Deep dives into tax policy — the laws, proposals, and reforms shaping the tax code, explained without the jargon.
NOTE: This is from 2008. Welcome to my fourth in a series on state taxes! For information about what I’m trying to do, read my introductory bit. Next on the agenda, the bane of every elementary aged school child when it comes to spelling: Arkansas! ARKANSAS Population: 2,834,797 (32nd) Capital: Little Rock Largest City: Little…
I don’t get folks some times. All you hear anymore is how we don’t want more government… And then the National Retail Federation, which claims to be the world’s largest retail organization, goes and asks for more government. Let me back up. The NRF has asked President Elect Barack Obama to include a national sales…
Okay, so maybe they didn’t say it quite like that… But farmers in Minnesota are taking it that way. A program in Minnesota called the Green Acres Program was supposed to offer property tax relief to farmers in the state, much like programs in other states. In Pennsylvania, for example, there is a similar “Clean…
Governon Paterson raised quite a stir after he suggested a “fat tax” to raise revenue combat obesity. But that may not be the most controversial local tax measure to make news this December. Rep. Darryl Rouson, a Democrat from St. Petersburg, Florida, has proposed House Bill 99 to add a “surtax of 5 percent” on…
Following in the footsteps of Alabama and countries like the UK, the state of New York is considering imposing a so-called “fat tax.” While each municipality is a little different, the New York proposal would slap an 18% tax on sodas and sugar-filled drinks which contain less than 70% real fruit juice. The official position…
It’s Fix the Tax Code Friday! Earlier this week, the Philadelphia Inquirer ran an article about an issue that has been on the minds of many local taxpayers as the city prepares for major cuts in services: real estate tax abatement. Many municipalities – from major metropolitan areas like Philly and NYC to smaller towns…
In a surprise move, the Bush administration has indicated that it might use taxpayer dollars previously earmarked for banks through the Troubled Asset Relief Program or TARP, to save the Big 3 automakers. No, no, don’t read it again. You got it right the first time. The White House had initially said “no way” to…
When Forbes magazine President and CEO Steve Forbes called Treasury Secretary Henry Paulson “the worst treasury secretary we’ve had in modern times,” it made for some good chuckles on late night television, but not many people seemed to pay attention. I have a feeling that will be changing. Paulson keeps changing his mind, it seems,…
It’s Fix the Tax Code Friday! This week, I’m focusing on taxes, budgets and earmarks. There has been some good discussion about whether Melissa Etheridge’s plan to boycott paying taxes in California in response to Proposition 8 is appropriate. So, I’ll take it a step further. Today’s Fix the Tax Code Friday question is: Should…
Remember when YOU saved Fannie Mae and Freddie Mac? Well, apparently your generosity knows no bounds. In response to taxpayer demands, the Justice Department is currently investigating whether there was any wrong doing leading up to the collapse of the mortgage industry. And naturally, executives at companies like Fannie Mae and Freddie Mac are scrambling…