Taxation
As Congress successfully fends off attempts to reduce the considerable pork in an omnibus spending bill, President Obama has indicated that he will not veto the bill. Defending an apparent flip-flop on a campaign promise, The White House says this bill is just last year’s unfinished business — and next time, it will be different.…
Apparently we are all well aware that the rich can afford to pay more taxes–“their fair share.” But can the poor afford it? The administration’s recently released budget will limit tax deductions on gifts made to charities by those earning over $250,000 a year, raising (we are told) almost $180 billion over the next ten…
President Obama is going to go after international tax dodgers (h/t): President Barack Obama’s Treasury secretary says the administration will unveil a series of rules and measures in the coming months to limit the ability of international companies to avoid U.S. taxes. Treasury Secretary Timothy Geithner told the House Ways and Means Committee on Tuesday…
Things are going to get even a leetle more interesting in our sleepy corner of the state: Danielle Coulter, a chiropractor and Tiverton School Committee member just elected to office last November, has filed a lawsuit against the Tiverton’s tax assessor. She claims that last year’s property tax levy in excess of the tax cap…
From ABC News: President Obama’s budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals. 1) On people making more than $250,000. $338 billion – Bush tax cuts expire $179 billlion – eliminate itemized deduction $118 billion –…
Those seeking some reason for optimism may find it (in small measure) in Neil Downing’s language: More than 400,000 Rhode Island workers will soon receive what amounts to a pay raise. Employers by April 1 must begin withholding less federal income tax from paychecks. Thus, workers will soon be taking home more than they are…
Gary Smith, of Newport, has come to a conclusion that will be familiar to Anchor Rising readers: So I asked myself: What is keeping companies away, especially those for whom shipping is not an issue? The answer is and has long been obvious — taxes. CEOs won’t relocate to places where their high incomes get…
Can’t find any web reports but I heard a news report that the House has just passed the non-economic stimulus bill and the Senate was expected to act on it later today. Do you support or oppose this bill? Let your voice be heard. Senatorial contact information below. Senator Jack Reed: (202)224-4642. Website. Senator Sheldon…
This is an instructive episode: A House vote to raise the state’s cigarette tax by $1 a pack — to what would be the highest level in the nation — was aborted at the last minute yesterday after Republican Governor Carcieri yanked his support from his own tax-raising proposal. Carcieri’s eleventh-hour move was announced by…
The extra financial burden of smoking to the health care system and, more specifically, the state has been put forward as one of the justifications for the proposed one dollar increase to the state cigarette tax being contemplated by the General Assembly even as we speak. It was interesting and a little nauseating to read…