A Rasmussen poll released this week found that a paltry 9 percent of those surveyed believe the United States has the best tax system in the world. To put this in perspective, a separate poll found that 6 times as many (54 percent) Icelanders believe that elves may exist.
Americans are overwhelmingly dissatisfied with our broken tax code. Chairman Dave Camp (R-MI)…
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‘“[M]ost companies will find value from the easier accounting’ proposed by Camp. ‘It would surely simplify the hodgepodge of tax codes that deal with partnerships and S Corps,’ he says, adding that ‘a unified system should make it easier for companies like mine to comply with the rules. I think Dave Camp is on to something.’”
(Termax CEO William Smith, CFO.com, March 20,…
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April 1 might be April Fools’ Day, but with the highest corporate tax rate in the industrialized world, American employers and their workers aren’t laughing. A look around the globe makes it clear – while countries like Japan, the United Kingdom and Canada all lowered their corporate tax rates in 2012, America’s corporate rate remains the highest in the industrialized…
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Last week, in a meeting with House Republicans, President Obama again called for revenue neutral corporate tax reform. But that same day, the White House announced its support for the Senate Democrats’ budget proposal, which includes a $1 trillion tax hike. House Democrats, meanwhile, have called for a $1.2 trillion tax increase. If the President stands by both statements,…
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In a continued push to make the tax code simpler and fairer to strengthen the economy, Ways and Means Committee Chairman Dave Camp (R-MI) has released a tax reform discussion draft aimed at helping small businesses expand, hire new workers and increase pay and benefits. In response, groups representing the nation’s small businesses praised the effort. More information about…
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A new survey released today by the National Federation of Independent Business (NFIB) sums up what small businesses want from comprehensive tax reform – a code that closes loopholes in order to make it less complex and less costly to comply with. Underscoring just how broken the tax code is, 85 percent of those surveyed by the nation’s leading small business group, “think that Congress…
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Tomorrow, the Ways and Means Subcommittee on Oversight will examine the tax provisions contained in ObamaCare. Estimates by the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) confirm that the Democrats’ health law is a trillion-dollar tax hike that families and employers simply cannot afford. Additionally, the Administration’s own documents state…
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The push for comprehensive tax reform that makes the tax code simpler and fairer for families, while strengthening the economy so more jobs and higher wages are created, received a significant boost today. Signifying the importance tax reform holds for House Republicans, it was confirmed today that Speaker Boehner is holding H.R. 1 for a comprehensive tax bill. In separate…
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The Wall Street Journal: “Don’t give up on tax reform just yet…”
“Don't give up on tax reform just yet…Late last week [Ways & Means Committee Chairman Dave] Camp released the second phase of his comprehensive tax overhaul plan, this one dealing with taxation of financial services. He says that the current tax treatment of the financial industry inefficiently ‘taxes…
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