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Despair and Anger as Puerto Ricans Cope With Debt Crisis

23 hours agoNews : NYTimes: News

As the commonwealth grapples with a $73 billion debt it calls unpayable, residents are dealing with higher sales tax and bracing for revenue-increasing cuts.

Why anyone who compares Puerto Rico to Greece is wrong

Its economy has been shrinking for years, its debts have been piling up for even longer, and its government has finally admitted that even brutal tax hikes and spending cuts wouldn't be enough for it to pay back everything it owes. I'm talking, of course, about Puerto Rico. Its governor, Alejandro García Padilla, admitted to the […]

Who Benefits the Most from an Across-the-Board Cut in Individual Tax Rates?

Just about every tax reform plan calls for cutting individual tax rates. But it turns out that a one percentage point across-the-board rate cut would benefit only about six out of 10 households. The biggest beneficiaries:  those with the highest incomes. Show More Summary

New Hampshire Corporate Tax Cuts in Limbo

Last week, New Hampshire Governor Maggie Hassan (D) vetoed the State Legislature’s budget bills, HB 1 and HB 2. In her veto message, the governor explained her opposition to the budget, criticizing the proposed business tax cuts: “IShow More Summary

Reminder: Reagan Was for Tax Relief for Families, Not Just Rate Cuts

It’s become an article of faith among the uber-supply-siders to criticize any tax reform plan that includes expanded child tax credits. The idea that families need tax relief to help them raise their children doesn’t rate with them. Instead,...Show More Summary

Greece is Being Taxed to Death

American news stories about the Greek financial collapse frequently echo complaints of government employees and their supplicants about “budget cuts.”  In reality, Greek government spending rose from 44.6 percent of GDP in early 2006...Show More Summary

Greece Prepared to Vote Against Austerity Measures, Suggests Poll

Greek Prime Minister Alexis Tsipras announced a nationwide referendum on whether the country should accept its creditors' demands for spending cuts and tax increases.

Tsipras Signals Greece May Accept Bailout Terms

3 days agoNews : NYTimes: News

In a letter to the country’s creditors, the Greek prime minister said Athens was “prepared to accept” a deal with some modifications on contentious points like pension cuts and tax increases.

Expiration Of Bush Tax Cuts Cost Jeb Bush $500,000 In 2013

Jeb Bush, the former Governor of  Florida who is among the 27% of the population running for President in 2016, released 33 years worth of federal tax returns earlier today. It's a savvy move by Bush; by publicizing his income, he avoids the mistake made by past Republican candidate Mitt Romney, who [...]

D.C. takes final step toward sweeping tax reforms, accelerates cuts

A fresh round of tax cuts originally slated to hit District taxpayers in February will now be triggered in September, according to an agreement reached by a divided D.C. Council on Tuesday.The cuts, which council members say will lower...Show More Summary

Pain in the streets in Greece as financial crisis unfolds

As Greece prepare to hold a vote on Sunday to decide whether to accept more tax increases and spending cuts, the people of Athens are feeling the pain of the country's economic crisis

Go Home Already: District of Dogs

End-of-day news: Council approves tax cuts, minimum wage increase takes effect tomorrow, and more. [ more › ]

Meet the Democrat in D.C. who is cutting taxes for the rich – and for everyone else

Phil Mendelson could be a comic-book caricature of a bleeding-heart D.C. liberal.He drives an aging Ford Focus because it was union-made. He tried to keep Wal-Mart from moving into the nation’s capital unless it agreed to boost wages. And he has voted against tax cuts for the wealthy as many times as he has fingers.Read full article >>

Cut tax rates at the bottom, not at the top

My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. There is more than a touch of déjà vu about George Osborne?s summer budget on July 8. In June 2010, when Osborne presented his first ?emergency?...

Saturday PS: 40p or bust?

LORD (Nigel) Lawson this week urged George Osborne to use his July 8 Budget to bring the top rate of tax down from 45p in the pound to 40p. A brief history of surtax: Lord Lawson cut the top rate...

Montgomery County considers cuts to 2016 budget it just passed

Montgomery County, faced with lower-than-expected revenues and millions in tax refunds triggered by a Supreme Court decision, is preparing to cut the 2016 operating budget council members approved just five weeks ago.Read full article >>

Trimming school-improvement programs to fit a scaled-back budget

A divided Prince George’s County Board of Education adopted a downsized $1.8 billion budget Thursday night, cutting programs that would have been funded by a proposed property tax increase rejected by the county council.Read full article >>

Varoufakis: Greece in impossible position

Greece’s creditors are demanding tax increases and pension cuts that Athens finds hard to swallow, says Finance Minister Yanis Varoufakis. ||| Dublin - Demands for tax increases and pension cuts that Greece's creditors are setting as...Show More Summary

Pozen: Let's Cut Taxes By Reducing Tax Bias Favoring Debt Over Equity

Robert Pozen (Harvard), Let's Cut Taxes By Reducing Tax Bias: Tax experts from around the world gathered two weeks ago in Washington DC to push forward a Euro-led project for the prevention of BEPS -- base erosion and profit shifting. This project is aimed at getting multinational companies to locate...

Everything You Need To Know About The $20k Small Business Tax Break [Infographic]

Are you eligible for the government’s $20,000 small business tax deduction? If so, what kind of gear are you actually allowed to claim? This Etax infographic breaks down whether or not your business purchases will make the cut. More »      

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