Posts Tagged ‘ taxes ’

What is an “excise?”

January 26, 2015
posted by

Rob Natelson Tenth Amendment Center
by Rob Natelson  

"At the time the Constitution was written, an excise was universally understood to be an 'inland' (domestic) tax on the consumption of commodities, specifically on manufactured goods. ... By contrast, taxes on individuals ('capitations'), property, businesses, income, and the ordinary business of life were considered 'direct.' The Constitution required them to be apportioned among the states. In 1937, the Supreme Court decided Charles C. Steward Machine Co. v. Davis, in which the Court ruled that the Social Security tax on employers was an 'excise,' and therefore did not have to be apportioned among the states. The Court cited three pre-constitutional tax statutes that were not imposed on commodities but, it said, were excises. All of the Court's citations were bogus: None of the statutes were excises. Two were head taxes. The other was a non-excise duty." (01/26/15)

http://tenthamendmentcenter.com/2015/01/26/what-is-an-excise/  

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A new idea for tax fairness online

January 26, 2015
posted by

Competitive Enterprise Institute Competitive Enterprise Institute
by Jessica Melugin  

"The misleadingly named Marketplace Fairness Act died a quiet death during the House of Representatives’ lame-duck session, but is it really the end? What does the new year and the new Congress have in store for the Internet sales tax debate? If recent experience is any guide, MFA supporters will be back to try again. Many MFA supporters correctly point out that the current system creates inequities in the way brick-and-mortar and remote sellers are treated. But their proposed cure would be worse than the disease. To understand why, let’s consider what the nation just avoided." (01/25/15)

https://cei.org/content/new-idea-tax-fairness-online  

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Note to GOP: Talking about raising taxes is a bad idea

January 26, 2015
posted by

Marita Noon Heartland Institute
by Marita Noon  

"What are the Republicans thinking? Coming right out of the gate, at the start of the new GOP-controlled Congress, they began talking about the crazy idea of increasing the gasoline tax. It has little chance of passing, yet can easily taint the party with a tax-raising reputation." (01/26/15)

http://tinyurl.com/pd8aer5  

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Obama seeks more double taxation and job-killing taxes in State of the Union address

January 25, 2015
posted by

Competitive Enterprise Institute Competitive Enterprise Institute
by Hans Bader  

"In his State of the Union Address, President Obama called for tax increases on the wealthy, such as by increasing the top tax rate on capital gains and dividends, and by imposing what is effectively double taxation on inheritances (by imposing both estate taxes and capital gains taxes on the very same asset). Obama also wants to tax the not-so-wealthy, such as taxing many college savings plans. Double taxation would also increase due to the tax increases on dividends proposed by Obama, since companies pay income taxes on their earnings before paying them out to investors as dividends." (01/22/15)

http://tinyurl.com/ll2rorc  

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Two-thirds to raise taxes

January 23, 2015
posted by

Paul Jacob Common Sense
by Paul Jacob  

"Three times voters have passed initiatives promoted by Mr. Eyman mandating a 2/3 legislative vote or a vote of the people before taxes can rise -- in 2007, 2010 and again in 2012, the last two times by a whopping 64 percent vote. But in 2013, the state supreme court ruled voters could not so limit their state legislature, short of a constitutional amendment. And -- you guessed it -- the Evergreen State lacks a statewide initiative process for voters to amend the constitution ... without the permission of their legislators. Eyman was blocked; the voters thwarted. Legislators could go back to raising taxes as usual. Not so fast!" (01/22/15)

http://thisiscommonsense.com/2015/01/22/two-thirds-to-raise-taxes/  

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Thankfully, Obama’s dumb capital gains plan is going nowhere

January 21, 2015
posted by

Chris Edwards Cato Institute
by Chris Edwards  

"President Obama's new tax proposals show that he is not interested in bipartisan tax reform. The plan to be outlined in his State of the Union address is anti-growth, anti-savings, and pro-complexity. Left-wing political consultants might like the plan, but not serious tax reformers. Obama himself has called for simplifying the tax code, but his proposals -- including the expansion of tax credits -- would make the code more complicated." (01/21/15)

http://tinyurl.com/q5lwvro  

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Report: Odds of gas tax hike growing

January 20, 2015
posted by

San Francisco Chronicle San Francisco Chronicle    

"With Washington’s most famous climate-change skeptic expressing interest in raising the federal gasoline tax, Bay Area Rep. Jared Huffman sees an opening to grab the brass ring of the environmental movement: a tax on carbon. Taxing gasoline is, after all, a form of taxing carbon -- a step environmentalists believe could reduce America’s global-warming emissions. Huffman reasons that if Oklahoma Republican Sen. James Inhofe, who once wrote a book calling climate change 'The Greatest Hoax,' can get Washington talking about raising the gas levy, it’s a good time to make the tax a little more sophisticated so it reflects the carbon content of all fuels." (01/20/15)

http://tinyurl.com/lvn6uvo  

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People have more money? Let’s tax it!

January 20, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by John P Cochran  

"A recent example; an editorial, 'Capitalize on low fuel prices by raising Colorado gas tax,' in the Denver Post emphasized that the currently low and expected-to-remain-low gasoline prices presents an excellent opportunity to painlessly raise the gasoline tax, if not at the Federal level -- due to resistance of some to raise taxes -- then at the state level. Like many who support big government, an extra dollar in a potential taxpayer's pocket is much better spent by the enlightened elite." (01/19/15)

http://mises.org/library/people-have-more-money-let%E2%80%99s-tax-it  

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IRS warns of tax refund delays

January 18, 2015
posted by

KTVQ News    

"The IRS normally issues taxpayer refunds quickly. But this year, some filers are going to have to wait. Due to budget cuts, people who file paper tax returns could wait an extra week for their refund -- 'or possibly longer,' wrote IRS Commissioner John Koskinen in a memo to employees Tuesday." [editor's note: That problem seems so easy to solve ... if a refund takes more than 24 hours from receipt of the return to issuance of the refund, the responsible employee's pay is docked by $100 and Koskinen's by $10, with the $100 going to the filer as a late refund fee and the $10 going back to the US Treasury. That should take care of it - TLK] (01/18/15)

http://www.ktvq.com/news/irs-warns-of-tax-refund-delays-221240/  

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Bait & switch: “Economic development” in the states

January 16, 2015
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Jeff Scribner  

"Businesses do not locate in any one place solely because of the tax laws. However, as tax burdens climb, the tax treatment of the business itself, and of its higher-paid employees and executives, becomes a more important consideration. Thus the incentive packages, made up primarily of special tax abatements for a set period of time, are developed and used in recruiting new businesses. It is apparent that the politicians -- politicians as diverse as Governor Pat McCrory of North Carolina and Governor Andrew Como of New York -- who try to make use of these incentives, are totally missing the point they are illustrating. If you have to bribe a company to locate in your state or bribe one not to leave, your taxes and whatever else you are using to bribe them, are too high or otherwise onerous." (01/15/15)

http://mises.org/library/bait-switch-economic-development-states  

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Conservatives just don’t get it on taxes

January 9, 2015
posted by

Laurence M. Vance Future of Freedom Foundation
by Laurence M Vance  

"Conservatives believe that reforming the tax code by making it more efficient, more coherent, more transparent, and more equitable; eliminating the double taxation that discourages saving and investment; eliminating the 'rat's nest' of deductions, credits, and exemptions; broadening the tax base; switching to a territorial tax system; decreasing the number of tax brackets; and lowering tax rates will lead to increased capital formation, entrepreneurship, family incomes, and economic growth. They raise some valid and important points and make some perfectly logical and reasonable arguments to support them. But because conservatives believe that tax reform should be constrained by some dubious principles, and because they don’t oppose taxes on principle, it is no surprise that they just don't get it on taxes." (01/08/15)

http://tinyurl.com/lccz5yy  

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The economics of tax dodging

January 7, 2015
posted by

EconLog EconLog
by Pierre Lemieux  

"Dodging taxes can take two forms: 'tax avoidance,' which is legal, as it uses loopholes included (often intentionally) in tax laws; and 'tax evasion,' which is illegal. The multifaceted campaign against tax dodging targets both individuals and corporations. Ultimately, of course, only individuals pay taxes. Is dodging taxes bad? And what explains the recent government outcry? To answer these questions, we need to inquire into the consequences of tax dodging. These consequences, in turn, depend on how government works." (01/05/15)

http://www.econlib.org/library/Columns/y2015/Lemieuxtaxdodging.html  

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Grimm says he won’t resign after pleading guilty to tax fraud

December 25, 2014
posted by

International Business Times    

"U.S. Representative Michael Grimm of New York said he would not resign from Congress following his guilty plea on Tuesday to a federal felony tax charge. 'As long as I'm able to serve, I'm going to,' said Grimm, who noted he easily won a third term in November despite a 20-count federal indictment unveiled in April. Grimm, a Republican, pleaded guilty in Brooklyn federal court to aiding the preparation of a false tax return in connection with a health food restaurant, Healthalicious, that he co-owned before his political career." [editor's note: Well, I have little love for Republicans or congresscritters ... but I have even less love for the IRS and don't believe anyone owes them the truth (or anything else) - TLK] (12/24/14)

http://tinyurl.com/l42pn8j  

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Reports: US Representative Michael Grimm (R-NY) to plead guilty to keeping “too much” of his own money

December 23, 2014
posted by

United Press International    

"U.S. Rep. Michael Grimm, R-N.Y., is likely to plead guilty Tuesday under numerous indictments related to felony tax charges, multiple news outlets reported, citing unnamed sources. The congressman was indicted in April on 20 charges accusing him of underreporting wages and profits for his chain of Manhattan health-food restaurants, Healthalicious." (12/22/14)

http://tinyurl.com/ofy47jx  

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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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