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Obey wants 'war surtax' to fund Afghan effort - The Hill's Blog Briefing Room

Mon, 23 Nov 2009 00:00:00 -0800

The Hill - By Michael O'Brien - Nov. 23 (News Report) - Any troop increase for Afghanistan should come with a "war surtax" on high income Americans, a top House chairman said Monday. Rep. David Obey (D-Wisc.), the chairman of the House Appropriations Committee, warned that if President Barack Obama decides to send additional troops to Afghanistan, it should be funded with the new tax."If we have to pay for the healthcare bill, we should pay for the war as well," Obey told ABC News in an interview.

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Senate girds for Saturday vote and long battle on health care

Fri, 20 Nov 2009 00:00:00 -0800

McClatchy - By David Lightman - Nov. 20 (News Report) - The Senate Thursday began what promises to be a bitter, lengthy battle over the future of health care in America, and taxes, abortion, affordability and federal deficits emerged as key flashpoints.

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House leaders prepare to wrestle with question of taxes to pay for healthcare

Sat, 03 Oct 2009 00:00:00 -0700

The Hill - By Mike Soraghan - Oct. 03 (News Report) - House Speaker Nancy Pelosi and fellow House Democratic leaders next week are expected to wade into the treacherous waters of how to pay for the House healthcare bill as they continue to negotiate the shape of the bill behind closed doors.

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Privatized welfare plan price swells ::

Sat, 22 Aug 2009 00:00:00 -0700

Associated Press - Aug. 22 (News Report) - Indiana will spend nearly $180 million more than it initially planned to privatize and automate many of its welfare functions just two years into a closely watched 10-year deal that is one of the most lucrative contracts in state history. The cost of the $1.16 billion contract Gov. Mitch Daniels signed in late 2006 has risen 15 percent, to $1.34 billion, under changes made to the agreement with a group led by Armonk, N.Y.-based IBM Corp.

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UBS will give IRS 4,450 names of suspected tax cheats

Wed, 19 Aug 2009 00:00:00 -0700

Reuters - By Stephen Ohlemacher, Devlin Barrett, Associated Press Writers - Aug. 19 (News Report) - Swiss banking giant UBS agreed Wednesday to turn over to the IRS details of 4,450 accounts suspected of holding undeclared assets by U.S. customers, ending an intense trans-Atlantic legal fight. IRS Commissioner Doug Shulman says the accounts held $18 billion in assets at one time. Many have since been closed, he said.

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Obama's EPA plans fewer toxic cleanups

Tue, 11 Aug 2009 00:00:00 -0700

Associated Press - By Dina Cappiello - Aug. 11 (Special Report) - For years, the Bush administration was criticized for not cleaning up enough of the nation's most contaminated waste sites. The Obama administration plans to do even less.

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Billionaire Tax Felon Says UBS Lied in Pledge to Report to IRS

Mon, 10 Aug 2009 00:00:00 -0700

Bloomberg - By David Voreacos - Aug. 10 (News Report) - With evidence from the Olenicoff case and cooperation from Birkenfeld, U.S. prosecutors have been able to penetrate the veil of financial invisibility that Switzerland guards as a national treasure. To avoid immediate prosecution, UBS, Switzerland’s second- largest bank by stock market value, behind Credit Suisse Group AG, agreed on Feb. 18 to pay the U.S. $780 million. It renewed a pledge to stop unlicensed recruiting of customers in the U.S. and agreed to cooperate with investigators during 18 months of probation. The bank admitted in court that it had helped American clients dodge taxes from 2000 to 2007.

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UBS Client Chernick Admits Filing False Tax Return (Update2)

Mon, 10 Aug 2009 00:00:00 -0700

Bloomberg - By Voreacos - Aug. 10 (News) - submit hid the original story window. Wait a bit.

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UBS Tax Settlement Delayed on U.S., Switzerland Talks (Update4)

Fri, 07 Aug 2009 00:00:00 -0700

Bloomberg - By David Voreacos, Mort Lucoff, Carlyn Kolker - Aug. 07 (News Report) - The U.S. and Switzerland need at least five more days to negotiate settlement of a Justice Department lawsuit against UBS AG seeking the names of Americans suspected of evading taxes through 52,000 secret Swiss accounts. U.S. District Judge Alan Gold in Miami today agreed to a request by Justice Department attorney Stuart Gibson to reschedule a telephone conference call for Aug. 12. Gibson told Gold on July 31 that the two governments had agreed in principle to settle the case and hoped to reveal final terms today.

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Pinched States Wrestle With More Cuts

Thu, 30 Jul 2009 00:00:00 -0700

Wall Street Journal - By Leslie Eaton - Jul. 30 (News Report) - Just a few weeks after many states struggled to balance their budgets for the new fiscal year, plunging tax revenues are forcing more cuts.

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Health Bill in House Relies on Wealth Tax

Sat, 11 Jul 2009 00:00:00 -0700

Wall Street Journal - By Greg Hitt, Martin Vaughan - Jul. 11 (News Report) - House Democrats plan to pay for their health-care legislation with a big tax increase on wealthy households, aiming to raise $540 billion over the next decade with a package of surtaxes on families making $350,000 or more.

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BBC NEWS | Americas | California in 'fiscal emergency'

Thu, 02 Jul 2009 00:00:00 -0700

BBC News - By BBC Media - Jul. 02 (News Report) - Democrats and the governor, and the Republican lawmakers who take pride in never voting in favour of any budget, have set us on a road toward two possible cataclysms: a popular revolt that will further diminish the power of government as we know it, and ruinous default that keeps the recession alive for another decade and plunges Californians, and perhaps all Americans, into nearly unimaginable misery.

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Earthquakes fuel questions over drilling in Cleburne | News for Dallas, Texas | Dallas Morning News | Latest News

Sun, 14 Jun 2009 00:00:00 -0700

Dallas Morning News - By Sherry Jacobson - Jun. 14 (News Report) - It's hard to find anyone in this North Texas city of 30,000 who isn't getting mailbox money in exchange for allowing a natural gas company to drill on – or under – his or her property. But after a spate of mild earthquakes in the past two weeks that could be connected to the drilling, people are starting to reconsider: Is it worth the money?

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The cost of gay marriage – in dollars and cents

Wed, 27 May 2009 00:00:00 -0700

Christian Science Monitor - By Kathryn Perry - May. 27 (News Report) - Maghi Geary might have some peculiar advice for Californians: Gay marriage is good for business. The co-owner of Provincetown Florist has 20 to 30 weddings booked this summer, and the reason for that decent return is evident in the next customer who walks through the door – a lesbian couple from Kansas desperately in need of some carnations for their wedding.

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America's poor are its most generous donors

Sat, 23 May 2009 00:00:00 -0700

McClatchy - By Frank Greve - May. 23 (Special Report) - When Jody Richards saw a homeless man begging outside a downtown McDonald's recently, he bought the man a cheeseburger. There's nothing unusual about that, except that Richards is homeless, too, and the 99-cent cheeseburger was an outsize chunk of the $9.50 he'd earned that day panhandling. The generosity of poor people isn't so much rare as rarely noticed, however.

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Google is accused of UK tax avoidance

Mon, 20 Apr 2009 00:00:00 -0700

The Guardian - By Terry Macalister - Apr. 20 (News Report) - Google has joined the list of companies facing criticism over tax avoidance after public accounts showed it paid only £600,000 in UK corporation tax despite local revenues of more than £1.25bn.

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Resenting the rich

Fri, 17 Apr 2009 00:00:00 -0700

Economist - By Saugato Datta - Apr. 17 (Poll) - (Online Debate) Vote on this question: This house believes that the rich should pay higher taxes. Do you agree with the motion? 51%voted yes 49%voted no

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IRS workers see double standard on tax errors

Fri, 17 Apr 2009 00:00:00 -0700

Chicago Tribune - By Tom Hamburger, Ralph Vartabedian - Apr. 17 (News Report) - The Treasury secretary, who oversees the IRS, didn't pay all his taxes. Neither did five other top nominees for the Obama administration, or their spouses. Now, as Wednesday's tax deadline looms, some Americans are wondering why they should comply with the arcane requirements of the Internal Revenue Service when top administration officials failed to do the same. Even some IRS employees are upset at what they see as a double standard. The most criticized example has been Treasury Secretary Timothy Geithner, who admitted not paying $34,000 in payroll and Social Security taxes, saying his failure to pay was an oversight. Five other nominees disclosed similar tax issues, including one as recently as two weeks ago when Kathleen Sebelius, President Barack Obama's pick for secretary of health and human services, admitted she didn't pay $7,040. "Our members are upset and angry," said Colleen Kelley, president of the National Treasury Employees Union, referring to concern bubbling up within the IRS over unusually strict rules that can cost agents their jobs if they make a mistake.

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Sales-Tax Revenue Falls at Fastest Pace in Years

Thu, 16 Apr 2009 00:00:00 -0700

Wall Street Journal - By Conor Dougherty - Apr. 16 (News Report) - State and local sales-tax revenue fell more sharply in the fourth quarter of 2008 than at any time in the past half century, and has continued to erode through the beginning of 2009, according to a report released Tuesday.

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Despite "tea party" tempest, taxes down, dropping

Thu, 16 Apr 2009 00:00:00 -0700

Seattle Times - By Lori Montgomery - Apr. 16 (News Report) - A majority of those surveyed by Gallup last week said the amount of federal income taxes they pay is either "too low" or "about right," compared with 46 percent who said their tax bills are "too high," one of the most positive assessments of the federal tax burden since Gallup began asking the question in 1956.

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Who pays taxes - and how much? A tax day perennial.

Thu, 16 Apr 2009 00:00:00 -0700

Business 2.0 - By Jeanne Sahadi - Apr. 16 (Special Report) - For most Americans, Wednesday is the day they have to make sure they're square with the tax man. It's also a day that focuses the mind on those perennial questions about the fairness of the U.S. tax system. Are higher-income people paying enough - or would raising their taxes depress their incentive to work? Are the poor getting gouged - or do too many get off without paying a penny? Are those in the vast middle getting squeezed?

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Americans' Tax Burden Near Historic Low

Thu, 16 Apr 2009 00:00:00 -0700

Washington Post - By Lori Montgomery - Apr. 16 (News Report) - As thousands of anti-tax protesters rallied across the nation yesterday and the president promised tax cuts for most, new data showed that the federal income tax burden is already hovering near its lowest level in three decades for all but the wealthiest Americans.

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Views of Income Taxes Among Most Positive Since 1956

Wed, 15 Apr 2009 00:00:00 -0700

Gallup - By Jeffrey M. Jones - Apr. 15 (Poll) - A new Gallup Poll finds 48% of Americans saying the amount of federal income taxes they pay is "about right," with 46% saying "too high" -- one of the most positive assessments Gallup has measured since 1956. Typically, a majority of Americans say their taxes are too high, and relatively few say their taxes are too low.

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At tax time, cases like Geithner's raise pointed questions

Wed, 15 Apr 2009 00:00:00 -0700

Los Angeles Times - By Tom Hamburger, Ralph Vartabedian - Apr. 15 (News Analysis) - The Treasury secretary, who oversees the IRS, initially didn't pay all his taxes. Neither did five other top nominees for the Obama administration or their spouses. Now, as tonight's tax deadline looms, some Americans are rhetorically asking: What would have happened to me if I had done the same thing?

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UBS Client Pleads Guilty to Filing False Tax Return

Wed, 15 Apr 2009 00:00:00 -0700

Bloomberg - By David Voreacos, Justin Blum - Apr. 15 (News Report) - A Florida yacht broker pleaded guilty to filing a false tax return that failed to disclose $3.4 million held at UBS AG, Switzerland’s largest bank and the subject of a U.S. crackdown on offshore tax evasion.

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