June 20, 2013 |
Imagine a society with two tax systems. One taxes the wealth people have accumulated. The other taxes the labor people perform. This society seems to be getting along well enough, raising enough tax revenue to finance the public goods and services that voters have told lawmakers they want to see supported. Now imagine that lawmakers have decided to cut the tax rates on wealth and raise them on labor. At the same time, the amount of wealth subject to the lower tax rates is rising as income from labor is shrinking.
February 1, 2012 |
At a news conference where supporters out-numbered reporters 10 to 1, Rep. Ron Paul reiterated his plan to stop federal taxation of tips, a proposal that brought loud cheers in this tourism-dependent state, where nearly 20% of all workers rely on such income. Speaking from a podium in an opulent Four Seasons Hotel ballroom, Paul said that Las Vegas "is a city that could benefit rather quickly from one little proposal: Make sure that the United States government does not tax tips at all. " The result, he said, would be less paperwork for businessmen and service providers, many of whom are "working on the margin," especially if they are reliant on such jobs for full-time employment.
March 28, 2009 |
Faced with mounting budget deficits and the enormous cost of overhauling the nation's healthcare system, Democrats and Republicans on Capitol Hill are expressing increasing openness to an idea that once seemed unthinkable: putting taxes on some healthcare benefits. The idea of taxing medical insurance benefits has long worried many lawmakers, who are concerned that new taxes could jeopardize the employer-based health system most Americans rely on.
February 6, 2009 |
U.S. Rep. Hilda L. Solis, President Obama's choice for Labor secretary, faced new obstacles after lawmakers who were expected to vote on her confirmation Thursday abruptly canceled the hearing amid reports of back taxes owed by her husband. Solis, a Democrat from El Monte, is at least the fourth Obama nominee whose confirmation has been complicated by tax troubles.
August 14, 2013 |
Nona was looking at her cable bill recently and spotted a $3 charge she didn't recognize. Her cable company said it was a new state tax. Nona wants to know: Can they do that? Can the state just slip new taxes into your cable bill? It won't come as a surprise to cable and satellite TV customers that fees and taxes make up a hefty portion of their bill. For example, there's the Universal Connectivity Charge, state and local 911 taxes, state and local sales taxes, state communications taxes.
CALIFORNIA | LOCAL
November 5, 2009 |
Backers of various tax proposals were celebrating ballot-box victories Wednesday in such places as Culver City, Palm Springs and South Pasadena. But there was little to cheer about for supporters of similar measures in Long Beach, Rancho Palos Verdes and Ventura, where voters in Tuesday's local elections kept the purse strings tightly shut. Along with filling scores of local offices, voters in four Southern California counties decided a range of ballot measures, many of which sought money for cities and school districts hit hard by the recession and state budget cuts.
October 3, 2009 |
The Center for Science in the Public Interest believes that many states might be able to close gaps in their budgets by placing a tax on soda and other sugary drinks. The health advocacy group released a study this week that estimates budget-strapped states -- including California -- could generate a combined $10 billion a year by levying a tax of 7 cents per 12-ounce can of Coke or other beverage. Currently, 25 states impose special taxes on sugary drinks. The group, which is lobbying for such taxes and has suggested a national excise tax on sugared drinks, said raising the price of the beverages would reduce consumption.
CALIFORNIA | LOCAL
February 14, 2009 |
The average Californian's taxes would shoot up five different ways in the state budget blueprint that lawmakers hope to vote on this weekend. But the bipartisan plan for wiping out the state's giant deficit isn't so bad for large corporations, many of which would receive a permanent windfall. About $1 billion in corporate tax breaks -- directed mostly at multi-state and multinational companies -- is tucked into the proposal.
March 26, 2012 |
When it comes to economic matters, such as taxes, who do you trust more, professional politicians who worry first and foremost about being reelected, or professional economists who worry exclusively about the economy? Yeah, me too. So we should all sit up and take notice that a big majority (87%) of economists polled by the National Assn. for Business Economists says higher taxes need to be part of any serious deficit-reducing plan. The deficit is currently expected to top $1 trillion for the fourth straight year.
October 11, 2011 |
The Republican presidential candidates were put in a difficult position tonight: debating Ronald Reagan. Debate moderator Charlie Rose introduced a video clip of the former president advocating a compromise plan that might raise taxes on those who had not paid their "fair share," in order to reduce the deficits. Rose asked the candidates how they would answer the most revered man in Republican politics. "I think we're certainly talking about different times," was Texas Gov. Rick Perry's initial response.