(Huffington Post) — A lot has been said about the proposed tax giveaway to the wealthiest Americans and the austerity measures recommended by President Obama’s deficit commission. However, an analysis of the impact that both proposals would have on black and brown Americans has been missing from the conversation. U.S. Census Bureau projections show that […]
(Wall Street Journal_ == Since the announcement of the deal by the White House and top Republicans to extend Bush-era tax cuts for two years and cut payroll taxes for one, taxpayers have been anxious to learn the fate of other tax breaks that have expired or are set to. Now there is news: The […]
(Wall Street Journal) — The Rev. Al Sharpton and Rep. Anthony Weiner — two of the brashest voices in New York politics — are dueling over the proposed tax deal cut between President Barack Obama and congressional Republicans. Many liberals have attacked the deal and criticized the president for what they see as caving in to […]
(LA Times) — The tax-cut deal President Obama struck with congressional Republicans reflects an enduring political reality: Forced to choose, Washington’s leaders kick long-term problems down the road. The agreement would add a staggering $700 billion to the federal budget deficit in the next two years alone, and the prospects for tax cuts and their negative consequences […]
(Washington Post) — The D.C. Council approved a city spending plan Tuesday that avoids higher taxes but includes far-reaching efforts to control spending on welfare programs, including a controversial move to start cutting off direct assistance after five years. On a day that saw public protests at the John A. Wilson Building and sparring among […]
(Wall Street Journal) — President Barack Obama called the bipartisan tax agreement announced on Monday a “framework.” As yet there is no legislative language or even a comprehensive outline of the proposals, and its passage by Congress isn’t assured. But its broad parameters do address a range of tax issues that have been in question […]
(The BoomBox) — Hip-hop pioneer Doug E. Fresh owes the IRS a pretty penny, apparently failing to pay over $2 million in taxes. According the Detroit News, the beat boxer owes $2,276,848 million in taxes. In an attempt to collect on the hefty bill, the IRS filed a lien against Fresh with the New York City register’s […]
(Washington Post) — D.C. Council members are considering proposals to raise taxes on middle- and upper-middle-class residents, not just the wealthy, as they try to close a budget shortfall that they say will require deep cuts to social programs, potential layoffs or furloughs of city employees and new tax brackets. On Tuesday, the council will vote […]
The rich keep their tax breaks, unemployment payments are extended and payroll taxes are eased.
(New York Times) — With the federal government struggling to regain control over the nation’s deficit, a debate is emerging over the charitable deduction and other tax policies that support nonprofit groups. What began as a proposal by the Obama administration in 2009 to reduce the deduction has become a wide-ranging discussion of what was […]
Blacks and Latinos have found themselves the increasing subject of enforcement.
(New York Times) — More than 48,800 of the nation’s prisoners claimed $130 million in fraudulent tax refunds by March of this year, and the numbers are probably much higher, according to a new watchdog report. The IRS paid $112 million of the claims, a small fraction of the $326 billion in refunds so far […]