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Keyword: taxes

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  • Debt and Taxes and Perdition

    11/22/2017 11:28:17 PM PST · by Oshkalaboomboom · 4 replies ^ | Nov 23, 2017 | Andrew Napolitano
    Should the government borrow against the future? Should it guarantee higher taxes for your children and grandchildren in return for lower taxes for you? If government's moral legitimacy depends on the consent of the governed, as Thomas Jefferson argued in the Declaration of Independence, can the federal government morally compel those who haven't consented to its financial profligacy -- because they are not yet born -- to pay higher taxes? These questions are at the base of the debate -- such as it is -- in Congress these days over the so-called Republican tax reform plan. But you will not...
  • Seattle's Income Tax on 'the Rich' Has Collateral Damage: The Poor

    11/22/2017 11:22:18 AM PST · by Kaslin · 24 replies
    American ^ | November 22, 2017 | Brian T. Hodges
    Seattle’s City Council made national headlines earlier this year when it enacted a city income tax aimed at “high earners.” Immediately, politicians crowed that they had planted a flag of “resistance” to the forces of “Trumpism.” In a court hearing last week, the city defended its war on wealth against several legal and constitutional challenges. The briefing from both sides exposes an inconvenient reality for the levy’s defenders: its real, ultimate victims aren’t necessarily the plutocrats they claim to be targeting. In fact, just the opposite. Some background: there are few precedents from other parts of the country for a...
  • As GOP Looks to Eliminate State Tax Deduction, New Jersey Democrat Wavers on Millionaires Tax

    11/21/2017 12:21:42 PM PST · by Tolerance Sucks Rocks · 21 replies
    The Daily Signal ^ | November 20, 2017 | Rachel del Guidice
    New Jersey is potentially holding off hiking its income tax due to the possibility of the state and local tax deduction being eliminated in the GOP tax plan, according to the president of the New Jersey Senate. “I’m actually very concerned for the people of this state if this Trump tax happens, and I think we’re going to have to re-evaluate everything once that happens,” Senate President Steve Sweeney said Nov. 15 in reference to hiking the state’s tax rate on the highest earners from 8.97 percent to 10.75 percent. The Senate tax plan, which was voted out of the...
  • States ranked by claims for state and local tax deductions

    11/20/2017 4:42:05 PM PST · by SkyPilot · 323 replies
    AP and ABC News ^ | 18 Nov 17 | AP Staff
    The percentage of federal individual income tax filers claiming a deduction for state and local taxes paid in 2015, ranked by state: 1. Maryland: 45.7 percent 2. Connecticut: 41.3 percent 3. New Jersey: 41.2 percent 4. Virginia: 37.3 percent 5. Massachusetts: 36.9 percent 6. Oregon: 36.0 percent 7. Utah: 35.3 percent 8. Minnesota: 34.7 percent 9. New York: 34.5 percent 10. California: 34.4 percent 11. Georgia: 32.8 percent 12. Rhode Island: 32.8 percent 13. Colorado: 32.5 percent 14. Delaware: 31.6 percent 15. Illinois: 31.3 percent 16. Wisconsin: 31.0 percent 17. New Hampshire: 30.9 percent 18. Washington: 29.9 percent 19. Iowa:...
  • Just How Much Did Cliven Bundy Actually Owe? See The Document For Yourself - It Wasn't Millions

    11/20/2017 1:47:30 PM PST · by ReformedMedia · 27 replies
    The Washington Standard ^ | 11-20-2017 | Tim Brown
    The trial of Cliven, Ammon, and Ryan Bundy, along with Ryan Payne got underway, we reported on bombshells that were dropped by government witness Mary Ann Rugwell (my apologies for misspelling her name in the previous report), in which she testified that the Bureau of Land Management was not only supposed to merely round up the cattle and give them back to the Bundys, but that Cliven only owed $8,815 in trespass fees over ten years, not millions. Just so we're clear, even Fox News continues promoting the narrative that the Bundys owe millions to the government. Take a look...
  • Everyone Should Contribute

    11/20/2017 5:06:31 AM PST · by NOBO2012 · 22 replies
    MOTUS A.D. ^ | 11-20-17 | MOTUS
    Apparently a head charge for attending Grandma’s Thanksgiving dinner is now trending. Lmao y’all really don’t understand this $30 thanksgiving plate thing. My aunt charges us and cooks everything and we just eat.— Barty Crouch JEvr. (@beetaylora) November 1, 2017 Some have given this idea a thumbs down but it looks like up-votes are trending among progressives. They say it’s not fair for one family to do all the work and pay all the freight; they think everyone should contribute. Too bad they don’t feel that way about taxes.If they treated Thanksgiving the way they treat taxes your rich uncle...
  • Nebraska graduate students concerned about provision in House tax bill

    11/19/2017 5:33:48 AM PST · by conservativehusker · 27 replies
    Lincoln Journal Star ^ | Nov 16, 2017 | CHRIS DUNKER Lincoln Journal Star
    Graduate students at the University of Nebraska and other universities around the country are raising concerns over one provision of the broader tax overhaul approved on a party-line vote in the House of Representatives on Thursday. Tuition waivers offered to graduate students and those in doctorate programs are not taxed as income under current tax laws, but the bill introduced by House Republicans would remove that exemption. If that provision remains intact after Senate consideration, graduate students receiving a tuition waiver — about 0.05 percent of the U.S. population — would essentially be taxed on money they never receive. Brandy...
  • Patients at this mental hospital may have doomed a city’s sales tax measure

    11/18/2017 2:56:35 PM PST · by mac_truck · 31 replies
    Fresno Bee ^ | Nov 15, 2017 | Rory Appleton
    A tightly contested ballot measure seeking to impose a 1-cent sales tax on Coalinga residents apparently failed by just 33 votes, and patients at Coalinga State Hospital are taking credit for helping to defeat it. A current patient, a former patient who now represents the patients as part of an informal political lobbying group, and Coalinga Mayor Nathan Vosburg have confirmed that patients shared their intentions to oppose the sales tax, which was needed to save 23 city jobs, unless the city could convince them otherwise. When that didn’t happen, the patients apparently doomed the measure, which failed 578 votes...

    11/17/2017 6:51:20 PM PST · by lasereye · 45 replies
    Powerlineblog ^ | 11/17/2017 | John Hinderaker
    In the 1980s, the Democrats reviled President Reagan’s tax cuts as “trickle-down economics”–a phrase they themselves had invented many years before. But the Reagan tax cuts produced the greatest boom in America’s modern history. The results were so sensational that Reagan carried 49 states when he ran for re-election in 1984. That shut the Democrats up for a while, but bad ideas never go away forever. The Democrats are now trying to revive their “trickle-down economics” smear. In today’s White House press briefing, an unidentified reporter asked Dr. Kevin Hassett, Chairman of the Council of Economic Advisers, about the tax...
  • The Guy on Tucker right now -Taxpayer Harassment

    11/16/2017 5:32:17 PM PST · by Rome2000 · 36 replies
    Freak trying to jsutify the RAPE of the MIDDLE CLASS
  • Segerblom calls for higher taxes, greater county control of CCSD — VIDEO

    11/16/2017 5:26:04 PM PST · by BackRoads775 · 4 replies ^ | November 16, 2017 - 12:13 am | By Victor Joecks
    Sen. Tick Segerblom, D-Las Vegas, is running to represent District E on the Clark County Commission, but he’s also got one eye on the Clark County School District. Segerblom wants to increase the sales tax to boost education funding and have the County Commission take control of the School Board. Segerblom made his comments while appearing on Nevada Politics Today.
  • UC regents chastise UC President Janet Napolitano for approval of interference in state audit

    11/16/2017 4:32:39 PM PST · by BackRoads775 · 9 replies ^ | 11/15/2017 | By Teresa Watanabe•
    University of California regents meeting on Thursday admonished UC President Janet Napolitano for agreeing to a plan that led to interference in a state audit on the operation of her office. “Her decision and then follow-on actions of her direct reports reflect negatively on the University of California community, which is committed to the highest ethical standards in furthering the University’s mission of teaching, research and public service,” board chairman George Kieffer said in a statement after the regents met behind closed doors for nearly five hours.
  • A Moving Experience

    11/16/2017 6:36:42 AM PST · by Kaslin · 17 replies ^ | November 16, 2017 | Cal Thomas
    SAN FRANCISCO -- Evidence that when Democrats rule taxes are never high enough can be found at any gas station in this once politically competitive state. Last month, the California gas tax was raised 12 cents a gallon. Regular gas at some stations is again approaching, and in some cities exceeding, $4 a gallon, a level not seen since natural disasters temporarily curtailed refinery production, and Gulf States manipulated prices. Republicans plan to put the gas tax issue on the 2018 ballot; hoping voters will roll back the increases. Some are not waiting for the next election, but are voting...
  • Money for Arkansas River Bridge Is Fort Smith's Missing Link

    11/16/2017 4:54:55 AM PST · by Tolerance Sucks Rocks · 17 replies
    Arkansas Business ^ | November 13, 2017 | Marty Cook
    One of Arkansas’ top priorities is finishing Interstate 49 in the western part of the state. A key component of that massive project, which is also massively expensive, is a 13.7-mile stretch near Fort Smith that includes a bridge over the Arkansas River to connect Interstate 40 with Interstate 49, which would then run from south Fort Smith to northwest Arkansas and up through the midsection of the nation. The project’s completion would connect with a 6.5-mile stretch of Interstate 549 that opened in 2015 and hooks up U.S. 71 with Highway 22 in south Fort Smith. The proposed 13.7-mile...
  • Republican Sen. Ron Johnson Opposes GOP Senate Tax Package

    11/15/2017 4:51:41 PM PST · by SkyPilot · 164 replies
    The Wall Street Journal ^ | 15 Nov 17 | Siobhan Hughes
    Sen. Ron Johnson (R., Wis.) said he opposes the Senate Republican tax package, becoming the first GOP voice of dissent that, if it gains momentum, could force significant changes or jeopardize the party’s goal to pass the bill before the end of the year. “If they can pass it without me, let them,” Mr. Johnson said in an interview Wednesday, adding that the plan unfairly benefits corporations more than other types of businesses. “I’m not going to vote for this tax package.” Any Republican opposition is significant because GOP leaders are counting on near universal support from within the...
  • How a New Inflation Measure Raises Taxes on the Middle Class

    11/15/2017 3:10:47 PM PST · by C19fan · 6 replies
    Wall Street Journal ^ | November 15, 2017 | Grep Ip
    Tucked into Republicans’ tax overhaul bill is a technical tweak to how inflation is measured. The change is designed to hold down the deficit, but over time it becomes a significant tax increase that hits many of the same middle-class households who start out as the plan’s beneficiaries.
  • Modified Senate tax bill would make individual cuts temporary, leave lower corporate rate permanent

    11/15/2017 7:23:22 AM PST · by C19fan · 25 replies
    The Hill ^ | November 14, 2017 | Naomi Jagoda
    Senate Finance Committee Chairman Orrin Hatch (R-Utah) released a modified version of the Senate tax bill late Tuesday that includes two key changes: the previously announced elimination of the ObamaCare mandate, and a sunsetting of individual tax rates in 2025.
  • What Donald Trump and Hillary Clinton Agreed On

    11/14/2017 7:13:20 AM PST · by Kaslin · 12 replies ^ | November 14, 2017 | Peter Ferrara
    As a former staffer for President Reagan, I know the complex difficulty of reforming the tax code. In 1986, Reagan and his team delivered the last major tax reform legislation. To achieve success today, President Trump and his allies will need the same wit, charm, and patience Reagan demonstrated. Thankfully, House Ways and Means Committee Chairman Kevin Brady (R-TX) is showing some of the smarts it takes to make tax reform a real possibility. On Thursday, faced with the hot potato issue of carried interest, Brady proposed a middle ground. His amendment, accepted by the Ways and Means Committee,...
  • A key Senate Republican admitted the current tax reform bill can't pass without significant changes

    11/13/2017 4:32:47 PM PST · by SkyPilot · 77 replies
    Business Insider ^ | 13 Nov 17 | Bob Bryan
    The Senate Republican legislation to overhaul the federal tax code can't pass the chamber as currently constructed, a top GOP senator admitted Monday. Republicans are using the process of budget reconciliation to try to pass the Tax Cuts and Jobs Act (TCJA) with a simple majority vote. To do that, the bill has to abide by what's known as the Byrd rule, a provision of which specifies that the legislation cannot add to the federal deficit outside of a 10-year budget window. Multiple analyses have found it would. On Monday, Sen. Orrin Hatch, chair of the Senate Finance Committee and...
  • Opinion: How did CalPERS dig a $153 billion pension hole?

    11/13/2017 11:39:45 AM PST · by Oldeconomybuyer · 41 replies
    San Jose Mercury-News ^ | November 13, 2017 | by Dan Pellissier
    During the next five weeks, the CalPERS board, custodian of $326 billion in assets needed to fulfill retirement promises for 1.8 million California public employees and beneficiaries, will make decisions affecting government budgets for decades to come. The problem is, despite their fiduciary duty under the state Constitution to “protect the competency of the assets” under their absolute control, CalPERS is roughly $153 billion short of fully funding the retirement promises earned to date. How did CalPERS dig this huge hole? During the last decade, they manipulated actuarial assumptions and methods to keep employer and employee contribution rates low in...