Blog Archives
Taxes on some wealthy French top 100 pct of income: paper | Reuters
via Taxes on some wealthy French top 100 pct of income: paper | Reuters.
(Reuters) – More than 8,000 French households’ tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data.
The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros ($1.67 million).
President Francois Hollande’s Socialist government imposed the tax surcharge last year, shortly after taking office, to offset the impact of a rebate scheme created by its conservative predecessor to cap an individual’s overall taxation at 50 percent of income.
The government has been forced to redraft a proposed bill to levy a temporary 75 percent tax on earnings over 1 million euros, which had been one of Hollande’s campaign pledges.
The Constitutional Council has judged such a high rate of taxation to be unfair, leaving the government to rehash it to hit companies rather than individuals.
Since then, a top administrative court has determined that a marginal tax rate higher than 66.66 percent on a single household risked being considered as confiscatory by the council.
Les Echos reported that nearly 12,000 households paid taxes last year worth more than 75 percent of their 2011 revenues due to the exceptional levy. ($1 = 0.7798 euros)
(Reporting by Leigh Thomas, Editing by Mark Trevelyan)
Related articles
- Taxes on some wealthy French top 100% of income (wnd.com)
- Taxes on some wealthy French top 100 pct of income: paper (news.terra.com)
- Taxed More Than Their Income? (huffingtonpost.com)
Democrat Maryland Governor Taxes The Rain
Can you believe this?
Maryland Democratic Governor Martin O’Malley has instituted a tax on citizens for the amount of rain that falls on their property. The tax, officially known as a “storm water management fee,” will be enforced in nine of the state’s counties. The state legislature passed it in 2012 purportedly to “raise revenue to cleanup [sic] the Chesapeake Bay,” according to MarylandReporter.com.
http://www.breitbart.com/Big-Government/2013/04/10/Maryland-governor-taxes-rain
40 Obama White House Aides Owe the IRS $333,000 in Back Taxes :: Minute Men News
40 Obama Aides Owe the IRS $333,000
President Obama has done a lot of talking the last year about Americans paying their fair share of taxes.
Just do as I say, not as my staff does.
I am not a Dic-tator
A new report from the Internal Revenue Service has just revealed that 40 of Obama’s White House aides owe their employer, the federal government, a total of $333,485 in back taxes.
This is the third straight year that the chief executive of the United States has been unable to get his own staff members to keep up with a citizen’s legal income tax obligations. to the tune of hundreds of thousands of dollars in back taxes owed. All this while Obama has made such rhetorical hay about corporations and the wealthy paying their fair share.
In its previous report the annual IRS audit accounting found that 36 of the Democrat’s White House aides owed $833,000 in back taxes. The year before it was 41 Obama staff members owing $830,000. In the past year Obama’s teleprompter has been on automatic pilot with oft-repeated demands that Americans and profitable corporate giants pay their fair share of taxes.
Because, as you may have heard him claim, Obama so wants to protect the middle class and we really need to pay down the national debt that he’s done so much to grow by 60% to $16.6 trillion in just the 1,511 days he’s been spending.
“America succeeds when everyone does their fair share,” Obama asserted in more than one speech, “when everyone plays by the same rules.” Uh-huh.
40 Obama White House Aides Owe the IRS $333,000 in Back Taxes :: Minute Men News.
CA Tax Revenues Continue to Drop Despite Voter-Approved Tax Increases
On Tuesday, California released a report that revealed state tax revenues have plummeted even further below Gov. Jerry Brown’s (D) estimates, even after residents voted to increase taxes via Proposition 30 in November’s elections.
At the end of November, “taxes were 3% short in the fiscal year that started in July,” which is “a gap of $936 million.” The state was 0.7% short a month before.
H.D. Palmer, a spokesman for the state’s Department of Finance, spun the poor numbers by saying Facebook‘s stock vested earlier than expected, and “boosted October taxes higher, while decreasing November revenue.”
But the report found that tax revenues were below estimates nearly across the board, as total “year-to-date revenues are $936 million below the initial forecast.”
According to the report, personal income tax revenues were “$827 million below the month’s forecast of $4.387 billion.” Sales and use tax receipts “were $9 million below the month’s forecast of $1.601 billion” and the year-to-date sales tax revenue was $8 million below forecast.
Not surprisingly, corporate tax revenues were also down, $175 million below the month’s estimate and year-to-date corporate tax revenues were $441 below estimate.
As more of California’s taxpaying residents and businesses flee the state due to its burdensome taxes and regulations, California’s government loses out on their tax dollars. Meanwhile, the state government continues to spend more on various programs even as the state has fewer taxpayers to pick up its tab.
Cigarette Tax Evasion Remains Rampant in New York
The state is losing $1.7 billion in tax revenue as well as 6,700 jobs, according to a New York Association of Convenience Stores report.
ALBANY – Chronic cigarette-tax evasion continues to cost New York State at least $1.7 billion a year in tax revenue and 6,700 jobs, according to a new report from the New York Association of Convenience Stores (NYACS).
Commissioned by NYACS, the economic study by John Dunham & Associates determined that in 2011, one of every two packs of cigarettes consumed in New York State escapes collection of New York State taxes. “This is further proof that New York, which has the highest cigarette excise tax in the nation, continues to suffer the corrosive economic and fiscal effects of the worst cigarette tax evasion in the nation,” said NYACS President James Calvin in a press release.
“This epidemic costs our state and local governments hundreds of millions of dollars in tax revenue annually, deprives tax-collecting retailers of legitimate business, and siphons away private-sector jobs,” he said. “Moreover, it undermines the public health policy goal of deterring smoking.”
The report found that in 2011, New Yorkers purchased 384 million packs of cigarettes from other states, Indian reservations, duty-free shops, and military bases. If New York State tax had been collected on all of these purchases, it would have generated $1.67 billion in tax revenue. The actual tax-loss figure is probably even higher, because this estimate excludes black-market and counterfeit cigarettes, which are becoming more prevalent.
If all cigarettes consumed in New York State were purchased in state from tax-collecting sources, it would generate an additional 6,776 jobs and an additional $257 million in wages. New York State’s cigarette excise tax rate is $4.35 per pack, by far the highest in the nation, and 31% to 63% higher than surrounding states, making cross-border purchases lucrative. Tribal stores continue to sell cigarettes to non-Indian customers tax-free in defiance of New York State law. There is a huge flow of smuggled product from Virginia and other distant, low-tax states.
http://www.nacsonline.com/NACS/News/Daily/Pages/ND1214122.aspx
Raising the cigarette taxes are sure working out, eh?
IRS loses challenge to prove tax liability
The Internal Revenue Service has lost a lawyer’s challenge in front of a jury to prove a constitutional foundation for the nation’s income tax, and the victorious attorney now is setting his sights higher.
“I think now people are beginning to realize that this has got to be the largest fraud, backed up by intimidation and extortion and by the sheer force of taking peoples property and hard-earned money without any lawful authorization whatsoever,” lawyer Tom Cryer told WND just days after a jury in Louisiana acquitted him of two criminal tax counts.
And before you consign him to the legions of “tin foil hat brigades” who argue against paying taxes, and then want payment to explain how to do that, he addresses the issue up front.
“These snake oil peddlers have conned millions of dollars out of many well-intended patriots and left a trail of broken lives in their wake. … These charlatans should be avoided, not only because they will lead you to bankruptcy and prison, but because by association they discredit those who are telling the truth,” he said.
The truth, he said, is where he comes in, with the launch of a new Truth Attack website that is intended to build on his victory, and create a coalition of resources to defeat – ultimately – the income tax in the United States.
 The logo for the new Truth Attack campaign against income taxes |
Although the legal citations in the case tend to run the length of paragraphs, Cryer told WND the underlying issue is not that complicated. Essentially, he argued that income is not necessarily any money that comes to a person, but rather categories such as profit and interest.
He said the free exchange of labor for compensation has been upheld as a right by the Supreme Court, but that doesn’t necessarily make the compensation income.
If ever such an argument were to be presented widely, Cryer said, the income to the federal government would plummet. But not to worry, he said, the expenses could be reduced equally by eliminating programs, departments and agencies that also have no foundation in the Constitution.
“The Founding Fathers intentionally restricted the taxing powers of the new federal government as a measure of restraint on its size. By exceeding that limited taxing authority the federal government has been able to obtain resources beyond its intended reach, and that money has enabled the federal government to exceed its authority,” he said.
For example, he said, the Constitution does not empower the federal government to regulate education, or employment, and agriculture, yet it does so.
OWN IT: Top 5 States to be Hit Hardest by 2013 Tax Increases — Supported Obama!
Sandy-Ravaged New Jersey Families Face $6,933 Tax Hike in Fiscal Cliff Stalemate
via CNS News
(CNSNews.com) – Families in Hurricane Sandy-ravaged New Jersey will face the highest tax increase as a percentage of their income – 6.82% or about $6,933 more in taxes — if Congress does not reach an agreement on the fiscal cliff tax issues during the lame-duck session, according to an analysis by the Tax Foundation.
[...]
Top Five Tax Increases | Tax Increases as % of Income
#1 – New Jersey $6,933 6.82%
#2 – Maryland $7,194 6.74%
#3 – Connecticut $6,653 6.62%
#4 – Massachusetts $6,632 6.53%
#5 – New Hampshire $5,660 5.81%
Forty states would see tax increases between $3,000 and $3,999. Six states would see an increase between $4,000 and $4,999 and three would see increases between $6,000 and $6,999.
MORE . . .
Related articles
- Sandy-Ravaged New Jersey Families Face $6,933 Tax Hike in Fiscal Cliff Stalemate (cnsnews.com)
- 5 pro-Obama states hit hardest by tax hikes (wnd.com)
- NJ, MD, CT Residents Would See $6,000+ Tax Increases In Fiscal Cliff Impasse (politic365.com)
- The Many Ways Your Taxes Could Go Up in 2013 (Even If You’re Not Rich) (business.time.com)
CA Implements Cap and Trade Tomorrow
via breitbart
Beginning Wednesday, the state of California will implement a “cap and trade” system designed to curb carbon emissions and cripple the state’s economy. Well, actually, it’s just designed to curb carbon emissions. Crippling the state economy is merely a nifty byproduct.
Now the Chamber of Commerce is suing the state, saying that the carbon trading system isn’t really a trading system – it’s a tax, unconstitutional under state law. Of course, they’re correct. The state claims that the cap and trade system, which regulates how much companies can emit unless they pay the state extra cash – sort of like environmental indulgences – is just a big regulatory fee. Except that the state creates the necessity for the auction, and punishes you if you don’t take part. The state is looking to raise some $500 million to $1 billion. Which will pay for the union employees across the state for a few weeks.
About 600 companies fall under cap and trade. Companies will spend millions to comply. And they’ll lay off employees, involuting the economy and destroying the tax base. Well done, Jerry Brown!
Related articles
- CA Implements Cap and Trade Tomorrow (breitbart.com)
- Calif. Chamber of Commerce Sues to Invalidate Cap-and-Trade Auctions (blogs.kqed.org)
- California’s Cap-and-Trade Auction Starts Wednesday (hispanicbusiness.com)
