Last Tuesday, President Obama delivered a speech in Chattanooga, Tennessee, outlining his long awaited corporate tax reform. The speech called for a revenue-neutral corporate tax reform that lowers the top corporate tax from 35% to 28% for the majority of businesses. Manufacturers’ tax rate will top-out at 25%. President Obama made a statement that the … Continue reading
In early June, a coalition of urban and rural politicians in the Senate banded together to pass the Farm bill, a legislative piece that distributes welfare benefits to an unlikely pair: wealthy agro-businesses and the inner-city poor. Although widely popular among constituents, a common sense look at the bill reveals serious flaws. The Senate’s version … Continue reading
Last week was a big week on the hill, with many high profile hearings. One such hearing that was followed closely was the investigation of Apple. Apple has been accused of evading taxes, but they have apparently found a loophole in the corporate tax code. Apple set up subsidiary accounts in Ireland for its international … Continue reading
It’s been a tough May for Federal Agencies. Amid a backdrop of scrutiny over potential regulatory missteps in the Texas fertilizer plant explosion, accusations of document concealment at the Environmental Protection Agency, and lengthy congressional hearings into State Department action in the aftermath of the Benghazi terror attacks, the Internal Revenue Service (IRS) finished this … Continue reading
The White House finally released the President’s FY 2014 budget proposal last week. Not only has it garnered the media’s attention due to the fact that President failed to keep his deadline (more than two months late) but also both the Democrats and Republicans are equally unsatisfied with the President’s proposal. Here are some key … Continue reading
On March 19th-21st, the Subcommittees on Communications and Technology, Health, and Oversight and Investigations under the Energy and Commerce Committee conducted a series of hearings to evaluate the role of technology in healthcare and to examine the potentially harmful federal regulations impacting patient safety and innovation. Following the hearing series on March 21st, the Senate … Continue reading
The cost of health care is high. There are several news reports and analyses being released by various organizations about the cost of the healthcare as a result of the ACA. The American Action Forum analyzed a report conducted by the Manhattan Institute, which has graded the ACA based on cost containment and premium increases. … Continue reading
What are your thoughts about a federal tax on sugary drinks (ie. Soda, energy, and sports drinks)? The Field Poll, a non-partisan media-sponsored public opinion news service, found an interesting result in their survey of Californians’ views on the tax on sugary drinks. Approximately 40 percent of California residents voted in support of a soda … Continue reading
Last Thursday, Treasury Secretary Tim Geithner presented Congress with the Obama administration’s plan intended to avert the impending fiscal cliff. The plan was, quite literally, laughable. It called for $50 Billion in new stimulus spending, the end of Congressional authority to raise the debt limit, $1.6 Trillion in new revenues from higher taxes on the … Continue reading
The impending American debt crisis has almost nothing to do with taxes. If the Democrats get their way on the expiration of the high-end Bush tax cuts, roughly $65 Billion in revenue would be raised (assuming that this tax increase would have zero negative effect on economic growth – a disputable point, to be sure). … Continue reading
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