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Archive for the ‘TaxNews’ Category

Posted by taxguru on March 12, 2013

Tax bills for rich families approach 30-year high – And it’s still not enough for the DemonRats.

 

Record Tax Revenue Not Enough for Dems –  It can never be enough.

 

CBO: Federal Revenue to Set Record in 2013 – But still not even close to covering the wild out of control spending by our rulers.  In fact, there is no amount of tax revenue that could ever cover it.

 

Paulson Said to Explore Puerto Rico as Home With Low Tax –  High taxes do motivate behavior.

 

Government Advertises for Nearly 2,600 New Jobs Since Sequestration – The growth of Big Brother government continues unabated.

 

Dozens of WH senior staffers making six-figure salaries amid sequester woes –  Only those of us living on Planet Earth have to cut back when money is tight.  These basic rules of economics don’t apply to the Planet DC.

 

Another Tax-the-Rich Plan Introduced in Congress –  The short-sighted DemonRats have no fear of killing the Golden Goose.

 

The Fed Pumps Up Obama’s Market –  The artificial bubble has to burst eventually.

 

40 Obama White House aides owe the IRS $333,000 in back taxes –  Normal laws don’t apply to those in power.

 

IRS: How should we treat the new health insurer “fee”? –  The tentacles of ObamaCare continue to grow, including allowing IRS to regulate health insurance coverage.

 

Cost of Entitlements: To cover $35T promise, future generations face steep tax hikes –  Our reckless rulers continue to spend all current and future money now.  In the real world on Planet Earth, such behavior would result in prison time, not royalty as occurs on Planet DC.

 

Sequester won’t interrupt collection of taxes from ‘ObamaCare’ –  Nothing stops the Tax Collector.

 

Ex-Lawyer Donna Guerin Pleads Guilty in Tax-Shelter Case – Some people do cross the legal line when it comes to tax saving strategies.

 

 

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Posted by taxguru on March 9, 2013

Number of Tax-Delinquent Government Workers Up 11.5% – Another example of how those who used to be “Public Servants” have become our masters, a privileged elite protected class.

 

Kansas Governor Pushing to Eliminate State Income Tax (Video) –  Another option to the high tax states.

 

Tax Bite Leaves Flacco Second Best Paid in NFL – Moving to a tax free state would allow him to hold onto more of his earnings.

 

L.A. Balks At Tax Hike; Now About Those Pensions – Although it was just a half cent sales tax, it’s good to see the voters finally say no to a tax. However, as with almost all levels of government, the public pensions are continuing to push the city towards bankruptcy.

 

Queen Nancy continues to give Joe “Bite-Me” Biden a run for his money as to who is the stupidest high ranking DemonRat.  However, neither one is as smart as an ashtray.

Nancy Pelosi demands $10.10 per hour minimum wage 

Pelosi: ‘Tax Cuts Are Spending’ – Because all money belongs to government.

 

Dems Struggle to Live Up to Sequesteria

 

 

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Posted by taxguru on March 7, 2013

From the email Thought of the Day on March 5:

“Higher taxes never reduce the deficit. Governments spend whatever they take in and then whatever they can get away with.” – Milton Friedman

 

From Argus Hamilton:

 Hugo Chavez was lionized by the left Tuesday although his country is suffering from unemployment, high taxes, and fleeing industries. His Hollywood admirers enjoy one major consolation. Hugo Chavez’s legacy will forever live on in the California state tax code.

Baltimore Ravens quarterback Joe Flacco signed a huge deal that added a thirty million dollar signing bonus Monday. Negotiations stalled for months and now he has to pay the higher tax rate on the rich. During the press conference he thanked his agent, Nancy Pelosi.

 

Government-by-fake-disaster-movie –  Hilarious review of the idiotic and insane Federal budget scams by Mark Steyn.

 

 

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Posted by taxguru on March 1, 2013

Broke U.S. Government Eying Your Retirement Savings

 

Paris seeks alternative to 75% tax –  I doubt that dropping the top rate to 66% will be enough of an incentive for tax refugees to return.

 

 

’70s Flashback: Democrats Tried Same Scare Tactics on Prop. 13 in California –  I can still remember all of the end of the world hysteria in 1978 over Prop 13. 

 

Maxine Waters: Sequester Could Cause ‘170 Million Jobs’ to Be Lost –  Another example of the wizards leading the DemonRat Party in DC.  They have many more than the normal quota of mentally handicapped persons in power.

 

Americans see biggest monthly income drop in 20 years –  Continued success by the DemonRat Regime to reduce privately held wealth. 

 

It’s official: Gas tax going up –  Taxes in the PRC continue to climb.

 

Cigarette tax jumps up $1 a pack in Chicago –  Money addicted politicians can’t go wrong by exploiting the addiction of nicotine fiends.  How long will it be before the volume of smuggled cigarettes rises? 

IRS Furloughs to Begin After Tax Season –  Too soon to know if this is good news or bad. 


Obama’s Sequester Math: $300 Billion In New Revenues Called ‘Spending Cuts’ –  DC math has long been from another planet than the one we live on.

 

Democrats complain about presence of debt clock on Capitol Hill –  They don’t want any reminders of the fact that they are continuing on a reckless spending spree with money that we don’t have.  Out of sight, out of mind.

 

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Posted by taxguru on February 26, 2013

Ugly Tone Emerges in Drive by Obama for Tax Hikes on Rich –  We should expect nothing less from someone who has grown up his entire life so indoctrinated by Marxists.

 

Liberals Want the Government to Help You “Manage” Your 401(k) –  Another trial balloon of a long-running plan by the Dims to either hit all privately held retirement accounts with huge taxes or confiscate them and substitute the equivalent in additional Social Security benefits.  The purpose of having private retirement accounts is to not be dependent on Social Security, and this riles Dims, who want everyone completely dependent on them for everything.  This is another reason to invest retirement accounts in tangible assets, such as real estate.  Those will be more difficult for government vultures to steal than cash and stocks.

 

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Posted by taxguru on February 22, 2013

Audience Cheers and Applauds When Leno Says Obama ‘Doesn’t Understand Economics –  The official media spin is that the Regime is just incompetent and accidentally screwing up the economy.  The truth is that they are intentionally doing everything possible to destroy the economy and create such a huge depression that only a bigger and more powerful centralized government can “fix” things.

 

New Tax Codes Causing Delays In Filing 2012 Returns –  We all knew this was destined to be a very messy Tax Season.

 

Companies are dropping health coverage for spouses to cut costs –  Another obvious outcome from ObamaCare.

 

House Democrats propose a $10 billion transportation package that would gradually raise the gasoline tax to 47.5 cents a gallon within five years –  It’s not enough to just force the price of gas up by limiting supply, the Dims need to add more taxes.  It won’t be long before 0baMao realizes his stated goal of $9.00 per gallon gasoline. 

  

Firms Puzzle Over Tax Riddle –  Choosing the most appropriate business entity is still very confusing for just about everyone and should never be attempted without assistance from a professional tax advisor.  (Thanks to Ohio CPA Dana Stahl for this article)

 

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Posted by taxguru on February 19, 2013

US business hits out at ‘Obamacare’ costs –  Again, anyone with half a brain could see this as a result of the new mandates; fewer full time employees and fewer hours for existing ones. 

 

Changes In Tax Structure Creating Angst Among Low, Middle Class –  As they should.  Keeping your head in the sand and assuming that tax hikes only affect the Evil Rich is naive and irresponsible.

 

Howard Dean to Middle Class: Taxes Go Up or Programs Get Cut –  That has been the plan all along; get everyone hooked on government benefits.  Just like drug pushers.

 

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Posted by taxguru on February 14, 2013

Retail sales growth slows as higher taxes kick in – But according to Mensa reject Queen Nancy Pelosi, all of the unemployment benefits should more than make up for this.

Obama’s agenda is simple — take more of your money – The DemonRat credo.

 

Jack Lew Oversaw Up to 113 Cayman Island Investment Funds – This is only an evil thing when done by a Republican, such as Romney. DemonRats can do anything with impunity and freedom form criticism by the media.

 

Senators turn the tables on Caymans investor Jack Lew – Finally some in the GOP have the guts to point out an example of DemonRat hypocrisy. Of course, the media will ignore it and even assist in its cover-up.

  

People Are Leaving California for Texas in a Big Way

 

Austin seeing interest from California companies ‘double or triple,’ chamber says – The fewer companies staying in the PRC are going to have to carry even more of the burden of that crazy State’s taxes and regulations.

 

City hikes taxes on Sandy-hit houses – Governments are never expected to survive with lower tax revenues.

 

Steny Hoyer: We Don’t Have a “Spending” Problem; We Have a “Paying for” Problem – Perfect example of how little intelligence is required to be elected as a DemonRat.  In fact, the lower the IQ, the higher the Dim rises in the Party.

 

GOP’s Marco Rubio: ‘I hope the President will abandon his obsession with raising taxes’ – It looks like somebody is a bit disconnected from reality if he believes someone as steeped in Marxist and communist theology as 0baMao has been his entire life will ever entertain the idea of lower taxes. 

 

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Posted by taxguru on February 8, 2013

Krugman: Death Panels and Middle-Class Tax Hikes Ahead – A surprise to nobody except the mind-numb morons who believe anything the DemonRats say. 

  

Lithuania to turn Google Street View on tax cheats –  I could see something like this being done here in the USA by tax hungry rulers.

 

Restored Payroll Tax Pinches Those Who Earn the Least – The two percent is a lot of money for some people.

 

CBO Update: Obamacare Will Cost $1.3T, Account for 53% of All Federal Spending — and 7 Million People Will Lose Insurance –  Letting the government take over anything is insane.  Who else could generate huge losses when they have a legal monopoly, as they did with the Post Office?

 

 

“Fairness” and Phil Mickelson – It’s literally stomach turning when Marxists try to explain what a “Fair” tax burden is for those they consider to be evil rich.

 

 

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Posted by taxguru on February 5, 2013

Weirdest Tax Deductions, From TurboTax –  Actually not that strange.

 

Obama administration takes steps to implement individual mandate –  Via our friends at the IRS.

 

Obamacare Allows Government to Take Money from the Uninsured – From Rush

 

Obama Wants More Revenue – No way will he ever consider reducing spending.

 

Obama’s Not Through Raising Taxes: ‘No Doubt We Need Additional Revenue’

 

IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family – So much for the promised reduction in health care premiums.

 

Cure For Big-Spending Obamanomics Is In Texas – If only Texas would secede from the USA and give us an attractive option to O’Bamunism.

 

Obama’s Big Spending Ways Will Mean More Tax Hikes – Another message from Mr. Obvious.

 

Obamacare Fines, Fees and Expenses Explained

 

The Personal Income Tax at 100 – Let’s all celebrate the fiasco that this has grown into.

 

 

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