RSS

Tag Archives: Congress

Must be nice

Must be nice to have enough dirt on the Obama administration to set in front of Congress tell a bare faced lie! And they have The Department of Justice drop the case. That is exactly what happened a day or so ago to former IRS employee Lois Lerner.Lois Lerner

I can almost imagine the back room conversation (Lois Lerner) “If I go down Mr. Obama I’m going to take a few people with me !” and so ….on and so on. President Barack Obama’s Justice Department will never follow up. Is it fair no but with the way Obama’s running the government it’s to be expected

Advertisements
 
Leave a comment

Posted by on April 2, 2015 in politics

 

Tags: , , ,

tax breaks that expired this year

Individual tax breaks

— Relief from the Alternative Minimum Tax. The tax is designed to ensure that wealthy people can’t use tax breaks to avoid paying any federal taxes. However, it was never indexed for inflation, so Congress routinely adjusts it to keep it from imposing hefty tax increases on millions of middle-income families. Cost: $132 billion.

— State and local sales tax deduction. Taxpayers can take this itemized deduction instead of deducting state and local income taxes. It is geared for people who live in states without state income taxes: Alaska, New Hampshire, Tennessee, Florida, South Dakota, Washington, Nevada, Texas and Wyoming. Cost: $4.4 billion.

— A deduction of up to $4,000 for qualified higher education expenses: Cost: $4.2 billion.

— A tax credit for improvements to make homes more energy efficient. Cost: $2.4 billion.

— A provision that allows tax-free distributions from Individual Retirement Accounts, when used for charitable donations. People older than 70-and-a-half can make tax-free withdrawals of up to $100,000 a year from IRAs. Cost: $1.3 billion.

— A deduction for mortgage insurance premiums. Cost: $1.3 billion.

— A deduction of up to $250 for teachers who buy classroom supplies with their own money. Cost: $462 million.

___

Business tax breaks

— A tax credit for manufacturers and other businesses that invest in research and development. Cost: $14.3 billion.

— A tax break that allows restaurants and retail stores to write off the cost of certain capital improvements over 15 years instead of 39 years. Cost: $3.7 billion.

— An exemption that allows banks, insurance companies and other financial firms to shield the profits of foreign subsidiaries from being taxed by the U.S. Cost: $11.2 billion.

— A $1 per-gallon tax credit for businesses that use or sell biodiesel, a renewable fuel for diesel engines derived from vegetable oils and animal fats. Cost: $2.2 billion.

— A tax credit of up to $2,400 for businesses that hire people who receive benefits from a variety of government programs, including disability benefits and Temporary Assistance to Needy Families. Cost: $1.8 billion.

___

Source: Joint Committee on Taxation.

 
Leave a comment

Posted by on December 20, 2012 in politics

 

Tags: , , , , , , , , , , , , , , ,

One more time for the Dollar coin

One more time for the dollar coin Congress is once more trying to replace the paper dollar with a coin the reason it would save up to 4.4 billion  over the next 30 yrs another reason is that a coin would last 30 yrs where in the case of paper it has to be replaced ever 4 to 5 yrs

1804_dollar_

The big problem is this we all like the dollar coin and we used it for a bit then we go back to what we know best 1DollarBillPlain

The only way that we the people will use the dollar coin is to do away with the paper dollar altogether.But I’m not sure that the saving would do us much good we seem to have  bigger problems In Washington that is that both party’s like to spend money and the saving would be something they would just dip into

 
Leave a comment

Posted by on December 1, 2012 in history, politics

 

Tags: , , , , , , , ,

 
%d bloggers like this: