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.
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.