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Keyword: taxes

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  • Is It Time to Repeal FATCA?

    04/27/2017 8:16:16 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | April 27, 2017 | Veronique de Rugy
    I've previously argued that the Trump administration should stop funding the Organization for Economic Cooperation and Development because of its advocacy of higher taxes and tax harmonization. At the time, I was told that my position could be perceived as hypocritical because our government is responsible for the adoption and enforcement of the hideous Foreign Account Tax Compliance Act. Let me address this omission. FATCA, which was passed in 2010 by a Democratic Congress and enacted by President Barack Obama, requires law-abiding Americans with legitimate bank accounts outside the country and foreigners working in the United States to turn over...
  • Construction stocks could rally as California's $52 billion roads plan clears major hurdle

    04/27/2017 8:04:46 AM PDT · by Tolerance Sucks Rocks · 18 replies
    CNBC ^ | April 7, 2017 | Jeff Daniels
    California's $54 billion plan to fix roads and fund highway improvements cleared a major hurdle late Thursday, passing in the state legislature and setting the stage for what could become a massive spending spree. Positive comments last week from analysts about the state transportation plan sent shares of several construction-related companies sharply higher. Some of them continued to trend higher this week and with passage in both houses of the legislature it's possible they could rally Friday. Analysts have suggested beneficiaries of the state spending could include Summit Materials, a construction materials producer, and AECOM, an engineering firm. Summit's stock...
  • TRUMP’S PROPOSED TAX PLAN COULD COST THE GOVERNMENT $6 TRILLION

    04/26/2017 3:45:53 PM PDT · by lowbridge · 84 replies
    Newsweek ^ | April 26, 2017 | Graham Lanktree
    President Donald Trump will outline major tax cuts for Americans Wednesday that could take trillions of dollars away from the federal government over the next decade and lump it on to the national debt. The president will be "pretty broad in the principles" of tax reform that he lays out with more details coming in the summer, his director of legislative affairs, Marc Short, told the Associated Press. But what it boils down to is major hikes in the amount people can deduct from their taxes and large cuts for small businesses and corporations.
  • White House Begins Release of Tax Plans: Simplify, Eliminate AMT, Death, Obamacare Taxes

    04/26/2017 12:46:54 PM PDT · by Enlightened1 · 96 replies
    Breitbart ^ | 04/26/17 | MICHELLE MOONS
    Details of the Trump Administration tax reform plans began trickling out Wednesday, revealing plans to massively simplify the tax system, adjust tax rates for individuals and businesses, and eliminate several taxes including the AMT, inheritance, and specific Obamacare taxes. During the 1:30 p.m. White House press briefing, a document was provided to journalists with the following Trump Administration tax reform framework: 2017 Tax Reform for Economic Growth and American Jobs The Biggest Individual and Business Tax Cut In American History Goals For Tax Reform Grow the economy and create millions of jobs Simplify our burdensome tax code Provide tax relief...
  • Lawmakers debate return of tolls to Connecticut’s highways

    04/26/2017 8:06:55 AM PDT · by Tolerance Sucks Rocks · 25 replies
    FOX 61 ^ | April 18, 2017 | Jenna DeAngelis and Jeevan Vittal
    HARTFORD – Toll talk is back at the State Capitol. Some lawmakers say it will drive billions into the state over the next two decades and others want to put the brakes on the idea.At a hearing, Monday, the proposal to bring electronic tolls to Connecticut highways was discussed, with public comment both for and against it.State accountants said the way Connecticut funds transportation will no longer be sustainable in the next four years and a new revenue source is needed.“This doesn't make any sense at all," State Sen. Toni Boucher said. "This is just another name for another tax...
  • State Should Add Interstate Tolls

    04/26/2017 7:18:45 AM PDT · by Tolerance Sucks Rocks · 27 replies
    Urban Milwaukee ^ | April 24, 2017 | Robert W. Poole, Jr.
    Wisconsin’s highways are seriously underfunded. According to the Wisconsin Department of Transportation’s Transportation Fund Solvency report, spending only the $28 billion projected to be available over the next decade will lead to double the number of highway miles in “poor” condition — and will preclude even planning any highway expansions for nearly 40 years. Borrowing enough to spend $31 billion would slightly reduce the amount of “poor” highway miles but still would preclude planning any highway expansions until 2040. But a second WisDOT report offers a way out. Extensive research done last year for the DOT by the consulting firm...
  • Flush with highway cash, Texas still looking for toll options

    04/26/2017 5:16:58 AM PDT · by Tolerance Sucks Rocks · 18 replies
    The Houston Chronicle ^ | April 21, 2017 | Dug Begley
    Texas is spending record amounts on transportation, but lawmakers worried it is not enough are considering extending a controversial program that’s helped spread tollways through some of the state’s largest areas. A bill approved this week by a House committee would give the Texas Department of Transportation a chance to add six additional projects, including the widening of Interstate 45 north of I-10 and a long-planned Hempstead Tollway, meant to relieve traffic on U.S. 290 with the potential for a commuter rail corridor. The bill, by state Rep. Larry Phillips, R-Sherman, would also allow TxDOT or regional officials the chance...
  • Business-Friendly States Are Growing at the Expense of Those that Tax and Spend

    04/22/2017 7:15:10 PM PDT · by SeekAndFind · 19 replies
    National Review ^ | 04/22/2017 | Jonathan Williams
    The tenth edition of the Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index has just been released, and once again, Utah was found to have the best economic outlook of any state in the nation. The rankings are based on 15 equally-weighted economic policy variables, including tax rates, labor policy, and regulatory climate. They continue to show that states valuing economic freedom and competitiveness outperform states adhering to the tax-and-spend model, with state economic policies having a substantial effect on where businesses and individuals choose to set up shop. Taxes matter for economic competitiveness. People and businesses often...
  • A Bull Market with Momentum Starts this Wednesday?

    04/22/2017 7:14:35 PM PDT · by ShivaFan · 13 replies
    opinion | 04-22-2017 | ShivaFan
    President Trump told The Associated Press on Friday that he intends to release a tax reform plan next week that includes a "massive tax cut" for businesses and individuals. This is what I have been waiting for and have been building my portfolio since December on this hope. I was very concerned when the "Freedom" Caucus damaged the momentum by not accepting reality and being hardliners who could not wait to stage in the required changes needed in the name of what Americans have their hopes in - jobs and the economy. My position is the DOW already "priced in"...
  • Presidential Executive Order on Identifying and Reducing Tax Regulatory Burdens

    04/22/2017 8:45:32 AM PDT · by TaxPayer2000 · 6 replies
    WhiteHouse.gov ^ | April 21, 2017 | President Donald J. Trump
    EXECUTIVE ORDER - - - - - - - IDENTIFYING AND REDUCING TAX REGULATORY BURDENS By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. The Federal tax system should be simple, fair, efficient, and pro-growth. The purposes of tax regulations should be to bring clarity to the already complex Internal Revenue Code (title 26, United States Code) and to provide useful guidance to taxpayers. Contrary to these purposes, numerous tax regulations issued over the last several years have effectively increased...
  • Communist Surges in French Election [semi-satire]

    04/21/2017 4:53:31 PM PDT · by John Semmens · 4 replies
    Semi-News/Semi-Satire ^ | 23 Apr 2017 | John Semmens
    Jean-Luc Mélenchon, the joint candidate of the French Communist Party and the Unbowed France political movement, is surging in the polls following his pledge to "raise taxes on the rich to 100% and gut the goose that lays the golden eggs for the benefit of the working class." "The idea that anyone has the right to withhold anything from the people and their representative, the state, is a pernicious doctrine we must exterminate," Mélenchon said. "For too long progressives have held back from this obvious truth and solution to society's problems. When everything is thrown into the common pot and...
  • Solar Company Gets $25 Million In Taxpayer Subsidies, Goes Bankrupt

    04/21/2017 8:56:30 AM PDT · by rktman · 30 replies
    dailycaller.com ^ | 4/20/2017 | Andrew Follet
    Solar company Suniva Inc. filed for bankruptcy Wednesday after receiving millions in government subsidies to manufacture solar panels. Suniva blamed its bankruptcy on competition from cheap Chinese-made solar panels, but the company received about $20 million in support from federal and state taxpayers, according to the Atlanta Journal-Constitution. “For many years, Chinese manufacturers of solar cells have benefited from favorable, state-sponsored financing and lower labor costs, allowing them to flood the United States market for solar cells and modules with cheap imports,” David Baker, the company’s restructuring officer, said in a statement. “This has negatively impacted manufacturers based in the...
  • Taxpayer-Funded Duck Penis Researcher Now Studying Whale Penises

    04/21/2017 6:00:50 AM PDT · by kevcol · 34 replies
    Washington Free Beacon ^ | April 21, 2107 | Elizabeth Harrington
    A leading researcher on a ridiculed taxpayer-funded study of duck penises is now using her expertise on orca whales and is going to the "March for Science" to protest budget cuts. Patricia Brennan, a visiting lecturer at Mount Holyoke College in Massachusetts, worked on the duck penis study that received $384,949 from the National Science Foundation, a grant that was funded through the 2009 stimulus package. The study looked at the differences in the corkscrew-shaped penises of ducks.
  • Trump to order U.S. Treasury to delve into taxes, post-crisis reforms

    04/20/2017 7:20:09 PM PDT · by Innovative · 12 replies
    Reuters ^ | Apr. 20, 2017 | Lisa Lambert
    U.S. President Donald Trump will order the Treasury on Friday to find and reduce tax burdens and review post-financial crisis reforms that banks and insurance companies have said hinder their ability to do business. A White House official said on Thursday that Trump will issue an executive order directing the Treasury on the tax issues. He will also issue two memoranda asking for reviews of two parts of the 2010 Dodd-Frank Wall Street reform law - the Orderly Liquidation Authority that sets out how big banks can wind down during a crisis and the Financial Stability Oversight Council (FSOC), which...
  • De Blasio Brags About New York Cigarette Price Floor Being Raised To ‘Highest Price In The Country’

    04/20/2017 5:07:21 AM PDT · by kevcol · 65 replies
    Washington Free Beacon ^ | April 19, 2017 | Charles Fain Lehman
    New York City Mayor Bill de Blasio announced Wednesday that cigarette prices in the city would go up $2.50 to $13 which, de Blasio bragged, would be "the highest price in the country." . . . Council Member Fernando Cabrera, who introduced the bill to create the licensing requirement for e-cigarette retailers, described the proposal as "a major step to limit the use of e-cigarettes, which are dangerous nicotine delivery systems that can lead to nicotine and potentially drug addiction."
  • Colorado’s Abusive, Intrusive, Counterproductive, Sacred Cow

    04/19/2017 11:19:45 AM PDT · by smashtheleft · 3 replies
    insurgenttribe.com | 4/19/2017 | Shawn Mitchell
    Among Colorado state government policies, probably none is more hated and criticized but more entrenched and unassailable than the Business Personal Property Tax. That levy amounts to government’s demand that businesses pay the state an annual ransom based on the value of everything they own that isn’t real estate. It’s an irrational tax based on nothing more than ownership of objects that do not drive any particular need for government services. The accidental or deliberate genius that protects the Business Personal Property Tax, or BPT as insiders call it, is that the majority of its revenues go to the local...
  • Ryan video: We need to simplify the tax code so you could file on a postcard

    04/19/2017 9:44:09 AM PDT · by Sean_Anthony · 31 replies
    Canada Free Press ^ | 04/19/17 | Dan Calabrese
    An idea so great . . . we've heard it many times before. Now will someone please make it happen? Not remarkable: A Republican officeholder says the tax code should be simplified to the point where you could file your taxes on a postcard. We’ve been hearing this since the days of Ronald Reagan at least (maybe people were saying it before that but I would have been too young to remember), and it’s one of the few policy ideas that Republicans of all stripes can agree on, at least in theory. That said, no one has ever advanced a...
  • A Tax Reform Plan That May No Longer Work

    04/19/2017 6:12:53 AM PDT · by Kaslin · 46 replies
    Townhall.com ^ | April 19, 2017 | Terry Jeffrey
    My father, who was born in 1922 and lived his teens and early twenties during the unfortunate reign of Franklin Delano Roosevelt, whimsically embraced a tax reform plan that he sardonically explained to me once or twice during his hard-working life. The first step in this plan was to abolish the federal system of withholding taxes from a worker's paycheck -- a system enacted in 1943 by Roosevelt and a Democratic Congress. FDR wanted not only to limit the size of an individual's income, but also to seize a large share of it before the individual could lay his own...
  • Report: Taxpayers Potentially Paid Thousands of Union Officials

    04/19/2017 5:48:28 AM PDT · by kevcol · 6 replies
    Washington Free Beacon ^ | April 19, 2017 | Bill McMorris
    Taxpayers spent $162.5 million on federal employees performing union activities in 2014, according to the Office of Personnel Management's most recent data. The Competitive Enterprise Institute used official budget documents and Freedom of Information Act requests to validate how many federal employees worked under such conditions . . . The union workers included "nurses, therapists, pharmacists, a physician, and even a prosthetic limb specialist," according to Hice. "Rather than helping our heroes, these individuals spend all their time engaging in union activities such as collective bargaining, filing complaints or grievances, and even grassroots lobbying," Hice said. "This is unacceptable and...
  • Why Does It Cost $409 Billion To Figure Out What We Owe In Taxes?

    04/18/2017 3:44:24 AM PDT · by IBD editorial writer · 29 replies
    Investor's Business Daily ^ | 4/17/2017 | Staff
    Tax Reform: If President Trump wants to drain the swamp, the best place to start is with the tax code, which is so complicated that Americans spend billions of hours and hundreds of billions of dollars just trying to figure out how much they owe. The IRS instructions for filing out the 1040 form include a box near the back that estimates how much time it takes to fill that one form out. This year, it's 15 hours. That's a 67% increase from 1988. This year, the instruction booklet runs 241 pages. In 1988 it was fewer than 80. The...