taxes

Average American Taxpayer Sent $3,456 to the Pentagon Last Year

(CD) — As Americans rushed to pay their taxes on Tuesday before the official deadline, peace groups reminded the public of the uncomfortable fact that an “astronomical amount” of the money sent to the IRS each year goes not to funding education or a single-payer healthcare system the U.S. supposedly can’t afford, but straight into the bloated coffers […]

A Timely Tale of Taxes and Toys ‘R’ Us

The orthodoxy that dominates today’s Republican Party — and the ranks of “business-friendly” Democrats — rests on a simple approach to economic policy. Let’s be nice, this orthodoxy holds, to rich people.
Let’s be particularly nice at tax time. Let’s keep taxes on rich people, conservatives advise us, as low as possible. High taxes on high incomes, they argue, discourage entrepreneurship. No one with a great idea for a new business enterprise is going to start that business, their argument goes, if Uncle Sam is just going to tax away the rewards that a new business could bring.

Financial Disaster: New Jersey Prepares to Raise Taxes on ‘Almost Everything’

(ZHE) — Last week we noted that in what was a radical U-turn to what other public pension funds have been doing in recent years – most notably Calpers  – the struggling New Jersey public pension system decided that instead of lowering its expected rate of return, it would raise it, from 7% to 7.5%. The simple reason behind this odd […]