This tax increase would put jobs and economic growth at risk, and Congress has a responsibility to keep that from happening.
When Congress increased the capital gains tax levy in 1986, the so-called experts at the Joint Committee on Taxation estimated that this tax increase would increase capital gains revenues.
Energy security is a cornerstone of national security and economic prosperity, but this new tax increase through the repeal of dual capacity credits would put U.S.-based companies at a serious disadvantage to foreign competitors, handicapping U.S.-based companies in the international energy market.
FORBES: U.S. Oil Drillers Prepare For Punch In The Gut From Obama
The key question here is what did the wealthy contribute to this impressive increase in tax revenues?
FORBES: After Bush Tax Cuts, Payments By Wealthy Actually Increased
This would increase marginal tax rates on high earners by 12.4 percentage points, which would devastate economic growth.
FORBES: Why Americans Are Skeptical About Private Social Security Accounts
Is this equivalent to a tax increase?
FORBES: Mr. President & Congress: Stop Looking For An Easy Way Out -- There Isn't One!
Given the sheer number of British households that under the Labour government became eligible for tax credits, and given the rise in unemployment, this increase in benefits and tax credits represented a massive boost to households' spending power.
But already we've heard complaints from Democrats, saying this is essentially a tax increase on many middle class families who have some of those more expensive health care plans and are now going to have to pay a tax.
Few news outlets reported that the Democrats were pushing a ten year tax increase to pay for this one year payroll tax cut.
Given that a usual aim of a tax is to increase revenues this makes the FTT rather a bad tax.
FORBES: Europe's Appalling Financial Transactions Tax Just Won't Raise Any Money
This increase in the oil spill liability tax moves forward a planned increase in 2017 of 1 cent per barrel, and sets a tax of 10 cents per barrel starting in 2017 to make sure that there is long-term oil industry financing for the Trust Fund.
While the tax agency has detected a 40 percent increase this year in all kinds of tax fraud, including black money, officials say Spain wants a smooth transition to the euro.
Establishing this tax rate would almost certainly increase the pool of available risk capital.
FORBES: Billion Dollar Policy Ideas for Supporting Biotech Innovation
This move would ultimately increase tax revenues, and effectively spur private growth and innovation in energy independence.
It is difficult to think of this as an increase in tax revenues with which we can do good things.
FORBES: The Truth About the Financial Transactions Tax or the Robin Hood Tax
For his part, Mitt Romney believes that any tax increase at this time will hurt the economy and therefore lower receipts over time.
FORBES: The Bush Tax Rates Are Too High To Move This Boulder
He drew on a warning from economists about this economic downturn and said: "Normally a state debt is with its own inhabitants but this time it is international so you cannot increase tax to hit debtors, pensions and demography are against us at this moment in time, and other instances of debt overhang there has not been the same level of personal debt".
This will mean an increase in tax revenue for Colombian government and a reduction in unemployment and informality.
This represents the largest income tax rate increase in nearly two decades.
FORBES: Fiscal Cliff Deal: 4 Tax Provisions Handled, 1 Hiked, Still Work To Be Done
This is not a headline grabbing tax increase and there is no mechanism for reporting it on a paystub or a tax return.
FORBES: Engineering Homeownership For Non-Homeownership Candidates
This suggests that a transaction tax would increase, not decrease volatility.
FORBES: Europe's Appalling Financial Transactions Tax Just Won't Raise Any Money
Historically, this favorable tax treatment was provided to increase individual saving.
FORBES: Why Retirement Plan Tax Preferences are Not as Expensive as You Might Think
Simply stated, people respond to incentives, and this means taxable income falls as tax rates increase.
FORBES: Divisions Rise Among Conservatives On Accepting Tax Hikes To Cut Deficit
Punishing small-business owners with punitive tax legislation such as this will only increase the unemployment rate and extend the recession.
CNN: Commentary: Obama's first 200 days a reckless experiment
Measures to increase sales tax to this end threatened to split the governing Democratic Party in 2012 and help contribute to its heavy defeat in the December parliamentary election.
If the economic problems of the middle class are employment-based, therefore, it is unlikely that the additional revenue generated by the tax rate increase will fix this problem, especially in the short term.
FORBES: How Will The Middle Class Fare In The Battle Over The Fiscal Cliff?
Only in December when Obama the Compromiser stopped bashing Wall Street (which was willing to accept new regulation for its self-admitted lax oversight of Collateralized Debt Obligations, or CDOs), and soft-pedaled his tax increase insanity, did this economy move again in earnest.
"With an increase of the millionaire's tax and a significant increase in the minimum wage, this budget takes strong steps to address income inequality, " said Michael Kink of the Strong Economy for All coalition of progressive groups.
Moreover, although Mr Tremonti's repeated tax amnesties have seemed to keep annual budget deficits within bounds, the price of this may have been to increase Italy's already high level of tax evasion.
应用推荐