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Keyword: taxreform

Brevity: Headers | « Text »

    02/19/2015 12:23:20 PM PST · by LSUfan · 23 replies
    BreitBart ^ | 19 Feb 15 | Matthew Boyle
    Americans for Tax Reform (ATR) president Grover Norquist has written a letter to several members of the NRA’s board of directors fervently denying allegations of his ties to Muslim Brotherhood leaders as “conspiracies.” Norquist is currently facing re-election for his position on the NRA’s board of directors, all while these accusations against him have come under renewed attention—and could dominate discussion of his NRA role in the coming weeks. In the letter obtained by Breitbart News, Norquist accuses Center for Security Policy (CSP) president Frank Gaffney, a former official in Ronald Reagan’s Pentagon, of being a “stalker” he has had...
  • TIA talks highway funding, tire registration at event

    02/12/2015 10:10:29 AM PST · by Tolerance Sucks Rocks · 13 replies ^ | February 11, 2015 | Miles Moore
    WASHINGTON—Highway funding, tax reform and tire registration were the big issues tire dealers, repair shop owners and association officials discussed with Capitol Hill staffers during the Tire Industry Association’s Federal Lobby Day on Feb. 5. Approximately 55 representatives of the tire retailing and auto repair industries participated in the event, which began with speeches from current and former members of Congress and progressed to one-on-one meetings with key staff persons in the offices of several top Washington lawmakers. With the Highway Trust Fund set to run out of money in May, passage of a multi-year transportation funding bill was the...
  • Remember When Taxes Used to Cause Revolutions?

    02/11/2015 3:37:01 PM PST · by Kaslin · 8 replies ^ | February 11, 2015 | Michael Schaus
    With a few strategic policy proposals, King George encouraged Americans to sign a document that later became known as the “Declaration of Independence”… Indirectly, of course. In the year of 1765, the King of England managed to do the Obama equivalent of signing Obamacare. With a stunning amount of short-sighted arrogance, the Kingly gentleman from England thrust America into a frenzy of anti-English sentiment. (Racist colonists!) On November 1st, in the year 1765, Britain implemented the Stamp Act. Defending the American colonies during the French and Indian War, as well as the Pontiac’s Rebellion (no-one liked Pontiac then either, apparently),...
  • Swiss Bank Irritates Governments by Helping Clients Avoid Taxes

    02/10/2015 7:29:13 AM PST · by Kaslin · 9 replies ^ | February 10, 2015 | Michael Schaus
    The Swiss arm of HSBC Holdings Plc private banking division has been accused of helping wealthy international customers avoid taxes and conceal millions of dollars from local revenuers… So, when I make my millions, remind me to bank with HSBC.Information leaked (read: stolen) by a former IT employee of HSBC’s private banking division in Switzerland has already been used by authorities to track down potential tax dodgers; and now it is being used to cast partial blame on the financial giant. France is anxiously combing through the illegally obtained information, and has even forwarded the information on to other countries… The...
  • Huff Post Panics Over "Anti-American" Profits

    02/03/2015 9:33:37 AM PST · by Kaslin · 17 replies ^ | February 3, 2015 | Michael Schaus
    The Huffington Post is beside itself with indignant rage over companies moving their headquarters overseas to avoid paying the highest corporate income tax in the industrialized world. Feeling that Secretary Jack Lew was onto something when he accused companies of being economic traitors for reducing their tax burden, the HuffPo let loose a string of economic illiterate ramblings about the indecency of corporate profits.…the drug firm Mylan stomped on the Stars and Stripes as it ditched America for the Netherlands. Then, the drug company AbbVie similarly renounced America. For 30 pieces of silver, it will become Irish. Medical device maker...
  • Déjŕ vu Budget: Obama Asks for Tax Hike on Evil Capitalists

    02/02/2015 9:50:43 AM PST · by Kaslin · 13 replies ^ | February 2, 2015 | Michael Schaus
    It takes a very specialized economic ignorance in order to come up with some of the policy prescriptions proposed by the folks at 1600 Pennsylvania Avenue. In what I can only assume is a plan to continue his pattern of proposing budgets that get soundly rejected by Congress, Barack Obama is proposing a slew of new business taxes to fund (a portion) of his $4 trillion budget.Concerned over the rate at which businesses have been fleeing high US corporate tax rates, Obama has proposed a plan: Tax companies a little more. (Only a Democrat would think we could solve the...
  • Snyder’s Road Tax Reforms is a Bad Path for Michigan

    01/30/2015 6:09:31 PM PST · by Kaslin · 22 replies ^ | January 30,2015 | Gannon LeBlanc
    After the 2014 midterm elections, a lame-duck session of lawmakers got together to strike one final blow against the citizens of Michigan who voted them out. They are pushing for a new tax reform that would tie Michigan for having the second-highest state sales tax in the country at 7 percent. The lawmakers claim that the revenue is needed to fund government services like and local schools and roads despite the fact that it would also double Michigan’s fuel tax, making it the highest in the country. For the sake of the Great Lake State’s economy, Michiganders should reject such...
  • Obama's Tax Reform Flip-flop

    01/28/2015 4:15:16 AM PST · by Kaslin · 6 replies ^ | January 27, 2015 | Daniel Doherty
    First, the basics of the presidentÂ’s new tax proposal: Obama presented his 529 tax plan during his last State of the Union address. The plan consists of raising $1 billion over 10 years by taxing capital gains realized in withdrawals from 529 savings accounts. According to surveys cited by the White House, 70 percent of 529 account assets are held by families earning over $200,000 per year. But what exactly are 529 savings accounts -- and who usually invests in them? Glenn Reynolds explains: Though millions of Americans have been putting money into "tax free" 529 plans to save for...
  • Senator Cruz on tax reform: Abolish the IRS

    01/18/2015 5:23:37 PM PST · by JOHN W K · 50 replies
    1/18/2015 | johnwk
     SEE: Cruz: Abolish the IRS January 13th , 2015 ”Republican Sen. Ted Cruz said Monday that Republicans should take advantage of their control of Congress to abolish the Internal Revenue Service. “We need to pass fundamental tax reform making our tax code simpler, flatter, fairer,” he said Monday at Heritage Action’s 2015 conservative policy summit. ”And I’ll tell you, the single most important tax reform, we should abolish the IRS.” What is discouraging is, the above article goes on to say that Senator Ted Cruz ”… acknowledged it’s not really possible to abolish the IRS or adopt a flat tax...
  • Dems double down on liberal populism, push bolder wealth redistribution

    01/14/2015 12:13:59 PM PST · by Tolerance Sucks Rocks · 21 replies
    The Washington Times ^ | January 12, 2015 | S.A. Miller and David Sherfinski
    House Democrats, fresh off massive election losses, say the problem is they didn’t make a bold enough case for tax increases and wealth transfer to the poor. They rectified that Monday with a speech by Rep. Chris Van Hollen proposing tax increases on the wealthy with the money going straight to tax cuts for the poor and middle class. The plan uses tax laws to encourage employee wage increases, reduce tax breaks for Wall Street and slap another fee on financial transactions. The government would dole out $1,000 tax credits for most workers and increase a slew of other tax...
  • Obama willing to work with GOP on tax overhaul

    12/19/2014 6:20:32 PM PST · by Olog-hai · 25 replies
    Associated Press ^ | Dec 19, 2014 2:27 PM EST
    President Barack Obama says he will try to undertake an overhaul of the tax system with the new Republican majorities in Congress. He says the “devil is in the details.” He says the tax system needs to be simpler and fairer. He says some corporations engage in tax avoidance while others pay full freight. He also says he would like to combine tax changes with money for capital works projects. …
  • Juncker seeks to bypass vetoes on tax reform (European Union breaking its own rules again)

    12/10/2014 9:38:31 PM PST · by Olog-hai · 1 replies
    EU Observer ^ | 12/10/14 @ 18:39 | Honor Mahony
    European Commission president Jean-Claude Juncker has indicated he will try and get around member states’ veto powers over fiscal issues when he proposes new laws to clamp down on tax avoidance. In an interview with the Frankfurter Allgemeine Zeitung, he said he may use a majority vote to get a forthcoming law on the automatic exchange of tax rulings (letters that give companies favorable tax conditions) passed. “I have not excluded that we change the rules using a qualified majority (of member states). I will leave the technical and legal aspects aside now, but it would affect aspects of administrative...
  • Embarrassment Alert: America’s Tax System Ranks Below Italy, Greece, and Mexico

    09/16/2014 11:27:00 AM PDT · by Kaslin · 6 replies ^ | September 16, 2014 | Daniel J. Mitchell
    ’ve complained over and over again that America’s tax code is a nightmare that undermines competitiveness and retards growth.Our aggregate fiscal burden may not be as high as it is for many of our foreign competitors, but high tax rates and poor design mean the system is very punitive on a per-dollar-raised basis.For more information, the Tax Foundation has put together an excellent report measuring international tax competitiveness.Here’s the methodology. The Tax Foundation’s International Tax Competitiveness Index (ITCI) measures the degree to which the 34 OECD countries’ tax systems promote competitiveness through low tax burdens on business investment and neutrality through...
  • Harry Reid’s Kingly Tax Dodge

    08/27/2014 6:19:26 AM PDT · by Kaslin · 34 replies ^ | August 27, 2014 | John Ransom
    Harry Reid is in love with one of the easiest tax dodges out there. He’s been buying –-gasp!!—municipal bonds, which of course every investor knows denies federal income tax from being paid to the patriotic hardworking citizens of the United States via the U.S. Treasury on the income created from the interest rate carried on the debenture. I don’t know how long the government will put up with this loophole whereby the federal government allows some citizens, like Reid, to make really stupid investment choices in the name of tax-free investment, but I can say this: If you have reasonable...
  • How Barack Obama Killed Tax Reform in Its Infancy

    08/08/2014 2:06:13 PM PDT · by Kaslin · 4 replies ^ | August 8, 2014 | Donald Lambro
    WASHINGTON - There's a much bigger, largely untold story behind the renewed debate over U.S. corporations who merge with foreign firms to reduce their federal tax bills. The latest chapter in the story concerns Walgreen, the nation's largest drugstore chain, which plans to go ahead with a cash and stock purchase of a Swiss company that could have resulted in a big tax cut on its corporate profits. Walgreen, however, decided against moving overseas, saying it plans to keep its corporate roots in the U.S. But the back-story involves far more fundamental issues that the news media either played...
  • The IRS: A Public Monument to Sandra Fluke's Privates

    07/26/2014 4:54:09 AM PDT · by Kaslin · 15 replies ^ | July 26, 2014 | John Ransom
    At 74,000 pages, the IRS code is a mind-boggling ode to lobbying, pork-barrel spending and graft. These are the only good things that I can say about the IRS. Ode may be too friendly a word, however. Let’s instead call it an incantation for our country. Because the code holds a country in thrall like the winged monkeys in Dorothy’s Oz were held. And until the witch is dead, we monkeys must do her bidding. Politicians, economists and ordinary citizens can’t follow the tax code, which has tripped up cabinet nominees, majority leaders and others who ought to know...
  • Tax Reform Useless Without Spending Reform

    05/20/2014 2:26:04 AM PDT · by Kaslin · 4 replies ^ | May 20, 2014 | Ron Paul
    Recently, Republican leaders in Congress unveiled a "tax reform" plan that they claimed would provide the American people with a simpler, fairer, and more efficient tax system. While this plan does lower some tax rates and contains some other changes that may make next April a little less painful for Americans, there is little in it to excite supporters of liberty. Taxes may even increase under this plan for some Americans, as it eliminates some of those tax deductions labeled “loopholes.” When I served in Congress I opposed bills that “closed loopholes” because closing loopholes is just a fancy way...
  • The influence pedlers in D.C. don't want the IRS code changed

    . Is it possible that the people in Washington D.C. who sell their influence and the rest of the people in Washington D.C. that are buying that influence don’t want to solve the problem? Senators and Representatives often talk about simplifying the tax code but it never happens. The very complexity of the tax code creates an enormous opportunity for special interest lobbyists in Washington. Given the large campaign war chests amassed by incumbents from special interest lobbyists and the companies they represent I think that we can correctly surmise why the tax code exists as it does.
  • Some Good News on Tax Reform (if You're a Fan of the Flat Tax)

    04/19/2014 5:58:27 AM PDT · by Kaslin · 11 replies ^ | April 19, 2014 | Daniel J. Mitchell
    I’m ecumenical on tax reform. I’ll support any plan that rips up the internal revenue code and instead lowers tax rates, reduces double taxation, and cuts out distorting loopholes. And as I explain in this interview, both the flat tax and national sales tax have a low tax rate. They also get rid of double taxation and they both wipe out the rat’s nest of deductions, credits, exclusions, preferences, and exemptions. Dan Mitchell Commenting on the Obstacles to Tax Reform for Blaze TV You’ll notice, however, that I wasn’t very optimistic in the interview about the possibility of replacing the...
  • A Truly Absurd Tax Code Illustrates the Need for Rational Reform

    04/16/2014 6:52:44 AM PDT · by SeekAndFind · 7 replies
    RCM ^ | 04/16/2014 | Alex Brill
    Tax season is over for all but the greatest procrastinators among us. Two-thirds of taxpayers are celebrating their forthcoming refunds while tens of millions of others have grudgingly written a check to the IRS. Either way, this is the time of year when Americans are most acutely aware of the federal income tax system and all its flaws. Our tax code is extraordinarily difficult to navigate and it sometimes seems that it's more concerned with advancing social and industrial policy goals than raising the money needed to fund government. The plethora of preferential deductions and credits that narrow the tax...
  • Why Did Western Nations Continue to Prosper in the 20th Century even though Fiscal Burdens Increased

    04/12/2014 12:21:13 PM PDT · by Kaslin · 11 replies ^ | April 12, 2014 | Daniel J. Mitchell
    In the pre-World War I era, the fiscal burden of government was very modest in North America and Western Europe. Total government spending consumed only about 10 percent of economic output, most nations were free from the plague of the income tax, and the value-added tax hadn’t even been invented. Today, by contrast, every major nation has an onerous income tax and the VAT is ubiquitous. These punitive tax systems exist largely because – on average - the burden of government spending now consumes more than 40 percent of GDP. To be blunt, fiscal policy has moved dramatically in the...
  • A FairTax question - are investment transactions included as taxable end-user purchases? (vanity)

    04/08/2014 9:36:35 AM PDT · by lump in the melting pot · 5 replies
    my lumpy little brain | 04/08/2014 | me
    An honest inquiry. I'm a big supporter of tax reform in general, and the FairTax in particular sounds like a very good proposal to me. Query as to whether investment purchases (stocks / bonds / ETFs / etc.) are included in the FairTax plan, and if so, at what rate (same as consumer purchases or different)? Opinions welcome as to whether this is or is not a good idea (increased tax base plus encouraging investing as a long-term purchase, vs. possible detriment to the financial market)? Thanks in advance, the lump.
  • Tax reform proposal threatens charities

    04/03/2014 1:35:08 PM PDT · by Graybeard58 · 2 replies
    Baptist Press ^ | Apr 1, 2014 | J.C. Derrick & David Roach
    WASHINGTON (BP) -- Charities could face dwindling donations if Congress adopts a new tax reform proposal introduced by Rep. Dave Camp, R-Mich., chairman of the House Ways and Means Committee. Camp's long-awaited plan to overhaul the tax code, introduced last month, has received some positive reviews, but charitable organizations say it could cost them billions in donations. "I know Chairman Camp wants charitable giving to go up, [but] his discussion draft does not [promote] that," said David Wills, president of the National Christian Foundation (NCF). "It hurts charitable giving significantly." NCF is part of the Faith and Giving Coalition, which...
  • Major Tax Reform Efforts Look Likely to Stall Again

    03/31/2014 8:42:35 AM PDT · by Kaslin · 5 replies ^ | March 31, 2014 | Paul Dykewicz
    Advocates of comprehensive tax reform in the United States should expect to start over in the next Congress due to the dim prospects that anything major will happen before the current legislative year ends in December, a key U.S. senator said. A lack of consensus on tax reform issues and relatively little time to advance any legislation -- without the long-shot possibility of becoming an amendment to a broad budget bill -- leave little hope to make any progress on the short term, said Sen. Benjamin Cardin, D-Md.). Whether you agree with Sen. Cardin’s politics or not, he is...
  • Bill Gates Is Half-Right about Tax Reform

    03/21/2014 11:30:11 AM PDT · by Kaslin · 12 replies ^ | March 21, 2014 | Daniel J. Mitchell
    I generally get very suspicious when rich people start pontificating on tax policy. People like Warren Buffett, for instance, sometimes advocate higher taxes because they’re trying to curry favor with the political elite. Or maybe they feel compelled to say silly things to demonstrate that they feel guilty about their wealth. Regardless, I don’t like their policy proposal (as you can see from TV debates here and here). That being said, I also realize that stereotypes can be very unfair, so it’s important to judge each argument on the merits and not to reject an idea simply because it comes...
  • Tax Reform Should Begin With Eliminating Corporate Taxes

    03/19/2014 7:20:24 AM PDT · by SeekAndFind · 58 replies
    IBD ^ | 03/18/2014 | LAURENCE J. KOTLIKOFF
    My daydream is to lock all members of Congress and the president in a classroom with a big whiteboard and not let them out until they can pass a basic test in public finance. The first thing I'd teach them about is tax incidence — who really bears the burden of a tax. Our politicians seem to think the burden of taxes falls on those who they require to pay, as in remit or transmit or hand over or submit or mail in, the tax. This is entirely off base. Who bears the burden of (is hurt by) a tax...
  • Recalling the Days When Democrats Cut Taxes

    03/06/2014 8:01:03 AM PST · by Kaslin · 3 replies ^ | March 6, 2014 | Larry Kudlow
    Fifty years ago last week, on Feb. 26, 1964, President Lyndon B. Johnson signed into law the sweeping tax cuts that had been championed by his predecessor, John F. Kennedy. The law brought the top marginal income-tax rate down to 70% from 91% and the bottom marginal rate down to 14% from 20%. The 22 rates in between also were cut. The tax legislation of 1964 was one of three major across-the-board income-tax cuts in the 20th century. The others took place in the 1920s, during the Warren Harding and Calvin Coolidge administrations, and in 1981 and 1986 during...
  • Will Senator Ted Cruz and “conservatives” offer real tax reform this coming election?

    12/31/2013 7:42:46 PM PST · by JOHN W K · 29 replies
    12/31/13 | johnwk
    With the 2014 election just around the corner “conservatives” have the opportunity to win the hearts and minds of the American people by offering real tax reform. Have most Americans not witnessed the progressive’s disastrous and slavish experiment associated with the 16th Amendment and taxes levied on incomes without apportionment? Have we not recently seen how this very tax has been used during election time to punish and harass those who dare to speak out and against our despotic federal government? Have we not also witnessed for generations how this despicable tax is used by our federal government to...
  • Leading on Tax Reform: Here's Sen. Mike Lee's Plan

    09/18/2013 6:56:14 AM PDT · by SeekAndFind · 6 replies
    National Review ^ | 09/18/2013 | The Editors
    Yesterday Senator Mike Lee, the Utah conservative, announced an ambitious plan to reform taxes — much the most attractive one we have heard from any Republican for a long time. The plan would cut tax rates, simplify the tax code, and rid it of several features that distort our economy and society. The tax increases that have taken place under President Obama would be undone. The mortgage-interest deduction would be scaled back. And the deduction for state and local taxes would be eliminated: Low-tax states would no longer subsidize high-tax ones, and the federal government would no longer soften voters’...
  • Testimony Before the House Committee on Ways and Means Hearing on Fundamental Tax Reform

    08/02/2013 11:10:46 AM PDT · by Taxman · 29 replies
    self ^ | 08/02/13 | Captain Frank L. Davis, Jr., USNR (Ret)
    Statement of Frank L. Davis, Jr., Co-Founder, Executive Vice President and National Director of Legislative Affairs, National Retail Sales Tax Alliance Testimony Before the House Committee on Ways and Means Hearing on Fundamental Tax Reform Mr. Chairman, Mr. Rangel and Members of the Committee; my fellow Americans. It is a privilege to be asked to testify this afternoon. My name is Frank Davis. I am a retired Naval Reserve Aviator, having spent 28 1/2 years in active and reserve service to my country. I consider myself still serving, albeit in a somewhat different capacity, but with the same goal in...
  • Tax reform proposals to be secret for 50 years

    07/26/2013 7:40:02 AM PDT · by TexasCajun · 63 replies ^ | July 25, 2013 | NEW YORK (CNNMoney)
    Tax reform is apparently so treacherous for senators these days that they require the utmost protection from the public -- half a century's worth. The leaders of the Senate Finance Committee last month asked senators to submit written proposals detailing tax breaks they'd like to see preserved once the tax code is reformed and explain why. The point was to help inform committee leaders in their efforts to craft a tax reform bill. The request apparently wasn't embraced, and the committee has now promised skittish senators that their proposals will be kept secret for 50 years. A memo sent out...
  • Senate Dems to GOP: Give us tax hikes or you get no tax reform

    07/26/2013 10:54:42 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | Kevin Glass | Kevin Glass
    Over the last two years, a groundswell of movement has happened behind the scenes on Capitol Hill. Rep. Dave Camp (R-Mich.) has been working to convince his colleagues of the need for tax reform. Recently, Max Baucus has begun to spearhead that same initiative on the Senate side. And indeed, with Orrin Hatch signed on, it has looked like this is something that could happen.It’s important to note that we’re only talking about tax reform, not cuts. That’s what has kept this tenuous bipartisan movement together. The approach is largely revenue-neutral and would likely end up distributionally similar to what...
  • Reform The Tax Code

    06/06/2013 6:37:16 AM PDT · by Kaslin · 12 replies ^ | June 6, 2013 | Michael Reagan
    Jay Leno told his studio audience the other night that President Obama should forget his plans to close the detention camp at Guantanamo Bay and instead close the IRS. The applause was instantaneous and the laughs were loud and genuine. Most ordinary Americans would have whooped and hollered in favor of Leno's idea long before they learned the IRS has been caught targeting conservative political groups and wasting millions on moronic employee-training conferences. But the IRS is no joking matter. The average working American -- poor or rich or in-between -- hates and fears the IRS for good reason. Able...
  • Will IRS scandal give momentum to tax reform?

    06/04/2013 7:53:14 AM PDT · by SeekAndFind · 18 replies
    Hotair ^ | 06/04/2013 | Ed Morrissey
    Last week, I argued that the political corruption at the IRS revealed last month should give momentum to throwing out campaign-finance “reform” regulation, and produce massive simplification through the end of direct donations and the imposition of immediate transparency. That would effectively strip the IRS of any role in policing political activities, a role which it should never have had in the first place. To reduce the ability of the IRS to conduct mischief through other means, Congress needs to simplify the tax code as well, Rep. Peter Roskam argues in Roll Call, and the scandal may have finally provided...
  • What Are Taxes FOR Anyway ?

    05/18/2013 11:36:52 AM PDT · by knarf · 51 replies
    self ^ | Mayt 18, 2013 | knarf
    I got to thinking about all this tax talk on another thread and I wondered ... what do we need taxes FOR in the first place ...
  • The Republican Party's Road Back to Victory

    05/11/2013 11:50:13 AM PDT · by Innovative · 21 replies
    Real Clear Politics ^ | May 10, 2013 | Peter Wehner
    If Republican leaders were to fully embrace a conservative reform agenda, it would address pressing national needs. It would position the GOP as forward looking, contemporary, and have appeal to swing voters. It would demonstrate a commitment to a brand of conservatism that is practical rather than narrowly ideological. And it contrasts well with today’s reactionary liberalism, by which I mean liberalism that opposes virtually every effort to reform institutions and programs that are sclerotic, outdated, and ineffective. .... There are five obvious areas for Republicans to focus on, beginning with entitlement reform ... A second area Republicans should focus...
  • Dave Camp and the Charge of the Republican Light-Headed Brigade

    04/25/2013 3:43:50 AM PDT · by Kaslin · 4 replies ^ | April 25, 2013 | Hugh Hewitt
    Political and policy fiasco alert: The GOP Chairman of the House Ways & Means Committee is gearing up to waste the House Republican Majority's energy, time and political goodwill on a doomed-to-fail scheme that conservative realists know cannot emerge from Congress. The price of pursuing this strategy will be the loss of many good and necessary initiatives that could get done, initiatives that could unify and energize the voting public behind an expanded GOP House majority in 2014 and gains in the Senate as well. The consequence of this strategic blunder could be the loss of the House majority. Everybody...
  • Bobby Jindal’s Income-Tax Repeal: It’s not dead yet.

    04/11/2013 7:27:10 AM PDT · by SeekAndFind · 1 replies
    National Review ^ | 04/11/2013 | Patrick M. Gleason
    Reading the Wall Street Journal, New York Times, Bloomberg, and pretty much every other news outlet, one would think that Governor Bobby Jindal has given up on his efforts to eliminate the Louisiana income tax. But in fact, pretty much every reporter who has written on this has the story wrong. In his State of the State address on the first day of the 2013 session of the Louisiana legislature this week, Jindal announced that he was “parking” the tax-reform proposal that he unveiled last month, in response to opposition from the public and members of the legislature. While his...
  • Jindal backs off of his tax reform plan: “Let’s work together” (Too much, too soon)

    04/08/2013 7:08:01 PM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 04/08/2014 | Erika Johnsen
    Earlier this year, Louisiana Gov. Bobby Jindal promised to undertake the major task of simplifying the state's tax code in the interests of promoting economic competition, business friendliness, and job growth; and last month, he unveiled his plan to get rid of income and corporate taxes in favor of a sales tax increase from 4 to 5.88 percent. There was quite a lot of grumbling about the specifics of his plan, however, and in a surprise move on Monday, he opened the 2013 legislative session with the announcement that he’s going to at least temporarily shelve his proposal in favor...
  • Reuters: Louisiana Governor Jindal's popularity slumps after bold tax plan

    04/07/2013 7:27:45 AM PDT · by SeekAndFind · 30 replies
    Reuters ^ | 04/06/2013 | Stephanie Grace
    (Reuters) - Louisiana Governor Bobby Jindal, one of the nation's most prominent Republicans and a possible 2016 presidential candidate, has fallen out of favor with local voters, and his bold plan to scrap the state income tax is running into trouble. Jindal was re-elected to a second term with two-thirds of the vote in 2011. But his Louisiana approval rating was down to 38 percent in a recent poll, worse than Democratic President Barack Obama in one of the most conservative states. The poll suggested voters think he is spending more time traveling outside the state and burnishing his credentials...
  • Total Tax-Code Termination? (Reality Check: no sweeping reform will please both sides)

    01/28/2013 8:33:34 AM PST · by SeekAndFind · 6 replies
    National Review ^ | 01/23/2013 | James Pethokoukis
    It would be the ultimate fiscal cliff. A group of House Republicans wants to put an expiration date on the 75,000-page U.S. tax code. The Tax Code Termination Act would require the repeal of the entire code in 2017 — except for the bits dealing with Social Security and Medicare — with a new system ready to go for the following year. Of course, the U.S. economy would benefit from major tax reform that eliminated the current bias against investment, axed crony-capitalist tax breaks, and lowered marginal rates on individuals and business as much as possible. But Republicans can put...
  • An idea for tax reform: Abolish the payroll tax

    12/26/2012 7:22:00 PM PST · by SeekAndFind · 26 replies
    Washington Examiner ^ | 12/26/2012 | Editorial
    If Republicans and Democrats are serious about tax reform in 2013, they should throw away the tired old playbook and consider bolder ideas to fundamentally change the flawed tax code. One such idea would be to eliminate the payroll tax. The payroll tax -- 12.4 percent, split between workers and their employers to help finance Social Security -- is one of the worst taxes on the books for several reasons. A basic economic principle is that when the government taxes something, the nation gets less of it. Because the payroll tax makes it more expensive and administratively burdensome for businesses...
  • The death of tax reform

    12/09/2012 9:02:10 AM PST · by george76 · 10 replies
    Washington Post ^ | December 6 , 2012 | Robert J. Samuelson,
    The story behind the story is that “tax reform,” as we know it, is dying. During the 1980s, no major piece of legislation better symbolized bipartisan consensus than the Tax Reform Act of 1986, which was regarded by both liberal and conservative experts as the best tax law since World War II. The basic idea was simple: Reduce tax rates and recover lost revenue by ending (or limiting) tax breaks. The struggle between President Obama and House Speaker John Boehner over the “fiscal cliff” indicates that this beneficial consensus has collapsed. Just the opposite is occurring. ... many politicians support...
  • In Communist Cuba, the Tax Man Cometh

    11/28/2012 8:01:41 AM PST · by Red Badger · 1 replies
    CNBC ^ | 11-28-2012 | Staff
    <p>Most Cubans have not paid taxes for half a century, but that will change under a new code starting January 1.</p> <p>The landmark regulations will change the relations of Cubans with their government and are a signal that market-oriented reforms, launched since President Raul Castro succeeded his brother, Fidel Castro, in 2008, are here to stay.</p>
  • The 2013 Sword of Damocles (Fairtax)

    11/09/2012 8:08:31 AM PST · by Hostage · 16 replies
    Vanity ^ | 11/9/2012 | Hostage
    In the aftermath of a surreal election shock, those that ponder how to organize their way forward should heed this plea to familiarize themselves with every detail and nuance of the most innovative and inspirational legislation that has more support in Congress than all other competing proposals. Here is an easy intro link: Like the Sword of Damocles in Greek mythology, the FairTax can be held over the heads of those that have ascended the throne of the most powerful nation under God that has ever existed in human history.

    10/09/2012 12:50:15 PM PDT · by betty boop · 14 replies
    unknown | unknown
    BAR STOOL ECONOMICS Suppose that every day, ten men go out for a beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1.00 The sixth would pay $3.00 The seventh would pay $7.00 The eighth would pay $12.00 The ninth would pay $18.00 The tenth man (the richest) would pay $59.00 So that’s what they decided to do. The men drank in the bar every day and seemed quite...

    09/13/2012 3:11:16 PM PDT · by neverdem · 2 replies
    Human Events ^ | 9/13/2012 | Michael Barone
    One of the services of the Simpson-Bowles Commission was to set out a path for tax reform, with lower income tax rates and removal of many tax preferences — or, to use the commission’s term, tax expenditures. It’s an approach that has been tried before and worked. Ronald Reagan called for such a reform in 1984, and after much negotiating, it was hammered out in 1986. Lead roles were played by Treasury Secretary James Baker; the Democratic chairman of the Ways and Means Committee, Dan Rostenkowski; and the Republican chairman of the Senate Finance Committee, Bob Packwood. It wasn’t easy...
  • Ryan's Budget Is Radical? Far From It

    08/14/2012 5:18:30 AM PDT · by IBD editorial writer · 2 replies
    Investor;s Business Daily ^ | 08/13/2012 | John Merline
    No sooner had Mitt Romney announced Paul Ryan as his running mate than Democrats and their backers started attacking the Wisconsin Republican as a "radical." President Obama's campaign manager, Jim Messina, immedi ately sent an email out to supporters calling Ryan the "author of a budget so radical the New York Times called it 'the most extreme budget plan passed by a House of Congress in modern times.'" [snip] But Ryan's budget plan is far from radical.
  • Obama moves on corporate-tax reform (in the wrong direction!)

    02/22/2012 9:37:34 AM PST · by SeekAndFind · 9 replies
    Hotair ^ | 02/22/2012 | Ed Morrissey
    Corporate tax reform has long been an opportunity for a win-win bipartisan effort in Washington. Everyone agrees that the corporate code needs significant changes, if not a complete overhaul; it's too complicated, too costly, and rewards the larger companies that can afford to analyze it for every possible benefit. Both parties have made corporate tax reform part of their plartforms, Democrats arguing that we need to close loopholes, Republicans that we need simplification and lower rates.The White House decided to go first on corporate tax reform: The Obama administration Wednesday will unveil a framework for reforming the corporate tax code...
  • Officials Return From Western Gas Fields ‘Invigorated’

    02/04/2012 8:58:39 PM PST · by greenwill · 18 replies · 1+ views
    Rocket-Courier ^ | 01/19/2012 | RICK HIDUK
    Participants in a recent shale gas energy conference held in Hobbs, New Mexico, referred to a whirlwind trip to Lea County, NM, as “exhausting” but “enlightening.” Bradford County Commissioners Doug McLinko, Mark Smith, and Daryl Miller, Susquehanna County Commissioner Mary Ann Warren and Pennsylvania state Rep. Tina Pickett were among local elected officials to partake in discussions and serve as guests on informative panels.