Live Blog: Election Day 2016
It’s Election Day 2016. I’ll be live blogging the election all day. Here’s what you can expect: info about where to vote and when to vote, as well as election results.
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What Matters Most When It Comes To Tax Reform? Hint: It's Not Control Of Congress.
Last night, the elections signaled a power shift in Congress. With Republicans controlling both houses, does that mean tax reform is on the way? Here’s why, historically, it’s not control of Congress that matters: it’s something else.
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Guest Post: History and the Bush Tax Cuts
This week, I’ve asked readers to chime in on the Bush tax cuts. This guest post is courtesy of “A citizen proud to pay his fair share of taxes” (for more on the topic, see the original post): In the 1980’s the social security fund and the general fund were combined to make the deficits…
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Hope Credit & The American Opportunity Tax Credit
The Hope Credit is one of a couple of tax credits for education. It was signed into law under President Clinton as part of the Taxpayer Relief Act of 1997. Since 1997, the amount of the credit has been tweaked, ultimately resulting in the American Opportunity Tax Credit, which was signed into law last year…
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Would A Gas Tax Holiday Help… Or Hurt?
Both McCain (GOP) and Clinton (Dem) have called for a temporary suspension of the federal gas tax – or a gas tax holiday – for the summer in response to higher gas prices. Obama has so far not endorsed such a move. There is currently a 18.4 cent federal tax imposed on each gallon of…
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McCain Releases Tax Returns, Sort Of
It’s 2004 all over again. A presidential candidate has released his own tax returns – but not that of his spouse. The GOP cries… ok? Yep. This week, Sen. John McCain and Republican presidential candidate released his 2007 tax returns – without information about his wife. Cindy McCain filed separately, something that they have continued…
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Presidential Candidates: Where Do They Stand On Taxes?
This week – in the midst of a busy tax season – I wrote a guest post for One Vote Matters. It’s a quick and dirty summary of where the presidential candidates stand on tax issues. You can read the entire post here.
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How Much Money Do You Need To Make To Be President?
Democratic presidential candidate Barack Obama has released his tax return for the 2007 tax year showing that together with his wife, the Obamas earned $4.2 million. A whopping $4 million of that income was in the form of royalties from the sale of his books. Other income includes Obama’s Senate salary of $157,102 and $103,633…
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Obama Releases Tax Returns, Challenges Clinton To Do The Same
Democratic presidential candidate Barack Obama has released seven years of his tax individual returns this week. The Obama family reported income of $1.65 million in 2005 and nearly $1 million in 2006. During that same period, the family made $137,622 in charitable donations. Prior to 2005, the family seems to have a different financial picture….
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Clinton Benefits From 527 Groups
They made headlines in the presidential organization when a group of organized Republicans funded “Swift Boats for Truth” to launch a missive against Senator Kerry. 527 organizations are named after 26 U.S.C. § 527 – basically section 527 of the Tax Code (the Tax Code is Title 26). Generally, tax exempt organizations are not allowed…