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Tax Breaks

Congress Lavishes Corporations With an Early Holiday Gift; Immigrant Taxpayers Get a Lump of Coal

NCLR Action Fund | Posted 12.22.2015 | Politics
NCLR Action Fund

Congress sent a $622 billion tax extender bill to the president's desk last week. While the bill provides hundreds of billions in corporate tax breaks and, on a smaller scale, much-needed relief for low and moderate income workers, millions of hardworking immigrant taxpayers have been left out in the cold.

Families Advance With Recent Tax Bill, But Corporations Got a Lot More

Frank Clemente | Posted 12.22.2015 | Politics
Frank Clemente

We have a long way to go towards the day when corporations routinely pay their fair share of taxes and families and communities get the public services they deserve. It may sound like a Christmas miracle today, but we can get there.

Congress Extends Many Expired Tax Breaks: Learn How You Could Benefit

Lisa Greene-Lewis, CPA | Posted 12.21.2015 | Business
Lisa Greene-Lewis, CPA

Just like the holidays, tax season seems to creep up before you know it. While you may be thinking creep is the only thing the holidays and taxes have...

When It Comes To Corporate Tax Breaks, Congress Stops Caring About The Deficit

The Huffington Post | Michael McAuliff | Posted 12.16.2015 | Politics

WASHINGTON -- Apparently the deficit hawks flew south for the winter. At least that's the conclusion that could be drawn from looking at the price ta...

Why Congress Plans To Extend Tax Breaks For NASCAR Tracks, Horse Racing

The Huffington Post | Travis Waldron | Posted 12.16.2015 | Politics

American Pharoah may not have won Sports Illustrated's "Sportsperson of the Year" award, but horse racing scored a different type of victory on Tuesd...

It's Time To Close The Carried Interest Loophole

Bill de Blasio | Posted 09.10.2015 | Politics
Bill de Blasio

Because of something called carried interest, the top 25 hedge fund mangers paid a lower tax rate than the average kindergarten teacher in 2014. Billionaire hedge fund managers don't need a tax break, and there is no reason this loophole should exist.

A Plan B For Millennials Who Aren't or Won't Be Homeowners

Bob Lotich | Posted 06.10.2015 | Business
Bob Lotich

The topic of Millennials opting out of homeownership has become a major phenomenon in recent years. There is plenty of research, as well as various theories, as to why this is happening. Wage stagnation, job instability, high debt levels, lack of ability to save for a down payment, and the need for employment mobility are commonly cited causes.

Pee for Your Food Stamps! (So Why Stop There?)

Rick Horowitz | Posted 05.23.2015 | Politics
Rick Horowitz

Some states make the needy jump through hoops. For their own good, of course...

Congress Rewards Corporations While Punishing the American People

Frank Clemente | Posted 05.22.2015 | Politics
Frank Clemente

Voting to give corporations a huge tax cut without closing loopholes to pay for it is the height of hypocrisy. It represents an egregious double standard by conservatives: They increase the deficit by providing hundreds of billions of dollars in tax breaks to corporations while they slash $5 trillion in spending that primarily benefits working Americans in order to reduce the deficit.

What Portion of Our Collective Wealth Are We Willing to Invest So People Can Succeed?

Deborah Weinstein | Posted 05.14.2015 | Politics
Deborah Weinstein

The budget outline just passed by Congress would make massive cuts in anti-poverty programs. The president is right to reject that stunted vision and to insist that Congress stop the cuts and re-start investing.

Bonanza for the Super Rich: The Fund Managers' Tax Break

Dean Baker | Posted 06.13.2015 | Business
Dean Baker

The reason most of us have seen little gain from economic growth over the last three decades is that the rich have rigged the rules to ensure that money flows upward. Through their control of trade policy, Federal Reserve Board policy, and other key levers of government, they have structured the market to weaken the bargaining power of ordinary workers and benefit the CEOs and Wall Street crew. As a result, the typical worker has seen almost none of the gains from economic growth over the last four decades. Most of this rigging comes in before-tax income.

Breaking News: Education Creates Economic Stability!

Ronnie Musgrove | Posted 05.23.2015 | Politics
Ronnie Musgrove

In today's political environment, what was once common sense now requires empirical evidence. Education, more than any single factor, allows individuals the ability to get better jobs and provide for themselves and their families.

A Call to End Child Poverty Now

Marian Wright Edelman | Posted 04.01.2015 | Politics
Marian Wright Edelman

It is a national moral disgrace that there are 14.7 million poor children and 6.5 million extremely poor children in the United States of America -- the world's largest economy. It is also unnecessary, costly and the greatest threat to our future national, economic and military security.

The 529 Microcosm: A Revealing Political Train Wreck with Regard to an Inefficient Tax Break

Jared Bernstein | Posted 03.30.2015 | Politics
Jared Bernstein

This little train wreck over the White House's proposal and then retraction of a plan to cut back on a wasteful yet beloved tax benefit is highly instructive. It's a clear example of how much hot air there is in these fiscal debates.

Dave Jamieson

Obama To Propose Tax Hikes On Wealthy, Breaks For Middle Class

HuffingtonPost.com | Dave Jamieson | Posted 01.19.2015 | Politics

During his State of the Union address on Tuesday, President Barack Obama will lay out a plan to extend tax credits to the middle class by hiking taxes...

Michael Madigan Shifts on Comptroller Succession

Matthew Dietrich | Posted 03.10.2015 | Chicago
Matthew Dietrich

After weeks of discussion about what to do with the now-vacant Illinois comptroller's seat, House Speaker Michael Madigan has now said he supports the idea of a special election. This opinion comes after he previously stated he would support a four-year appointment by Gov.-elect Bruce Rauner.

Ben Walsh

Study Debunks Major Argument In Favor Of Corporate Tax Breaks

HuffingtonPost.com | Ben Walsh | Posted 12.22.2014 | Business

The most popular argument for cutting corporate taxes -- that it helps create jobs -- doesn’t seem to be true.

Congress Passes Tax Extenders: What You Need to Know

Lisa Greene-Lewis, CPA | Posted 02.18.2015 | Money
Lisa Greene-Lewis, CPA

Yesterday, the Tax Increase Prevention Act of 2014 was passed by Congress, temporarily and retroactively extending more than 50 tax breaks that expired on December 31, 2013, meaning you and other taxpayers out there may receive a little extra holiday cheer this season.

Senate Votes To Extend Tax Breaks Through December

AP | STEPHEN OHLEMACHER | Posted 02.15.2015 | Politics

WASHINGTON (AP) — Banks, retailers, commuters and teachers will keep their temporary tax breaks for another year after Congress gave final approval ...

Friday Talking Points -- 'Tis The Season

Chris Weigant | Posted 02.04.2015 | Politics
Chris Weigant

It's that magical time of year when the wee folk of Capitol Hill actually get something done. These brief bursts of activity only happen very rarely, of course, and always immediately proceed another one of the many, many long vacations Congress takes during the year.

House Nearing Vote To Extend Tax Breaks

AP | STEPHEN OHLEMACHER | Posted 01.31.2015 | Politics

WASHINGTON (AP) — Struggling to reach a long-term agreement, House Republicans plan to vote on a one-year extension of temporary tax breaks affectin...

4 Reasons Why the House Has the Wrong Approach to Tax Extenders

Chuck Marr | Posted 01.20.2015 | Politics
Chuck Marr

Congress is expected during the lame-duck session to address "tax extenders," a set of tax provisions (mostly for corporations) that policymakers routinely extend for a year or two at a time.

Steve Ballmer Could Score $1 Billion Tax Break For $2 Billion Purchase Of Clippers

The Huffington Post | Kevin Short | Posted 10.30.2014 | Business

Steve Ballmer could score a $1 billion tax break from his purchase of the Los Angeles Clippers, according to an analysis by the Financial Times. Th...

What You Need to Know About the Tax Extenders Up for a Vote

Lisa Greene-Lewis, CPA | Posted 12.15.2014 | Money
Lisa Greene-Lewis, CPA

Now that summer is officially over and the fall season has arrived, most of us are looking ahead to cooler weather, the holiday season and spending time with family. But there's one thing many of us may not be thinking about but should be: taxes.

Ben Walsh

Your 401(k) Will Be Fine Even Though Stocks Just Tanked

HuffingtonPost.com | Ben Walsh | Posted 10.15.2014 | Business

Markets do their thing –- go up and down -– and you do yours –- use tax incentives to save the best you can.