David Wessel: If government taxes businesses that are legally organized one way at a lower rate than businesses organized another way and it’s easy to switch, people will switch.
Will the Google-UK tax deal change corporate behavior? UK Business Secretary Sajid Javid says the government has closed over 40 tax loopholes but that more work needs to be done. He expects the Google deal—a settlement in which the firm will pay the UK $185 million in back taxes—will help change companies’ attitudes about taxation. Show More Summary
IN THAT CASE, I’M SURPRISED OBAMA HASN’T PUSHED HARDER ON THIS: Megan McArdle: Closing Tax ‘Loopholes’ Would Choke the Middle Class. Paying for new spending by “closing the loopholes” is a favorite rallying cry of almost everyone. But rarely are those people picturing giving up their own deductions for mortgage interest, employer-sponsored health insurance, dependent […]
New York Times, Hospitality and Gambling Interests Delay Closing of Billion-Dollar Tax Loophole: In the span of a mere 11 days this month, $1 billion in future federal tax payments vanished. As congressional leaders were hastily braiding together a tax and spending bill of more than 2,000 pages, lobbyists swooped...
Hospitality and Gambling Interests Delay Closing of Tax Loophole | Frank Quattrone’s Comeback
NYT: In the span of a mere 11 days this month, $1 billion in future federal tax payments vanished. As congressional leaders were hastily braiding together a tax and spending bill of more than 2,000 pages, lobbyists swooped in to … Continue reading ?
Lobbyists recently swooped in to add 54 words to a tax and spending bill of more than 2,000 pages that temporarily preserved a loophole sought by the hotel, restaurant and gambling industries, and billionaire Wall Street investors.
Just in time for holiday party season, there’s a new drinking game certain to make things more jolly. It works like this: Every time Speaker of the House Paul Ryan says “tax reform,” “close loopholes,” “simplify the tax code,” “lower rates,” or “broaden the base,” Americans have to drink. Show More Summary
Health experts at Johns Hopkins Medicine are calling on lawmakers and regulators to close loopholes in the Orphan Drug Act they claim give drug companies millions of dollars in unintended and misplaced subsidies and tax breaks and fuel skyrocketing medication costs. read more
Legislators are calling on the Department of Justice to close this loophole. The post BP Could Get A Huge Tax Break On Its Oil Spill Settlement appeared first on ThinkProgress.
Wall Street Journal, G-20 Leaders Set to Approve Overhaul of Corporate-Tax Rules: A push to close international corporate-tax loopholes is expected to spur competition for lower rates overseas and increase pressure in Washington for a bipartisan deal to revamp the corporate-tax code. Leaders from the Group of 20 largest economies,...
As I write this the Democratic debate is still going on, but they seem to have covered the tax part. There was not a lot there. Hillary Clinton said that the middle class needs to be paying less and that she would close loopholes and eliminate some deductions. Go to [...]
Budgets are made up of spending and revenue. But budget negotiators in Washington are talking only about what spending to cut, not what revenue to raise--even though there are gaping tax loopholes to close. Closing them would eliminate...Show More Summary
Appearing on FOX News just one week after boycotting the network, Donald Trump was stumped to name any tax loopholes beyond carried interest that his tax...
This is a guest post by Lukas Ross from Friends of the Earth. Big Oil has been subsidized to the hilt for over a hundred years. In the U.S. the spoils include everything from special interest tax breaks and accounting gimmicks to royalty-free leasing and government sponsored R&D. Show More Summary
Donald Trump is threatening to release a tax plan that will make the “hedge fund guys” angry with him, because it will require them to “pay more.” Jeb Bush’s tax plan closes the “carried interest” loophole, which allows investment income to be taxed at a lower rate. Bush’s overall plan would give a huge windfall […]
Hint: Democrats have been talking about it for a while.
As kids go back to school, Mayor de Blasio insists the rich should "pay their fair share" to improve education. Thursday afternoon, Mayor de Blasio and Brave New Film's Robert Greenwald presented a short film, Hedge Fund Billionaires vs. Show More Summary
Dude, your like my shadow. Jeb! unveiled his tax proposal Wednesday and, for a millisecond, it looked like he might "close loopholes" and "raise taxes" (gulp) on rich people (gasp). Conservative anti-tax activists were worried by his...Show More Summary
Mr. Bush proposed to eliminate some tax brackets and curtail valuable deductions and the carried interest tax loophole that have enriched investment managers for years.