Factbites
 Where results make sense
About us   |   Why use us?   |   Reviews   |   PR   |   Contact us  

Topic: Tax reform


Related Topics

In the News (Fri 27 Nov 09)

  
  Ohio Tax Reform | Ohio Department of Development
The main feature of the tax reform plan is a 21 percent reduction in the Ohio income tax rate schedule.
In addition, the tax reform plan calls for the re-establishment of an accumulated trust income tax, the development of a new higher education grant program and the implementation of a new low-income tax exemption program.
The Ohio tax reform plan calls for the implementation of a replacement business tax to help replace forgone state and local revenue resulting from the elimination of the tangible personal property tax on general businesses.
www.odod.state.oh.us /taxreform.htm   (734 words)

  
 Independent Sector | Public Policy -- Estate Tax
A measure (H.R.) that would have amounted to a near-repeal of the estate tax was defeated in the Senate on August 3, 2006 after proponents failed to gain the 60 votes needed to end debate on the bill.
Independent Sector supports reform of the estate tax, but is opposed to repeal of this tax that provides strong incentives to leave a legacy to charity.
A suitably modified estate tax is also good for society, insofar as it serves to check the accumulation of vast sums of inherited wealth in the hands of a very few.
www.independentsector.org /programs/gr/estatetax.html   (1372 words)

  
 Two Choices for Tax Reform
They may seem different, but the flat tax and the sales tax are different sides of the same coin: The flat tax takes a small slice of your income as it's earned; the sales tax takes a small slice of your income as it's spent.
Adoption of the flat tax or a national sales tax also would end the discriminatory treatment caused by a tax code that grants preferences or imposes penalties on certain behaviors and activities.
As a result, national sales taxes have been used to finance a big expansion in the size of government — which helps to explain why so many European nations are economically stagnant.
www.heritage.org /Press/Commentary/ed081104a.cfm   (711 words)

  
 Tax Reform 2000 - End the Inflation Tax   (Site not responding. Last check: 2007-10-22)
A careful Examination how Income Tax Revenue is collected indicates both the promise and the problems we must overcome to acheive a flatter and fairer tax.
The top two curent tax brackets - 36 percent and 39.6 percent are imposed on the small businesses and the self employed, who provide over one half the jobs in America.
It is possible to raise the top of the 15 percent tax bracket to $100,000 for these taxpayers with only a minimum reduction in revenue.
www.taxreform2000.org /article.htm   (587 words)

  
 Tax Reform Act of 1986 - Wikipedia, the free encyclopedia
Although often referred to as the second of the two "Reagan tax cuts" (the Kemp-Roth Tax Cut of 1981 being the first), the bill was actually officially sponsored by two liberal Democrats, Richard Gephardt of Missouri in the House of Representatives and Bill Bradley of New Jersey in the Senate.
An existing provision in the tax code, called Income Averaging, which reduced taxes for those only recently making a much higher salary than before was eliminated.
The Low-Income Housing Tax Credit was hastily added to the Act to provide some balance and encourage investment in multifamily housing for the poor.
en.wikipedia.org /wiki/Tax_Reform_Act_of_1986   (547 words)

  
 TCS Daily - Tax Reform 101
At that moment, we can expect the debate about tax reform to reignite, which is a good thing, because the possible benefits of tax reform are impressive.
Tax reform is at times complicated business, but it need not be.
If we allow businesses to subtract wages before they calculate their tax liability, and charge individuals a tax on their wages at the same rate the business pays, then we have something that is mathematically identical to a VAT.
www.tcsdaily.com /article.aspx?id=042605B   (780 words)

  
 Tax Reform: Political Leaders' views   (Site not responding. Last check: 2007-10-22)
Be fair and eliminate death taxes for everyone.
Voted YES on increasing tax deductions for college tuition.
Don’t promise tax cuts from future surpluses we may not have.
www.issues2000.org /Tax_Reform.htm   (1132 words)

  
 Tax Reform
Under the current tax system, a housewife can enter the labor market in a minimum-wage job and be taxed at a 40 percent marginal tax rate because of her husband's earnings.
Because there is only one tax rate, because the only exemption is a personal allowance and because all income is taxed only once, the flat tax removes distortions of the current tax system that prevent resources from being allocated to their highest valued use.
Since the excess burden is part of the tax burden, it stands to reason that to the extent there are economic and political limits to taxation they apply to the total cost of the tax system, including the excess burden.
www.ncpa.org /pi/taxes/taxbook/taxbook10.html   (10226 words)

  
 Tax change proposals to set off howls of protest - Tax Tactics - MSNBC.com
And as the political battle begins, changes that would rearrange billions of dollars of tax burden among individuals, small businesses and corporations are about to touch off a round of much louder howls of protest.
The last time Congress tackled the morass of federal tax rules, the Tax Reform Act of 1986 cleared away decades of underbrush of deductions, credits, and other goodies narrowly targeted to select groups of well-heeled beneficiaries.
Then, as now, the goal of tax reform was to eliminate these special provisions, making the already painful task of paying taxes simpler, fairer and less burdensome on both individuals and businesses.
www.msnbc.msn.com /id/9888253   (962 words)

  
 AEI - Short Publications   (Site not responding. Last check: 2007-10-22)
With tax reform, we can do away with a separate AMT--either by broadening the base of the current income tax or starting with the AMT base and adding reforms.
But for reform to maintain the same flow of tax receipts, tax reductions for saving and investment and repeal of a separate AMT require changes to offset those hits.
To reform the AMT and maintain deductions for home mortgage interest and charitable giving, as the President's panel is trying to do, lawmakers need to find more ways to generate revenues.
www.aei.org /publications/filter.all,pubID.22559/pub_detail.asp   (746 words)

  
 Fair Tax Reform
Net tax rate for the Poor at the poverty line is 0%, for the middle class at twice the poverty line is 11.5%; for 4 times poverty line 17.2% and the more you spend your net rate is between 20 and 23%.
The Fair Tax meets requirements set by President Bush when he said, "simplify" the tax code in a way that is fair, does not raise or lower the overall tax burden and better promotes "long-run economic growth and job creation." It also meets his standard for promoting Home ownership and Charities.
Similarly, on Tax Reform, you proposed it in your 2005 State of the Union, and put a decision off to a Presidential Panel that delayed and delayed its scheduled report.
fairtaxreform.blogspot.com   (8528 words)

  
 Online NewsHour: Tax Reform -- April 15, 1998
The reason for the complexity is not simply that the tax code is used to conduct all sorts of social programs and economic programs but giving things that the American people as voters ask their representatives to give them.
Lower income people under a national retail sales tax, lower income people would pay a higher rate of tax as a percentage of their income, and that would continue to be true up to income levels of about $75,000.
Although some sales taxes have that problem, if you study, for instance, the fair tax, you can build a tax, the fair tax, for instance, that is as progressive as the current system.
www.pbs.org /newshour/bb/fedagencies/jan-june98/tax_4-15.html   (2002 words)

  
 Radical Tax Reform   (Site not responding. Last check: 2007-10-22)
The tax system is unfair and inefficient, and fails to generate enough revenue to cover government expenditures.
But most government revenues originally came from excise taxes on luxury items such as tobacco, spirits, and sugar, and throughout much of the nineteenth century the bulk of federal revenues came from tariffs on imported manufactured goods.
In fact, the federal income tax, which we tend to think of as an eternal fixture, was introduced as an emergency measure during the Civil War, and did not become permanent until the Sixteenth Amendment was ratified, in 1913.
www.theatlantic.com /issues/2004/01/macguineas.htm   (251 words)

  
 Issues Summary - TAX REFORM   (Site not responding. Last check: 2007-10-22)
Today, however, the tax falls most heavily on married couples with children and who earn between $75,000 and $200,000 a year, and who live in states with high income and/or property taxes.
NAR notes that the homeownership tax provisions are among the most widely used and most readily understood tax provisions.
The centerpiece of the Panel's proposals is the conversion of the mortgage interest deduction from a deduction to a 15% tax credit and a reduction of the $1 million cap on mortgages to the local FHA loan limit.
www.naractioncenter.com /keyissues/tax-reform.html   (519 words)

  
 California Tax Reform Association
Tax Policy for the 21st Century: Resolving California’s Long-Term Structural Deficit
No one likes taxes.  Yet there is a broad consensus, dating back to at least the 1950’s, that a healthy public sector is a critical part of California’s long-term sucess.
The ability of California’s public sector to respond to the demands of growth is front and center in the political debate.
www.caltaxreform.org   (377 words)

  
 Greenspan supports tax overhaul - Mar. 4, 2005
Based on the reform panel's initial meetings, serious consideration is being given to a consumption tax.
In prepared remarks to the panel Thursday, Greenspan backed the notion of simplifying the tax code and suggested that a move away from the current income tax in favor of a system that taxes based on the money individuals spend -- not what they save -- could be an effective way to promote economic growth.
For one thing, to ensure that government tax coffers remain full, the sales tax rate would have to be high -- some say in the range of 27 percent or so.
money.cnn.com /2005/03/03/news/economy/tax_reform/index.htm?cnn=yes   (1036 words)

  
 Ohio Department of Taxation   (Site not responding. Last check: 2007-10-22)
Governor Bob Taft has incorporated a significant reform of the tax code in Ohio as part of the Fiscal Years 2006-2007 state budget he introduced on February 10.
The governor has declared tax reform a top priority and one critical to making Ohio economically competitive with surrounding states and improving the conditions for business growth and employment.
on the impact of the current tax system on Ohio's economy and an overview of the Governor's five-year tax reform plan (House Finance and Appropriations Committee, February 14, 2005).
tax.ohio.gov /divisions/communications/tax_reform_in_Ohio.stm   (324 words)

  
 Tax reform report: Kill AMT... and some breaks - Nov. 1, 2005
The AMT is a parallel tax system originally intended to ensure the wealthy pay their fair share of taxes by eliminating many of the deductions and credits available under the regular income tax system.
As a result, the panel had to take a hard look at the tax breaks offered under the current system to see where they could make up for that lost revenue, while at the same time ensuring a new tax code was fairer and more growth oriented than the current one.
Under their second proposal, which combines the income tax with a progressive consumption tax, there would be only three tax brackets: 15 percent, 25 percent and 30 percent.
money.cnn.com /2005/11/01/pf/taxes/tax_proposals/index.htm   (1721 words)

  
 Camp Tax Reform   (Site not responding. Last check: 2007-10-22)
Although we didn't win tax reform, Jason Bell, a new TFT member and lead organizer of the event was optimistic.
The Associated Press reported on July 3rd: "Camp Tax Reform is on the site where conservative talk radio hosts Steve Gill and Phil Valentine use to broadcast their morning shows during legislative sessions....
But after Camp Tax Reform put down stakes, there was a noticeable lull in the anti-tax protests.
www.yourtax.org /news/2002camptaxreform.php3   (707 words)

  
 Tennessee Tax Reform Facts
The sales tax is UNFAIR to middle- and low-income families.
In fact, it finds little grounds to support tax cuts and incentives, especially when they occur at the expense of public investment, as the best means to expand employment and spur growth.
Bringing this home, Tennessee's current status of being 49th in state and local taxes per capita is not a good business recruitment strategy when it comes at the expense of education and other public services vital to creating a healthy business climate.
www.yourtax.org /facts/index.php3   (448 words)

  
 Tax Reform 2000   (Site not responding. Last check: 2007-10-22)
Rather than wait for Congress to devise the perfect tax reform, we propose to reform the tax code one tax form at a time.
Using the 1040EZ and 540EZ short forms as a basis, we show how over 70% of taxpayers could be offered a simple six line tax form that it is voluntary.
We follow up with a series of simple common sense reforms which could provide a 10% flat rate tax for those who chose to use it.
www.taxreform2000.org   (146 words)

  
 President's Advisory Panel on Federal Tax Reform
For millions of Americans, the annual rite of filing taxes has become a headache of burdensome record-keeping, lengthy instructions, and complicated schedules, worksheets, and forms — often requiring multiple computations that are neither logical nor intuitive.
The President's Advisory Panel on Federal Tax Reform does not endorse the products or services provided by the host for this webcast or by any other company.
On January 7, 2005, President Bush announced the establishment of a bipartisan panel to advise on options to reform the tax code to make it simpler, fairer, and more pro-growth to benefit all Americans.
www.taxreformpanel.gov   (222 words)

  
 AEI - Books   (Site not responding. Last check: 2007-10-22)
With tax reform once again on the political agenda, the American Enterprise Institute asked nine of the world’s leading tax policy scholars, including a Nobel Prize winner, to prepare papers outlining their own ideas about fundamental tax reform.
Toward Fundamental Tax Reform collects these landmark papers in a single volume and includes two additional chapters by the editors that draw on a lively interplay that occurred among the scholars.
Together, these efforts provide an invaluable and often entertaining glimpse of the future of tax reform, as well as a guide to the current thinking of our nation’s leading scholars.
www.aei.org /books/bookID.820/book_detail.asp   (461 words)

  
 Idahoans for Tax Reform
It is a perfect article to send to your friends, especially those who don't quite know how to break free of their political correctness indoctrination foisted on them by the government schools and mainstream media.
Laird Maxwell, chairman of Idahoans for Tax Reform said, "In both reports, Dr. Wenders finds the teacher's union and their supporters spreading disinformation by misreporting portions which perpetuate the myths that teachers are in short supply and are underpaid.
The "teacher shortage" claim is an old canard put forth by the local and national teacher's union and their supporters to frighten parents and taxpayers into paying for ever expanding school budgets.
idtaxreform.com   (1391 words)

  
 Tax Reform Australia
The Tax Reform Australia website is designed to educate and inform policy makers and the general public on the relative advantages and disadvantages of different taxation systems and methods of deriving public finance.
It is a practical website, dealing mainly with economic terms and the factors of production (i.e., land, labour and capital) rather than accounting and organisational terms (e.g., income tax, company tax, property tax).
It describes the different taxes in Australia, their effects and follows with the view of economists.
www.taxreform.com.au   (231 words)

  
 Ohio Department of Taxation   (Site not responding. Last check: 2007-10-22)
This reform of Ohio tax law affects most Ohio business and Ohio income taxpayers.
Among the changes are an income tax cut, the phase-out of the tangible personal property and corporation franchise taxes, the elimination of a 10 percent tax rollback on real property classified as commercial, and the introduction of a new low-rate, broad-based Commercial Activity Tax (CAT) on a business's gross receipts.
CAT 2006-01 Applicable Excise Tax Rates for Purposes of the Commercial Activity Tax, Issued January 2006
tax.ohio.gov /divisions/communications/cat_other_tax_law_changes.stm   (663 words)

  
 Americans for Tax Reform
The Economic and Fiscal Impact of the 2003 Tax Cut
"I'm not for increasing taxes to increase spending on anything no matter how meritorious it is. It's a bad precedent.
Any candidate against extending the tax cuts wants you to pay this much more in taxes per year: (click here to find out)
www.atr.org   (615 words)

  
 Americans For Fair Taxation - FairTax.org
The FairTax Plan is a nonpartisan national grassroots campaign to replace the federal income tax system with a progressive national retail sales tax.
It provides a "prebate" to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue replacement and, through companion legislation, repeal of the 16th Amendment.
Taxing Sales under the FairTax: What Rate Works?
www.fairtax.org   (131 words)

Try your search on: Qwika (all wikis)

Factbites
  About us   |   Why use us?   |   Reviews   |   Press   |   Contact us  
Copyright © 2005-2007 www.factbites.com Usage implies agreement with terms.