Taxes

Kansas Governor Sam Brownback (R) Proposes Ending the State’s Home Mortgage Tax Deduction

January 17, 2013

“Under the governor’s plan, the bottom income tax rate would go from 3 percent to 2.5 percent in 2014, and then down to 1.9 percent by 2016.”

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Republican Nebraska Governor Dave Heineman Proposes Abolishing State Income Tax

January 16, 2013

“”Nebraska Governor Dave Heineman on Tuesday became the second Republican governor in the last week to propose ending his state’s income tax, saying he wants to make Nebraska more competitive with its neighbors by eliminating the tax on both individuals and corporations.”

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Goldman Sacks Backs Off Plan to Delay Bonuses for British Employees to Take Advantage of a Lower Tax Rate

January 15, 2013

“The U.S. investment bank had considered postponing some bonuses from 2009, 2010 and 2011 until after April 6, when the UK’s top income tax rate will fall to 45% from 50% for those earning more than $240,000.”

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Analysis: U.S. South and Midwest States Reforming and Cutting Taxes

January 15, 2013

“Louisiana Republican Governor Bobby Jindal, for instance, called on Thursday for ending the state’s income tax and corporate taxes, with sales taxes compensating for lost revenue.”

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Singapore Raises Industrial and Residential Property Taxes to Lower Real Estate Costs

January 14, 2013

“”Coupled with the large supply pipeline of public and private housing over the next few years, we think property prices will very likely stabilise, if not fall, this year.”"

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Lawsuit Alleges United Airlines is Fraudulently Using a Nearly-Vacant Office in Illinois to Evade Fuel Taxes in Chicago

January 14, 2013

“The RTA, which contends the office has no computer and is staffed by one person who only works part time, said consultants visited the site on a recent weekday and found it locked with nobody inside.”

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Greece Passes New Tax Laws, Raising Taxes to Satisfy International Creditors

January 13, 2013

“It brings in a new top tax rate of 42 percent for Greeks earning more than $56,000 a year. The previous top rate was 45 percent for incomes above $132,000.”

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Americans for Tax Reform: ObamaCare Raises Taxes on Dental Braces

January 11, 2013

“As of Jan. 1, the 30-35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs face a new government cap of $2,500. This will squeeze $13 billion of tax money from Americans over the next ten years.”

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Democratic Rep. Ed Markey (MA) Accuses Shell of Moving its Kulluk Drillship to Avoid Taxes

January 11, 2013

“Shell could have been exposed to a state tax if the rig had remained in the state until January 1, as Alaska law says an annual tax of 2 percent can be assessed on drilling equipment on that date, Markey said in the letter sent on Wednesday.”

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Congressional Democrats Seeking an Additional $1 Trillion in Tax Revenue Through Tax Reform in 2013

January 7, 2013

“Republicans say tax reform should be revenue-neutral. Additional revenues collected by eliminating or curbing tax breaks and deductions should be used to lower rates.”

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British Prime Minister David Cameron Calls for “Global Action” to Combat Tax Avoidance and Evasion

January 4, 2013

“He is to use Britain’s presidency of the G8 group of the most industrialized nations, which began this week, to discuss ways of stopping global companies moving their money through different jurisdictions to minimize tax payments.”

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Tax Policy Center: Americans Making $30,000 Annually Hurt More by the Fiscal Cliff Deal than Americans Making $500,000

January 4, 2013

“Earners in the latter group will pay an average 1.3 percent more – or an additional $2,711 – in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent – or up to $1,784.”

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President Obama Signs the Fiscal Cliff Deal Legislation into Law

January 3, 2013

“The bill, which averts a looming fiscal cliff that had threatened to plunge the nation back into recession, also extends expiring jobless benefits, prevents cuts in Medicare reimbursements to doctors and delays for two months billions of dollars in across-the-board spending cuts in defense and domestic programs.”

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U.S. Congress Will Be Forced to Vote to Raise the Debt Ceiling in Late February or Early March

January 2, 2013

“Around the same time, Congress must revisit the spending cuts it simply put off in the deal that passed Tuesday night.”

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Analysis: Details of the U.S. Senate Bill to Avert the Fiscal Cliff

January 1, 2013

“An analysis by the Congressional Budget Office released Tuesday estimated the accord would add $4 trillion to the deficit over a decade.”

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