Fix The Tax Code Friday: Cigarette Tax
Today’s Fix the Tax Code Friday question is a reflection of the failed bill to fund insurance for children: Should smokers pay for the children’s health insurance bill with an increase in cigarette tax?
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Does Wal-Mart Want Your Child To Read?
Wal-Mart is the largest corporation in America, according to Fortune 500. According to Good Jobs First, Wal-Mart recently posted earnings of $350 billion in annual revenue and reported a profit of $11 billion (with a b). One thing is clear about Wal-Mart: they don’t like to spend money. My mom always said, “That’s how the…
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Suddenly, Being Financially Irresponsible Pays Off!
The House Ways and Means Committee has voted to permanently remove the income tax consequences for homeowners whose debt is partially forgiven by a lender after a foreclosure. The bill is likely to pass the House and Senate, and President Bush has already spoken publicly about his approval of the measure. Great. Now homeowners have…
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Giuliani & Romney Go At It
In case you missed the bickering, here’s a clip: (Author’s note: the video has since been removed.)
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Fix The Tax Code Friday: War Tax
Some members of Congress have proposed a “war tax” to fight the increasing costs of the wars in Iraq and Afghanistan. Opponents are crying “no more taxes” while others scramble to reconcile a budget spiraling out of control. So today’s question is: Should Congress impose a war surtax in order to pay for the war?…
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Fund Children’s Insurance On The Backs Of Smokers?
Okay, don’t get me wrong. I think that providing universal health care options for children should be a priority in our country. However, shifting the burden to smokers to avoid what is essentially a political fight (the “who will pay for it” argument going on between the President and the Senate) is just a bit…
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Fix The Tax Code Friday: Standard Deduction For Self-Employed
On Problogger yesterday, a few folks commented that the list of potential deductions for bloggers (one of many groups of self-employed persons) was too long or too complicated. Which made me think. It also leads me to today’s Fix the Tax Code Friday question: Should there be a separate standard deduction alternative for self-employed persons?…
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Did You Read…?
A number of folks who do not believe that there is a law that requires taxpayers to pay an income tax have left comments throughout the site, accusing me and other tax professionals of blind ignorance. Now, I don’t mind a sound difference of opinion or a good debate, but this is my blog and…
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Mom Always Used To Say
That life is not fair. Apparently Wandering Tax Pro agrees with her, at least when it comes to paying taxes. Do you think our tax system is “fair”?
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Do You Owe Uncle Sam For Reading This?
Not right now. But there’s a chance that you might in the future: the moratorium on an internet tax expires November 1. The moratorium is sometimes referred to as the Internet Tax Freedom Act, or ITFA. ITFA has been extended twice since 1998. It bans taxes on certain internet transactions at the federal level but…