Posts Tagged ‘ taxes ’

Help the poor by abolishing the income tax

July 21, 2016
posted by

Jacob G Hornberger Future of Freedom Foundation
by Jacob G Hornberger  

"The standard leftist position on helping the poor is: Increase income taxes on the rich and give the money to the poor in the form of welfare. The idea is that it's just not fair that someone has more money when someone has less money. By equalizing people's financial conditions, through the force of a progressive income tax and a welfare state, the financial plight of the poor will be improved. The left, however, is wrong. As our American ancestors, who lived without income taxation for more than a century, learned, the best way to help the poor would be by abolishing the income tax (and the IRS)." (07/21/16)

http://fff.org/2016/07/21/help-poor-abolishing-income-tax/  

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New grassroots project supports bottom-up tax cut plan

July 1, 2016
posted by

PRLog    

"Liberals and progressives hate regressive taxes. Conservatives and libertarians, well, they just hate taxes in general. Common ground from which well-sowed seeds might bring forth a bountiful political harvest? Activists behind the Mobilization for Incremental Tax Exemption, aka the MITE, think that's possible. The ad hoc, trans-partisan project backs two proposals: Passage of legislation mandating an annual, regularized increase in the personal exemption to the federal income tax ... and passage of legislation creating a 'FICA floor' -- an exemption to the personal/employee/self-employed share of FICA taxes ..." [press release] (07/01/16)

https://www.prlog.org/12569817-election-2016-time-for-trans-partisan-tax-cuts.html  

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Only two countries do this appalling thing — and the US is one of them

June 12, 2016
posted by

LewRockwell.com
by Nick Giambruno  

"Nearly every country in the world bases its tax system on residency rather than citizenship. If you're an Italian citizen, and you leave Italy to live and work in Dubai, you don't have to pay taxes on the income you earn abroad to the Italian government. But Eritrea levies a 2% flat tax on its citizens who live abroad. If you're an Eritrean citizen, you have to pay taxes to the Eritrean government, no matter where you live and work. The media has condemned this as 'extortion' and a 'repressive' measure by an 'authoritarian' government. ... the UN Security Council condemned Eritrea for 'using extortion, threats of violence, fraud and other illicit means to collect taxes outside of Eritrea from its nationals.' You might be wondering, 'What's the controversy? Eritrea is getting criticized, and rightly so.' That brings us to the only other country on the planet with a similar tax system ... the United States."

https://www.lewrockwell.com/2016/06/nick-giambruno/two-countries-appalling-thing/  

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Should courts get to define religion?

May 3, 2016
posted by

The Atlantic The Atlantic
by Michael O'Loughlin  

"Property-tax battles are rarely sexy. But a case now in front of the Massachusetts Supreme Judicial Court, about whether the 21 religious brothers and sisters who run the Shrine of Our Lady of LaSalette in Attleboro should have to pay taxes, could have huge repercussions. The Court's decision will be an important part of the ongoing debate in America about who defines religious practice -- believers or bureaucrats -- and whether religion itself should be afforded a special place under the law." (05/03/16)

http://www.theatlantic.com/politics/archive/2016/05/how-do-the-courts-define-religion/480903/  

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Asset forfeiture and the income tax

May 3, 2016
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Tate Fegley  

"While you are likely still recovering from Tax Day, don't be lulled into thinking that the pain is over. Your property is never fully safe from government confiscation. One of the few areas of innovation in which the state excels is how to extract ever more wealth from the productive class, and one of the fastest growing sources of revenue for insatiable governments is civil asset forfeiture (CAF)." (05/03/16)

https://mises.org/blog/asset-forfeiture-and-income-tax  

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Monopoly and empire: Ancient China’s Debate on Salt and Iron

May 2, 2016
posted by

Libertarianism.org Libertarianism.org
by Anthony Comegna  

"Responding to popular calls for lower taxes, Han rulers gradually lowered duties and in their place erected a series of state commodities monopolies. The architects of the new monopoly system erected dozens of iron foundries and salt mines outfitted with the latest technological wonders. Emperors later expanded the system to monopolize copper, bronze, all money production, and elements of the liquor trade. Prices soared alongside government revenues, prompting popular outrage and reformist desires to abolish the monopolies. In 81BC, sixty Confucian 'learned men' convened to debate the Court faction over the wisdom of standing policy. The subsequently-published Debate on Salt and Iron contains valuable ancient commentaries on the hidden costs of Empire, including the health of popular ethics ..." (05/02/16)

http://www.libertarianism.org/columns/monopoly-empire-ancient-chinas-debate-salt-iron  

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Tax Freedom Day

April 25, 2016
posted by

William F Shughart II Independent Institute
by William Shughart  

"According to the Tax Foundation, 'Tax Freedom Day' this year falls on April 24th -- six days after 2015's personal income tax returns were due (on the 18th if you forgot to file). April 24 marks the day on which the average American will have earned enough income to pay his or her total local, state and federal tax bill, which includes payroll taxes, sales taxes, excise taxes, property taxes, corporate income taxes and and taxes on individual incomes. The total bill amounts to $4.9 trillion, of which $3.6 trillion goes to Uncle Sam. Since Americans now spend a bit more than $4 trillion on food, clothing and shelter every year, local, state and federal taxes represent the single largest drain on the typical family's budget." (04/24/16)

http://blog.independent.org/2016/04/24/tax-freedom-day-2016/  

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April 15: A discomforting reminder of the past

April 18, 2016
posted by

Jacob G Hornberger Future of Freedom Foundation
by Jacob G Hornberger  

"When the American people called the federal government into existence, they were fully aware of income taxation as a way to fund it. They rejected it. They did not want this way of life for America -- that is, a way of life in which people would be scrambling to pay their taxes and file their file income tax returns every year, especially out of fear of a[n] agency like the Internal Revenue Service, a tyrannical agency that actually wields and exercises the power to destroy people. In the minds of our ancestors, that way of life wasn't consistent with the fundamental principles of a free society." (04/18/16)

http://fff.org/2016/04/18/april-15-discomforting-reminder-past/  

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“The price we pay for a civilized society,” 2016 edition

April 18, 2016
posted by

Thomas L. Knapp William Lloyd Garrison Center for Libertarian Advocacy Journalism
by Thomas L Knapp  

"Taxation is not, as Oliver Wendell Holmes, Jr. put it, 'the price we pay for a civilized society.' Taxation is theft, pure and simple. It's no different in principle than any other embezzlement scheme or protection racket. If there's a difference at all, it's a difference of manners. Muggers and extortionists are morally superior to government in that at least they don't pretend they're doing this stuff to you for your own good." (04/16/16)

http://thegarrisoncenter.org/archives/5611  

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Theft by any other name still theft

April 17, 2016
posted by

Kent McManigal Clovis News Journal
by Kent McManigal  

"What do you call the act of taking property under threat of doing something unpleasant to any victim who refuses to comply? Obviously it is theft. What do most people call an identical act when committed by government employees? Taxation. Why the hypocrisy? Giving an act a new name doesn't change its nature. Taxation is theft."

http://www.cnjonline.com/2016/04/14/mcmanigal-theft-by-any-other-name-still-theft/  

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Here’s why we’re so in favor of a carbon tax

April 14, 2016
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"Because there's sufficient head of steam up that our government, global governments, governments globally, are going to adopt some policy or other over climate change. Even proof perfect that every thermometer on the planet was being steeped in a nice cup of hot tea before being read would not and will not change that. It's thus necessary to argue for the least bad alternatives out there of what that policy is going to be. And that's the carbon tax." (04/14/16)

http://www.adamsmith.org/blog/heres-why-were-so-in-favour-of-a-carbon-tax  

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Withheld taxation is theft, even if it doesn’t feel like it

April 11, 2016
posted by

Jeffrey Tucker Foundation for Economic Education
by Jeffrey A Tucker  

"A friend of mine, who has filed income taxes for the past 15 years, faced an unusual situation this year. Instead of getting a refund like 4 out of 5 taxpayers, she suddenly found herself among the 20% who have to pay more. She had to write a check. Money that might otherwise have gone toward fixing her car, repairing her home, or getting a new smartphone, she is forced to send to the federal government. To be sure, her check only made up a fraction of what she paid in taxes last year. That she was forced to do it at all was the issue." (04/10/16)

https://fee.org/articles/withheld-taxation-is-theft-even-if-it-doesn-t-feel-like-it/  

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Latest US Treasury money grab throws $160 billion merger into doubt

April 5, 2016
posted by

KRDO News    

"Allergan shares are on track to open sharply lower Tuesday after the U.S. Treasury announced new policies that threaten Pfizer's takeover of the Ireland-based Botox maker. The pending $160 billion merger between Pfizer and Allergan is the second-biggest takeover deal of all time, according to Dealogic. The massive deal, announced in November, would see New York-based Pfizer shift its headquarters to Ireland, a move that could reduce its tax bill. The structure is emblematic of the 'tax inversion' deals that have become popular in recent years. Treasury rules announced Monday will clamp down on companies that try to reduce their tax bills by merging with foreign firms." (04/05/16)

http://www.krdo.com/news/economy-tracker/treasury-rules-throw-160-billion-merger-into-doubt/38871832  

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Wal-Mart wins suit against Puerto Rico; tax declared invalid

March 29, 2016
posted by

ABC News ABC News    

"Retail giant Walmart won a legal victory Monday in a fight over taxation by Puerto Rico's government. A federal judge in the U.S. island territory ruled that a modified tangible-property tax is invalid. The ruling was issued as Puerto Rico's government rushes to find new sources of revenue and a debt restructuring mechanism from the U.S. Congress while struggling through a decade-long economic crisis." (03/28/16)

http://abcnews.go.com/International/wireStory/walmart-wins-suit-puerto-rico-tax-declared-invalid-37986771  

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What “taxes” are (and aren’t) under the Constitution and the implications for ObamaCare

March 28, 2016
posted by

Rob Natelson Tenth Amendment Center
by Rob Natelson  

"The Constitution imposed two limits on state financial exactions: (1) a requirement of congressional consent before a state could 'lay any Duty of Tonnage' and (2) with one exception, a like requirement before a state could 'lay any Imposts or Duties on Imports or Exports.' The Constitution also authorized Congress to impose financial exactions. The Taxation Clause empowered Congress to 'lay and collect Taxes, Duties, Imposts and Excises.' The Commerce Clause empowered Congress to 'regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes.' During the founding era, commercial regulation was understood to entail financial impositions." (03/27/16)

http://tenthamendmentcenter.com/2016/03/27/what-taxes-are-and-arent-under-the-constitution-and-the-implications-for-obamacare/  

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Yes, Virginia, taxation is theft

March 28, 2016
posted by

Darryl W Perry Free Press Publications
by Darryl W Perry  

"Even though over half of Americans do provide money to the federal government it is not accurate to say they 'pay' taxes. Certainly, you could say people pay taxes though you would also need to say that someone being mugged is paying the mugger. Some will argue that governments provide services and the taxpayers are simply paying for those services. That, too, is a flawed argument since most of the so-called services are being provided without consideration of whether or not anyone actually wants the service provided by a government. This would be akin to someone mowing your lawn and pruning your hedges, without your prior consent, and then demanding payment." [text, Flash audio or MP3] (03/27/16)

http://fpp.cc/yes-virginia-taxation-is-theft/  

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Give us more tax revenue, or else

March 24, 2016
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Matthew Doarnberger  

"The budget crisis in Louisiana is so bad that it apparently threatens the upcoming college football season. This is according to the state's new Democratic governor John Bel Edwards. The current yearly budget deficit has reached $940 million. The situation is so dire that higher education in the state faces the realistic possibility of running out of money and taking college sports with it. ... Upon closer inspection of Louisiana's state budget, one can see that a major culprit for the deficit has been corporate giveaways. Under former governor Bobby Jindal's predecessor, money given to the six largest recipients of government subsidies totaled $200 million. But under Jindal, that amount grew to $1 billion. Combine this with the state's 400 other handouts, plus the raiding of rainy day funds to cover shortfalls and you have a recipe for a budget disaster. So in order to put Louisiana's fiscal house back in order, Governor Edwards has proposed one of the largest tax increases in state history." (03/24/16)

https://mises.org/library/give-us-more-tax-revenue-or-else  

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Osborne’s disastrous sugar tax decision in the budget

March 17, 2016
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"It’s not that taxing sugar is a particularly bad thing to do. There’s other nice and desirable things that we tax like booze and insurance. Hey, got to get the revenue where you can. Rather, what worries us is the monumental mountain of lies that the campaign for this tax has been built upon. Sugar consumption has been falling in recent decades even as the country gets ever porkier. It is therefore not sugar consumption driving the fact that we’re all becoming lardbuckets. If that is so the tax won’t achieve the stated goal." (03/17/16)

http://www.adamsmith.org/blog/healthcare/osbornes-disastrous-sugar-tax-decision-in-the-budget/  

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EU antitrust parasites want more info on Apples Irish tax deal

March 17, 2016
posted by

Jakarta Globe [Indonesia]    

"European Union antitrust regulators have asked Ireland to provide further details on the country's tax deal with Apple before deciding whether this constitutes illegal state aid to the iPhone maker. The European Commission, which has been investigating the Apple deal for more than two years, said on Wednesday (16/03) that Irish authorities had not responded fully to an earlier query. ... The EU competition enforcer in 2014 accused Ireland of swerving international tax rules by letting Apple shelter profits worth tens of billions of dollars from revenue collectors in return for maintaining jobs. Apple's vice-president of its European operations, Cathy Kearney, told a European Parliament hearing on Tuesday that the company had paid every cent of its [sic] taxes in Ireland." (03/17/16)

http://jakartaglobe.beritasatu.com/international/eu-regulators-want-info-apples-irish-tax-deal/  

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Tax scams and official scams

March 16, 2016
posted by

Reformed Libertarian
by C Jay Engel  

"Watch out kids! There's a new tax scam in town. According to the MarketWatch PSA, there's some scammers out there who are –- get this -– pretending to be the Real Deal, the ones in society who have the State's permission to take our money. It's always amusing, in a twisted way, to see one set of thieving plunders warn the masses of the other. Reminds me of that sticker Ron Paul had in his Congressional Office: 'Don't steal, the government hates competition.' More seriously, it's amazing the extent to which the state has infected the minds of its victims such that all that it does is considered within the bounds of moral legitimacy." (03/15/16)

http://reformedlibertarian.com/blog/tax-scams-and-official-scams/  

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UK: Osborne cuts company tax, targets sugar as growth slows

March 16, 2016
posted by

Bloomberg    

"Chancellor of the Exchequer George Osborne announced a further cut in the main rate of company tax and put a levy on sugary drinks as he warned the U.K. economy will grow less quickly in each of the next five years than previously forecast. In his annual budget speech to the House of Commons, Osborne said corporation tax will be lowered to 17 percent by 2020 from 20 percent now. ... Osborne set out plans for a tax on companies producing and importing sugar-sweetened drinks as part of a drive to cut childhood obesity. The levy will raise 520 million pounds, the chancellor said, which will be used to double the amount of cash invested in sport in elementary schools." (03/16/16)

http://www.bloomberg.com/news/articles/2016-03-16/u-k-growth-forecasts-cut-amid-more-austerity-osborne-says  

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Tax havens aren’t quite the problem many seem to think

March 16, 2016
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"Yet another report from Oxfam shouting about the iniquities of inequality, the way in which tax havens rob governments of their rightful dues and ... .well, you get the story, you've heard it screamed at you often enough. But the real point to pick up from this is how unimportant that issue of tax havens actually is .... £120 billion certainly sounds like a lot of money. But is it actually? In comparison to what? The global economy is around $70 trillion, global tax revenues are some $23 trillion. Being generous with exchange rates we might say that the tax dodging (not that we accept the sum itself but let's work with what we're being given) is 1% of government budgets. So, who thinks that the world would be just peachy if governments had another 1% of revenue? How many problems does anyone really think this will solve? No, serious question." (03/15/16)

http://www.adamsmith.org/blog/tax-spending/tax-havens-arent-quite-the-problem-many-seem-to-think/  

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Poor Americans will be stuck with the tab for Bernie Sanders’s generous promises

March 15, 2016
posted by

JD Tuccille Reason
by JD Tuccille  

"Self-described socialist presidential hopeful Bernie Sanders wants to fund generous promises of cool stuff for everybody with equally impressive taxes that would soak ... everybody. Increasing the size of the federal government by upwards of 50 percent doesn't come cheap -- the Tax Policy Center estimates that Sanders'[s] proposed tax hikes would cost $15.3 trillion over the first decade 'thereby lowering average after-tax income by 12.4 percent.' As befits a socialist, Sanders intends to soak the rich .... But researchers find that people who are more likely to succeed economically are also more likely to dodge taxes. And targeting them specifically increases the likelihood that they'll hide their money from the authorities. No matter what he intends, Sanders' proposed tax hike looks destined to fall most heavily on those who can least afford to pay the tab for his promised goodies." (03/15/16)

http://reason.com/archives/2016/03/15/poor-americans-will-be-stuck-with-the-ta  

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Why shouldn’t corporations flee high-tax countries, including America?

March 14, 2016
posted by

Doug Bandow Foundation for Economic Education
by Doug Bandow  

"Every day in Congress, it seems, a member who created a problem demands more power and money to 'solve' the resulting crisis. So it is with 'tax inversions,' by which companies change their tax domicile -- their country of residence, for tax purposes -- to escape Washington's clutches. Doing so deprives Uncle Sam of money to waste, which naturally drives politicians into a frenzy. ... High tax rates help politicians, not the country. An old-fashioned highwayman grabbed your money and went on his way. Uncle Sam seizes your cash and then uses it to boss you around in the name of helping you and everyone else. Moreover, higher corporate rates directly reduce business investment and indirectly cut consumer spending, thereby slowing job creation and economic growth." (03/14/16)

https://fee.org/articles/why-shouldn-t-corporations-flee-high-tax-countries-including-america/  

5 Comments »

Soda taxes morally, ethically bankrupt

March 8, 2016
posted by

William F Shughart II Independent Institute
by William F Shughart II  

"Shortsighted economic proposals become law every day, so the Davis City Council's rejection of a soda tax is a welcome respite from normal legislative blundering. In voting against placing a soda-tax initiative on the June ballot, the council has kept the nanny state’s nose out of the lives of its citizens. Bills to tax sugary soft drinks and require health-warning labels likewise have died or stalled in the state Legislature. Ultimately, taxing soda drinkers is ineffective, regressive and, most importantly, discriminatory." (03/07/16)

http://www.independent.org/newsroom/article.asp?id=8701  

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