Topic: Daily Deduction

Huge Tax Returns, Huge Spending Problems

By :: February 11th, 2016

A Trump dump of tax returns will come soon, maybe… GOP presidential front-runner Donald Trump says he plans to release his “very big” tax returns “probably over the next few months.” He says he tries to pay as little as possible because of the way government spends his money. Speaking of government spending: Without very […]

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The President Punches Up

By :: February 10th, 2016

President Obama released a $4.1 trillion budget yesterday. TPC’s Howard Gleckman says the plan includes about $3 trillion in tax hikes over ten years, mostly to pay for new initiatives. These taxes include a $10 per barrel oil tax, a 19 percent minimum tax on future corporate income earned abroad, a 14 percent one-time levy […]

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Second Chances and Sweet Relief

By :: February 9th, 2016

For some: A new sign-up period for the Affordable Care Act. People who received  tax credits to subsidize their ACA coverage in 2014 were supposed to file returns that year to make sure their credit was the right amount. If they didn’t file, they would be ineligible for future credits starting this year. But because […]

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Budget Hearings, Saving, and Entertaining

By :: February 8th, 2016

The President’s budget will be out tomorrow. Will anyone notice? There is almost always something perfunctory about the last budget of an outgoing president, but this year’s will generate even less interest than usual. In the ultimate insult, the GOP-run congressional budget committees won’t even invite White House officials to describe their fiscal plan. There […]

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A Budget, Capital, Growth, and Transparency 

By :: February 5th, 2016

Last night’s debate was… an actual debate. Moderators barely spoke and Democratic candidates Hillary Clinton and Bernie Sanders explored (and tussled over, at times) a variety of issues… except for their tax plans. Maybe next time. The President releases his final budget next week, and would like a new tax on oil. He wants to boost […]

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Debates, Energy, Credits and Prep

By :: February 4th, 2016

There’s a Democratic debate tonight. It will now feature only two candidates. Brush up on Hillary Clinton’s and Bernie Sanders’ tax plans here. Clinton and Sanders have agreed to four more debates. The next one will be in Flint, Michigan, a city currently in a state-manufactured water crisis. Senate Finance Committee Democrats would like an […]

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Tax Changes, almost from Sea to Shining Sea

By :: February 3rd, 2016

Some Oregon Democrats propose an alternative state corporate tax hike. They want to raise an additional $1 billion from business over the next two-year budget cycle to fund public education and cut personal income taxes. Their bill would replace the state’s corporate income tax with a commercial activity tax of 0.39 percent on a business’s […]

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If you're not winning, you're... still running.

By :: February 2nd, 2016

Iowa voters surprise pollsters. Go figure. GOP candidate Ted Cruz won last night’s Iowa caucus, to the surprise of everybody, while Democratic candidate Hillary Clinton eked out a narrow victory, to the surprise of some. Does this mean Iowa Republicans like a value-added tax and Iowa Democrats want tax increases for the rich? In any case, […]

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Changing Behavior, Scamming the Vulnerable

By :: February 1st, 2016

Will the Google-UK tax deal change corporate behavior? UK Business Secretary Sajid Javid says  the government has closed over 40 tax loopholes but that more work needs to be done. He expects the Google deal—a settlement in which the firm will pay the UK $185 million in back taxes—will help change companies’ attitudes about taxation. […]

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No Trump, No Problem.

By :: January 29th, 2016

Last night’s Trump-less debate left nobody speechless. There was little spoken, however, on the tax front. Good thing TPC has a cheat sheet on all things tax-related for the 2016 election. Google might owe taxes in Italy, too. Italian authorities believe that Google owes $247.5 million in back taxes between 2009 and 2013 and may assess hefty punitive fines. […]

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