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Keyword: taxes

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  • Elizabeth Warren Trots Out One Of Her Brilliant Plans Yet Again

    03/01/2021 4:11:10 PM PST · by Kaslin · 19 replies
    Hot ^ | March 1, 2021 | JAZZ SHAW
    Elizabeth Warren floundered in her own party’s presidential primary last year and was disqualified for a cabinet position because taking one would have cost the Democrats control of the Senate. But that doesn’t mean that she’s faded from the scene entirely. As the Democrats struggle to keep their caucus together and push through some of their legislative priorities, Warren is back with the support of the progressive wing and pitching a big, new idea. Okay… it’s not actually a new idea at all. She’s been pushing it for a while. But now she thinks it might be possible. Yes, the...
  • Biden taxes: $2,000 per family and 40-cents a gallon, warns Grover Norquist

    03/01/2021 10:24:00 AM PST · by Red Badger · 27 replies ^ | | March 01, 2021 08:21 AM | by Paul Bedard, Washington Secrets Columnist |
    Grover Norquist has seen the coming onslaught of Democratic taxes and regulations before. And despite the likely hit it will have on the economy, personal incomes, and 401(k) retirement portfolios, he sees a potential upside that could stall or reverse the effects. “Joe Biden is doing exactly what [Bill] Clinton did to lose the House and Senate and exactly what Obama did to lose the House,” said the president of Americans for Tax Reform. “Massive tax hikes, massive spending, and then poking on the other issues,” he explained. And, he said, while former President Donald Trump also suffered midterm election...
  • Pay-per-mile tax gets test drive in Washington Legislature to augment gas tax

    02/28/2021 1:03:37 PM PST · by cann · 50 replies
    KUOW ^ | FEB 18, 2021 at 5:12 PM | Tom Banse
    Washington state senators have teed up a mileage-based tax for electric and plug-in hybrid vehicles as the first step toward changing how the state pays for road maintenance and other transportation needs. Policymakers expect gas tax revenue to decline long term. Oregon has been experimenting with a per-mile charge for years. Right now, Washingtonians who own fully electric cars pay an extra $225 annual registration fee. A proposal by state Sen. Rebecca Saldaña (D-Seattle) would replace that flat fee beginning in July 2026 with a mandatory 2 cents per mile road usage charge for electric cars and plug-in hybrids. Electric...
  • MARKETS Warren Buffett says ‘never bet against America’ in letter trumpeting Berkshire’s U.S.-based assets

    02/27/2021 5:36:22 PM PST · by nickcarraway · 7 replies
    CNBC ^ | SAT, FEB 27 2021 | Yun Li
    Warren Buffett, the 90-year-old “Oracle of Omaha,” remains a firm believer in the American dream, saying in his closely watched annual shareholder letter to “never bet against America.” “In its brief 232 years of existence ... there has been no incubator for unleashing human potential like America,” the chairman and CEO of Berkshire Hathaway wrote in the letter released Saturday. “Despite some severe interruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: Never bet against America.” Buffett shared a fact in the letter to illustrate Berkshire’s American credentials. He said the conglomerate owns the biggest amount of U.S....
  • US drops key obstacle to global digital tax: Treasury

    02/27/2021 6:02:33 AM PST · by george76 · 22 replies
    AFP ^ | February 26, 202 1
    US Treasury Secretary Janet Yellen told her G20 colleagues Friday that Washington is dropping a push for a controversial provision in a global digital tax, opening the door to a likely agreement. The US shift -- part of a broader repositioning by President Joe Biden from the "America First" agenda of former President Donald Trump -- prompted immediate praise from Germany and France, which said a deal was now "within reach" following the US pivot. Yellen announced at the G20 finance ministers meeting that US officials "will engage robustly" in the talks and "is no longer advocating for 'safe harbor'...
  • 27% Of All Household Income In The US Now Comes From The Government

    02/26/2021 9:16:23 AM PST · by SeekAndFind · 38 replies
    Nation and State ^ | 02/26/2021 | Tyler Durden
    Following today's release of the latest Personal Income and Spending data, Wall Street was predictably focused on the changes in these two key series, which showed a surge in personal income (to be expected in the month when the $900BN December 2020 stimulus hit), coupled with a far more modest increase in personal spending.But while the change in the headline data was notable, what was far more remarkable was data showing just how reliant on the US government the population has become.We are referring, of course, to Personal Current Transfer payments which are essentially government sourced income such as unemployment...
  • Drivers speak out about proposed toll on bridge in Susquehanna County

    02/24/2021 4:00:28 PM PST · by Tolerance Sucks Rocks · 31 replies
    MSN ^ | February 19, 2021 | Courtney Harrison
    The Great Bend-Hallstead exit (230) off Interstate 81 in Susquehanna County is due for repair in the next few years and PennDOT has proposed installing an electronic toll, that would use E-ZPass or pay-by-plate collection for drivers who pass through the area. The funds collected would be used to pay for the construction, maintenance, and operation of that bridge. We spoke with several people who use this section of highway about the proposed idea. "I guess to raise taxes to everybody is really hard, so I guess for the people using the road, then maybe that's a good idea," said...
  • Hendrickson & Cannon: Truth-in-Taxation: A Needed Reform for Iowa’s Property Taxpayers

    02/23/2021 6:00:41 PM PST · by Pining_4_TX · 7 replies
    The Iowa Torch ^ | 02/22/21 | John Hendrickson and Rusty Cannon
    Iowa’s high property taxes are a growing concern. The Tax Foundation examined the “effective tax rates on owner-occupied housing” across the United States. Iowa ranked 12th highest in the nation. At the heart of high property taxes is local government spending. Unless spending is controlled, any property tax relief will be limited. Iowa’s property tax system is complex, and more transparency is needed. Iowa should look to Utah’s Truth-in-Taxation law, which since 1985 has been controlling the growth of property taxes and providing transparency and accountability for taxpayers. Utah’s Truth-in-Taxation is the gold standard model for any property tax reform.
  • Executive Orders V. Guns: How The Second Amendment May Be In Peril

    02/20/2021 2:03:25 PM PST · by Tolerance Sucks Rocks · 208 replies
    GOPUSA ^ | February 19, 2021 | Human Events Staff
    “A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.” It is no secret that the democrats want to strip Americans of their Second Amendment right. And though it hasn’t happened thus far, Joe Biden apparently isn’t ruling out using executive orders to crackdown on the right to bear arms. The topic was discussed during a White House press briefing on Tuesday, in response to a statement that Biden put out last week calling to ban semi-automatic firearms, along with other gun control...
  • Step up in Basis about to go away w/ Team Biden?

    02/20/2021 11:08:31 AM PST · by taildragger · 58 replies
    02/20/2021 | taildragger
    Freepers. Met with my CPA over the innerwebs today. A conservative, 30+ years in the biz.So they tell me what Team Biden is thinking of doing.Elimination of the Step Up in Basis, That is mind blowing.How many of you are keeping running ledgers of Assets and or improvements to hard assets aka real estate etc.? We have been running under the Step Up in Basis rule for some time now.It gets worse.You don't or can't come up with a basis? The IRS will assume Zero, that's right, you will pay tax on the full value of the asset.The only saving...
  • Why aren’t school districts giving taxpayers their money back?

    02/18/2021 6:53:42 PM PST · by george76 · 39 replies
    Washington Examiner ^ | February 11, 202 1 | Stephen Moore
    In Naperville, Illinois, the school board announced it would distribute $10 million back to taxpayers this year. Yes. A tax refund. In a news release, Superintendent Dan Bridges told residents that he "understands the great burden many of our families have faced during the COVID-19 Pandemic and hopes that this reimbursement lessens that burden." The typical family will receive a refund of $200 to $500. Good for Naperville. The 10-month pandemic shutdown generated a savings of roughly $20 million, or about 6.5% out of a $300 million school budget. The Naperville Sun reported that the district's expenses for everything from...
  • Business Owners Say Kansas Counties That Ordered Pandemic Shutdowns Should Refund Property Taxes

    02/15/2021 12:58:31 AM PST · by Libloather · 9 replies
    KCUR ^ | 2/11/21 | Stephen Koranda
    The pandemic caused counties across the state to issue varying levels of business shutdown orders meant to slow the spread of a life-threatening virus. Now businesses that lost their ability to make money during the pandemic want a tax refund for the time they were forced to hang “closed” signs. Lawmakers heard competing arguments about property tax rebates this week. Businesses say the closures put them on the brink of shutting down for good. Local governments warn they don’t have the resources to be offering mass tax refunds. A pending bill is a first step in a larger discussion looming...
  • The Fight Goes on to Eliminate Income Taxes on Social Security and Railroad Retirement Benefits

    02/13/2021 8:31:27 AM PST · by Tolerance Sucks Rocks · 53 replies
    The Association of Mature American Citizens ^ | February 12, 2021 | John Grimaldi
    WASHINGTON, DC, Feb 12 – “We’re not giving up on our efforts to eliminate the unfair income tax on Social Security benefits. The Senior Citizens Tax Elimination Act is being reintroduced and the Association of Mature American Citizens [AMAC] will be doing what it takes to encourage lawmakers to support the measure,” says Bob Carlstrom, president of AMAC Action, the association’s senior advocacy affiliate. The original Social Security and tier 1 railroad retirement benefits were specifically exempted from income taxes when they were created in the mid 1930s. “After all, workers pay for them with taxes that are taken out...
  • States eye flurry of new taxes on Amazon, Facebook and Google, trying to force tech to pay its 'fair share'

    02/13/2021 5:22:51 AM PST · by Oldeconomybuyer · 43 replies
    The Washington Post via SF Gate ^ | February 12, 2021 | by Tony Romm, The Washington Post
    State lawmakers across the country are exploring a range of new taxes targeting Amazon, Facebook, Google and other Internet giants, seeking to capture some of Silicon Valley's eye-popping profits and soaring share prices in the midst of the coronavirus pandemic. Even as the U.S. economy struggles to regain its footing, some of the tech industry's most valuable companies have thrived as Americans spend more time - and money - shopping and communicating on the Web. The disparity has caught the eye of policymakers across the United States who increasingly say it is time for the Internet's cash-flush companies to start...
  • Recovery Rebate Credit - if you didn't get a stimulus check

    02/11/2021 4:58:40 PM PST · by where's_the_Outrage? · 17 replies
    IRS ^ | IRS
    Most individuals eligible for the Recovery Rebate Credit have already received the full amount in two rounds of payments, known as Economic Impact Payments. If we issued you the full amount of each Economic Impact Payment, you won’t need to claim the Recovery Rebate Credit or include any information related to it when you file your 2020 tax return because we already issued your Recovery Rebate Credit as Economic Impact Payments. If you’re eligible for the credit, and either we didn’t issue you any Economic Impact Payments or we issued less than the full amounts, you must file a 2020...
  • A majority of the people arrested for Capitol riot had a history of financial trouble

    02/10/2021 7:33:24 PM PST · by yesthatjallen · 26 replies
    WP via Seattle Times ^ | 02 10 2021 | Todd C. Frankel
    Jenna Ryan seemed like an unlikely participant in the mob that stormed the U.S. Capitol on Jan. 6. She was a real estate agent from Texas. She flew into Washington on a private jet. And she was dressed that day in clothes better suited for a winter tailgate than a war. Yet Ryan, 50, is accused of rushing into the Capitol past broken glass and blaring security alarms and, according to federal prosecutors, shouting: “Fight for freedom! Fight for freedom!” But in a different way, she fit right in. Despite her outward signs of success, Ryan had struggled financially for...
  • The Middle Class Will End Up Paying For The Left’s War On The Rich

    02/09/2021 12:11:52 PM PST · by Kaslin · 34 replies
    The Federalist ^ | February 9, 2021 | Jason Rantz
    As the war on the rich continues to escalate on both coasts, it's the middle-class residents of blue states that will be stuck with the tab.The war on the rich is escalating on both coasts. While Democrats argue they’re righteously demanding the wealthy pay their fair share, it’s the middle class who will pay the biggest price. Legislation labeled a “wealth tax” targets the wealthy. In Washington state, billionaires would be hit with a 1 percent tax on intangible assets. New York’s legislation includes tax hikes on income, capital gains, inheritance, and even stock trades. Seattle state Rep. Noel Frame...
  • CALDARA | CDOT splurges on everything but roads [ Colorado ]

    02/07/2021 9:36:18 AM PST · by george76 · 9 replies
    Colorado Politics ^ | Jon Caldara
    It was only three months ago that we lowly voters passed Prop 117 to stop the state legislature from raising taxes without our consent by calling them new “fees.” Thanks to our Taxpayer’s Bill of Rights, we get to vote on tax increases. Well, at least we did until our TABOR-loathing state Supreme Court ruled that taxes labeled a “fee” need no consent. We just want consensual taxation. Now, the legislature is already entertaining a colossal tax increase, again, without our consent, this time for transportation. The dodge they plan to get around 117 is to immensely increase an existing...
  • IRS Threatens Coloradans Who Already Paid Taxes: ‘They’re Frightened And They Don’t Understand’

    02/06/2021 9:47:13 AM PST · by george76 · 54 replies
    CBS4 ^ | February 5, 2021 | Brian Maass
    Accountants along Colorado’s Front Range are telling CBS4 that dozens of clients who paid their 2019 taxes are nonetheless getting menacing letters from the IRS. Those letters are threatening late fees, penalties and in some cases, property seizure. “Well they’re frightened,” said Denver CPA William Fraser, “They don’t understand why the government, the IRS, would be chasing after them when they’ve paid their taxes.” Fraser said he has about 30 clients who paid their 2019 taxes but are still getting the intimidating letters from the feds. He says his clients are “frightened, angry, stressed, worried because the letters say they’re...
  • ‘Terrible Idea’ with ‘Dismal Track Record’: Top Economists Blast Elizabeth Warren’s Latest Proposal

    02/04/2021 2:32:51 PM PST · by george76 · 30 replies
    Foundation for Economic Education. ^ | Feb . 4 , 2021 | Brad Polumbo
    Economists interviewed by FEE warn that Senator Warren's new proposal would backfire horribly... Senator Elizabeth Warren made a “wealth tax” on net worth one of the defining proposals of her unsuccessful 2020 presidential campaign. Now, the staunch progressive is using her new perch on the Senate Finance Committee to introduce a wealth tax at long last. Warren’s wealth tax would affect families with assets of $50 million and greater, Fox Business reports. It would start at a 2 percent annual tax, but add an additional 3 or 6 percent levy on those with assets totaling $1 billion and more. Other...