Archive for taxes
Voters Are Catching On – Believe Democrats Will Raise Taxes and Increase Spending
Posted by: | CommentsThis is a no-brainer. We’ve seen that the Democrats love spending our money. Anyone with a brain understands that the only way to pay for the increased spending will be to raise our taxes.
Rasmussen reported:
Heading into the final two months of the mid-term election campaign, most voters believe that Democrats in Congress want to raise taxes and spending while Republicans in Congress want to cut taxes and spending.
At the same time, most voters believe that reducing taxes and spending would be good for the economy.
A new Rasmussen Reports national telephone survey finds that 62% of Likely Voters believe Congressional Democrats want to increase government spending. Only 16% believe the party wants to cut spending.
On the tax front, 59% believe that most Democrats in Congress want to increase taxes. Only 17% hold the opposite view.
As for Republicans, 51% say that most Republicans want to cut government spending and 50% say they want to cut taxes. Twenty-seven percent (27%) believe GOP legislators want to increase spending and 25% believe they want to increase taxes.
Will we now hear that a majority of voters are on the fringe?
Judge Blocks Paterson’s Cigarette Tax Scheme
Posted by: | CommentsA federal judge has blocked New York Governor David Paterson’s plan to impose his tax collection scheme on Native American tribes.
Syracuse.com: U.S. District Court Judge Richard Arcara prevented the state tax department from “implementing, administering, and enforcing” the law set to go into effect tomorrow.
The ruling was a victory for the Seneca and Cayuga tribes, who filed suit last week to stop the collections. The tribes said the state’s system for insuring that tribal members didn’t have to pay the taxes infringed on tribal sovereignty.
I’m not sure what this means for the other tribes. I heard on the local news that they are in talks with the governor’s office. No word on whether Governor Paterson sported a cowboy hat and shotgun at the meetings.
Enforcing the cigarette tax on the tribes will do little to help with the budget in Albany. It’s a drop in the bucket, and the increased taxes on cigarettes has backfired. Not to mention that the Native Americans are now manufacturing their own brands of cigarettes, so sales on those brands will increase while the name brand sales will decrease.
The Democrats’ War on Jobs Continues
Posted by: | CommentsSave US Energy Jobs released this video highlighting how the moratorium on drilling is killing jobs, and how the administration’s plan to double-tax domestic oil producers will kill even more American jobs.
I sat in on a conference call with Tom Pyle, President of the American Energy Alliance, who discussed the economic impact of the looming tax hikes on energy companies. The Gulf oil spill provides political cover for Obama and the Democrats to ram through an agenda they had planned all along. Pyle said that even before the oil spill, the administration was revoking permits, and not just in deep water areas, but everywhere. He also said that even if the administration lifts the moratorium on drilling, the rigs will still go overseas, along with thousands of jobs.
Pyle talked about the slate of taxation schemes the Democrats will try to impose when they return from recess. They want to repeal Section 199 tax credits for only the oil and gas industry. They also want to change dual capacity rules for American producers, which will be a boon for foreign companies. All of their plans will make us more dependent on foreign oil, not less. Isn’t that special? Hugo Chavez must be so happy.
To make matters worse, imposition of low carbon fuel standards will make it impossible to import from friendly countries like Canada, because they say there’s too much greenhouse gas emitted when they extract oil from the tar sands. So we’ll see an increase in tanker traffic, which is riskier than drilling.
All of this will make energy more expensive for us, while killing jobs in an already rotten economy.
One final thought: If they can target the oil and gas industries, who can’t they target?
Video: Philly Mayor Defends Tax on Bloggers
Posted by: | CommentsPhiladelphia’s Mayor Michael Nutter defended the city’s policy to force bloggers to pay $300 per year for a business license. (He’s interviewed at about the halfway point in the video.)
“If you’re paying taxes to the federal government, you should be paying taxes to the City of Philadelphia.”
What a ridiculous argument. If someone’s blog takes in $100 a year, they aren’t going to pay the federal government $300 a year on that income.
Via Breitbart
I’m on a date with Quick Books – Updated
Posted by: | CommentsNot exactly a fun evening, but you do what you’ve got to do to remain compliant with Uncle Sam. Our accountant is always appreciative of my efforts at tax time.
If it sounds like I’m complaining now, just wait until I get to file 1099 forms for all of these vendors Mr. LC uses for his business. Thanks, Democrats!
What fun am I missing out on?
Update: That was the worst date ever! I think I’m cross eyed from spending hours staring at numbers. On the bright side, I’ve gotten everything entered for the year except payroll. Hmmm. Maybe that’s not so bright, since I have to break each paycheck down into net to the employee, Workers’ Compensation and payroll taxes. Thanks, government. You really know how to make business fun.
Note to self: Never put off keeping the books for this long again, even if you are expecting to be laid off. Duh!
Michele Bachmann’s Redeemable Coupon – Get Yours Now
Posted by: | CommentsThe Michele Bachmann campaign doing its part for America, brings us this offer:
Posted by Maggie @ Maggie’s Notebook
Think the Democrats Energy Tax Plan is Dead? Think Again!
Posted by: | CommentsAs if things weren’t bad enough, now this. The Democrats haven’t yet given up on their energy tax plan, even though the American people clearly don’t want it. They don’t seem to care what the American people think anymore. They believe they were elected to rule us, rather than represent. Even if they lose miserably in the November mid-term elections, they still may ram through their plan before a new Congress takes over in January.
The GOP Conference sounded the alarm on their blog.
White House climate czar Carol Browner recently floated the prospect of Congress passing climate change legislation—a national energy tax—during a lame-duck session sometime after November 2, 2010. Conventional wisdom suggests that newly-retired and unaccountable Democrats in the House and Senate would be more willing to vote for an unpopular climate bill after Election Day.
Right on cue, labor unions and well-heeled environmentalists are now stepping up lobbying efforts across the country to push for a lame-duck national energy tax bill. Moreover, the president of the Communications Workers of America union says this coalition is even willing to help change Senate rules if it would grease the skids for climate legislation becoming law. Big Labor clearly sees big time special interest payoff in such massive government in the energy industry. As Michael Langford, president of the Utility Workers Union of America, put it, “It’s not very often we get an opportunity to create an industry, and this is that time.”
So what exactly do Americans have to look forward to in a lame-duck national energy tax? According to the Heritage Foundation, a bill similar to the House-passed Waxman-Markey legislation would lead to:
It will lead to higher energy costs, fewer jobs, and more harm to an already sluggish economy. That’s what the Democrats want to do to you this fall. Are you going to stand for it?
The Wall Street Journal’s editorial yesterday looked at the proposed income tax in Washington state that’s being pushed by the SEIU and Bill Gates. The tax on high earners is a violation of the state’s constitution, so they’ve worded it to get around the law. An argument in favor of the tax is truly indicative of how these leftists think.
Proponents claim that because the tax is withheld from worker paychecks, the money was never the property of the person who earned it. That’s like saying if someone steals your paycheck, it’s not your property.
Scary, isn’t it, that people who think the same way are running our country?
Libs Say Allowing the Bush Tax Cuts to Expire will be Celebrated by the Taxed
Posted by: | CommentsJust think, one day you can aspire to having your taxes increased in the Age of Obama! It will be a cause celébrè. Yay! I get to pay more in taxes! Not to worry, though. Thanks to Obama there will be far fewer of us making it into that tax bracket.
Wow! Who knew how lucky we were in the Obamaconomy! NewsBusters has much more on the message from the left. In the mean time, people like you and me can figure out how to set our sites lower, so we aren’t caught up in those incentive-killing tax hikes.
New York Cigarette Tax Backfires
Posted by: | CommentsThose big tax and spenders in Albany (and Washington, DC for that matter) never learn. What happens when you tax the hell out of a product? People stop buying it, or find a way to avoid the tax. That’s exactly what happened with the cigarette tax in New York. No surprise there to anyone with a brain.
Syracuse.com: In New York, the average state, federal and local tax on a pack of 20 cigarettes is now $6.02. That includes an 8 percent combined state and local sales tax, as well as a $1.01 federal excise tax, according to the state tax department.
New York raised its tax $1.60 a pack to generate $260 million to help offset a $9.2 billion budget gap.
The higher tax also pleases anti-smoking advocates, who say it will make New Yorkers healthier. But instead of quitting, Squadrito is buying her cigarettes on the Nation’s shop on Route 11. She stopped buying Marlboros at Lucky 7 at Teall Avenue and Court Street after the tax increase.
But it isn’t just the state that’s losing revenue. Small businesses in New York have been hit hard.
The New York Association of Convenience Stores said field reports show its members lost an average of 25 to 35 percent of their cigarette business in July, with those closest to state borders and tribal lands losing up to 45 percent of their business, said President Jim Calvin. It has also affected the number of customers going to convenience stores in general, causing a loss in non-cigarette sales, he said.
“This tax is only hurting New York State businesses,” said Squadrito, who has smoked for 32 years. “I plan on quitting soon, hopefully, but for right now I just buy the cheaper ones.”
Rather than decrease the tax, the state plans to continue their attack on the sovereignty of the American Indian tribes.
A Seneca Nation businessman who is challenging a federal law that makes it illegal to ship cigarettes through the mail called the seizure of thousands of cartons of his cigarettes from a delivery truck “clear retaliation” for his lawsuit.
The cigarettes were seized Monday, the day before lawyers for Aaron Pierce and 140 members of the Seneca Free Trade Association were due in U.S. District Court in Buffalo to continue their challenge to the Prevent All Cigarette Trafficking Act.
I’ve lived here long enough to know that the tribes aren’t going to take this lying down.
Wonder Why it’s So Hard to Find a Job?
Posted by: | CommentsA New Jersey business owner explained in the Wall Street Journal why he’s not hiring. Paying taxes to the government and staying in compliance with government regulations is quite expensive for both the employee and the employer.
Every year, we negotiate a renewal to our health coverage. This year, our provider demanded a 28% increase in premiums—for a lesser plan. This is in part a tax increase that the federal government has co-opted insurance providers to collect. We had never faced an increase anywhere near this large; in each of the last two years, the increase was under 10%.
To offset tax increases and steepening rises in health-insurance premiums, my company needs sustainably higher profits and sales—something unlikely in this “summer of recovery.” We can’t pass the additional costs onto our customers, because the market is too tight and we’d lose sales. Only governments can raise prices repeatedly and pretend there will be no consequences.
And even if the economic outlook were more encouraging, increasing revenues is always uncertain and expensive. As much as I might want to hire new salespeople, engineers and marketing staff in an effort to grow, I would be increasing my company’s vulnerability to government decisions to raise taxes, to policies that make health insurance more expensive, and to the difficulties of this economic environment.
A life in business is filled with uncertainties, but I can be quite sure that every time I hire someone my obligations to the government go up. From where I sit, the government’s message is unmistakable: Creating a new job carries a punishing price.
Businesses get punished for hiring. The current political climate is certainly not going to make the situation get better. It seems all the Democrats know how to do these days is spend money and blame Bush. But as pointed out at Heritage, blaming Bush doesn’t create jobs. If it did unemployment would be at about 2% right now.
Americans Like Taxes Other People Pay
Posted by: | CommentsI just saw that Rasmussen has a new poll showing Americans like the idea of a sales tax holiday during school shopping season.
Many states are offering sales tax-free shopping for school supplies and clothing this month. According to the latest Rasmussen Reports telephone survey, 62% favor such tax holidays, and just 22% oppose them.
Most (60%) Americans say they are more likely to buy during the tax-free period. Fourteen percent (14%) say they are less likely to do so, while 23% say a tax holiday has no impact on their shopping plans.
Are you starting to notice that people are fine with taxes other people pay, but when it comes to taxes they have to pay they’re all for opting out?
Dems Plan to ‘Fix’ Health Care 1099 Reporting Requirement With Tax on Oil Companies
Posted by: | CommentsRegular readers are familiar with the provision in Obamacare that will require American businesses to file millions of 1099 forms. The Republicans want to repeal the provision. Harry Reid submitted an amendment to a small business jobs bill that will exempt some businesses from filing the 1099′s, while raising taxes on oil companies to make up for any lost revenue.
From a press release, here’s the reasoning behind the move:
Instead, the Democratic alternative is paid for by repealing tax cuts for the five largest oil companies. Specifically, it would repeal Section 199 of the tax code, which currently allows these corporations to deduct six percent of their income from oil and gas production from their tax liability, effective December 31, 2010. This repeal would only apply to the five largest corporations with more than $1 billion of before-tax income.
The five major integrated oil companies, which include BP, had a combined profit of $25 billion in the first quarter of 2010. And, in the five years since enactment of the Section 199 deduction, these major integrated oil companies have posted $521 billion in profits. The profitability of these companies has been so robust that in the first quarter of 2009, when the U.S. GDP shrank by 6.4 percent and corporate profits decreased by 5.25 percent, these companies still earned more than $13 billion in profits.
Oil companies make too much profit, so the Democrats think they have the right to seize that profit. If they can do it to the oil companies, they can do it to any company they deem “too profitable.”
If this amendment passes, expect to pay for it at the pump, as the oil companies will surely pass the higher cost of doing business onto consumers.
The Latest Democrat Plan: Exempt Blue Districts from Tax Hikes
Posted by: | CommentsThis has to be the most insane thing I’ve heard, well, since the last time I heard a liberal talk.
New York Representative Jerrold Nadler has a plan to exempt people in liberal districts from paying higher taxes people like Nadler want to ram through. It’s amazing how bold these people are getting. Then again, the voters in Nadler’s district are probably happy to hear he’s looking out for them by trying to shield them from the taxes he would impose on everyone else.
Nadler says that people living in states like New York should get to pay less in federal taxes because their cost of living is so high. It’s a good thing I wasn’t drinking a beverage when I read this, or I would have spit or snorted it all over the screen. While I’m all for paying lower taxes, the only reason we New Yorkers are saddled with so many taxes is the progressive politicians that have been running things for so long.
In other words, the various tax brackets would apply to residents in certain regions at higher income levels versus other parts of the country. A family with an income of $50,000 or even $1 million in Manhattan would pay less federal income tax than a family with the same earnings in Omaha. The bill is called the Tax Equity Act, but a more accurate title would be the Blue State Tax Preference Act.
“The basic costs of life in the New York region are much steeper than in most parts the country,” says Mr. Nadler. “The reality is that a dollar in New York isn’t worth nearly as much as a dollar in Spokane or Knoxville or Topeka. It’s time for our tax code to take reality into account when assessing someone’s tax liability.”
That point about “reality” and the tax code could certainly use some fleshing out, but leave that aside. A big reason the cost of living is so high in Boston, Manhattan and San Francisco is because of high state and local taxes, union work rules, and heavy business regulation that make it more expensive to produce, sell and buy things.
Nadler isn’t alone on this, either. A number of his blue-state counterparts have also signed on, including New Yorkers Tim Bishop, Steve Israel, Nita Lowey, Carolyn Maloney and Carolyn McCarthy.
Hey flyover country – how do you feel about subsidizing people in states like New York who blindly vote for anyone with a “D” after their name? To my fellow New Yorkers – how about voting the people who raise your state and local taxes out of office… Oh, never mind. Most of you won’t listen to me anyway.
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