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Wednesday, March 14, 2012

Taxes

News                                                                                                                             
CNN Money | Tax breaks for the unemployed
For unemployed Americans who have watched their savings diminish as they look for work, tax season may finally bring some relief.

Econ Comments & Analysis                                                                                            
Daily Caller | What policymakers can learn from Canada’s corporate tax cuts
President Obama and most members of Congress agree that the U.S. corporate tax rate should be cut. Thankfully, it is finally sinking in that having a 40 percent corporate tax rate when the world average is just 23 percent is suicide in a globalized economy.
WSJ | Big Oil, Bigger Taxes
President Obama says he wants to end subsidies for what he calls "the fuel of the past," but lucky for him oil and gas will be the fuels of the future too. His budget-deficit blowout would be so much worse without Big Oil, because the truth is that this industry is subsidizing the government.

Blogs                                                                                                                             
Tax Foundation | Indiana Legislature Approves Plan to Eliminate Inheritance Tax
The Indiana legislature has approved a bill that would eliminate the state's inheritance tax. If Gov. Daniels signs the bill (SB 293), the tax will be gradually phased-down and finally eliminated in 2021.
Atlantic | IRS to Mom and Pop: Drop Dead
Doing your taxes sucks. Paying someone else to do your taxes sucks, too. But you know what sucks most of all? Having the person who does your taxes go out of business (or dramatically raise prices) thanks to an IRS power grab.
The American | Are falling tax revenues confirming a growth slowdown?
The big banks lately have been cutting their 1Q GDP forecasts to under 2%, the wisdom of which is seemingly being confirmed by the slowdown in tax revenue flowing to Washington