Category: Taxes
The analysis published under this category are as follows.
Wednesday, April 04, 2012
It’s Tax Time: Is It Time To Occupy The IRS? / Politics / Taxes
By: Danny_Schechter
Every year I trek down to a nondescript office building near Wall Street with a bag full of receipts and a belly full of anxiety.
When it’s tax time, I always hope for the best but…. I also had an accountant who I trusted to keep me on the up and up. He was recommended years earlier by the Yippie activist Abbie Hoffman, who wanted to avoid the Al Capone problem.
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Saturday, March 17, 2012
UK Coalition Government to Scrap 50% Tax Rate to Spark Economic Growth / Politics / Taxes
By: Nadeem_Walayat
The Conservative party media spin machine has gone into over drive by spreading the word that George Osbourne will cut the top rate of income tax from 50% to 40% in next weeks budget in an attempt at reversing some of the damage done by the last Labour government that all but destroyed large swathes of the private sector in favour of pumping resources into the Labour voter friendly unproductive public sector.
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Sunday, February 26, 2012
Taxes, Why Shouldn't Everyone Pay Something? / Politics / Taxes
By: John_Mauldin
Don't Tax You, Don't Tax Me
Tax that Man Behind the Tree!
– Senator Russell Long, Democrat Louisiana (1918-2003)
Last week's letter on taxes drew more response than any letter I have written in years. Questions that were raised simply beg for an answer, and some of the replies were very thoughtful, well-written suggestions for alternatives. This week I am going to do something I can't ever remember doing, and that is to use the entire letter to involve and respond to my readers. Let me begin by thanking all of those who responded, and to observe that every response I read was polite and courteous, even when aggressively disagreeing. Not every site on the internet has such a civil discourse among its readers. I appreciate that. Next week we will return to All Greece, All the Time or whatever the crisis du jour is, although I am much more interested in China of late. I will have to address the world's largest nation at some point soon. At the end of the letter, I provide some very interesting and fun links and a note on an upcoming webinar with investment legend Israel "Izzy" Englander. Now, let's zero in on taxes.
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Monday, February 20, 2012
Taxes, Pay Up or Die! / Politics / Taxes
By: LewRockwell
Laurence M. Vance writes: Because I don’t like to pay taxes, I was intrigued by the title of the article by Stephen Foster that I was directed to titled: "102 Things NOT To Do If You Hate Taxes." The article is a liberal defense of the legitimacy of the government (usually federal, but sometimes state or local) confiscating a portion of Americans’ incomes and redistributing and reallocating the incomes because the government provides certain services. Implied throughout the article is the myth that none of the 102 things listed "NOT to do" would exist without the government. The above Holmes quote appears at the end of the article.
Saturday, February 18, 2012
Exploring the Not-So-Altruistic Aspects of the Buffett Tax Rule / Politics / Taxes
By: Casey_Research
By Robert Ross, Casey Research This week, President Obama released his $3.8-trillion budget for fiscal year 2013. The plan calls for new taxes on the wealthy, a restructuring of the tax code, and short-term infrastructure spending aimed at boosting the economy (albeit artificially).
Also included in the budget are limitations on subsidies for oil and gas companies, an end to the Bush tax cuts, and a proposal to raise taxes on dividends, which could be as high as 39.6% for households making over $250,000 per year.
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Saturday, January 28, 2012
HMRC Extends Tax Deadline by 2Days for Self Assessment Online Filing / Personal_Finance / Taxes
By: Nadeem_Walayat
A strike by HMRC staff on the 31st of January 2012 has prompted the Inland Revenue to extend the tax deadline by 2 days to cope with the annual last minute rush by upto 2 million people to complete online personal self assessment tax returns on the last day.
Strike action on the 31st of January may have meant that many of those calling the HMRC for advise and guidance may have not been able to get through.
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Tuesday, January 24, 2012
Warren Buffet on Filling the Government Budget Deficit By Taxing the Wealthy / Politics / Taxes
By: Bloomberg
BLOOMBERG EXCLUSIVE: Warren Buffett and Rep. Scott Rigell (R-VA) spoke with Bloomberg Television's Betty Liu in Omaha, NE during their first in-person meeting following Rigell's pledge to give 15% of his salary to help pay down the national debt.
Buffett said he would donate 15% of his income if 10% of Congress would, but that donations are ultimately insufficient and "what is effective is changing the law."
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Sunday, January 15, 2012
Child Benefit Cuts to be Tapered For Higher Rate Tax Payers, Coalition Government Benefits Culture Failure / Politics / Taxes
By: Nadeem_Walayat
The government is seeking to amend the proposed Child Benefit cuts for families where there is a single higher rate tax payer, which is grossly unfair as in its current form would mean a family of 3 children with one tax payer earning £42,375 (Not £44k as stated in the mainstream press) would lose £2,200 in child benefit, whereas a family with two wage earners earning £42,000 each would retain their full child benefit despite having combined earnings of £84,000.
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Saturday, December 24, 2011
U.S. the Payroll Tax 'Holiday' Extension a Festivus Miracle for GDP? / Economics / Taxes
By: Paul_L_Kasriel
In recent days many economists were preparing to lower their 2012 GDP forecasts in case Congress could not reach an agreement to extend the 2% reduction in the employee contribution to the payroll (FICA) tax. I kept getting questions on how much I was going to lower my forecast if the tax holiday were not extended. And I kept responding, 0.0%.
Tuesday, November 29, 2011
U.S. Government Spends More than it Earns, It’s All Very Taxing / Economics / Taxes
By: John_Mauldin
Today's Outside the Box is something a little different for me. Howard Marks of Oaktree Capital Management has produced a most excellent summary of the problems inherent in "all things taxing" in the US. He delves into not only the specifics but also some of the philosophy of taxation. This is a balanced piece in which he tries to present all sides and arguments, giving us a very real picture of the dilemma we face, and leaving us to draw our own conclusions. Whatever we do going forward, including nothing, the outcome with regard to taxes is going to be difficult if not painful for most of us. We talk about everyone paying their fair share, but what does that mean? The answer is that it means very different things to different people.
Saturday, September 10, 2011
Greece Reality Check: The Answer Is Taxing Tourist Property / Economics / Taxes
By: Andrew_Butter
The Greek Government owes 320 Billion Euros, her partners in Europe are now considering letting her fall, cheaper to bail-out German and French banks (mainly) than throwing good money after bad at the basket-case.
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Wednesday, August 17, 2011
Planet of the Taxpayers / Politics / Taxes
By: Jeffrey_A_Tucker
The remake of The Planet of the Apes — the apes look real this time — purports to give the backstory of how it is that the world came to be governed by primates while the handful of humans are caged and abused.
The story line is so conventional that you could make it up just sitting there. A private-sector biochemical corporation rushes to test a drug that is supposed to reverse Alzheimer's. It is tested on apes and the drug makes them strangely intelligent. But the same drug unleashes a killer virus among humans. The rest is science-fiction history.
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Saturday, July 23, 2011
Escalating Battle Between Amazon and California / Companies / Taxes
By: Jeff_Clark
Jeff Clark, BIG GOLD writes: My local newspaper ran a story about the escalating battle between Amazon.com and the state of California. At issue is the collection of sales tax: Governor Jerry Brown signed a law requiring online retailers to collect state sales tax on purchases made by CA residents.
Monday, July 18, 2011
Unfair U.S. Tax Burden Falls Disproportionately on Individuals and Small Business / Politics / Taxes
By: Jesse
Although the nominal US corporate tax rate of 35% seems high, and especially so given all the corporate funded propaganda promoting more tax cuts and givebacks, in fact the realized corporate rates are relatively low both in terms of historical experience and other countries. This is because of the many loopholes, subsidies, and accounting gimmicks available to its more influential corporate citizens from the corporate friendly government.
Friday, July 08, 2011
Tax Rises Could Save the U.S. Economy From Debt Default Bankruptcy / Politics / Taxes
By: Money_Morning
Martin Hutchinson writes:
As the debt-ceiling debate escalates, U.S President Barack Obama says federal tax increases are necessary to close the U.S. budget deficit.
Although Republicans then said that tax hikes were "off the table," this statement is reminiscent of a toddler who threatens to hold his breath until he turns blue if you make him eat spinach.
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Tuesday, June 28, 2011
The Dark Heart of Corporatism / Politics / Taxes
By: Jesse
A few seem to be waking up to the irony. A drumbeat of corporate persuasion that is noticeable to those outside the culture, and those who have switched off the propaganda feeds on the internet and in the mainstream media. But the illusion is unnoticed by those seeking an escape from complexity and the uncomfortable in simple solutions and slogans, quickly mouthed as a subtitute for thought.
Thursday, April 28, 2011
The Power to Tax Destroys Freedom, Prosperity and Market Efficiency / Politics / Taxes
By: Fred_Buzzeo
The landmark Supreme Court decision McCullough v. Maryland (1819) has had wide impact on the powers of the federal government. In fact, this decision, more than any other, is responsible for the incredible growth of federal authority throughout the years. Today, Washington has a tight grip on every aspect of our lives, and much of this federal intrusion is due to the "implied powers" doctrine that emanated from this court decision.
Friday, March 04, 2011
U.S. Taxpayers in Revolt / Politics / Taxes
By: Douglas_French
Jimmy John Liautaud, founder of the Jimmy John's sub chain, just applied to move his residence from Illinois to Florida — and his company's headquarters could soon follow. "All they do is stick it to us," he says of the state legislature's move to jack up the personal income tax from 3 percent to 5 percent — and the corporate income tax from 7.3 percent to 9.5 percent.
Wednesday, December 29, 2010
The Death Tax and Barney Frank / Politics / Taxes
By: LewRockwell
Stephen Cox writes: Yesterday I watched one of my favorite movies, The Bishop’s Wife (1947). It’s the story of . . . well, never mind; I don’t want to reveal the plot. Anyway, at the end of the movie, the bishop (David Niven) gives a brief Christmas sermon, in which he says that the best presents are "loving kindness, warm hearts, and the stretched out hand of tolerance – all the shining gifts that make peace on earth."
Saturday, December 18, 2010
The Tax Deal and Inflationary Macroeconomic Stimulus / Economics / Taxes
By: Dr_Jeff_Lewis
It is becoming increasingly difficult to divide the politics from the policy, but the new tax deal being negotiated between Congress and the White House will set the stage for serious economic stimulus (and inflation) in 2011 and beyond.
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