April 26, 2014 |
Some California lawmakers worry that California is losing too many businesses to other states. State Sens. Mark DeSaulnier (D-Concord) and Loni Hancock (D-Berkeley) evidently worry that we're not losing enough. DeSaulnier and Hancock are the authors of SB 1372 , a measure that purportedly addresses one of the most talked-about (and, Democrats hope, politically fertile) problems with the U.S. economy: income inequality. Specifically, they take aim at the compensation packages that publicly traded corporations give their chief executive officers.
April 24, 2014 |
WASHINGTON - It's not difficult to get a bonus if you work for the Internal Revenue Service - even if you haven't paid your own taxes. The IRS handed out a total of nearly $1.1 million in bonuses in a 27-month period to more than 1,146 employees who had been disciplined for failing to pay taxes, according to an inspector general's report. "This is outrageous," said Rep. Sam Johnson (R-Texas). "The IRS is essentially telling its employees: Break the law and we will reward you. " The employees were among more than 2,800 at the agency who received performance awards within one year of disciplinary action, such as suspensions or written reprimands for drug use, filing fraudulent time sheets or other misconduct, the report found.
CALIFORNIA | LOCAL
April 24, 2014 |
SACRAMENTO - A proposal to charge a tax on oil pumped from the ground in California was approved Thursday by a state Senate panel on grounds that it would help fund higher education in the state. The Senate Education Committee voted, 5-2, to advance the bill that would levy a 9.5% tax to raise $2 billion annually to be divided among state universities and colleges, state parks and human service programs. “California is the only major oil producer in the world that does not collect taxes on oil production,” Sen. Noreen Evans (D-Santa Rosa)
April 23, 2014 |
Do Internal Revenue Service employees have a dress code? Maybe, maybe not. But when they look in the mirror, they must see themselves wearing a target. The IRS is probably the most disliked of federal agencies. Any joke beginning “the Internal Revenue Service” is likely to get a nasty laugh, and almost any one of the 535 people on Capitol Hill would be eager to make his bones on some IRS slip-up. And a lot of them have. So of course we're all giving the eye-roll to the story that the IRS handed out about $1.1 million in bonuses and other valuable perks, like time off, to 1,100 rank-and-file workers who got in hot water with the agency, their employer, for not paying their own taxes.
April 23, 2014 |
WASHINGTON -- The IRS paid a total of about $1.1 million in bonuses over about two years to more than 1,100 employees who had been disciplined for failing to pay their own taxes, according to an inspector general's report. Those employees also received awards of more than 10,000 hours of extra time off and 69 faster-than-normal pay grade increases. They were among more than 2,800 IRS employees during that period who got performance awards within one year of disciplinary action, such as suspensions or written reprimands, the report found.
April 22, 2014 |
Nearly a decade ago, when Los Angeles gave a $270-million tax break to the developer of a 1,000-room luxury hotel at L.A. Live, city leaders described the deal as essential to spur downtown redevelopment and help the struggling Convention Center. Today, however, downtown is booming and its hotels are doing brisk business, yet developers continue to line up for taxpayer handouts. Four more hotel projects have been approved for tax breaks worth half a billion dollars over the next two decades - money that otherwise would pay for police and fire services, street paving and tree trimming.