Income would no longer be taxed, and the IRS would be abolished. Sound too good to be true? Income taxes aren’t indigenous to the United States; in very early days, the federal government subsisted on tariffs. But aircraft carriers, V.A. health care, and air traffic control cost more now than [...]
Posts Tagged ‘taxes’
Biden’s political theater on gas prices
Biden is threatening “to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices,” CNBC reported on Monday, October 31, 2022 (read story here). This is political theater, nothing more, to make it look like he’s fighting high gas prices. It lacks [...]
The outrageous estate tax
Picture granny in her rocking chair on the sidewalk, her possessions piled on the curb, with a “For Sale” sign on a small bungalow behind a white picket fence. The storyline is she has to sell her house to pay estate taxes. The script doesn’t tell you who died. (Her husband?) It do[...]
Democrats want to raise taxes and cut yours
Democrats want to pay for their ambitious $3.5 trillion spending plan, which would remake America’s safety net, by raising taxes on wealthy people and corporations. See details here. Meanwhile, tax changes sought by House Democrats “would cut annual tax bills for Americans earning less t[...]
April 25th, 2021 - 2:00 pm § in Politics
Is Washington state tax reform finally coming?
Washington’s legislature is fixing to impose a capital gains tax on the “wealthy” to fund early childhood education and childcare programs. The bill has passed both houses, and the governor says he’ll sign it, but differing versions first have to be reconciled. (Read story he[...]
Why a wealth tax may be a bad idea
“A slew of Democrats on Capitol Hill” including Sens. Elizabeth Warren and Bernie Sanders have “proposed a 3% total annual tax on wealth exceeding $1 billion” and 2% on $50 million to $1 billion, The Hill reported on Monday, March 1, 2021. Read story here. The aim of the[...]
Unemployment recipients could face hefty tax bills, but help may be on the way
Millions of Americans survived on unemployment benefits last year. Now they owe taxes they can’t pay on those benefits. That’s because taxes weren’t withheld from the benefits. Why are unemployment benefits taxed in the first place? Because the father of “trickle down” economics co[...]
If your boss stops FICA withholding, you’ll still owe those taxes.
Yes, it’s complicated. It’s not what it seems. This article contains news with anti-Trump commentary. Companies can stop withholding FICA taxes for most workers on September 1, 2020, but don’t have to, and if they do, workers must pay those taxes by April 30, 2021, the IRS says. Re[...]
April 15th, 2019 - 1:07 am § in The Ave Scene
WA State ranks in the dismal 13 for worst taxes
Life magazine has rated WA state as among the 13th worst for tax burden. This puts the Evergreen States in a basket with Kansas, New York, Massachusetts and Texas. We come just one notch WORSE then Mississippi! Alaska, Delaware, Montana, Wyoming, and Nevada are the best five states in the U.S. w[...]
October 30th, 2018 - 9:18 am § in Misc.
I WILL VOTE YES ON I-1634
The measure, called the “Keep Groceries Affordable Act of 2018,” is being attacked from the left because, shock shock, the sweet beverage industry is spending millions to attack Seattle’s soda tax. Despite my core dislike of corpulent corporations, I am voting with the companies! The[...]