All posts in Tax News
Obama Says More Tax Revenue Is Necessary
During the fiscal cliff debate, President Obama was straightforward in discussing his solution on how to further reduce the budget deficit: more taxes are needed. He criticized the idea that “deficit reduction is only a matter of cutting programs.” But […]
CEOs Try to Escape Higher Taxes Going into Effect in 2013
Many business executives- including some at companies such as Cablevision and Google- took action in late 2012 as the expiration of the Bush tax cuts loomed. By selling stock at the end of 2012, these executives saved a considerable amount […]
Democratic Leaders Seek More Tax Revenue
Congress reached a compromise on the “fiscal cliff” in early January under which the Bush income tax cuts were renewed for all except high-income taxpayers. However, increased payroll and Medicare taxes took effect on January 1. Moreover, President Obama and […]
President Obama Seeks to Make Tax Code More Progressive
Congress passed the “fiscal cliff” legislation in early January 2013 that prevented the expiration of the “Bush tax cuts” for middle and lower class Americans. However, it is interesting to examine what the Obama administration hoped would occur in terms […]
Private Equity’s Tax Breaks Under Attack
Faced with fiscal challenges to the United States in the last few years, lawmakers and policy experts have discussed eliminating the preferential tax treatment of private equity and hedge funds. Private equity and hedge fund managers’ annual compensation is often […]
Wealthy Face Crushing Taxes in California
Residents of California face heavy income tax burdens. The federal tax rate on income over $400,000 ($450,000 for joint filers) rose from 35 percent to 39.6 percent for the 2013 tax year and beyond. The Affordable Care Act imposes a […]