Add Labor Unions to the list of people concerned about the implementation of Obamacare. Labor is now publicly “balking at how the administration plans to implement the landmark law. They warn that unless there are changes, the results could be catastrophic.”
The United Food and Commercial Workers International Union (UFCW) with a membership of 1.3 million are “worried about how the reform law will affect its members’ healthcare plans.” Last month, [...]
University of Tampa professor Ryan T. Cragun, with a little help from his students, has attempted to calculate how much religious tax exemptions cost America each year, and the figure is a staggering $71 billion.
The impetus behind calculating this figure came when professor Cragun was asked how much mansion-owning Reverend Randy White paid in taxes on his income. There was no readily available answer, and this got Cragun and his [...]
Environmental issues aside, its a super profitable business, they don’t need any handouts.
Approximately 10% of their revenue is profit (Source: Exxon Mobil). That’s by no means SUPER profitable. Oil companies do well because of quantity. If you take away handouts, take them away from every company. No company should be getting free money from the government. Free money from the government is just money taken from taxpayers who should have [...]
Christie Leaning on Tax Subsidies in Hunt for Jobs
By CHARLES V. BAGLI
Published: April 4, 2012
Panasonic received $102.4 million in tax credits to move its headquarters nine miles within New Jersey. Goya Foods picked up $81.9 million in credits to build offices and a warehouse in Jersey City, two miles from its current complex. Prudential Insurance obtained $250.8 million to move a few blocks to a new tower in Newark.
Prudential Insurance, [...]
WASHINGTON (AP) — President Barack Obama’s plea to Congressto end $4 billion in tax subsidies to oil companies was rebuffed Thursday as the Senate turned back a Democratic bill to repeal the tax breaks.
Moments after Obama made his election-year appeal in the White House Rose Garden, the Senate failed to reach the threshold of votes needed to proceed to a measure that would have ended the subsidies. Obama had argued that Americans are getting hit twice — once at [...]
President Barack Obama’s 2013 budget plan would raise taxes for 27 percent of U.S. households in 2013, far more than the administration estimates, according to a nonpartisan study. The study released today comes from the Tax Policy Center, a research group in Washington that analyzes proposals from presidential candidates in both parties.
Obama focuses the tax increases in his 2013 budget on corporations and the top 2 percent of individual [...]
Obama revealed: A moderate Republican
By Ezra Klein, Published: April 25, 2011
America is mired in three wars. The past decade was the hottest on record. Unemployment remains stuck near 9 percent, and there’s a small, albeit real, possibility that the U.S. government will default on its debt. So what’s dominating the news? A reality-television star who can’t persuade anyone that his hair is real is alleging that the president of [...]
SAT NOV 05, 2011 AT 08:30 AM PDT
30 Fortune 500 companies paid no federal income taxes over last 3 years
There are a lot of corporate bad guys to point at in the new report Corporate Taxpayers & Corporate Tax Dodgers (PDF). Out of 280 profitable Fortune 500 corporations the report examines, 30 paid a negative effective federal income tax rate between 2008 and 2010, while 67 paid less than [...]
Washington, DC – A comprehensive new study that profiles 280 of America’s most profitable companies finds that 78 of them paid no federal income tax in at least one of the last three years. Thirty companies enjoyed a negative income tax rate over the three year period, despite combined pre-tax profits of $160 billion. These are among the findings in “Corporate Taxpayers and Corporate Tax Dodgers, 2008-2010,” released today by [...]
by Stephen Dinan
President Obama’s new tax-cuts and spending jobs stimulus bill is paid for by new tax increases on higher-income families — with the lion’s share coming from taxes Congress has already rejected.
Budget director Jacob “Jack” Lew told reporters Mr. Obama’s plan would limit tax deductions for individuals making $200,000 a year or families making $250,000, which he said would raise about $400 billion [...]
Automobilemag.com reports that General Motors has responded to my report questioning whether dealerships are gaming Chevy Volt tax credits. Chevy Volt spokesperson, Rob Peterson, states that “NLPC is confused.” He then goes on to confirm that the dealerships purchasing Chevy Volts and reselling them as used vehicles are entitled to the $7,500 tax credit. Clearly, it is GM that is confused, considering that this was [...]
John Boehner thinks subsidizing big oil is good for the economy
A little over two weeks ago, John Boehner dropped a bit of a bombshell, telling ABC News he was open to ending tax subsidies for big oil. Within 24 hours, his office was already backing offhis comments, and as of today, he’s completely reversed course, saying Democratic proposals to repeal tax subsidies for big oil shouldn’t even be on the table.
It’s a non-starter for [...]
Responding to proposals by various Democrats, including President Obama, right-wing media have over the past few days claimed that eliminating various tax subsidies now received by oil and gas companies will drive up the price of gasoline at the pump. However, queries of energy experts by Media Matters show the premise to be false. Moreover, not only would getting rid of the subsidies [...]
NEW YORK (AP) — Exxon earned nearly $11 billion in the first quarter, a performance likely to land it in the center of the national debate over high gasoline prices.
The world’s largest publicly traded company on Thursday reported net income of $10.65 billion, or $2.14 per share, in the first three months of the year. That compares with $6.3 billion, or 1.33 per share a [...]
WASHINGTON (AP) — President Barack Obama is urging congressional leaders to take steps to repeal oil industry tax breaks, reiterating a call he made in his 2012 budget proposal earlier this year.
The president wrote a letter to the bipartisan congressional leadership on Tuesday, a day after Republican House Speaker John Boehner said he was willing to “take a look at” repealing the multibillion-dollar tax [...]
By Ezra Klein
(Toshiyuki Aizawa – BLOOMBERG) America is mired in three wars. The past decade was the hottest on record. Unemployment remains stuck near 9 percent, and there’s a small, albeit real, possibility that the U.S. government will default on its debt. So what’s dominating the news? A reality-television star who can’t persuade anyone that his hair is real is alleging that the president of [...]
by Jim Quinn
How Many Senators Does It Take To Screw A Taxpayer?
â€œToday, the government decides and they misdirect the investment to their friends in the corn industry or the food industry. Think how many taxpayer dollars have been spent on corn [for ethanol], and thereâ€™s nobody now really defending that as an efficient way to create diesel fuel or ethanol. The money is spent for political [...]
A misinformed, right-wing corporate media consumer who often fails to understand that BOTH major parties represent a corrupt plutocracy that steals from the middle class by taxing labor and profiting from corporate tax subsidies.
A teabagger also often fails to acknowledge that George W. Bush and his neo-conservative minions perpetrated one of the boldest and most egregious executive power grabs in the history of the United States. Furthermore, teabaggers mistakenly continue [...]