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Keyword: taxes

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  • NJ considers taxing tap water

    07/19/2018 11:01:24 AM PDT · by C19fan · 82 replies
    Fox 5 ^ | July 19, 2018 | Staff
    Never short on ideas for things to tax, lawmakers in New Jersey are considering a tax on tap water. The proposal is being floated by State Sen. Bob Smith D-Middlesex, who is trying to say it's not actually a tax but a 'user fee'. "It is a user fee based on volume," Smith told Fox 5's Chasing New Jersey.
  • Four Blue States Protest Tax Reform with a Frivolous Lawsuit

    07/19/2018 7:52:26 AM PDT · by SeekAndFind · 12 replies
    National Review ^ | 07/19/2018 | By JEFFREY DORFMAN
    The Constitution Does not Mandate Deduction of State Taxes. Four high-tax blue states — New York, Connecticut, Maryland, and New Jersey — have filed suit against the federal government over the recent tax reform. Specifically, they object to its limitation on the deduction for state and local taxes (SALT). Under federal tax law, filers are allowed to deduct property taxes (the local part) and either state income or sales taxes. But under the Tax Cut and Jobs Act (TCJA), the SALT deduction is now capped at $10,000. This deduction had been particularly valuable in high-tax, high-house-price states such as California...
  • Another Day, Another Case Study on Media Bias

    07/19/2018 3:01:13 AM PDT · by Enterprise · 3 replies
    https://freebeacon.com ^ | July 18, 2018 | Alex Griswold
    Some nonprofit groups will no longer have to give the IRS the names of donors who give them $5,000 or more. Among the groups that will no longer have to report donors are the National Rifle Association, various chambers of commerce, and groups focused on particular issues, such as Americans for Prosperity, which has been closely associated with the Koch brothers. But the ruling also applies to groups like the NAACP, labor unions and volunteer fire departments. Huh? Why the headline focus on the NRA, then? The headline could have just as easily read "NAACP and some other nonprofits" or...
  • How are Black-owned Businesses Doing in the Trump Economy

    07/19/2018 12:38:48 AM PDT · by 2ndDivisionVet · 16 replies
    The Los Angeles Sentinel ^ | July 19, 2018 | By Marisol Beas, California Black Media
    Leo Hickman, the founder of Classy Hippie Tea Company, has been in business for seven years. Hickman said under the current economy, “there is monetary value, even if you are losing” because Trump “just put in tax breaks for owners,” the American Tax Cuts and Jobs Act, that can be written off. The American Tax Cuts and Jobs Act passed in December and will have some benefits to small business owners. The National Federation of Independent Business  says small business owners will be able to file as “pass through entities,” which allows owners to file and pay as an individual. In addition,...
  • Philadelphia's soda tax upheld by state Supreme Court

    07/18/2018 9:13:55 PM PDT · by Sam_Damon · 14 replies
    6abc.com (WPVI-TV) ^ | July 18, 2018 | Gray Hall
    HARRISBURG, Pa. (WPVI) -- Pennsylvania's highest court is upholding Philadelphia's tax on sweetened drinks, rejecting a challenge to the soda tax by merchants and the beverage industry. The Supreme Court ruled Wednesday the 1.5-cent-per-ounce levy is aimed at distributors and dealer-level transactions and does not illegally duplicate another existing tax.
  • High-tax blue states sue Trump administration over cap on treasured deduction

    07/18/2018 5:46:22 PM PDT · by bkopto · 44 replies
    Fox News ^ | 7/18/2018 | judson berger
    The lawsuit from New York, New Jersey, Connecticut and Maryland amounted to their latest bid to fight the limit on state and local tax (SALT) deductions imposed by the GOP-authored tax plan. "The federal government is hell-bent on using New York as a piggy bank to pay for corporate tax cuts and I will not stand for it," New York Gov. Andrew Cuomo, who is running for re-election and is considered a possible 2020 presidential candidate, said in a statement. The tax law signed last year caps those SALT tax deductions at $10,000. The deduction is especially popular in high-tax,...
  • GOP lawmaker renews call for Trump to release tax returns after Putin summit

    07/17/2018 12:56:42 PM PDT · by jazusamo · 64 replies
    The Hill ^ | July 17, 2018 | Avery Anapol
    Rep. Mark Sanford (R-S.C.) is renewing his call for President Trump to release his tax returns after the president's controversial press conference with Russian leader Vladimir Putin this week. Sanford told The Washington Post’s Robert Costa on Tuesday that he doesn’t know if Putin has any compromising information on Trump, but said he wants more information about Trump’s finances in light of the president's comments while standing alongside Putin the previous day. Trump's remarks during a joint press conference with Putin in Helsinki were widely panned by U.S. lawmakers, with many Republicans and Democrats condemning his comments siding with Putin's...
  • California forced to give back $331 million stolen from home-owners

    07/16/2018 10:03:24 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 07/16/2018 | Thomas Lifson
    What if the bluest state in the country stole a third of a billion dollars from victims of chicanery and the media refused to notice?    I have been stunned at the lack of media coverage of California’s foiled robbery of almost a third of a billion dollars. That’s right: under Governor Jerry Brown, the Great State of California helped itself to hundreds of millions of dollars – money that was supposed to go to home owners, and you probably didn’t hear about it. Bib Egelko of the San Francisco Chronicle was one of the few to cover this...
  • Pay Up! IRS Now Sending Tax Delinquents’ Names For Passport Denials

    07/09/2018 2:07:06 PM PDT · by SeekAndFind · 28 replies
    Hotair ^ | 07/09/2018 | Andrew Malcolm
    This is actually a good news story, but only if you’re a law-abiding, taxpaying American citizen.If, however, you’re among more than a third of a million Americans in a tax delinquent category, well, then this is not a good news story.It seems Congress passed a law three years ago requiring the Internal Revenue Service to cull out Americans who have more than $51,000 in overdue back-tax debts. Then, the IRS sends those names in batches over to the State Department where they file the names to deny those folks new passports or passport renewalsEventually, they may be cancelling existing...
  • Brett Kavanaugh Said Obamacare Was Unprecedented And Unlawful

    07/06/2018 9:47:11 PM PDT · by familyop · 39 replies
    The Federalist ^ | JULY 3, 2018 | Justin Walker
    Brett Kavanaugh has by far the strongest, most consistent, most fearless record of constitutional conservatism of any federal court of appeals judge in the country. Judge Brett Kavanaugh should be the next Supreme Court justice. He has by far the strongest, most consistent, most fearless record of constitutional conservatism of any federal court of appeals judge in the country. Over 12 years and 300 opinions, he has repeatedly fought for principles of textualism and originalism, reined in regulatory overreach, and ensured that administrative bureaucrats are accountable to the elected president. Nominating Kavanaugh would continue President Trump’s exemplary record of selecting...
  • Thousands of Americans Will Be Denied a Passport Because of Unpaid Taxes

    07/06/2018 2:55:43 PM PDT · by Theoria · 37 replies
    The Wall Street Journal ^ | 06 July 2018 | Laura Saunders
    IRS officials provide new details on enforcement of law Congress passed in late 2015 At least 362,000 Americans with overdue tax debts will be denied new or renewed passports if they don’t settle these debts, the Internal Revenue Service says. Recently IRS officials have provided new details on the enforcement of a law Congress passed in late 2015. It requires the IRS and State Department to deny passports or revoke them for taxpayers who have more than $51,000 of overdue tax debt. Enforcement began in February. An IRS spokesman says the 362,000 people are current tax debtors who are affected...
  • Millionaires Flee California After Tax Hike

    07/06/2018 2:11:38 PM PDT · by EdnaMode · 47 replies
    Forbes ^ | July 6, 2018 | Patrick Gleason
    According to new research released by Charles Varner, associate director of the Stanford Center on Poverty and Inequality, California lost an estimated 138 high-income individuals following passage of the Proposition 30 income tax increase championed by Gov. Jerry Brown (D) and approved by Golden State voters in 2012. This new research by Varner updates a previous paper released six years ago that looked at domestic migration to and from California following a 2004 income tax hike. “One reason we wanted to update our previous paper is that this tax change in 2012 is the largest state tax change that we...
  • New York To Nashville, The Tax And Price Exodus Is Growing

    07/06/2018 7:41:06 AM PDT · by SeekAndFind · 19 replies
    Vident Financial ^ | 07/06/2018
    Recently the Wall Street Journal published an article titled As Nashville Rapidly Expands, Residents Worry the Metropolis Is Growing Too Fast, and it beautifully illustrates the basic principles of building a real estate investment index. It seems that the accelerating flow of jobs and peoples from larger cities, especially up north to Nashville, has current residents alarmed."“There is very little opposition in our town to growth,” said David Briley, newly elected mayor of the Metropolitan Government of Nashville and Davidson County, in an interview. “I would say there is a high level of anxiety about the pace of growth.”" The...
  • Facebook Co-Founder: Tax the rich at 50% to give $500-a-month free cash and fix income inequality

    07/06/2018 6:59:02 AM PDT · by EdnaMode · 87 replies
    CNBC ^ | July 5, 2018 | Tom Huddleston Jr.
    Facebook co-founder Chris Hughes thinks the government should give cash handouts to people with the lowest incomes in order to fight income inequality. And he thinks the money should come from higher taxes on wealthy individuals and even big tech companies, like Facebook. Hughes, 34, was one of Facebook’s co-founders, along with Mark Zuckerberg and three of their Harvard classmates, in 2004. He was Facebook’s spokesperson for the company’s first three years, before leaving to finish his Harvard degree and then to work on Barack Obama’s 2008 presidential campaign as a media strategist. He says he's made "half a billion...
  • With no one looking, state lawmakers just passed another new tax (New York)

    07/01/2018 5:39:52 PM PDT · by lowbridge · 33 replies
    nypost.com ^ | July 1, 2018
    State lawmakers proved it again last month: Watch them closely or they’ll get you good. That’s what they did when they passed a new bereavement-leave bill at the 11th hour as the legislative session ended. The bill would force employers to offer workers 10 — yes, 10 — weeks of time off with pay whenever a family member dies. That may sound nice, but the cost would be paid by the worker himself, via a 0.126 percent payroll deduction. Via a new tax, that is.
  • Trump, savoring his success, leaves much of world wondering what's next

    06/30/2018 8:40:52 PM PDT · by 2ndDivisionVet · 11 replies
    CNN Politics ^ | June 30, 2018 | Kevin Liptak
    President Donald Trump was in the East Room of the White House on Friday to trumpet the six-month anniversary of his tax cuts, the singular legislative achievement of his presidency so far. But as his teleprompter instructed him to rattle off statistics about the tax law, Trump determined it was the time and place for a bigger celebration. "Our country is doing so well, possibly as well as it's ever done," the President declared. "I don't think it's ever done like this." As a statement about the country, Trump's remark is debatable. Thousands of immigrant children remain separated from their...
  • Nurturing a small business boon

    06/30/2018 11:42:54 AM PDT · by TBP · 4 replies
    The Washington Times ^ | Thursday, June 28, 2018 | Linda McMahon
    Mike Zaffaroni calls the newest piece of equipment at his landscaping company in Jacksonville, Florida, his “Tax Cut Truck.” He had long wanted to expand the services he offers to his customers and says the tax cuts President Donald J. Trump signed into law six months ago were the motivation he needed to buy the $80,000 truck and forklift. Under the Tax Cuts and Jobs Act, most small businesses will now be able to deduct 20 percent off their business income in addition to having their taxable income taxed at lower rates. And for the first five years, they’ll be...
  • Herbert Hoover and the largest tax increase in American History

    06/30/2018 10:06:38 AM PDT · by ProgressingAmerica · 27 replies
    I like how the constant harping and carping about tariffs these days gets invoked together with fearmongering about Smoot Hawley and the Great Depression. What is missing? The Revenue Act of 1932. After the 1929 crash there was a small tax cut, but this was overshadowed by Smoot Hawley just months later. In the middle of bad economic times, you simply don't raise taxes, and yes, a tariff is a tax. But let's get to the meat of the numbers, shall we? The Revenue Acts of 1918 and 1921 had a top tax rate of 73%. The Revenue Act of...
  • Trump wants second round of tax cuts this year

    06/29/2018 6:38:34 PM PDT · by Libloather · 81 replies
    WASHINGTON – President Donald Trump on Friday said he wanted to further lower the corporate tax rate, from 21 percent to 20 percent, as part of a second round of tax cuts later this year. Trump, in an interview with Fox News to mark the six-month anniversary of the $1.5 trillion tax cut law Republicans passed last year, said other parts of the new tax plan would be tailored to the middle class. “One of the things we’re thinking about is bringing the 21 percent down to 20 and for the most part, the rest of it will go right...
  • Dems Warn of Dangerous Prosperity [semi-satire]

    06/29/2018 6:17:15 PM PDT · by John Semmens · 11 replies
    Semi-News/Semi-Satire ^ | 1 July 2018 | John Semmens
    The federal government's Bureau of Economic Analysis (BEA) reports that for the first three months of 2018 US corporations have repatriated over $300 billion in profits earned in foreign countries. This compares to $35 billion for the same quarter of the previous year. The surge in incoming money was attributed to the Tax Cuts and Jobs Act passed late in 2017. These economic results were a matter of major concern to Democrats. House Minority Leader Nancy Pelosi (D-Calif) ominously warned of "the danger this kind of runaway prosperity represents to civilization. This ugly turn undermines the progress former President Obama...