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POPSCalifornia Approves Budget; Taxes Going Up What happens in CA, is that every few year we have a budget crisis that demands that taxes be hiked. Then the money isn't uses for one-time expenses. The money is used for new programs. The new programs grow at a rate faster than CPI plus economic growth. Thus, the state is soon in a "structural deficit." Politicians then raise taxes. Lather. Rinse. Repeat. And that's why the sales tax is now pushing 10-cents and the income taxes are rising to close to 10% for the middle class. Nevada, anyone?
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POPSEconomists Rate McCain and Obama Tax Plans Keep an eye on the demographic background of the Economists. 46% Democrats, 44% Independents and 10% Republicans. 31.6% rate McCain's plan as very bad. It may be, but the survey group *may* have a certain political bent.
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POPSIs Paying Taxes Pleasurable? Here's an interesting article saying that we like to pay taxes and that it has the same effect on us as sex. (I don't know about you, but after I pay my taxes I always fall asleep.) For a different view, check out Absurd "Study" Presented as Fact. http://newsbusters.org/node/13469
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POPSThe Conservative View on Hillary's Tax Ideas Hillary has made some comments on taxation and shared prosperity that get a closer look by the conservatives at NRO. Take a look at their commentary on the EITC, corporate, and personal income tax as well as outsourcing and wages ideas. Their final comments are noteworthy because it would be difficult to ram those proposals through Congress. In addition, it's also important to note that the Bush tax cuts are set to expire on their own in the years ahead.
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POPSFixing the AMT means higher taxes elsewhere In order to replace the $500B-$1T in tax revenues, Congress is looking at increasing taxes on the rich (of course), raising the AMT ceiling but increasing the tax rate, increasing capital gains taxes, repealing the state and local tax deduction and/or changing the mortgage deduction. Good column. The AMT needs to be fixed. It'd be nice if it were just abolished. If not, then I'd like to see the AMT ceiling raised and indexed to the CPI.
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POPSNew Taxes on the Internet? Uh oh, here they come! No doubt that with the deficit spending running out of control, Congress is seeking a way to bring in more tax revenue. Why not go after net-addicted Americans?
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POPSCongress Raises Taxes on... Kids? Sometimes tax hikes fly under the radar. We are all concerned with our marginal tax rates, sales tax rates, and property tax rates. But what about the "other" taxes, fees, and things filed under "misc?"
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