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Capital will flee the U.S. more quickly as this and other taxes rise in the future — to pay for government spending. It's as if Uncle Sam didn't want us to invest in stocks and business. He'd rather we buy his bonds at a paltry 2% and take a loss due
Republican lawmakers escalated a year-end showdown with the White House, putting off a vote on extending a payroll tax holiday demanded by President Barack Obama until Tuesday.
A U.S. law aimed at curbing tax evasion by citizens using foreign accounts could cost large multinational banks as much as $100 million apiece to implement in one-off systems costs, a top asset manager and a tax lawyer told a conference on Friday.
Growing Republican support for raising taxes to help reduce the deficit has prompted a GOP identity crisis, sparking a clash within the party over whether to abandon its bedrock anti-tax doctrine. Tensions have mounted in recent days as two of the
The morning news reports the federal government has imposed a new federal tax on Christmas trees. They say the purpose of the tax is so that the federal bureaucracy can use the money to better promote the Christmas tree tradition.
...the latest salvo against offshore financial privacy from the IRS: the requirement to file a tell-all form annually with your tax return detailing “foreign financial assets” with an aggregate value exceeding $50,000.
This excerpt is from Patrick Henry's greatest speech, "Shall Liberty or Empire Be Sought?" where he argued against adoption of the Constitution. Absolutely prophetic, he knew what a strong national government would do. It is past time for this to
Legislation that would trim hundreds of millions of dollars from the Internal Revenue Service budget would force significant cuts in the services it provides taxpayers and cost the government $4 billion annually in lost revenue, the agency warned
The owners of Zuccotti Park - Occupy Wall Street's home base - have pocketed nearly $700,000 in government handouts since the 9/11 terror attacks. Brookfield Properties has received at least 3 six-figure grants meant for small businesses hurt by 9
The federal government has found a new weapon in its war on marijuana — the tax man. A San Francisco Bay area medical marijuana dispensary that promotes itself as the world's largest has been hit with a $2.4 million tax bill following an audit by
A perfect PSA to television except nobody would run it.
Mortgage finance giant Fannie Mae (FNMA.OB) said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009. The largest U.S. residential mortgage funds provider on Fri
The government is likely to lose more than $1 billion in airline ticket taxes because lawmakers left town for a month without resolving a partisan standoff over a bill to end the partial shutdown of the Federal Aviation Administration.
In spite of the rhetoric being thrown around, the real debate is over how much government spending will increase. No plan under serious consideration cuts spending in the way you and I think about it. Instead, the "cuts" being discussed are illusory
Governments have long financed wasteful or even unnecessary programs, but at a moment when both parties seem to agree that spending is out of control, the durability of small-town airport subsidies, which have outlasted four presidents who opposed th
The tax man may be on the hunt for the super fan who caught Derek Jeter's 3,000th hit. Christian Lopez, 23, recovered the prized ball his father fumbled after The Captain hammered it into their section of the stands in the third inning of the Yank
President Obama pressured Republicans on Wednesday to accept higher taxes as part of any plan to pare down the federal deficit, bluntly telling lawmakers that they “need to do their job” and strike a deal before the United States risks defaulting on
The U.S. Supreme Court on Monday struck down a law that "triggers" public funding of elections in Arizona in the event of a candidate being heavily outspent by an opponent awash with private funds.
He is the rock legend dubbed 'Saint Bono' for his long-running campaign against global poverty.
An unpopular tax filing requirement for businesses tucked into the new health care law would be repealed. The provision would require millions of businesses to file tax forms for every vendor that sells them more than $600 in goods each year, startin
US tax code and offshore regulations are great examples. Current law requires US taxpayers to report ownership interest and signature authority over foreign financial accounts (“FFAs”) if the total value of those FFAs exceeds $10,000.
During 2009, prisoners managed to collect a whopping $39.1 million in undeserved refunds from the IRS. $19 million went to prisoners in just three states: Florida, Georgia, and California. USA Today reported that as outrageously high as those amounts
While the title of the the article rhymes, the proposal is far from entertaining On page 1 of the Fiscal Year 2012 Budget of the U.S. Government you can begin to read The Budget Message of the President. In the preamble he discusses the recession
I think this legislative maneuvering is leading us to a point where a national VAT is established. That would imply that there would be very few if any deductions left. No mortgage, property or income taxes deductions would exist.
In the final days of 2010, the IRS announced because of last-minute maneuvering on Capitol Hill, the agency won't be ready to give refunds from the IRS, the delay means millions of taxpayers will have to wait to get their money back.
Calling the IRS's bluffs, there are no facts proving anyone is a taxpayer with taxable income.
By selling a block of its shares in General Motors Co. for $33 each — a price far below the "break-even" point — the government sharply reduced the chances of taxpayers fully recovering their $50 billion investment in the auto giant, a new report fro
Happy New Year: Enjoy your new taxes... RATtner gets off easy... The End of America is catching on...
"To say we're going to repeal it...is to do very serious violence to the national debt and deficit."
A government watchdog says the Internal Revenue Service is tormenting struggling taxpayers in the midst of a slumping economy by increasing the number of liens the agency has filed against people who owe back taxes.
