Taxes

Sep 4, 2010 Democrats say new tax plan would cut Cailfornia deficit without raising taxes (The Sacramento Bee) Democrats originally proposed a 1.65 percent rate. But the Legislative Analyst's Office and other reviewers concluded that the plan would have cost middle-class taxpayers more in fiscal 2011-12. But the same filer would, on average, receive a $112 federal deduction and a $524 reduction in sales...    more...  
Sep 1, 2010 Wonkbook: Jobs bill details sketched; unions target boardrooms; new oil reg rules (Washington Post) Meanwhile, an SEC decision expanding shareholder power over corporate boards has led unions to consider installing their supporters on target companies' boards. It's not clear what those tax breaks would target or how much they might cost in lost revenue to the government. That the Reagan and...    more...  
Aug 30, 2010 Looming tax cut debate already ripples through Boxer-Fiorina race (San Jose Mercury News) A May poll by the Public Policy Institute of California suggests, at first blush, that Boxer's position is a popular one.    more...  
Aug 30, 2010 Ask The Experts: Can I deduct taxes on second house?:: (The Sacramento Bee) By Claudia Buck Aug. 30, 2010 (McClatchy-Tribune News Service delivered by Newstex) -- Do I pay taxes for household workers? Can I take a deduction for a second home used by family? You are not required to withhold federal income tax from wages you pay to a household employee, unless your...    more...  
Aug 30, 2010 The Sacramento Bee, Calif., Dan Walters column (The Sacramento Bee) Now they want to repeal them via a ballot initiative, Proposition 24. Democrats are also sending Gov. Arnold Schwarzenegger a series of bills that would require more reportage of business tax breaks and limit their existence. Schwarzenegger and GOP legislators are flatly rejecting any tax hikes...    more...  
Aug 28, 2010 O'Malleys on pace to earn $1.2M during 4 years in Annapolis (Washington Post) Most of that money came in wages from law firm Womble Carlyle Sandridge & Rice. If anybody wants to know what the governor and first lady makes, they can look it up on the Internet.    more...  
Aug 28, 2010 Social Security payback option may disappear (Washington Post) The Social Security Administration (SSA) is moving to eliminate the do-over strategy. Then the SSA will send you a letter telling you how much you need to repay (including any spousal benefits). That process may take several weeks or even months. But once that 12-month deadline passed, they would...    more...  
Aug 27, 2010 Research Desk investigates: Do the rich spend less of new income than the poor? (Washington Post) In "Do the Rich Save More?", economists Karen Dynan, Jonathan Skinner and Stephen Zeldes found a strong relationship between personal savings and income. What's more, it does not debunk the idea that services to the working class can be stimulative. See Zandi's multiplier figures for food stamps...    more...  
Aug 26, 2010 'Those of us who work on children's issues are very depressed' (Washington Post) Most industrialized countries have a child care system. I saw some new figures from the National Association of Child Care Resource & Referral Agencies (NACCRRA). They keep studying child care in America. They have these child care centers in federal buildings all over the country.    more...  
Aug 25, 2010 Schwarzenegger (The Sacramento Bee) He called for lower taxes on income and corporations as part of the sales tax change. The proposal would have captured more taxes from service industries. Businesses rejected the idea because it was unproven and might result in higher costs for some companies. He proposed taxing everything from...    more...  
Aug 23, 2010 Research Desk: Do changes to flexible spending accounts hurt middle-class families? (Washington Post) Currently, there is no maximum contribution to FSAs.The Affordable Care Act introduces a cap on FSA contributions, allowing only $2,500 a year starting in 2013. By exempting contributions from payroll taxes, FSAs reduce workers' total contributions to Social Security, and thus their later...    more...  
Aug 22, 2010 Thousands of companies get warning on taxes (The Sacramento Bee) ...businesses 30 days to file a return or show why there is no tax filing requirement. Businesses that disregard the notices could face penalties, interest and fees. In this region, the notices went out to 1,452 businesses in Sacramento County; 173 in El Dorado; 312 in Placer; 130 in Yolo and 59...    more...