taxes

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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...

How Much Tax Does Big Oil Actually Pay?

It comes down to how you crunch the numbers

(Newser) - If you ask Exxon Mobil, the firm will say last year’s taxes exceeded US income—but a Washington think tank will tell you the big oil company didn’t pay a cent the year before that. “It all depends on how you count,” writes Steven Mufson in...

'Gang of Six:' $3 in Cuts for Every $1 Raised

There's something for everyone to hate

(Newser) - The budget plan the bipartisan Gang of Six ultimately devises will include $3 of spending cuts for every dollar it raises in additional tax revenues, Mark Warner tells Bloomberg , promising cuts in health care, defense, agriculture, and other domestic programs, along with changes to Medicare, Medicaid, and Social Security. The...

House Progressives Release Their Own Budget

Ends Bush tax cuts, adds public health care option

(Newser) - As the budget debate continues, the House Progressive Caucus has released a plan of its own—and it's all about taxes. Their proposal would end the Bush tax cuts, add new tax brackets for millionaires, and raise corporate taxes. It would also add a public option to health care...

Super Rich Tax Rate Plummets

 Super Rich's 
 Tax Rate Plummets 
Nearly half of US pays no tax
Apr 18, 2011 4:12 AM CDT

Super Rich's Tax Rate Plummets

Average rate for richies plunges to 17% from 26%

(Newser) - Some Tax Day trivia: The super rich are paying a far lower tax rate than they did 20 years ago, and nearly half of all US households—including both rich and poor—pay no taxes at all. People with the 400 highest adjusted gross incomes paid nearly $345 million in...

Walter Monday: US Must Raise Taxes to Fix Its Deficit Problems, He Writes in Washington Post Essay
 Walter Mondale: 
 We Must Raise Taxes 
opinion
Apr 16, 2011 10:53 AM CDT

Walter Mondale: We Must Raise Taxes

It's a politically risky but necessary for the country, says former VP

(Newser) - Walter Mondale returns to a familiar theme in a Washington Post op-ed: "We will not be able to control our budget deficits without raising taxes," he declares in the first sentence. As Mondale himself acknowedges, he's become the poster boy for why candidates should never bring up...

Stewart: No Taxes for GE? I Give Up

Worse, President Obama doesn't seem to care, he notes

(Newser) - The GOP often argues that "we're making it harder and harder for good, honest corporate citizens to create jobs here" thanks to a stiff corporate tax rate, Jon Stewart noted last night . "Can you blame a company like GE for not wanting to do business in America when...

GE 2010 Profits: $14.2B GE Tax Bill: $0

In fact, it earned a tax benefit of $3.2B

(Newser) - General Electric is America’s biggest firm, but it’s not paying a dime in US taxes this year—instead, it has claimed a $3.2 billion tax benefit, the New York Times reports. Though it made a $14.2 billion profit in 2010, $5.1 billion of which was...

Federal Taxes at Lowest Level Since 1950

But rates will increase in the coming years

(Newser) - Griping about high taxes? Not so fast: Federal tax bills are at historic lows this year, and for the third consecutive year, families and businesses will pay less than they did under George W Bush. The government’s take—as a share of the national economy—is its lowest since...

Now You Can File Taxes by iPhone
Now You Can File
Taxes by iPhone
Jan 15, 2011 11:34 AM CST

Now You Can File Taxes by iPhone

1040EZ filers can use Snap Tax app on mobile phones

(Newser) - Filers with uncomplicated taxes can take care of business in a matter of minutes—by smartphone, of course. Intuit's $15 Snap Tax app works on iPhones and Android phones by taking a photo of the filer's W-2, then using that data to fill out the form, explains the New York ...

'Political Morality' Divides America
'Political Morality'
Divides America
paul krugman
Jan 14, 2011 1:21 PM CST

'Political Morality' Divides America

Krugman: We can't agree on fundamentals; let's strive to raise the tone

(Newser) - Calls for unity are welcome, but it’s time we face facts: America is a country “deeply divided” by “fundamental disagreement about the proper role of government,” writes Paul Krugman in the New York Times . The left believes the wealthy should be taxed to help the poor;...

Income Taxes Go Up 67% in Illinois
Income Taxes Go Up
67% in Illinois
Jan 12, 2011 12:51 PM CST

Income Taxes Go Up 67% in Illinois

Lawmakers approve last-minute increase for strapped state

(Newser) - Budget trouble in Illinois will hit residents' wallets: Lawmakers approved a 67% increase in the personal income tax rate (from 3% to 5%) along with a 46% hike for businesses (from 4.8% to 7%), reports the Tribune . The Legislature did so in the wee hours as its final act...

Swiss Village: Pay Dog Tax, or We Kill Fido

That's one way to get residents to pay...

(Newser) - Don’t want to pay your dog tax? Then your dog will be executed—at least, that’s how one Swiss village is handling the problem. A Reconvilier official says the town—population 2,245 humans, 280 canines—can legally kill a dog if its owner doesn’t cough up...

Rich People, Stop Whining and Dig Deeper
Rich People, Stop Whining and Dig Deeper
michael kinsley
Oct 19, 2010 1:29 PM CDT

Rich People, Stop Whining and Dig Deeper

Michael Kinsley: Two professorial screeds are off-base

(Newser) - Two high-profile attacks on President Obama's plan to raise taxes on those making more than $250,000 are mostly bunk, writes Michael Kinsley. Both were written by rich professors, and the first is simply a "self-righteous screed" by someone whining about the hardships he'll face—such as having to...

The Rich Are Mad as Hell, and Getting Away With It

Wealthy dodge modest tax hikes while everyone else suffers

(Newser) - “Anger is sweeping America,” Paul Krugman writes in the New York Times , and no, “I’m not talking about the Tea Partiers. I’m talking about the rich.” Although the recession has taken homes and jobs away from millions of poor Americans, “real political rage”...

Democrats to Fight to Keep Tax Cuts for Rich

Small but growing group backing away

(Newser) - All those fears about Obama raising income taxes on the rich may prove unfounded, if a small but growing group of moderate Democrats gets its way. Whether they're nervous about facing tax-hating constituents, hail from areas teeming with rich taxpayers, or just don't want to be seen as boosting taxes...

The Truth About Philly's 'Blog Tax'
The Truth
About Philly's 'Blog Tax'
Aug 27, 2010 2:54 PM CDT

The Truth About Philly's 'Blog Tax'

...Is that it doesn't exist. Here's why you should still be annoyed

(Newser) - Lately, the blogosphere has been chattering about a supposed “blogging tax” in Philadelphia. The story goes that Philly is strapped for cash, so it’s forcing bloggers who sell ads to buy a $300 “business privilege license.” But that’s not actually true, writes Philly-based Wired blogger...

Man Pays Back Taxes in Pennies
 Man Pays Back Taxes in Pennies 
Aug 13, 2010 12:08 PM CDT

Man Pays Back Taxes in Pennies

He had to visit 10 banks to do it

(Newser) - The city of Hartford got its most annoying tax payment ever yesterday, when a man showed up with a hand truck full of more than 30,000 pennies. Brian Kiros was furious over his $301.76 tax bill: He’d moved to Vermont a year and a half earlier but...

Suck It Up&mdash; We Need Taxes

 Suck It Up— 
 We Need 
 Taxes 
Paul Krugman
Aug 9, 2010 1:58 PM CDT

Suck It Up— We Need Taxes

Our basic government functions are falling by the wayside

(Newser) - Local governments across America are cutting back on basic services that virtually everyone needs—roads are being broken down into gravel, teachers laid off, and, in at least one town, the street lights literally turned off—because they have no money and can’t stomach a tax increase. The situation...

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