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POPSRangel Wants To Cut* Taxes! 44% would be the highest top marginal rate in 23 years, eliminating even the fallacious "we did well enough with higher taxes under Clinton" argument.
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POPSA Quiet Windfall for US Banks "It was a shock to most of the tax law community. It was one of those things where it pops up on your screen and your jaw drops," said Candace A. Ridgway, a partner at Jones Day, a law firm that represents banks that could benefit from the notice. "I've been in tax law for 20 years, and I've never seen anything like this."
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POPSTreasury Changes Tax Code - Banks get Windfall More: "Section 382 of the tax code was created by Congress in 1986 to end what it considered an abuse of the tax system: companies sheltering their profits from taxation by acquiring shell companies whose only real value was the losses on their books. The firms would then use the acquired company's losses to offset their gains and avoid paying taxes. Lawmakers decried the tax shelters as a scam and created a formula to strictly limit the use of those purchased losses for tax purposes. But from the beginning, some conservative economists and Republican administration officials criticized the new law as unwieldy and unnecessary meddling by the government in the business world."
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POPSLeft Step Henceforth, elections are fought over which party is proposing the shiniest government bauble: If you think President-elect Obama's promise of federally subsidized day care was a relatively peripheral part of his platform, in Canada in the election before last it was the dominant issue. Yet America may be approaching its tipping point even more directly. In political terms, the message of the gazillion-dollar bipartisan bailout was a simple one: “Individual responsibility” and “self-reliance” are for chumps. If Goldman Sachs and AIG and Bear Stearns are getting government checks to “stay in their homes” (and boardrooms, and luxury corporate retreats), why shouldn't Peggy Joseph?
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POPSAdding Up Obama + Pelosi + Reid + Frank Self-serving rubbish. McCain is who he always was. Generally speaking, he sees government as a Rooseveltian counterweight (Teddy with a touch of Franklin) to the various malefactors of wealth and power. He wants government to tackle large looming liabilities such as Social Security and Medicare. He wants to free up health insurance by beginning to sever its debilitating connection to employment — a ruinous accident of history (arising from World War II wage and price controls) that increases the terror of job loss, inhibits labor mobility and saddles American industry with costs that are driving it (see: Detroit) into insolvency. And he supports lower corporate and marginal tax rates to encourage entrepreneurship and job creation. An eclectic, moderate, generally centrist agenda in a guy almost congenitally given to bipartisanship.
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POPSObamanomics and Business Costs We’re about to enter a secular bear market as a result of abnormalities in the credit markets, and that is bad news as it is; the Obama Effect is going to be a devasting killing blow to business over the next five to ten years.
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POPSChristian Right Influence on USA Politics It all started when Ronald Reagan courted the religious right in his bid to win the Presidency. Now it's come to Christian leaders who use millions in tax-free donations to try to influence nominations for the Supreme Court and to subvert the First Amendment separation of church and State. It's a mutual back scratching society.
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POPSSpreading the wealth? US already does it the gap between rich and poor Americans has grown markedly in recent years as middle-class wages remained largely stagnant while corporate profits and high-earners' salaries soared. McCain, like President Bush, wants to "give more and more to those with the most, and hope prosperity trickles down to everyone else." The RNC is counting on us being ignorant enough to vote against our own interests, and why shouldn't they? It's been working for a long time.
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POPSA good idea indeed I think in today's tax system not taxing all labor earnings and capital is good because to tax things such as employer- provided health care would seem very unfair to the middle class who struggle to have the health care in the first place.
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POPSDefense contractors on the offense We all know one basic thing " you get nothing for nothing". But it takes an army of lawyers to prove it. If these defense contractors have that much money to give away they're not paying enough in taxes.
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POPS"Joe The Plumber" Meets "Senator Government" Pittsburgh Tribune-Review: “ he One-Third Of All American Working Families Who Pay No Income Taxes Now Will Receive A Government Check Under The Obama Plan. And That Number Could Rise To About 44 Percent Under Obama’s Proposal.” The Wall Street Journal Calls Obama’s Numerous Refundable Tax Credits “Tens Of Billions Of Dollars In Government Handouts.” New York Post: “ bama’s ‘Tax Cuts’ Really Amount To A Sizable Expansion Of Welfare.” Barack Obama Has Called For Higher Income Taxes, Social Security Taxes, Capital Gains And Dividend Taxes, And Corporate Taxes, As Well As “Massive New Domestic Spending.” . . . s that what most Americans want, someone who will fulfill a Democratic policy wish list?” U.S. News & World Report’s “Capital Commerce” Blog: http://www.usnews.com/blogs/capital-commerce/2008/02/13/barack-hussein-reagan-ronald-wilson-obama.html
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POPSATR 401 k Calculator go to atr.org to see what happens to your 401k under the different tax plans from Obama, McCain Stark differences. Forget the only taxing those making more than 250K. Look what Obama will do to your 401K regardless of what your income is.
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POPSIllinois, The State That Lags Economically
As a resident of Illinois, I have seen first hand what the effects of Obama's "change" have been. In 2003, Obama voted to raise the state corporate income tax by $59 million for industries that use heavy machinery. The tax hit consumers of oil, coal, other natural resources Voted for a property tax hike to increase patronage employees' pay. The bill, costing taxpayers $31 million per year, was vetoed only to be overridden by the senate and house. In 2004, Obama voted for yet another state income-tax increase that hit Illinois businesses for an additional $29 million per year. In addition, Obama also voted for increased real estate sales taxes and a computer software sales tax hike that cost Illinois consumers and home buyers a combined $95 Million. Obama also supported a 33% increase in licensing fees on Illinois Residents. In a single massive bill in 2004, Obama voted to increase over 300 TAXES AND FEES Assessed on professionals and businesses operating under state license
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POPSIs This Why The Sales Of FairTax Book Has Spiked? There is absolutely no doubt that enactment of the FairTax would be the greatest boost to the American economy in our lifetimes. As I've said, the problem here is that (1) The FairTax act was introduced by a Republican; and, (2) it would constitute the most massive transfer of power from the government back to the people in the history of our Republic. The thinking in Washington is that our economic problems can only be solved through the enhancement of government power.
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POPSNow Is the Time to Resist Wall Street's Shock Doctrine
(cont.)In the midst of this economic crisis, he is actually demanding the repeal of the Sarbanes-Oxley Act, which would lead to further deregulation of the financial industry. Gingrich is also calling for reforming the education system to allow "competition" (a.k.a. vouchers), strengthening border enforcement, cutting corporate taxes and his signature move: allowing offshore drilling. It would be a grave mistake to underestimate the right's ability to use this crisis -- created by deregulation and privatization -- to demand more of the same. Don't forget that Newt Gingrich's 527 organization, American Solutions for Winning the Future, is still riding the wave of success from its offshore drilling campaign, "Drill Here, Drill Now!" Just four months ago, offshore drilling was not even on the political radar and now the U.S. House of Representatives has passed supportive legislation. Gingrich is holding an event this Saturday, September 27 that will be broadcast on satellite television
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POPSPelosi Delivers Americans Her Poison Bill This is the only plan that would allow the American taxpayers to receive the full $2.6 trillion in lease payments, royalties and corporate taxes that some estimate will be generated from full exploration of the OCS. But the all-of-the-above plan does not end there. It also opens up the 10.3 billion barrels of oil estimated to be in the Arctic National Wildlife Refuge. A 2007 study by the University of California estimated that leases and royalties from ANWR would generate $251 billion in government and state revenue — and that was assuming a barrel of oil cost $53. Oil opens at $102 a barrel today. Alternative energy is not ignored either. The Republican plan also attempts to improve energy conservation with tax credits for businesses and families who purchase more fuel-efficient vehicles. Barriers to the revival of the nuclear power industry are removed, and the tax credits for renewable energy (including but not limited to wind, solar and hydrogen) are part of the plan.
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POPSMystery: How Wealth Creates Poverty in the World (cont.)The U.S. government has subsidized this flight of capital by granting corporations tax concessions on their overseas investments, and even paying some of their relocation expenses---much to the outrage of labor unions here at home who see their jobs evaporating. The transnationals push out local businesses in the Third World and preempt their markets. American agribusiness cartels, heavily subsidized by U.S. taxpayers, dump surplus products in other countries at below cost and undersell local farmers. As Christopher Cook describes it in his Diet for a Dead Planet, they expropriate the best land in these countries for cash-crop exports, usually monoculture crops requiring large amounts of pesticides, leaving less and less acreage for the hundreds of varieties of organically grown foods that feed the local populations. By displacing local populations from their lands and robbing them of their self-sufficiency, corporations create overcrowded labor markets of desperate people
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POPSRussian Poll: 84% Say Truth About 9/11 Being Deliberately Hidden Seems everyone can see whats going on but us.. In exchange for NOT paying taxes are paying a reduced amount the corporate media makes sure we're in the dark as to whats really going on here in the states.. We are being propagandized and don't even know it! We aren't supposed to be burdened with these taxes they are! View this as proof - words of the former IRS tax commissioner. http://www.youtube.com/watch?v=nX-03Sf1wDo
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