Deep dives into tax policy — the laws, proposals, and reforms shaping the tax code, explained without the jargon.
The price of oil has increased, on average, $1/barrel over the past month. The result is that gas is likely to top $5/gallon at the pump this summer – compared to $2.80/gallon last year. What does this mean in pure dollars? According to the Energy Information Administration (from Department of Energy), the average American uses…
It’s Fix the Tax Code Friday! There’s been lots of discussion about the gas tax over the past few months, including on this blog. Today, we paid nearly $4/gallon to fill the tank of our Subaru Forester. It totaled nearly $50. A reprieve from the federal gas tax (18.4 cents per gallon) would have saved…
The House of Representatives unanimously passed bill H.R. 6081, the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008. The chief sponsor of the bill was Rep. Charles B. Rangel (D-NY). The revised HEART Act (previous versions of the bill have already passed the House and Senate) would allow thousands of active duty military…
This hasn’t been a great year for taxpayers. As the economy takes a dive, folks are growing more and more unhappy with the amount of taxes paid. And this year, in particular, watching the IRS botch rebate payments has made taxpayers even more angry. Wouldn’t it, I’m often asked, just be better to have a…
Colorado senator Ken Salazar, who bested Coors beer Pete Coors for his Senate seat in 2004, has been mocked for his ignorance of the US Tax Code. Salazar, a fifth-generation Colorado rancher, touted himself as a man of the people, claiming that he understood the struggles of the working class and would create jobs and…
A reader just passed along this letter from Bob Meighan at TurboTax that several folks have apparently already received: Dear Valued Customer, We want to provide you with the most up–to–date information about the tax rebate to which you may be entitled. Recently, you may have received a letter from the IRS advising you when…
More reading about manufacturing and the economy: Where do your things come from? Whose Economy Do Your Purchases Support? Made in the USA? Where do items for your home business come from? Made in the USA Fun Friday: Ode to a Chinese boycott Where Does Your STUFF Come From?
An overwhelming majority of Americans believe that the so-called economic stimulus plan – largely consisting of tax rebates – will not boost the economy. According to a poll conducted by CNN/Opinion Research Corp., a whopping 82% of Americans believe the stimulus package won’t work. This is up sharply from 70% of Americans who said the…
Have you ever heard of the “gas face”? Tisa, over at Talk Stock Trading, refers to a gas face as “a somewhat stressed look of displeasure induced by the pumping of expensive gas.” Yeah, we’ve all seen it. Since there’s been some interesting discussion on taxgirl.com about the gas tax (or gas tax holiday), I…
Check out this commercial about enforcing the car tax: I wonder whether commercials such as this are at all effective – or whether it’s just like those “Just Say No To Drugs” commercials that simply made folks feel better.