Wow: A leading Senate conservative is taking aim at tax breaks that he says amount to welfare for millionaires, a line of critique that usually comes from liberal Democrats. Sen. Tom Coburn (R-Okla.) released a report detailing special tax breaks for wealthy income earners that could give members of the supercommittee common ground for raising […]
Yesterday there was a major Tea Party rally scheduled in Columbia, S.C, in which about 2,000 people were expected to attend. Well it didn’t turn out that way: The Columbia Tea Party went from Donald Trump to jilted chump after the celebrity businessman canceled his appearance at Thursday’s State House rally, and state legislators approved […]
When the GOP talks about tax breaks for the rich and businesses they always use the argument that the more money business has, the more people they will hire. This has been in a direct conflict of supply and demand economics and more proof is in this: Despite high unemployment and a largely languishing real […]
Finally parts of the U.S. might see some real internet speeds: Google says it will run fiber-to-the-home trials at the astounding data speed of 1 gigabit per second. They’ll sell this service at “a competitive price” to 50,000 people, possibly rising to 500,000 people. It’s at this point that I’d like to toss around some […]
Instead of letting Congress vote on one, the IRS went ahead and gave it to them: The federal government quietly agreed to forgo billions of dollars in potential tax payments from Citigroup as part of the deal announced this week to wean the company from the massive taxpayer bailout that helped it survive the financial […]
McCain wants to give more tax breaks to corporate America, but what about the corporations that pay nothing in taxes? Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. The study by the Government Accountability Office, expected to be released Tuesday, said about 68 […]
This is a really interesting story that is thankfully gaining attention. Halliburton announced this weekend that they will be moving their corporate headquarters from Houston, Texas to Dubai. There are a lot of questions surrounding this move – the biggest on their taxes. Halliburton generates a large portion of their income from U.S. contracts and […]
A week after Congress was given another raise, Senate has sent a big fuck-you to the American workers: The U.S. Senate Wednesday defeated a proposal pushed by Democrats to raise the federal minimum wage in increments from $5.15 to $7.25 an hour by Jan. 1, 2009. Sen. Edward Kennedy, a Massachusetts Democrat, unsuccessfully tried to […]
The Republicans have once again said “fuck middle America” and spent their time giving tax breaks to the rich: The Senate gave final approval Thursday to a $70 billion election-year package of tax cuts that will extend lower rates for investors and also save billions for families with above-average incomes. The Senate passed the measure […]
This is the framing for an interesting battle Key White House tax proposals would cost the U.S. government tens of billions of dollars in lost revenue, the Treasury Department said on Monday, although the administration says they will help boost revenues in the long run. Making permanent expiring tax breaks for dividends and capital gains, […]