December 5, 2012 |
Are we about to go over a fiscal cliff? It's looking more likely, but it may not be as alarming as it sounds. Here are three things you need to know about the impending crisis over the so-called fiscal cliff, the combination of tax increases and automatic spending cuts due to kick in at the turn of the year: First, it's not really a cliff; it's merely a steep, scary slope. If Congress doesn't act, federal taxes will increase by more than $500 billion next year and federal spending will be cut by about $200 billion.
November 28, 2012 |
WASHINGTON -- Six in 10 Americans support a tax increase on annual income of more than $250,000, according to a nationwide poll released Wednesday. Such a hike is the centerpiece of President Obama's efforts to avoid the large automatic tax increases and spending cuts, collectively known as the fiscal cliff, that are coming at the start of next year. The Washington Post/ABC News poll showed 73% of Democrats and 63% of independents back raising taxes on incomes over $250,000, while just 39% of Republicans support it. The poll results show the divide in Washington between Democrats and Republicans over reaching a major deficit-reduction package that would avoid the fiscal cliff.
CALIFORNIA | LOCAL
November 5, 2012 |
The Rev. J. Edgar Boyd delivered his inaugural sermon Sunday as the new pastor of First African Methodist Episcopal Church in L.A., seeking to unite and heal a congregation that had become fractured over the troubles of its former leader. Addressing worshipers, a seemingly nervous Boyd used parables to talk about forgiveness. But to the thousands in the packed room, the message was clear: A new leader was at the helm to restore the image of the oldest black pulpit in Los Angeles.
CALIFORNIA | LOCAL
November 2, 2012 |
The pastor of First African Methodist Episcopal Church, the oldest black pulpit in Los Angeles, has been reassigned after a controversial eight years that included a sexual harassment lawsuit, a federal tax investigation and questionable use of church credit cards. Pastor John J. Hunter was moved to Bethel AME San Francisco by Bishop T. Larry Kirkland. Neither Kirkland nor Hunter could be reached for comment Friday. Kirkland appointed the San Francisco church's pastor, the Rev. J. Edgar Boyd, to take the helm in Los Angeles.
October 4, 2012 |
The American Humane Assn., the century-old charity charged with overseeing the welfare of animals on films and television shows, paid nearly a quarter of a million dollars to the business partner of the board's chairman, Eric Bruner, a federal tax filing shows. The AHA paid $233,863 to Gregory Dew to provide unspecified consulting services to the nonprofit organization, making him the highest-paid "independent contractor" for the AHA in the fiscal year that ended June 30, 2011, according to a document the charity filed with the IRS. Dew is Bruner's business partner in Spectrum Consulting Group, a limited-liability company in Austin, Texas, that describes itself as "an association of management consultant experts.
September 25, 2012 |
VANDALIA, Ohio - Mitt Romney said Tuesday that President Obama did not raise taxes during his first term, contradicting a constant attack he has leveled on Obama - that his healthcare plan was a tax increase. “I admit this, he has one thing he did not do in his first four years - he's said he's going to do in the next four years - which is to raise taxes. And is there anyone who thinks raising taxes will help grow the economy? No!” Romney told thousands gathered at a chilly tarmac rally.
September 21, 2012 |
Mitt Romney paid $1.9 million in federal taxes in 2011 on income of $13.7 million, an effective rate of 14.1% that reflects the Republican presidential candidate's dividends, capital gains and other returns that are assessed at some of the lowest tax rates. Romney's tax return, which he released Friday, showed that he boosted his effective tax rate by not declaring all of the $4 million in charitable contributions that he made during 2011, instead only reporting $2.3 million. By doing so he stayed consistent with an earlier public statement that his tax rate for the year would not drop below 13%. The return does little to fundamentally change the perception of Romney's finances.
September 19, 2012
GOP presidential nominee Mitt Romney's secretly recorded comments about Americans who don't pay income taxes and Palestinians who don't want peace may finally convince Republicans that he's as conservative as he claims to be. Although blunter than usual, his remarks at a private fundraiser in May reinforce themes that Romney has been sounding in the campaign about President Obama promoting dependency on government benefits and taking the ...
August 30, 2012
Re "Execs profit at public's expense," Column, Aug. 28 David Lazarus calls the corporate tax deduction for CEO pay a loophole, but compensation is among the most straightforward of corporate expenses. The corporation pays the money to the employees, its profits are reduced by what it pays, and the employees pay taxes on what they receive. Calling this a loophole is simply wrong. There are many reasons why a corporation might not owe federal taxes in a given year; some have to do with special tax breaks, but most do not. Many economists and the president say corporate tax rates should be lower, but Lazarus doesn't.
August 17, 2012 |
Mitt Romney is really sick of talking about his taxes. But he won't release more than two years of returns (the 2011 return is said to be on the way), so people are going to keep asking for more. On Thursday in South Carolina, Romney took the bait of a reporter's question to talk about his taxes, certainly against the fervent wishes of Republicans, who would love to see the issue firmly tabled. “Over the past 10 years, I never paid less than 13%,” he said. “I think the most recent year is 13.6 or something like that.