From the Wall Street Journal.com:
'If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime." So spoke Barack Obama at his first address to Congress in February. We're about to find out if" [...]
I know I shouldn't be surprised. After almost three decades of serious Capitol Hill watching, including views from inside several House and Senate office buildings, I've witnessed a lot of curious inept jaw-droppingly stupid dubious Congressional actions.
But the Senate's decision yesterday to let the estate tax expire is [...]
From the Examiner.com:
House Democrats settle for a $300 Billion increase in the national debt ceiling in order to avoid limits on spending.
Moderate Democrats had intended to attach amendments to the initial $1.8 Trillion increase that would have required congress to pay for [...]
Funny thing, that Research and Development Tax Credit. It's been around since 1981, but it has never been made permanent. Every time it dies, Congress comes along and resurrects the darned thing. It has more lives than a cat -- 13 and counting, to be exact.
Its [...]
From NYTimes.com:
Runaway federal deficits have thrust a politically unsavory savior into the spotlight: a nationwide tax on goods and services.
Members of Congress, like their constituents, are squeamish about such ideas, instead suggesting spending cuts or higher taxes on the rich. But with a lack of [...]
The House of Representatives approved the extension of 45 "expiring" provisions for 2010. These provisions include tax breaks ranging from the Research Credit to seven-year depreciation for "qualified motor sports facilities."
One tax scholar says temporary provisions like this are a good idea because they allegedly make Congress [...]
FT.com / UK - TUC seeks tax relief cuts for the wealthy.
The chancellor could raise £10bn a year by capping the amount of tax relief that can be claimed by those earning more than £100,000 a year at £5,000, Brendan Barber, Trades Union Congress general secretary, said yesterday.
The move, [...]
From Reuters.com:
The U.S. government racked up a gaping shortfall in the first two months of this fiscal year after posting a record budget deficit last year, congressional analysts said on Friday.
In October and November, the government spent $292 billion more than it took in, [...]
The tax code has achieved uprecedented levels of ugly in the last 15 years, and targeted tax credits are the reverse cosmetic surgery behind much of it. The conceit is that by careful rewarding certain behaviors with tax credits, Congress can make the world a better place. The reality [...]
The Act also grants to the Commission the authority to provide shareholders with “access” to the proxy statement. The Commission almost certainly has the authority already but because business organizations have threatened to challenge any access rule in court, Congress has moved ahead to clarify the authority and cut off [...]
The House this afternoon approved, by a 225-to-220 vote, a measure to keep the current estate tax law in place permanently. That's a 45 percent tax on estates in excess of $3.5 million per individual ($7 million for married couples).
Of course, Congress doesn't always operate under the same definitional [...]
Next week, the United States House of Representatives will vote on whether or not to extend the current estate tax rates or allow them to expire at the end of 2009. While members of Congress support the extension, the biggest roadblock will be getting legislation through the Senate, who will [...]
Job creation is still a hot topic amongst lawmakers, as legislators are desperate for a way to lower the ever-increasing unemployment rate. One of the methods proposed by Democrats in Congress is to create a new stock market tax to pay for job creation. The move could generate the Federal [...]
One of the most puzzling things about this area of law has been the judicial interpretation of the Supreme Court's analysis in Lampf. Lampf held that under Rule 10b-5, the courts should look to the one year, three year limitations period in Section 9(e) of the Exchange Act. Congress superseded [...]
One of the most puzzling things about this area of law has been the judicial interpretation of the Supreme Court's analysis in Lampf. Lampf held that under Rule 10b-5, the courts should look to the one year, three year limitations period in Section 9(e) of the Exchange Act. Congress superseded [...]
There's one segment of the healthcare industry that has avoided the soaring prices of the rest of the system -- cosmetic surgery. Congress can't stand an example of how health care can actually work when the government and insurance companies aren't involved, so they want to tax tummy tucks. [...]
