As his popularity continues to decline, President Bush has re-introduced legislation to extend his 2001 and 2003 or risk what he is calling “the largest tax increase in history.” Realistically, some of the cuts will likely be extended or made permanent – but not all. Bush claims, for example, that allowing the tax cuts to…
Oh politics. It’s all about being right, isn’t it? You know, rather than doing the right thing? President Bush vetoed the farm bill (the 190th veto of his presidency) claiming, rightfully so, that it was too expensive and would send too much in the way of subsidy to rich farmers. The House voted 316-108 to…
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…
The House of Representatives Ways and Means Committee approved a bill that would offer tax breaks to first-time home buyers. The proposal would allow first-time home buyers, within income limits, a refundable tax credit of up to $7,500 that would have to be repaid to the government over a period of fifteen years. The tax…
I have been highly critical of the proposed economic stimulus plan and the crazed rush to pass any bill just to have something in place. It’s bad tax policy, it’s bad economic policy and it’s just plain terrible politics. Thank goodness that the Republicans put the kibosh on a mad rush to pass a half-baked…
I try not to politicize too much on taxgirl.com but the circus that is Congress and the White House trying to agree on an economic stimulus plan is really getting out of hand. In a move that I can only categorize as half-baked, Treasury Secretary Henry Paulson issued a statement today urging the Senate to…
So what did President Bush have to say about taxes in his State of the Union speech? The following is an excerpt from the President’s speech: To build a prosperous future, we must trust people with their own money and empower them to grow our economy. As we meet tonight, our economy is undergoing a…
The proposed permanent internet tax ban did not take pass Congress this week. While this may despite a number of folks, it was not unexpected. What did pass was an extension of the moratorium that was set to expire Thursday. The House voted 402 to 0 to extend the ban for a period of seven…
You gotta love the way that Congress does (or does not do) business. With less than a week to spare before the expiration of the moratorium on an internet tax (sometimes referred to as the Internet Tax Freedom Act, or ITFA), there is still no plan. And in a very Congressional sort of way, Senators…