Tag Archive: Taxes


This Eye-Opening Map Shows The Reason Gas Is More Expensive In Some States Than Others

 

   This map shows why the cost of gasoline is so high and why there is so much variation from state to state . The simple answer is , of course , taxes , both state and federal . Click on the map below to go to the interactive page that will give the reader specific details for each individual state and bear in mind that , even as the Statists demonize the oil industry as some sort of price-gouging profiteers , that the various government entities make more from the sale of a gallon of gas than do the evil energy producers .

 

 

Gas Taxes By State

Click Map For Interactive Link

 

 

” The federal excise tax is 18.4 cents per gallon, and the rest of the taxes are particular to each state and vary greatly around the country.

  The two states with the biggest taxes: New York at $0.505 and California at $0.4978. The two states with the lowest taxes: Alaska at $0.124 and New Jersey at $0.145.

  Expressed as a percentage, based upon current prices which are $3.678 as averaged across the nation, the price for a gallon of gas breaks down like this:

  • 10% for refining costs and profits
  • 10% for transportation and retailing costs and profits
  • 13% for taxes and fees
  • 67% for crude oil

  One thing to notice: The total costs and profits for everything except the oil is just slightly larger than the amount that goes to state and federal taxes.”

 

 

Here is a bit more perspective on those “massive profits” raked in by “Big Oil” …

 

 

 

 

 

 

” ExxonMobil’s earnings are from operations in more than 100 countries around the world. The part of the business that refines and sells gasoline and diesel in the United States represents less than 3 percent – or 3 cents on the dollar – of our total earnings. For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.”

 

 

 

As the astute reader can easily ascertain , the only “price gouger” in the energy business is the State .

 

 

 

 

 

 

 

 

 

 

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Remington To Move Production Of Two Gun Lines From New York To Alabama

 

 

 

 

” Nearly 200 years after Eliphalet Remington II forged his first rifle in Ilion, residents of the small central New York village are getting the bad news they have feared for more than a year: Remington Arms is moving production of two of its gun lines to Alabama.

  While the company did not announce the outright closing of the facility that has been home to Remington since 1816, gun rights advocates said that day is now likely moving closer and they blame the state’s 2013 NY SAFE Act gun control law.

“ This could very well be the beginning of the end of Ilion,’’ said Tom King, president of the New York State Rifle and Pistol Association, the state chapter for the National Rifle Association.

  The Buffalo News last September featured Ilion in a story about residents there growing increasingly worried that Remington, the anchor in the village of 8,000 in Herkimer County, was under growing pressure to leave New York since passage of the SAFE Act.

  Remington said it will move production of its Bushmaster line of semi-automatic rifles that are no longer legal for the company to sell in New York without modifications. It is also sending work on its popular 1911 R1 pistol.”

 

     Welcome to New York , a fine place to do business … not , as New York pols manage to drive out America’s oldest , continuously operating factory .

 

More on the beginning of the end for Ilion here and here .

 

 

 

 

 

 

 

 

 

One Chart That Shows Just How Screwed Up Our Tax System Really Is

 

 

 

 

” The 2014 tax season is finally over and whether or not you owe the IRS, the following news will not make you pleased:

” Twenty-five profitable Fortune 500 companies spent more on lobbying than they paid in federal taxes between 2008 and 2012,” according to a Public Campaign analysis of data from Citizens for Tax Justice and the Center for Responsive Politics.

  This is yet another way our tax structure penalizes individuals and small businesses while supporting mega corporations. We must make tax reform a major issue in the 2014 and 2016 elections to even this out.

  The analysis showed that over five years, these 25 corporations spent way more money influencing government than supporting it. They generated nearly $170 billion in profits and received $8.7 billion in tax rebates, all while paying their lobbyists $543 million, an average of nearly $300,000 a day, to advance their interests in Congress.”

 

    The astute reader will note that all of these corporations had a negative tax obligation . What’s wrong with this picture ? Cronyism anyone ?

 

 

Policy Mic

 

 

 

 

 

 

 

 

 

 

 

Obama Calls For Highest Sustained Taxation In U.S. History

 

 

 

 

 

 

” In the budget proposal he presented to Congress last month, President Barack Obama called for what would be the highest level of sustained taxation ever imposed on the American people, according to the analysis published last week by the Congressional Budget Office.

  Under Obama’s proposal, taxes would rise from 17.6 percent of Gross Domestic Product in 2014 to 19.2 percent in 2024. During the ten years from 2015 to 2024, federal taxation would average 18.7 percent GDP.

America has never been subjected to a ten-year stretch of taxation at that level.”

 

 

DEBT HELD BY PUBLIC-OBAMA BUDGET-CHART

 

 

 

” In the twelve fiscal years preceding the Japanese attack on Pearl Harbor (1930 through 1941), federal taxation averaged 5.3 percent of GDP.

  In the five fiscal years encompassing U.S. involvement in World War II (1942 through 1946), federal taxation averaged 16.1 percent of GDP.

In the fiscal years since World War II (1947 through 2013), federal taxation has averaged 17.1 percent of GDP.”

 

 

 

 

CNS News

 

 

 

 

 

 

 

Which Taxpayers Experience The Greatest Tax Burden—And Who Pays The Most In Taxes?

 

 

top10-percent-income-earners-6005

 

 

 

” As Americans navigated the labyrinthine tax code ahead of tax day, many felt the sting of the President’s myriad tax increases.

  Despite calls for more taxes on the rich, the Heritage chart shown above reveals that the recent tax increases disproportionately affect the working wealthy. The top 10 percent of all income earners paid 71 percent of federal income taxes in 2010, yet they earned 45 percent of all federal income. Compare that to the bottom 50 percent of earners, who earn 12 percent of income yet pay only 2 percent of federal income taxes.

  So when Obama and advocates of higher federal taxes opine that the rich do not pay their “fair share,” they are correct—affluent income-earners pay a whole lot more than they would pay if we had a proportional tax code instead of the highly progressive one we have today.”

 

Read more at The Foundry

 

 

 

 

 

 

 

 

 

Do You Know Where Your 2014 Taxes Will Go? Well, Here’s An Amazing Infographic Which Breaks It Out Beautifully

 

 

Death and Taxes 2014: US Federal Budget
Click To Enlarge

By jess. Explore more visuals like this one on the web’s largest information design community – Visually.

HT/Against Crony Capitalism

Stop The American Hustle

 

 

 

” In 2012, the people of North Carolina paid Marvel Studios $20 million to shoot Robert Downey Jr.’s latest comic-book sequel, “Iron Man 3,” in their state. It was just one of many movies and television shows taxpayers subsidized in North Carolina that year. Among them were season 8 of“The Bachelorette” and Jennifer Aniston’s “We’re the Millers” — a film that The Fresno Bee said “aims for mediocrity and hits it with a dull thud.”

  Subsidies like these for the entertainment industry exist all over the country, in Florida and Michigan and Ohio. Georgia taxpayers in 2012 funded “Tyler Perry’s Aunt Bam’s Place,” “Tyler Perry’s I Don’t Want to Do Wrong” and the latest Vince Vaughn–Luke Wilson buddy flick, “The Internship.”

  With so much public money going toward these ventures, it’s reasonable to question whether they bring the public any actual benefit — and there are plenty of reasons to be skeptical. In 2010 in Michigan, the state Senate authored a report on film industry incentives and found that, in one year, the state had spent $100 million to create only $60 million in economic activity. Of the spending stimulated — by the production of such gems as “A Very Harold and Kumar Christmas”— the report found that almost half occurred out of state. Such doubts were compounded by a November report from the office of New York Gov. Andrew Cuomo, which could not find “sufficient justification for the size of the film credits.” The amount of public money spent on a production company, it said, was the equivalent of paying a factory 40 times what it owed in taxes.

  The film industry, now under scrutiny for engaging in these practices, is just one example of a much larger problem. Tax credits for businesses, in theory, are meant to be a means of using public money to stimulate private-sector growth and create jobs. Yet many subsidies don’t pay off in the form of public benefits, and few come with any measures for accountability, preventing the public from ever knowing if it’s getting its money’s worth. Walmart, for instance, has used “more than $1.2 billion in tax breaks, free land, infrastructure assistance, low-cost financing and outright grants from state and local governments around the country,” according to Good Jobs First’s Wal-Mart Subsidy Watch website. Sports franchises frequently approach cities and suburban regions with proposals for new stadiums funded by public dollars, touting them as job creators.”

 

 

 

Read more

 

 

 

 

 

 

 

 

America’s Dwindling Economic Freedom

 

 

” World economic freedom has reached record levels, according to the 2014 Index of Economic Freedom, released Tuesday by the Heritage Foundation and The Wall Street Journal. But after seven straight years of decline, the U.S. has dropped out of the top 10 most economically free countries.

  For 20 years, the index has measured a nation’s commitment to free enterprise on a scale of 0 to 100 by evaluating 10 categories, including fiscal soundness, government size and property rights. These commitments have powerful effects: Countries achieving higher levels of economic freedom consistently and measurably outperform others in economic growth, long-term prosperity and social progress. Botswana, for example, has made gains through low tax rates and political stability.”

 

   Heck of a job Barack . Now the “Land Of Liberty” needs to take lessons in freedom from Mauritius ? More on this story at the WSJ  and you can view the rankings with methodology and percentages of change year over year at Heritage.org

 

 

Economic Freedom Index 2014

 

 

The “One” promised change and that’s what we’ve got . No one ever said the change would be good .

 

 

 

 

 

 

 

 

Libertarian Businessman Says Goodbye To California With The New Year

 

 

 

” Libertarian businessman and park privatization advocate Warren Meyer is celebrating the new year by getting the heck out of California, like so many other businesses. He posted the many reasons why it’s so hard to do business in the Golden State, particularly in Ventura County, on his blog. Here’s a sampling of some of the reasons:

  • It took years in Ventura County to make even the simplest modifications to the campground we ran.  For example, it took 7 separate permits from the County (each requiring a substantial payment) just to remove a wooden deck that the County inspector had condemned.  In order to allow us to temporarily park a small concession trailer in the parking lot, we had to (among other steps) take a soil sample of the dirt under the asphalt of the parking lot.   It took 3 years to permit a simple 500 gallon fuel tank with CARB and the County equivalent.   The entire campground desperately needed a major renovation but the smallest change would have triggered millions of dollars of new facility requirements from the County that we simply could not afford.”

 

Reason has more

 

Illustration by A F Branco

 

 

 

 

 

 

Veterans for Capitalism and The Constitution

 

 The 10 Most Troubled City Systems

unfunded liabilities

 

” More and more cities, counties, and even some states will face the harsh reality of having to fix their pension systems or deal with a Detroit-style bankruptcy.

“This is happening in too many cities and towns across America, where social services, because they can be cut, are cut. Because pensions and bonds constitutionally cannot be cut, they’re the protected class,” Wall Street financial analyst Meredith Whitney told CNBC.

“I think you’re going to see a real issue of neighbor against neighbor on these very issues,” said Whitney, who recently co-founded Kenbelle Capital LP, a New York hedge fund.”

 

That’s the bad news . Here is the worse news .

 

“But here’s the real rub: experts are warning that many pension systems, those claiming they are well funded and those who say they aren’t, have all been using rosy projections about future investment returns.

In a recent editorial in Barron’s, Thomas Donlan writes that pension funds have “hidden the results with dubious financial reporting.”

Detroit, he says, was using the standard 8 percent return on assets, widely used by other funds. Donlan argues that is foolhardy to claim an 8 percent rate of return.

Consider that since January 1, 2001, the Dow Jones has appreciated, on average, a paltry 2.2 percent, with the S&P growing just 1.36 percent.”

    Municipal governments throughout the nation have been hiding their unfunded liabilities with parlor games and dubious economic assumptions that guarantee that no matter how bleak things seem today , they will be orders of magnitude worse in the very near future . 

 

 

 

 

 

 

 

 

Why The French Are Bailing On France

 

 

 

” A poll on the front page of last Tuesday’s Le Monde, that bible of the French Left-leaning Establishment (think a simultaneously boring and hectoring Guardian), translated into stark figures the winter of François Hollande’s discontent.

More than 70 per cent of the French feel taxes are “excessive”, and 80 per cent believe the president’s economic policy is “misguided” and “inefficient”. This goes far beyond the tax exiles such as Gérard Depardieu, members of the Peugeot family or Chanel’s owners. Worse, after decades of living in one of the most redistributive systems in western Europe, 54 per cent of the French believe that taxes – of which there have been 84 new ones in the past two years, rising from 42 per cent of GDP in 2009 to 46.3 per cent this year – now widen social inequalities instead of reducing them.

“It’s not only that people don’t like to be treated like criminals just because they’re successful,” says a French banker friend who has recently moved to London. “But this uncertainty in every aspect of the tax system means it is impossible to do business: you don’t know what your future costs are, or your customer’s. You can’t buy, you can’t sell, you can’t hire, you can’t fire.” “

 

 

 

 

 

 

 

Truckers Ride for the Constitution Plan A Massive Slowdown

 

 

 

” Not only is the government (partially) shut down, but now a caravan of truck drivers is looking to shut down traffic around Washington — as part of a bizarre protest against things that are “destroying America.” 

The group, Truckers Ride for the Constitution, is trying to attract participants for a demonstration on the Capital Beltway starting this Friday. 

“Truck drivers will not haul freight! … Truckers will lead the path to saving our country if every American rides with them!” the group’s Facebook page, which had more than 57,000 “likes” as of Tuesday morning, declares. 

The truckers reportedly plan to clog the Beltway by driving “three lanes deep” for three days.   

So just what do they want? 

Their list of grievances is apparently quite long. 

According to a report in The Hill, the drivers are complaining about wages, gas prices and federal regulations on their industry. They’re also not too chuffed about the debt or the National Security Agency’s surveillance practices. “

 

 

 

 

 

 

 

 

 

Republican Governed States Crush Democrats in Economic Competitiveness Rankings

 

Republican Governed States Crush Democrats in Economic Competitiveness Rankings

 

” Think it doesn’t make a difference if you’re in a blue or red state? On the contrary, my friend. Check this out from the Daily Caller:

Thirteen of the top 14 best states for business and economic competitiveness are led by Republican governors, according to the 2013 edition of an annual study by CNBC.”

 

 

Here are the top ten 

 

  1. South Dakota (R/R)
  2. Texas (R/R)
  3. North Dakota (R/R)
  4. Nebraska (R/-)
  5. Utah (R/R)
  6. Virginia (R/R)
  7. Colorado (D/D)
  8. Georgia (R/R)
  9. Wyoming (R/R)
  10. Idaho (R/R)

 

Click the link to see the rest

 

 

 

 

 

 

 

Gun Control Backfires? Rick Perry Lures Connecticut Gunmakers To Texas

 

 

 

 

” The shootings at Sandy Hook Elementary School in Newtown, Conn., have brought into high relief one of the anachronisms of the American economy: Some of the biggest and most influential makers of firearms in the United States are located in some of its bluest – and most antigun – states.

That is a fact that Gov. Rick Perry (R) of Texas hopes to turn to his advantage this week.

He is scheduled to visit Colt’s Manufacturing, which has been in Connecticut since 1847, and Mossberg & Sons of North Haven, Conn., the largest maker of shotguns in the US, among other manufacturers and suppliers in Connecticut and New York.”

 

Good for Governor Perry . Here’s wishing him much success . 

 

 

 

 

 

 

 

 

 

Jay Leno On Powerball Winner Taxes & IRS!!!

 

 

Cast Your Ballot Now

 

 

The median wealth of a House member is $765,010… For a senator it’s $2.38 million. Yet, incredibly, they still enjoy all of this:

 

  • $174,000 salary
  • Free company car
  • Free gas
  • Free parking (even at airports)
  • Free flights almost anywhere in the world
  • Per diem travel allowance… up to $3,000 a trip
  • A month’s paid vacation
  • 3-day work-weeks
  • Free membership to a top-flight gym
  • Pension plan and 401K plan
  • Full retirement benefits (including up to 44% of their six figure salaries) at age 62
  • Free top of the line health insurance with 10 plans to choose from
  • Fully covered – even with pre-existing condition

” Being a member of Congress is the most lucrative “Public Service” job in the world. Are our representatives officially out of touch with the real America? Should Congress live like the rest of us?

Vote now to make your voice heard and receive a stunning report that shows the full scope of congressional abuse of power. You won’t believe how well members of Congress live – all at our expense.”

 

The Money Morning Pledge

” This poll is being conducted by Money Morning, the nation’s fastest growing source for independent financial news, research and advice. We’re on a mission to keep our readers’ money safe and growing. When you submit your vote, you’ll receive a full report on congressional abuse, up-to-the minute poll results, as well as daily strategies for building wealth and taking control of your finances. Make your voice heard by voting above and passing this important vote to a friend. “

 

 

 

 

 

 

New App Lets You Track Government Spending On Your Phone

 

 

” Adam Andrezejewski, who ran as the Republican candidate for governor of Illinois in 2010, believes passionately that American taxpayers should know how government spends their money.  Andrewzejewski and a team of designers have now realized that dream by creating Open the Books, a free app that creates a searchable database allowing America’s shareholders (i.e., taxpayers) to see how the federal government is spending their money. The app works on both Apple and Droid platforms. If you don’t have a smart phone, the same information can be viewed at http://www.openthebooks.com. All you need to do to find out about local spending is to enter your zip code.

In a Wall Street Journal article alerting Americans to this oversight program, Andrewzejewski details just three of the unpleasant surprises about federal spending he was able to find using Open the Books:

• The brother of a former state director of agriculture under former Illinois Governor Rod Blagojevich has received nine federally guaranteed loans totaling $1.67 million since 2006. He has also received hundreds of thousands in direct payments and subsidies from the federal government, all based on his ownership of a single hog farm in Teutopolis, Ill.”

 

 

Read More

 

 

 

 

 

 

 

Life Liberty and the Pursuit of Happiness

 

 

 

 

 

 

 

 

 

Cost Of Illegal Immigration At The State Level

 

 

” Wondering how illegal immigration is affecting your pocket book? While the fiscal burden of illegal immigration on the United States taxpayerswas estimated at $113 billion in 2010, below you will find links to cost summaries for each separate state so that you can see specifically how this is impacting your state.”

 

 

FAIR

 

 

 

 

 

Gallup: Only 4% Of Americans Think Gun Control Is An Important Problem

 

 

 

” Only 4 percent of Americans think guns and gun control are an important problem facing the country, according to Gallup, and far more Americans are concerned about the economy, unemployment and the federal debt.”

 

 

 

” Respondents answered in the following order:

 

Economy in general                                      24%

Unemployment/Jobs                                     18%

Dissatisfaction with Government                16%

Federal budget deficit/Federal debt             11%

Healthcare                                                     6%

Ethical/Moral/Family decline                            5%

Immigration/Illegal aliens                                4%

Education                                                       4%

Guns/Gun control                                            4%

Situation with North Korea                              4%

Lack of Money                                                  3%

Welfare                                                            2%

Lack of respect for each other                         2%

Poverty/Hunger/Homelessness                        2%

Foreign aid/Focus overseas                              2%

Taxes                                                                 2%”

 

 

 

 

 

 

The Party of Surrender

 

 

 

 

” From RNC honcho Reince Priebus, from the senator from Swing-State Central Rob Portman, and even from the great Charles Murray, the same mournful dirge echoes through the cavernous emptiness of the Republican big tent: Give it up, losers — give it up on illegal immigration, gay marriage, abortion, and maybe Americans under 30, 50, whatever, will consider voting for you, or at any rate consider finding you marginally less repellent.

Maybe. But I’m a wee bit skeptical. As the New York Post’s film critic Kyle Smith tweeted: “Just a wild guess, but if we go all-out for gay marriage, I’m thinking the liberals will come up with another reason to hate us.”

Undoubtedly. As recently as 2000, when Vermont became the first state to legalize same-sex “civil unions,” that was the enlightened, progressive position. A mere 13 years later, to support “civil unions” is to be a “homophobe” and a “hater.” Where will received wisdom be in another 13 years?”

 

 

 

 

 

 

 

 

12 Incredible Examples of Government Waste This Year

 

 

 

 

#1 Moroccan Pottery Classes: $27 Million

A “key part” of a four-year, $27 million plan by the U.S. Agency for International Development (USAID) to improve the economic competitiveness of Morocco involved training Moroccans to design and make pottery for sale both locally and in international markets, Cobrun’s report says. But the translator hired was not fluent in English and some of the materials used in the sessions were not regularly available in Morocco. The agency’s Inspector General concluded the training was “ineffective and poorly implemented.”

 

 

 

 

 

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