Category Archive 'Taxes'
18 May 2018

“Will These Bastards Ever Stop? Is There Anything They Won’t Tax?”

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05 Jan 2018

2017 American Migration Map

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North American Moving Services 2017 American Migration Map.

Gosh, is there anything states shown in red losing the most population have in common, and anything the states shown in blue gaining the most population have in common?

Via: Seattle Sam.

13 Nov 2017

Taxes vs. Manliness

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Severian argues that a high tax regime isn’t just about the money.

Taxes have an effect, and it isn’t an accidental side-effect, it’s an ulterior but central purpose: To weaken and distort the messages that bind civilization together, that keep it functioning.

Civilization is made up of very few of these messages: “It is wrong to kill or hurt other people”; “If someone has something you want, you need to acquire consent from them before you take it and that usually means paying for it”; “If you help me get things done I want to get done, I will give you this money.” Liberals and democrats want taxes higher, higher, higher, all the time and they don’t have a set amount in mind, nor do they want to pay for “police, fire departments and park benches”; they just want the taxes to be high, so they can attack that 3rd message that keeps civilization working and functional. Ideally, for them, the tax rate would be 100% and we’d all be fed & sheltered by living on the dole. Then, dependency on the state would also be 100%. Then they’d reach the “fun part” — they tell the rest of us what to do, and we go do it. …

Yes, taxes are required to keep civilization working.

Higher taxes bring civilization to a stop. They’re supposed to do this. They remove the ability, as well as the incentive, for children to grow into strong, complete, capable adults. They’re supposed to do that, too. Minimal taxes are a lubricant. Higher taxes are a solvent.

Remember this next time you hear someone monologue away about the evils of a tax cut.

RTWT

11 Nov 2017

Tax Cut

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03 Oct 2016

Trump Tax Brouhaha

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hillarytaxreturn
Detail from Hillary’s 2015 Tax Return: “Capital Loss Carryover: -699,540.”

Allan Sloan, at the Washington Post, inveighs against the shocking revelation(!) that the tax code actually allows business losses to be deducted from business income. The horror! The horror!

Despite what Donald Trump says, we really can learn a lot from his tax returns — even from the partial ones made public by The New York Times.

The major takeaway from the three pages of Trump’s 1995 returns that the Times made public is that Trump is right when he says the system is rigged. What he doesn’t say is that it’s rigged in his favor and in the favor of people like him — and against regular people, those of us who earn money, pay income tax on it, and financially support the country in which we live.

This is obviously balderdash. Regular people often have businesses, and carry forward and deduct business losses, too, just like Donald Trump, and just like Hillary Clinton it turns out.

Tyler Durden notes that there are no major party candidates this year who have not been deducting carried-forward capital losses.

29 Sep 2015

Trump’s Tax Plan

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TrumpTaxPlan

Donald Trump was sinking slowly in the polls and a number of pundits were predicting his candidacy was in terminal decline, but The Donald yesterday stopped whining about Fox News and actually produced a substantive policy proposal: a dramatic revision of the tax code.

Tax Prof Blog

Trump’s plan is simple, but it would certainly be a revolutionary change, eliminating scads of special interest deductions, freeing less well-off Americans entirely from federal taxation (except for Social Security), and giving US businesses a major shot-in-the-arm by making our business tax much more competitive. Trump’s plan is simple, but it is intelligent and possesses enormous potential voter appeal. In one fell swoop, Donald Trump has revived his candidacy and made himself again the man to beat.

28 Oct 2013

Big Brother on Your Dashboard

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The LA Times reports on an unlikely alliance between statist tax grabbers and some libertarians(!) to arrange for Big Brother to accompany you every mile you drive.

As America’s road planners struggle to find the cash to mend a crumbling highway system, many are beginning to see a solution in a little black box that fits neatly by the dashboard of your car.

The devices, which track every mile a motorist drives and transmit that information to bureaucrats, are at the center of a controversial attempt in Washington and state planning offices to overhaul the outdated system for funding America’s major roads.

The usually dull arena of highway planning has suddenly spawned intense debate and colorful alliances. Libertarians have joined environmental groups in lobbying to allow government to use the little boxes to keep track of the miles you drive, and possibly where you drive them — then use the information to draw up a tax bill.

The tea party is aghast. The American Civil Liberties Union is deeply concerned, too, raising a variety of privacy issues.

And while Congress can’t agree on whether to proceed, several states are not waiting. They are exploring how, over the next decade, they can move to a system in which drivers pay per mile of road they roll over. Thousands of motorists have already taken the black boxes, some of which have GPS monitoring, for a test drive.

“This really is a must for our nation. It is not a matter of something we might choose to do,” said Hasan Ikhrata, executive director of the Southern California Assn. of Governments, which is planning for the state to start tracking miles driven by every California motorist by 2025. “There is going to be a change in how we pay these taxes. The technology is there to do it.”

The push comes as the country’s Highway Trust Fund, financed with taxes Americans pay at the gas pump, is broke. Americans don’t buy as much gas as they used to. Cars get many more miles to the gallon. The federal tax itself, 18.4 cents per gallon, hasn’t gone up in 20 years. Politicians are loath to raise the tax even one penny when gas prices are high.

“The gas tax is just not sustainable,” said Lee Munnich, a transportation policy expert at the University of Minnesota. His state recently put tracking devices on 500 cars to test out a pay-by-mile system. “This works out as the most logical alternative over the long term,” he said.

Wonks call it a mileage-based user fee. It is no surprise that the idea appeals to urban liberals, as the taxes could be rigged to change driving patterns in ways that could help reduce congestion and greenhouse gases, for example. California planners are looking to the system as they devise strategies to meet the goals laid out in the state’s ambitious global warming laws. But Rep. Bill Shuster (R-Pa.), chairman of the House Transportation Committee, has said he, too, sees it as the most viable long-term alternative. The free marketeers at the Reason Foundation are also fond of having drivers pay per mile.

“This is not just a tax going into a black hole,” said Adrian Moore, vice president of policy at Reason. “People are paying more directly into what they are getting.”

The movement is also bolstered by two former U.S. Transportation secretaries, who in a 2011 report urged Congress to move in the pay-per-mile direction.

The U.S. Senate approved a $90-million pilot project last year that would have involved about 10,000 cars. But the House leadership killed the proposal, acting on concerns of rural lawmakers representing constituents whose daily lives often involve logging lots of miles to get to work or into town.

Several states and cities are nonetheless moving ahead on their own. The most eager is Oregon, which is enlisting 5,000 drivers in the country’s biggest experiment. Those drivers will soon pay the mileage fees instead of gas taxes to the state. Nevada has already completed a pilot. New York City is looking into one. Illinois is trying it on a limited basis with trucks. And the I-95 Coalition, which includes 17 state transportation departments along the Eastern Seaboard (including Maryland, Pennsylvania, Virginia and Florida), is studying how they could go about implementing the change.

The concept is not a universal hit.

In Nevada, where about 50 volunteers’ cars were equipped with the devices not long ago, drivers were uneasy about the government being able to monitor their every move.

“Concerns about Big Brother and those sorts of things were a major problem,” said Alauddin Khan, who directs strategic and performance management at the Nevada Department of Transportation. “It was not something people wanted.”

As the trial got underway, the ACLU of Nevada warned on its website: “It would be fairly easy to turn these devices into full-fledged tracking devices…. There is no need to build an enormous, unwieldy technological infrastructure that will inevitably be expanded to keep records of individuals’ everyday comings and goings.”

Read the whole thing.

04 May 2013

Mapping the Impact of Taxes

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16 Apr 2013

Where Did Your Tax Dollar Go?

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05 Jan 2013

“The Taxing Thing”

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Hurstbourne Tarrant (or Uphusband),
Monday, 7th November 1825.

We came through a village called Woodcote, and another called Binley. I never saw any inhabited places more recluse than these. Yet into these the all-searching eye of the taxing Thing reaches. Its Exciseman can tell it what is doing even in the little odd corner of Binley; for even there I saw, over the door of a place, not half so good as the place in which my fowls roost, “Licensed to deal in tea and tobacco.” Poor, half-starved wretches of Binley! The hand of taxation, the collection for the sinecures and pensions, must fix its nails even in them, who really appeared too miserable to be called by the name of people. Yet there was one whom the taxing Thing had licensed (good God! licensed!) to serve out cat-lap to these wretched creatures!

— William Cobbett, Rural Rides (1830).

03 Aug 2012

US Taxing Olympic Victories

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Ryan Lochte displays his gold medal.

The Weekly Standard reports that American athletes winning medals at the London Olympics will owe the US Government money.

Americans who win bronze will pay a $2 tax on the medal itself. But the bronze comes with a modest prize—$10,000 as an honorarium for devoting your entire life to being the third best athlete on the planet in your chosen discipline. And the IRS will take $3,500 of that, thank you very much.

There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze.

Silver medalists will owe $5,385. You win a gold? Timothy Geithner will be standing there with his hand out for $8,986. …

[M]ost other Olympians won’t pay any taxes on their medals because America is one of only a handful of countries which taxes “worldwide” prize income earned overseas.

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The Politico reports that at least on Republican wants to give American athletes a break.

[Senator Marco] Rubio (R-Fla.) introduced [on Wednesday] The Olympic Tax Elimination Act, which would exempt U.S. Olympic medal winners from paying taxes on their medals. Olympians receive honorariums in the form of cash payments of $25,000 for gold, $15,000 for silver and $10,000 for bronze, which the IRS currently taxes.

“Our tax code is a complicated and burdensome mess that too often punishes success, and the tax imposed on Olympic medal winners is a classic example of this madness,” Rubio said in a statement. “Athletes representing our nation overseas in the Olympics shouldn’t have to worry about an extra tax bill waiting for them back home.”

22 Feb 2012

The Obama Tax Plan

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James Pethokoukis observes that Americans would have limited grounds for rejoicing: (his Tweet) “We go from having the 2nd highest corp. rate to 4th. That’s it? Thank goodness for Belgium!”

The current U.S. economic recovery is arguably the worst in modern American history. Incomes are flat, housing is moribund, and the past three years have seen the longest stretch of high unemployment in this country since the Great Depression. Yet President Barack Obama—with the backing of Treasury Secretary Timothy Geithner—has the temerity to propose a corporate tax reform plan that would actually raise the tax burden on American business (and de facto on workers, too) without lowering rates to an internationally competitive level. This is a terrible, terrible plan:

..The Obama-Geithner plan would lower the statutory corporate tax rate to 28 percent from 35 percent, currently the second-highest among advanced economies. But that would still leave the combined U.S. corporate tax rate—state and federal—at 32.2 percent, far above the OECD combined average of 25 percent. The U.S. combined rate would be a bit below slow-growing Japan and France but above the U.K. and Germany. That’s not nearly good enough. Canada just lowered its corporate tax rate, for instance, to 15 percent. So instead of having the second highest corporate tax rate in the world, the United States would probably be fourth behind Japan, France, and Belgium.

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