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House Does End-Run Around the Senate To Pass Income Tax Cuts Anyway

Yesterday the potential for personal and corporate income tax cuts looked pretty grim. The Senate took a $152 million tax cut proposal sent to them by the state House and watered it down to just a $33 million reduction, and then killed it anyway. Clearly, the Senate has lost its appetite for income tax cuts,...

Weekly Tax Roundup

Al Jazeera, How Much Do You Know About Income Tax?, by David Cay Johnston Bloomberg, America’s Most-Wanted Swiss Bankers Aren’t Hard to Find; At Least 21 Financial Advisers in Switzerland Charged With Aiding American Tax Dodgers Are at Large Bloomberg, Rubio Defends His Tax Overhaul Against Criticism From All Sides...

Which Companies Paid The Most Income Tax In 2014

Apple's market capitalization of $730 billion may now be more than double that of Exxon Mobil, but when it comes to taxes paid to the US government, it's no contest: the company with record profitability that so many progressive hipsters...Show More Summary

"Should You Get Married (Or Divorced) For Tax Reasons?"

Do the math.Whether you get a tax bonus by being married or end up paying the marriage penalty depends on how much income you and your partner make and how it’s divided between you. Type your own numbers in [at the link] to see how marriage...Show More Summary

The Minimum Wage: To Raise Or Not To Raise?

On the same day Americans were required to file their federal income tax return, an army of protestors were engaged in a well-coordinated effort to get the government to raise the minimum wage. In this article, we'll discuss why this effort has a high probability of failing and what it could ultimately mean to the U.S. job market.

Cut Taxes or Expand Medicaid? Florida Governor Rick Scott Is in Quite a Pickle.

The Florida state government has been a hotbed of resistance to Obamacare, and has succeeded in beating back the law’s Medicaid expansion, in large part because of the state's Low Income Pool: a multi-billion dollar, 10-year-old pilot program through which, right now, the federal government

House GOP passes 'Death Tax Repeal Act'

House Republicans passed the "Death Tax Repeal Act," which would bring an end to the inheritance tax. In this time of growing income inequality, is this bad...

While Swiss bankers indicted in U.S. tax-evasion probe remain at large, whistleblower went to jail

It seems like the ultimate irony. At least 21 Swiss bankers under U.S. indictment for helping Americans skirt income taxes remain at large in their native country and out of the hands of prosecutors, reports Bloomberg. But the whistleblower...Show More Summary

House votes to make local sales tax deduction permanent

WASHINGTON (AP) — The House has voted to make permanent a deduction for state and local sales taxes that expired at the beginning of the year. The tax break helps people who live in the nine states that don't have a state income tax on wages.

Video: North Dakota Senate Says No To Income Tax Cuts

If you want to understand how concerned state lawmakers are with falling tax revenues thanks to lagging oil production, tracking the path of the income tax issues is a good way to illustrate it. The process started in the state House with one proposal calling for the elimination of the income tax, an $820 million...

Where the money is… or was

Today was Tax Day in the United States, when we file our federal income tax returns. This has been an odd tax season in America for reasons that aren’t at all clear, but I am developing a theory that cybersecurity failures may shortly bring certain aspects of the U.S. Show More Summary

Why It's Absolutely Crazy That We Don't Ask Millionaires to Pay More Taxes

This is just a stray, late-on-April 15 th thought, but isn’t it kind of insane that we don’t ask millionaires to pay more in taxes? I mean, much, much more? Today, the top marginal income tax rate is 39.6 percent. Why not go to 50? Or...Show More Summary

Believe It Or Not, These Companies Pay No Taxes

We’ve all heard of corporate companies trying to minimize their taxes by reducing their income or increasing expenses on paper.  But I could hardly believe my eyes when I read this report by Citizens for Tax Justice on which companies... The post Believe It Or Not, These Companies Pay No Taxes appeared first on.

New 'Middle Class Economics' Plan to Cut Taxes, Help Families - Obama

Obama claims that the "Middle Class Economics” program will cut taxes for more than 40 million middle income families and will help them find success in the US economy.

Celebrities with tax problems

3 days agoNews : NY Daily News

It's that time of year again! From committing tax fraud to 'forgetting' to pay up on income tax, check out which stars got into big trouble with the IRS.

How the Government Spends Your Tax Dollars

It’s tax day today. The federal government collected over $3 trillion in taxes in 2014, according to the Office of Management and Budget, with $1.4 trillion coming from individual income taxes and another $1 trillion from payroll taxes. For...Show More Summary

Shay Presents Designing a U.S. Minimum Tax on Foreign Business Income Today at Penn

Stephen Shay (Harvard) presents Designing a U.S. Minimum Tax on Foreign Business Income (with Cliff Fleming (BYU) & Robert Peroni (Texas)) at Pennsylvania today as part of its Tax Law and Policy Workshop Series hosted by Chris William Sanchirico and Reed Shuldiner: This paper continues an exploration of second best...

Beth & Taxes: Finding Love at the IRS

3 days agoHumor / odd : Neatorama

(YouTube link) Have you filed your income tax return yet? April 15th is the deadline, you know. It might be the most awful day of the year for tax procrastinators, but not for everyone. It’s a red letter day for Ben and Beth, in this romantic comedy trailer from Nacho Punch. -via Boing Boing

Do Federal Taxes Reduce Income Inequality?

These Legos make depressingly clear just how much money the top 1 percent has Source: Vox

Why Taxing Capital Income Makes Sense

Rising income inequality has had an adverse impact on tax revenues. Income inequality is rising not only because wage inequality has been rising but also because capital income inequality has been rising. High-income individuals own the great majority of capital …

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