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It's hard to raise a lot of tax revenue

(May 31, 2016 05:53 PM, by Scott Sumner) Matt Yglesias has a new post pushing back against the claim that a Universal Basic Income (UBI) program is too expensive to be practical in the US: Let's rerun the numbers with a little more precision, though we won't change... (0 COMMENTS)

The Puzzling Policy of Foreign Tax Credits

This month, the Australia Institute released a report that argues persuasively that a substantial portion of Australia’s corporate income tax cuts will simply end up resulting in increased revenue for the U.S. Treasury. As the report explains: Foreign companies have to pay tax in their place of residence and that complicates matters. Show More Summary

Ottawa posts deficit for fiscal year

Personal and corporate income tax revenue fell in March The post Ottawa posts deficit for fiscal year appeared first on Macleans.ca.

Plunging Personal Income Tax Revenues Slam State Budgets In April

This April, personal income tax revenue fell by an average of 9.88 percent compared to the same period last year in the 32 states for which Reuters has data (Puerto Rico as well). April is the most important revenue month for statesShow More Summary

Do higher taxes drive millionaires to flee?

New insights help answer the question of whether hiking income taxes on the wealthy pushes them elsewhere

ClearTax Gets $2M in Series A Funding from Sequoia Capital India and Peter Thiel’s Founders Fund Angel

ClearTax, India’s leading Income Tax Returns e-filing website, has raised $2 million in a series A round of funding from venture capital firms

Everything You Need to Know About Child Tax Credits

Depending on your income, you may be eligible for a child tax credit of up to $1,000 per child. Remember that unlike a tax deduction, a tax credit is a dollar-for-dollar reduction in your tax bill. Sound good? Here's what you need to know about the child tax credit, from the eligibility requirements to how to claim it. Show More Summary

Working from Home: 3 Healthy Truths No One Tells You

Pin it I received some excellent pieces of advice when I started my freelance writing business. “Maybe line up some actual work before you quit your day job!” was one. “Hire a certified tax accountant to mock your income!” was another. Wise words all. But three years later, I realize there were some crucial health-related insights I didn’t hear—and wish I had. READ MORE »

Lyft vs. Uber: Lyft Doesn’t Actually Report Most Driver Income to the IRS

Whether or not you receive a tax statement for funds you receive doesn't actually affect the tax you owe. It's a big deal in frequent flyer circles that Citibank has in the past reported bank bonuses on a 1099. The IRS knows that value...Show More Summary

Why the Self-Employed Are Smarter Than You

Who pays a greater share of their income in taxes — Warren Buffett, or his administrative assistant? Obviously, posing the question implies its answer. Politicians may tout the virtues of our “progressive” tax system, but it doesn’t really favor the poor over the rich. Nor does it favor the rich over the poor, not when […]

An Open Letter to Donald Trump: Release Your Tax Returns to the Public

It is critical that candidates for the highest office in the land release their income tax returns for multiple years, especially you Mr. Trump. After all, you are running for president based on your wealth and business ability. AndShow More Summary

Switzerland To Vote on 2500 franc/mo Basic Income

``The proposal is opposed by the government, which says the stipend would mean higher taxes, create disincentives to work and cause a skills shortage. The economy is already hamstrung by the franc's strength, with businesses warning they'll move production to less pricey locations to reduce costs. Show More Summary

Lunch Links: Tennessee Repeals Hall Tax, Sanders Spending Plans, Puerto Rico on Calendar

Today is May 23, the date in 1938 when the U.S. Supreme Court upheld the imposition of federal income tax on state employees in Helvering v. Gerhardt. Conceding that McCullough v. Maryland in 1816 ruled that states couldn’t tax the federal...Show More Summary

Hillary Clinton: Donald Trump's Tax Returns Would Reveal He Pays No Income Tax

Hillary Clinton reiterated her call for Donald Trump to release his tax returns, suggesting that they would reveal he doesn’t pay federal income tax. “If you’ve got someone running for president who’s afraid to release his tax returns,...Show More Summary

Trump Once Revealed His Income Tax Returns. They Showed He Didn’t Pay A Cent

The last time information from Donald Trump’s income-tax returns was made public, the bottom line was striking: He had paid the federal government $0 in income taxes. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

Liberal Media’s Latest Hit Piece: Donald Trump Paid No Income Taxes …BACK IN THE 1970s

Here we go- like clockwork – last weekend the liberal media tried to hit Donald Trump with a fabricated hit... The post Liberal Media’s Latest Hit Piece: Donald Trump Paid No Income Taxes …BACK IN THE 1970s appeared first on The Gateway Pundit.

Donald Trump Taxes: Mogul Paid No Taxes In Late ’70s, Refuses To Release Recent Tax Returns

Donald Trump summarily and unapologetically refuses to release information about his taxes. He’s been called on repeatedly to release recent income tax returns, but to no avail. Trump has cited an ongoing audit as a reason why he refuses to release his taxes, but an unguarded statement from The Donald to George Stephanopoulos might be... Show More Summary

For 2 Years, Trump Paid No Federal Taxes

In 1978 and 1979, Donald Trump paid no federal income tax, according to a New Jersey government report obtained by ABC News. Trump claimed negative income in both those years: losses of $406,379 in 1978 and $3,443,560 in 1979. In 1975,...Show More Summary

How Trump’s business tax filings contradict his claims about his net worth

While his personal income tax returns remain unknown, his business dealings could give a glimpse into the candidate’s personal tax history. Continue reading ? The post How Trump’s business tax filings contradict his claims about his net worth appeared first on PBS NewsHour.

Trump's 1978 & 1979 tax payments: $0

Back in the late 1970s, around the time Donald J. Trump was proclaiming he was worth more than $200 million, two federal tax returns showed his income as -$3.8 million -- yes, that's a minus sign, not a dash -- meaning Trump was in the hole as for his earnings. Show More Summary

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