Put simply, a tax shift means to cut one tax and replace it with another—such as to cut income and/or payroll taxes, and put a carbon price in their place. This is called a “tax swap” or “revenue neutrality,” and a diverse group of stakeholders--ranging from Citizens Climate Lobby to ExxonMobil--are coming out in support of it. Show More Summary
I am viewed as being an opponent of fiscal stimulus, but I’ve always argued that an employer-side payroll tax cut would “work.” It just seems kind of pointless. If it’s a lower W/NGDP ratio that you need, just boost NGDP! Christina Romer has also advocated this sort of payroll tax cut. It lowers a country’s […]
Payroll may well be the unsexiest aspect of running a business. Unfortunately, it’s also one of the most crucial. Employees need to be paid for their efforts and the tax men, both state and federal, need to collect their piece of the pie. But despite this critical nature, payroll software has long languished under the slow moving care of giant...
WASHINGTON (AP) — The Obama administration on Friday gave banks a road map for conducting transactions with legal marijuana sellers so these new businesses can stash away savings, make payroll and pay taxes like any other enterprise. It's not clear banks will get on board.
Seattle-based online real estate brokerage Redfin has been hit with a class-action lawsuit alleging the firm misclassified employees as independent contractors in order to avoid having to pay minimum and overtime wages, payroll taxes and other business-related expenses. The suit comes...
Congressional Research Service, Overview of the Federal Tax System (RL32808) (Jan. 23, 2014): The major sources of federal tax revenue are individual income taxes, Social Security and other payroll taxes, corporate income taxes, excise taxes, and estate and gift taxes. This report describes the federal tax structure, provides some statistics...
By Yaël Ossowski | Vermont Watchdog In keeping with Vermont Watchdog‘s mission of keeping state government accountable, a quick peek at the state payroll is always important. The state of Vermont has 7,805 public employees, according to the Department of Human Resources, a number that has stayed relatively stable for a decade. Show More Summary
Payroll Taxes Are Up in 2014, and That Means Your Paycheck Just Got Smaller.
The Yankees came to terms with Brett Gardner and four others, but should the team sign Masahiro Tanaka, the Japanese pitching star, it could trigger the payroll luxury tax.
Among President François Hollande’s proposed changes – while dealing with revelations of his supposed infidelity with an actress – was a pledge to cut public spending and slash the payroll taxes for business.
The backstory behind North Dakota’s Outdoor Heritage Fund has become something of a saga. In the 2012 election cycle conservation activists attempted to get on the ballot a measure to create a constitutional conservation fund. It would have diverted hundreds of millions of dollars in oil tax revenues into a fund overseen by an appointed...
The U.S. tax system is based on the pay-as-you-earn concept. Every worker who gets a paycheck knows this by the amount of income and payroll taxes withheld each payday. If you get money from other sources where withholding isn't in effect, Uncle Sam expects you to take care of your due taxes in a timely fashion, too. Show More Summary
Mess with us, we'll mess with you. That is the message one can derive from JPMorgan's surprise announcement that it plans to "sell or wind down its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits." Which also includes the infamous Electronic Benefits Transfer, or foodstamps, card. Show More Summary
NEW YORK (Reuters) - JPMorgan Chase & Co plans to sell or wind down its business of issuing prepaid cards for corporate payrolls and government tax refunds and benefits, the company said on Thursday.
The French “Millionaire Tax” was ruled constitutional on Sunday. The tax is a 50% employer-side payroll tax levied on the portion of income that exceeds one million Euros. It was originally intended to be even higher, and levied on the...Show More Summary
In the latest in a string of defections since company founder and CEO Charles Smith’s conviction for failing to pay payroll taxes, real estate showing appointment company eShowings has lost its biggest client, the North Carolina-based Wilmington Regional Association of...
A lot of attention this season has been given to the big money disasters around the league. The Brooklyn Nets, for example, are spending more in luxury tax than 28 other teams are in payroll. That's pretty crazy, but there are teamsShow More Summary
In response to Rich Don't Pay Most of the Taxes (They Pay All of Them); Reflections on the "Almost Rich" several people complained that I am ignoring payroll taxes such as Social Security and Medicare.They are wrong.Here is a repeat of the key facts, followed by an addendum. Show More Summary
We and others warned a year ago that letting the payroll tax expire would hurt the economy. Policymakers ignored those warnings, and in a new analysis, Goldman Sachs highlights the economic damage that the resulting tax increase has...Show More Summary
Government redistributes income through tax and spending programs. Nearly everyone pays some tax – be it federal or state income taxes, payroll taxes, or sales taxes. The tax system also affects people by delivering a host of benefits through tax expenditures (subsidies like the mortgage interest deduction or the child tax credit). And broad spending […]