Posts Tagged ‘ taxes ’

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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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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