76
    Judicial Watch ^ | APRIL 05, 2016
    ‘The Local Budget Act is a naked and unabashed effort to strip Congress of powers vested in it by Article I of the Constitution, and to circumvent… the one constitutionally-appropriate way to proceed.’ – House of Representatives’ amicus curiae (Washington, DC) – Judicial Watch announced today that on March 31, 2016, the U.S. House of Representatives filed an amicus curiae brief urging a U.S. District Court to deny the D.C. government’s efforts to dismiss a Judicial Watch lawsuit, which seeks to prevent D.C. from illegally expending tax dollars. The House amicus brief was filed in the U.S. District Court for...
  • With help of lawmakers, Illinois public schools now $20 billion in debt

    04/16/2016 3:33:44 PM PDT · by george76 · 15 replies
    Chicago Tribune ^ | 4-16 - 2016 | Diane Rado
    Illinois' public school districts are roughly $20 billion in debt, a staggering figure fueled in part by decades of special deals in Springfield that have given districts exemptions so they can keep borrowing beyond limits set by law. Today, that debt exceeds long-term school borrowing in most other states. It equates to about $10,000 for every Pre-K to 12th-grade public school student in Illinois... All the borrowing is a drain on taxpayers who have to repay the debt, as well as school budgets that must steer billions of dollars annually to principal and interest payments — money that could be...
  • Elizabeth Warren thinks the IRS should fill out your tax returns

    04/16/2016 4:43:08 PM PDT · by facedown · 95 replies
    boston.com ^ | April 13, 2016 | Nik DeCosta-Klipa
    With Monday’s tax filing deadline looming over many Americans’ weekends, Sen. Elizabeth Warren’s new bill may seem like a godsend. The Massachusetts Democrat introduced legislation Wednesday that would allow U.S. taxpayers to have the government do their taxes for them—for free. The conveniently timed “Tax Simplification Act of 2016” would direct the IRS to develop a free, online tax preparation and filing service, using tax information the IRS already has, which Americans could choose to use to have their taxes filed directly with the government, instead of using a third-party service, such as TurboTax.
  • ILLINOIS WILL SOON OVERTAKE NEW JERSEY AS THE STATE WITH THE HIGHEST PROPERTY TAXES

    04/16/2016 3:20:25 PM PDT · by george76 · 34 replies
    Illinois Policy Institute ^ | April 14, 2016 | Austin Berg
    Illinois' 859 local school districts consume nearly two-thirds of the $27 billion in local property taxes collected across the state each year. Illinois has nearly 7,000 units of local government. That’s the highest count of any state in the nation, and the runner-up is not even close. One of those units of government is the Naperville Township Road District, where seven employees maintain less than 20 miles of road at a cost of $116,000 per mile. City officials have said they could maintain the same distance at half the cost, and have moved to take over the road district’s duties...