Posts Tagged ‘ taxes ’

Five reason why it’s rock-n-roll to avoid tax

July 28, 2014
posted by

spiked spiked
by Tom Slater  

"A few weeks ago, it was revealed that three members of Sheffield indie band Arctic Monkeys had invested £1.1million of their earnings into Liberty, a Jersey-based tax-avoidance scheme. Cue shock and horror in the comment pages and the pop-culture press from people who seemed to think that just because Alex Turner and co were lairy, northern lads from reasonably humble backgrounds that they would all happily fork over nearly half of their hard-earned cash to the HMRC while saluting a portrait of Clement Attlee." (07/25/14)

http://tinyurl.com/qab3veb  

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Parasite panic

July 24, 2014
posted by

Authority!
by Timothy J Taylor  

"Have you ever spotted a fat, juicy, satisfied blood sucking tick firmly attached to your dog, and pulled it off with a pair of tweezers watching its legs flailing about wildly before you dispatched it? That's what parasites do when you suddenly deprive them of their hosts. They panic. And that's just what the alarmed parasitical politicians in Washington are doing today as they rush to decide what to do about America's corporate 'hosts' that are fed up with over taxation and are moving overseas to avoid it." (07/24/14)

http://authoritycon.blogspot.com/2014/07/parasite-panic.html  

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Tax inversion freedom vs. fiscal Berlin Wall

July 23, 2014
posted by

Richard M. Ebeling The Daily Bell
by Richard Ebeling  

"The Obama Administration has proposed its latest form of collectivist control over the American people. In a letter to Congress, U.S. Treasury Secretary Jack Lew has called for punishment and prohibition of any company that tries to move its headquarters overseas to avoid higher taxes in the United States. Plus, Mr. Lew has the audacity to call his proposed territorial imprisonment of American business 'economic patriotism.'" (07/22/14)

http://tinyurl.com/jvrbpru  

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Dirty dealing to pass the Internet Tax Mandate this week?

July 22, 2014
posted by

Campaign For Liberty Campaign for Liberty
by Norm Singleton  

"Unless you act NOW, the National Internet Tax Mandate could sail through the Senate this week! You see, Campaign for Liberty members have been so successful in keeping the National Internet Tax Mandate from even being considered by the U.S. House that the powerful interests behind it are being forced to 'get creative.' Now, a 'bipartisan' group of Senators -- led by Big Government Republican Lamar Alexander and acting on behalf of pro-Mandate special interests -- is working with Harry Reid to ram the Mandate into law by attaching it to legislation preventing governments from taxing you whenever you go online!" (07/21/14)

http://tinyurl.com/mjpw422  

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“Economic patriotism” equals “stay here and pay punitive taxes to cover our ruinous spending habit”

July 18, 2014
posted by

Bruce McQuain QandO
by Bruce McQuain  

"The point of Democrats and their use of 'economic patriotism,' of course, is to demonize and attempt to shame companies that seek relief from the business crippling effects of this government. If the company doesn't stay to be bled dry by the Dems to finance their utopian and big government schemes, well, they're just 'unpatriotic.'" (07/17/14)

http://www.qando.net/?p=16958  

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Steel tariffs to save a few jobs doesn’t work if steel tariffs cost more jobs elsewhere

July 17, 2014
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"The Obama Administration has decided to impost steel tariffs over in the US. This is because, horrors, foreign companies were willing to sell steel to US consumers at prices they wanted to pay. The argument is that this will save jobs in the steel industry." (07/17/14)

http://tinyurl.com/mkexssq  

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Australia repeals controversial carbon tax

July 17, 2014
posted by

ABC News    

"Australia's government repealed a much-maligned carbon tax on the nation's worst greenhouse gas polluters on Thursday, ending years of contention over a measure that became political poison for the lawmakers who imposed it. The Senate voted 39 to 32 to axe the 24.15 Australian dollar ($22.60) tax per metric ton of carbon dioxide that was introduced by the center-left Labor government in July 2012. Conservative lawmakers burst into applause as the vote tally was announced." (07/16/14)

 

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Lew asks Congress for ex post facto prohibition on firms leaving US

July 16, 2014
posted by

Business Week    

"The Obama administration called for immediate congressional action to stop U.S. companies from using cross-border mergers to escape the country’s tax system, the latest trend in corporate deal-making. In a letter calling for a 'new sense of economic patriotism,' Treasury Secretary Jacob J. Lew said Congress should pass tax changes retroactive to May. 'We should prevent companies from effectively renouncing their citizenship to get out of paying taxes,' Lew wrote in the letter to top congressional tax writers, which was dated yesterday and obtained by Bloomberg News." (07/16/14)

http://tinyurl.com/ldgyun2  

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On the slogan “taxation is theft”

July 16, 2014
posted by

Julian Sanchez Julian Sanchez
by Julian Sanchez  

"The slogan that 'taxation is theft' used to be fairly popular among libertarians -- particularly anarcho-capitalists, who reject the legitimacy of even taxation to support a minimal state -- and apparently, in some circles, it continues to be. Matt Zwolinski recently brought up a thoughtful old Loren Lomasky essay arguing that this is an unhelpful way for libertarians to talk, and promptly drew all sorts of fire from people who are fiercely committed to their slogan and, if anything, wish it would be chanted louder and with greater frequency. So, first, a point so trivial I'd hope it wouldn’t need to be made, but which apparently does: Taken in a strict or literal sense, the claim that 'taxation is theft' is just false." [hat tip -- Gene Callahan] (07/14/14)

http://tinyurl.com/k5n49qj  

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Progressive tax reform

July 16, 2014
posted by

Laurence M. Vance LewRockwell.com
by Laurence M. Vance  

"Are 'the rich' paying their 'fair share' of income taxes? The perpetual cry of Democrats, socialists, liberals, and progressives is that they are not. But according to the latest data from the IRS, in tax year 2011, the top 1 percent of taxpayers (in terms of adjusted gross income) paid 35.06 percent of all federal income taxes. The top five percent of taxpayers paid 56.49 percent. The top 10 percent of taxpayers paid 68.26 percent. The top 25 percent of taxpayers paid 85.62 percent of the taxes, and the top 50 percent paid a whopping 97.11 percent. So, not only are 'the rich' paying their 'fair share,' they are also paying the share of most everyone else." (07/15/14)

http://tinyurl.com/kucmred  

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Working to bury the death tax

July 10, 2014
posted by

Campaign For Liberty Campaign for Liberty
by Tim Shoemaker  

"Whatever your position on taxation, all reasonable people should be able to agree that death should not be a taxable event. The death tax was first passed nearly 100 years ago as a 'temporary tax' to help pay for the cost of U.S. involvement in WWI. As usual with government, nothing is more permanent than a temporary tax -- just ask the folks in Pennsylvania who still pay the 18% Johnstown Flood tax on all sales of wine and liquor, first passed in 1936." (07/09/14)

http://tinyurl.com/qegqp9u  

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Why no Kansas miracle?

July 8, 2014
posted by

Scott Sumner EconLog
by Scott Sumner  

"I can't imagine any serious economist predicting that the Kansas rate cut would boost Kansas GDP by 25% or more. Why did I pick that figure? Because the Kansas state income tax top rate fell from 6.45% in 2012 to 4.8% in 2014, which is roughly a 25% rate cut. In order for that rate cut to boost Kansas tax revenues, you'd have to see Kansas GDP rise by more than 25%. That's obviously absurd. Why am I even discussing such crazy ideas? Because Paul Krugman seems to want to convince his readers that lots of supply-siders believe such nonsense ..." (07/07/14)

http://econlog.econlib.org/archives/2014/07/why_no_kansas_m.html  

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Sometimes it’s the little things that matter in tax systems

July 7, 2014
posted by

Adam Smith Institute
by Tim Worstall  

"Yes, of course, tax must be collected for there are things that we really do need government to do (even if not as many as they attempt to do). And it’s probably a good idea to have certain measures in the tax law to make sure that people don’t dodge said righteously due taxes. But to add to the capital requirements for starting a business in this manner is simply ludicrous. It’s a difficult enough, and expensive enough, enterprise at the best of times. Rather better, therefore, to leave the possibility of avoidance there in the process of leaving some room for a business to even start." (07/04/14)

http://tinyurl.com/mb2rjan  

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TSA to more than double security theater taxes on airline tickets beginning July 21

July 6, 2014
posted by

ABC 7 News    

"Airline passengers are about to pay more for security [sic] screening. Following orders from Congress, on July 21, the Transportation Security Administration will raise the [tax] to $5.60 each way. That's up from $2.50 each way for a nonstop flight and $5 for a trip including connections. Trips with long stopovers -- more than four hours on most domestic travel -- will have bigger increases because each leg will trigger a new [tax]." (07/03/14)

http://tinyurl.com/lcwj4su  

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Tax flight

July 1, 2014
posted by

Foundation for Economic Education Foundation for Economic Education
by staff  

"When federal and state taxes are accounted for, The United States has the highest corporate tax rate in the world. When it comes to the top marginal rates -- including state taxes -- of individual earners, many Americans are seeing more than half their income simply taken away. It’s no surprise, then, that some of the most productive citizens are leaving for more hospitable climes." (07/0/14)

http://www.fee.org/the_freeman/detail/tax-flight  

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At the core of the IRS saga: Tax collectors as political hitmen

June 30, 2014
posted by

JD Tuccille Reason
by JD Tuccille  

"It's all good fun to mock the Internal Revenue Service's plausibility-challenged explanations for just how potentially embarrassing (to the IRS) emails were lost and why they can't be recovered, but let's not forget what's at the core of the story: the tax collection agency's long and storied history as a political hitman. IRS audits have been targeted at political opponents of incumbent presidents, tax information has been leaked about enemies of powerful members of Congress, and the agency's own employees have abused their power for personal reasons." (06/27/14)

http://tinyurl.com/kjfea9r  

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Well of course we should reform inheritance tax

June 26, 2014
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"It's just about possible to see that the great plutocratic fortunes should be broken up every generation or so to prevent the fossilisation of society: if that's something you tend to worry about which we don't very much. But to have a taxation system which attempts to do this and then doesn't is obviously entirely dysfunctional. Our current system manages to tax the small capital of the bourgeois while leaving those plutocrats untouched. We therefore really rather do want to change that taxation system." (06/26/14)

http://tinyurl.com/mnloe37  

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Benefits to the poor of Texas franchise tax repeal

June 24, 2014
posted by

National Center for Policy Analysis National Center for Policy Analysis
by Ryan H. Murphy  

"In 2013, the Beacon Hill Institute at Suffolk University modeled the economic benefits of eliminating Texas's franchise tax. The franchise tax is a tax on capital. Instituted to raise revenue for school districts, the franchise tax is calculated in a number of different ways and has gone through a few iterations. Beacon Hill researchers estimated that if Texas had eliminated the franchise tax in 2013: Investment would surge by $3.2 billion, growing to $3.4 billion by 2017. Texas would gain $6.4 billion in real disposable income in 2013 and, cumulatively, $9.8 billion by 2017. In the first year, private sector employment would grow 31,500, and the cumulative total in 2017 would be 41,500 additional jobs." (06/24/14)

http://www.ncpa.org/pub/st357  

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Tax reform is not “above politics”

June 22, 2014
posted by

spiked
by Charlie Pearson  

"Australia's tax system is in desperate need of reform. Few, if any, would say that it doesn't. However, the path to reform suggested by accountancy firm Ernst & Young (EY) in a recently published report is the wrong way to go about it." (06/20/14)

http://tinyurl.com/lqv8ygb  

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US Senate: “Bi-partisan” effort to hike gas tax

June 19, 2014
posted by

Chicago Tribune    

"Two U.S. senators on Wednesday said they want to raise the federal gasoline and diesel tax by 12 cents a gallon to prevent a fund that pays for about half of the country's transportation projects from running out of money in August. Republican Senator Bob Corker and Democrat Chris Murphy called for raising the tax 6 cents a year for two years and linking future fuel tax increases to inflation." (06/18/14)

http://tinyurl.com/nqkw7jj  

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The Christie-and-Kasich Tax Show

June 18, 2014
posted by

Heartland Institute Heartland Institute
by Jeff Stier  

"There’s an interesting phenomenon playing out in both New Jersey and Ohio: Two of the country’s most prominent conservative Republican governors have proposed new taxes of a sort that haven’t appealed even to traditionally liberal, tax-hungry state legislatures in states like Massachusetts and Washington. New Jersey governor Chris Christie and Ohio governor John Kasich have asked their legislatures to enact an excise tax, or sin tax, on the sale of electronic cigarettes (e-cigarettes). The stated goal of both governors is to equalize the tax applied to e-cigarettes with that applied to combustible-tobacco cigarettes." (06/17/14)

http://blog.heartland.org/2014/06/the-christie-and-kasich-tax-show  

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Tax exiles flee America

June 10, 2014
posted by

Doug Bandow Foundation for Economic Education
by Doug Bandow  

"Entrepreneurs are high-tailing it out of the United States, and it's the politicians' fault." (06/09/14)

http://www.fee.org/the_freeman/detail/tax-exiles-flee-america  

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Retrospective taxation and the rule of law

June 9, 2014
posted by

Eamonn Butler Adam Smith Institute
by Dr. Eamonn Butler  

"The UK is considering legislation to prevent people creating multiple trusts in order to pass wealth on to their family free of tax. Setting up a tax-exempt trust as a way of avoiding inheritance tax is very common -- particularly when the tax is levied at 40%, and now that rising house values are taking so many families into the tax. New HM Revenue & Customs rules will make it no longer possible to set up several trusts, each with its own tax-free allowance of up to £325,000. The new rules will come into force in 2015. But in order to prevent a rush of people creating new trusts, the reforms will apply retrospectively to all trusts established since June 6." (06/09/14)

http://tinyurl.com/ovlbydd  

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Swiss freeports and the invincible tax evader

June 5, 2014
posted by

Foundation for Economic Education Foundation for Economic Education
by J. Dayne Girard  

"Freeports have become the next generation of tax avoidance -- that is, legal tax evasion. Valuables (often precious metals, art, and diamonds) stored in freeports are protected from taxes and tariffs for the length of their storage. Freeports have an impressive history. They arose from the legal exemption that items 'in transit' receive from taxes and tariffs. It was expected that this exemption would only be temporary as shipped goods transferred between planes or were temporarily stored while awaiting shipment to their final destinations. But investors quickly realized another, more profitable use for them. Because there was no limit on how long something could be 'in transit,' freeports offered an innovative solution for avoiding taxes and tariffs on high-value assets." (06/04/14)

http://tinyurl.com/o36xhhf  

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Solar tax

June 4, 2014
posted by

Cagle Post
by Jen Sorensen  

Cartoon. (06/02/14)

http://www.cagle.com/2014/06/solar-tax/  

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