This loophole must be closed. Corporate welfare is often camouflaged in taxes that seem neutral on their face but give windfalls to big entrenched corporations at the expense of average people and small businesses. Take a look at commercial property taxes in California, for example. Show More Summary
When voters endorsed Proposition 39 in 2012, they did so with the best of intentions. The measure closed a corporate tax loophole that had deprived the general fund of desperately needed cash - an estimated $1 billion a year - and had encouraged multistate companies to locate jobs outside of California.
Sanders' "responsible" estate tax has a $3.5 million exemption, top 65% rate, and closes "loopholes" like GRATs, dynasty trusts, even annual exclusion gifting.
Jerseynomics Close loopholes that let multinational companies shift profits to other countries: Lesniak says that's a way to add money to the budget without raising taxes. Smack up against the deadline: Today, legislative Dems expect to introduce their alternative budget, get it passed and on the Gov's desk by Thursday. Show More Summary
“All fair and square? Not really. For microbusinesses faced with the job of calculating myriad tax rates, the new regime is an administrative nightmare.”
By Jeff Mason WASHINGTON (Reuters) - President Barack Obama addressed U.S. struggles with class and race in personal terms on Tuesday and renewed his call to close tax loopholes enjoyed by wealthy hedge fund managers as a way to reduce poverty among Americans. Show More Summary
New York Times, Tax Break Used by Investors in Flipping Art Faces Scrutiny: Introduced in the 1920s to ease the tax burden of farmers who wanted to swap property, it soon became a tool for real estate investors flipping, say, office buildings for shopping malls. Now, this little-known provision in...
As Australia's Treasurer Joe Hockey makes plans to broaden the country's GST to include downloaded content, he has been warned against unilaterally closing tax loopholes for multinational companies without the support of the OECD.
Apple and Google clashed with Australian lawmakers over tax avoidance ahead of a meeting of G-20 finance ministers in Washington that aims to build global cooperation to close corporate tax loopholes.
March 24--Laketran General Manager Ray Jurkowski has developed a statewide proposal that he believes could help address the state's crumbling infrastructure and boost public and transit funding by closing a sales tax loophole on Internet...Show More Summary
By John Wright, columbiamissourian.com Sometimes we like loopholes. Maybe you’ve used one to get out of a traffic ticket or to pay a little less tax.
Sen. Bernie Sanders (D-VT) on Friday sent this letter to President Obama calling on him to use unilateral executive action to raise over $100 billion in taxes by closing six "loopholes": The Check the Box Loophole The Hewlett-Packard Loophole The REIT Loophole The Corporate Inversion Loophole The Carried Interest Loophole...
The Treasury Department has the legal authority to close some tax loopholes that Congress did not intend.
New York Times Deal Book: 8 Tax Loopholes the Obama Administration Could Close, by Victor Fleischer (San Diego): President Obama’s State of the Union address revealed a streak of assertiveness and defiance that had been sorely lacking in the tax policy world. The budget proposal for the 2016 fiscal year...
The Treasury Department has the legal authority to close some tax loopholes that Congress did not intend, writes Victor Fleischer in the Standard Deduction column.
It is hard not to notice that while policymakers are talking tax reform they are walking tax deform. The more they vow to lower tax rates and eliminate targeted tax preferences (close loopholes in Congress-speak), the more bills they push to create new subsidies or juice up old ones. Show More Summary
President Obama’s new proposal to tax capital gains at death is a welcome change that would close a huge loophole, but it suffers from a serious flaw: For some assets, it would be a record-keeping nightmare. Fortunately, there is an easy fix. Show More Summary
Last night during the State of the Union address, the president spoke briefly about taxes: “Let’s close the loopholes that lead to inequality by allowing the top one percent to avoid paying taxes on their accumulated wealth. We can use that money to help more families pay for childcare and send their kids to college. Show More Summary
The Senate’s top tax law writer accused President Barack Obama on Tuesday of undertaking “class warfare” with his plan to raise taxes on wealthier Americans to help the middle class. Republican Senator Orrin Hatch, chairman of the Senate Finance Committee, said the proposals Obama...
Death and taxes: Inevitable, but not always paired. President Obama wants to change that. In a wide-ranging tax plan he’ll highlight at tonight’s State of the Union address, he’d close “arguably the biggest loophole in the tax code for high-wealth households,” says TPC’s Len Burman. Show More Summary