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It’s Time to Think about Taxes Once Again
16 hours ago ago from Tax Cures Reviews
Lowering your tax liability Industry analysts are predicting that a tangible change in the economy won’t be seen until mid-2010, but there are still some things you can do to lessen your tax liability this year. • Increase 401k contributions . Any money you are allowed to pay into a 401k lowers your tax liability. Taxpayers can add up to $ 16,500 if under 50 years of age, and $ 22,000 if over 50 years of age. There are still a few ...
Related contentA tax increase? Is he &%*!^%*# kidding me?!
1 hour, 13 minutes ago ago from The right-wing liberal
In a move that was best described by Norm at TQ (a rude gesture ), Tim Kaine is proposing to balance the budget with an income tax increase ( Washington Post ). Virginia Republicans, led by Governor-elect McDonnell ( WaPo ) are already busy tearing it apart, but one thing that has been lost is the damage an income tax does to incentives to work and invest. Especially in Virginia, which has a heavy technology sector, a tax that slwos down ...
Related contentWhy Do We Tax People Who Make More Money At A Greater Percent?
15 hours ago ago from Money Making Weblog | Wealth Creation and Business Opportunities
Why when people make more money they are punished by being in a different tax bracket and having to pay a higher percentage? Shouldn't it be a flat percentage rate to keep things fair? I don't understand why one persons success should lead to him or her being taxed more.
Related contentThe Tyranny of The Majority : Sherline's Opinionfest
19 hours ago ago from Sherline’s Opinionfest
When I was in high school in the 1940s, we were taught to believe that majority rule was best, that the function of government was to help us, that our system of justice was intended to be a “search for the truth.” These ideas were widely accepted as immutable truths. Today, over 60 years later, to my eye, they are no longer as true as we once thought. The cause may be directly attributable to our treasured democracy in action. That may sound ...
Related contentWant To Make Matters Worse?
20 hours ago ago from From On High
We are at a point in time when tax increases would crush any opportunity for a turnaround in the Obama economy here in Virginia. Yet Tim Kaine - Democrat - suggests just that - a massive tax increase - in the budget proposal he just sent to the legislature. He's leaving soon, right? Here's Lt. Governor Bill Bolling's response (from a press release) that I think is spot on: “In his budget the Governor has proposed spending reductions in ...
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Zero inflation impacts tax rates, government benefits and tax breaks
13 hours ago ago from Washington Post - Business
Tax rates, government benefits and tax breaks designed to keep pace with inflation through annual cost-of-living adjustments and indexing won't budge in 2010. You won't earn much on your savings, either. Welcome to the year of the un-COLA. -- No payroll tax boost. High-income workers, rejoice: The maximum amount of wages subject to Social Security taxes will remain at $106,800, the first time the index hasn't changed since 1971. The tax ...
Related contentLawmakers Weigh a Wall Street Tax
21 hours ago ago from Wall Street Journal
WASHINGTON Lawmakers are considering a financial-transactions tax that takes aim at Wall Street to help Main Street. But the tax could wind up striking others, too, including pension funds, commodity-dependent businesses, and even ordinary investors. Congressional advocates describe the new tax as a matter of fairness: Taxpayers bailed out Wall Street, so Wall Street must help rebuild the economy and shore up the government's shaky ...
Related contentUncertainty Swirls Around Estate-Tax Expiration
23 hours ago ago from Wall Street Journal
The possible expiration of the federal-estate tax has sent the normally staid world of estate planning into a frenzy of activity, as taxpayers try to cope with uncertainty. Without the old estate tax in place, some new rules will come into play, potentially forcing families to dig up decades-old records or face big tax penalties. Some other onerous taxes will lapse, potentially cutting bills by two-thirds on transfers to grandchildren. And ...
Related contentFederal estate tax remains in flux
20 hours ago ago from Washington Post - Politics
The federal estate tax is on course to be repealed for one year beginning in January, allowing heirs of large inheritances to temporarily escape the so-called death tax although a little-noted provision in the law would expose many smaller estates to higher tax liabilities. Senate Republicans blocked a Democratic attempt to temporarily extend the estate tax earlier this week, meaning that barring any unforeseen action the levy will ...
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