The second most senior Democrat in the U.S. Senate, Dick Durbin, will propose a new scheme that would force online retailers like Amazon and iTunes to collect local taxes for each and every transaction. He’s expected to make the proposal the day after Tax Day, and it’s expected to be controversial within two seconds of having been announced.Read more »
PHILADELPHIA – An accountant who tipped off the IRS that his employer was skimping on taxes has received $4.5 million in the first IRS whistleblower award.
The accountant's tip netted the IRS $20 million in taxes and interest from the errant financial-services firm.Read more »
Illinois state lawmakers are advancing a new proposal that could force people convicted on marijuana and meth charges to pay fines to cover the police's cost to bust them.Read more »
Mayor Jim Suttle went to Washington Tuesday flush with ideas for how federal officials could help cities like Omaha pay for multibillion-dollar sewer projects. Among the items on his brainstorming list: a proposal for a 10-cent federal tax on every roll of toilet paper you buy.Read more »
Six years after it came into law, this elusive tax has achieved urban legend status. Many aren’t quite sure what it entails, how much of it has been collected or whether it really even exists. Even state officials are scratching their heads.Read more »
San Francisco, unlike most other cities in Silicon Valley, has a 1.5% payroll tax. And even more stunning is that they consider gains on stock options part of payroll, meaning that any San Francisco based company going public or being acquired could get hit with a massive tax bill in the tens of millions of dollars.Read more »
On Thursday, Governor Quinn signed a measure he called the "Mainstreet Fairness Act," levying a new set of taxes on online retailers. Depending on who you ask, the law, known colloquially as the "Amazon Tax," will be a massive windfall in state revenues, or a set of empty promises that will cause companies to flee the state and revenues to drop.Read more »
The lie! well what a surprise, government finances are worse than believed due to off balance sheet items.
Note the comments on the UK health system - one of the real reasons for Obama care is to build this endebted state worker constituency.
More examples of goverment "liscence" get in the way of enterpriseRead more »
Jesse Jackson Jr. Says Way Out of the Unemployment Crisis is to Change the Constitutional So Every Ghetto Kid Gets an iPod and a LaptopRead more »
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