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Taxes Tag

Posted by William A. Jacobson on October 11, 2009 2 Comments

There is one supreme Democratic idiocy in the health care debate which has not received enough attention. The entire focus of the Democratic proposals -- whether HR3200, the Senate HELP Committee bill, the Baucus Concepts, or the Obama non-plan -- is to increase the cost...

Posted by William A. Jacobson on October 10, 2009 15 Comments

Karl Marx famously wrote that "history always repeats itself, the first time as tragedy, and the second as farce."Barack Obama has reversed these historical forces. With Obama, farce repeats itself as history.As a neophyte politician, Obama was elected to the Illinois State Senate when he...

Posted by William A. Jacobson on October 09, 2009 1 Comment

The Congressional Budget Office released its Monthly Budget Report for fiscal year 2009. Most of the news reports have focused on the deficit numbers, up to $1.4 trillion: CBO estimates that the federal budget deficit was about $1.4 trillion in fiscal year 2009, $950 billion...

Posted by William A. Jacobson on October 07, 2009 1 Comment

As pointed out here first, the Democratic health care restructuring plans put the IRS in the forefront of health care mandate enforcement (the Democratic HELP Committee version even gives the IRS the ability to set mandate tax rates -- why is no one talking about...

Posted by William A. Jacobson on October 06, 2009 4 Comments

Scrolling through the excellent TaxProf Blog reminded me of a fundamental dynamic in American politics. A large percentage of voters pay no federal income taxes: 47% Will Pay $0 Income Tax in 2009.But that doesn't tell the full story. For whom do these non-tax paying...

Posted by William A. Jacobson on September 27, 2009 8 Comments

I haven't paid much attention to the upcoming 2010 Census, until the recent death of part-time Census worker Bill Sparkman, whose death under unclear circumstances is being shamelessly exploited by left-wing blogs.I went to the Census website, and took a look at the questions which...

Posted by William A. Jacobson on September 26, 2009 4 Comments

This story has not received enough play, and has been lost in the shuffle of Obama's UN and G-20 appearances.The Senate Joint Committee on Taxation is considering the tax aspects of proposed Democratic health care bills. Republican Senator John Ensign has revealed that the bill...

Posted by William A. Jacobson on September 24, 2009 7 Comments

The efforts by Barack Obama to force NY Gov. David Paterson not to run for election in 2010 have roiled NY politics, and baffled many who wonder why a President felt the need to get involved in state politics.The crushing NY State budget gap has...

Posted by William A. Jacobson on September 12, 2009 7 Comments

A movement is growing in Britain to slash government spending rather than impose tax increases, according to the Sunday Times:Voters are overwhelmingly in favour of cutting public spending rather than tax rises to close the budget black hole, a Sunday Times/YouGov poll finds today.Sixty per...

Posted by William A. Jacobson on August 25, 2009 1 Comment

More tax mischief surfaces, once again, when the pending House health care bill is squeezed. This analysis by a tax lawyer at the law firm of Cleary Gottlieb shows that when various cross-referenced provisions are read together, the House bill limits the discretion of the...

Posted by William A. Jacobson on August 21, 2009 4 Comments

Why hadn't I seen this before?[youtube=http://www.youtube.com/watch?v=q9GMKK_fWKg](h/t Tysk)--------------------------------------------Related Posts:Bureaucracy Expansion Act of 2009IRS The New Health Care EnforcerFollow me on Twitter and Facebook...

Posted by William A. Jacobson on August 20, 2009 0 Comments

To resolve the Mexican Standoff in which the Democrats find themselves over the health care restructuring bill, Harry Reid apparently has come up with the idea of splitting the bill. The popular insurance reform provisions would go to a full Senate vote subject to a...

Posted by William A. Jacobson on August 17, 2009 6 Comments

As set forth in my prior post, IRS The New Health Care Enforcer, the new tax provisions in the Senate and House draft health care bills tax people for failing to obtain acceptable health coverage. These taxes are crucial to implementing a health care mandate...

Posted by William A. Jacobson on August 14, 2009 30 Comments

People often joke that government-run health care will have the efficiency of the motor vehicle department, and the compassion of the Internal Revenue Service. This joke will become reality if present Democratic health restructuring proposals are enacted.Under both the House and Senate Health, Education, Labor...

Posted by William A. Jacobson on August 01, 2009 4 Comments

The NY Times reports on whether the Treasury's "Pay Czar" will try to break the contract Citigroup has with a Phibro commodities trader, under which the trader is owed $100 million. There apparently is no dispute that absent the Treasury lending Citigroup money, and the...

Posted by William A. Jacobson on June 22, 2009 9 Comments

Want to laugh out loud? Read "Barack Obama, Deficit-Slayer" by Matthew Yglesias: As the economy recovers, tax revenues will rise, social safety net outlays will fall, and stimulus measures will begin to tamp down. If we can assume further growth in 2011, the complete expiry...

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