Via Taxprof blogWall Street Journal: Tax Twist: At Some Firms, Cutting Corporate Rates May Cost Billions: What Uncle Sam has given to the earnings of companies like Citigroup, AIG, and Ford he soon might take away. President Barack Obama has said, most recently during last month’s presidential debates, that the 35% U.S. corporate tax rate […]
I want to draw AB readers’ attention to two of the most important op-ed pieces I’ve read in a while. They address entirely different, but profoundly important, matters. One is Elizabeth Warren’s piece today in Politico, called Stop riggingsystem against small business. The other is Bill Keller’s column today in the New York Times, called […]
by Linda Beale U.S. Chamber and corporations fighting for low preferential capital gains rates A coalition of the U.S. Chamber of Commerce and large multinational corporations such as Altria Group Inc. and Excel Energy Inc. is trying to pressure Congress to retain the extraordinarily low current tax rates on unearned income that will expire at […]
by Linda Beale CRS reports on repatriation tax holiday impact Shortly before the Christmas holiday, CRS released a report by Donald Marples and Jane Gravelle on the possibility of a second repatriation tax holiday for multinational corporations. Download Marples and Gravelle. tax cuts on repatriation earnings as economic stimulus. an economic analysis. 122011.c The holiday […]
Romney’s Wall St. J. Interview with Gigot–Protecting the Rich [edited to rephrase and correct typos 12/26/11 5 pm] Joseph Rago and Paul Gigot interviewed Mitt Romney on his ‘vision’ for America–“On Taxes, ‘Modeling’, and the Vision Thing”, Wall St. J. Dec. 23-24, 2011, at A13. In it, Romney reveals the way patrician wealth has affected his […]
The Corporations That Occupy Congress by David Cay Johnston via taxprofblog and Reuters Some of the biggest companies in the United States have been firing workers and in some cases lobbying for rules that depress wages at the very time that jobs are needed, pay is low, and the federal budget suffers from a lack […]
by Linda Beale Nader Argues for a Financial Transactions Tax Ralph Nader provided an op-ed on the question of a financial transaction tax, “Time for a Tax on Speculation,” Wall St. Journal, A17 (Nov. 2, 2011). He ties the need for the tax as a curb to speculation to the growing concern among ordinary Americans […]
Yesterday in the New York Times Greg Mankiw — a professor of economics at Harvard, an advisor to the governor of Massachusetts, in the campaign for the Republican presidential nomination and a former Chairman of the Council of Economic Advisers under president Bush — had a column in which he argued that a cut in […]
by Tom aka Rusty Rustbelt A Modest Tax Proposal The GOP is all breathless about deficits, but this is the same GOP of Dubya Bush that fought a war in Iraq (unnecessary) and Afghanistan (overextended) funded entirely by debt. So, the following proposal. A 3% surtax on taxable incomes over $75,000 until the cost of […]
I found this little reminder of who is sharing to fix the deficits: Tax policy center