Posts Tagged ‘income tax’


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Tax System Remains Punitive


Friday February 16th, 2018   •   Posted by K. Lloyd Billingsley at 9:28am PST   •   0 Comments

As we noted, the Republicans’ tax bill lowers the corporate rate from 35 to 21 percent and according to the New York Times it will cut taxes for about 75 percent of filers in 2018. That is good news for taxpayers, who would do well to consider realities that have not changed, such as…
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Taxoholism


Friday January 5th, 2018   •   Posted by K. Lloyd Billingsley at 3:39pm PST   •   2 Comments

The recently passed federal tax bill lowers the corporate rate from 35 to 21 percent, reduces rates in five of the seven tax brackets, and according to the New York Times will cut taxes for about 75 percent of filers in 2018. The bill also caps the amount of state taxes filers can deduct on their federal…
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Government Trickle-Down Trickery


Friday December 22nd, 2017   •   Posted by K. Lloyd Billingsley at 11:49am PST   •   0 Comments

The Republicans’ victorious tax bill lowers the corporate rate from 35 to 21 percent but is nothing approaching a flat tax because it retains, count ‘em, seven tax brackets. According to the New York Times it will cut taxes for about 75 percent of filers in 2018, but nobody should consider it a gift….
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Internal Revenue “Service” Surges from Horrible to Mediocre


Monday April 11th, 2016   •   Posted by K. Lloyd Billingsley at 10:47am PDT   •   0 Comments

In recent years the Internal Revenue Service has been targeting groups for extra scrutiny and abuse based on their political views favoring limited government, lower taxes and accountability. According to the President of the United States “there were some boneheaded decisions,” but “not even a smidgen of corruption” was involved. As we noted, IRS…
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Government Greed Gone Wild


Monday March 23rd, 2015   •   Posted by K. Lloyd Billingsley at 5:42am PDT   •   1 Comment

California’s Franchise Tax Board (FTB) says inventor Gilbert Hyatt owes $55 million in taxes. Hyatt says he’s the target of a vendetta, and as Dale Kasler shows in the Sacramento Bee, Hyatt has a strong case. In 1990 Hyatt was awarded the patent for the first single-chip microprocessor and earned $350 million in royalties….
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Labor Day Recalls Ruling Class Rip-offs


Monday September 1st, 2014   •   Posted by K. Lloyd Billingsley at 1:50am PDT   •   0 Comments

The federal holiday of Labor Day, the first Monday in September, is supposed to be a tribute to American workers. While enjoying a day off, if they get one – government employees do – those workers might use the occasion to recall some other realities, including a longstanding government rip-off. As we noted in…
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FATCA: A Surge of Seizure Fever


Monday July 7th, 2014   •   Posted by K. Lloyd Billingsley at 7:08am PDT   •   1 Comment

As we recently noted, Americans are still paying a heavy price for mistakes by the Internal Revenue Service. These include a “Seizure Fever” campaign that rewarded IRS employees based on how much money they had confiscated. The IRS also handed out billions in improper payments and fraudulent tax returns, paid millions in bonuses to…
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Withhold Applause for Unhappy Anniversary


Wednesday July 2nd, 2014   •   Posted by K. Lloyd Billingsley at 8:28am PDT   •   1 Comment

Seventy-one years ago, on July 1, 1943, the federal government first started withholding income tax from workers’ paychecks. For the first time, the government would get workers’ money even before the workers did. As a freerepublic blogger noted on the 60th anniversary, that’s not exactly an occasion for celebration. “Why is withholding so bad?…
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A Taxing Day


Friday April 25th, 2014   •   Posted by K. Lloyd Billingsley at 7:05am PDT   •   1 Comment

April 15, the deadline to file returns, looms large on the calendar of many Americans. That date, unfortunately, fails to give taxpayers the full picture of how much of their money government is taking. As the Tax Foundation explains that task falls to Tax Freedom Day, the day when the nation as a whole…
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Your Paycheck in 2011


Tuesday January 4th, 2011   •   Posted by Craig Eyermann at 10:37am PST   •   0 Comments

Compared to how January 2011 might have played out, where every taxpayer in the United States would have received a smaller paycheck if the 111th U.S. Congress hadn’t acted to extend the 2001 and 2003 tax cuts, the Congress’ late action to extend those tax rates for another two years, while also throwing in…
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