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Friday, December 7, 2012

Taxes

News                                                                                                                             
CNN Money | Payroll tax cut: Is it in, or is it out?
In all the rhetorical noise about the fiscal cliff, the discussion has focused most heavily on the Bush-era income tax cuts.
CNN Money | Hundreds of companies -- especially utilities and telecom firms -- are sharpening their lobbying efforts, with seven executives flying to Washington next week to tell lawmakers that dividend hikes will hit seniors hard.
Big biz pushes to stop dividend tax hike

Econ Comments & Analysis                                                                                            
Fortune | Will Obama and Congress punt on real tax reform?
Whether or not the president and lawmakers reel us in from the fiscal cliff, the tax debate is sure to keep going.
WSJ | Obama's Famous Tax 'Victory'
To read the current fiscal-cliff coverage, President Obama holds the upper hand and is poised for the "victory" of winning an increase in the top two tax rates.
CBO | Taxing Businesses Through the Individual Income Tax
Since the individual income tax was instituted in 1913, the profits of most businesses have been allocated, or “passed through,” to their owners and subjected to that tax—rather than to the corporate income tax.
Washington Post | The death of tax reform
The story behind the story is that “tax reform,” as we know it, is dying. During the 1980s, no major piece of legislation better symbolized bipartisan consensus than the Tax Reform Act of 1986, which was regarded by both liberal and conservative experts as the best tax law since World War II.
WSJ | The Fantasy of a 91% Top Income Tax Rate
Democratic Party leaders, President Obama in particular, are forever telling the country that wealthy Americans are taxed at too low a rate and pay too little in taxes. The need to correct this seeming injustice is framed not simply in terms of fairness.
Washington Times | Europe’s tax hydra
The eurocrats presented a “30 point action plan” aimed directly at Switzerland, and European Union members Ireland and Luxembourg, which offer comparatively low tax rates. Private companies that legally take advantage of these existing laws also find themselves in the crossfire.