President Barack Obama has preached that all Americans should pay their fair share in taxes, but a government report finds that tens of thousands of federal employees — from staffers in Congress to federal agencies and even Obama’s executive office — collectively owe the government billions in back taxes.
President Obama this week defined what he believes should be the minimum “fair share” for millionaires and billionaires to pay in taxes. His answer: At least 30% of their income.
On a dreary day last April, Tim Storm, the founder of FatWallet, and his 54 employees formed a convoy of some 30 cars, three moving trucks and a trailer laden with two fiberglass cows (one purple, one black), and drove five miles north from their old corporate home in Rockton, Ill.. to the new FatWallet headquarters in Beloit, Wis.
Hours before he plans to release his 2010 tax returns, Mitt Romney noted at the GOP debate in Tampa that under his opponent’s tax plan, he wouldn’t have paid any taxes at all.
By Ed O’Keefe, The Washington Post Congressional staffers owed about $10.6 million in unpaid taxes in 2010, a slight increase from the previous year and a growing slice of the roughly $1 billion owed by federal and postal workers nationwide. The figures come as Republican efforts to pass legislation allowing federal agencies to fire tax [...]
By Jordan Weissmann, The Atlantic Mitt Romney has millions of dollars spread around at least a dozen investment funds run by Bain Capital out of the Cayman Islands, a notorious tax haven, as ABC News reported on Wednesday. This raises some tricky questions, including but not limited to: Isn’t this awfully suspicious? How does a [...]
Mitt Romney has finally confirmed what everyone knew—he’s been a savvy investor. He may not be paying Warren Buffet’s reputed 11% rate, but he’s mostly paid 15%, a far cry from 35% on service income. We know wealthy people like Buffett and Romney benefit from a 15% dividends and capital gain rate.
Maryland Gov. Martin O’Malley on Wednesday defended his plan to raise taxes on residents who earn six-figure salaries or more, saying he considered it the “fairest way” to help close the state’s latest budget shortfall.
Millionaires said they support Warren Buffett’s view that the wealthiest should pay more in taxes, as long as it’s other rich Americans, according to a survey released today.
CONCORD, N.H.—New Hampshire’s historic resistance to a personal income tax would no longer be left to politicians to uphold if a proposed prohibition against the tax is enshrined in the state constitution.
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