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Tax Code

With a Tax Deal Imminent...

Dylan Ratigan | Posted 05.25.2011 | Politics
Dylan Ratigan

With a tax deal imminent, here are some things worth knowing, from Zero Hedge: "When anyone starts lecturing you that the US has the highest tax rate in the industrialized world, just turn around and walk away."

Amanda Terkel

2012 GOP Contender Pushes For Flat Tax | Amanda Terkel | Posted 05.25.2011 | Politics

WASHINGTON -- In an address to the Detroit Economic Club billed as a "major economic speech" by his office, Rep. Mike Pence (R-Ind.) laid out his visi...

New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy (VIDEO)

Posted 05.25.2011 | Business

UPDATE: The numbers that form the basis for the story below are "erroneous." Bloomberg News reports that on Monday, Nov. 1, 2010, the Social Security ...

Time for Strategic Philanthropy

Bill Zimmerman | Posted 05.25.2011 | Politics
Bill Zimmerman

Because of today's convoluted tax code many of those with incomes in the stratosphere actually pay a smaller portion of their total income than the rest of us.

Rich Would Still Get Tax Cuts Even If Bush Tax Cuts Expire

THE NEW YORK TIMES | JACKIE CALMES | Posted 05.25.2011 | Politics

Taxpayers with income of more than $1 million for 2011 would still receive on average a tax cut of about $6,300 compared with what they would have pai...

U.S. Tax Code Encourages Companies To Rack Up Debt

Washington Post | David Cho | Posted 05.25.2011 | Business

Over the past generation, debt in America has exploded, becoming a way of life in nearly every sphere of society. And the tax code has been its handma...

Americans Pay $140 Billion, Spend 7.6 Billion Hours A Year Just To File Their Taxes, Report Finds

AP/Huffington Post | Posted 05.25.2011 | Business

Any attempts to simplify the complicated U.S. tax code will produce lower taxes for some people and higher payments for others, including some of the ...

Tax Rates For America's Top 400 Earners Fell As Income Soared In 2007, According To IRS

Posted 05.25.2011 | Business

The earnings of the 400 highest-income Americans hit new highs in 2007 while the tax rates they paid hit new lows, according to a recent IRS report. ...

Colorado Tax Laws Could Make It Fourth State To Tax Online Retailers

AP | Posted 05.25.2011 | Denver

DENVER — Colorado is considering becoming the fourth state to force online retailers like Amazon to charge state sales tax. The Senate Finance ...

Homebuyer Tax Credits Went To Four-Year-Olds

AOL | Patricia Murphy | Posted 05.25.2011 | Business

There have been more than 500 instances of adults using the names of minors -- including a four-year-old -- to qualify for the first-time homebuyer ta...

More Charities Seek Tax Break for Donors, Costing U.S. Billions

New York Times | STEPHANIE STROM | Posted 05.25.2011 | Politics

Experts say nonprofits are skillfully exploiting the tax code's broad and elastic definition of what constitutes such a charity, making it difficult f...

Friday Talking Points: Is Opt-Out The Answer?

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

The plan isn't going into effect until 2013. Think you're tired of TV ads and screaming folks at town hall meetings now? Picture a more local version of that for the next four years -- not a pretty sight.

The Debt Economy - How The Tax Code Encourages Debt : The New Yorker | James Surowiecki | Posted 05.25.2011 | Business

. Debt didn't get dangerously out of scale because the system was broken. It got out of scale, in part, because the system worked. The government d...

Rich Americans Scrambling O

Posted 05.25.2011 | Business

By STEPHEN OHLEMACHER, Associated Press Writer WASHINGTON - A deal with Switzerland settling U.S. demands for the names of suspected tax dodgers from...

Technology, the Road to Recovery, and Personal Prosperity

Dean Garfield | Posted 05.25.2011 | Technology
Dean Garfield

It is time to marshal industry and scientific innovation to advance our key terrestrial priorities. The deep cultural divisions of the 1960s are largely behind us, but challenges remain.

The Me-First, Screw-Everyone-Else Crowd

David Sirota | Posted 05.25.2011 | Politics
David Sirota

The furor of the teabaggers is finally laying bare the greed and selfishness at the heart of the conservative movement. Here, I debunk the major myths coming from the Right on taxes.

How To Write-Off Off Your Ponzi-Scheme Losses | Posted 05.25.2011 | Business

If you've been cheated in a Ponzi investment scheme a la Bernie Madoff, the IRS wants to cut you some slack. The feds will let you treat your loss as ...

Tax Code Can Green Our Country

Rep. Mike Thompson | Posted 05.25.2011 | Green
Rep. Mike Thompson

Since Congress passed my provisions to enhance these tax benefits on a temporary basis in 2006, we've seen a fifty percent increase in conservation easements.

Tax Day: Obama Speaking On Changes To Code (VIDEO)

AP | Posted 05.25.2011 | Politics

WASHINGTON — President Barack Obama seized the opportunity on tax-filing day to assert that his administration is easing the tax burden of worki...

Why Our Tax Code is So Complicated

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business

There are plenty of reasons why the tax code is so complicated -- the length of time tax law have existed, special interest giveaways, and the implementation of anti-avoidance laws.

How the U.S. Tax Code Really Redistributes income

Beth Shulman | Posted 05.25.2011 | Business
Beth Shulman

The administration is attempting to more equitably distribute the benefits of tax entitlements by ensuring those at the bottom get the benefits that higher income taxpayers already receive.

'Clawback' Mountain: Use the Tax Code

Paul Abrams | Posted 05.25.2011 | Politics
Paul Abrams

Public support for fixing the financial system is vanishing. The egregious bonuses are a constant reminder of how the wealthy are able to jigger the system to benefit themselves.

How To Avoid A Tom Daschle Tax Trip Up

New York Times | Ron Lieber | Posted 05.25.2011 | Business

In just a couple of hours on Tuesday, two high-level nominees for jobs in the Obama administration took themselves out of the running because of tax p...

A Response To Rep. Elijah Cummings

Chris Weigant | Posted 05.25.2011 | Politics
Chris Weigant

The loopholes which allow such corporate excess were not exactly handed down to Moses on tablets -- each and every loophole was approved by Congress.

Untangling The Tax Code: What You Need To Know

LA Times | Kathy M. Kristof | Posted 05.25.2011 | Business

Now that tinkering with the tax code has become a favorite congressional pastime, the annual filing season is more of an ordeal than ever, with laws k...