ShortFormBlogtax Archives

We give money away to a few people at the expense of the many.
GOP Senator Lindsay Graham • Pushing to close tax loopholes that benefit upper-income earners. While it seems obvious (to most) that we ought to close tax loopholes, Republicans in Congress have, for the most part, resolutely opposed any modification of the tax code that brings in additional revenue. To hear a prominent Republican say something like this is a faint glimmer of hope that maybe–and that’s a big maybe– Republicans will bend a bit on revenues; this could, in turn, translate into a deal to raise the debt-ceiling. Which would be nice. source

Posted by Seth Millstein • 0 Comments • Permalink

This initiative sponsored by greedy Texas oil companies would cripple California’s fastest-growing economic sector, reverse our renewable energy policy and decimate our environmental progress for the benefit of these oil companies’ profit margins. … I will not allow this to happen on my watch.
California Gov. Arnold Schwarzenegger • Reacting with disgust about the addition of a ballot initiative which would limit a global warming bill from getting enacted until the unemployment rate, currently at 12 percent in the state, was at 5.5 percent for at least a year. Which is total crap, because the bill’s designed to create new kinds of jobs. Who’s behind the initative? Texas oil giants Valero Energy Inc. and Tesoro Corp. That’s right. Big oil is trying to make a global warming initiative go away. They’ve spent $3 million on it and have painted it as an “energy tax.” Which isn’t what the bill is at all. Unbelievable. source

Posted by Ernie Smith • 2 Comments • Permalink

Posted by Ernie Smith • 0 Comments • Permalink

Many doctors say that putting a tax on soda – much like cigarettes – helps promote healthier choices by discouraging the empty calories of sugar water. source

The beverage industry (which can throw lots of money at this issue), however, is fighting this idea tooth and nail. And support for the tax is not universal. source

Posted by Ernie Smith • 0 Comments • Permalink

Hey, people smoke it anyway. Might as well tax it, right California? source

Posted by Ernie Smith • 0 Comments • Permalink

Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing? source

Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing?
Already on the table He didn’t exactly come to office with a clean slate deficit-wise. He came in with a deficit of $1.2 trillion left by that Bush guy, which should probably rise to $1.5 trillion by the time all his stimulus stuff hits. In other words, imagine one of Scrooge McDuck’s giant money bins. Then imagine it empty. Then imagine jumping into it. source

Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing?
Already on the table He didn’t exactly come to office with a clean slate deficit-wise. He came in with a deficit of $1.2 trillion left by that Bush guy, which should probably rise to $1.5 trillion by the time all his stimulus stuff hits. In other words, imagine one of Scrooge McDuck’s giant money bins. Then imagine it empty. Then imagine jumping into it.
How he plans to do it Among other things, he’s suggested taxing the he investment income of hedge fund and private equity partners at higher rates. Currently, they’re taxed at the capital gains rate, which is 15 percent at most. He wants to tax them at ordinary income tax rates of as high as 39 percent. Which probably won’t make Rick Santelli happy. source

Posted by Ernie Smith • 0 Comments • Permalink

13 Jul 2011 23:20