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Tag: Tax


Shutterstock

Just One Hedge Fund Dodged $6 Billion in Taxes, Senate Committee Finds

Sen. Carl Levin’s Subcommittee on Investigations looked into some shady banking practices and reported that a hedge fund of Renaissance Technologies LLC found a clever way of cheating the IRS.

Posted on Jul 21, 2014 READ MORE



AP Images

Elizabeth Warren’s Bill Could Mean Billions for Taxpayers

Sen. Elizabeth Warren has teamed up with Republican Sen. Tom Coburn of Oklahoma to introduce a bill that takes aim at the efficacy and malfeasance of government settlements on corporate wrongdoing and could bring billions of dollars back to taxpayers. If corporations have the same rights as people, then they should have to suffer the same consequences.

Posted on Jan 13, 2014 READ MORE



Matt McGee (CC BY-ND 2.0)

Dirty Secret of Some Pro Sports Leagues: They’re Nonprofits

There’s a ripple of movement in Congress to strip nonprofit status from pro sports businesses such as the NFL and PGA, raising fresh questions about why taxpayers should support billion-dollar entertainment industries.

Posted on Sep 12, 2013 READ MORE



Shutterstock photo of a man holding money.

Americans Suffer While Finance Tax Waits for Congress’ Attention

The Financial Transaction Tax, or Robin Hood Tax, would generate more than $300 billion a year in revenue, thereby doing away with the need for the sequester currently forcing across-the-board budget cuts.

Posted on Apr 24, 2013 READ MORE



AP/Mark Lennihan

If Corporations Don’t Pay Taxes, Why Should You?

The U.S. government exists primarily to make the world safe for multinational corporations, but those firms feel no obligation to pay for that protection in return.

Posted on Mar 12, 2013 READ MORE



Flickr/401(K) 2012

Study: Tax Cuts for Rich Not Path to Economic Growth

Contrary to what conservatives have been pushing, reducing taxes for the wealthiest Americans will not grow the economy. However, according to a new study by the Congressional Research Service, it does help to create income inequality.

Posted on Sep 17, 2012 READ MORE



(CC-BY-SA)

Krugman: What Is Wealthy Mitt Hiding?

“Like father, like son” the old saying goes. But according to New York Times columnist Paul Krugman’s latest Op-Ed, Mitt Romney is nothing like George Romney, as far as wealth and the disclosure of it are concerned. And that is not a good thing.

Posted on Jul 9, 2012 READ MORE


Obamacare Tax

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Posted on Jun 29, 2012 READ MORE


It’s a Tax!

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Posted on Jun 28, 2012 READ MORE



Flickr / Gage Skidmore

Ryan Budget Plan Clears House Vote

It’s been quite the eventful week in Washington, no? In case the health care hullabaloo at the Supreme Court didn’t bring enough action to our nation’s capital, over in the halls of Congress there was an equally heated debate about Rep. Paul Ryan’s Republican-backed budget plan, which the GOP-heavy House passed Thursday.

Posted on Mar 29, 2012 READ MORE


America, Meet the Mouth of John Burton

California Democratic Party Chairman John Burton has a certain way of talking that is familiar and even entertaining to those who know him, but “The Daily Show” seemed genuinely shocked to discover a politician who doesn’t give a shit about our Victorian sensibilities.

Posted on Dec 6, 2011 READ MORE



Flickr / Gage Skidmore (CC-BY-SA)

And Now, Another Gimmicky GOP Tax Plan

He calls it a “flat tax,” but some analysts have noticed a few bumps in Rick Perry’s catchy “20-20” tax plan. Perhaps feeling the heat from recent gains made by a certain GOP presidential contender with his own numerological tax scheme who may or may not hail from Florida … (more)

Posted on Oct 25, 2011 READ MORE



Flickr / epSos.de

Demanding More of the Wealthy

If you’re tuned into your social surroundings, you’re likely to hear people arguing over whether raising taxes on the rich would be a good thing or a bad thing for Americans. With election season on its way, the noise and volume are bound to rise. (more)

Posted on Sep 26, 2011 READ MORE



Flickr / planetc1 (CC-BY-SA)

Amazon Wins Tax Break, California Wins Jobs

Amazon.com struck a deal with California on online sales taxes Friday, agreeing to create thousands of jobs in exchange for a one-year reprieve from collecting state sales taxes. (more)

Posted on Sep 24, 2011 READ MORE



Flickr / Pink Sherbet Photography

Video Game Companies Cash In on Tax Tokens

American video game developers are benefiting from an odd combination of tax breaks many analysts say are intended to encourage industries that serve the public good by providing broadly valuable social services. (more)

Posted on Sep 11, 2011 READ MORE



AP / Jacques Brinon

Les Riches Attempt to Pull a Buffett

Sixteen of France’s wealthiest people have pulled a Warren Buffett and asked to be taxed more in order to help pay for the nation’s growing debt.

Posted on Aug 24, 2011 READ MORE



Flickr / doug88888

The Real Cause of America’s Debt Crisis

Over the past century, America’s rich made their millions and billions through the use of public assets shared by everyone. By virtue of those profits, they have not only a moral, but a rational obligation to pay more for the upkeep of public services. (more)

Posted on Jul 25, 2011 READ MORE



Wikimedia Commons/Jessica Rinaldi (CC-BY)

Romney’s First Plan as President: Nix Obamacare

Demonstrating that peculiar Republican penchant for believing that the free market solves all that ails our nation, GOP presidential hopeful Mitt Romney proclaimed in an Op-Ed on Wednesday that he’d do away with the current president’s hard-won health care legislation ... (more)

Posted on May 11, 2011 READ MORE



Flickr / thebigo

Infamous Colorado Anti-Tax Crusader Is Busted

True to form, the man who was instrumental in passing a radical anti-tax amendment to Colorado’s constitution got picked up by police on charges of tax evasion and fraud. (more)

Posted on May 2, 2011 READ MORE


Tax the Rich

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Posted on Apr 25, 2011 READ MORE



democracynow.org

Truthdigger of the Week: Joseph Stiglitz

This week we tip our hat to Nobel Prize-winning economist Joseph Stiglitz, who once helped calculate the true cost of the Iraq War, and more recently has been calling attention to the radical redistribution of wealth from middle- and working-class Americans to the richest among us.

Posted on Apr 8, 2011 READ MORE


window shoppers
flickr/specialkrb

Americans Are Spending Again

Is it good news that U.S. consumer spending revved up to a three-year high in 2010? It could make for some improvement, especially if employment picks up to bolster Americans’ consumption habits in coming months, according to the BBC.

Posted on Jan 31, 2011 READ MORE



AP / Alessandro Della Bella

Swiss Banker to Give Bank Data to WikiLeaks

A former Swiss banker is set to hand over even more financial data to WikiLeaks. Rudolf Elmer, a former Julius Baer employee, claims he has data on how the mega-rich have used offshore accounts and institutional loopholes to avoid tax payments.

Posted on Jan 16, 2011 READ MORE


Left, Right & Center

‘Left, Right & Center’: What a Wiki-Week It Was

What WikiLeaks revealed might have embarrassed some bigwigs around the world, but will the released information really hurt U.S. interests? America’s jobs outlook is still heading downward as the unemployment benefits of thousands expire. Does the deficit matter more than people do?

Posted on Dec 3, 2010 READ MORE


The Rich Get Going

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Posted on Nov 15, 2010 READ MORE


Obama Tax Speech
AP

Obama Open to Tax Cut Compromise

With his proverbial political tail between his legs, President Barack Obama has articulated his clearest signal yet that he is open to a post-midterm compromise with newly empowered Republicans that would sustain some parts of the Bush-era tax cuts, which are set to expire at the end of 2010.

Posted on Nov 6, 2010 READ MORE



Flickr / futureatlas.com (CC-BY)

Fannie Mae and Freddie Mac Run Up Huge Tab for Taxpayers

So, remember that whole bailout thing that began a couple of years ago? It’s not over yet, at least not when it comes to those delinquent housing giants Fannie Mae and Freddie Mac. According to new government projections, the Fannie and Freddie bailout fiasco could ... (continued)

Posted on Oct 21, 2010 READ MORE



cityofbell.org

Audit Time for Bell

The city of Bell, Calif., drew quite a bit of unwanted attention to itself last summer with the revelation that several top officials were pocketing ridiculously high salaries at the expense of its citizens. Now it’s looking like payback time, as the Los Angeles County Board of Supervisors is on the case.

Posted on Oct 19, 2010 READ MORE


Nancy Pelosi
speaker.gov

Dems Punt on Tax Cuts

After weeks of failed politicking, the Democrats have punted on tax cuts for the middle class until after the November midterm elections, succumbing to the fact that they do not have enough GOP support to push through a bill that has no accompanying tax cuts for the wealthy.

Posted on Sep 26, 2010 READ MORE



Flickr / seastoxfam

‘Robin Hood Tax’ Gains Currency

A leaked IMF report shows that there is growing international backing for a tax on bank profits, part of what has been dubbed a “Robin Hood tax” that, if ultimately agreed upon, would raise money to help those pushed deeper into poverty by the global financial crisis and to restore public services.

Posted on Sep 5, 2010 READ MORE


Deepwater Horizon
AP / Petty Officer 2nd Class Scott Lloyd, U.S. Coast Guard

Oil Companies Awash in Subsidies

As the government weighs a tax on petroleum production to help pay for the Gulf spill cleanup—and as oil companies cry foul—a quick analysis of the U.S. tax code shows the oil industry to be one of the country’s most heavily subsidized.

Posted on Jul 4, 2010 READ MORE


American Excellence
AP / Mike Derer

New Jersey: Ding the Poor or Tax the Rich?

Cut services for poorer senior citizens and the disabled or tax the rich? That’s the question that will be debated in the New Jersey Legislature on Monday as the state maneuvers to balance a budget deficit of close to $11 billion.

Posted on Jun 20, 2010 READ MORE



Flickr / alancleaver_2000 (CC-BY)

Why You Should Want to Pay Higher Taxes

The notion that taxes are bad for the middle class is akin to the notion that cigarette smoking is harmless, and it should be dealt with by similar means.

Posted on Apr 14, 2010 READ MORE


Stop Slandering the IRS

Every April the Web and the commentary pages overflow with sweeping falsehoods that libel the work of committed federal employees, such as Vernon Hunter, the Vietnam veteran who was recently murdered by an anti-tax terrorist.

Posted on Apr 14, 2010 READ MORE


tea party
Flickr / ajagendorf25

Tea Party-GOP Relations Show Signs of Strain

Tea party loyalists may be situated at the right side of the political spectrum, but that doesn’t mean the upstart political movement is an adjunct to the Republican Party, no siree. As it evolves, the loosely unified conservative coalition may be moving farther away from the GOP’s orbit.

Posted on Mar 22, 2010 READ MORE



youtube.com

Rewriting History Texas-Style

Texas’ Board of Education has approved a new social studies curriculum with a conservative seal of approval. After three days of debate the board voted to change the curriculum to explicitly present Republican philosophies and conservative leaders in a more positive light.

Posted on Mar 13, 2010 READ MORE


The Tax War Goes Online

Amazon has sent a message to states buckling under budget deficits: If you make us play by the same tax rules as other businesses, we’ll punish you.

Posted on Mar 11, 2010 READ MORE


IRS logo
Wikimedia Commons / U.S. Department of the Treasury

Hazmat Teams Called to IRS Building in Utah

A “suspicious substance” caused a ruckus at an Internal Revenue Service outpost in Ogden, Utah, on Monday, and hazardous materials crews and the FBI were called in. Later, an official said the substance was found to pose no danger ... (continued) Updated

Posted on Mar 1, 2010 READ MORE


Limbaugh
AP / Chris Carlson

Limbaugh Politicizes Haiti Aid, Warns About Donating

Rush Limbaugh’s not one to miss an opportunity to diss the Obama administration, and in his latest class act the conservative radio impresario was nothing if not consistent. Not only did Limbaugh warn against sending money to Haiti via the White House, he also used American racial politics to explain the president’s impulse to help. What’s more, he seemed to suggest that listeners not donate to Haiti at all—although he denied later that this was his intention.

Posted on Jan 15, 2010 READ MORE



commons.wikimedia.org / Ramy Majouji

Obama Wants a Wall Street Recovery Tax

President Barack Obama wants to slap a new tax on the country’s largest financial institutions in an ostensible attempt to “recover every single dime” given away in 2008’s Wall Street bailout. The tax was met with predictable fat-cat jeers, despite the fact that the industry has largely recovered from the crisis. 

Posted on Jan 14, 2010 READ MORE



Flickr / Kalavinka

IRS Unit Aims at Deep Pockets

An Internal Revenue Service unit is being developed to catch wealthy tax cheats who find ways to hide their assets in different businesses and accounts. The new unit reportedly has hired hundreds of employees to combat international tax evasion.

Posted on Dec 12, 2009 READ MORE


home sales

Home Sales Jump 10.1% in October

Other market sectors are another story, and this story may also change in coming months, but let’s have some good news about the residential real estate market, shall we? Right: The Associated Press is reporting that home sales rose more than 10 percent in October from their September levels, largely due to tax incentives, and November may continue along this trend.

Posted on Nov 23, 2009 READ MORE


employment
haldimandcountyhydro.ca

White House: Stimulus Made, Saved Nearly 650,000 Jobs

The White House sounded a triumphant note Friday about the success of the economic stimulus in salvaging and creating close to 650,000 jobs in recent months, but some Republicans, along with the AP, are questioning the accuracy of the government’s figures.

Posted on Oct 30, 2009 READ MORE


Sarkozy
guardian.co.uk

Environmentalists Assail French ‘Green Tax’

A plan by French President Nicolas Sarkozy to slap a “carbon tax” on all forms of energy except electricity has met both popular resistance and activist snubbing. Two-thirds of French voters oppose such a tax, and environmentalists have chimed in to condemn it as halfhearted and wimpy.

Posted on Sep 13, 2009 READ MORE


Gibbs
AP / Alex Brandon

White House: No Tax Hikes for Middle Class

On Monday, after two of President Obama’s economic sidekicks, Treasury Secretary Timothy Geithner and National Economic Council Director Lawrence Summers, made noises over the weekend about the possibility that middle-class Americans may pay higher taxes in the near future, the White House went into damage control mode.

Posted on Aug 3, 2009 READ MORE


Wall St.
Flickr / David Paul Ohmer

The Wall Street-Health Care Connection

When I heard Senate Finance Committee Chairman Max Baucus, D-Mont., floating the idea of a tax on health benefits in order to raise revenue for health-care reform, I was baffled; how could this be?

Posted on Jul 23, 2009 READ MORE


Obama
whitehouse.gov/video/

Obama on Health Care: ‘We Are Going to Get This Done’

Despite rumblings from detractors on both sides of the aisle, President Barack Obama held his ground as he held forth about health care reform in a speech at the White House on Friday afternoon, declaring that he was “absolutely convinced” that substantial changes to the system will be made this year.

Posted on Jul 17, 2009 READ MORE


Benjamins
Wikimedia Commons/Revisorweb

U.S. Budget Deficit Climbs to Over $1 Trillion

America’s spend-a-thon has brought some inevitable consequences, not the least being that we now are looking at a federal budget deficit of more than $1 trillion for the first time ever, and that number is projected to nearly double by October.

Posted on Jul 13, 2009 READ MORE


California’s Silent Big Spenders

Instead of making the positive case for big government, or at least beginning to explain, let alone defend, what Sacramento does with all that money, California’s political class has instead opted for a four-pronged strategy: deny, scare, attack, then call for higher taxes.

Posted on May 28, 2009 READ MORE


Boehner
AP photo / Evan Vucci

House Passes Bonus Tax Bill

After the top brass at AIG couldn’t be stopped from dishing out $165 million in bonuses to executives who didn’t exactly deserve gold-star treatment, Congress is attempting to recoup most of the money by slapping a 90 percent tax on such executive windfalls.

Posted on Mar 19, 2009 READ MORE


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