Posted by The Foundry on January 4th, 2012 | Categorized as Network Posts | Tagged as cash for clunkers, epa, irs
The straight text of the U.S. tax code exceeds 5,000 pages. Throw in the annotations necessary to actually decipher the thing and it swells beyond 72,000 pages. (Instructions for filing the “EZ” form run 41 pages.) All of which will yield a whopping $2.6 trillion in federal tax receipts (estimated) for 2012. So, naturally, the Internal Revenue Service (IRS) has concocted new regulations that make the preparation of tax returns even more difficult and costly. The new rules require tax preparers who aren’t lawyers or Certified Public Accountants to obtain … More
Posted by The Foundry on October 17th, 2011 | Categorized as Network Posts | Tagged as deficit, epa, irs, republic, taxes
President Obama is fond of saying he hasn’t raised anyone’s taxes. How soon he forgets the $500 billion tax hike in his health care law. Obamacare raised 18 separate taxes and included a brand new 10 percent excise tax on tanning beds. The tanning bed tax started in July 2010. The Internal Revenue Service (IRS) should have little trouble collecting this ridiculous tax. It already collects several other excise taxes on things like alcohol, tobacco, and gas. And the federal government has collected excises since the beginning of the republic. … More
Posted by The Foundry on May 25th, 2011 | Categorized as Network Posts | Tagged as deficit, inflation, irs, stimulus, taxes, Tom Coburn
President Obama has some explaining to do. The Government Accountability Office (GAO) yesterday revealed that 3,700 federal contractors — who were recipients of $24 billion dollars in stimulus funds — are tax evaders. In total, they owed the government at least $757 million dollars – probably more since the IRS databases don’t include those who…
Posted by The Foundry on November 18th, 2010 | Categorized as Network Posts | Tagged as irs, taxes
Government employees owe $3.3 billion in back taxes, CNBC reports.
According to Heritage Foundation fellow James Sherk, the typical federal worker “receives 22 percent more in wages than an equally skilled private sector worker … .” And, says Sherk, when both wages and benefits are toted up, federal workers are overpayed by $40 billion to $50…
Posted by Shane on August 27th, 2009 | Categorized as Economy | Tagged as deficit, epa, federal reserve, free competition in currency act, inflation, irs, legal tender, taxes, us mint
How can legal tender be illegal? Robert Kahre is facing up to 296 years in prison. His crime? He hired workers on mutually-agreed terms, and paid them in gold and silver dollars rather than in Federal Reserve dollars. First, some background . . . * The face value of the U.S. Mint’s gold and silver…