Increasing Both the Earned Income Tax Credit and the Minimum Wage Would Strengthen Wisconsin’s Families

By: Sunday September 14, 2014 5:30 pm

From www.wisconsinbudgetproject.org. State lawmakers who want to help Wisconsin families recover from the recession should move to boost both the state’s earned income tax credit and its minimum wage. Each policy on its own helps make work pay for families struggling on low wages, but improving them at the same time goes further to putting [...]

 

Budget Shortfall in Wisconsin Shows Downside of Risky Approach to Tax Cuts

By: Wednesday September 3, 2014 5:18 pm

Last week we learned that state tax revenues in Wisconsin fell far short of projections for the budget year that just ended. The shortfall means that next year the state is likely to face another round of budget cuts — cuts that slow economic growth and reduce investment in education, health care, and our state’s workforce.

The irony is that not too long ago, state lawmakers were trumpeting Wisconsin’s budget surplus, which neared $1 billion over two years. But instead of using those resources to build up a meaningful budget cushion, state lawmakers rushed to pass tax cuts. Legislators were in such a hurry to cut taxes that they passed a $100 million property tax cut last October in just four days, leaving little time for public debate. Lawmakers also passed two other major tax cut packages in 2013 and 2014.

Wisconsin State Tax Collections Fall Far Short of Projections

By: Saturday August 30, 2014 6:03 pm

Wisconsin lawmakers got bad budget news today, when the Legislative Fiscal Bureau (LFB) released state tax collection figures showing that revenue collections fell $281 million (2.0%) short of projections during the fiscal year that ended on June 30. Rather than growing by 1% as anticipated, state tax collections fell by 1%, and that will cause a substantial jump in the state’s structural deficit.

Burger King Buying Tim Horton’s, Will Avoid Paying US Taxes

By: Tuesday August 26, 2014 12:12 pm

If you needed another reason to avoid Burger King restaurants, besides the food, there is the recent move by the fast food firm to relocate its corporate headquarters to Canada after acquiring Tim Hortons Inc. for roughly $11 billion. While Burger King Executive Chairman Alex Behring claims the move is “not being driven by tax rates,” the tax benefits for relocating to Canada are considerable which is one of the reasons why so-called tax inversions by US companies have become so common.

Breaking With Tradition in Wisconsin: Taxes and Budgeting

By: Tuesday August 12, 2014 6:55 pm

Wisconsin lawmakers have passed dozens of tax cuts since 2011, many aimed at people who earn the most. Low income taxpayers have received much smaller tax cuts, and some may even be paying higher taxes than they did before 2011. The emphasis on tax cuts has thrown the state’s upcoming budget out of balance, contributed to rising debt, and diverted money that would otherwise go to the state’s rainy day fund to cushion the blow of the next economic downturn or some other unforeseen event.

Taxes, Walgreens, the TPP, TTIP and TISA

By: Wednesday July 9, 2014 5:10 pm

Walgreens is reported to be considered emigrating from the United States, renouncing its citizenship and becoming a Swiss Citizen to cut its tax bill.

Well and good for its shareholders. If it were a person it would then have to apply for a visa to visit the United States and because it was a non-US citizen would not be permitted to be employed in the United States.

The Political Decision in Hobby Lobby

By: Sunday July 6, 2014 11:00 am

Hobby Lobby is a terrible decision, and the underlying politics poke through the charade laid out in Samuel Alito’s opinion. People are right to be outraged, and it’s only going to get worse if the calmer-downers get people to shut up.

Pigs: The More Wealth One Accumulates, the More Complicated Life Can Become

By: Friday June 20, 2014 4:42 pm

Don’t we all know it? The more wealth one accumulates, the more complicated life can become.

Luckily, if you’re among the 1 percent, you are not alone. Repeat that: YOU ARE NOT ALONE. There are people ready to help you with the complications of owning more than 99 percent of your fellow citizens.

One such resource in your time of need is Bessemer Trust, a “Private Client Wealth Management” company.

What Did We Get For All That Money

By: Sunday June 8, 2014 11:00 am

We never learn from history. We repeat the same stupid mistakes century after century.

Majority of Fortune 500 Using Offshore Tax Schemes to Hide $90 Billion

By: Friday June 6, 2014 2:16 pm

According to a new report from Citizens for Tax Justice and the U.S. Public Interest Research Group, the majority of America’s Fortune 500 companies are cheating the tax man to the amount of approximately $90 billion by using offshore tax havens. That cheating leaves the rest of US taxpayers on the hook to make up the difference.

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