Dear Member of Congress: We urge you to reject calls for a “repatriation tax holiday” allowing U.S.multinational corporations to bring home offshore profits at a reduced tax rate. The proposed repatriation holiday is, pure and simple, an attempt by a few multinational corporations to dodge their rightful tax obligation. It is a tax avoidance measure […]
We Urge You to Reject Calls for a “Repatriation Tax Holiday” Read More »
I told you yesterday about the Winthrop University poll which found that a plurality of Republican and Republican-leaning voters in South Carolina believe that an increase in taxes will be necessary to deal with the budget deficit. So what kind of tax increases would the GOP voters accept? In my radio interview with the study’s
Income tax hikes GOP voters will like Read More »
By Frank Knapp, Jr. The Hill’s Congress BlogSeptember 21, 2011 President Obama’s call for cutting the deficit by $3 trillion includes the roll back of the Bush-era tax cuts on the top income tax brackets, a move expected to bring in about $800 billion over the next 10 years. As expected the defenders of
Let upper-end Bush-era tax cuts expire Read More »
In my blog on Monday, I made the following observation about the job tax credits within the President’s proposed American Jobs Act. Tax credits are taken when tax returns are prepared, not at the time of hiring. If a business doesn’t have the capital to do the initial hiring, the tax credit months later won’t
Cash flow and job tax credits Read More »
This evening President Obama submits his American Jobs Act to Congress. According to a story in The Hill most economists from Moody’s Analytics to the Economic Policy Institute think that the plan, if passed, would add about 2 percent to the GDP growth next year. The big concern Wall Street is voicing is that the
Job tax credits can work Read More »
Finally, a jobs plan that actually helps the largest jobs-producing sector to create jobs—small business. Advocates for small business were thrilled to hear President Obama speak these words last night. Everyone here knows that small businesses are where most new jobs begin….So for everyone who speaks so passionately about making life easier for “job creators,”
Pass this jobs bill Read More »
Which will the GOP Presidential candidate choose during tonight’s debate–amnesty for coporate tax dodgers or jobs? Based on Monday’s Palmetto Freedom Forum in Columbia, the answer is sure to be amnesty for corporate tax dodgers. The GOP candidates have all proclaimed that the way to create jobs is to offer U.S.-based multinational corporations amnesty for
Amnesty for corporate tax dodgers or jobs? Read More »
At yesterday’s Palmetto Freedom Forum in Columbia, SC, the candidate who will never be President, New Gingrich, made the most important observation about the economy. He said that if we don’t put in place an effective action now (not when he’s President in 2014), we are in danger of going back to a severe recession. The
No help for small business Read More »
ReutersAugust 31, 2011 WASHINGTON (Reuters) – Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study said on Wednesday. It also found many of the companies spent more on lobbying than they did on taxes. At a time when lawmakers are facing
Some U.S. firms paid more to CEOs than taxes: study Read More »
In yesterday’s blog I talked about some of Dr. Douglas Woodward’s keynote address at this weekend’s South Carolina NAACP African American Economic Summit. I discussed his latest research on the important role of small business our state and the prospects for the nation’s economy. Dr. Woodward also made it clear that job creation is what
