Posts Tagged ‘Taxes’
Posted by Liberty on February 3, 2009
I’m experiencing that feeling of deja vu this morning. Yet another Obama appointee has tax issues! Wow! Let me predict what is going to be said about performance czarina Nancy Killefer’s tax problem. “It was an honest mistake.” Or perhaps, “She had a little glitch with her Turbo Tax.”
“Ms. Killefer, 55 years old, failed to pay employment taxes on household help for a year and a half, the Associated Press reported. In 2005, the AP said, the District of Columbia filed a $946.69 tax lien on her home for failure to pay the unemployment compensation tax. The error was resolved five months later.”
Oh…the old employment taxes on the household help. Well, we’ve all had that problem, right? I couldn’t find the box on the 1040 for that one, either.
As it turns out, though, silly excuses probably won’t be necessary. Nancy Killefer is withdrawing her candidacy, saying that she doesn’t want her tax problems to be a distraction for the new administration. There goes the only Obama appointee [so far] who possessed an ounce of shame. Tom? Tim? What about you guys?
Oh, and one more thing. How badly would the MSM be savaging tax-challenged appointees to a Republican administration?
Posted in Arrogant politicians, Innate hypocrisy, Just plain dishonest, Liberalism, Main Stream Media, Obama, Slavish media bias, Taxes | Tagged: Killefer, Liberal hypocrisy, Media bias, MSM, Obama, Tax cheats, Taxes | Leave a Comment »
Posted by Liberty on January 15, 2009
Great article by National Review’s Byron York.
“Documents released by the Senate Finance Committee strongly suggest that Geithner knew, or should have known, what he was doing when he did not pay self-employment taxes in 2001, 2002, 2003, and 2004. After his failure to pay was discovered, first by the IRS and later during the vetting process, Geithner paid the federal government a total of $42,702 in taxes and interest.
The IMF did not withhold state and federal income taxes or self-employment taxes — Social Security and Medicare — from its employees’ paychecks. But the IMF took great care to explain to those employees, in detail and frequently, what their tax responsibilities were. First, each employee was given the IMF Employee Tax Manual. Then, employees were given quarterly wage statements for the specific purpose of calculating taxes. Then, they were given year-end wage statements. And then, each IMF employee was required to file what was known as an Annual Tax Allowance Request. Geithner received all those documents.
The tax allowance has turned out to be a key part of the Geithner situation. This is how it worked. IMF employees were expected to pay their taxes out of their own money. But the IMF then gave them an extra allowance, known as a “gross-up,” to cover those tax payments. This was done in the Annual Tax Allowance Request, in which the employee filled out some basic information — marital status, dependent children, etc. — and the IMF then estimated the amount of taxes the employee would owe and gave the employee a corresponding allowance.
At the end of the tax allowance form were the words, “I hereby certify that all the information contained herein is true to the best of my knowledge and belief and that I will pay the taxes for which I have received tax allowance payments from the Fund.” Geithner signed the form. He accepted the allowance payment. He didn’t pay the tax. For several years in a row.”
Honestly…is this the best we can do for Treasury Secretary? A tax cheat?
Posted in Just plain dishonest, Liberalism, Obama, Taxes | Tagged: Geithner, Obama, Taxes | Leave a Comment »
Posted by Liberty on December 29, 2008
“Even as the industry struggles with massive losses, the UAW brass continue to own and operate a $33 million lakeside retreat in Michigan, complete with a $6.4 million designer golf course. And it’s costing them millions each year.”
“But the Black Lake club and retreat, which are among the union’s biggest fixed assets, have lost $23 million in the past five years alone, a heavy albatross around the union’s neck as it tries to manage a multibillion-dollar pension plan crisis.”
And the UAW is a heavy albatross around the auto companies’ necks. And the bailout is a heavy albatross around the taxpayers’ necks.
Posted in Liberalism, Union Thuggery | Tagged: Bailout, Taxes, UAW, Union | Leave a Comment »
Posted by Liberty on December 22, 2008
“After Japan’s asset bubble burst in the late 1980s, their economy took a sharp downturn, prompting government officials to try bailing out banks and investing in infrastructure, much like the activity and proposals floating around America today. The results were terrible.
With the government propping up poor business models rather than allowing further job losses, firms wound up operating over the long-term without making a profit or adding any value to society. Their utter lack of vitality earned these perpetual money-leaching entities the moniker ‘zombie businesses.’ And unless American policymakers understand the failures of the Japanese response, we will suffer the same zombie fate.”
Check out this article in Reason Magazine today that foreshadows the consequences that we’re likely to face in return for passing out government bailouts like Halloween treats. Ding dong, here’s $700 billion. Japan has dealt with a similar economic crisis and they made significant errors that prolonged the problem. We’re headed down that same road and I predict that Japan’s errors will be our errors.
“First mistake. The Bank of Japan tried to ease economic pains during their downturn through the 1990s by loaning large amounts of money to businesses. However, such attempts to recapitalize the market were counteracted by underlying management problems endemic to the dying firms.”
“Second mistake. With all those loans, the Japanese government was simply too integrated into the market to have adequate incentives to create the right policies. Daniel Okimoto, former director of the Asia-Pacific Research Center, points out that the interests of Japan’s economic bureaucracies, such as the Ministry of Finance, became interdependent with the banking industry.”
“Third mistake. The length of Japan’s asset deflation, recession, and liquidity struggles has been blamed largely on the lack of foresighted policies and political leadership. Politicians bent on retaining their power took action that sought to solve the present day concerns, such as infrastructure projects, without regard to their long-term effects. As a result, economic growth was not sustained.”
“Fourth mistake.Japan tried to climb out of its economic mess by raising taxes and cutting interest rates. Okimoto cites a series of policy mistakes in a report on Japan’s economic stagnation that includes a consumption tax hike, business taxes, and heavy-handed reliance on interest rate cuts that reduced investment incentives.”
Are you getting my drift here?
“Fifth mistake. With the Japanese government enabling lending to zombie businesses, taking cash away from productive ventures, and passing tax laws and other regulations that did not promote growth, the private sector was actively discouraged from investing.”
I encourage you to read the whole article–Anthony Randazzo has done his research. Clearly our politicians have not.
Posted in Conservatism, Obama, Redistribution of wealth, Taxes | Tagged: Bailout, Economy, Japan, Obama, Reason Magazine, Taxes | 3 Comments »
Posted by Liberty on December 16, 2008
With the Washington State legislative session coming up in January and budget issues aplenty, it’s more important than ever to pay attention to what’s happening in Olympia. Washington Policy Center is a think-tank that centers on finding free market solutions to the problems our state is facing. They have a lot of their research posted on their website.
This week, on the WPC blog, Jason Mercier has compiled a list of ideas to help the state fix the budget. He took the suggestions submitted to Governor Gregoire [remember that? I blogged it on November 17] and compiled a master list of sorts. There are some terrific ideas on this list and thanks to Jason for sorting through the raw information to find them. I hope that Governor Gregoire will study these suggestions in earnest.
Posted in Redistribution of wealth, Taxes, Washington State | Tagged: Budget, Queen Christine, Taxes, Washington State | Leave a Comment »
Posted by Liberty on December 16, 2008
“True to her campaign promise, Gov. Chris Gregoire plans this week to release a balanced budget that does not rely on new taxes to deal with a $5.8 billion deficit.
But that doesn’t mean taxes won’t be increased. And lawmakers could raise them without breaking Gregoire’s promise, provided voters go along with the idea.”
So on the one hand, we hear continuously about how bad the economy is and how people are signing up for food stamps, clearing out the food banks and getting behind on the mortgage. But…our esteemed legislators consider raising taxes an option.
Posted in Arrogant politicians, Liberalism, Redistribution of wealth, Taxes | Tagged: Arrogance, Arrogant politicians, Redistribution of wealth, Taxes | Leave a Comment »
Posted by Liberty on December 12, 2008
Look out! Dan Grimm says sales tax on services would help fund education changes!
“The chairman of a legislative task force exploring how to improve the way the state pays for K-12 education says a tax increase is the responsible way to pay for the roughly $3 billion worth of ideas in the group’s final report.
Dan Grimm, a former state legislator from Puyallup as well as a two-term state treasurer, said Thursday that he was inspired by a phone call and letter from Gov. Chris Gregoire to propose an extension of the sales tax to services. That would make things such as doctor’s visits and financial advice subject to sales tax.”
If this governor “inspires” anything in me, it’s a desire for a Boston Tea Party-style tax revolt! When will it be enough?
Luckily, there is a website for the Basic Education Finance Task Force. I’ll be contacting them to voice my opposition to more taxes for public education. Dan Grimm, the task force chair, can be reached at firstname.lastname@example.org. The full contact list is here. Public schools in Washington State already get lottery money, timber money, money from the general fund, federal funding, as well as local bonds and levies. The problem is how schools choose to spend the money, not that Washington taxpayers don’t pay enough. In light of the weak economy, it would be highly irresponsible for the legislature and Queen Christine to force any more taxes upon the already over-taxed State of Washington!
Posted in Public education, Redistribution of wealth, Taxes, Washington State | Tagged: Arrogance, Public education, Queen Christine, Taxes, Washington State | Leave a Comment »
Posted by Liberty on December 9, 2008
“Nearly 80 percent of job openings in Washington last year paid less than a living wage for a single parent with two children.”
These were the findings of Gerald Smith, associate director of the Northwest Federation of Community Organizations.
“Among other strategies, the study advocated for taxpayer support for economic development; more investments in training, education and apprenticeships; increased wage progression; and use of living wage figures to set wage policies and determine eligibility for public assistance.”
The very concept of a “living wage” is a nebulous thing. It depends a lot upon the relationship between needs and wants that we all struggle with. I think we also need to be very careful about what these groups might really stand for and what their genuine agenda may be before giving their findings any credibility. They certainly seem to support redistributive policies and government dependence, which will only lower the standard of living for more people.
Coincidentally, Queen Christine met with business leaders to troll for ideas on fixing Washington State’s economy.
Governor Gregoire, I’ll give you one hint: redistributing wealth, increased wage progression and the use of living wage figures to set wage policies is how NOT to help Washington’s economy. Cutting taxes and getting the state government out of the lives of business owners and citizens alike is what we all desperately need.
Posted in Liberalism, Redistribution of wealth, Taxes, Washington State | Tagged: Living wage, Queen Christine, Redistribution of wealth, Taxes, Washington State | Leave a Comment »
Posted by Liberty on December 2, 2008
“Rep. Louie Gohmert (R-Texas), a member of the conservative House Republican Study Committee, proposes to use the $350 billion left of the $700 billion bank bailout to fund a two-month tax holiday that would put money in the pockets of American taxpayers.”
Unfortunately with a Democrat president-elect and the Democrat controlled Senate and House, Gohmert’s plan may be a long shot. Obama only favors “tax cuts” when they’re for people who don’t pay any federal income tax.
Posted in Redistribution of wealth, Taxes | Tagged: Redistribution of wealth, Taxes | Leave a Comment »
Posted by Liberty on December 2, 2008
“Dennis Thomas has lived on his five-acre property near Concrete for 35 years. He figures his assessment has gone up more than 50 percent in two years. Officials from the Assessor’s Office have claimed that rural five-acre lots like Thomas’ remain in high demand, which would partially explain the increase.
‘I think that would be debatable if you talk to any of the Realtors up here,’ Thomas said. Anything in the $200,000 to $400,000 price range “is absolutely not moving,” he said.”
Apparently I wasn’t the only one surprised by Skagit County’s valuation of my property. This article goes on to say that they have already received hundreds of appeals. The last day to appeal your assessment is December 5. The Skagit County Assessor’s website has tax information and a link to the appeal form.
Posted in Skagit County, Taxes | Tagged: Property, Skagit County, Taxes | Leave a Comment »
Posted by Liberty on November 26, 2008
“Olympia might be the first city in Washington to use a state law that allows a $20 fee on vehicle registrations without a public vote.”
Property taxes, sales taxes, sin taxes, fuel taxes, fees, fines, licenses…when are the people of Washington State going to finally say, “NO MORE!” If memory serves, Washington voters passed an initiative limiting vehicle tabs to $30.00. The arrogance of government bureaucrats is simply appalling.
Posted in Taxes, Washington State | Tagged: Government bureaucrats, Taxes, Washington State | 2 Comments »