Tag Archives: tax code

American Companies Now Have More Money Overseas Than At Home

American Companies Now Have More Money Overseas Than At Home

For the first time ever, U.S. companies are holding more than $2 trillion overseas, which is more than they’re holding here in America, according to CNBC (emphasis mine): U.S. companies are for the first time holding more than $2 trillion overseas, according to an analysis that paints a bleak picture of whether that money will

Wonks Propose Taxing Calories

It seems America has a love affair with social engineering through the tax code. From “sin taxes” on things like booze and tobacco to tax deductions for things like buying a hybrid vehicle or installing solar panels, the politicians like to pull financial strings to manipulate our behavior. The latest idea in that vein is

Report: No Liberal Or Even Non-Partisan Groups Say They Were Targeted By The IRS

“Republicans are looking for a conspiracy where there isn’t one,” Rep. Jim McDermott said of the inquiry into the IRS scandal during a House Ways and Committee hearing earlier this week. And yet, according to McClatchy, not a single liberal or even non-ideological group has come forward to say they were mistreated by the IRS

IRS Not Sure If Asking Tea Partiers About The Contents Of Their Prayers Is Inappropriate

There’s so much coming out about the IRS scandal today that it’s hard to keep up with it all, but as the dust settles and we head into the weekend news cycle let this exchange during the Ways and Means hearing today serve as a case-in-point for just how disturbing this entire fiasco is. Rep.

Using The IRS To Manipulate Americans Isn't Anything New

“Taxes have morphed from a societal obligation into moral code,” writes David Harsanyi for Reason. “And our convoluted tax structure reflects this mindset, allowing politicians to favor trade and offer populist giveaways to solidify political power. Any simplification or flattening of that code would strip Washington of its most effective tool.” That’s a good point.

Why In The World Is The State Of North Dakota Raising Taxes?

The State of North Dakota’s financial situation is the envy of the nation. According to the most recent revenue report from the Office of Management and Budget, total state revenues biennium to date are running 64.7% above last biennium. To put that in numbers, the state has collected $1.6 billion more in taxes so far

Hoeven Was Having Dinner With The President While Rand Paul Filibustered

Senator Rand Paul got a lot of support from other Republicans last night when he filibustered President Obama’s CIA nominee over the refusal by the White House to clarify their position on assassinating US citizens. Not among those Republicans on hand to help out? Senator John Hoeven, who instead went to dinner with President Obama

Video: ND Democrat Says Tax Cuts Might Make The Economy Too Friendly For Business

Yesterday was a very interesting day in the North Dakota House. They were in floor session for something like seven hours, and considered a lot of very controversial bills. I thought I’d highlight a couple of the sillier comments that jumped out at me from all that talking. First, here’s Rep. Corey Mock, arguing against

Half Of Detroit Property Owners Didn't Pay Their Taxes Last Year

Wow. Detroit — Nearly half of the owners of Detroit’s 305,000 properties failed to pay their tax bills last year, exacerbating a punishing cycle of declining revenues and diminished services for a city in a financial crisis, according to a Detroit News analysis of government records. The News reviewed more than 200,000 pages of tax

ND House Votes Down More Tax Bills

Yesterday the North Dakota House voted down a number of tax bills, most notably one that would have suspended the state income tax for two years, and today another laundry list of tax bills got shot down. Here’s the kill list: HB1396, introduced by Rep. Kim Koppelman, would have required that any property sold in

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