“I will cut taxes – cut taxes – for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.”
- Barack Obama -
You rarely see anyone, even Democrats, offer up the idea of tax increases as a solution to economic contraction, but [...]
Tags: State Taxes · The Economy
“I am running for President of the United States to enable the Goddess of Peace to encircle within her arms all the children of this country and all the children of the world.”
- Dennis Kucinich -
Remember Dennis Kucinich? He’s the strange little Democrat who ran for President in 2008 on ideas that would have spooked Rod Serling.
Now [...]
Tags: Legislative Watch · Politics · The Economy
From the I-am-not-responsible-for-my-own-choices department, WebCPA reports that an Ohio man faced with foreclosure and outstanding tax liens on his business bulldozed his house to avoid turning it over to the bank:
Terry Hoskins bulldozed his home in Moscow, Ohio, after RiverHills Bank began foreclosure proceedings. “When I see I owe $160,000 on a home valued at $350,000, and [...]
Tags: News · The Economy
Senator Robert Casey, Jr. (D-PA) asked the Congressional Budget Office (CBO) for its input on ways increase employment by reducing payroll taxes. Here’s part of the CBO’s response:
This letter responds to questions you posed about policy options to increase employment by reducing employers’ payroll taxes for firms that increase their payroll.
CBO anticipated that firms would respond to a payroll tax [...]
Tags: Employer Issues · News · Tax Policy · The Economy
The purpose of this article is not to justify the payment of nine figure bonuses, but merely to put them in perspective.
Goldman Sachs is catching uber-flak from politicians and the public alike for planning to pay a $100 million bonus ¹ to its CEO, Lloyd Blankfein.
Keeping in mind that Goldman Sachs had a very good year in 2009 reporting profits of [...]
Tags: The Economy
The New York Times reports that the banking industry is not taking the proposal of a special bank tax lying down (emphasis added):
In an e-mail message sent last week to the heads of Wall Street legal departments, executives of the lobbying group, the Securities Industry and Financial Markets Association, wrote that a bank tax might [...]
Tags: News · Opinion · Tax Policy · The Economy
The Better Business Bureau has published it’s annual list of the top scams and rip-offs used by human parasites to take advantage of consumers and small business owners across the U.S. in 2009.
Here they are in no particular order:
Acai Supplements and Other “Free” Trial Offers – Ads offering trial offers for teeth whiteners, acai anti-aging pills and other miracle [...]
Tags: Announcements · The Economy
Last April IRS Commissioner Doug Shulman told the National Press Club that tax season actually stimulates the economy. Here it is:
I concede that in March and April people probably shop with their tax refunds, but the idea that tax season – a time when Americans pay the government billions of dollars of their hard-earned money – is an [...]
Tags: The Economy
For decades fiscal conservatives have been saying that high tax rates cause the economy to contract. When they haven’t been laughed at by the left they’ve been called greedy and heartless. Now it looks like even the left is beginning to think that across-the-board tax cuts are good for the economy and government stimulus spending, [...]
Tags: Tax Policy · The Economy
Tax News reports that Chuck Grassley, the senior Republican on the Senate Committee on Finance, has called on the White House and Democratic congressional leaders to boost the economy by lowering small businesses’ tax burden:
According to Grassley, an analysis by the Republican tax staff of the Finance Committee found that less than one-half of 1% [...]
Tags: Tax Policy · The Economy
Wall Street Journal – Taxes Blog
