Image 01 Image 02 Image 03

taxes Tag

On a scale of 1 - "I'm not desperate, you're desperate! ::nervous laugh::", Democrats standing somewhere between "shoot ourselves in the foot twice and try to make an issue of something no one cares about" and "this is literally all the eggs we own right here in this shoddy little basket." Friday, the Chairman of the House Ways and Means Committee issued a subpoena to Treasury Secretary Steven Mnuchin and IRS Commissioner Chuck Rettig demanding Trump's tax returns.

Welcome to my home state of Illinois where you don't have a real governor unless he (or she) has some kind of investigation under their belt. Looks like the current governor could face his own federal trouble. Democrat Gov. J.B. Pritzker, his wife, and his brother-in-law have fallen into a federal investigation over the removal of toilets in a mansion in order to receive a property tax break.

Happy Tax Day! Unfortunately, the 16th Amendment still exists, which means everyone pays federal taxes. Today is the due date so you better get it in or else the IRS will come after you for the money they believe belongs to them. But I digress. Remember that tax plan that passed in late 2017? The left pounced and convinced people they would not receive a tax cut. Some even believed they would see a tax increase. Lies. Data has proven the left wrong once again.

Sorry, Democrats, but data recently released from the IRS indicates tax refunds haven't dwindled following Trump's tax reform, they're actually up by a whole 1.3% (on average). Since its passage, Democrats have demonized the tax reform legislation, first claiming the increase in take-home pay was minimal, then suggesting companies would just keep the extra for themselves, greedy corporations and all. When large companies passed the saving to their employees, Democrats went back to the, well it's just a one-time small gift, mantra.

As more Democrats declare their intention to run for president in 2020, they will be under increased pressure to distinguish themselves from the rest of the crowd. One of the ways this is already unfolding is a competition to be the person who wants to raise taxes the highest on high earners.

California regulators are among the most creative rule-makers when it comes to separating citizens from their money. Take, for instance, this amazing new proposal to tax text messages in the name of "Economic Justice."
California regulators are considering a plan to charge a fee for text messaging on mobile phones to help fund programs that make phone service accessible to the poor.

Despite the fact that millions of their citizens are enjoying the "crumbs" of the tax cuts, including bonuses from their now prosperous companies, four states are filing lawsuits against the IRS, claiming the tax law is unconstitutional.
New York, Connecticut, Maryland and New Jersey filed a lawsuit Tuesday claiming last year's tax overhaul violated the constitution by unfairly targeting Democratic states. The law puts a new cap on how much Americans are allowed to deduct for state and local taxes, or SALT, from their federal bill. Once unlimited, the deduction is now capped at $10,000. Deductions help reduce a person's overall tax bill.

I blogged last week that Seattle's city council pulled its head tax less than a month after the members passed it after legitimate pressure from Amazon, Starbucks, and other businesses. I detailed in my blog the trouble with unnecessary corporate taxes such as fewer new jobs and less expansion. Despite this, the cities that make up California's infamous Silicon Valley wants to pass its own head tax.

Less than a month after they passed it, Seattle's city council voted to repeal the corporate head tax after facing legitimate pressure from companies like Starbucks and Amazon. The tax would have forced companies that make "more than $20 million a year pay an annual $275 tax per employee." The council predicted the tax would raise $47 million a year for "affordable-housing and homeless services." The city council planned to use that extra tax money to counter the city's growing homeless problem.