Posts Tagged ‘ taxes ’

Fortune receipt taxes

December 17, 2014
posted by

Bleeding Heart Libertarians Bleeding Heart Libertarians
by Andrew Cohen  

"Imagine Twin Earth, with one very clear difference from our Earth: every so often -- it happens to fewer than 1% of the people in any given year (and usually only once to anyone it happens to) -- people wake up to find themselves with a fortune they did nothing to earn. Some of the fortunate ones report walking into their living room and finding it filled with a huge pile of cash. Some say they received a check in the mail. Others find it outside their homes. This has been going on for as long as anyone remembers and so, naturally, most governments on Twin Earth have sought to take advantage of it. The most common way they have done this is by instituting what Twin U.S.A. calls a 'fortune receipt tax.'" (12/17/14)

http://bleedingheartlibertarians.com/2014/12/fortune-receipt-taxes/  

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Not all income-tax free states are alike

December 16, 2014
posted by

National Center for Policy Analysis National Center for Policy Analysis
by Pamela Villarreal  

"Seven American states -- Alaska, Florida, Nevada, New Hampshire, South Dakota, Texas and Wyoming -- lack a personal income tax, but the taxing similarities between them stop there. A new report from NCPA Senior Fellow Pam Villarreal details how sales and property tax rates vary among the no-income-tax states and how some may be better off by moving from one state to another." (12/16/14)

http://www.ncpa.org/sub/dpd/index.php?Article_ID=25172  

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Three new ways government threatens to tax the Internet — as soon as Thursday

December 11, 2014
posted by

Seton Motley Heartland Institute
by Seton Motley  

"Perhaps the only thing government loves more than spending our money -- is taking it. The spending has long since passed absurdly astronomical levels. The Feds alone spend about $4 TRILLION a year. Governments in total are spending about 36% of our Gross Domestic Product (GDP) -- everything everyone in the nation combined creates. ... Government views our money like Jello -- there's always room for more. Whenever it can raise taxes -- or create new ones -- it all but leaps at the opportunity. The Internet is currently threatened with multiple brand new taxes levied by multiple levels of government." (12/09/14)

http://tinyurl.com/lvx94jz  

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How earnest is the IRS?

December 8, 2014
posted by

Paul Jacob Common Sense
by Paul Jacob  

"Sometimes those who wield power over us seem less than honest about whether they’re following their own professed rules, including rules mandated by law. The latest example comes to us courtesy of the watchdog group Cause of Action, which filed a Freedom of Information request for correspondence between the IRS and the White House about tax returns. The correspondence may reveal something about, say, political targeting of taxpayers by IRS and/or Obama administration officials and/or others." (12/08/14)

http://thisiscommonsense.com/2014/12/08/how-earnest-is-the-irs/  

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The Laffer Curve: Will tax cuts pay for themselves?

December 3, 2014
posted by

Robert P. Murphy Foundation for Economic Education
by Robert P. Murphy  

"In a recent speech in Little Rock, former president Bill Clinton said, 'In the first eight years of trickle-down economics under President Reagan, we tripled the debt.' The former president claims his 'first job' in the White House was to 'get rid' of 'trickle-down economics,' as critics like to call the economic policy associated with Reagan and with economist Arthur Laffer. Generations since Reagan have come, mostly uncritically, to accept the term and its association with Laffer. As someone who worked for Laffer (in 2006–07), I thought I would clarify some of the misconceptions that leftist progressives and even many libertarians have about supply-side economics and the Reagan years." (12/03/14)

http://tinyurl.com/ox4c5ru  

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Taxing away sweet drinks: Plenty of Baptists, but no bootleggers

December 2, 2014
posted by

Cato Institute Cato Institute
by Adam Smith and Bruce Yandle  

"Amidst all the revelry and regret concerning the Republican election-day sweep, it was easy to miss another groundbreaking victory. Voters in the city of Berkeley, California, gave roaring support for a one-cent per ounce tax on sugary drinks, the first ever in the United States. As many as 30 previous attempts by U.S. cities and states to tax away sugar in soda have failed, including ballot efforts in San Francisco, Richmond, and El Monte, California, this year alone. What seems like a perfect opportunity for bootleggers and Baptists to perform their political magic just hasn’t been working very well." (11/27/14)

http://tinyurl.com/puhwnhm  

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NH: Fed gangsters have trouble selling property they stole from tax resisters

December 1, 2014
posted by

ABC News ABC News    

"It turns out there isn't a huge market for a $250,000-plus, 100-acre property that may be booby-trapped. The sale of the compound owned by a now-jailed pair of tax [resisters] who held off police during a nine-month armed standoff is beset by problems both procedural and perilous: High bidders would have only seven days to come up with the financing for the property they have to buy largely sight-unseen because it could be filled with hidden explosives. No bidders showed up at an Aug. 15 auction at federal court in Concord, where Deputy Chief U.S. Marshal Brenda Mikelson went through the motions of soliciting a minimum bid of $250,000 on the Plainfield compound where fugitives Ed and Elaine Brown holed up in 2007." (11/29/14)

http://tinyurl.com/kdp2pc5  

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Carbon taxes: The tax interaction effect

November 25, 2014
posted by

David Henderson EconLog
by David Henderson  

"In a world starting with zero taxes on anything, a tax on carbon would be optimal, assuming, I remind you, that global warming is a problem. But the academic literature on carbon taxes has moved well beyond that simple world. In the world in which we live, where there are many taxes, the case for carbon taxes is no longer so clear. And the reason? It's that there is an interaction between carbon taxes and other taxes." (11/24/14)

http://econlog.econlib.org/archives/2014/11/carbon_taxes_th.html  

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The 2014 tax revolt

November 21, 2014
posted by

Michael D. Tanner Cato Institute
by Michael D. Tanner  

"As they whistle past the post-election graveyard, Democrats have found a new tune: Voters may have rejected their candidates for everything from U.S. Senate to dogcatcher, but they really still agree with them on the issues. Of course this clearly isn’t true when it comes to Obamacare, which just dropped to its lowest approval ever in the most recent Gallup poll. And as we examine the election results in more detail, it’s apparent that voters don’t much like other liberal ideas -- like tax hikes -- either." (11/19/14)

http://www.cato.org/publications/commentary/2014-tax-revolt  

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US government tries to mug the mayor of London

November 20, 2014
posted by

JD Tuccille Reason
by JD Tuccille  

"It was only a matter of time before America's economic grab for global imperium, embodied in tax laws and, particularly, the Foreign Account Tax Compliant Act (FATCA), ran up against somebody who might actually be able to push back. Not content to roll those who reside within its own borders, the federal government insists that U.S. citizens and even long-term residents who now live abroad and may not have had a glimpse of amber waves of grain in many years owe Uncle Sam a piece of the take -- and that financial institutions around the world must snitch on them to ease the mugging. Such a broad definition of those subject to the IRS's tender ministrations reaches far and wide. It reaches so far that American tax authorities say Boris Johnson, the mayor of London, owes capital gains taxes to the land of his birth, even though he hasn't lived here since he was five years old." (11/19/14)

http://tinyurl.com/pzn7xc5  

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FCC chair proposes $3.9 billion phone tax hike for the chilllllllllldren

November 18, 2014
posted by

Salt Lake City    

"The U.S. should spend $1.5 billion more a year to make sure every child has access to high-speed Internet connections at school, the head of the Federal Communications Commission said Monday in a proposal endorsed by the Obama administration that would increase slightly the fees [sic] consumers pay each month on their phone bills. ... FCC Chairman Tom Wheeler told reporters that he estimates the average consumer or business would pay roughly $1.90 extra a year per phone line to make that happen. Education Secretary Arne Duncan on Monday issued a statement endorsing the plan." [editor's note: Note mis-use of the term "fee" to cover up that payment is unrelated to any specific service received by the payer. It's a TAX - TLK] (11/17/14)

http://tinyurl.com/l5qjvtn  

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Just in time for Christmas … a tax increase

November 17, 2014
posted by

Campaign For Liberty Campaign For Liberty
by Norm Singleton  

"Be prepared to pay more for your Christmas tree this year, thanks to a new 'Christmas tree tax' imposed by the government. What evil anti-Christmas tree Grinch is behind this? The Christmas tree industry! You see, the revenues raised from the tax will to fund a federal-program promote natural Christmas trees, similarity to the federal-funded 'Got Milk' and 'Beef it’s what for dinner' campaigns." (11/16/14)

http://tinyurl.com/lwcwstx  

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G20: Modi urges “close coordination” in chasing down escaped tax slaves, stealing their money

November 16, 2014
posted by

Hindustan Times [India]    

"Raising the issue of black money during the G20 Summit meeting in Brisbane, Prime Minister Narendra Modi on Sunday stated that India supports all initiatives which facilitates automatic exchange of information among nations that ultimately helps in tracing unaccounted money and its eventual repatriation. In series of tweets, Ministry of External Affairs (MEA) official spokesperson, Syed Akbaruddin’s twitter handle revealed Prime Minister Modi’s intervention on issues of tax evasion at the G20 Summit." (11/16/14)

http://tinyurl.com/kozcj2r  

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From Overstock to overtaxed

November 13, 2014
posted by

Competitive Enterprise Institute Competitive Enterprise Institute
by Ryan Radia and Hans Bader  

"As online shopping has boomed in recent years, several states have enacted legislation aimed at collecting sales taxes on their residents’ purchases from out-of-state Internet retailers. Over a dozen states’ tax laws now require out-of-state sellers that use 'affiliates' -- in-state Internet advertising partners -- to collect sales taxes whenever one of their residents makes a purchase by clicking a link on an affiliate's website." (11/12/14)

https://cei.org/content/overstock-overtaxed  

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IRS: Infernal Robbery Specialists

November 4, 2014
posted by

Timothy J. Taylor Authority!
by Timothy J Taylor  

"Did you know that the Gestapo thugs at the IRS think they can confiscate, i.e. rob your bank accounts without bothering to afford you due process of law and without any evidence that you have committed a crime? That's right. The IRS actually believes it has the legal authority based upon mere 'suspicions' to deem you guilty until you can prove yourself innocent. They literally rob you of your property in the process. These infernal robbery specialists are not just targeting conservative political groups to deny them tax exempt status these days; they're also committing highway robbery of innocent people in broad daylight." (11/03/14)

http://tinyurl.com/pl3ve6m  

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Argentina suspends Procter & Gamble operations in “tax fraud probe”

November 3, 2014
posted by

Independent [UK]    

"Argentina has suspended Procter & Gamble operations in the country, accusing the American consumer products giant of tax fraud. In a statement released on Sunday, the AFIP tax agency accused the company of over-billing $138 million in imports to funnel money out of the country and hide taxable income. AFIP head Ricardo Echegaray said global companies can't keep 'cheating the state.'" (11/03/14)

http://tinyurl.com/obt4h23  

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American tariffs and wars from the Revolution to the Depression

November 3, 2014
posted by

James Bovard Ludwig von Mises Institute
by James Bovard  

"Fair trade is once again a rallying cry for many Americans. Many contemporary leftists believe that the U.S. government should impose restrictions or tariffs on imported goods that are alleged to have been produced by underpaid or oppressed Third World workers. Few contemporary protectionists are aware of the sordid history of trade conflicts earlier in American history." (11/01/14)

http://tinyurl.com/owoeb2f  

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Do successful tax evaders supply a positive externality?

November 2, 2014
posted by

Don Boudreaux Cafe Hayek
by Don Boudreaux  

"On Wednesday, 51 governments agreed to share financial information in order to reduce tax evasion ('51 countries sign deal in tax evasion crackdown,' Oct. 30). Britain's Chancellor of the Exchequer, George Osborne, roundly approves, proclaiming that this new treaty 'strikes a blow on behalf of hard-working taxpayers.' Not so fast. While this treaty unquestionably strikes a blow on behalf of tax-collectors such as Mr. Osborne, it's less obvious that this treaty helps taxpayers." (11/01/14)

http://tinyurl.com/p69exhj  

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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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