Tax Roundup, 11/13/2012: What awaits at the bottom of the cliff. And carrots!

November 13th, 2012 by Joe Kristan

At the bottom of the cliff.  Tax Policy Blog’s  Monday Map: Tax Increase from Fiscal Cliff for Median Four-Person Family in Each State.

New Jersey gets the worst of it, while Iowa, at only 42nd place, still faces a 4.41% tax increase as a percentage of family income.  Whee!

 

Paul Neiffer,   20%/33%/45%/59% – How Much Will Your Capital Gains Rate Go Up By?!

When you fall off the fiscal cliff, you will be a bump on the road at the bottom.  Is it a fiscal cliff or merely a bump in the road? (Linda Beale)

Kay Bell,  Republican resistance to tax increase compromise crumbling?  If Republicans go along with tax increases without much larger spending cuts, they might as well sell the furniture and embrace the one-party state.

William Perez,  TIGTA Reveals Cause of Refund Delays that Occurred in Early 2012.  Thank ID theft and “Modernized E-file.”

 

But we never do it that way.  LET’S DO SOMETHING RIGHT FOR A CHANGE (Robert D. Flach):

And, as I have said over and over again, the Earned Income Tax Credit, refundable and otherwise, and refundable Child Tax Credit, which, if you call a spade a shovel, are really forms of welfare, would be better distributed via the Aid to Families with Dependent Children program – and with substantially less fraud.

But why would we want to make it hard to scam the system?

Speak for yourself!  Please Raise Our Taxes (Kaye A. Thomas)

Penalized twice:  Penalty On Qualified Retirerment Plan Withdrawal To Pay Alimony  (Peter Reilly)

TaxGrrrl, Making Sense of Income and Tax Terms

Sales tax behavioral response:  To Avoid 21% Ticket Tax, Theater Sells $16 Carrots, Gives Away Free Tickets  (TaxProf) 

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