Oh my, the rich are feeling under attack again. Back in 2010 a proposal to raise the tax rate on big investors was compared to “Hitler invading Poland in 1939”. So I guess it was time for venture capitalist Tom Perkins to go into full whiney mode and complain that the rich are under attack […]
Remember how I reported that NFL commissioner Roger Godell took home $29 million dollars in salary? It is actually worse than that. According to NFL tax returns, in the 12 month span that ended March 31, 2013, Goodell earned $44.2 million in compensation. Their head lawyer earned $7.86 million (with an additional $1.23 million in […]
© Keef Knight I know there are many out there who think that football is included in the Bill of Rights guarantee of freedom of religion, but seriously, why is the National Football League given a massive tax break? In fact, some senators are trying to end the nonprofit status of the NFL, saying that […]
© AccordingToDevin This was sent to me by a friend. I can’t decide if it is funny or what.
© Matt Bors Isn’t it the job of the IRS to investigate tax-exempt organizations to make sure they really are legal? I sure want the IRS investigating organizations who accept anonymous money and spend it to affect elections. Not to mention tax-exempt organizations who put up websites advocating overthrow of the US government or not […]
Congress acted slightly after the last minute tonight, with the House voting to approve legislation to avert the so-called fiscal cliff. Taxes will not go up on families earning less than $450,000. But the whole point of the “fiscal cliff” was so that Congress would be pressured into dealing with the long-term deficit. Which they […]
© Clay Bennett Taxes are at historic lows since WWII. And we did pretty well while taxes were high. Why is letting them go back up to where they were during the Clinton administration such a issue? Yes, our population is aging, and this will be a problem for Social Security and Medicare, but the […]
© Tony Auth Republicans have already broken Grover Norquist’s pledge by offering to close tax loopholes, so why are they so dead set against letting the Bush tax cuts for the rich expire? Those tax cuts were never supposed to be permanent, and there are many wealthy people who think their taxes should go up. […]
Great (and short) blog post from George Takai — “Tax Me, Please“.
From Michael Grunwald in Time Magazine. Finally someone called them out on this: It’s really amazing to see political reporters dutifully passing along Republican complaints that President Obama’s opening offer in the fiscal cliff talks is just a recycled version of his old plan, when those same reporters spent the last year dutifully passing along […]
An article in the NY Times with the innocuous title “Lines Blur as Texas Gives Industries a Bonanza” brings up one of my pet peeves. The article is about how Texas gives out billions of dollars in tax breaks to entice companies to open factories in the state. Where does this money come from? Last […]
Republicans now say that they are willing to “compromise” by raising revenue in addition to cutting services, but they want to raise revenue by closing tax loopholes rather than raising tax rates. This is a hypocritical smokescreen rather than an honest proposal. Politico has an interesting article “Tax loopholes alone can’t solve fiscal cliff“, which […]
© Mike Thompson Even Republicans who are pretending to want to compromise are saying they will only do it only if the Democrats agree to “entitlement reform“, which is their code phrase for cutting Medicare and Social Security. This is their plan for gaining popularity? Or just a ploy so they won’t be blamed when […]
Leading Republican Senator Saxby Chambliss has publicly renounced Grover Norquist’s anti-tax pledge, stating “I care more about my country than I do about a 20-year-old pledge.” Chambliss may not be the first, but he is definitely the most prominent Republican to say he no longer feels bound by the pledge (which he signed) to not […]
The Village Voice has an excellent article listing “the ten most corrupt tax loopholes”. Mitt Romney says he will balance the budget (while cutting taxes and increasing military spending) by closing tax loopholes. But he won’t tell us which loopholes. For example, the loophole that allows Apple to pretend they are an Irish company and […]
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