Obamacare Is about to Make Taxes More Complicated

I know that it seems impossible that someone would make taxes more complicated, but according to one expert that is exactly what is about to happen. The Washington Examiner reported on what H&R Block CEO William Cobb said about the coming tax season: “As expected, the forms are very detailed and can present significant complexity, depending on a filer’s coverage status during the year, income level, and household composition,” Cobb said. “Depending on their situation, there are Read more […]

Pennsylvania Tea Party Victory? Not Quite, Sadly

I don’t know if any of the legislators pushing this agenda consider themselves Pennsylvania Tea Party or not, but the agenda certainly seems Tea Party friendly at first glance. Fox News reported, One year and five months — that’s how long bipartisan legislation that would eliminate school property taxes in Pennsylvania has been stuck in the Pennsylvania Senate’s Finance Committee. “It seems like we’ve been pushing it for years,” said state Sen. David Argall, the Schuylkill Read more […]

NJ Legislature Raised Taxes On Wealthy, But Wealthy Vetoed With Their Feet

The study was completed last year but they delayed release in order to give lawmakers a chance to consider the data with minimal pressure from an election. According to the Washington Beacon: New Jersey’s high taxes may be costing the state billions of dollars a year in lost revenue as high-earning residents flee, according to a recent study. […] The study shows the state has been steadily losing high-net-worth residents since 2004, when Democratic Gov. Jim McGreevey signed the millionaire’s Read more […]

Our International Leaders Are Parasite Pirates: Want 71% Top Income Tax Rate & Worse

As you may have noticed, the economy of not only the US but the world has been suffering for the last few years. Obviously we need economic growth. But it isn’t obvious to our international ruling class. The only problem they see with the economic hard times is that the government is not able to squeeze more revenue out of the populace to use as leverage for more debt and spending. From the Wall Street Journal: In his November investment commentary for bond giant Pimco, Mr. Gross asks the Read more […]

Rich Don’t Pay Their Fair Share; They Pay Everyone’s Share

CNBC reported on a Congressional Budget Office finding that the top 40 percent of wage earners pay 106 percent of the income tax, while the lower 40 percent pay a “negative” nine percent of the income tax. In other words, they get more money back than they pay in. You read that right. One group is paying more than 100 percent of individual income taxes, the other is paying less than zero. […] How does someone pay negative taxes? The CBO’s formula offsets whatever taxes are paid with “refundable Read more […]

America Succumbs

Mitt Romney’s statement of fact that 47 percent of Americans pay no income tax has finally brought that piece of datum to the attention of the mainstream (although some estimates have the number at 49.5 percent). Whether that 47- or 49-percent number decreases or increases will determine ultimately whether the United States of America will sustain or collapse. It is the most important discussion for America to have right now. The media hoped that by releasing the surreptitiously recorded video Read more […]

Why Talking about ‘Tax Cuts’ is Not a Good Campaign Issue But It’s Necessary

There is little incentive for nearly 50 percent of the population to care about a reduction in taxes since they are the beneficiaries of high taxes. A reduction in taxes would mean a reduction in what they get through wealth transfer payments. If the tax reduction argument is used, it must be explained in a way that shows it’s a benefit to everyone. But even this is difficult since politicians live on confiscated money in order to buy votes so they can stay in office. In addition, millions of Read more […]