Taxes
4/26/2012 | Campaign Finance, Taxes
RNC chief accuses Obama of campaigning on taxpayer's dime
The Hill
The Republican National Committee is asking the Government Accountability Office to examine President Obama's "misuse" of government funds to benefit his reelection campaign.
In an official complaint filed with the GAO, a watchdog agency, RNC Chairman Reince Priebus accuses Obama of "passing off campaign travel as official events," using taxpayer money to fund his reelection efforts.
"Given the recent excesses, waste and abuse uncovered in the General Services Administration, the GAO should be particularly sensitive to misuse of taxpayer dollars," Preibus wrote in a letter to Comptroller General Gene L. Dodaro.
Recommended Guests:
Tom DeLay, Former House Majority Leader, United States House of RepresentativesJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceColin Hanna, Colin Hanna, President, Let Freedom Ring USAGary Marx, Executive Director, Judicial Confirmation NetworkGrover Norquist, President, Americans for Tax Reform (ATR)Tony Strickland, Taxpayer Advocate4/24/2012 | Economy, Taxes
Romney Vows to Maintain 'Progressive' Tax Code
CNS News
Former Massachusetts Gov. Mitt Romney has repeatedly vowed during his presidential campaign that if he is elected president he will maintain the "progressivity" of the tax code, so that as a person's income goes up he or she will be required to give an increasing percentage of it to the government in taxes.
Romney's advocacy of a progressive tax goes back a long way. In 1996, as a private citizen, according to the Boston Globe, he spent $50,000 of his own money to run full-page advertisements in the Globe, the Des Moines Register, the New Hampshire Sunday News and the Boston Herald to express his opposition to the 17-percent flat tax that then-presidential candidate Steve Forbes was promoting as a part of his campaign.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 4/12/2012 | Taxes
Tea Party Launches Group to Combat IRS
CNS News
Saying President Barack Obama is “targeting the Tea Party” and using the “IRS as a weapon,” Tea Party activists Wednesday launched a coalition to combat the federal government agency’s burdensome and onerous interrogation of conservative groups to determine if they should receive tax exempt status.
Speaking at the National Press Club, two Tea Party group leaders announced the formation of the Liberty Defense Foundation, which will assist grassroots organizations in fending off long questionnaires from the IRS when filing for 501 (c) (4) non-profit status.
4/3/2012 | Economy, Taxes
U.S. Now Has World’s Highest Corporate Tax Rate
CNS News
When Japan officially reduced its corporate tax rate from 39.8 to 36.8 percent on Sunday the United States became the country with the highest corporate tax rate in the world – 39.2 percent.
The U.S. rate is made up of the federal business tax rate of 35 percent plus the average rate from among the states. The figure does not equal what American corporations actually pay – the effective tax rate – but represents the marginal tax rate all businesses must face.
Japan became the last in a long line of developed countries to have reduced their marginal corporate tax rates since 1990, a trend the U.S. has ignored. The average corporate tax rates in the developed world was 26 percent in 2010, according to the Organization for Economic Cooperation and Development (OECD).
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 2/23/2012 | Economy, Taxes
Bonuses given after raises at Solyndra
The Washington Times
Several of the nearly two dozen employees at bankrupt solar panel maker Solyndra LLC who were approved for bonuses Wednesday had months earlier received pay raises as high as 70 percent, a fact the company never disclosed in its request for bonus cash.
The company’s bankruptcy attorneys sought permission for the bonuses in a court hearing, arguing that the extra cash is needed to keep key employees from fleeing only to be replaced by more expensive outside consultants.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 1/31/2012 | Economy, Taxes
'Buffett Rule’ Affects 94,500 Taxpayers, But White House Says It Would Help Pay for Education, Innovation
CNS News
The so-called “Buffett rule,” named for the billionaire Warren Buffett, would increase taxes on fewer than 100,000 millionaire taxpayers, according to the non-partisan Congressional Research Service.
Nevertheless, White House Press Secretary Jay Carney promoted the rule to cover the cost of “important investments that we need to pay for” such as “investments” in national security, education and innovation.
During the State of the Union address last week, President Barack Obama told a joint session of Congress, “Tax reform should follow the ‘Buffett rule.’” Obama added, “If you make more than $1 million a year, you should not pay less than 30 percent in taxes.”
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 7/28/2011 | Economy, Taxes
GOP Bill Would Prioritize Payments to Debt Interest, Social Security and Military Pay
CNS News
A group of congressional Republicans unveiled the “Ensuring the Full Faith and Credit of the United States and Protecting America’s Soldiers and Seniors Act” on Tuesday. The legislation would require the Treasury secretary to prioritize payments on interest on the national debt, Social Security and military pay.
“What our bill would do is it would instruct the Treasury secretary in the event that the debt ceiling is not raised prior to August 2 to make certain obligations priorities so that they will be paid in full, on time, and without delay,” Sen. Patrick Toomey (R-Pa) said during a Capitol Hill news conference announcing the legislation.
“The three priorities are simple,” he said. “First, it’s interest on our debt, so that we will not default on our debt and not plunge our economy into chaos. Second, Social Security payments because millions of senior citizens, including my parents, depend on Social Security payments that they’ve earned by virtue of their own prior contributions to the system. And, finally, the payroll for active duty military personnel, because the men and women who are risking their lives for us should not have to worry about whether their families will receive their income in a timely fashion.”
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 6/30/2011 | Economy, Taxes
Shopping at Amazon.com Inc. and other major Internet stores is poised to get more expensive.
Los Angeles Times
Beginning Friday, a new state law will require large out-of-state retailers to collect sales taxes on purchases that their California customers make on the Internet — a prospect eased only slightly by a 1-percentage-point drop in the tax that also takes effect at the same time.
Getting the taxes, which consumers typically don't pay to the state if online merchants don't charge them, is "a common-sense idea," said Gov. Jerry Brown, who signed the legislation into law Wednesday.
The new tax collection requirement — part of budget-related legislation — is expected to raise an estimated $317 million a year in new state and local government revenue.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 6/23/2011 | Taxes, Governmental Control, Economy
Conservatives’ Pledge: No Debt-Limit Hike Without Limits on Spending, Taxes
CNS News
Conservative Americans are sounding a call to “cut, cap and balance” the federal budget.
On Wednesday, leading conservatives from the U.S. Senate and House of Representatives joined a broad coalition of conservative activists to unveil a pledge that commits lawmakers to oppose any increase in the debt limit unless substantial cuts in spending are made to reduce the deficit next year, enforceable spending caps are enacted to put the federal government on a path to a balanced budget, and Congress passes a constitutional balanced budget amendment that permanently limits federal spending and requires a supermajority for enacting tax increases.
It is called the “Cut, Cap and Balance” pledge.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteTom DeLay, Former House Majority Leader, United States House of RepresentativesWilliam Devlin, Senior Pastor-Manhattan Bible ChurchChuck Donovan, Senior Research Fellow-DeVos Center for Religion a, The Heritage FoundationJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCSteve Elliott, President, Grassfire.orgJoseph Farah, CEO, Founder, WorldNetDailyFrank Gaffney, Founder and President , Center for Security PolicyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationRick Green, President, Torch of Freedom FoundationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessCliff Kincaid, President, America's Survival, Inc.Jennifer Marshall, Director of Domestic Policy Studies, The Heritage FoundationGary Marx, Executive Director, Judicial Confirmation NetworkRyan Messmore, William E. Simon fellow in Religion and a Free Soc, The Heritage FoundationJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Phyllis Schlafly, President and Founder, Eagle ForumChuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateLorianne Updike, President & Executive Director, The Constitutional Sources ProjectJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 6/16/2011 | Economy, Taxes
Senate Backs Repeal of Ethanol Tax Credit
Wall Street Journal
The Senate voted Thursday to repeal a $6 billion tax credit for ethanol producers, a move that could signal the end of some federal subsidies as part of an eventual budget and debt-ceiling compromise.
Most Democrats and a number of Republicans supported an end to the subsidy, in a 73-27 vote. The subsidy gives refiners a 45-cent-a-gallon tax credit for blending ethanol into gasoline and has been a factor behind higher corn prices in recent years. Sen. Chuck Grassley (R., Iowa), a longtime supporter of the credit, objected to the measure that would end the subsidy.
The U.S. ethanol industry is protected by a tariff of 54 cents a gallon on imported ethanol and that, too, would end under the Senate measure.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 6/15/2011 | Economy, Environmental Issues, Taxes
Senate to Vote on Repealing Ethanol Tax Credits
Associated Press
With lawmakers desperately working to shave federal budget deficits, the Senate is debating a measure to eliminate ethanol tax credits that pay the oil industry $5 billion a year. The biggest defenders of the subsidies, however, include farm belt conservatives leading the charge for less government.
Sen. Tom Coburn, R-Okla., is forcing a vote on a measure Tuesday that would repeal the credits. Coburn says they are wasteful subsidies for an industry that no longer needs them.
"The days of placing spending programs in the tax code and giving them holy status are over," Coburn said. "Ethanol is bad economic policy, bad energy policy and bad environmental policy."
Coburn's measure is supported by conservative groups such as the Club for Growth and environmental groups such as the Sierra Club.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 6/8/2011 | Economy, Taxes
Rich Libs Want Higher Taxes On Millionaires, But Won't Donate Own $$$ to Pay U.S. Debt
CNS News
A group of self- described liberal millionaires seeking to raise taxes on the top 1 percent of America’s population, refused -- when questioned by CNSNews.com -- to consider making donations themselves to a Treasury Department Web site that allows the public to make contributions to help pay down the public debt.
The “Patriotic Millionaires" group held a conference call on Monday in advance of the10th anniversary of President George W. Bush's tax cuts to encourage President Barack Obama and Congress to raise taxes for Americans who make $1 million or more annually.
CNSNews.com asked the liberal millionaires this question: “The Treasury Department has a Web site -- pay.gov -- where anyone who wants to can make a contribution at any time to pay down the federal debt. Are you willing to make a contribution to pay down the debt and, if so, how much would it be?”
Dennis Mehiel, the principal shareholder and chairman of the board of U.S. Corrugated, called the notion that he and his fellow millionaires would consider donating some of their millions to the Treasury Department to help eliminate the deficit “preposterous on its face.”
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 4/15/2011 | Illegal Immigration, Taxes
Why illegals anticipate April 15
OneNewsNow
While Congress wrangles over what to cut from the government's spending, one economic consultant says the Internal Revenue Service is refusing to take steps to prevent $13 billion from being doled out to illegal aliens every year.
As millions of Americans brace themselves to pay taxes this month, Ed Rubenstein, president of ESR Research and former research director at the Hudson Institute, says millions of illegal aliens get ready to celebrate receiving a cash bonus of up to $5,750 from the IRS.
In his recently updated report, "Defrauding the American Taxpayer - The Earned Income Tax Credit," Rubenstein explains how illegal aliens are among the chief beneficiaries of the $62.5 billion transfer scheme known as the Earned Income Tax Credit, which is part of the tax code.
"If your income is below a certain amount, and if you have children, you are entitled to a tax credit that in many cases is larger than the total amount of taxes that you paid to the federal government," Rubenstein reports. "Right now, it is the most expensive cash transfer program in the federal government."
And he points out that more than half of the people who claim the income tax credit are illegal aliens.
Recommended Guests:
David Bossie, President, Citizens UnitedDemos Chrissos, Writer/Producer, RapidResponse Media, Inc.Jessica Echard, Executive Director, Eagle ForumJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCSteve Elliott, President, Grassfire.orgJoseph Farah, CEO, Founder, WorldNetDailyColin Hanna, Colin Hanna, President, Let Freedom Ring USAJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)12/7/2010 | Economy, Taxes
Tax cut deal and surprise stimulus - the cost
CNNMoney.com
The compromise on the Bush tax cuts announced Monday night between President Obama and Republicans could cost between $700 billion and $800 billion if ultimately signed into law as is -- no sure thing given opposition from many Democrats. About half of the measures in the announced package might be considered new short-term stimulus, meaning they may add to the deficits for two more years, but could help maintain the economic recovery and help spur economic activity and job creation.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 11/3/2010 | Economy, Governmental Control, Taxes
Business Looks to Republicans to Block Rules, Taxes
Bloomberg.com
The Republican victories in Congress mean U.S. companies from Goldman Sachs Group Inc. to Wellpoint Inc. may be able to weaken or block what they consider President Barack Obama’s anti-business policies on health care, the environment, taxes and financial reform.
Republicans retook the House of Representatives yesterday with a gain of at least 60 seats, their biggest increase since 1938. The party will use its first majority in the House since 2006 to try to eliminate funding for parts of Obama’s health care bill opposed by business as well as curb regulations and government spending, Jay Timmons, senior vice president of the National Association of Manufacturers, a Washington-based lobbying group, said in an interview before the election.
“Americans voted for jobs and economic growth” and “resoundingly rejected” Obama policies, Thomas Donohue, president of the U.S. Chamber of Commerce, the biggest business lobbying group, said in a statement last night.
Republicans also scored a net gain of at least six seats in the Senate, though Democrats retained control of that body.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteTom DeLay, Former House Majority Leader, United States House of RepresentativesWilliam Devlin, Senior Pastor-Manhattan Bible ChurchChuck Donovan, Senior Research Fellow-DeVos Center for Religion a, The Heritage FoundationJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCSteve Elliott, President, Grassfire.orgJoseph Farah, CEO, Founder, WorldNetDailyFrank Gaffney, Founder and President , Center for Security PolicyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationRick Green, President, Torch of Freedom FoundationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessCliff Kincaid, President, America's Survival, Inc.Jennifer Marshall, Director of Domestic Policy Studies, The Heritage FoundationGary Marx, Executive Director, Judicial Confirmation NetworkRyan Messmore, William E. Simon fellow in Religion and a Free Soc, The Heritage FoundationJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Phyllis Schlafly, President and Founder, Eagle ForumChuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateLorianne Updike, President & Executive Director, The Constitutional Sources ProjectJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 10/27/2010 | Economy, Taxes
Employers in U.S. Start Bracing for Higher Tax Withholding
Bloomberg.com
Employers in the U.S. are starting to warn their workers to prepare for slimmer paychecks if Congress fails to vote on an extension of Bush-era tax cuts.
“I’ve been doing payroll for probably close to 30 years now, and never have we seen something like this where it gets that down to the wire,” said Dennis Danilewicz, who manages payroll services for about 14,000 employees at New York University’s Langone Medical Center. “That’s what’s got a lot of people nervous. All we can do is start preparing communications with a couple of different scenarios.”
Lawmakers won’t start debating whether to extend the cuts, which expire Dec. 31, until after the Nov. 2 elections. Because it takes weeks to prepare withholding schedules, the Internal Revenue Service will probably have to assume the cuts will expire and direct employers to increase payroll deductions starting Jan. 1, experts say.
Recommended Guests:
Barry Asmus, Senior Economist, National Center for Policy AnalysisDavid Bossie, President, Citizens UnitedDan Celia, Host, "Financial Issues Live" Radio ProgramPhil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.Ward Connerly, Author/Founder and Chairman, American Civil Rights InstituteWilliam Devlin, Senior Pastor-Manhattan Bible ChurchJames Edwards, Cofounder, Olive, Edwards, & Cooper, LLCJoseph Farah, CEO, Founder, WorldNetDailyJames Gelfand, Senior Manager of Health Policy, U.S. Chamber of CommerceLou Giuliano, Chairman, President and Chief Executive Officer (r, ITT CorporationColin Hanna, Colin Hanna, President, Let Freedom Ring USALowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.Larry Hunter, President, The Social Security InstitutePhillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of BusinessJoe Murray, Columnist, The BulletinGrover Norquist, President, Americans for Tax Reform (ATR)Chuck Stetson, Co-founder and Managing Director, PEI FundsTony Strickland, Taxpayer AdvocateJohn Weiser, Board Member, Westminster Theological Seminary , In Medias ResSam Rohrer, President of the Pennsylvania Pastors’ Network , Pennsylvania Pastors’ Network 9/14/2010 | Healthcare, Taxes
Senate Fails to Repeal Tax Provision in Health Law
Associated Press
The Senate has failed to repeal a tax provision of the new health care law that even the White House isn't happy with.
Tucked into the law is a requirement that businesses file tax forms called 1099s for every vendor that sells them more than $600 in goods. Business groups say it would create a paperwork nightmare for more than 40 million companies.
The procedural vote was defeated 46-52 and came on an amendment by Sen. Mike Johanns, R-Neb., that would have repealed the reporting provision. But it fell short of a required 60-vote majority. Lawmakers have been unable to agree on how to fill a $19 billion revenue gap from repealing the requirement.
The rule goes into effect in 2012.
Recommended Guests:
Michael Barry, Director of Pastoral Care, Cancer Treatment Centers of America in Phila.Karl Benzio, Founder and Executive Director , Lighthouse NetworkTwila Brase, President and Co-founder, Citizens' Council on Health FreedomMarjorie Dannenfelser, President and Chairman of the Board, Susan B. Anthony ListColin Hanna, Colin Hanna, President, Let Freedom Ring USAGrover Norquist, President, Americans for Tax Reform (ATR)8/27/2010 | Healthcare, Taxes
States Press Workers on Health Care
Wall Street Journal
As state and local governments push to get employees to pick up more health care costs, some employees are pushing back.
On Thursday, a Michigan judge heard arguments in two of three lawsuits filed by public-school unions and retirees who opposed a new law that for the first time required them to contribute toward their health-care benefits.
Michigan is among several states struggling with record budget deficits that want employees to take on a greater share of the burden of ballooning health-benefits costs.
The states' search for financial options come amid a growing awareness of the gap in benefit contributions between public and private employees. A handful of states have made changes this year, including Kentucky, Connecticut and Texas, and they join a growing number of governments that have cut health benefits in recent years without major challenges.
Recommended Guests:
Michael Barry, Director of Pastoral Care, Cancer Treatment Centers of America in Phila.Karl Benzio, Founder and Executive Director , Lighthouse NetworkTwila Brase, President and Co-founder, Citizens' Council on Health FreedomMarjorie Dannenfelser, President and Chairman of the Board, Susan B. Anthony ListColin Hanna, Colin Hanna, President, Let Freedom Ring USAGrover Norquist, President, Americans for Tax Reform (ATR)7/19/2010 | Healthcare, Taxes
Step Right Up and Get Your Free Health Care...
CNS News
The Obama administration on Wednesday issued regulations requiring new, private health plans to cover preventive services without charge -- no co-payments, deductibles, or coinsurance. The free preventive services will include counseling to quit smoking and "counseling to address obesity and help children maintain a healthy weight."
The new rules requiring free, preventive health care will give Americans easier access to services such as blood pressure, diabetes, and cholesterol tests; many cancer screenings; routine vaccinations; pre-natal care; and regular wellness visits for infants and children, the Health and Human Services Department said in a news release.
First Lady Michelle Obama and Jill Biden, the vice president's wife, joined Health and Human Services Secretary Kathleen Sebelius in announcing what Mrs. Obama called "an unprecedented step."
Recommended Guests:
Michael Barry, Director of Pastoral Care, Cancer Treatment Centers of America in Phila.Karl Benzio, Founder and Executive Director , Lighthouse NetworkTwila Brase, President and Co-founder, Citizens' Council on Health FreedomMarjorie Dannenfelser, President and Chairman of the Board, Susan B. Anthony ListColin Hanna, Colin Hanna, President, Let Freedom Ring USAGrover Norquist, President, Americans for Tax Reform (ATR)7/13/2010 | Taxes
Not taxpayers' task to finance oil spill cleanup
OneNewsNow
A national grassroots organization is outraged that Democrats in Congress are pushing a bill that would raise taxes to pay for the cleanup of the Gulf oil spill.
Throughout the current oil spill crisis, President Obama has repeatedly promised taxpayers that BP would be held responsible for cleaning up the oil spill and would "pay every dime" of related damages.
But Phil Kerpen, vice president for policy at Americans for Prosperity, reports that new legislation -- called "restoring Oil Spill Liability Trust Fund solvency" -- is moving through Congress. The measure would force hard-pressed U.S. taxpayers to foot the BP spill bill through an $18.3 billion tax hike on gasoline, diesel fuel, and heating oil. He contends that at the very least, "one way or another" Americans are being "deceived."