Category Archives: tax hike

Phil Mickelson Needed to Pay 61% in Taxes For His Fame

Phil Mickelson Needed to Pay 61% in Taxes For His Fame

“I might move away from California because of the State taxes here”, quoted Phil Mickelson and guess what? He became the hot topic this past January when he had to sacrifice 61% of his money he earned from of 2013 Open Championship and The Scottish Open in the shape of governments taxes. Steeped tax rates and UK’s policy to collect more taxes on endorsement earnings of non-resident athletes with the rest of the taxes from United States government, were the factors behind this dramatic situation.

Phil Mickelson, Open 2006

Phil Mickelson, Open 2006

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Taxes And The Romney Tax Plan

Romney Tax Plan

If you are looking for information on the 2010 taxes and what the Romney tax plan is if he wins the election, maybe this will help you.

One of the things that Romney said he does not want to do is cut taxes for the well off. He said that high income taxpayers will have fewer exemptions and deductions. He said that if those numbers didn’t come down, they’d get a tax break. Romney said that he is proposing a reduction in the tax rate but that he also wants to close exemptions and deductions at … Read the rest

Obama Believes That Taxes Help In Debt Reduction

President Obama believes that the U.S. can reduce its $15 trillion-plus federal debt by generating revenue from the increase in taxes.

While attending the Business Roundtable talks Obama stated that along with finding ways to cut spending, revenue had to also be dealt with. He believes that the people of America understand that this must be done in order to solve the country’s financial problems.

Taxes will be on everyone’s minds at election time.

The opponents of Obama- Mitt Romney, Ron Paul, Newt Gingrich and Rick Santorum, all are in opposition of increasing taxes. They argue that the creations … Read the rest

Taxes, Santorum, Part Of The Solution Or Part Of The Problem

The Republican candidate Rick Santorum has a tax plan that would cut taxes, for Americans, but increase the budget deficit by nine-hundred billion in a year. This was reflected in a recent study. The more the deficit increases, the less the American dollars is worth. His plan is a short term fix, with no long term benefits.

The taxes 2012 Santorum plan would create a substantial tax cut of approximately seven-thousand and eight-hundred dollars for about sixty-nine percent of Americans. The problem with his proposal is that the households, which would benefit the most, are the richest ones in the … Read the rest

The New Jersey Millionaires Tax Bill

New Jersey Democrats are slated to introduce a new “millionaires” tax bill. Senator Ray Lesniak (D-NJ) and other representatives seem to want all their constituents, including the extremely wealthy, to shill out more money to help stabilize New Jersey’s economy.

Governor Chris Christie, however, has promised to veto any proposed tax increases, which pundits interpret to be symbolic efforts made by Democratic legislators to rally the troops. The party wants to repair its blue-collar credentials by appealing to working-class voters, a demographic that is angrily responding to legislation that curtails employee benefits and rights.

Lesniak has said that … Read the rest

California Faces Battle Over Budget

A budgetary showdown is looming in California over taxes 2010 as a constitutional deadline approaches. California which is the eighth largest economy in the world, faces running out of money if no budget is approved by the first of July. This would force California to issue IOUs as was done in 2009. The California constitution requires any tax increase to be approved by two thirds of the legislators. At the present time the Democrats need four more votes to pass the budget but the Republicans are vowing they will block its passage.

Top ranked Republican Jim Neilsen of the Assembly … Read the rest