Posted on 07/10/2009 7:39:13 AM PDT by Oldeconomybuyer
Faced with massive deficits and dwindling tax revenues, the U.S. government is "turning every rock it can over to find as much revenue as it can," says Ken Rubinstein, senior partner at Rubinstein & Rubinstein.
In addition to potential tax hikes, Rubinstein sees a wholesale change in how America treats foreign holdings of U.S. individuals and corporations, citing:
•Repatriation: The Obama administration has discussed raising taxes on profits earned overseas by U.S.-based corporations.
•Flexing Muscles: The U.S. government will ask all nations to sign a "tax information exchange agreement."
•Crackdown on Havens: Beyond the government's ongoing case against UBS, pending legislation declares "anybody who sends money to a ‘tax haven country' will be presumed to be committing tax fraud,"
The government is "doing as much possible to increase amount of taxes it receives," he says. "It will increase revenues, but the question is whether the government looks at things in the long-term or only in the short-term."
(Excerpt) Read more at finance.yahoo.com ...
CA will have to do the same thing.
Here's the problem...Government wages and pensions. No one gets their pension until they're at least 65 AND have 30 years....excepting the military which may use 20 years as sufficient.
Is the goal to raise tax revenue or to reduce the number of U.S.-based corporations?
Who gets to turn over the government’s rocks?
How about stringing up the politicians who spend money that doesn’t even exist yet?
No it's not. If raising revenue were the goal there are any number of ways to do that. Raising revenue is the secondary goal, not the primary goal. Any revenue-raising plan must meet the first requirement, that it continue, or increase, government's control over the people.
One of the first steps to increasing revenue would be to stop them from using the tax code for social engineering.
Truth is, they consider their control over the taxpayer more important than raising revenue.
I think it is time to make the Government spend five dollars and three years in court on every dollar it collects.
Except my taxes are overpaid and they owe me money.
“Here’s the problem...Government wages and pensions.”
Never will get fixed. Arnold gave it one quick try, and they kicked his a$$. California will go bankrupt unless feds bail it.
anyone sending money to a “tax haven country” is guilty of a crime? Who’s going to tell all the Mexicans standing in the MoneyGram line down at WalMart....
This training seminar is brought to you by {drumroll please}...
We all need to “go John Galt” in an attempt to deny Obama as much revenue as we can legally deny him. I am absolutely willing to spend $500 and lots of time to lower my taxes only $500. One little thing I can do right now is increase my medical-expense Flex account out of which I can pay medical expenses with pre-tax dollars. Just to deny dollars to Obama, I will gladly risk having to lose some of the dollars in that account if my medical expenses are somewhat less than the amount I set aside.
Most of what I can do is penny ante, but if everyone would do a little, it might have an effect. At least it makes me feel a little better.
Let's start with requiring all Democrats to pay their taxes.
The monster is thrashing!
ROTFLOL!!
How did Caligula do it?
Guilty until proven innocent
FMCDH(BITS)
One of the first steps to increasing revenue would be to stop them from using the tax code for social engineering.
You mean like all those child credits where the so-called taxpayer borrows someone else’s children to add to the form and get money back???? I worked in a firm—now defunct—where many of the younger ones in their twenties were shocked to find they owed money(they all claimed the highest amt allowed like 10 or 12 on the deduction line for their paychecks to be big). So, they went around the ghetto and found kids and added them. The next year and one half went by, and they weren’t audited. See, public education works!
We’re turning over every rock we can, and all we’ve found so far have been Maxine Waters, Barney Frank, Chris Dodd, Chuck Schumer...
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