Stock questions? Ask Matt May 18, 2009
A: Lending money to cities, states and local government agencies used to be a good move for investors in high tax brackets. That's made municipal bonds attractive investments for years. (USA Today -- Money)
Maine state workers may see 5 percent pay cut May 15, 2009
Also still under discussion were revenue-raising proposals that would suspend the inflation-related indexing of state income tax brackets and allow the state to deviate from the federal standard deduction. Ads by Google. (Seacoast New Hampshire)
Obama seeks estate tax hike May 12, 2009
The Obama administration also revived a proposal to cap itemized deductions at no more than 28 percent of income for taxpayers in the top two tax brackets. Officials recalculated the revenue that would raise, about $267 billion, down from an earlier $320 billion forecast. (India Times)
Don’t ask, don’t tell, but change is coming May 10, 2009
This places the median gay housaehold income well into the highest tax brackets, while at the same time denying a good number of the deductions that non gay couples get to take. This is a fact not lost on many of the Fortune 500 companies who dont care much about the sexual orientation of those who spend dollars on the products and services they offer. (Atlanta Journal-Constitution -- Opinion)
Investment in times of deflation Apr 17, 2009
If your horizon is between 1-2 years and you fall in the higher tax brackets, fixed maturity plans (FMPs) could be a good bet. Interest earned on fixed deposits falls under the Income from Other Sources category and hence would be taxed at the slab rates applicable to you. (India Times)
Letters for Sunday, April 12, 2009 (966) Apr 14, 2009
The article also states that ;those in lower tax brackets could get a tax cut and the state would still get more money. With or without a tax cut for lower income brackets, the state will certainly get more money. (Lihue Garden Island, HA)
Income tax breaks move forward Apr 8, 2009
The bill that the Senate approved would reduce the state's five income tax brackets. The legislation would cut the lowest personal income tax from 2. (Bismarck Tribune, ND)
BEND OVER & SMILE FOR UNCLE SAM Apr 4, 2009
Not only should we get rid of payroll taxes, let's get rid of tax brackets (or, in a brief nod to reality, reduce the number of them). The top half of earners already pay something like 96 percent of all income taxes. (New York Post -- Opinions)
Legislator offers proposal to raise taxes on the rich Apr 4, 2009
By increasing the 10 percent income tax lid to 11 percent for those making more than $150,000 and to 12 percent for those making more than $200,000, Say figures that those in lower tax brackets could get a tax cut and the state would still get more money ... By increasing the 10 percent income tax lid to 11 percent for those making more than $150,000 and to 12 percent for those making more than $200,000, Say figures that those in lower tax brackets could get a tax cut and the state would still... (Honolulu Star-Bulletin)
N.Y. legislature misses budget deadline Apr 1, 2009
Millions of dollars in union-paid ads, an influential left wing of the Democratic Party and the loss of Republican control of the state Senate contributed to an overhaul of Reagan-era income tax brackets under a 2009-10 budget totaling $131. 8 billion to be adopted Tuesday. (Insight on the News)
It's a deal: $131.8B Mar 30, 2009
The personal income tax hike would create two new tax brackets 7. 85 percent for single or married-filing-separately taxpayers making more than $200,000, head-of-household filers making more than $250,000 and married couples with incomes greater than $300,000. (Albany Times Union)
GOP Vying for Small Businesses Riled Over Taxes Mar 30, 2009
At the heart of the debate is Obama's plan to raise the top two income tax brackets by allowing tax cuts enacted under former President George W. Bush to expire in 2011 ... 9 percent of taxpayers who report business income on their individual returns fall into the top two income tax brackets ... This analysis showed that 8 percent of taxpayers with small-business income fell into the top two tax brackets in 2006 about 2. (Newsmax)
State budget full of taxes, some spending cuts Mar 30, 2009
ALBANY Millions of dollars in union-paid ads, an influential left wing of the Democratic Party and the loss of Republican control of the state Senate contributed to an overhaul of Reagan-era income tax brackets under a 2009-10 budget totaling 131. 8 billion to be adopted Tuesday. (Auburn Citizen, NY)
Democrats, GOP duel over small business taxes Mar 29, 2009
At the heart of the debate is Obama's plan to raise the top two income tax brackets by allowing tax cuts enacted under former President George W. Bush to expire in 2011. The top income tax rate - which for a couple filing jointly kicks in on income above $373,000 a year - would increase from 35 percent to 39. (Fresno Bee)
Tax hikes could spark Oregon ballot campaign Mar 22, 2009
Among the proposals in the House Revenue Committee is one to increase income tax brackets for individuals making 125,000 a year. Democratic leaders said they want to see how deep the state's budget hole is in next state revenue forecast in May before moving ahead on any income tax plan or other proposals to raise cigarette or beer taxes. (Longview Daily News, WA)
Analysis: Lincoln keeps Obama at arm's length Mar 22, 2009
And she says she's worried about a proposal in Obama's budget to reduce the tax deductibility of charitable gifts by households in the highest tax brackets. Lincoln may also be able to put some distance between her and Obama through her leadership role with the Moderate Dems Working Group of 15 moderate Democrats in the Senate. (Pine Bluff Commercial, AR)
If you're laid off, don't be laid low: Get up, get jobless pay, hunt jobs Mar 17, 2009
On a $10,000 withdrawal, for instance, the total tax and penalties in some tax brackets could add up to $4,250. That's a stiff price to pay. (Fresno Bee -- Business)
PM rips into Liberals behind closed doors Mar 16, 2009
He twice pointed disdainfully to tax hikes U.S. President Barack Obama introduced for the highest tax brackets. Mr. Harper urged the crowd not to forget that Conservatives being in power has made an enormous difference. (Globe and Mail)
Budget lessons not learned Mar 14, 2009
We again urge the state to take a more straightforward approach to its fiscal problems: Trim the fat, fix the barely progressive income tax brackets and tax wealthier New Yorkers who can afford to pay more in tough times. Sound fiscal policy is more much more than spending found money. (Albany Times Union)
Legislators look for new sources of tax revenue Mar 1, 2009
Among the possible additions are increased tax brackets for those making 125,000 or 150,000, a minimum tax for those make more than 125,000 a year and a decrease in the amount of federal taxes that can be deducted from state taxes. With billions of dollars in lost revenues, legislators have said they ll have to match painful program cuts with new ways to raise money. (Coos Bay-North Bend The World, OR)
Recovery act offers some tax breaks Mar 1, 2009
If you're in the lowest two tax brackets, capital gains are potentially nontaxable. Not that most people will have capital gains this year, right. (Boston Globe)
GOP adrift on claim Feb 27, 2009
Obama is proposing to raise taxes on households earning over $250,000 by increasing the rate on the top two tax brackets and limiting deductions, starting in 2011 ... The analysis estimated that 663,000 taxpayers who report business income or losses fall in the two tax brackets whose rates would go up under Obama. (AZCentral -- News)
LETTER: Republicans had chance to accept compromises Feb 27, 2009
McCain's plan would have cut the bottom two income tax brackets and lowered corporate income taxes. It also would have extended unemployment benefits and provide money to repair and replace military equipment worn out in Iraq and Afghanistan. (Mattoon Journal-Gazette, IL)
Obama Creates Health Care Piggy Bank Feb 26, 2009
At the centerpiece of the plan is a call to gradually reduce the value of itemized deductions that those in the highest tax brackets can take for things like mortgage interest and charitable contributions. Separately, Obama will also propose to extend his tax cuts for most Americans and pay for them with the revenue he would get from polluting industries. (Slate)
R-P superintendent lobbies for federal funds to build school Feb 26, 2009
The cost would put residents still struggling to recover from damaging floods in 2007 into one of the highest tax brackets in the state, Ehler said. Rushford-Peterson has an ally in Walz, who pointed Tuesday evening to southern Minnesota s potential growth in many of the areas Obama focused on in his speech, including education. (Winona Daily News, MN)
Trading in gold ETFs of greater interest Feb 25, 2009
When the delivery takes place, gains or profits is treated as a business income and taxed according to appropriate tax brackets. And, if the contract is settled without the delivery, proceeds are treated as an income from speculation and are taxed under short-term capital gains. (India Times)
Nightmare on Stimulus Street Feb 23, 2009
House conservatives championed an alternative plan that would have lowered the bottom two tax brackets, patched the pesky Alternative Minimum Tax, promoted private health insurance and cut taxes for struggling businesses. Instead of more slow-moving, wasteful government spending, we must employ the time tested method of pro-growth tax relief, Rep. (Human Events Online)
Jindal to Turn Down $100 Million in Stimulus Funds Feb 23, 2009
I think the best thing they could've done, for example, was to cut taxes on things like capital gains, the lower tax brackets, to get the private sector spending again. I think they had a provision the net operating losses to help small businesses. (Newsmax)
NY Dems propose hiking personal income tax Feb 18, 2009
The bills would create three new tax brackets with personal income tax rates higher than the current maximum of 6. 85 percent. (Albany Business Review, NY)
Manuel on the money Feb 16, 2009
As in previous years, the minister adjusted the tax tables for individual taxpayers for 2009 in order to allow for the fact that inflation pushes us into higher tax brackets which has the effect of upping our average tax rate if no adjustment is made. No real relief. (iAfrica.com)
Budget 2009 - the good and bad Feb 12, 2009
Tax brackets have also been adjusted to keep pace with inflation. Those with an annual taxable income below R150 000 will receive the bulk of the relief. (Business Report, South Africa)
State already has plans for stimulus money Feb 11, 2009
Meanwhile, some Senate Democrats said what New York needs to protect its schools is more taxes specifically a rewriting of the income tax brackets so New Yorkers earning over 250,000 a year pay more to avoid cuts to schools and hospitals. Gov. David Paterson tried to slam the door on both. (Auburn Citizen, NY)
