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.
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 […]
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
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
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
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
Greek Prime Minister Alexis Tsipras announced a nationwide referendum on whether the country should accept its creditors' demands for spending cuts and tax increases.
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.
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 [...]
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
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
End-of-day news: Council approves tax cuts, minimum wage increase takes effect tomorrow, and more. [ more › ]
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 >>
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?...
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, 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 >>
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 >>
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
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...
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 »