Revisiting a long-standing debate over the controversial tax, the Senate Finance Committee held a hearing where Chairman Max Baucus said he supports ending the estate tax, although he said he did not expect this to happen any time soon.
The Blackstone Group, the big buyout firm, has devised a way for its partners to effectively avoid paying taxes on $3.7 billion, the bulk of what it raised last month from selling shares to the public.
WASHINGTON – 501(c)(4) it’s the most potent little algorithm in politics right now.
A 501(c)(4) is the Internal Revenue Service term for a tax-exempt organization “primarily engaged in promoting in some way the common good and general welfare of the community.”
May 12, 2007
By BOB HERBERT
The United States may be the richest country in the world, but there are many millions — tens of millions — who are not sharing in that prosperity.
April 27, 2007
By PAUL KRUGMAN
One of the distinctive features of the modern American right has been nostalgia for the late 19th century, with its minimal taxation, absence of regulation and reliance on faith-based charity rather than government social programs. Conservatives from Milton Friedman to Grover Norquist have portrayed the Gilded Age as a golden age, dismissing talk of the era’s injustice and cruelty as a left-wing myth.
April 12, 2007, 9:44 pm
I got my tax bill this week.
Many of you probably did.
But then, some of you probably got it weeks or even months ago. Your checks are now neatly paper-clipped to your tax returns. Or maybe you’re not sending any checks; maybe you’re actually getting refunds.
If so, I fear, this column will be of no interest to you. But if you’re like anybody I know, well … read on. (more…)
[It’s not just for Iowans…]
“I was surprised to hear that a lot of taxpayers haven’t claimed the telephone tax refund so far,” Grassley said. “Taxpayers are entitled to it, and they should consider claiming it.” (more…)
If you are upset that Congress won’t defund the war in Iraq, there’s something you can do: Stop paying a tax. Legally.
By Amy Goodman
The Internal Revenue Service is giving a rebate this year on a telephone war tax. This is one of those line items at the bottom of your phone bill. The tax was instituted in 1898 to help the United States pay for the Spanish-American War. Individuals and businesses have one chance to obtain a refund on this telephone war tax, by asking for it in their 2006 income tax returns.
Last November, Washington state voters recognized the value of their state’s inheritance tax and voted to preserve it.
It’s the biggest untold economic story of our time: more of the nation’s bounty held in fewer and fewer hands. And Bush’s tax cuts are only making the problem worse
Income inequality grew significantly in 2005, with the top 1 percent of Americans — those with incomes that year of more than $348,000 — receiving their largest share of national income since 1928, analysis of newly released tax data shows.
January 22, 2007
By PAUL KRUGMAN
President Bush’s Saturday radio address was devoted to health care, and officials have put out the word that the subject will be a major theme in tomorrow’s State of the Union address. Mr. Bush’s proposal won’t go anywhere. But it’s still worth looking at his remarks, because of what they say about him and his advisers.