May 12, 2014
By the Editorial Board, May 12, 2014 With varying degrees of aggressiveness and specificity, all seven candidates for governor are pledging to change Maryland’s tax code. The ideas range from eliminating the income tax altogether (Republicans David Craig and Charles Lollar) to raising taxes on millionaires and multi-state corporations to pay for cuts for small […]
May 7, 2014
The article misdiagnosed the cause of the looming shortfall in the Highway Trust Fund when it stated that the fund "relies on the 18.4-cent federal gas tax, which has eroded steadily as vehicles have become more energy efficient.
May 5, 2014
(Original Post) Editorial Board, The Scranton Times Tribune, May 4, 2014 Faced with growing budget deficit partially of its own making, the Corbett administration likely will retreat from its previously planned 3.7 percent increase in state spending this election year and move instead to cut about $800 million from its tentative budget proposal. It’s not […]
April 30, 2014
The worry is that companies will increasingly seek to reduce their US tax bill -- and deny the US government needed funds -- by using accounting measures to push even more income abroad, said Matt Gardner, executive director of the Institute on Taxation and Economic Policy. "Our concern is that the next step is that they will even shift their US profits on paper offshore," he said
April 30, 2014
(Original post) By John Reitmeyer, April 30, 2014 Governor Christie said “there’s nothing off the table” as he considers ways to plug a projected $807 million budget gap with just two months left in New Jersey’s fiscal year. “I’m going to use every tool at my disposal to get a balanced budget,” he said. […]
April 28, 2014
(Original post) By the Editorial Board, April 25, 2014 Because Texas property taxes are among the highest in the U.S., the idea of replacing them is tantalizing. Be careful what you wish for. In the race for Texas Comptroller, GOP nominee Glenn Hegar has suggested supplanting property taxes with sales taxes. Democratic nominee Mike Collier […]
April 25, 2014
Lawmakers on Capitol Hill have been complaining for years about corporate tax havens. The Congressional Research Services reports that offshore tax shelters cost the federal government between $30 billion and $90 billion a year.
April 23, 2014
When it comes to state and local taxes, you find precisely the opposite: higher-income families pay a smaller share of their income in taxes while lower-income families pay more. It is called a regressive tax system, and you'll find it in virtually every state, including Massachusetts.
April 21, 2014
(Original Post) by Rozali Telbis, CorpWatch Blog April 15th, 2014 Caterpillar equipment. Photo: Kelly Michals. Used under Creative Commons license. Caterpillar – one of the world’s largest maker of construction and mining equipment – used a subsidiary in Switzerland to avoid paying $2.4 billion in taxes over a period of 13 years, according to a […]
April 21, 2014
Posted on April 21, 2014 by Dustin Hurst The losses continue to pile up for Idaho’s embattled Workforce Development Fund. This time it’s the closure of clothier Coldwater Creek that’s leaving a black mark on the state program’s record. As Sandpoint-based Coldwater Creek enters bankruptcy and planned liquidation, Idaho taxpayers are losing out on thousands […]
April 18, 2014
By Mike Lindblom While most big transit agencies in the U.S. slashed service during the recession, King County Metro Transit managed to hang on. Managers shifted a $100 million surplus from a fleet-replacement fund to keep existing buses rolling. And the agency made painful choices — raising fares, while cutting some low-use routes to cram […]
April 17, 2014
(Original Post) BY PETER R. CRABB Professor of finance and economics at Northwest Nazarene University in Nampa April 16, 2014 Earlier this month, Idaho Gov. Butch Otter signed a new state law that will refund up to 30 percent of state corporate income taxes, payroll taxes and sales taxes for any business that creates 50 […]
April 17, 2014
(Original Post) Thursday, April 17, 2014 By DAVID A. LIEB ~ The Associated Press JEFFERSON CITY, Mo. — Setting up a likely veto showdown, the Republican-led Missouri Legislature gave final approval Wednesday to an income-tax cut for millions of individuals and thousands of business owners that Democratic Gov. Jay Nixon warned could imperil funding for […]
April 17, 2014
(Original Post) Well here’s an interesting tidbit. Fast Company has published a report from Citizens for Tax Justice and the Institute on Taxation and Economic Policy which took a look at Fortune 500 companies and whether or not they paid federal corporate tax in the last five years. Of the 500, 111 paid no taxes […]
April 16, 2014
(Original Post) Written by Amy Grenier Death and taxes, according to Benjamin Franklin, are the only things in life that are certain. And despite the prevailing myth perpetrated by nativist groups, there are plenty of undocumented immigrants facing the certainty of taxes on April 15. They pay billions in state and local taxes every year […]
April 16, 2014
(Original Post) Within the past few days, thousands of North Carolinians have been scurrying to complete and file their state and federal income tax returns. As always, there is a call for a simpler and more equitable tax code. As usual, very little is done to make taxes simpler or achieve a more equitable system. […]
April 16, 2014
In the April 22 mail ballot, King County voters are being asked to increase their sales taxes and their car tabs to fund Metro Transit and fix roads. As the campaign enters its last week, here’s an assessment of some arguments being made on both sides. By Mike Lindblom Seattle Times transportation reporter While most […]
April 16, 2014
(Original Post) By AMNY.COM April 15, 2014 Paying taxes can be a painful experience. But that pain is not necessarily felt by some corporations that pay little to no taxes due to loopholes (and plenty of high-price consulting help). In fact, 26 Fortune 500 corporations reported negative taxes due to rebates. The nonprofits Citizens for […]
April 16, 2014
(Original Post) You might want to turn yourself into a corporation after reading this new report that looks at the surprising number of companies that pay no taxes at all. Tax day came and went this week, resulting in a collective moan about writing a check to Uncle Sam. Want to minimize your tax burden […]
April 14, 2014
(Original Post) By Teresa Puente, Sunday at 8:38 pm President Obama has failed to persuade the Republican controlled U.S. House of Representatives to pass immigration reform, but if anybody can make a moral argument it is Pope Francis. These two men who broke barriers, the first Latin American pope and the first African- American president, […]
April 11, 2014
(Original post) Col Owens, April 11, 2014 The General Assembly has just passed another inadequate state budget. And once again, it has failed to give Kentucky a tax system that will allow it to compete in the 21st century economy. As a legal aid attorney and education advocate for 35 years, I’ve long witnessed firsthand […]
April 11, 2014
(Original post) By Eric Zorn, April 11, 2014 I reject … the idea of a city income tax. I think that’s not the right way to go… Chicago Mayor Rahm Emanuel, responding Wednesday to questions about how the city will shore up its sagging pension funds I reject the idea, too, just as I reject […]
April 11, 2014
Information from the Institute on Taxation and Economic policy showed the top 1 percent of Ohio taxpayers would receive about $2,847 in tax cuts, but Schiller said residents making between $34,000 and $54,000 a year would only see a tax break of about $13.
April 9, 2014
(Original Post) Written by Alisa Roth & LOTL Staff on Tuesday, April 8th, 2014 Clara Orozco got her first job, waiting tables, three days after she arrived in New York from Mexico. Since then, she’s worked as a cashier at McDonald’s, painted nails, and cleaned houses. And every year, whether she’s been paid by cash […]
April 8, 2014
(Original Post) 5:07 p.m. CDT April 7, 2014 Tennessee lawmakers are seriously considering a new proposal to roll back the state’s tax on investments, even as they wrestle with a growing hole in the state budget. More than 90 legislators have signed onto a pledge from a prominent anti-tax organization to support a measure that […]
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