Category Archives: Legislation

Taxing the Man Behind the Tree

Posted on February 2, 2010 by Russ

Don’t tax me; don’t tax thee; tax that fellow behind the tree. — Senator Russell Long It appears that the President’s budget aims to copy California and Oregon in spending our way to bankruptcy. Additionally, the philosophy noted above is … Continue reading →

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Senate Passes Haiti Charitable Contributions Bill

Posted on January 21, 2010 by Russ

As expected, the Senate quickly and unanimously passed a bill allowing Americans who make charitable contributions to Haitian earthquake relief to take those charitable contributions on their 2009 tax returns. I expect President Obama to sign the measure very quickly. … Continue reading →

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House Passes Haiti Charitable Donation Law

Posted on January 21, 2010 by Russ

The House of Representatives unanimously passed a law allowing individuals to take 2010 contributions toward earthquake relief in Haiti on their 2009 tax returns. I expect the Senate to pass the law very quickly, perhaps by the State of the … Continue reading →

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They’re Mad as Hell and They’re Not Going to Take It Any More!

Posted on January 20, 2010 by Russ

Many of you may remember the movie classic Network: On Tuesday, voters in Massachusetts sent a message to politicians. Massachusetts elected a Republican Senator. To put that in perspective, the last time a Republican was elected to the Senate in … Continue reading →

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It’s Unpopular, Unworkable, and Insane, So Naturally They’re in a Hurry to Pass It

Posted on December 21, 2009 by Russ

So I noted last month (more accurately, noting that Joe Kristan’s comment was completely accurate). We have a new listing of the taxes in the healthcare legislation. The new taxes are noted by italics while taxes that have been removed … Continue reading →

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Health Care Legislation: We’ll be Paying for This

Posted on December 20, 2009 by Russ

There is no free lunch. If the government provides us a benefit, it’s really we who provide that benefit. It’s our government, and the money that it’s giving us is our own, whether that money is borrowed or comes from … Continue reading →

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“Cutting Spending” Isn’t In Congress’ Vocabulary

Posted on December 13, 2009 by Russ

When you or I run into cash flow problems, what do we do? We’re forced to cut spending, of course. It’s not as if we have a choice: We can’t print money, and robbing banks is usually not a good … Continue reading →

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18 Tax Changes in Senate Healthcare Bill

Posted on November 20, 2009 by Russ

Senator Harry Reid’s (D-NV) healthcare legislation has 18 tax changes according to Americans for Tax Reform. Here’s a list of the taxes and their impacts (note: Dollar figures are single/single 2+ (S2) or MFJ): 1. Individual Mandate Tax. For those … Continue reading →

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Senator Reid Looking at Increasing Social Security, Medicare Taxes for the Wealthy

Posted on November 15, 2009 by Russ

Senator Harry Reid (D-NV) is looking at increasing the Social Security and Medicare taxes for the wealthy per published reports from last week. Since President Obama has said he won’t increase taxes on those making less than $250,000, this would … Continue reading →

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Homebuyer’s Credit Extended; NOL Loss Changes

Posted on November 9, 2009 by Russ

The Senate passed an extension of the Homebuyer’s credit unanimously, and the House passed it nearly unanimously. So the credit (up to $8,000) has been extended on home purchases until April 30, 2010. There are some changes in the legislation. … Continue reading →

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