Posted by taxguru on January 15, 2013
Louisiana isn’t the only GOP controlled State considering replacing income taxes with increased sales (consumption) taxes.
Nebraska governor is latest to propose ending state income tax
U.S. states flirt with major tax changes
New pay-per-mile scheme would boost taxes 250 percent – Another plan to compensate for the consequences of more fuel efficient vehicles.
Posted in StateTaxes, TaxNews | Comments Off
Posted by taxguru on December 20, 2012
Will people be held prisoner inside high-tax states if they can’t or won’t pay the Exit Fees? Desperate money hungry State rulers may just stoop this low.
When Will Death Spiral States Impose Taxes On Fleeing Citizens?
New tax increases in California stir debate about adding to exodus
From Rush Limbaugh, who was a tax refugee from New York to Florida 15 years ago, but still has to undergo audits from the New York Tax goons every year to prove that he didn’t work inside the State borders.
Death-Spiral States Eye Exit Taxes
Posted in Calif, StateTaxes | Comments Off
Posted by taxguru on August 3, 2012
Facebook Stock Crash Hoses California’s Tax Revenue – In the Bizarro world of government, they love to “balance” their budgets with completely unrealistic overly optimistic assumptions about the size of revenues. That’s how the Clinton gang conjured up an imaginary budget surplus for his last year. They assumed the stock market would continue to grow at 20% per year, when in actuality, it crashed.
Governor Moonbeam has already said that his “balanced” budget is contingent on the assumption that voters will approve two large tax increases in November. Has a betting pool been set up to predict when the PRC declares bankruptcy?
Republicans grill IRS commissioner on health care – The fun and games with ObamaCare are just beginning. If it’s not repealed, those of us in the tax profession will have to become ensnared in its thousands of pages of rules and regulations, even though none of us had any desire to go to medical school.
Posted in ObamaCare, StateTaxes | Comments Off
Posted by taxguru on July 25, 2012
With a number of California cities already filing bankruptcy, there will be a chain reaction all over the country of more and more of them doing that. It is bound to happen at even faster pace, as governments are now required to be more honest in their disclosures of their unfunded pension liabilities, as Rush Limbaugh described in yesterday’s Morning Update (Text Video).
Besides a growing number of cities and counties filing for bankruptcy protection in order to get out from union pension obligations, I would bet money on the State of California having to do the same thing. By his own admission, Governor Moonbeam’s latest budget is based on the passage of two tax increases on the November ballot and the assumption that the targets of those tax hikes will just stick around, bend over and pay those higher taxes. That erroneous assumption and his idiotic plan for a multi-billion dollar bullet train boondoggle can have no other result than complete financial collapse for the State. Brown’s scenario isn’t that different from 0Bambi’s; except that the Federal government can print money and borrow from the ChiComs, which State governments can’t do.
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Posted by taxguru on June 1, 2012
Escape From New York? High-Taxing Empire State Loses 3.4 Million Residents in 10 Years – I love stories like this. The rulers of NY are just as brain dead and shortsighted as their counterparts in the PRC. They have no understanding of the concept of Cause and Effect. They believe they can continuously stick it to the “evil rich” and those folks will just bend over and accept being fiscally raped forever.
America Lost 129,000 Millionaires in 2011 – Just as a healthy rising economy lifts all boats, a Marxist sabotaged one sinks all ships.
Posted in SoakTheRich, StateTaxes | Comments Off
Posted by taxguru on May 28, 2012
‘Fat Tax’ Could Curb Nation’s Obesity Problem – Dems love to use tax policy to micromanage every aspect of our lives. As with all of their schemes of this type, the results will end up making the situation much worse.
Some states asking the tax man to get tougher – The more desperate States get for money, the more aggressive they will be in trying to squeeze as much as possible from as many people as possible. Under the DemonRat philosophy, governments must never be expected to spend less; but the little people in the real world will have to make do with less in order to make their financial sacrifices to the gods of Big Government.
Posted in SinTaxes, StateTaxes, TaxHikes | Comments Off
Posted by taxguru on April 29, 2012
How Apple Sidesteps Billions in Taxes – Of course, the NY Slimes thinks this is a bad thing when anyone uses proactive techniques to avoid being fiscally raped by the tax collectors. I’ve been helping clients shift income out of high tax states such as the PRC and into tax free states, such as Nevada, Washington and Texas, for decades; so this is nothing new. Actually, it’s a tool in the tax planning arsenal that not enough businesses consider. Rather than be bitter about what Apple is doing to reduce its tax burden, more business owners should be following its example.
Rush nails this liberal hypocrisy.
Time Magazine chimes in: Apple’s Tax Avoidance: Evil Scheming, Good Business, or Both?
PJTV dissects this NY Slimes attack on Apple:
Posted in StateTaxes, TaxPlanning | Comments Off
Posted by taxguru on March 25, 2012
Professional Athletes’ Big-League Tax Bills – For those who think preparing one state tax return is hassle enough, how about having to prepare dozens each year in order to allocate income for the year? Most of the returns I prepare have two or three states based on rental properties, farms, and out of state jobs; but none have as many as the professional athletes mentioned in this article.
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Posted by taxguru on February 1, 2012
Oklahoma Leads on Income-Tax Repeal
Let’s hope this is the start of a trend; with pro-growth forward thinking States realizing that lower taxes encourage business activity, while the short sighted suicidal States (California, et al), continue to raise their taxes and drive productive citizens away.
Posted in StateTaxes | Comments Off
Posted by taxguru on January 3, 2012
As if it weren’t bad enough that the idiots who run the PRC already punish high income people with extra income taxes, they are trying to add even more. This article from the WSJ describes the new Marxist group, Courage Campaign, that is pushing for such higher income taxes that they will in essence kill their golden geese when more of the evil rich reach their breaking point and relocate to lower tax states.
Here is the Marxist video that the article discusses:
More discussion from Fox Business about this push in the PRC to confiscate more from the evil rich.
Here’s a funny Chinese animation of the attempt to soak the evil rich in the PRC:
From Jay Leno, via NewsMax:
A group calling itself the Courage Campaign is trying to win support for a millionaire tax by running an ad showing Kim Kardashian. They want the Kardashians to pay more. This is part of the plan to raise taxes on the dumbest 1 percent.
Posted in Commies, StateTaxes | Comments Off