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Taxes Tag

Posted by William A. Jacobson on August 22, 2011 42 Comments

... in order to pay for your grand spending plans is that sometimes you run out of rich: ... based on 2009 IRS figures, ... the number of taxpayers reporting annual income over $1 million fell 39 percent between 2007 and 2009; the number of super-wealthy...

Posted by William A. Jacobson on August 15, 2011 44 Comments

Warren Buffett has an op-ed in The NY Times bemoaning the fact that he and other super-wealthy investors pay a lower percentage of their income in taxes than their secretaries and other lower-paid staff members.  This is an argument frequently heard from Democrats. But in making...

Posted by William A. Jacobson on August 12, 2011 16 Comments

Obama once again is moving hard on the class warfare, and there is every signal that setting up a fight between the "rich" and "not rich" is the Democratic campaign theme for 2012. Obama keeps claiming the "rich" do not pay their fair share, but the...

Posted by William A. Jacobson on August 06, 2011 21 Comments

Consider this just an ideas open thread. Keep it clean, children could be reading. I'll start:  There is a deep sadness at the loss of members of SEAL Team 6.  Every soldier is valuable and mourned, but this tragedy seems to be special. Updates:  This chart from Division...

Posted by William A. Jacobson on August 03, 2011 14 Comments

The debt deal "trigger" requires that one-half of the budget cuts come from the military if the "super committee" cannot reach agreement or if the Congress fails to pass the super committees proposal. The concept was that fear of military cuts would force Republicans to strike...

Posted by William A. Jacobson on July 31, 2011 9 Comments

From the Powerline Prize competition (h/t Glenn Reynolds): ...

Posted by William A. Jacobson on July 20, 2011 8 Comments

I am amazed, once again, that liberals are not screaming at the tops of their lungs about Obama's proposal to extend the social security tax holiday for another year. I noted in October 2008, January 2009, and again in December 2010, that Obama seeks to end...

Posted by William A. Jacobson on July 11, 2011 23 Comments

I was right, mostly. The serious, conciliatory Obama showed up at the press conference today. The only reasonable person in the room was the theme. I was wrong to the extent that in his opening statement and throughout Obama framed the issue as the Republicans not...

Posted by William A. Jacobson on July 10, 2011 22 Comments

Democrats have an idea.  Let's take an additional $2 trillion from the private sector and give it to the federal government. What possibly could go wrong? ...

Posted by William A. Jacobson on July 10, 2011 26 Comments

Last night John Boehner announced that Republicans were abandoning an attempt to reach a $4 trillion deficit reduction deal with Obama because Obama inisted on $1 trillion in tax increases.    Obama always wants new taxes on the "rich."  As Michael Alan wrote here, Obama wanted tax...

Posted by Michael Alan on July 01, 2011 3 Comments

In his rather "prickly" press conference on Wednesday, President Obama made it sound as if tax increases (or, to use the Democrats' language, "cutting spending in the tax code") were part of a last resort at trimming the deficit as the federal government reaches its...

Posted by William A. Jacobson on June 30, 2011 12 Comments

The Revolt of the Kulaks has come to California. Via Drudge, California's attempt to tax internet sales has met with a reaction: Gov. Jerry Brown has signed into law California's tax on Internet sales through affiliate advertising which will immediately cut small-business website revenue 20% to 30%, experts...

Posted by William A. Jacobson on June 12, 2011 1 Comment

I heard it on the radio, so it must be true.--------------------------------------------Follow me on Twitter, Facebook, and YouTubeVisit the Legal Insurrection Shop on CafePress!...

Posted by William A. Jacobson on May 04, 2011 18 Comments

Via TaxProf comes this news:  51% of income "tax filing units" now pay no federal income tax.  While that does not necessarily translate into 51% of the population, it still shows that there is a strong political incentive to pander to those who pay no federal income...

Posted by William A. Jacobson on April 19, 2011 3 Comments

About 30 people in Providence, RI protested outside a Bank of America branch as part of MoveOn.org's Tax Day: Make Them Pay national protest.The video below shows two of the protesters accompanied by someone taking video entering the bank to present a "tax bill" to BofA.  I...

Posted by William A. Jacobson on March 23, 2011 8 Comments

It's slow posting here today.I'm trying to get as much done on income tax preparation this week as possible, since it's our spring recess.Every year I go through the same thought process:The income tax preparation process is a colossal waste of time, effort and resources.  It...

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