YOU ARE HERE: LAT HomeCollectionsIncome Tax

Income Tax

September 19, 2012 | By David Horsey, This post has been corrected. See the note below for details.
In the imaginary universe of Mitt Romney, the 47% of Americans who pay no income tax are loafers, shiftless bums and welfare queens who will all vote for President Obama in November. In the real world, that 47% includes the working poor, the newly unemployed, handicapped people, the elderly, veterans, 4,000 millionaires and the nation's greatest icon, the American cowboy. A few years ago, I helped move a herd of cattle with some honest-to-God cowboys on a big ranch near White Sulphur Springs, Mont.
August 12, 1998
In Steve Forbes' article, "Make Them Give Back Our Money" (Commentary, Aug. 7), he lists 10 things Congress should do to modify the income tax and ends with a "pro-growth, pro-family, single rate system." Does anyone really believe that Congress won't find amendments that will give special treatment for their friends? The only way to resolve this problem is to eliminate the income tax completely. It can be done, as I have written previously, by imposing a 0.15% tax on international monetary transactions, which would yield over a trillion dollars per year.
March 16, 1998
Re "Don't Penalize--or Sub- sidize--Marriage," Commentary, March 11: The marriage "penalty" in income tax is an illusion. The economics of our society is based on the couple. Hotels are routinely priced on a double occupancy basis. On cruises and travel packages, singles pay the "single supplement," which is a euphemism for "singles pay double." As everyone says these days, "You need two incomes to live middle class." If, as a single person, I want to buy a house, I buy for two--I pay the whole mortgage.
July 19, 2009 | Kathy M. Kristof
You may not like how your consulting career was born, but there are some benefits to being your own boss, not the least of which are federal income tax breaks. The moment you join the ranks of the self-employed, you get access to dozens of tax deductions and credits that aren't available to other working stiffs. Here are a few that can help get your consulting business rolling and save you a fortune next April. -- Hire your kids Under normal circumstances, kids are expensive.
August 23, 1991 | From Associated Press
Connecticut's 53-day budget impasse was broken in dramatic fashion Thursday when the House reversed itself and narrowly approved a spending plan that imposes a long-resisted state income tax. Lawmakers applauded--and some hugged and kissed--when the measure passed the House. It was signed into law by Gov. Lowell P. Weicker Jr., who had lobbied for the tax before the final House vote.
October 16, 1996 | ANNA CEKOLA
A Huntington Beach physician was sentenced to 21 months in federal prison and fined $40,000 Friday for filing false income tax returns. Dr. Nagesh Shetty, 51, owner and attending physician of Harbor Newport Medical Clinic in Costa Mesa, failed to report more than $400,000 in taxable income from 1987 to 1989, according to Assistant U.S. Atty. Kimberly Dunne, who prosecuted the case. The sentence by U.S. District Judge Gary L.
September 19, 2012 | Michael Hiltzik
By now, most Americans who take their civic responsibilities seriously have no doubt seen, or at least heard about, Mitt Romney's peculiar approach to broad-based voter outreach. We're referring, of course, to his videotaped fundraising speech in Florida, in which he characterizes 47% of the American public as people who are "dependent on the government," who "pay no income tax" and who can't be convinced to "take personal responsibility and care for their lives. " Voters can decide for themselves whether Romney's words, taken at face value, bespeak a hopelessly crabbed approach to government's role in our lives or a principled stand for private enterprise and economic freedom.
December 12, 1986 | United Press International
China will introduce an income tax next year in a bid to narrow the rapidly widening gap between rich and poor in this Communist nation, the official New China News Agency said Thursday. The "Provisions on Individual Income Regulation Tax," issued by the State Council, will apply to all Chinese citizens with residence and income in China, the agency said. The tax, to take effect Jan.
December 23, 1995 | Associated Press
The Senate late Friday approved and sent to the White House legislation that prohibits states from taxing pension income of former residents who live in another state. Critics have argued that such a tax affects tens of thousands of retirees. Sen. Harry Reid (D-Nev.), who has campaigned for such a ban for five years, said states increasingly have sought revenue through such a tax on pensions as they face growing budget problems.
May 1, 1988 | CARL INGRAM, Times Staff Writer
Senate leader David A. Roberti indicated Saturday that he would oppose increasing income taxes, even if a newly enacted tax reform law is found to be the cause of a surprise budget shortfall of as much as $1 billion. In a radio speech, the Los Angeles Democrat pinned the blame on last October's stock market crash, and charged that Deukmejian Administration tax officials failed to take it into account and make corrective adjustments.
Los Angeles Times Articles