Asian Conservatives

Oh it’s silly, really. Levying a tax — ahem, fee — on the 50 largest banks in the name of fairness to the American taxpayers. President Obama floated the idea of a bank fee to punish the financial institutions for getting us into so much financial trouble, and justifiably so, to get back TARP money [...]

Is it any surprise? IRS Commissioner Douglas Shulman thinks the tax code is too complex so he doesn’t even do his own taxes:
Shulman is far from the only American who needs professional help leading up to April 15. According to the IRS, 60 percent of Americans pay an accountant or a tax preparing service to [...]

There’s a mass exodus from New York, especially from NYC. And those who are leaving are the well-to-do individuals, families, and corporations which have paid much of the state and city’s taxes in the past years. With them gone, New York’s tax revenues declined significantly:
The average Manhattan taxpayer who left the state earned $93,264 a [...]

First time homebuyers are eligible for an $8,000 tax credit thanks to the multibillion dollar stimulus package Congress passed this year. Where “cash for clunkers” aimed to give the auto industry a lifeline, the homebuyer tax credit hopes to boost sales of homes. But would it really work?
If you ask politicians from states suffering the [...]

No new taxes on the middle class, remember that? President Obama made that promise to voters during the campaign, and so far in all his rhetoric he’s repeated that promise.
Too bad some of his Democrat colleagues like Sen. Jay Rockefeller (D-WV) thinks otherwise:
The West Virginia Democrat worries, however, that a lot of middle class workers, [...]

Rep. Charles Rangel (D-NY), chairman of the House Committee on Ways and Means, should step down in light of his glaring dishonesty in reporting his assets and income for tax purposes. He’s currently under investigation by two House subcommittees. This is not just a mistake of a few thousand dollars, either:
Among the dozen newly disclosed [...]

During the presidential campaign, Obama promised not to raise taxes on the middle class, but that may soon change. His economic advisers aren’t ruling out a tax hike. This shouldn’t come as a surprise to anybody considering the level of expansion and spending of President Obama’s federal government:
Treasury Secretary Timothy F. Geithner and White House [...]

The White House Office of Management and Budget projects the federal deficit to be $9 trillion over the next 10 years. That’s pretty scary, but columnist Jill Lawrence, whom I suspect is an Obama supporter, couldn’t help but point fingers at President Bush:
What they are not discussing is how we ended up in a hole this [...]

Just how ridiculous and “fair” is the U.S. tax code? The latest IRS data is out, and it doesn’t look pretty for Americans who want to do well and accumulate wealth.
Top 1% of income earners are paying 40% of all income taxes! And nearly all income tax revenues come from the top 50% of earners! [...]

Why is it that whenever there’s a perceived problem, Democrats want to solve it by taxation?
Sugary beverages are not good for you, especially if you’re obese, so why not tax soda and raise money for health care reform:
At the Centers for Disease Control and Prevention’s “Weight of the Nation” conference today, CDC chief Dr. Thomas [...]

You read it right. The WSJ even calls it the “Maine Miracle“:
This month the Democratic legislature and Governor John Baldacci broke with Obamanomics and enacted a sweeping tax reform that is almost, but not quite, a flat tax. The new law junks the state’s graduated income tax structure with a top rate of 8.5% and [...]

We all know California is in deep economic trouble. Its GDP surpasses even some nations, but lately the state is on a downward spiral of economic decline. It’s in so much trouble that the Governator Arnold Schwarzeneggar (R), considered by some to be a RINO, is proposing a flat tax.
It’s a good idea: simple to [...]

In recent years more American businesses and wealthy individuals have moved their money into offshore havens and foreign banks to escape the tax consequences at home. The Obama administration sees this as a big problem — possibly more of a “fairness” issue rather than a tax issue — and will soon release extensive plans to [...]

During the presidential campaign, Joe the Plumber leaped onto the national spotlight by exposing Obama’s “spread the wealth” tax policy. Now in an interview with ABC News’ Charles Gibson, President Obama discloses that “fairness” is at the heart of his tax policy:
…Well, Charlie, what I’ve said is that I would look at raising the capital [...]

The White House has released 2008 tax returns from the President and the Vice President. Interestingly, take a look at Joe Biden’s charitable contributions for the year: $1,885. With an adjusted gross income of $269,256, that’s not even 1% in charitable gifts. Okay, it’s possible that the tax return doesn’t tell the whole story. He [...]