From THE WALL STREET JOURNAL: Falling Deficit Alters Debate Improving Federal Finances Lessen Pressure on Democrats, Republicans to Negotiate By Damian Paletta Rising government revenue from tax collections and bailout paybacks are shrinking the federal deficit faster than expected, delaying the point when the government will reach the so-called debt ceiling and altering the budget [...]
Archive of posts filed under the Taxation category.
It has been said that . . .
. . . if you give a man a fish, he will be fed for a day, but if you teach a man to fish, he will be fed for a lifetime. Well, maybe not: in Pennsylvania, if you want to fish, whether for sport or because you need to feed your family, there are [...]
This is a good thing!
The United States Chamber of Commerce tweeted: Love tax season? Then you’ll love #Obamacare. @ap: Applying for Benefits Could Be As Daunting As Doing Your Taxes: google.com/hostednews/ap/… — U.S. Chamber (@uschamber) March 12, 2013 And here’s the story: AP Exclusive: Applying for Obama plan not easy By RICARDO ALONSO-ZALDIVAR, Associated Press WASHINGTON (AP) — Applying [...]
Two competing budget proposals
From THE WALL STREET JOURNAL: Opening Budget Bids Set Parties’ Battle Lines By Janet Hook and Kristina Peterson Congress opens a new chapter in the budget debate this week with the introduction of dueling blueprints from two lawmakers who illustrate their parties’ vastly different approaches to the role of government. Sen. Patty Murray (D., Wash.) [...]
Perhaps this isn’t a coincidence
From MSNMoney comes a “Top Ten” list of the American cities, sorted by lowest and highest tax rates. There are more descriptions at the original, but your Editor has compiled the MSN Money figures into one handy chart. What I have noticed is that, though the correlations are not exact, because different cities and states [...]
TAX TIP
My Tax Tip is for those who do your own taxes on the computer using one of the programs such as Turbo Tax or anything similar. Since you are putting loads of personal or personal business information on the computer, I have a 99.9% method of not having your information hacked. What I have been [...]
Economics 101: When you have less money to spend, you will spend less money. Unless, of course, you are the federal government.
It should be remembered: the Editor of THE FIRST STREET JOURNAL wholly supported the end of the Social Security tax “holiday.” From THE WALL STREET JOURNAL: Payroll Tax Whacks Spending Firms Adjust as Resumption of Levy, Expensive Gas, Stagnant Wages Bite Consumers By Shelly Banjo, Annie Gasparro and Julie Jargon Wal-Mart Stores Inc. WMT +1.49% on [...]
Economics 101: The New York Times engages in silver liningism.
Your Editor wrote: The tax increases approved by the voters in November were temporary increases, adding a 0.25% increase to the state sales tax, and creating three new brackets for the most productive Californians, lasting for seven years. For a single Californian earning $500,000 or more, the new 12.3% marginal rate, combined with the new federal top [...]
Yes, Mr President, we do have a spending problem, a huge spending problem, and you are the reason why.
From THE WALL STREET JOURNAL: Obama Escalates Debt Fight President Warns Congress He Won’t Pay ‘Ransom’; GOP Insists on Spending Cuts By Carol E Lee and Janet Hook WASHINGTON—President Barack Obama, facing a battle over raising the U.S. borrowing limit, made clear Monday that he sees no alternative to Congress voting for an increase and [...]
