Posts Tagged ‘ taxes ’

Abolish the income tax and IRS

October 29, 2014
posted by

Sheldon Richman Future of Freedom Foundation
by Sheldon Richman  

"For some time now we've lived with the scourge of civil asset forfeiture, under which the police can seize a person's property on the mere suspicion it was used in a crime and without having to charge the owner with an offense. Since the authorities have no burden to prove guilt beyond a reasonable doubt, the burden of proving innocence falls on the hapless citizen who wishes to recover his property. Amazingly, people describe as free a society that features this outrage. Now it comes to light that the Internal Revenue Service does something similar." (10/28/14)

http://fff.org/explore-freedom/article/abolish-income-tax-irs/  

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IRS seizes property because taxpayers followed the law

October 29, 2014
posted by

Campaign For Liberty Campaign For Liberty
by Norm Singleton  

"So if you make a deposit below $10,000 then your bank does not have to file a report and you do not have to worry about being bothered by the federal government, right? Wrong, the federal law outlaws what is called 'structuring' which is making deposits below $10,000. The law assumes that if you make deposits under $10,000 you are doing it to avoid the federal reporting requirements. Therefore banks must file a Suspicious Activity Report on you if you do not meet their federal 'profile' of money laundering because the fact that you do not meet that profile is an indication that you are a money launderer." (10/27/14)

http://tinyurl.com/ojvvmyq  

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The many ways the state taxes the poor

October 27, 2014
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Julian Adorney  

"Most defenders of the state assume that government services help the poor. And, sometimes, some poor people do benefit financially from government programs. But there’s a hidden cost: taxation and mandatory programs (Social Security, for instance) that hurt the needy by restricting their choices. Government taxes away income that low-income households could invest in improving their lives. At the same time, state-sponsored benefits create incentives that keep the poor trapped in poverty. Many assume that government barely taxes the poor, but the reality is otherwise." (10/27/14)

http://mises.org/daily/6938/The-Many-Ways-the-State-Taxes-the-Poor  

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Hungary: Thousands protest against tax on Internet traffic

October 27, 2014
posted by

Reuters Reuters    

"Thousands of Hungarians protested in Budapest on Sunday against a planned new tax on Internet data transfers, which they said would not only increase the tax burden but would also curb fundamental democratic rights and freedoms. Prime Minister Viktor Orban's government, which has been widely accused of adopting anti-democratic policies, first unveiled plans for the new tax late on Tuesday in the draft 2015 tax bill submitted to parliament. The draft tax bill contains a provision for Internet providers to pay a tax of 150 forints (60 U.S. cents) per gigabyte of data traffic, though it would also let companies offset corporate income tax against the new levy." (10/26/14)

http://tinyurl.com/ovm6owf  

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What will it take to grow GDP? Part 2

October 23, 2014
posted by

Tom Yamachika Hawaii Reporter
by Tom Yamachika  

"Last week we suggested that we look at growing our state’s economic position by concentrating on areas of our economy that we can control, like our tax rates. We examined the business tax climate rating the national Tax Foundation gave our state, and reviewed the areas where Hawaii received good ratings, namely corporate income tax, sales tax, and property taxes. Hawaii really got zinged in the areas of individual income tax and unemployment tax. Perhaps these two areas present the best opportunities to change the perception of our state as, well, something other than tax heaven This week we’ll look at individual income tax where the study placed us at #35." (10/22/14)

http://www.hawaiireporter.com/what-will-it-take-to-grow-gdp-part-2  

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Did the Bush tax rebates actually work?

October 22, 2014
posted by

Scott Sumner EconLog
by Scott Sumner  

"I'm very dubious of all this. When the payroll tax cut was rescinded at the beginning of 2013, Keynesians predicted that growth would slow -- especially since lots of other austerity measures were imposed at the same time. In fact, economic growth (2012:Q4 to 2013:Q4) nearly doubled over the previous 12 months. That was due to monetary offset. The Bush tax cuts were also ineffective, for two reasons." (10/22/14)

http://econlog.econlib.org/archives/2014/10/did_the_bush_ta_1.html  

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No, a carbon tax cannot create jobs, jobs, jobs

October 15, 2014
posted by

James M. Taylor Heartland Institute
by James M. Taylor  

"A tax on carbon dioxide emissions would destroy far more jobs -- and wealth -- than it would create, despite the well-intentioned hopes of Forbes.com contributor James Conca." (10/09/14)

http://tinyurl.com/mtq7hmv  

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Falling off the cliff

October 13, 2014
posted by

Hawaii Reporter
by Tom Yamachika  

"When I was growing up there was a hilarious cartoon involving a roadrunner and a coyote. The coyote was always trying to catch the roadrunner, presumably to make it that evening’s dinner, but never succeeded. More often than not, the coyote would find the bird resting near the edge of a dangerous cliff. The coyote would lunge at it, the roadrunner would deftly sidestep, and the coyote found himself past the edge of the cliff with nothing but air under his feet. Wheeeeeee ... splat. There are also treacherous cliffs in the tax world. Take, for example, our conveyance tax that is imposed on real estate transactions." (10/12/14)

http://www.hawaiireporter.com/falling-off-the-cliff/  

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Taxes are theft?

October 13, 2014
posted by

Robert P. Murphy Liberty Chat
by Robert P. Murphy  

"Indeed, it is quite popular in libertarian circles to point out that wearing a badge, or winning a popularity contest, doesn't give a person special moral prerogatives that others lack. 'Conscription' is a fancy name for kidnapping and slavery, while 'war' is a euphemism for mass murder. It is very useful to bring up these points periodically, in order to remind people that agents of the State ... well, get away with murder. Naturally, if something is a wonderfully effective rhetorical device, the people who want the institutional theft and systematic mass murder to continue, will object to these debating techniques." (10/09/14)

http://www.libertychat.com/2014/10/taxes-theft/  

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Ban on Internet taxes should be retained

October 12, 2014
posted by

Heartland Institute Heartland Institute
by Matthew Glans  

"The Permanent Internet Tax Freedom Act is common-sense Internet policy that is a long time coming. Internet access taxes are particularly damaging to the growth of the Internet economy by placing an unnecessary burden on consumers. A permanent Internet access tax moratorium would help broadband access and development expand while reducing the need for government broadband spending. The moratorium is currently set to expire November 1, but legislation is now moving through Congress that would permanently extend the moratorium." (10/09/14)

http://tinyurl.com/q6jd2j5  

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Is the GOP abandoning tax cuts?

September 30, 2014
posted by

Campaign For Liberty Campaign For Liberty
by Norm Singleton  

"Tax reform is by no means the same thing as tax reduction. In fact most tax reformers embrace the concept of 'revenue neutrality' which means that tax reform should never reduce the amount of taxes government takes from the people. Instead it should rearange the tax burden to make the system more 'fair' and 'efficient' (as defined by bureaucrats and politicians)." (09/29/14)

http://www.campaignforliberty.org/national-blog/gop-abunding-tax-cuts/  

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Lowering taxes is the only decent tax reform

September 29, 2014
posted by

Laurence M. Vance Ludwig von Mises Institute
by Laurence M. Vance  

"The libertarian approach to tax deductions and credits differs strikingly from those on the left and the right who want to simplify the tax code by eliminating these things to ensure that every individual and corporation pays some uniform and arbitrary fair share. Since the federal government is unlikely to ever eliminate the income tax, proponents of a free society should work toward expanding tax deductions, tax credits, tax breaks, tax exemptions, tax exclusions, tax incentives, tax loopholes, tax preferences, tax avoidance schemes, and tax shelters and applying them to as many Americans as possible." (09/27/14)

http://tinyurl.com/o2h6q69  

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US Treasury acts to stop tax slaves from escaping the plantation

September 23, 2014
posted by

CNN Money    

"The U.S. Treasury Department on Monday announced what it called its 'first, targeted steps' to make it harder for U.S. companies to reduce their tax bills by merging with foreign firms and moving abroad. ... The changes Treasury announced will make it harder for a U.S. company seeking inversion to escape paying U.S. tax on foreign earnings they have already made." (09/22/14)

http://money.cnn.com/2014/09/22/news/economy/treasury-inversions/  

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Where’s the beef? Canada!

September 9, 2014
posted by

Foundation for Economic Education Foundation for Economic Education
by Stewart Dompe and Adam C. Smith  

"As long as government continues charging firms non-competitive tax rates, inversion will inevitably continue. Advances in telecommunication and information technologies have enabled a massive increase in firm size. Multinational firms are quite common now, and this technology increases their mobility. By choosing where they operate, firms are able to choose the legal regime they want to govern their affairs. After all, if a landlord tries to charge a higher rent than every other comparable property in town, they will soon find themselves without any tenants. The real scandal is that individuals may be able to shop around for better rents and landlords, but except for the very wealthy, are usually bound to the tax regime cooked up by their rulers." (09/09/14)

http://www.fee.org/the_freeman/detail/wheres-the-beef-canada  

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Do you receive free lunch at work? The IRS wants to tax it …

September 7, 2014
posted by

A Lightning War for Liberty
by Michael Krieger  

"So with the scandal now behind the IRS, and nobody held accountable as usual, at least we can rest assured that the tax agency has finally gotten its priorities straight. Clearly one of the biggest cancers plaguing society is that fact that some plebs out there still work for employers willing to provide them with a free lunch. I think we can all agree with the IRS that this sort of behavior is akin to domestic terrorism, and something must be done about it. You know, like the IRS getting its cut." (09/04/14)

http://tinyurl.com/mdl5dze  

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Burger King heads north

September 7, 2014
posted by

Cagle Post
by Randy Jones  

Cartoon. (09/05/14)

http://www.cagle.com/2014/09/burger-king-heads-north/  

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ObamaCare tax merry-go-round

September 3, 2014
posted by

John R. Graham Independent Institute
by John R. Graham  

"Get a load of how Obamacare health-insurance premium taxes work. According to Medicaid Health Plans of America: 'This situation results in the federal government taxing itself and taxing state governments to fund the higher Medicaid managed care payments required to fund the ACA health insurer fee.' It look me a few times to get my head around that. What it means is that Obamacare levies a premium tax on private health plans -- including those to contract to provide Medicaid coverage. So, the federal and state governments, which are Medicaid’s payers, pay those taxes." (09/02/14)

http://blog.independent.org/2014/09/02/obamacare-tax-merry-go-round/  

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Forget economic patriotism — it’s time for economic freedom

August 29, 2014
posted by

John Engle Heartland Institute
by John Engle  

"America is finally starting to pay the price for its broken corporate tax regime. The recent increase in so-called tax inversions, in which American corporations seek lower tax rates via mergers with companies based in foreign countries. Tax inversions result in American firms effectively becoming foreign businesses, something many politicians on the left have come to fear and despise. At least 47 American tax inversions have occurred in the last decade, but it was not until this month that they started making serious headlines." (08/28/14)

http://tinyurl.com/jvmpgur  

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In support of Burger King

August 28, 2014
posted by

Bruce McQuain QandO
by Bruce McQuain  

"I’ve never really been much of a Burger King fan, but guess what I’m having for lunch today? Why? Because Burger King has given us an opportunity to point out one reason why our economy is lagging. And, as usual, it has to do with government policy." (08/27/14)

http://www.qando.net/2014/08/27/in-support-of-burger-king/  

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California set to triple tax credit for filmmakers

August 28, 2014
posted by

Raw Story    

"California is set to more than triple its tax credits granted to the film industry in a bid to limit an exodus of movie makers from Hollywood tempted by more generous aid. Governor Jerry Brown said he is set to sign an accord passed by the western US state’s lawmakers, who voted to grant $330 million per year for five years, or a total of $1.65 billion. Previously, tax credits for films were limited to $100 million a year. 'This law will ... put thousands of Californians to work,' Brown said in a statement, which noted that over the last 15 years film production has plummeted by 50 percent in California." (08/28/14)

http://tinyurl.com/nyuwqk6  

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Tax credits won’t lift economic growth

August 21, 2014
posted by

Cato Institute Cato Institute
by Daniel J. Mitchell  

"There’s a policy debate among conservatives in Washington about the best way to cut taxes and reform the tax code. The supply-siders want to replicate the success of Reaganomics with lower marginal tax rates. But there’s also a camp who call themselves 'reform conservatives' who want income tax credits or payroll tax cuts explicitly for the purpose of reducing tax liabilities for middle-class parents." (08/20/14)

http://tinyurl.com/na54uzg  

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Did ObamaCare violate the Constitution’s origination clause?

August 7, 2014
posted by

10th Amendment Center Tenth Amendment Center
by Rob Natelson  

"Two years ago, the Supreme Court declared Obamacare's penalty for failure to purchase conforming insurance to be a 'tax.' Several plaintiffs subsequently sued in federal court arguing that the penalty is invalid for violating the Constitution's Origination Clause. The Origination Clause says that 'All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.' The argument of the plaintiffs is that the Affordable Care Act and its taxes originated in the Senate, and that the tax/penalty is therefore void." (08/07/14)

http://tinyurl.com/ly54woj  

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My life of appeasement

August 6, 2014
posted by

Bryan Caplan EconLog
by Bryan Caplan  

"Morally speaking, I think taxation is theft. The government has a lot of bad excuses for taking my money without my consent, but no really good reasons. Still, every year, I pay my taxes. Why don't I stand up for my rights? The obvious reason: If I stood up for my rights by refusing to pay and attacking anyone who tried to make me, I would end up dead or in jail." (08/05/14)

http://econlog.econlib.org/archives/2014/08/my_life_of_appe_1.html  

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Abolishing the corporate income tax could be good for everyone

August 6, 2014
posted by

National Center for Policy Analysis National Center for Policy Analysis
by Laurence J. Kotlikoff  

"The U.S. corporate income tax produces little revenue — only 1.8 percent of gross domestic product (GDP), or about $288 billion in 2013. Yet the compliance, collection and avoidance costs of collecting this tax are huge. Worse yet, America’s relatively high marginal tax rate encourages both U.S. and foreign corporations to operate outside the United States. It also prevents firms from returning overseas profits and reinvesting them domestically." (08/05/14)

http://www.ncpa.org/pub/ba799  

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How to raise wages: Cut corporation tax

August 5, 2014
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"We’d all like to see wages rise: that is the point of this economy thing, after all, that the average life of the average bloke just keeps getting better and better. So, how might we go about doing this lovely thing? Well, some interesting research from the US as to the effects of eliminating (or, if not, at least lowering) the corporation tax rate ..." (08/04/14)

http://tinyurl.com/pr53vql  

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