Keyword: taxes

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  • How lawmakers clip taxpayers

    02/19/2012 5:31:47 PM PST · by Graybeard58 · 9 replies · 1+ views
    Waterbury Republican-American ^ | February 19, 2012 | Editorial
    "When the laws undertake to add ... artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society — the farmers, mechanics, and laborers — who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice." — President Andrew Jackson, 1832 Unless the injustice of those titles, gratuities and exclusive privileges are granted to rich and powerful members of Congress such as Sens. Joseph Lieberman and Richard Blumenthal; in such cases, the humble and impotent are...
  • Proposal for cap on Connecticut gas tax hits speed bump

    02/19/2012 3:47:16 PM PST · by matt04 · 5 replies
    Efforts by state Sen. Len Suzio to get a cap placed on the state’s gross receipts tax for gasoline is being met with strong opposition from the chairman of the legislature’s General Law Committee. State Sen. Paul Doyle, D-Wethersfield, said he doesn’t believe the legislation that Suzio is proposing will result in lower gas prices for motorists. “As co-chairman of the committee that fights to protect consumers, I do not believe the proposal would ease the burden of exorbitant gas prices,” Doyle said. “Let’s not mislead people into thinking this plan is going to bring relief at the pump. History...
  • Tax Foundation Rips Santorum Tax Plan (Grade: D+)

    02/18/2012 11:26:25 PM PST · by JediJones · 195 replies · 1+ views
    The Wall Street Journal ^ | 1/6/2012 | Kristina Peterson
    An antitax advocacy group zinged Republican presidential candidate Rick Santorum’s tax plan, giving him a grade of “D+” grade and the dubious honor of proposing what “may be the worst idea of any of the Republican candidates.” ”The good news is Santorum has gotten more specific about his tax plan since last month when we gave him a D+,” economist William McBride wrote on Thursday. “The bad news is… he’s gotten more specific.” Mr. McBride said the biggest problem with Mr. Santorum’s proposal is the sharply different corporate tax rates he would establish. Mr. Santorum would halve the corporate tax...
  • The History of American Debt:1775-2011

    02/18/2012 1:31:18 PM PST · by orthodoxyordeath · 3 replies
    The Band Of Patriots ^ | August 8, 2011 | Matthew Monos
    Standard and Poor downgraded the credit rating of the USA from AAA to AA+. Add in the fact that they downgraded the credit of institutions such as Freddie Mac and Fannie Mae for being too reliant on government (shocker!), are mulling downgrades of Britain and France, and said they might downgrade the USA again in a few months if the situation doesn't improve, and we're looking at financial free-falls worldwide. This of course has prompted a renewed interest in American debt, since the S&P said that was the main factor in this downgrade. In fact this morning John Chambers, Managing...
  • Congress Releases Details on Payroll Tax Cut and Unemployment Extension

    02/16/2012 11:34:52 PM PST · by 2ndDivisionVet · 5 replies
    Accounting Today ^ | February 16, 2012 | Michael Cohn
    House and Senate negotiators have released a conference committee report spelling out several of the provisions of the payroll tax cut extension legislation, which also extends unemployment benefits and the “doc fix” for Medicare reimbursements for physicians. The bill would extend the 2 percentage point cut in Social Security and Medicare withholding taxes to 4.2 percent through the end of the year. The payroll tax cut provision would put a full $1,000 in the pockets of the typical American family over the course of 2012, according to the office of Senate Finance Committee Chairman Max Baucus, D-Mont. Under current law,...
  • Sen. Sherrod Brown was delinquent on taxes for his D.C. condo

    02/16/2012 8:57:16 PM PST · by rfp1234 · 13 replies
    WASHINGTON — Ohio Democratic U.S. Sen. Sherrod Brown was more than four months delinquent in paying taxes on his Washington, D.C., apartment and had to pay a penalty and interest last week. This was not the first time, records show. Brown also was delinquent in 2006 and 2007 and paid penalties and interest, according to tax records from the District of Columbia. "I was late," he said on a conference call with reporters when asked about the recent delinquency. "I misplaced the bill and I paid it as soon as I found out. I paid a penalty for being late,...
  • Great news: Deal struck on extending temporary tax cut that hasn’t boosted the economy at all

    02/16/2012 9:55:43 AM PST · by SeekAndFind · 12 replies
    Hotair ^ | 02/16/2012 | Ed Morrissey
    Yeah, I know I'm supposed to feel all warm and fuzzy about the fact that Democrats and Republicans didn't play this out to the 11th hour, like they do with every other dispute these days. We're supposed to cheer because the system worked and it produced a bipartisan result in a year that will see precious few of them. Too bad that it sucks money out of an already-ailing trust fund while delivering none of the economic impact promised when we tried it last year:CLICK ABOVE LINK FOR THE VIDEO Congressional negotiators resolved all differences on an agreement to extend...
  • Rick Santorum paid DOUBLE Mitt Romney's tax rate in 2010

    02/16/2012 6:20:22 AM PST · by C19fan · 14 replies
    UK Daily Mail ^ | February 16, 2012 | Staff
    Republican presidential candidate Rick Santorum released four years of federal income tax returns on Wednesday night, showing a sharp rise in his personal wealth spurred by his growing work as Washington-based corporate consultant and media commentator. Santorum's returns show that his federal income taxes rose from 2007, when he paid $167,000, to $310,000 in 2009, then dropped to $263,000 in 2010. During that same period, his annual income surged from nearly $660,000 in 2007 to $1.1 million in 2009 before slipping to $923,000 in 2010. That amounts to an effective tax rate of about 28.5 per cent for the latter...
  • Congressional negotiators reach deal on $150 billion economic plan

    02/16/2012 1:27:19 AM PST · by 2ndDivisionVet · 31 replies
    The Washington Post ^ | February 16, 2012 | Paul Kane
    In a pact early Thursday morning, congressional negotiators gave final approval to an economic plan worth more than $150 billion that would extend a payroll tax holiday and unemployment benefits. A key roadblock was overcome when the lawmakers agreed to require new federal workers to contribute more to their pension plans, clearing the way around 12:30 a.m. for a majority of the House-Senate conference committee to begin signing the deal. The pension provision represented a concession to key Maryland Democrats who, even after prodding from President Obama, did not grant their support until current federal workers were shielded from the...
  • Gallup: 85% of small businesses not hiring (Most cite economy, regulations)

    02/15/2012 12:20:10 PM PST · by SeekAndFind · 25 replies
    Hotair ^ | 02/15/2012 | Ed Morrissey
    Gallup polled small-business owners (value under $20M) about their expansion plans in early January, which for some strange reason didn’t get reported until today. Among those who do not plan to hire — 85% of the entire sample — almost half of all such businesses cited expected costs from health care coverage and government regulation: U.S. small-business owners who aren’t hiring — 85% of those surveyed — are most likely to say the reasons they are not doing so include not needing additional employees; worries about weak business conditions, including revenues; cash flow; and the overall U.S. economy. Additionally, nearly...
  • The Hidden Taxes In Obama's Budget (Sneaky, very sneaky)

    02/15/2012 12:16:33 PM PST · by SeekAndFind
    Zero Hedge ^ | 02/15/2012 | Tyler Durden
    While headlines yesterday crowed and complained of the small rise in the budget and the focus on taxing the wealthy - which admittedly given the peak polarization in political parties is unlikely to actually move into legislation anytime soon - JPMorgan's Michael Cembalest finds perhaps the most controversial part of the proposal hidden deep in the report. While the JPM CIO notes the CBO baseline and alternative scenarios, it is the difference between the $293bn benefit (CBO estimate from last year) and the Administration's new estimate of $584bn that caught his eye as buried on Page 73 of the...
  • What happens when we live off the other guy?

    02/15/2012 11:38:04 AM PST · by landsbaum · 8 replies
    Nearly half of U.S. households receive government benefits. We’ve reached record highs of those relying on government-paid benefits, which is to say, benefits paid for by taxpayers, which is another way of saying redistributed wealth. Which is another way of saying socialism....
  • Obama Budget Raises Taxes on Small Employers, Savers, Families

    02/15/2012 11:02:04 AM PST · by 92nina · 6 replies
    ATR ^ | 2012-02-13 | Ryan Ellis
    President Obama released his FY 2013 budget [Monday] morning. By his own numbers, his budget raises net taxes over the next decade by $1.56 trillion (Table S-9, page 225). As a percentage of the economy, tax revenues would rise all the way to 20.1% of GDP in 2022, far higher than the historical tax revenue average of 18.3% of GDP (Table S-1, page 205). Here are some of the tax lowlights: All 20 of the new or higher taxes in Obamacare are assumed to take place. That means that there will be a 3.8 percentage point surtax on investment income....
  • Obama OMB Admits Obamacare Penalties Are Not Taxes (Obama's OMB admits Obamacare not constitutional)

    02/15/2012 9:41:00 AM PST · by tobyhill · 22 replies
    National Review ^ | 2/14/2012 | Daniel Foster
    Rep. Scott Garrett (R., N.J.) had a nice gambit just now in a hearing with President Obama’s acting OMB director Jeffrey Zients. First he asked Zients if the Obama budget imposes any new taxes on Americans making less than $200,000. When Zients answered that it did not, Garrett followed up by asking if an individual making less than $200,000 a year opted not to carry health insurance, in contravention of the Affordable Care Act, is the fine associated with that decision a tax? After some hemming and hawing, Zients answered that the fine did not constitute an tax.
  • Missing Californians (The Number of Top-Income Californians Have Declined by a Third)

    02/15/2012 7:05:31 AM PST · by SeekAndFind · 34 replies
    American Thinker ^ | 02/15/2012 | Russ Vaugh
    The Sacramento Bee website is reporting that the number of top-income taxpayers in California has declined by a third. In an article in its Capitol Alert section, the Bee says that those Californians with $500,000 and up taxable incomes have declined from almost 150,000 in 2007 to slightly under 100,000 in 2009. The article also notes that the 100,000, representing just over a half percent of the 14.6 million returns, accounted for 18.8 percent of total income reported, but paid 32 percent of all income taxes in 2009. If Governor Jerry Brown wonders where a whole bunch of those making...
  • How Taxing the Rich Harms the Middle Class

    02/15/2012 6:48:25 AM PST · by SeekAndFind · 7 replies
    The American ^ | 02/15/2012 | By Aparna Mathur
    President Obama’s budget speech on Monday expanded on the theme of economic “fairness,” like his State of the Union speech in January. He lectured Americans that if critical steps are not taken, the rise of the middle class will be threatened and disparities between the rich and the rest will continue to grow. A general theme was that taxing the rich would get us a long way towards reducing income inequality. This may be why President Obama failed to extend the promise he made last year to fight for corporate tax reform. Why lower tax rates on “rich” corporations if...
  • (Tax-cheat Timmy) Geithner: Tax hikes must be part of budget (will correct 'fiscal problems')

    02/15/2012 1:42:03 AM PST · by Libloather · 16 replies · 1+ views
    The Hill ^ | 2/14/12 | Peter Schroeder
    Geithner: Tax hikes must be part of budgetBy Peter Schroeder - 02/14/12 01:18 PM ET Treasury Secretary Timothy Geithner told skeptical Republican senators Tuesday that it is simply not possible to correct the nation’s fiscal problems without raising taxes. Geithner defended President Obama’s 2013 budget proposal before the Senate Finance Committee and said the plan is the only option he sees for helping the economy and addressing the deficit without hurting the middle class. "I do not see how you get there if you are unable ... to contemplate and to embrace modest increases in revenue through tax reform," Geithner...
  • Picking Up Obama's Gauntlet on Taxes

    02/15/2012 12:25:49 AM PST · by Cincinatus' Wife · 1 replies
    Wall Street Journal ^ | February 14, 2012 | HOLMAN W. JENKINS, JR.
    ...........Mr.Obama's insincerity on tax reform has been a giant missed opportunity. Mr. Romney is the get-it-done candidate. He could not only point to Mr. Obama's failure to act, but explain why—because it would conflict with the campaign of class resentment that he and his surrogates are so busy denying they intend to run on in the fall. Mr.Romney needs to do something. Mr.Santorum's rise is a telling rebuke—a "conservative" who hails from a blue state and yet who succeeded because he found a natural way to bridge the gap, thanks to his affiliation with unions and hard-hat workers. Yes, his...
  • Proposed Obama budget includes surge in tax hikes (Obama plans tax hikes for EVERYONE)

    02/14/2012 7:53:56 PM PST · by tobyhill · 13 replies
    Fox News ^ | 2/14/2012 | fox news
    President Obama's proposed 2013 budget contains a decade-long surge of tax hikes that, if approved, would affect everything from income to investment to inheritance. The budget blueprint contains roughly $2 trillion in new taxes and fees. When other tax cuts and credits are counted, the net impact from the proposals is still about $1.5 trillion. Though Republicans already are mounting a vigorous campaign against the proposal, many of the tax provisions still could become law unless Congress takes action to stop them. ,,,, But the budget also imposes various fees, such as a hike in the airline "security fee," as...
  • Schoenberg announces support for Rahm's gun registry plan(IL)

    02/14/2012 1:10:59 PM PST · by marktwain · 21 replies ^ | 13 February, 2012 | Susan Du
    Illinois state Sen. Jeff Schoenberg (D-Evanston) has endorsed Chicago Mayor Rahm Emanuel's proposal to create a statewide gun registry in order to decrease gun violence, according to a news release issued Friday. Emanuel proposed requiring gun owners to register each handgun in their possession at a fee of $65 per gun. Currently, Chicago's gun control laws ban weapon sales in the city and prohibit people from taking guns out of their homes. For 28 years Chicago banned gun ownership entirely, until the U.S. Supreme Court overturned that policy in June 2010. Prospective Illinois gun owners must obtain a firearm owner's...
  • Bradley Commission Moves Forward On Citizen Vote On Proposed $32 Wheel Tax (TN)

    02/14/2012 12:38:17 PM PST · by Tennessee Nana · 12 replies
    ClevelandDailyBanner ^ | February 14, 2012 | Tonya Brantley
    A decision was made during the Bradley County Commission work session Monday afternoon to place a resolution to call for a referendum on the question of whether a countywide motor vehicle tax (wheel tax) of $32 should be levied. Commissioner and Education Committee Chairman Jeff Yarber proposed the wheel tax resolution several weeks ago as a solution to funding requests for capital projects by the county school system. The county school system needs an estimated $25.5 million for a new elementary school, improvements and expansion for Walker Valley High School and Lake Forest Middle School and land for a third...
  • Obama: Not Raising Taxes is a Form of Government Spending

    02/14/2012 11:21:09 AM PST · by SaveOurRepublicFromTyranny · 21 replies
    CNS News ^ | February 13, 2012 | Fred Lucas
    Announcing his budget plans for fiscal year 2013 in an address at Northern Virginia Community College in Annandale, Va., President Barack Obama characterized the current income tax rates--signed into law by President Bush a decade ago--as a form of government spending. Essentially, the president said that the federal government "spends" when it does not raise taxes. “Right now, we’re scheduled to spend more than $1 trillion more on what was intended to be a temporary tax cut for the wealthiest two percent of Americans,” Obama said. “We’ve already spent about that much. Now we’re expected to spend another $1 trillion....
  • Obama Proposes Nearly $90 Billion in Tax Hikes on Energy Producers

    02/14/2012 10:27:01 AM PST · by 92nina · 8 replies
    ATR ^ | 2012-02-13 | Christopher Prandoni
    Obama Energy Tax Proposals The President’s FY 2013 budget contains billions in tax increase on energy production and consumption. These taxes will result in higher prices at the pump, increased utility bills, and fewer American jobs as companies flee the U.S. and companies cannot recover their investments. Below is a breakdown of energy taxes Obama put forth in his 2013-2022 budget: [HTML Chart was over 300 words so I could not carry it over.] ATR Recommendations Congress should reject these new tax increases and move to rapidly increase access to domestic energy resources in the Eastern Gulf of Mexico, part...
  • House to Pass Payroll Tax Relief for Rest of 2012

    02/14/2012 8:50:19 AM PST · by 92nina · 9 replies
    ATR ^ | 2012-02-13 | Ryan Ellis
    The U.S. House this week will vote on H.R. 4013, a bill which will continue payroll tax relief for the remainder of 2012. In all of 2011 and through February of 2012, the Social Security payroll tax rate nominally paid by employees has been reduced by two percentage points, from 6.2% to 4.2%. For someone earning $50,000 annually, this has reduced their FICA tax by $1000 over the year. Americans for Tax Reform is supportive of this extension of payroll tax relief: Now is not the time for workers to see their take-home pay decline because their taxes went up....
  • Report: Whitney’s Body FlownTo NJ on Tyler Perry’s Private Jet [Will Obama condemn evil jet owner?]

    02/14/2012 5:35:48 AM PST · by SoFloFreeper · 34 replies ^ | 2/13/2012
    TMZ reports that Whitney Houston‘s body was flown home to Newark, New Jersey on Tyler Perry’s private jet. The film-maker was reportedly in Los Angeles on a press junket for his upcoming film, Good Deeds. When he heard of Houston’s death, he immediately offered his jet as transportation.
  • Kudlow: A King Dollar GOP?

    02/13/2012 5:19:08 PM PST · by Tolerance Sucks Rocks · 22 replies
    GOPUSA ^ | February 13, 2012 | Lawrence Kudlow
    Out on the campaign trail, Fed head Ben Bernanke is an unpopular guy. Mitt Romney and Newt Gingrich have both said they would replace Bernanke, not reappoint him. Rep. Ron Paul would swap the whole Federal Reserve monetary system for a gold-linked dollar, making the yellow metal legal tender. And it was Gov. Rick Perry of Texas, before he dropped out of the race, who said more quantitative easing by the Fed would be "almost treasonous." Republicans in Washington are equally unimpressed by Bernanke. Rep. Paul Ryan recently criticized the Fed for bankrolling our huge budget deficits and thereby accommodating...
  • Taxpayers fleeced in bailout of Senate barbershop ‘institution’

    02/13/2012 1:12:40 PM PST · by HenryArmitage · 7 replies
    The Daily ^ | MONDAY, FEBRUARY 13, 2012 | MARK STRICHERZ
    America’s most distinguished leaders get their hair cut at the Senate barbershop, but taxpayers are the ones really getting clipped. The barbershop ran almost $300,000 in the red last year but received an infusion from Senate coffers that is keeping it in business, the Senate sergeant at arms, Terrance Gainer, told The Daily. A federal bailout isn’t that unusual since the economic downturn, but some senators didn’t even know their salon was in hot water — and don’t think it should be, considering what they pay for a little off the ears. A shampoo, cut and blow dry is $27...
  • White House Economic Adviser: 'We Need a Global Minimum Tax'

    02/13/2012 12:51:04 PM PST · by Sub-Driver · 72 replies
    White House Economic Adviser: 'We Need a Global Minimum Tax' Daniel Halper February 13, 2012 2:41 PM Gene Sperling, director of the White House's national economic council, said today at an official meeting that "we need a global minimum tax": “He supports corporate tax reform that would reduce expenditures and loopholes, lower rates for people investing and creating jobs in the U.S., due so further for manufacturing, and that we need to, as we have the Buffett Rule and the individual tax reform, we need a global minimum tax so that people have the assurance that nobody is escaping doing...
  • Obama budget proposes new security, airline fees (Passengers to pay $32 Billion in stealth taxes)

    02/13/2012 12:32:21 PM PST · by Qbert · 20 replies
    Reuters ^ | Feb 13, 2012 | Reuters
    (Reuters) - Airlines and their passengers would pay up to $32 billion in new air traffic and security fees over 10 years, and grants to big airports would fall sharply under White House budget proposals on Monday aimed at deficit reduction. The Obama administration wants major carriers, their passengers, business jets and airports to pick up more of the costs of air travel and airport improvements that for years have been borne by taxpayers. New fees are sure to trigger strong opposition from airlines and other aviation groups who argue that the industry is already over-taxed and over-regulated. Ideas quietly...
  • Tell your VA Senator to vote NO on SB 631, a bill to hike gas taxes

    02/13/2012 10:36:58 AM PST · by Gopher Broke · 27 replies
    It is amazing how much legislators forget while they are in Richmond. While their constituents are home balancing their budget and making do with much less, the Senate of Virginia is supporting efforts to increase taxes. This week, the Virginia State Senate will consider a bill that will increase the gas tax (SB 631). The sponsor of the bill calls this an “inflation adjustment,” but AFP-VA is calling this a tax increase on hard working families of Virginia. Increasing the gas tax will drive up consumer costs; unfairly hurting the less fortunate and the unemployed. Tell your Legislators you oppose...
  • Mr. Obama, we don't have a tax problem, we have a spending problem

    02/13/2012 9:45:54 AM PST · by Tomhorn · 14 replies
    Fox News ^ | February 13, 2012 | Wayne Allyn Root
    Did you see President Obama's new 2013 budget? It's filled with $1.5 trillion in tax increases for the rich. It appears that the president and his leftist cabal believe we are all stupid. They believe if you tell enough lies, the lies become fact. They spend all day, every day, trying to convince Americans that taxes on the rich are too low.
  • Are Taxpayers: Broken-Hearted or Just Plain Broke? Government Drives Up the Cost of Valentine's Day

    02/13/2012 9:17:37 AM PST · by 92nina · 7 replies
    Cost of Government Center ^ | 2012-02-08 | [Staff]
    Taxpayers are unlucky in love this Valentine’s Day. Of an identified $17 billion in Valentine’s Day related spending on candy, flowers, dinner, jewelry, greetings cards, clothing, and hotels, government composes 33.14 percent of those costs—approximately $5.6 billion in revenues. But how does government love thee? Let us tax the ways…. This year’s average Valentine’s Day spending is estimated to be $126.03 a person, an 8 percent increase in spending since last year. Valentine’s Day spending is subject to income taxes, payroll taxes, corporate income taxes, and other taxes on business activity. Government then includes additional fees, excise taxes, and international...
  • A Swiss Response to American Fiscal Imperialism (America's imperialistic world-wide taxation system)

    02/13/2012 6:19:00 AM PST · by SeekAndFind · 12 replies
    RealClearMarkets ^ | 02/13/2012 | Dan Mitchell
    Switzerland is in the unfortunate position of being bullied and harassed by the U.S. government. The crux of the problem is that the United States arguably has the world's worst tax system for international activity, and this creates conflict with other nations, particularly ones that have good tax laws that attract investment. This has resulted in a number of different attacks against Swiss sovereignty. On the multilateral front, the Obama Administration is actively supporting the anti-tax competition project of the Organization for Economic Cooperation and Development. On the unilateral front, the United States is imposing onerous laws on the entire...
  • President Obama's budget meets early GOP skepticism

    02/12/2012 3:11:04 PM PST · by Blood of Tyrants · 9 replies
    FoxNews ^ | 2/12/12 | Unknown
    Drawing on $1 trillion in deficit reductions already negotiated in last summer's debt ceiling deal, President Obama's next fiscal year budget -- out Monday -- will call for an additional $1.5 trillion in spending cuts to go with $1.5 trillion in new taxes on corporations and high-income earners. The $4 trillion, 10-year spending plan -- the last Obama budget proposal before the presidential election -- uses savings from the Iraq and Afghanistan military withdrawals to drive down the deficit, pledges $476 billion over six years for infrastructure projects, $350 billion in short-term stimulus-style spending for job creation and $60 billion...
  • Exclusive: Obama to pitch lower corporate tax

    02/10/2012 4:27:02 PM PST · by Hunton Peck · 12 replies
    Reuters ^ | Fri Feb 10, 2012 6:47pm EST | Kim Dixon
    President Barack Obama will call for cutting the top 35 percent corporate tax rate as early as this month, according to two sources close to the administration. The president is likely to propose a rate closer to an average of that seen in peer nations, the sources said. This would jibe with remarks made last year by Treasury Secretary Timothy Geithner, who suggested the United States should be moving to a rate more in line with its major trading partners in the high 20-percent range. Obama outlined tax measures - including closing tax loopholes for companies that move facilities and...
  • Tilting against income taxes

    02/10/2012 3:35:51 PM PST · by Graybeard58 · 9 replies
    Waterbury Republican-American ^ | February 10, 2012 | Editorial
    According to a Jan. 31 Associated Press report, the notion of eliminating or dramatically reducing state income taxes is gathering steam. The AP reported that in Idaho, Kansas, Maine, Missouri, Ohio, Oklahoma and South Carolina — all but one of which elected a Republican governor in 2010 — this idea is getting a serious look. Currently, only nine states lack an income tax. Until 1991, Connecticut was income-tax-free as well. Considering what has happened in the Constitution State since then, one really can't blame those considering repeal. In '91, Gov. Lowell P. Weicker Jr. and the legislature enacted Connecticut's first...
  • OK Gov. Mary Fallin Releases Bold Tax Reform Plan

    02/10/2012 10:07:04 AM PST · by 92nina · 7 replies
    ATR ^ | 2012-02-07 | Will Upton
    Oklahoma Governor Mary Fallin, in her State of the State Address, outlined a bold plan for tax reform focused on reducing rates and consolidating Oklahoma’s seven tax brackets. The plan would end Oklahoma’s complicated seven bracket income tax structure that begins taxing on the first penny any Oklahoman earns, instead replacing the structure with three brackets – Oklahoman’s making below $15,000 a year would pay a 0-percent rate, those making under $35,000 would pay a 2.25-percent rate, and those making $35,000 and above would pay a 3.5-percent rate. The Tax Foundation ranks Oklahoma as 38th in the nation in terms...
  • (US) House skips town as tax deadline looms

    02/09/2012 12:28:14 PM PST · by Responsibility2nd · 5 replies
    Politico ^ | 02/09/2012 | By JAKE SHERMAN and SEUNG MIN KIM |
    Taxes are set to go up on 160 million Americans in a few weeks. But there’s little sign of urgency — let alone progress — coming out of Washington. House lawmakers dashed out of town Thursday for a four-day weekend, but not before engaging in another round of sniping. Meanwhile, the clock continued to tick toward the end-of-month expiration of the 2 percent payroll tax holiday. Democrats formally rejected two GOP measures to rework unemployment insurance – provisions that Republicans say are needed to gain their support to extend the tax credit. One tweak would force people who receive unemployment...
  • The Vote Pump

    02/09/2012 12:14:40 PM PST · by Attention Surplus Disorder · 1 replies
    PJTV ^ | Jan 27, 2012 | Bill Whittle
  • GOP targets child tax break for illegal aliens

    02/09/2012 10:06:45 AM PST · by Bill Buckner · 18 replies ^ | February 9, 2012 6:57 am | By Andrew Taylor
    WASHINGTON (AP) - Republicans are looking to deny child tax credits to illegal immigrants — refund checks averaging $1,800 a family — in an effort that has roused anger among Hispanics and some Democratic lawmakers. The proposal, which would require people who claim the federal credit to have Social Security numbers to prove they're legal workers, is being offered as a way to help pay for extending the Social Security tax cut for most American wage-earners. It would trim federal spending by about $10 billion over a decade. .... Says Leticia Miranda, senior policy adviser of the National Council of...
  • Washington Footing the Cell Phone Bill for Millions of Low Income Americans

    02/09/2012 6:46:26 AM PST · by C19fan · 51 replies
    Time ^ | February 8, 2012 | Brad Tuttle
    Last year, a federal program paid out $1.6 billion to cover free cell phones and the monthly bills of 12.5 million wireless accounts. The program, overseen by the FCC and intended to help low-income Americans, is popular for obvious reasons, with participation rising steeply since 2008, when the government paid $772 million for phones and monthly bills. But observers complain that the program suffers from poor oversight, in which phones go to people who don't qualify, and hundreds of thousands of those who do qualify have more than one phone.
  • Taxpayer Money Used To Maintain Million-Dollar Yacht

    02/09/2012 8:25:31 AM PST · by SZonian · 11 replies
    CBS Channel 2 ^ | 6 February, 2012 | David Goldstein
    LOS ANGELES (CBS) — With the city going broke you may be surprised to find out that Los Angeles is the proud owner of a million dollar yacht and it is about to undergo hundreds of thousands of dollars in renovations at taxpayer expense. As the head of the Port of Los Angeles raced down the hall, they tried to block our camera and dodged our questions, not wanting to talk about a yacht owned by the port, which is a city agency. But the mayor said that it is not what we think. “It’s not a yacht. It’s a...
  • Caterpillar won't build North American plant in Illinois

    02/09/2012 6:52:11 AM PST · by 1rudeboy · 33 replies
    PEORIA -- Caterpillar Inc. will not be building its new North American plant anywhere in the state of Illinois, officials with the company told local leaders Tuesday, with part of the reason being continued concerns about the business climate in the state. The company will instead focus on a location closer to its division headquarters in Cary, N.C., Peoria County officials were told in an email sent to them shortly after the close of business and later obtained by the Journal Star. The plant stood to bring with it from Japan roughly 1,000 jobs manufacturing track-type tractors and mini hydraulic...
  • Pension reform down, taxes up

    02/08/2012 2:15:03 PM PST · by landsbaum · 3 replies
    Two sweeping public employee pension reform measures won’t be placed on the November ballot, as their backers couldn’t raise the $2 million or so to mount petition drives for either, it was announced today. And if you think that’s bad, consider the fact that three huge tax increase measures are likely to be on the ballot, as our editorial today notes...
  • WI: Unions ask Democrats in Walker recall to make veto pledge (Falk signs)

    02/08/2012 1:04:16 PM PST · by MNlurker · 31 replies
    JS Online ^ | 2/8/2012 | Jason Stein
    Union leaders are asking Democratic candidates for governor to veto the next state budget if it doesn't restore collective bargaining for public workers and at least one leading candidate - Kathleen Falk - has agreed, participants in the private meetings say.
  • Dependency Index Surges 23% Under President Obama

    02/08/2012 10:33:59 AM PST · by Hunton Peck · 11 replies
    Investors Business Daily ^ | 2/8/2012 | JOHN MERLINE
    The American public's dependence on the federal government shot up 23% in just two years under President Obama, with 67 million now relying on some federal program, according to a newly released study by the Heritage Foundation. The conservative think tank's annual Index of Dependence on Government tracks money spent on housing, health, welfare, education subsidies and other federal programs that were "traditionally provided to needy people by local organizations and families." The increase under Obama is the biggest two-year jump since Jimmy Carter was president, the data show. The rise was driven mainly by increases in housing subsidies, an...
  • Illegal Immigrants Pay Income Tax, Won't Get Deported Says Initiative

    02/08/2012 10:34:05 AM PST · by moonshinner_09 · 20 replies‎ ^ | Feb 08, 2012 | Brooke Holmquist
    SACRAMENTO, Calif- A new tax proposal could be the answer to our state's budget mess. The proposal? Tax illegal immigrants. The people behind the initiative said they can get illegal immigrants to pay income taxes, but first the Governor must get a promise from the federal government, it won't go after anyone here illegally and is part of the program. "Trying to get the federal government to not spend resources on those folks who are filing and paying I don't know why that would come about, I would suspect some sort of political motivation in Sacramento visa vie Washington." Attorney...
  • California voters may face triple tax-hike threat

    02/08/2012 9:50:33 AM PST · by landsbaum · 16 replies
    The Orange County Register ^ | 2-8-2012 | Orange County Register editorial boarad
    It's not good when people want to raise taxes. But, ironically, it may turn out to be good that so many different people want to raise taxes in California. It appears increasingly likely that three competing tax initiatives will appear on the November ballot, which could result in voters rejecting them all. We don't often agree with Gov. Jerry Brown, who is pushing one of the three tax increases. But we do agree with the governor that several initiatives on the same ballot could confuse voters and divide the pro-tax vote, resulting in none of them passing. The difference is...
  • When Is a Tax Cut Not a Tax Cut?

    02/08/2012 6:49:26 AM PST · by SeekAndFind · 8 replies
    American Thinker ^ | 02/08/2012 | Henry Percy
    When it spawns a new tax. Remember last December when our public "servants" in Washington "gave" working folk tax relief in the form of a payroll tax holiday? Yay! An early Christmas! Thank you Santa! Well, they needed to "pay" for this generosity somehow, so our dear Congresscritters and president devised a brand new tax--sorry, fee--on home mortgages originating from Fanny Mae and Freddy Mac, or about 90% of all new mortgages. Let's look at some of the salient features of this political sleight-of-hand: •The fee is not broken out as a separate line item in the loan paperwork, it's...
  • Newt, Nancy Pelosi and the Nadir of American Politics

    02/07/2012 4:50:17 PM PST · by billflax · 31 replies
    Forbes ^ | 02/07/2012 | Bill Flax
    Nowhere is the haughtiness of American politics better displayed than with our dueling former Speakers. The latest love spat between Newt Gingrich and Nancy Pelosi illuminates America’s sorry political state. She keeps coyly insinuating she knows something and will time its release for maximum damage. It appears Mr. Gingrich is finished anyway, and I’m no fan. His infidelities trouble me. His overarching concern seems to be Newt Gingrich, a not uncommon trait in politicians, but hardly the attribute of a transcendent leader. His prior associations with Mrs. Pelosi promoting Cap and Trade and frequent policy flip-flops reveal an unscrupulous opportunist....