Truthdig - Tag - Tax Breaks

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Tag: Tax Breaks

Flickr/Tax Credits

How the U.S. Tax Code Benefits the Wealthy (and Screws Over Most Everyone Else)

One thing to remember on Tax Day 2013: It’s good to be a wealthy citizen in the United States. Thanks to tax breaks aimed specifically at those who make boatloads of money, the average rich person takes in an additional $250,000 in income each year. The rest of us? Not so fortunate.

Posted on Apr 15, 2013 READ MORE

Flickr/Andrew Feinberg

How Facebook Made a Billion Dollars, Paid No Taxes and Expects a Huge Refund

Despite making $1.1 billion after going public last year, Facebook didn’t pay a dime in state or federal income taxes in 2012. Instead, thanks to the social media company’s use of a single tax break, it anticipates getting a massive refund from the government totaling $429 million.

Posted on Feb 17, 2013 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

Dueling Fireworks Shows

RJ Matson, Cagle Cartoons, Roll Call —

Posted on Jul 4, 2011 READ MORE

Flickr / JoelK75

Boehner Pays Lip Service to Cutting Government Oil Subsidies

With gas prices still rising, House Speaker John Boehner has broken from traditional GOP rhetoric to voice his support for ending tax breaks to the oil industry.

Posted on Apr 26, 2011 READ MORE | 6 COMMENTS

Let’s Be Honest About Taxes

By Ruth Marcus —

We need to do something about tax expenditures, those spending programs disguised as tax breaks that cost us close to $1.2 trillion a year.

Posted on Aug 26, 2010 READ MORE | 12 COMMENTS

Obama Pushes His Budget Plan

In his weekly address, President Barack Obama makes the case for his proposed budget scheme, arguing that while it might rankle the likes of Washington lobbyists, it will deliver on the promises he made during his campaign.