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OPINION
May 24, 2013
Re "Apple execs grilled over tax strategy," Business, May 22 Unbelievable, stunning, incredible that members of Congress have the audacity to bring the chief executive of one of the most successful companies this country has ever seen to grill him on Apple Inc.'s tax strategy (which, by the way, is perfectly legal) so they can try to wring more money out of him. Apple paid $6 billion in taxes last year; isn't that enough? Forcing Chief Executive Tim Cook to respond to legislators who have been on the public dole much of their lives and haven't done much in the way of intellectual innovation (or even fixing this country economically)
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OPINION
April 27, 2014
Re “Low on lodging, L.A. tourism lags,” Business, April 23, and “L.A.'s room service: City should be more selective with downtown tax breaks, some say,” April 19 On the one hand, you've got the article about hotel construction firms saying they can't build without multiyear tax breaks. Then there's the story about L.A. lacking sufficient lodging and tourism lagging. One development officer says his firm is “very bullish on Los Angeles.” If these companies are so bullish on L.A. , they should not be asking for handouts every time they want to construct a hotel in an area that is in desperate need of them.
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OPINION
May 5, 2012
Re "A truly loopy tax loophole," Column, May 3 It's deja vu all over again. A provision of Proposition 24 on the November 2010 ballot would have eliminated the option that multi-state businesses have to choose between two tax formulas. Proposition 24 was defeated. Sandra Wolber Granada Hills ALSO: Letters: Getting Bin Laden Postscript: An anti-Vatican bias? Letters: A truth filter for political ads
BUSINESS
April 27, 2014 | Liz Weston, Money Talk
Dear Liz: I got a big tax refund this year and am trying to figure out what to do with the money. Right now I have school loans with a 4% interest rate that I do not need to make a payment on until 2024 with my current payment plan, but the amount I owe is pretty hefty and I know it's going to compound more over time. I also have a very low-interest car loan (1.9%) that will be paid off in 31/2 years. I also could put that money in the market in hopes that it will grow. I should add I am 27 years old. Any advice?
CALIFORNIA | LOCAL
August 24, 1993
Hallelujah!--are the rich to begin to pay their fair share of taxes? GENE GALVIN Los Angeles
OPINION
August 1, 2012
Re "Streets paved with frustration," July 29 William Fleischman's comment that he and his fellow Holmby Hills residents pay "millions of dollars to Los Angeles in property taxes, and we're getting back thousands of dollars in services" must be in jest. Perhaps he forgot about the police, fire, justice, permitting, planning, parks, recreation, street lighting and multiple other services the city of Los Angeles provides. Our infrastructure, at all governmental levels, is in disrepair, as we have been falsely led to believe we don't have to pay for it. What we do pay is not adequate for the level of infrastructure Fleischman demands.
OPINION
April 21, 2013
Re "Soaking taxpayers, again," Opinion, April 17 Each law that Lloyd Billingsley considers as "soaking taxpayers" is aimed at rectifying some of the many social costs that occur when the notion of some mythical freedom includes destroying the environment and our well-being. The price of a healthy society for all is taxes. Billingsley can deride these taxes if he wishes, but when he says that "hundreds of millions of dollars" spent on mental health care and affordable housing will never be enough for the politicians, you have to wonder where he thinks our social resources should be going.
OPINION
November 8, 2012
Re: “ Tax, but don't overspend ,” editorial, Nov. 8 Thanks for your well-written editorial, but I think you missed one crucial point associated with the likely Democratic super-majority. You stated that Gov. Jerry Brown “pledged not to let Sacramento go on the sort of spending binges that marked the dot-com-bubble years.” That sounds good, but with a super-majority, significant checks and balances are lost. The governor is irrelevant; long live the governor. James Bishop Torrance Your editorial states: “But before lawmakers start making plans to spend their bounty, they need to consider what voters expect in return for backing Proposition 30: an end to the fiscal shenanigans that have sent the state careening from one budget crisis to another.” I would like to be as optimistic as you are. However, the prevailing ideology in Sacramento of borrowing and spending is still in place.
BUSINESS
January 21, 2010 | Michael Hiltzik
In almost every criminal case -- at least the ones that get ripped from the headlines and end up on "Law & Order" -- there's a point when the D.A. offers a plea bargain. Everyone knows how this works: The prosecutor tries to impose the harshest deal possible, given the holes in his case; the defendant, knowing he's getting off easy, faces the music and shuts up about the extenuating circumstances. So why are President Obama and the banking industry misplaying their roles so badly in the debate over the administration's new bank tax?
NEWS
April 26, 2014 | By Jon Healey
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.
CALIFORNIA | LOCAL
April 24, 2014 | By Patrick McGreevy
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)
BUSINESS
April 24, 2014 | By Jim Puzzanghera
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.
NEWS
April 23, 2014 | By Patt Morrison
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.
BUSINESS
April 23, 2014 | By Jim Puzzanghera, This post has been updated with the latest developments.
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.
OPINION
April 22, 2014 | By The Times editorial board
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.
SPORTS
April 21, 2014 | By Dylan Hernandez
The Dodgers are in first place, but they might not be for long if something doesn't change. "I don't think we can sustain this pace," Manager Don Mattingly said. The bullpen is overworked, enough to where the Dodgers decided to face the Philadelphia Phillies on Monday with a four-man bench so they could add hard-throwing reliever Jose Dominguez to their roster. BOX SCORE: Phillies 7, Dodgers 0 Whatever Chone Figgins' demotion to triple-A Albuquerque did to address the potential crisis was almost immediately undone by Paul Maholm, who pitched only five innings of a 7-0 defeat at Dodger Stadium.
OPINION
April 19, 2014
Re "Alibaba plans giant IPO in U.S.," Business, April 17 Like many Chinese tech and new-media firms, e-commerce giant Alibaba makes use of offshore corporate vehicles in the Cayman Islands. The other Chinese company mentioned in your article, Weibo, is also incorporated in the Caymans. Given that the IRS' tax filing deadline was April 15, it seems fitting to note that the attraction of the American exchanges for Chinese companies is not just better infrastructure and potential higher valuations, as your article suggests, but the convenience of offshore tax havens on our doorstep.
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