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Friday, May 13, 2011

Taxes

News                                                                                                                             
National Journal | Boehner: Tie Eliminating Tax Breaks to Lower Corporate Rates
House Speaker John Boehner, R-Ohio, said on Thursday that he could support eliminating tax breaks, including those given to oil companies, if the revenue gained was coupled with a lower corporate tax rate.
Fiscal Times | Longtime Tax Breaks May Get Booted by the Budget
It has been 25 years since major tax breaks were seriously scrutinized as part of budget negotiations.
National Journal | Business Chiefs Want Tax Reform, Not Holiday
They urge Ways and Means for a permanent exemption on overseas profits.

Econ Comments                                                                                                             
FT | Big oil protests too much on tax
On both sides of the Atlantic, oil and gas executives are fighting politicians who have targeted them for tax increases.

Blogs                                                                                                                             
Atlantic: McArdle | Roth IRAs: Safety in Numbers?
Getting a tax break now in your 401(k) or traditional IRA is guaranteed; getting a tax break in the future is not.
Forbes: On the Cutting Edge | Reaganomics Vs. Obamanomics: Fallacies Offered By The Left
The tax rate, particularly the marginal tax rate, which is the tax rate that applies to the last dollar earned, determines how much the producer is allowed to keep out of what he or she produces.