This week, both the feds and states have been struggling with the idea of balancing the budget by making cuts or increasing taxes. Today’s Fix the Tax Code Friday question is: If you had to choose, would you rather see tax increases or spending cuts? If “spending cuts” is your answer, are there any cuts…
It’s Fix the Tax Code Friday! News reports continue to focus on the death of Michael Jackson, his memorial, and his funeral. Enormous amounts of public resources have been dedicated to policing the memorial service, keeping Jackson’s family away from the press, and investigating Jackson’s “alleged” drug use. Comparisons have been drawn to other public…
It’s Fix the Tax Code Friday! Over the past few weeks, I’ve reported on a number of industry-specific tax credits offered to businesses, including tax credits for the tech industry and for the movie industry. Reports have been mixed as to whether these credits produce any results. I’m interested to know what individual taxpayers think….
Earlier today, I posted that New Jersey’s amnesty program has been very successful – in fact, more than three times their estimates. Some of my colleagues have suggested a federal amnesty program might be a good idea, others believe that there might be abuse of such a program. What do you think? Today’s Fix the…
It’s Fix the Tax Code Friday! Earlier today, I posted a piece on the new ruling in the UK that Pringles, made mostly of things “other than potato” or not, would be considered a snack food that does not meet an exemption for purposes of sales tax/VAT. In many countries, states and municipalities, foods are…
It’s Fix the Tax Code Friday! Remember that study that I cited from the Tax Foundation earlier in the week? That same report offered another statistic. In 2007, the cost of balancing the budget would have cost each taxpayer an additional $1,789 in taxes. This year, due to “the bailouts and the Troubled Asset Relief…
It’s Fix the Tax Code Friday! This week, I’ve been researching federal energy tax credits for an Earth Day post that I’m writing (yes, I’m aware that Earth Day is long gone – wait for the post, you’ll get it). I’ve been intrigued to see the reactions on both sides of the aisle about tax…
It’s Fix the Tax Code Friday! Earlier in the week, we took a peek at the UK’s planned tax increase for its wealthiest taxpayers, something that the US has been struggling with over the last year. Proponents of increasing the tax on the wealthy argue that they have more ability to pay – and that’s…
It’s Fix the Tax Code Friday! And it’s been a long tax week for many of us. So, with tax returns fresh on your mind, I thought I’d ask my readers the same question that I ask my GTKYT tax pros: If you had the opportunity to make one change in the tax code tomorrow…
It’s Fix the Tax Code Friday! This week, my post about a national sales tax on online sales was all in jest for April Fool’s Day. But it caught some folks off guard because it really could happen. Proponents say that a national sales tax would increase revenue by taxing consumption rather than income. Critics…