Tag Archives: Tax

The view from outside Washington …Jim Messina


The President’s speech began a new conversation in Washington about how to reduce the deficit while protecting crucial investments in our country’s future.

But as we seek to build an organization based outside of Washington, President Obama’s speech also provides an unusually stark contrast — one all of us can use to start conversations with our friends and neighbors about what’s at stake in this election.

He spoke about things you don’t generally hear in Washington conversations too often dominated by special interests: He’ll cut waste and excess at the Pentagon — particularly spending that is requested not by our military, but by politicians and corporate interests.

He’ll eliminate tax cuts for Americans in the highest tax brackets who don’t need them, including himself — and he will reform the individual tax code so that it’s fair and simple and so that the amount of taxes you pay isn’t determined by what kind of accountant you can afford.

Some cuts he proposed are tough. But they’re also smart and surgical — helping us balance our books while still doing the right things to win the future. President Obama’s plan would protect the middle class, invest in our kids’ education, and make sure we don’t protect the wealthiest Americans from the costs of reform at the expense of the most vulnerable.

The other side has presented a very clear alternative: End Medicare as we know it, privatizing the program that millions of seniors rely on for health care. Make deep cuts to education. Slash investments in clean energy and infrastructure. All to pay for tax cuts for people making over $250,000 a year, and all while actually raising our national debt.

In short, their plan will please a special interest donor base and those who put ideology before results rather than reduce deficits over the long term. And let’s be clear: They think they can get away with it because, fundamentally, they don’t think you’ll do anything about it.

That’s where I know we can prove them wrong. Because we can respond right now by building an organization that will stop them — not just in this deficit battle, but in the next election so they never have the chance to enact these proposals.

Here’s the first step. Join our fight for a deficit reduction plan that will actually reduce the deficit — with a goal of shared prosperity through shared responsibility. Add your name to support President Obama’s plan — and then help bring more people into the conversation:

www.BarackObama.com    2012

President Obama made a promise in his speech today. He said that we won’t have to sacrifice programs like Medicaid and Social Security — programs that millions of Americans rely on — as long as he’s President. He’s committed to seeking serious solutions to the problems we face while still upholding the larger responsibilities we have to one another. So it’s our job to build the organization that’s going to keep him in the White House.

More soon,

Messina

Jim Messina

Campaign Manager

Obama for America

P.S. — If you missed President Obama’s speech earlier today, some excerpts are below:

1. “Our approach lowers the government’s health care bills by reducing the cost of health care itself.

“Already, the reforms we passed in the health care law will reduce our deficit by $1 trillion. My approach would build on these reforms. We will reduce wasteful subsidies and erroneous payments. We will cut spending on prescription drugs by using Medicare’s purchasing power to drive greater efficiency and speed generic brands of medicine onto the market. We will work with governors of both parties to demand more efficiency and accountability from Medicaid. We will change the way we pay for health care — not by procedure or the number of days spent in a hospital, but with new incentives for doctors and hospitals to prevent injuries and improve results. And we will slow the growth of Medicare costs by strengthening an independent commission of doctors, nurses, medical experts and consumers who will look at all the evidence and recommend the best ways to reduce unnecessary spending while protecting access to the services seniors need.”

2. “But let me be absolutely clear: I will preserve these health care programs as a promise we make to each other in this society. I will not allow Medicare to become a voucher program that leaves seniors at the mercy of the insurance industry, with a shrinking benefit to pay for rising costs. I will not tell families with children who have disabilities that they have to fend for themselves. We will reform these programs, but we will not abandon the fundamental commitment this country has kept for generations.”

3. “In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. And I refuse to renew them again.”

4. “This is my approach to reduce the deficit by $4 trillion over the next twelve years. It’s an approach that achieves about $2 trillion in spending cuts across the budget. It will lower our interest payments on the debt by $1 trillion. It calls for tax reform to cut about $1 trillion in spending from the tax code. And it achieves these goals while protecting the middle class, our commitment to seniors, and our investments in the future.

“So this is our vision for America — a vision where we live within our means while still investing in our future; where everyone makes sacrifices but no one bears all the burden; where we provide a basic measure of security for our citizens and rising opportunity for our children.”

5. “But no matter what we argue or where we stand, we’ve always held certain beliefs as Americans. We believe that in order to preserve our own freedoms and pursue our own happiness, we can’t just think about ourselves. We have to think about the country that made those liberties possible. We have to think about our fellow citizens with whom we share a community. And we have to think about what’s required to preserve the American Dream for future generations.

“This sense of responsibility — to each other and to our country — this isn’t a partisan feeling. It isn’t a Democratic or Republican idea. It’s patriotism.”

Thank you,

Messina

Jim Messina

Campaign Manager

Obama for America

Properly tax millionair​es and billionair​es …from ColorOfChange.org


In a stirring speech last Wednesday, President Obama reminded us of our common values — that as Americans, we believe in shared sacrifice during tough times, and shared prosperity when times are good.

This Tax Day, we’ve seen those values flipped on their head. While America’s millionaires and billionaires pay the lowest tax rate in 80 years,1 Congress is slashing critical services like food stamps, family planning and foreclosure assistance that keep poor and working folks afloat. It’s immoral and un-American.

We’re with President Obama: it’s past time that we ask the richest Americans to start contributing their fair share. Rep. Jan Schakowsky‘s Fairness in Taxation Act would do exactly that, helping to balance the budget and stop deep cuts by raising taxes on millionaires and billionaires.

There’s real momentum behind this idea — 81% of Americans support increasing taxes on the wealthy.2 Opposing this idea should be a liability for politicians of any party — but Congress needs to hear from us. It starts with you, right now. Please sign our petition asking your Congressional representatives to co-sponsor the Fairness in Taxation Act:

http://act.colorofchange.org/go/809?akid=1955.1174326.thD39r&t=2

Many in Congress compare the federal budget to a family’s budget. They argue that because the federal government is in so much debt, the nation is broke. And just like broke families need to make hard choices, the government does as well, so they advocate cutting programs that support poor and working folks, along with children, the elderly, and those who need special medical care.

But this is one of several ways their argument falls apart. When times get tough, families don’t abandon the grandparents and the kids because we can’t afford them — we try to bring in more income. A key problem in Washington is that politicians lack the will to tax millionaires and billionaires to bring in more revenue, so they throw grandma, grandpa, and the kids out on the street and under the bus.

The Fairness in Taxation Act attempts to address this by asking those who make $1 million in a year to pay a 45% income tax while billionaires would pay taxes at a 49% rate.3 That’s a big change over the current system, where millionaires and billionaires pay a maximum of 35% and last year paid an average of only 17% of their income in taxes.4 Rates this low haven’t been seen since the 1930s.

Schakowsky’s bill is projected to raise more than $75 billion in new revenues — more than enough to stave off unnecessary cuts to important programs while also helping to reduce the deficit.5 Please urge Congress to support this bold plan:

http://act.colorofchange.org/go/809?akid=1955.1174326.thD39r&t=2

As our friends at CREDO Action have noted, “Over the years, Republican lawmakers have very successfully promoted the morally bankrupt and economically baseless dogma of ‘tax cuts for the rich, massive spending cuts for everyone else.'” It’s critical that we offer a drastically different economic vision.

That’s because the national budget is more than a roadmap to spending; it’s a statement of values and priorities. Properly taxing millionaires and billionaires would send a clear message that in America, we value feeding the poor and taking care of the sick and elderly. It’s about making sure that everyone has ample opportunity to be successful. As President Obama said, this is fundamentally patriotic.

This is why every member of Congress needs to answer a simple question: will you oppose fair tax rates for the wealthy, or will you stand with everyday Americans who are struggling in this tough economy?

This is more than just a moment to pass a critical piece of legislation — it’s an opportunity to reclaim the nation’s economic narrative. Many have been fooled by the right into thinking that America is broke — but the nation isn’t broke so long as we can raise revenues. Asking the very wealthy and large corporations to pay their fair share is a key part of the conversation that’s been ignored for too long under the GOP‘s “starve the government” philosophy.

Please join us in asking Congress to support Rep. Schakowsky’s tax on millionaires and billionaires, and ask your friends and family to do the same:

http://act.colorofchange.org/go/809?akid=1955.1174326.thD39r&t=4

Thanks and Peace,

— James, Gabriel, William, Dani, Matt, Natasha and the rest of the ColorOfChange.org team

April 19th, 2011

Help support our work. ColorOfChange.org is powered by YOU–your energy and dollars. We take no money from lobbyists or large corporations that don’t share our values, and our tiny staff ensures your contributions go a long way. You can contribute here:

http://www.colorofchange.org/donate

References:

1. “Income tax in the United States,” Wikipedia

http://act.colorofchange.org/go/810?akid=1955.1174326.thD39r&t=7

2. “Sanders introduces millionaire surtax to slash deficit,” Raw Story, 3-11-2011

http://act.colorofchange.org/go/811?akid=1955.1174326.thD39r&t=9

3. “Schakowsky Introduces Bill to Tax Millionaires and Billionaires,” Press Release, 3-16-2011

http://act.colorofchange.org/go/812?akid=1955.1174326.thD39r&t=11

4. “Super rich see federal taxes drop dramatically,” Associated Press, 4-17-2011

http://act.colorofchange.org/go/813?akid=1955.1174326.thD39r&t=13

5. See reference 3

The view from outside Washington


The President’s speech today began a new conversation in Washington about how to reduce the deficit while protecting crucial investments in our country’s future.

But as we seek to build an organization based outside of Washington, President Obama’s speech also provides an unusually stark contrast — one all of us can use to start conversations with our friends and neighbors about what’s at stake in this election.

He spoke about things you don’t generally hear in Washington conversations too often dominated by special interests: He’ll cut waste and excess at the Pentagon — particularly spending that is requested not by our military, but by politicians and corporate interests.

He’ll eliminate tax cuts for Americans in the highest tax brackets who don’t need them, including himself — and he will reform the individual tax code so that it’s fair and simple and so that the amount of taxes you pay isn’t determined by what kind of accountant you can afford.

Some cuts he proposed are tough. But they’re also smart and surgical — helping us balance our books while still doing the right things to win the future. President Obama’s plan would protect the middle class, invest in our kids’ education, and make sure we don’t protect the wealthiest Americans from the costs of reform at the expense of the most vulnerable.

The other side has presented a very clear alternative: End Medicare as we know it, privatizing the program that millions of seniors rely on for health care. Make deep cuts to education. Slash investments in clean energy and infrastructure. All to pay for tax cuts for people making over $250,000 a year, and all while actually raising our national debt.

In short, their plan will please a special interest donor base and those who put ideology before results rather than reduce deficits over the long term. And let’s be clear: They think they can get away with it because, fundamentally, they don’t think you’ll do anything about it.

That’s where I know we can prove them wrong. Because we can respond right now by building an organization that will stop them — not just in this deficit battle, but in the next election so they never have the chance to enact these proposals.

Here’s the first step. Join our fight for a deficit reduction plan that will actually reduce the deficit — with a goal of shared prosperity through shared responsibility. Add your name to support President Obama’s plan — and then help bring more people into the conversation:

www.barackobama.com

Amnesty Program … (Paymytax.org)


This temporary amnesty program waives penalties and interest on certain unpaid Washington State business taxes.

Program dates:

February 1, 2011 through April 30, 2011

This program waives penalties and interest on:

State business and occupation (B&O) tax

State public utility tax

State and local sales and use tax including:

General retail sales and use taxes

Rental car taxes

King County food and beverage tax

Additional sales and use tax on motor vehicle sales/leases

Lodging taxes, but not including tourism promotion area lodging charges

Brokered natural gas use tax

Important: If you have filed and paid all tax returns as of November 25, 2010, you are not eligible for amnesty on tax returns due after that date.

Who’s eligible:

Registered businesses

Unregistered businesses

How to apply:

By April 18, 2011 you must:

Submit an Application (pdf)

File all outstanding tax returns and any amended returns for which you are requesting a waiver.

Requirements:

For amnesty to be granted, you must:

Pay all tax due by April 30, 2011, on any invoice for which you are requesting a waiver. You must also pay penalties and interest on taxes not included in this program.

Pay all filing and other fees on any tax warrant for which you are requesting a waiver.

File and pay all tax returns on time during the amnesty period.

Waive your right to seek a refund or challenge the amount of taxes paid under the program.

Exclusions:

Taxpayers are excluded from this program if they:

Have ever been assessed a penalty by the Department for evasion or misuse of a reseller permit or resale certificate.

Are in bankruptcy and payment of tax debt would violate federal bankruptcy laws.

Have ever been prosecuted for failing to pay or collect the proper amount of any tax administered by the Department under RCW 82.32.

For more information:

See the Amnesty Q & A. For specific questions, send an email to communications@dor.wa.gov or call us at 1-800-647-7706 begin_of_the_skype_highlighting 1-800-647-7706 end_of_the_skype_highlighting.

Bankrate.com


Here are stories published today.

Top 10 investing tips for 2011 | 2011-02-22

As the economy recovers, strategize to manage risk and maximize return.>>  http://www.bankrate.com/finance/investing/dr-don-s-top-10-investing-tips-for-2011-1.aspx?ec_id=brmint_newsalert_20110221