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Tag: Taxes
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What Happened After This Blue State Introduced an Income Tax to Balance Its Budget

Posted: September 16, 2016 at 1:10 pm   /   Friends

In 1991, Connecticut Gov. Lowell Weicker decried the state’s “orgies of spending,” and said his income tax proposal – that would include fiscal discipline – would balance the books. Connecticut recently marked the 25th anniversary of the income tax, which has resulted in little to no spending restraint. State spending grew 71 percent faster than […]

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Ahead of Vote on Impeachment of IRS Commissioner, Freedom Caucus Pushes Republicans

Posted: September 14, 2016 at 2:41 pm   /   Friends

Conservatives who belong to the House Freedom Caucus are trying to corner any Republicans thinking twice about impeaching the head of the Internal Revenue Service. They’ve framed the debate as a strict binary, telling fellow members of the GOP that they either can be with conservatives or with the IRS. Skipping the regular committee process, the Freedom […]

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The Astonishing Amount of Taxpayer-Financed Loans That Have Gone to Failed Businesses

Posted: September 9, 2016 at 2:45 pm   /   Friends

Small businesses are America’s backbone. They employ more than half of America’s workforce, and for every large business (more than 500 employees), there are 1,500 small ones. Most small business owners—those who risked their own money to start their business—would be shocked to hear that the government’s Small Business Administration has written off $17.5 billion […]

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‘Just a Charade’: House Conservatives Decry IRS Chief’s Capitol Hill Visit

Posted: September 7, 2016 at 4:05 pm   /   Friends

Internal Revenue Service Commissioner John Koskinen made the rounds Wednesday on Capitol Hill to discuss his potential impeachment, meeting with two of the largest GOP House caucuses. Members of the conservative House Freedom Caucus were furious about Koskinen’s visits with lawmakers who belong to the moderate Tuesday Group or the conservative-leaning Republican Study Committee. These conservatives have […]

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Back Again: This Time Obama Administration Wants a Taxpayer Bailout for Puerto Rico

Posted: September 2, 2016 at 11:34 am   /   Friends

Less than two months after Congress passed a package aimed to provide financial relief for Puerto Rico, the Obama administration is already at it again—this time seeking an outright taxpayer bailout for the U.S. territory through additional Medicaid funds and access to the earned income tax credit. Why does Puerto Rico need help? After decades […]

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Goodlatte’s Internet Sales Tax Plan Is Better, but Still Falls Short

Posted: August 29, 2016 at 2:04 pm   /   Friends

House Judiciary Chairman Bob Goodlatte, R-Va., has reignited the debate over state taxes on out-of-state (mostly internet-based) sales in releasing draft legislation to allow such sales to be taxed under simplified rules. The bill—the Online Sales Simplification Act of 2016—is a marked improvement over the fatally flawed Marketplace Fairness Act which the Senate passed in 2013. […]

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The Sneaky Way Obama Is Hiking Death Taxes

Posted: August 17, 2016 at 8:26 am   /   Friends

President Barack Obama isn’t afraid to enact his agenda over the will of Congress. At this late stage in his presidency, he’s still overreaching his authority to push through an agenda; his most recent overstep being an effort to unilaterally raise the federal estate tax. Conservatives have successfully lessened the impact of the estate tax, […]

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These Tax Code Changes Could Save Average American Families Around $4,000 a Year

Posted: August 4, 2016 at 3:06 pm   /   Friends

It’s a nuisance when an ATM charges you money to take money out. Imagine having to pay 31 cents for every dollar you withdraw. That’s how much it costs U.S. businesses to comply with the byzantine corporate income tax code. Taxpayers–businesses and individuals–are spending an enormous amount of time and money simply figuring out how much […]

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Soaring Business Taxes Hurt America’s Ability to Compete

Posted: August 4, 2016 at 2:01 pm   /   Friends

Countries around the world have made maintaining low corporate tax rates, as well as reducing rates, a priority in recent years. Meanwhile, the United States has stood on the sidelines. As a result, the U.S. now has the highest corporate tax rate in the developed world, exceeding the Organization for Economic Cooperation and Development average by […]

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