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BUSINESS
March 27, 1999 | JAMES BATES, TIMES STAFF WRITER
An old show business adage is that everyone wants to get in on the act, which is what's happening in Sacramento as legislators scramble to propose bills to give tax breaks to Hollywood to keep and develop entertainment jobs in California.
ARTICLES BY DATE
BUSINESS
March 9, 2014 | By Kenneth R. Harney
WASHINGTON - You may have seen reports about a major tax reform proposal floated recently by Rep. Dave Camp of Michigan, the chairman of the House Ways and Means Committee. But you probably didn't see the grisly list of long-standing home real estate tax benefits that would be eliminated or sharply reduced under Camp's plan. Here's a quick overview. But first, some basics: •This is no back-of-the-napkin set of proposals. Camp and his committee - the primary tax-writing panel in Congress - have been working on this for two years.
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OPINION
May 4, 2012
Republicans and Democrats agree that the federal tax system is broken, but they couldn't disagree more strongly about how to fix it. That's true largely because each side clings to a different set of theories about how taxes affect the country, only some of which bear much relationship to reality. Hoping to dispel a few of the myths pervading the debate, a Washington think tank offered a report this week laying out a dozen facts about tax reform. The bottom line: Good fiscal policy comes at a steep political cost.
NEWS
February 28, 2014 | By Jon Healey
It turns out that Democrats may not be the biggest stumbling block facing Rep. Dave Camp's ambitious proposal to simplify the tax code and reduce rates. Many of Camp's Republican colleagues, convinced that their party is poised to make big gains in the November elections, don't want to take up something as controversial as a tax code overhaul this year. And Camp's bill raised hackles among some important GOP donors by targeting them for tax hikes. As soon as Camp, the chairman of the House Ways and Means Committee, unveiled his magnum opus Wednesday, his brethren started backing away from it. Although it's as thorough a rewriting of the code as you're likely to see, the GOP leadership didn't assign it the bill number they had reserved for tax-reform legislation, HR 1, signifying that Camp's proposal was anything but a consensus document.
OPINION
May 6, 2009
President Obama roiled the business community Monday by proposing to hike taxes on income generated outside the United States. The changes, which supposedly would close loopholes and remove incentives to export jobs and investment, would bring an estimated $210 billion to the Treasury over the next decade. We're all for closing loopholes and ending tax shelters that enable the wealthy to hide income.
OPINION
October 31, 2011 | Doyle McManus
Tax reform proposals are the political equivalent of science fiction: entertaining but imaginary. No tax proposal ever passes through Congress unscathed. There are too many interests that believe their survival depends on tax preferences — hence the tax code's immutable tendency to accumulate complexities as a ship collects barnacles. Still, presidential candidates' tax proposals are useful windows into their philosophies. Should income taxes on the wealthy go up or down? Should income from investments be taxed at a different rate than income from labor?
OPINION
April 15, 2010 | Doyle McManus
On April 15, every Washington policy wonk's fancy turns to thoughts of streamlining the tax code. This year's most-talked-about idea comes from two iconoclastic senators, Oregon Democrat Ron Wyden and New Hampshire Republican Judd Gregg. The two have proposed a plan that would simplify the tax law, shrink your 1040 form to a single page and even cut taxes slightly for most people who make less than $200,000 a year. Their plan still has a few kinks.
BUSINESS
February 27, 2012 | By Jim Puzzanghera
The need to deal with the soaring budget deficit, make U.S. businesses more competitive abroad and address the widening gap between rich and poor make U.S. corporate tax reform inevitable, said former top Obama administration economic aide Lawrence Summers. "Leaders in both parties should commit themselves to the goal of tax reform for growth, fairness and deficit reduction," Summers wrote in an opinion article in the Financial Times on Monday. "Nothing that is likely to be done during the next presidential term will be more important.
NEWS
October 8, 2012 | By Jon Healey
Former Massachusetts Gov. Mitt Romney has been talking about tax cuts for more than a year, but his bottom line has evolved considerably since last year's 57-point plan for the economy. Those changes raise questions about whether Romney's plan would actually promote economic growth, which was supposedly the point. The answer depends on the details, many of which Romney hasn't provided. But if it's designed the right way, a tax reform like the one Romney has advocated could still spur growth, even if it doesn't actually cut the tax bill faced by "job creators.
NEWS
February 28, 2014 | By Jon Healey
It turns out that Democrats may not be the biggest stumbling block facing Rep. Dave Camp's ambitious proposal to simplify the tax code and reduce rates. Many of Camp's Republican colleagues, convinced that their party is poised to make big gains in the November elections, don't want to take up something as controversial as a tax code overhaul this year. And Camp's bill raised hackles among some important GOP donors by targeting them for tax hikes. As soon as Camp, the chairman of the House Ways and Means Committee, unveiled his magnum opus Wednesday, his brethren started backing away from it. Although it's as thorough a rewriting of the code as you're likely to see, the GOP leadership didn't assign it the bill number they had reserved for tax-reform legislation, HR 1, signifying that Camp's proposal was anything but a consensus document.
NEWS
February 28, 2014 | By Evan Halper
The days of Hollywood and Silicon Valley aligning their charitable giving with mostly liberal causes are long gone. Doing so may be too politically costly as each is trying to get leverage over the other on a divided Capitol Hill. The big movie studios, whose executives rank among the Democratic Party's most effective fundraisers, have lately been stepping up their contributions to think tanks more commonly associated with the Republican-supporting Koch brothers. Google, the tech giant and cash cow for Democrats, has been doing the same.
NEWS
January 29, 2014 | By Doyle McManus
One way of measuring a president's agenda is by what he highlights in his State of the Union address. Another is by noticing what got left out. President Obama recycled a long list of old but unattained goals in his speech Tuesday: a higher federal minimum wage, early childhood education, immigration reform, tax reform, infrastructure spending, gun control, legislation to close the wage gap between men and women, and closing the detention center...
CALIFORNIA | LOCAL
January 22, 2014 | George Skelton, Capitol Journal
SACRAMENTO - So the state of the state's governor is static - at least until he is safely reelected. Until the election year blows over, Gov. Jerry Brown is stationary - in a crouch, protecting himself politically, satisfied with the status quo. In his 30th year in elective office - 12th as governor, after failing in three bids for the presidency and one for the U.S. Senate, and growing up watching his politician father - Brown is instinctively cautious...
BUSINESS
August 19, 2013 | By Chris O'Brien
A tax reform fact-finding tour being conducted by two prominent politicians arrives in Silicon Valley on Monday to hear from technology leaders.  Senate Finance Committee Chairman Max Baucus (D-Mont.) and House Ways and Means Committee Chairman Dave Camp (R-Mich.) will visit Square in San Francisco on Monday and Intel in Santa Clara on Tuesday.  At the second event, Intel Chief Financial Officer Stacy Smith will host the pair for a question and answer session with employees.  PHOTOS: The 10 biggest tech gadget fails   The Silicon Valley stop is the third in a kind of listening tour the two chairs of Congress' tax-writing committees are conducting as they seek to build consensus of the nation's tax codes. So far, they have barnstormed Minnesota's twin cities, Pennsylvania and New Jersey.
BUSINESS
August 9, 2013 | By Kenneth R. Harney
WASHINGTON - Since Congress has taken off on its annual summer recess, you might assume that nothing is happening on Capitol Hill that could affect the taxes you pay on your home. Quite the reverse. Staff members of the House and Senate tax-writing committees are busy putting together legislative drafts that may determine the fate of real estate's most prized tax benefits - first and second home-mortgage interest deductions, property tax write-offs, capital gains exclusions and others.
NEWS
July 5, 2013 | By Jon Healey
Back in mid-2009, when policymakers finally seemed to grasp how severe the recession was, economists at the Congressional Budget Office warned that it would take the country about six years to return to full employment. Almost four years have passed since the jobless rate peaked at 10%, and we're less than halfway back to the unemployment rates seen before the Wall Street meltdown. And that's despite the fact that the workforce has shrunk, thanks in part to retirements and more people going to school full time instead of looking for jobs.
NEWS
March 15, 2013 | By Jon Healey
The House and Senate budget committees presented their fiscal 2014 budget proposals this week with sharply different story lines. For House Budget Committee Chairman Paul Ryan (R-Wis.), the point of the exercise was to chart a path to a balanced budget that could be sustained for decades. For Senate Budget Committee Chairwoman Patty Murray (D-Wash.), it was all about reviving the economy and spurring middle-class growth to bring the deficit under control. Strip away the rhetoric, though, and you'll find that both plans have the same basic elements -- you might even say they both lay the groundwork for the long-elusive grand bargain.
CALIFORNIA | LOCAL
April 19, 1988
I'd like to offer my heartfelt congratulations to everyone who wrote your paper to complain about the new tax law. While they may have thought of themselves as humble middle-income Americans, their higher tax bills reveal their true status--the upper class, with incomes (probably) in the top 10% of U.S. taxpayers. MARTIN MARKOVICH Sacramento
NEWS
May 8, 2013 | By Sandra Hernandez
Over the last few years the Republican Party has campaigned hard against comprehensive immigration reform and in favor of tougher internal enforcement and beefed-up security along the U.S. border with Mexico. Now the GOP leadership is hoping to persuade its base to consider a different option: a bipartisan Senate bill that would result in sweeping changes to existing immigration laws. The bill would also create a pathway for millions of immigrants who are illegally in the United States to remain in the country and eventually apply for citizenship.
NEWS
April 23, 2013 | By Jon Healey
This post has been updated, as indicated below. Six-term Sen. Max Baucus (D-Mont.), the chairman of the Senate Finance Committee, announced Tuesday that he won't run for reelection in 2014. You may now kiss any hope of a sweeping tax reform bill goodbye. I'm not saying this out of any particular fandom for Baucus, although I think he's a good guy. I just believe it will be too hard to overhaul the tax code with a lame-duck chairman of the Senate's tax-writing committee.
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