taxes  (Page 1)

Illinois: Cook County Beverage Tax Will Start on Wednesday

https://www.youtube.com/watch?v=0nYb6bCCsyk
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Posted by  ▪  Saturday, July 29, 2017 at 3:30pm 7/29/2017 at 3:30pm
https://www.youtube.com/watch?v=0nYb6bCCsyk

Cook County Circuit Judge Daniel Kubasiak dismissed a challenge to the county’s beverage tax as unconstitutional, which means the tax will go into effect on Wednesday. From The Chicago Tribune:

In the immediate aftermath of Friday’s ruling, retailers and beverage industry groups lamented the setback, while health groups and county officials cheered....

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Tax Reform: GOP Leaders, White House Drop Border Adjustment Tax

https://www.youtube.com/watch?v=SuDlcHAqbLg
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Posted by  ▪  Friday, July 28, 2017 at 11:30am 7/28/2017 at 11:30am
https://www.youtube.com/watch?v=SuDlcHAqbLg

Congressional Republicans and President Donald Trump’s administration decided to abandon the controversial border adjustment tax (BAT) and concentrate more on corporate tax in their tax reform approach. The joint statement read:

While we have debated the pro-growth benefits of border adjustability, we appreciate that there are many unknowns associated with it and...

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Cook County Threatens 1,100 Layoffs After Soda Tax Delayed

http://abc7chicago.com/food/cook-county-to-cut-1100-jobs-due-to-soda-tax-delay/2206657/
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Posted by  ▪  Wednesday, July 12, 2017 at 11:30am 7/12/2017 at 11:30am
http://abc7chicago.com/food/cook-county-to-cut-1100-jobs-due-to-soda-tax-delay/2206657/

Officials in Cook County, the home of Chicago, have threatened to pass out 1,100 layoff notices since a judge delayed implementation of a soda tax.

Circuit Judge Daniel Kubasiak placed a temporary hold on the tax until at least July 21. Cook County Board President Toni Preckwinkle said this move has forced...

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Illinois House Overrides Gov. Rauner’s Veto on Tax Hike, Budget Bill

https://www.youtube.com/watch?v=LEDGozKBZEA
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Posted by  ▪  Thursday, July 6, 2017 at 7:00pm 7/6/2017 at 7:00pm
https://www.youtube.com/watch?v=LEDGozKBZEA

The Illinois House voted to override Republican Governor Bruce Rauner’s veto of the income tax hike and budget bill. This is the first budget Illinois has passed in two years.

The House voted 71-42, which is the bare minimum House Speaker Mike Madigan needed, after a security incident delayed the vote for...

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Why Slashing Interest Deduction Could Cause Trouble for Businesses

https://commons.wikimedia.org/wiki/File:Mount_Angel_OR_-_grain_field.jpg
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Posted by  ▪  Saturday, July 1, 2017 at 5:30pm 7/1/2017 at 5:30pm
https://commons.wikimedia.org/wiki/File:Mount_Angel_OR_-_grain_field.jpg

Healthcare reform has taken center stage once again, but tax reform still lurks in the background. It’s yet another issue that Congressional Republicans cannot agree on, mainly on the border adjustment tax.

But there’s a tax deduction the Republicans may eliminate that could cause problems and possible resistance among lawmakers, including within...

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Blue Dog Democrats Met With Trump Officials to Discuss Tax Reform

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Posted by  ▪  Wednesday, June 21, 2017 at 1:09pm 6/21/2017 at 1:09pm
https://commons.wikimedia.org/wiki/File:Steven_Mnuchin_official_portrait.jpg

THEY DO EXIST! Yes, Congress still has Blue Dog Democrats within its walls. The group consists of only 18 members, but it could be enough to push tax reform through this year.

These Democrats view themselves as ones who can help “broker a bipartisan deal.” The Hill reported:

“If it’s constructive, if they’re...

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It’s Time for Taxpayers to Start Issuing Campus Demands

https://youtu.be/Mc5zyX_oENA
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Posted by  ▪  Tuesday, June 13, 2017 at 7:00am 6/13/2017 at 7:00am
https://youtu.be/Mc5zyX_oENA

If taxpayers are funding public colleges and the loans which make it possible for many students to attend them, then taxpayers are completely entitled to issue demands.

That’s the subject of a new column I’ve written for Townhall:

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Cook County Exempts Food Stamps From Soda Tax

http://cdn.phillymag.com/wp-content/uploads/2016/06/soda-tax-philadelphia-940x540.jpg
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Posted by  ▪  Monday, June 12, 2017 at 10:21am 6/12/2017 at 10:21am
http://cdn.phillymag.com/wp-content/uploads/2016/06/soda-tax-philadelphia-940x540.jpg

Cook County in Illinois, home to Chicago, has decided that its soda tax will not apply to food stamps.

Purchases made with food stamps cannot have state and local taxes tacked onto them, according to federal law. Cook county tried to bypass that law, but none of the options officials used took...

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Does Connecticut’s Governor Finally Comprehend Dangers of “Taxing the Rich”?

https://youtu.be/ObaCjT8Cx7w
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Posted by  ▪  Saturday, June 3, 2017 at 5:30pm 6/3/2017 at 5:30pm
https://youtu.be/ObaCjT8Cx7w

Connecticut governor Dannel Malloy (D) is facing a situation that may make him reconsider his position on taxing the wealthy.  Aetna insurance company, based in Hartford since 1853, is looking for a new state to call home, a state that is more business-friendly in terms of taxation.

Having lost GE to Boston...

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Mulvaney, Mnuchin Offer Different Views on Trump’s Tax Plans

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Posted by  ▪  Monday, May 29, 2017 at 12:30pm 5/29/2017 at 12:30pm

I think it’s safe to assume that a tax reform plan will take a lot longer than Trump’s administration thinks, especially when his officials cannot agree on how the plan will work.

That’s exactly what happened when White House Budget Director Mick Mulvaney and Treasury Secretary Steven Mnuchin testified in front of...

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Paul Ryan Won’t Let Go of the Border Adjustment Tax

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Posted by  ▪  Wednesday, May 24, 2017 at 4:00pm 5/24/2017 at 4:00pm

Speaker Paul Ryan (R-WI) will not let go of a border adjustment tax (BAT) when it comes to tax reform, which will set up a major showdown with the White House and possibly the Senate.

Ryan admitted today that the House could pass a tax bill without the BAT, but he’s still...

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Illinois Senate Wants to Hike the Income Tax

http://www.illinoishomepage.net/news/capitol-news/senate-passes-budget/720035546
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Posted by  ▪  Wednesday, May 24, 2017 at 3:00pm 5/24/2017 at 3:00pm
http://www.illinoishomepage.net/news/capitol-news/senate-passes-budget/720035546

How do you fix the economy? Why, hike taxes instead of slashing the budget of course! Well, that’s how it works in good old Illinois. The state faces a budget crisis (what else is new?!) and the Senate decided to fix it by approving a raise in income tax. From ...

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California aims to tax satellite launches

https://www.youtube.com/watch?v=_9JxSrwlTA4
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Posted by  ▪  Saturday, May 6, 2017 at 12:00pm 5/6/2017 at 12:00pm
https://www.youtube.com/watch?v=_9JxSrwlTA4

President Donald Trump plans to pursue public-private partnerships for develop the space industry, which is likely to increase the development and profitability of these firms.

The State of California obviously foresees th...

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ECON 101 Comes to Connecticut: Taxing the Rich Doesn’t Work

http://wtnh.com/2017/04/28/income-tax-revenue-collapses-malloy-says-taxing-the-rich-doesnt-work/
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Posted by  ▪  Wednesday, May 3, 2017 at 11:30am 5/3/2017 at 11:30am
http://wtnh.com/2017/04/28/income-tax-revenue-collapses-malloy-says-taxing-the-rich-doesnt-work/

Connecticut Governor Dannel Malloy did the unthinkable for a Democrat: He admitted taxing the rich does not work. The state has witnessed “two high-end tax hikes in the past six years.” So the wealthy in Connecticut have done what any sane person would choose to do: LEAVE.

Now the state faces a...

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Trump’s Tax Plan: Cut Corporate Taxes, Three Brackets for Income Taxes

https://www.youtube.com/watch?v=TTlkX41zuhQ
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Posted by  ▪  Wednesday, April 26, 2017 at 5:33pm 4/26/2017 at 5:33pm
https://www.youtube.com/watch?v=TTlkX41zuhQ

Secretary of Treasury Steven Mnuchin and National Economic Council Director Gary Cohn spoke to the press at the White House today about President Donald Trump’s tax reform plan. Trump wants to slash the corporate tax rate to 15%, which I covered yesterday. But he also wants to place income taxes for...

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Trump Pursuing a 15% Corporate Tax Rate

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Posted by  ▪  Tuesday, April 25, 2017 at 10:00am 4/25/2017 at 10:00am

President Donald Trump has offered us a little hint into the tax reform plan he wants to unveil on Wednesday. He has demanded aides to draft a plan that cuts ...

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In 2017, Americans Spending More on Taxes Than Food, Clothing, and Housing Combined

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Posted by  ▪  Monday, April 24, 2017 at 4:00pm 4/24/2017 at 4:00pm

April 23rd of this year was Tax Freedom Day, or “the day when the nation as a whole has earned enough money to pay its total tax bill for the year”.

A whopping 31% of the nation’s earnings are confiscated by the government for federal and state taxes for a total of...

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