|
Republicans and the U.S. Chamber target new tax-reporting rule in health law
"Under the Democrats’ new healthcare reform bill, companies, nonprofits and government offices are required to file 1099 forms with the IRS when goods purchased from another business exceed $600 in a year. Under previous law, the reporting requirement pertained only to services exceeding that amount."
7/26/2010
Permalink ID:15501
|
7/26/2010
Permalink ID:15497
|
Obama Commission Will Call for Trillions in Tax Hikes
"Obama debt commission member, Republican Sen. Judd Gregg of New Hampshire, launched a scary trial balloon on ABC News. Gregg suggested the debt commission will likely recommend a massive $26.7 trillion tax increase. Here are Gregg's actual words: "
"Everything has to be on the table - there's no question about that... Erskine Bowles, one of the co-chairmen of the commission, has suggested a 75-25 split -- 75 percent of the savings being in spending, and 25 percent in revenues... I think it's likely that there will have to be a revenue component, but it should be significantly, dramatically -- and a 3-1 ratio is pretty dramatic -- dramatically less than the initiatives in the spending side of the ledger."
7/25/2010
Permalink ID:15478
|
Democrats are betting that ending tax cuts for the rich will play in their favor
"President Obama and Democratic leaders in Congress are setting the stage for a high-stakes battle over taxes in the final weeks before the November congressional elections, betting that their plan to eliminate tax breaks for the wealthy will resonate with voters who have lost houses and jobs to what many see as an era of Wall Street greed. "
7/25/2010
Permalink ID:15476
|
Sen. John Kerry skips town on sails tax
"Sen. John Kerry, who has repeatedly voted to raise taxes while in Congress, dodged a whopping six-figure state tax bill on his new multimillion-dollar yacht by mooring her in Newport, R.I."
7/24/2010
Permalink ID:15449
|
The Obama Tax Tsunami is Here
"The American people are already well aware of President Barack Obama’s historic expansion of government spending: his $862 billion economic stimulus that has completely failed to keep unemployment below 8% as promised; his still-expanding health care law which the Congressional Budget Office now admits will cost more than $1 trillion; and an Obama budget that increases government spending by $12,000 per household. But all that spending is just the first half of President Obama’s game plan."
7/22/2010
Permalink ID:15423
|
Bush Tax Cuts Roil Democrats
"Two more Senate Democrats called for extending tax cuts for all earners—including those with the highest incomes—in what appears to be a breakdown of the party's consensus on the how to handle the expiration of Bush-era tax cuts."
7/22/2010
Permalink ID:15412
|
The Tax Tsunami On The Horizon
"Many voters are looking forward to 2011, hoping a new Congress will put the country back on the right track. But unless something's done soon, the new year will also come with a raft of tax hikes — including a return of the death tax — that will be real killers."
7/21/2010
Permalink ID:15388
|
White House Admits Obamacare’s Individual Mandate is a Tax
"Throughout his presidential campaign, then-candidate Barack Obama promised the American people: “If you’re a family that’s making $250,000 a year or less, you will see no increase in your taxes.” After he became President, Barack Obama reiterated that pledge, promising the American people in his September 9th health care press conference: “The middle-class will realize greater security, not higher taxes.” But Obamacare does contain tax hikes. Tons of them. From taxes on tanning beds to taxes on employment and investments, Obamacare is a certified job-killing machine."
7/20/2010
Permalink ID:15350
|
Sharron Angle to Publicly Sign Death Tax Repeal Pledge
"Nevada Jobs & Family Businesses Jeopardized if Federal Estate Tax Raised from Dead."
7/19/2010
Permalink ID:15328
|
The Obama Tax and Spend Threat to Economic Recovery
"Remember President Barack Obama’s promise to the American people not to raise taxes? Forget about it. While the President has already raised taxes on cigarettes and tanning beds, none of that compares to what could happen in January. If you earn income, your taxes are about to go up. If Congress does not act to preserve current law, even the lowest 10 percent bracket will rise to 15 percent. Throw in tax hikes on capital gains, dividends and other tax code fixes, and the American economy is staring straight down the barrel of $3.2 trillion tax hike over the next ten years."
7/13/2010
Permalink ID:15183
|
Too Rich to Live?
"The estate tax is set to come roaring back in January. That sets the stage for a perverse calculus: End it all—or leave a massive bill for your heirs to deal with."
7/9/2010
Permalink ID:15062
|
7/6/2010
Permalink ID:14970
|
Read my lips: no new middle-class tax … pledges
"A growing number of Democratic lawmakers have begun to make noise in recent days about raising taxes on the middle class and discarding President Obama’s promise not to increase the tax burden on those making $250,000 a year or less."
6/26/2010
Permalink ID:14707
|
6/26/2010
Permalink ID:14701
|
Should We Raise Taxes on the Middle Class? We Already Are
"...by 2020, income tax receipts are projected to rise to 9.5 percent of GDP, even if all of President Bush’s tax cuts are made permanent. By 2030, income tax receipts will rise to 10 percent of GDP, 22 percent higher than the historical level."
6/26/2010
Permalink ID:14694
|
New Jersey tax revolt: Blue state leader sends a message to the rest of the country
"It's crunch time for New Jersey Gov. Chris Christie. The Republican newcomer won a surprise victory last year over incumbent Democrat Jon S. Corzine in a state where President Obama enjoyed a 15-point edge. It was Mr. Christie's signature campaign issue, tax reform, that brought him to the statehouse. Now the former U.S. Attorney has less than a month left to get his proposed constitutional amendment limiting property taxes onto the November ballot."
6/24/2010
Permalink ID:14610
|
6/23/2010
Permalink ID:14580
|
6/22/2010
Permalink ID:14566
|
Dems: We’re not bound by president’s tax vow
"Democrats are looking at the possibility of raising taxes on families below the $250,000-a-year threshold promised by President Barack Obama during the election."
6/22/2010
Permalink ID:14565
|
CBO: Middle Class--Not the Rich or the Poor--Pay Majority of Federal Taxes
"Middle-class Americans--not the rich or the poor--pay the majority of annual tax revenues taken in by the federal government, according to data released in a new Congressional Budget Office study. Households earning less than $34,300 per year, meanwhile, actually pay a negative average federal income tax rate."
6/22/2010
Permalink ID:14532
|
Russia Scraps Capital Gains Tax
"The former communists running Russia apparently understand tax policy better than the crowd in charge of U.S. tax policy. Not only does Russia have a 13 percent flat tax, but the government has just announced it will eliminate the capital gains tax (which shouldn’t exist in a pure flat tax anyhow)."
6/20/2010
Permalink ID:14488
|
6/20/2010
Permalink ID:14480
|
Obama Admin. Argues in Court That Individual Mandate Is a Tax
"In order to protect the new national health care law from legal challenges, the Obama administration has been forced to argue that the individual mandate represents a tax -- even though Obama himself argued the exact opposite while campaigning to pass the legislation. "
6/18/2010
Permalink ID:14422
|
One solution fits all
Surprisingly or maybe not
Democrats propose further tax hike on offshore oil. "The new legislation would raise the tax on oil produced offshore from 8 cents to 41 cents per barrel. That's nine cents higher than legislation that passed the House last month."
6/8/2010
Permalink ID:14131
|
Federal Spending by the Numbers
"The 2010 edition of “Federal Spending by the Numbers” shows spending and deficits continuing to grow at a pace not seen since World War II. Washington will spend $30,543 per household in 2010—$5,000 per household more than just two years ago. While some of this spending is a temporary result of the recession, President Obama’s latest budget would replace this temporary spending with permanent new programs. Consequently, by 2020—a time of assumed peace and prosperity—Washington would still spend nearly $36,000 per household, compared to $25,000 per household before this recession (adjusted for inflation)."
6/2/2010
Permalink ID:13919
|
Sorry, sweetie: Candy tax kicks in Tuesday
"Taxes on candy, gum, bottled water and beer, all taking effect Tuesday, are expected to bring in a combined $122 million over the next year to help deal with a $2.8 billion state budget gap stemming largely from the recession."
6/1/2010
Permalink ID:13871
|
6/1/2010
Permalink ID:13864
|
5/29/2010
Permalink ID:13764
|
5/29/2010
Permalink ID:13760
|
Is Hillary Clinton Ignorant about Geography, Fiscal Policy, or Both?
"Hillary Clinton recently opined that Brazil was a great role model for the idea of soaking the rich with higher tax rates. She didn’t really offer evidence for that specific assertion, but Politico reports that she did say that “Brazil has the highest tax-to-GDP rate in the Western Hemisphere and guess what — they’re growing like crazy."
5/29/2010
Permalink ID:13752
|
Sec. Clinton: Our Taxes Aren’t High Enough
"The rich are not paying their fair share in any nation that is facing the kind of employment issues (the United States is), whether it’s individual, corporate, whatever the taxation forms are.”
"Brazil has the highest tax-to-GDP rate in the Western Hemisphere and guess what — it’s growing like crazy. And the rich are getting richer, but they’re pulling people out of poverty … There is a certain formula there that used to work for us until we abandoned it, to our regret in my opinion."
5/29/2010
Permalink ID:13737
|
Tax Liabilities for Sample Families Under Bush & Obama Tax Law
"Below are tax calculations for a few sample taxpayers. Since it's not clear how Congress and the President will deal with the expiration of all the tax cuts, we calculate them in three ways."
5/27/2010
Permalink ID:13700
|
Democrats propose tax hikes in response to Schwarzenegger's fiscal plan
"The party's leaders in the Senate and Assembly agree that any rational plan to close the $19.1-billion deficit must include additional sources of revenue."
5/26/2010
Permalink ID:13669
|
Gov. Christie: We're Not Raising Taxes
"New Jersey Governor Says He Has Residents Covered Through Fiscal Year 2011 Despite $800 Million Hole."
5/26/2010
Permalink ID:13666
|
Obama to snatch up to 75% of your income
"If President Obama repeals the Bush tax cuts and imposes a 20 percent value added tax, or VAT, on the U.S., Americans may be facing tax rates where more than half of everything earned is confiscated by the federal government in the form of income taxes, Jerome Corsi's Red Alert reports. "
5/25/2010
Permalink ID:13639
|
5/25/2010
Permalink ID:13608
|
30,000 in NJ protest state budget cuts
"Public employees, nonprofit groups face cuts."
5/23/2010
Permalink ID:13552
|
U.N. Internet Tax Dead - For Now
"A controversial United Nations plan to impose consumer taxes on such things as Internet activity and paying bills online in order to drastically restructure the world drug industry hit a wall of disagreement on Friday, and is likely dead -- for now."
5/23/2010
Permalink ID:13549
|
Stealth IRS changes mean millions of new tax forms
"The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. But it's just one piece of a years-long legislative stealth campaign to create ways for the federal government to track down unreported income."
5/22/2010
Permalink ID:13511
|
Born to Veto: Christie saves New Jersey from a tax increase
"New Jersey Governor Chris Christie may have set a record for the speediest veto in American history on Thursday when he rejected an income tax surcharge passed by the Democratic legislature two minutes after it arrived on his desk."
"That bill would have resurrected former Governor Jon Corzine's "temporary" income tax surcharge on millionaires that expired at the start of this year. Democrats want to reinstate a top tax rate of 10.75%, up from an already high 8.98%. Mr. Christie stated what is obvious to every taxpayer in the Garden State not on the public payroll: "New Jersey does not have a tax problem; New Jersey has a spending and size of government problem."
5/22/2010
Permalink ID:13496
|
New Jersey Lawmakers Pass Millionaire Tax; Veto Looms
"Lawmakers in New Jersey’s Democrat- controlled Assembly voted to raise income taxes on residents earning at least $1 million a year, as Republican Governor Chris Christie said he’d veto the bill. "
5/20/2010
Permalink ID:13422
|
Pelosi delays floor vote on tax extensions
"Facing a Blue Dog revolt, Speaker Nancy Pelosi (D-Calif.) delayed the floor vote on a bill extending several individual and business tax breaks, which had been due Friday."
5/20/2010
Permalink ID:13415
|
|