From the category archives:

politics

Taxpayers Suggest Resolutions for Congress in 2012

1 January 2012

It’s the New Year and sadly, the same old Congress. With that in mind, I thought that Congress could use a little help with their New Year’s resolutions for 2012, so a couple of days ago, I posed this question on my blog: What’s on your tax and financial #wishlist for Congress in 2012? Here’s [...]

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Congress Needs Some Advice in 2012

30 December 2011

The New Year is almost here! And Congress is still, well, Congress. Clearly, they need a little direction for 2012 so I thought I’d ask you, my readers, what you hope to see happen next year and we’ll make a contest out of it. So since Congress is so fond of pork… the prize is [...]

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What You Can Buy With Your Payroll Tax Cut From Congress

25 December 2011

After all of the drama, Congress managed to push through a payroll tax cut extension just before the holidays. The payroll tax cut was extended for two months, saving the average taxpayer a grand total of $166. These days, that won’t get you very far. Depending on where you live, it works out to: 43 [...]

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Payroll Tax Cut Bill Includes New ‘Recapture’ Tax for the Wealthy

23 December 2011

So now that the payroll tax cut has been extended for two months, what does that mean for taxpayers? Well, even though the collective wisdom is that Congress will hammer out a longer term deal, the IRS gets to play a game of “let’s put a bunch of provisions in place within the space of [...]

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Congress Takes a Holiday, Passes Payroll Tax Cut Extension Anyway

23 December 2011

Congress may be on holiday but they still managed to get something done. And by something, I mean nothing. But they want to pretend that they did something so we’ll let them have their moment. The House and the Senate passed a bill that would extend the payroll tax cuts for a lousy two months. [...]

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Boehner Claims Compromise on Payroll Tax Cut Extension

22 December 2011

As if we didn’t need further evidence that Congress is phoning it in these days … House Speaker Boehner (R-OH) backtracked Thursday afternoon and announced a “compromise” two-month extension of the payroll tax cut, two days after the House voted to reject it. Let me break this down for you. First, to the average taxpayer, [...]

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Congress to Taxpayers: We Give Up

21 December 2011

For the second time in so many months (remember the debt ceiling deadline debacle?), Congress has thrown up its hands and walked away. After failing to reach a workable compromise on the payroll tax cut extension, members of the House left town for the holidays. The payroll tax cuts are set to expire before the [...]

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Monday Night Vote Lessens Chances of Payroll Tax Cut Approval

20 December 2011

The payroll tax cut extensions are going nowhere fast… A vote last night by Republicans on the House rules committee will prevent a direct vote today on the Senate plan to extend the cuts by a ridiculous two months. So if you were looking for an update, go about your business today, there’s nothing to [...]

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Reid Holds Up Discussions On Payroll Tax Cut Extension

19 December 2011

I was hoping to report that the Senate had taken up the payroll tax cut extension issue today and tossed out the ridiculous plan hatched last week for a two month extension. But, no. Sen. Majority Leader Harry Reid (D-NV) has indicated that the Senate will not take up the matter until the House passes [...]

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Boehner Pushes for One Year Extension on Payroll Tax Cuts

18 December 2011

It’s not often that you’ll see me lauding House Speaker [entity display="John Boehner" type="person" active="true" key="john-boehner"]John Boehner[/entity] (R-OH) as the voice of reason but here it is: the man is one of just a handful in Congress making some sense with respect to these payroll tax cuts. Speaker Boehner is pushing for a full year [...]

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