Taxes
Paul Ryan Exclusive: Obama Lacks Mandate to Raise Taxes (Divided Government)
Despite a devastating loss last week, Republican vice presidential nominee Paul Ryan rejected Democratic claims of a mandate to raise tax rates on the wealthy.
Asked whether President Obama has a mandate on taxes, Ryan told ABC News’ senior political correspondent Jonathan Karl that the House Republican majority is proof that the president does not.
Read the […]
Wealthy Dump Assets Amid Worries About Going Over ‘Cliff’
Wealthy Dump Assets Amid Worries About Going Over ‘Cliff’
Read the whole story at CNBC
California Voters Approve Higher Taxes
According to the California Secretary of State’s website, 53.9% of voters backed the measure, Proposition 30, while 46.1% voted against it, with all votes counted except for provisional and some mailed-in ballots.
Read the whole story at WSJ
Obama: Second term would be ‘mandate’ for cuts, tax increases
President Obama said in an interview aired Monday that his first priority if re-elected would be to push for passage of a debt-reduction plan to cut spending and raise taxes on the nation’s highest earners.
Appearing in a taped interview on MSNBC’s “Morning Joe,” Mr. Obama predicted that Congress can approve a plan to reduce the […]
Guess what? Taxes are going up anyway
WASHINGTON (AP) — President Barack Obama isn’t talking about it and neither is Mitt Romney. But come January, 163 million workers can expect to feel the pinch of a big tax increase regardless of who wins the election.
Read the whole story at YahooNews
The Obama Plan (The Next 4 Years Under Barack Obama) - watch the video - 4 major reasons NOT to vote for Obama
The debt will grow from $16 trillion to $20 trillion dollars (according to OMB - Office of Management and Budget))
20 Million Americans will lose their employer based health care (according to Congressional Budget Office)
Taxes on middle class will go up by $4,000 (according to American Enterprise Institute)
Energy prices will continue to go up (U.S. Energy […]
Biden: ‘Yes, We Do’ Want to Raise Taxes By a Trillion Dollars
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Property Owners Face a New “Medicare” Surtax
The housing market may indeed be recovering, as many experts suggest, but investors are still struggling to understand what, if any, taxes they’ll owe upon selling their homes.
At issue is how the new “Medicare tax” will apply to real-estate transactions.
Passed in 2010 to help fund the health-care overhaul, this 3.8% surtax kicks in next year […]
Hillary Clinton: Raise Taxes On The Rich EVERYWHERE
It’s no secret that the foreign policy of the United States tends to reflect the world views of the occupant of the White House.
Sure, there used to be some homage paid to the notion that “politics stops at the water’s edge,” but that hasn’t really been true for generations. Particularly if you are out to […]
Axelrod: Romney Manipulated Tax Return to Look Good to Voters
Senior Obama campaign adviser David Axelrod slammed Mitt Romney over the GOP challenger’s recently released 2011 tax return.
Axelrod charged Sunday on ABC’s “This Week” that the return was manipulated to give a false impression of the Romney family’s finances and “boost” the amount Romney paid to the federal government. …
(Excerpt) Read more at newsmax.com
Romney Release his 2011 Taxes, Donated 30% ($4,020,772) of his Income to Charity, Doubles Rate of Obamas’ Giving
The Romney campaign is releasing Mitt and Ann Romney’s 2011 tax return today. The campaign previews a few of the highlights here:
In 2011, the Romneys paid $1,935,708 in taxes on $13,696,951 in mostly investment income.
The Romneys’ effective tax rate for 2011 was 14.1%.
The Romneys donated $4,020,772 to charity in 2011, amounting to nearly 30% of their income.
The […]
Breaking:Mitt Romney Will Release His Full 2011 Tax Returns TODAY
Mitt Romney’s campaign announced today that it will be releasing the Romneys full 2011 tax returns online today at 3 p.m.
In a blog post this afternoon, Brad Malt, the trustee of Romney’s blind trust, said that the Romneys filed their 2011 tax return with the IRS today. Notably, the returns will be posted with a […]
HOUSE PASSES BILL MAKING IT EASIER FOR WEALTHY TO VOLUNTARILY PAY HIGHER TAXES
Remember how billionaire Warren Buffett went on and on last year about how his tax rate is too low? Well, now House Republicans have devised a new convenient way for him to donate more to the Treasury. They even named the bill after him: the Buffett Rule Act.
The legislation, approved in the House on Wednesday […]
The top 5% of earners in this country pay 64% of federal income taxes
“Fair Share”
The top 5% of earners in this country pay 64% of federal income taxes.
Barack Obama wants everyone to pay their “fair share.”
It’s fair that the other 95% of earners comprise only 36% of income revenue?
Read the whole story here
U.S. to have Highest Corporate Tax Rate in the World
Most of the time being number one is good. But when it comes to having the highest tax rate in the world, it is much better for a country to be bringing up the rear.
Currently Japan holds the inauspicious distinction of having the highest corporate income tax rate in the world (39.5 percent). The United […]
Get Ready to Pay Online Sales Tax
A price break for online shoppers may be ending soon, with growing support for sales taxes on purchases made on the internet. This means many online shoppers would pay at least 5 percent more than they do today. Republicans in Congress have joined Democrats to support a bill that would give states authority to force […]
Maryland Passes Income Tax Hike on Six-Figure Earners (Tax and Spend Liberals)
More than 300,000 Maryland residents will pay higher income taxes under a package given final approval by the legislature Wednesday.
The tax increase affects single-filers reporting income in excess of $100,000 and joint-filers reporting more than $150,000 in Maryland, the state with the nation’s highest per-capita income.
Read the whole story at WashingtonPost
Romney camp sides with Obama that health insurance mandate is not tax
Mitt Romney’s presidential campaign on Monday rejected a Republican attack on the Affordable Care Act, repudiating a contention made in last week’s Supreme Court decision that the law’s requirement that individuals carry medical coverage amounts to a tax.
The Romney team’s refusal to invoke the word “tax” with regard to the individual mandate puts the candidate […]
Numbers in High-Income Tax Bracket Decline
The number of taxpayers making more than $200,000 declined in 2009 for the second straight year, government figures Friday showed, with almost four million American filers falling into the category of people who are at the most risk of facing higher tax rates at year’s end.
The Internal Revenue Service said 3.92 million individual-income tax returns […]
98,000 federal employees owe $1 billion in back taxes
U.S. Sen. Scott Brown is pushing a new bill that he said would make it easier to collect back taxes from federal workers and members of Congress.
The Massachusetts Republican said that a recent report by the Internal Revenue Service showed that in 2010, 98,000 federal employees owed a combined $1 billion in back taxes.
Brown said […]