taxes

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Super Committee Republicans, Democrats Not Even Close
 Clock Ticking, 
 Super Committee 
 Still Worlds Apart 
DEADLINE: NOV. 23
Oct 27, 2011 7:59 AM CDT

Clock Ticking, Super Committee Still Worlds Apart

Republicans continue to refuse to give ground on taxes

(Newser) - With their November 23 deadline looming, Democrats and Republicans on the deficit “supercommittee” exchanged initial plans yesterday—and they weren’t even close. While both sides are willing to cut entitlements, Republicans remain unwilling to compromise on taxes, Politico reports. The Republican proposal—which is about a third smaller...

8 (Out of 400) Billionaires Say Yes to Higher Taxes

Most just ignored the question from Salon

(Newser) - Salon sent queries to every single billionaire on the Forbes 400 asking whether they would be willing to pay more taxes. The results: Eight said yes (including Buffett), one said no (Charles Koch), and a few offered qualified answers somewhere in between. The other 390 or so—including Oprah,...

IRS Eyes Google As Profits Jump

Company going 'gangbusters,' boasts CEO

(Newser) - Hard times elsewhere haven't done any damage to Google's bottom line. The company has announced a whopping 26% year-on-year jump in profits for the third quarter of this year, with net income of $2.73 billion on nearly $10 billion revenue, most of it from advertising, the BBC...

Buffett: I Made $63M Last Year, Should Pay More

He paid about $7M in federal income tax

(Newser) - Warren Buffett got back in the public fray over taxes today with a letter to GOP congressman Tim Huelskamp of Kansas. Highlights:
  • Buffett wrote that his adjusted gross income last year was $62.8 million and his taxable income was $39.8 million. He paid $6.9 million in federal
...

Bloomberg Rips Buffett, Urges Tax Boost for All

Calls Warren Buffett's tax comments 'just theatrics'

(Newser) - New York Mayor Michael Bloomberg is the latest billionaire to fire back at Warren Buffett's call to raise taxes on America's super-rich, reports the New York Daily News . "The Buffett thing is just theatrics," scoffed Bloomberg on NBC's Meet the Press. "I think that...

Rich People Don&#39;t Pay Less Taxes Than Secretaries
Rich People Don't Pay Less Taxes Than Secretaries
AP Fact Check
Sep 20, 2011 1:59 PM CDT

Rich People Don't Pay Less Taxes Than Secretaries

Some do, but most don't, AP fact check finds

(Newser) - Listening to Barack Obama's speech yesterday , you might have come away with the impression that millionaires everywhere pay less in taxes than their secretaries, as Warren Buffett has oft claimed. But that's hardly the case, according to an AP fact check. The claim relies on the fact that...

GOP Rep: More Taxes Would Kill My $600K a Year

John Fleming attacks Obama deficit plan

(Newser) - Welcome to the tragic world of Rep. John Fleming: Sure, he pulled in $6.3 million last year from his Subway and UPS franchises, but "that's before you pay 500 employees, before you pay rent, you pay equipment, and food." After coughing up those expenses, the Louisiana...

Obama Plan Preview: $3T Savings, $1.5T Tax Boost

'Washington Post' bares early details of president's plan

(Newser) - Details of President Obama's new debt-reduction plan to be unveiled this morning are emerging—and it's not a pretty sight for the rich. The president will likely outline a plan to cut the federal debt by $3 trillion over the next decade, with half of that coming from...

Now Rich Germans Want to Pay More Taxes

Wealthy folks worldwide take Buffett's lead

(Newser) - Warren Buffett’s plea for raised taxes seems to have caused a chain reaction: A French group followed suit , and the head of Ferrari said he should pay more. A group of wealthy Germans is the latest to seek higher rates, the Guardian reports. The 50-member alliance has asked...

Texas Court Upholds $5 Strip Club Entrance Fee

Judges say small charge not an improper restriction on nude dancing

(Newser) - Texans headed to a strip club tonight will indeed have to pay a $5 entrance fee. The state's all-Republican Supreme Court overruled lower courts today and deemed the so-called "pole tax" constitutional, the AP reports . The fee has been levied since 2007 on clubs that both serve booze...

Perry Backed Billions in Tax Hikes

Tea Party favorite not always on Norquist's good side

(Newser) - He may be an anti-tax champion now, but Rick Perry has supported billions of dollars in tax hikes throughout his political career—among them the biggest increase that ever occurred in Texas history, the Texas Tribune reports. Just weeks ago, the governor signed an online sales tax provision aimed at...

Dear Warren, If You Feel Undertaxed, Write a Check

Wall Street Journal: Buffett's plea for higher taxes doesn't tell full story

(Newser) - Warren Buffett is again calling for higher taxes on himself and other rich people, and the Wall Street Journal would like him to put a sock in it, please. In an editorial today, the newspaper suggests Buffett isn't telling the full story. For instance, he complains that he pays...

Time for a War Tax to Cover Our Debts

10% surcharge could cover next year's bill: Walter Pincus

(Newser) - With the debt supercommittee looking to slash the deficit, some in Washington are raising an old question, notes Walter Pincus in the Washington Post : What about a tax on the wars in Iraq and Afghanistan? “These wars ought to be paid for and not put on a credit card...

If We Took Buffett's Advice, How Much Would It Help?

Quite a bit—but it likely won't happen

(Newser) - Warren Buffett made waves yesterday when he told the federal government to stop "coddling" him and other wealthy Americans and raise taxes on the rich. His plan would roll back the Bush tax cuts on people who earn more than $1 million and on capital gains and dividends income,...

New York Times Editors: Why the Gas Tax Is Essential

 Why the 
 Gas Tax Is 
 Essential 
OPINION
Aug 16, 2011 12:32 PM CDT

Why the Gas Tax Is Essential

It protects our highways, creates jobs, and aids the planet

(Newser) - The federal gas tax—18.4 cents per gallon—is due to expire Sept. 30. For the sake of our infrastructure, our economy, and our environment, we can’t let that happen, write the editors of the New York Times . Its expiration “would bankrupt the already stressed Highway Trust...

Warren Buffett: Raise My Taxes, Please

Let's have some real 'shared sacrifice'

(Newser) - Washington keeps talking about “shared sacrifice”—but it's not asking the mega-rich to join in, writes Warren Buffett in the New York Times . “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue...

Budget Meeting 'Very Constructive': Obama

Everybody meets again on Sunday

(Newser) - President Obama called the latest budget meeting “very constructive,” as both parties “came here in a spirit of compromise.” In a post-meeting press conference, Obama noted that while he and GOP leaders are “still far apart on a wide range of issues,” work would...

Angry Irish to Protest U2 at Music Fest

Glastonbury demonstrators say group avoids taxes at home

(Newser) - Activists say they plan a major protest during U2's performance at England's Glastonbury festival today, accusing the group of dodging tax taxes in Ireland. Bono "is well known for his anti-poverty campaigning," but has avoided paying Irish taxes at a time when the country desperately needs...

Cantor Pulls Out of Budget Talks
 Cantor Bails on Budget Talks 
Jun 23, 2011 10:14 AM CDT

Cantor Bails on Budget Talks

Says Boehner, Obama need to work out tax issue

(Newser) - Eric Cantor has told reporters that he’s not attending today’s Joe Biden-led budget meeting, or any future budget meetings, because the group has reached an impasse over taxes that he thinks can only be bridged by John Boehner and President Obama. “We’ve reached the point where...

IRS Agent Gets 3 Years for Cheating on Taxes

Albert Bront made fraudulent claims for himself, family members

(Newser) - In a sign there is some justice in this world, a California-based IRS agent has been sentenced to three years in prison for ... cheating on his taxes. Albert Bront earlier pleaded guilty to filing false tax returns for himself and two innocent relatives; the 51-year-old must also repay $127,000...

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