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April 14, 2013

In case you didn’t have a 1913 edition of the income tax forms lying around, here’s the full thing. It’s just four pages. (via Fark)

14:54 // 1 year ago
April 7, 2013

Bobby Jindal’s plan to kill Louisiana’s income tax hits a major snag

  • cause In recent weeks, Louisiana Gov. Bobby Jindal, a Republican who is expected to run for president in 2016, has been pushing a bold tax plan in his state that would eliminate income taxes entirely on individuals and corporations, in an effort to make the state more desirable for businesses. To make up for the loss of income, the state’s sales taxes would jump by 56 percent, the cigarette tax would jump significantly and a number of tax loopholes would be closed.
  • reaction Jindal’s popularity has tanked. With a 38 percent approval rating in the state, President Barack Obama is now a more popular figure in the conservative Louisiana. Why’s that? Well, two reasons: First, the sales tax increase is seen as hitting the poor more than the rich (though Jindal says there will be tax credits available for low-income residents); and second, many residents see it as a transparent scheme to shore up Jindal’s credentials with conservatives outside of Louisiana before running for president. Many of those polled also note that he’s been out of the state a lot lately. source
12:16 // 1 year ago
October 5, 2012

Mitt Romney says his 47% remarks were “completely wrong”

  • september When the 47% video leaked last month, Romney said that his comments were “not elegantly stated.” However, he stood by the sentiment behind them:  ”I recognize that those people who are not paying income tax…those that are dependent upon government…I’m not gonna get them.” 
  • october Today, Romney denounced the comments entirely. “I said something that’s just completely wrong,” he told Sean Hannity. “My life has shown that I care about 100 percent. And that has been demonstrated throughout my life. And this whole campaign is about the 100 percent.” source
1:45 // 1 year ago
June 7, 2012
Tax refugee? Singer Lauryn Hill faces unpaid tax charges
Former Fugees singer and solo artist Lauryn Hill faces federal charges for failing to file her taxes for three straight years, from 2005-2007. According to federal prosecutors, Mrs. Hill earned more than $1.6 million during that time. If convicted of the charges, Mrs. Hill could face up to $100,000 in fines and a maximum sentence of one year in prison. Hill, who has toured somewhat heavily in recent years, hasn’t released a new studio album since her 1998 debut. (Photo via TonyFelgueiras) source
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Former Fugees singer and solo artist Lauryn Hill faces federal charges for failing to file her taxes for three straight years, from 2005-2007. According to federal prosecutors, Mrs. Hill earned more than $1.6 million during that time. If convicted of the charges, Mrs. Hill could face up to $100,000 in fines and a maximum sentence of one year in prison. Hill, who has toured somewhat heavily in recent years, hasn’t released a new studio album since her 1998 debut. (Photo via TonyFelgueiras) source

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17:52 // 1 year ago
October 9, 2011

Some among upper-middle class don’t pay income taxes, either

  • 4,025 number of people among the $75,000-$100,000 tax bracket who didn’t pay income taxes in 1996
  • 476,624 number of people among the same tax bracket who didn’t pay income taxes in 2009 … wait a second source

» Beyond numbers, into percentages: Now, if you break this down by percentages among tax brackets, it’s still a fairly small number — 1 percent of the total number, versus 76 percent of people who made less than $25,000. But there’s a difference here — the people making between $75,000 and $100,000 can generally afford to pay taxes, and they’re the largest-growing group of the bunch. Now, what’s the reason for all this? Well, between 1996 and 2009, a couple of presidents (whom you might know as Bush and Obama) enacted a series of changes to the tax code which effectively made it possible for more people to receive tax cuts that whittled the amount owed down to nothing. They most likely pay taxes in other ways — payroll and sales tax, for example — however. Force them to pay, you take money out of the pockets of the poor. So, what’s the balance?

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22:45 // 2 years ago