Taxation

O’er the Land of the 39 Percent Free

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I hope you enjoyed last weekend, because Friday didn’t mark just the end of your working week; it also marked the annual Cost of Government Day. According to Americans for Tax Reform, each U.S. resident works 224 days to pay for the cost of government, including spending and regulatory compliance, up 27 days from just three years ... [click for more]

Amazon Taxes Rely on Economic Fallacy

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The “Amazon” tax neither generates revenue nor creates a level playing field. It does eliminate profitable relationships and drive companies out-of-state, but that hasn’t stopped elected officials from plowing ahead obstinately. Concerned that people can avoid sales taxes by shopping online, seven states have passed legislation to place out-of-state retailers within their jurisdiction. Fourteen more have ... [click for more]

Tax Credits Are Not Subsidies

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Do tax credits — as well as tax deductions, tax loopholes, tax shelters, and tax exemptions — constitute subsidies? Many Republicans and conservatives think so. Senate Republicans are divided over a proposal to eliminate the Volumetric Ethanol Excise Tax Credit. An amendment to that end (S.Amdt.436) by Senator Tom Coburn (R-OK) to the Economic Development Revitalization Act of ... [click for more]

Give Me Your Money and Your Conscience

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Planned Parenthood almost closed down the U.S. government last week. A stalemate over the tax-funding of the abortion-provider almost prevented a budget deal needed to keep federal doors open. Ultimately, the Republicans tabled their demand to defund Planned Parenthood; only then did the stopgap budget move forward. That is how powerful the issue of abortion and taxes ... [click for more]

Is GE Paying Its Fair Share?

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Chances are you have used a GE appliance, turned on a GE light bulb, flown on a plane powered by a GE aircraft engine, seen a GE locomotive or wind turbine, taken out a loan from GE Capital (its lending division), or watched a program on NBC (partly owned by GE). General Electric Company (GE) is a multinational conglomerate corporation ... [click for more]

Cut the Tax Cuts

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For several years now we have been told that the Bush tax cuts will be expiring at the end of 2010. That time is now here — unless Democrats and Republicans in Congress can reach an agreement to extend them. The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act ... [click for more]

A Libertarian View of the Estate Tax

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The year 2010 is a good year to die. If you plan on dying anytime soon, then try to do so by the end of the year. Just ask the families of George Steinbrenner, Dan Duncan, Mary Janet Cargill, John Kluge, and Walter Shorenstein — all billionaires who died this year. Steinbrenner was the owner of the New York Yankees. Duncan ... [click for more]

Brace Yourself for Obamacare Taxes

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Now that President Obama’s health-insurance overhaul has become law, we can brace ourselves for the new taxes. What new taxes? Aren’t they only on the “rich” and on large companies? It’s true that the Obama plan includes new taxes on upper-income people. For example, the Medicare tax will now be applied to investment income. People making more than $200,000, will ... [click for more]

The Root of All Evil, Part 2

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Part 1 | Part 2 The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to ... [click for more]

The Root of All Evil, Part 1

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Part 1 | Part 2 He has erected a Multitude of new Offices, and sent hither Swarms of Officers to harass our People, and eat out their Substance. — The Declaration of Independence   You may think you’re safe from ... [click for more]

The Ultimate Tax Cut

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Since it is presidential campaign season, we will inevitably be treated to the usual discourse about tax cuts. Some candidates will call for tax cuts, undoubtedly as a way to bribe voters into voting for them. Others will resist the call, undoubtedly in fear that their favorite government program might not receive desired funding. In actuality, all the tax-cut ... [click for more]
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