taxes

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Reid Aide: Source on Taxless Mitt Is Bain Investor

Jose Parra initially calls source Republican, then backtracks

(Newser) - An aide to Harry Reid made waves when he gave a KTLK radio host details on Wednesday on Reid's source for his claim that Mitt Romney went a decade without paying taxes—but Jose Parra has since backtracked a bit. Parra initially told Mario Solis-Marich , "This person is...

France's 75% Tax Could Push Rich Into Mass Exodus

Rich thinking of leaving if 75% tax rate is passed

(Newser) - France's new Socialist president wants to tax any income above €1 million ($1.24 million) per year at 75%—but if the plan is passed, France could see a mass exodus of its wealthiest residents. Rich residents are calling lawyers, asking if they should consider leaving the country...

Romney Tax Plan &#39;Mathematically Impossible&#39;
Romney Tax Plan 'Mathematically Impossible'
Ezra Klein
Aug 3, 2012 11:41 AM CDT

Romney Tax Plan 'Mathematically Impossible'

Non-partisan analysis says numbers don't add up

(Newser) - Mitt Romney has said that he has an economic plan and he's "not afraid to put it on the table." But the truth is that "the only thing he has put on table is dessert," writes Ezra Klein on Bloomberg . Romney says he'll cut...

Sorry, Olympic Medalists Don't Deserve Tax Break

Last thing our tax code needs is yet another loophole: Conor Friedersdorf

(Newser) - Marco Rubio claims he wants to simplify the tax code—so why in the world is he calling for Olympians not to be taxed on their winnings? Such a plan "is a perfect example of why the tax code is a complicated and burdensome mess," writes Conor Friedersdorf...

Medal Winners Must Face Tax Man

 Medal Winners 
 Must Face 
 Tax Man 
olympics
Aug 1, 2012 5:06 PM CDT

Medal Winners Must Face Tax Man

Marco Rubio wants to stop that immediately

(Newser) - US Olympians who medal in London get to share some of their glory with the IRS. The group Americans for Tax Reform (a Grover Norquist production) breaks it down this way:
  • Gold: Given the $25,000 cash award and the value of the medal itself ($675), recipients would owe the
...

Ai Weiwei to Thousands of Supporters: Please Sue Me

Dissident artist's unusual move comes on heels of tax-case loss

(Newser) - Ai Weiwei today lost his challenge against tax evasion charges and the $2.4 million fine China has slapped him with—but he once again wasn't allowed into court to make his case, he says. Police barred him from attending today's court date, calling him to explicitly tell...

Romney: Health Mandate Is a Tax

Contradicts Eric Fehrnstrom's comments

(Newser) - Days after a spokesman asserted that ObamaCare's individual mandate is not a tax in Mitt Romney's view, the candidate himself is saying the opposite—thus aligning with the rest of his party. Romney tells CBS News that while he agreed with the Supreme Court's dissent, "the...

Romney's 'Etch-a-Sketch' Rep: Mandate Is No Tax

Mitt has skirted the issue

(Newser) - While Republicans have been busily attacking ObamaCare as a tax hike following the Supreme Court ruling, Mitt Romney has stayed quiet; after all, to call it a tax hike would be to acknowledge he raised taxes in Massachusetts. Today, however, spokesman Eric Fehrnstrom— he of "Etch-a-Sketch" fame —stated...

Here's Who Pays for Health Care Reform

Universal coverage isn't free; CNN breaks down the costs

(Newser) - Assuming the Supreme Court doesn't strike it down, the Affordable Care Act will extend health care to millions of Americans—which isn't a cheap proposition. CNN breaks down who would wind up paying for the law, and how:
  • The wealthy: Starting next year there's a Medicare surtax
...

Hill: I Dodged Taxes While Guarding My Family

Long Tumblr post explains singer's withdrawal from pop culture

(Newser) - Lauryn Hill admits she paid no taxes for a few years, but says she was busy protecting herself and her family from popular culture, the New York Post reports. In a long Tumblr post , the singer said yesterday that she withdrew from society and cast aside pop culture's "...

If Obama Wins, Romney's Tax Bill Could Jump $5M

But a Romney win would save Obama $90K

(Newser) - A fun bit of election math from two non-profit research groups: What will the effect be on rich guys Mitt Romney and Barack Obama's tax bills if the other wins? If Romney wins and enacts his own proposal, he'll pay half what he would under Obama's tax...

IMF's Lagarde, Who Blasted Tax Evaders, Pays No Taxes

Her salary from an international organization is exempt

(Newser) - IMF chief Christine Lagarde probably wants this one back: She infuriated Greeks last week by asserting that a big part of the nation's financial crisis is "all these people in Greece who are trying to escape tax." It's time for this nation of tax-dodgers to pay...

Lawmakers to Saverin: Don&#39;t Come Back
Lawmakers to Saverin: Don't Come Back
May 17, 2012 10:06 AM CDT

Lawmakers to Saverin: Don't Come Back

'Ex-PATRIOT' Act to punish those who try to dodge taxes

(Newser) - Facebook co-founder Eduardo Saverin's decision to renounce his US citizenship—and, conveniently, a lot of the taxes from his expected IPO windfall—has struck a nerve on Capitol Hill. Chuck Schumer and Bob Casey will today announce a new bill called the "Ex-PATRIOT Act" (a typically dopey acronym...

Why Food Must Be Regulated Like Tobacco

David Lazarus: It's time to stop the obesity epidemic

(Newser) - The obesity news just keeps getting worse, the latest example being the study warning that 4 in 10 American adults could be obese in less than 20 years. "Americans eat too damn much," writes David Lazarus in the Los Angeles Times . And though it may be distasteful to...

Stephen King: Raise My F***ing Taxes Already

The rich aren't going to pay up just to be nice

(Newser) - Stephen King is following Warren Buffett's lead with an op-ed begging to be taxed more—though King drops in a few more F-bombs in his very salty appeal. In "Tax Me, for F***'s Sake," the wealthy author offers his views on his fellow one-percenters: "The...

The Secrets Behind Apple's Super-Low Tax Rate

Tech giant highlights government's tax problems in information age

(Newser) - Apple is one of the most profitable companies in the world—and also one of the most aggressive and creative at avoiding taxes, reports the New York Times , which outlines a number of the company's tax-avoidance strategies. Among them:
  • Despite its well-known Cupertino, California, headquarters, Apple partly avoids the
...

GOP Senators Derail &#39;Buffett Rule&#39;
GOP Senators Derail
'Buffett Rule'
Apr 16, 2012 6:29 PM CDT

GOP Senators Derail 'Buffett Rule'

Democrats timed symbolic vote for day before taxes are due

(Newser) - Senate Republicans derailed a "Buffett rule" bill today, using the day before Americans' taxes are due to defy President Barack Obama on one of his signature election-year issues. By a near party-line 51-45 tally, senators voted to keep the bill alive but fell nine votes short of the 60...

More Americans Drop Citizenship Over Taxes

IRS rules onerous, expatriates say

(Newser) - It's April again: time to add up receipts, find little-known tax breaks , and, in some cases, renounce US citizenship altogether. In fact, a record number of Americans abroad renounced their citizenship last year as complaints increased about IRS rules, Reuters reports. One rule forces all Americans to file forms...

Buffett Rule: Just a &#39;Gimmick&#39;?
 Buffett Rule 'Scares 
 Conservatives' 
msnbc roundtable
Apr 15, 2012 2:44 PM CDT

Buffett Rule 'Scares Conservatives'

Chris Hayes hosts discussion on President Obama's tax plan

(Newser) - Chris Hayes hosted a feisty roundtable discussion today on MSNBC about the Buffet Rule, asking whether President Obama's attempt to tax the rich at 30% is just a "gimmick"—or, as Mitt Romney has warned, a needless "source of division."
  • David Cay Johnson, Reuters columnist:
...

7 Tax Breaks You Probably Don't Know About

You may be able to deduct college courses, disaster losses

(Newser) - If you've put off your taxes until the last minute, here's a little reward for your procrastination: Time offers seven tax breaks that could save you money—now that you actually know about them:
  • Higher education: There are certain credits available for qualified tuition, and you may not
...

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