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Archive for the ‘TaxNews’ Category

Posted by taxguru on January 31, 2013

For millionaire athletes, states with highest tax rates may not make the cut

 

Why the Regime Wants Your W-2 to Tell You Exactly How Much Your Employer is Paying for Your Health Insurance – Rush discusses the growing amount of info reported on W-2s.

 

To Open Eyes, W-2s List Cost of Providing a Health Plan

 

The State Tax Reformers. More Governors look to repeal their income taxes. – From the WSJ

 

 

 

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Posted by taxguru on January 28, 2013

Total Tax-Code Termination? – The impossible task, to find a tax scheme that pleases everyone.  That’s why I have never feared a loss of work.

 

Google will not oppose clampdown on tax avoidance, chairman says – Another victim of bad PR over their legal tactics to save taxes.

 

Perry proposes amending Texas Constitution to allow state to return excess taxes –  Very unusual concept.  Almost every other politician will just find another way to spend any excess money they find.  They have no problem spending money they don’t have.

 

‘Wall St.’ flees NY for tax-free Fla. – The “Golden Goose” will only tolerate so much abuse by the State rulers before deciding enough is enough.

 

Mickelson and the Sports Star Tax Migration – From the WSJ.

 

From Argus Hamilton:

Tina Turner moved to Switzerland Friday as France’s richest man moved to Belgium to flee high taxes. Gerard Depardieu moved to Russia and Phil Mickelson is wavering. If there’s ever going to be life on Mars it’s going to be rich people escaping these governments.

Phil Mickelson caused an uproar in La Jolla when he said he may exit California due to the new high state income tax. It may have ruined the tournament. All weekend, golfers were missing short putts and high-fiving each other for staying out of a higher tax bracket.

John Kerry promised to divest his stock holdings that might pose a conflict of interest if he’s confirmed. He and his wife own a lot of defense industry stocks. He could be the first Secretary of State to double his net worth by intentionally screwing up peace talks.

Japan rebuked an official who said it’d save Japan a lot of money if old people would hurry up and die. Their senior citizens survived atomic bombings. People that resistant are going to be collecting government pensions until they’re a hundred and fifty years old.

 

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Posted by taxguru on January 26, 2013

From Argus Hamilton:

The Los Angeles Dodgers signed a record TV deal with Time Warner Cable this week worth eight billion dollars. The payroll is through the roof. The players are making so much money they are asking to be traded to Florida or Texas where the taxes are lower.

 

Social Security’s disability trust fund could fail to cover all benefits early as 2016 – And we should trust the same bozos in DC to be in charge of every aspect of our lives.

 

Phony drama over phony deal to resolve phony crisis – From Jack Kelly

 

The Sports Media Jihad Against Mickelson – Rush has more on the persecution of a pro athlete for the sin of complaining about his high taxes.

 

The truth behind Mickelson’s taxes – This CNN reporter actually knows more about Mickelson’s actual tax burden than he knows himself.  Isn’t CNN wonderful?

 

France’s richest man moves to Belgium and takes multi-billion pound fortune with him ‘to avoid new socialist super-tax’ – Are our retarded rulers in DC able to learn from the mistakes other countries make?  Why would they start now?

 

 

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Posted by taxguru on January 24, 2013

 

Mickelson and Woods Can Reclaim Their Patriotism by Backing Gay Marriage – Rush Limbaugh explains why Phil Mickelson had to retract his public complaints about high tax rates.  To be a good loyal citizen, everyone is expected to bend over and take as much fiscal raping as our rulers feel is good for them.  To complain is now considered an unpatriotic act.

 

 

The Progressive Income Tax and the Ruling Class – Rush explains how the Marxist high tax rates on successful people is used to prevent accumulation of privately held wealth.

 

 

 

Democrats: We’re Not Done Raising Taxes – It’s in their DNA to always increase taxes and to lie about it.

 

 

Jindal’s Bold Tax Reform – He’s still trying to drop income taxes from Louisiana.

 

From Argus Hamilton:

Phil Mickelson said Monday he may relocate his family to escape the higher federal taxes on the rich. It’s bad. The PGA stars have asked tournaments to stop putting their real names on the leader board because they don’t want to give the IRS their coordinates.

 

 

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Posted by taxguru on January 22, 2013

Mickelson backtracks on further comment on taxes after speaking out over high rate –  He was obviously attacked by the Thought Police, who let him know that it is not politically correct to want to keep more of one’s own hard earned money than our all wise and knowing rulers think we should be allowed to retain.

 

Tiger Woods admits he left California because of high tax rates after rival Phil Mickelson apologizes for saying he may quit West Coast – At least he’s honest about this.

 

Sarkozy’s plans ‘to dodge new 75% French tax rate by moving to London with wife Carla and setting up £1bn private equity fund’ –  You know things have gotten out of control tax-wise when a country’s former president becomes a tax refugee from his own nation. 

 

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Posted by taxguru on January 21, 2013

 

Teed off: Golf star Phil Mickelson may bolt California over taxes – He’s late to the game.  Most professional golfers, as well as many other pro athletes, live in Florida for the freedom from State income taxes.  Of course, they still often have to pay some income taxes to taxable States in which they earn money; but it works out to be much less than if they had a taxable state as their Tax Home.

 

Golfer Phil Mickelson Is Not Alone In Fleeing Taxes –  From Forbes

 

Republican governors’ plans for no state income tax lauded, criticized –  They sound good to anyone who believes in encouraging economic growth.

 

Experts: Smaller checks may lead to spending in-Security – Not exactly earth shattering news here.  It doesn’t exactly take an “expert” to figure this one out. Less money in consumers’ hands results in less spending by them.  What could be more obvious than that?

 

Mark Steyn And The Odd News Reported From America – Very funny look at the  insane ways in which our rulers deal with the ever-expanding national debt, including the ridiculous notion of minting a Trillion Dollar coin.  

 

USA Inc.’s balance sheet: Assets $2.7 trillion, Liabilities $18.8 trillion – In the real world, this would indicate bankruptcy; but since DC is in a parallel universe where conventional calculations don’t exist, it’s no big deal.

 

California man empties grandkids’ piggy banks to pay his $14,000 property tax bill in CHANGE – Feeling the pain of the tax.

 

Obama’s Social Security Games Make Case For Private Pensions – Of course, the vultures in power in DC can’t help drooling over the idea of seizing the money in private pensions.

 

Sin Tax Wars! 60.9% of all smokes in NY go untaxed – Anyone with half a brain (ruling out the rulers in Albany) could have predicted that high taxes would create a booming market in cigarette smuggling across state lines

 

Liberal tax leaves bitter taste in some smoothie drinkers’ mouths – Making libs pay more for things sounds like a fair move.

 

 

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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.

 

 

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Posted by taxguru on January 11, 2013

Louisiana Governor Jindal proposes ending state income tax –  Some serious competition to Nevada for PRC tax refugees.

 

Millions noticing paychecks lighter today, due to payroll tax hike 

 

Tax Code May Be the Most Progressive Since 1979 –  And that’s not a good thing.  Progressive means it punishes the evil rich with much higher percentage tax rates than those in the lower income levels.

 

McConnell: Tax issue ‘finished,’ focus should turn to spending cuts –  Don’t hold your breath waiting for Dims to discuss spending reductions.

 

Annual Inflation Adjustments for 2013 –  IRS released tax bracket adjustments for 2013.

 

US tax code longer than Bible, without good news – A different type of comparison.

 

Four Tips for the Executor Of an Estate –  A lot of responsibility that can cause a ton of problems, as well as animosity among heirs.

 

Obama supporters shocked, angry at new tax increases –  They were banking on the Dims only attacking the “other guys.”


Middle-Class Backers Shocked Obama Raised Their Taxes –  Anyone stupid enough to vote for 0baMao is obviously incapable of understanding the long term consequences of that act.

 

Democrats look for up to $1 trillion in new tax revenues this year –  As long as it’s taken from “somebody else.”

 

 

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Posted by taxguru on January 6, 2013

Pelosi suggests top earners pay even more in taxes –  There is no such thing as “Too High” of a tax rate for DemonRats.

 

McConnell: Tax issue ‘finished,’ focus should turn to spending cuts –  Has the GOP grown a spine?

 

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Posted by taxguru on January 4, 2013

Workers making $30,000 will take a bigger hit on their pay than those earning $500,000 under new fiscal deal  –  Everyone gets to suffer under 0Bamao’s income redistribution policies.

 

Trillion Dollar Coins: The Ultimate Debt Ceiling End-Around? –  We could all see this one coming.  Our rulers have pissed away so much money that Millions and Billions are no longer considered to be large amounts. 

 

David Cameron: Tax avoiding foreign firms like Starbucks and Amazon lack ‘moral scruples’ –  The UK Prime Minister has the same definition of patriotism as our DemonRat rulers in DC have.  In their selfish minds, a true patriot just bends over and allows the government to fiscally rape them as often and as much as they want.

 

Obama’s Idea Of ‘Balance’Is Higher Taxes To Fund A Growing Welfare State –  From Charles Krauthammer

 

From today’s emailed Thought of the Day:

“Government is a broker in pillage, and every election is a sort of advance auction in stolen goods.” – H. L. Mencken

 

 

Obama’s Fiscal Cliff Victory Is Far Less Than Meets the Eye – Unfortunately, our rulers never let pesky things, such as actual facts, get in the way of their class warfare agenda. 

 

 

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