Barb’s Blog » Entries tagged with "tax"
Tax Tsunami
From Investors.com Many voters are looking forward to 2011, hoping a new Congress will put the country back on the right track. But unless something’s done soon, the new year will also come with a raft of tax hikes — including a return of the death tax — that will be real killers.Through the end of this year, the federal estate tax rate is zero — thanks to the package of broad-based … Read entire article »
Filed under: News Items
NOW They Call it a Tax!
From the New York Times: When Congress required most Americans to obtain health insurance or pay a penalty, Democrats denied that they were creating a new tax. But in court, the Obama administration and its allies now defend the requirement as an exercise of the government’s “power to lay and collect taxes.”And that power, they say, is even more sweeping than the federal power to regulate interstate commerce. Administration officials say the tax argument is a linchpin of their legal case in defense of the health care overhaul and its individual mandate, now being challenged in court by more than 20 states and several private organizations. Under the legislation signed by President Obama in March, most Americans will have to maintain “minimum essential … Read entire article »
Filed under: News Items
Tanning Salons Burned
When the tax on tanning salons came about, I felt a little indifferent about it. I neither use them nor think they are healthy. However the tanning salon industry isn’t too happy: From the Washington Post ….Anxiety over the fate of the Arlington tanning salon has been running high ever since a “tan tax” took effect Thursday. One of the less publicized measures in the new health-care law, the tax imposes a 10 percent surcharge on the use of ultraviolet indoor tanning beds. Supporters — including the Obama administration, congressional Democrats and dermatologists — have argued that the tax will raise an estimated $2.7 billion toward the cost of expanding health coverage to the uninsured, while discouraging a practice that increases the risk of skin cancer by … Read entire article »
Filed under: News Items
Backdoor Taxes to Hit Middle Class
Obama promised no taxes on middle and lower class, but there is one way the common folk like you and me could feel that promise broken is if Obama allows the Bush administration’s Economic Growth and Tax Relief Reconciliation Act of 2001 to expire. Some little reported news on Reueters: In the 2010 budget tabled by President Barack Obama on Monday, the White House wants to let billions of dollars in tax breaks expire by the end of the year — effectively a tax hike by stealth. While the administration is focusing its proposal on eliminating tax breaks for individuals who earn $250,000 a year or more, middle-class families will face a slew of these backdoor increases. The targeted tax provisions were enacted under the Bush administration’s Economic Growth and Tax Relief Reconciliation Act … Read entire article »
Filed under: News Items
In the University, All Men Are Not Equal
“This campaign to equalize test scores among unequal students is utopian and unattainable, and amounts to a scam by the education industry.” ~ Pat Buchanan We pour all kinds of money into education, but is it working? Are the young people learning? Pat Buchanan says… In a ranking of 50 states and D.C. by how much each spent per pupil in public schools in 2005, New York ranked first; D.C. third. The state spent $14,100, and New York City just a tad less. And the bountiful fruits of this massive transfer of taxpayers’ wealth? In D.C., nearly half of all black and Latino students drop out. Of those who graduate, nearly half are reading and doing math at seventh-, eighth- and ninth-grade levels. D.C. academic achievement ranks 51st, last in the U.S. Yet last week came … Read entire article »
Filed under: General
Largest Tax Increase in American History Under the Guise of Climate Change
The so called reason for this large tax increase? In all it sounds good, limit pollution and usher in an era of cleaner energy. Critics of the legislation have said it will cost too much to our already weak economy, so they wanted safeguards in place. Even as Democrats have promised that this cap-and-trade legislation won’t pinch wallets, behind the scenes they’ve acknowledged the energy price tsunami that is coming. During the brief few days in which the bill was debated in the House Energy Committee, Republicans offered three amendments: one to suspend the program if gas hit $5 a gallon; one to suspend the program if electricity prices rose 10% over 2009; and one to suspend the program if unemployment rates hit 15%. Democrats defeated all of them. So how much … Read entire article »
Filed under: News Items
Obama’s Cabinet Circus
While on the campaign trail, more and more people in Obama’s past and present seemed dubious at best. Racist preachers and terrorist co-worker to mention two. Now that he is elected, and especially after promising ethics reform, (barring lobbyist from his administration), he would, usher in a new age of responsibility. Curious then, how he found at least three people for cabinet positions that didn’t pay their taxes over years, had illegal aliens in their employ, and a lobbyist for a military contractor who is now slated to become the No. 2 official in the Pentagon. And there are the others brought into government from the influence industry even if not formally registered as lobbyists. I won’t even get started with Hillary Clinton and how she can perform with countries that have donated so much to her … Read entire article »
Filed under: News Items
Where Does the Money Go?
“If ALL the nations in the world are in debt, where did the money go?” ~ Steven Wright In July, the Washington Post reported that the Air Force sought to divert a portion of $16.2 million set aside for the global war on terror. They wanted the funds to install first-class amenities called private “comfort capsules” on the military planes that whisk top officers and civilian officials around the world. The upgrades included 37-inch flat-screen monitors, plush leather seats, and full-length mirrors intended to make the planes “aesthetically pleasing and furnished to reflect the rank of the senior leaders.” Last October, Congress budgeted $700 billion of our tax dollars to clean up the mess left by Wall Street’s supposed financial geniuses. And what price did they pay? None. Fannie Mae and Freddie Mac’sCEOs Daniel Mudd and … Read entire article »
Filed under: News Items
Deal Reached on Tax Rebates
This just came into my inbox from the Washington Post: Democratic and Republican congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per family and business tax cuts to jolt the slumping economy. My that was fast. Things must really be bad. The president just made the announcement on this idea a few days ago and just that fast, both democrats AND republicans reached a deal. I won’t complain of course, if a check comes my way. Doesn’t mean I am not worried about how quickly these two usually opposing sides came to such an agreement so quickly. Article HERE … Read entire article »
Filed under: News Items
What is a Billion???
The next time you hear a politician use the word “billion” in a casual manner, think about whether you want the “politicians” spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. A look at some taxes that never existed 100 years ago: Accounts Receivable Tax Building Permit Tax CDL License Tax Cigarette Tax Corporate Income Tax Dog License Tax Federal … Read entire article »
Filed under: General
Taxes
I just had to write a check along with sending my tax forms today. I don’t think I should have owed anything with the little I make, but heaven knows, Uncle Sam will find a way to waste it somehow, so there will be my contribution. I didn’t pass with flying colors Economics in school, but that wasn’t because it was so hard, it was more like Mr. Marcello, however old and sweet, was SO boring and the notes Donna … Read entire article »
Filed under: Personal
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