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Tax Holiday

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NEWS
April 8, 2012 | By Harold Holzer
Americans are enjoying a brief tax holiday this year - filings are not due until April 17 - and credit for the postponement goes to an unexpected hero: none other than Abraham Lincoln. (Of course, Lincoln was also responsible for introducing federal income taxes in the first place, but that is another story.) The explanation for the reprieve has nothing to do with the burdens of taxation, and everything to do with the blessings of liberty. A hundred and fifty years ago, Lincoln became the first American president to sign a law - any law - restricting slavery.
NEWS
December 18, 2011
Alana Miller is a program associate with the Pennsylvania Public Interest Research Group (Penn PIRG) An army of lobbyists on Capitol Hill is trying to convince Congress that after stashing nearly $1.4 trillion offshore to avoid paying U.S. taxes, corporations should get a massive tax discount for bringing the money back to America. We've done this before. In 2004, Congress gave corporate America a "repatriation holiday" on the promise of job creation. Yet rather than hiring workers, the firms that benefited most actually shed jobs, bought their own stock to boost the price, and increased executive pay. Anticipating the next holiday, they then shifted even more profits offshore.
BUSINESS
January 7, 2013 | By Harold Brubaker, Inquirer Staff Writer
Despite all the drama leading up to New Year's Day, the tax deal signed Thursday by President Obama did virtually nothing to change the trajectory of the U.S. government's debt-laden finances. The deal raised some taxes, but not enough to prevent the slow starvation of federal programs to help the poor and elderly, according to advocates for such programs. By leaving spending cuts off the table for the most part, the American Taxpayer Relief Act of 2012 set up what is sure to be an ugly fight over raising the nation's debt limit by early March.
BUSINESS
February 11, 1991 | By Andrea Knox, Inquirer Staff Writer
For men and women serving in the Persian Gulf, the federal government and many states have removed at least one worry: taxes. Military and support personnel serving in the gulf any time after Aug. 2, 1990, will not be required to file 1990 federal income-tax forms until 180 days after leaving the combat zone. They should be prepared to document service in the gulf when they file; a copy of call-up orders is the best documentation. In other federal regulations: Military pay received by enlisted personnel while in the combat zone is exempt from income tax. For commissioned officers, up to $500 a month of military pay is nontaxable.
NEWS
December 26, 2011 | By Charles Krauthammer
What even minimally rational government enacts payroll-tax relief for just two months? As a matter of practicality alone, it makes no sense. The National Payroll Reporting Consortium, representing those who process paychecks, said of the two-month extension of the payroll-tax holiday passed by the Senate just days before the new year: "There is insufficient lead time to accommodate the proposal," because "many payroll systems are not likely to...
NEWS
February 19, 2001 | By Loretta Tofani, INQUIRER STAFF WRITER
Jackie and Derrick Holmes perused the computers at Camera Sound in Center City yesterday before settling on the computer, printer and monitor that they purchased for $1,199 - without sales tax - for themselves and their three children. "I was thinking about getting a computer at Christmas, but I didn't," said Derrick Holmes, 41, a bill collector who lives in the city's Logan section. "Then I saw this little blurb in the newspaper about the tax-free sale this week, and I knew I was getting one. " So did many other shoppers.
NEWS
February 7, 2000
Gov. Ridge's proposal for a summertime sales tax holiday to help more people get wired on computers needs to be expanded - if he really wants to help close what's called the "digital divide. " The divide refers to the trend that middle- to high-income households are much more likely than low-income families to own computers and be online. Mr. Ridge's plan only consolidates the advantages upper-income families enjoy in an information-driven economy. The idea of the late-August tax holiday during back-to-school shopping time is to encourage parents to buy computers for their children.
NEWS
December 5, 2008 | By Cynthia Burton INQUIRER STAFF WRITER
Republican gubernatorial candidates have been busy this week building support for a primary election that is still a half-year away. And political scientist Ben Dworkin said nothing could be better for a party that's been on a long losing streak. "There will be a Republican primary for governor, and it will be a vigorous one," predicted Dworkin, director of the Rider Institute for New Jersey Politics. "And it's very much needed by the Republican Party, which will need to find a way to coalesce around its central ideas and themes.
NEWS
May 27, 2008
GAS PRICES are at record highs, and Americans are feeling a financial strain as we spend more of our income at the pump and grocery store. Many people are having difficulties making ends meet and are frustrated that our energy policy is clearly not working. In a recent op-ed ("We Need a Gas-Tax Hike, not a Tax Holiday," May 11) two adjunct Penn profs pretend to offer a solution but advocate a gas-tax hike to permanently increase the financial pain. They believe we need to drastically reduce our consumption.
NEWS
May 6, 2008 | By Chris Satullo
Let us talk of oil and IQ, of economics and elitism, of blue collars and empty words. Hillary Clinton (dieseling through her night of the living dead) has joined John McCain (ah, Straight Talk Express, where have you gone?) in doing what politicians often pledge - but rarely pull off. They have forged consensus. Every analyst with half a clue about economics, every observer with any grasp of sound energy policy, is voicing agreement on one point: The McCain-Clinton plan for a summer "gas-tax holiday" is the dumbest idea a serious presidential candidate has pushed in a very long time.
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BUSINESS
January 7, 2013 | By Harold Brubaker, Inquirer Staff Writer
Despite all the drama leading up to New Year's Day, the tax deal signed Thursday by President Obama did virtually nothing to change the trajectory of the U.S. government's debt-laden finances. The deal raised some taxes, but not enough to prevent the slow starvation of federal programs to help the poor and elderly, according to advocates for such programs. By leaving spending cuts off the table for the most part, the American Taxpayer Relief Act of 2012 set up what is sure to be an ugly fight over raising the nation's debt limit by early March.
NEWS
January 2, 2013 | By Zachary A. Goldfarb, Washington Post
WASHINGTON - Americans are all but certain to face a broad hike in taxes on Tuesday for the first time in at least two decades, ending a prolonged period of declining taxation that has become a defining characteristic of the American economy. Regardless of whether President Obama and Congress reach an agreement to avoid the fiscal cliff, many Americans will see a higher tax bill because of the expiration of the payroll tax cut, which was enacted in 2011 as a temporary measure to boost economic growth.
BUSINESS
June 1, 2012 | By Linda Loyd and Inquirer Staff Writer
Online retail giant Amazon.com will invest $130 million in New Jersey, build two warehouses, and bring 1,500 full-time jobs to the state, Gov. Christie announced Wednesday. In return, the Seattle-based Internet retailer will collect the state's 7 percent sales tax from New Jersey residents who buy online starting in July 2013. Christie said at a news conference that the tax collection would bring an estimated $30 million to $40 million a year to the state. The deal is contingent on Amazon receiving tax incentives to finance construction of the warehouses in cities that were not named.
NEWS
April 8, 2012 | By Harold Holzer
Americans are enjoying a brief tax holiday this year - filings are not due until April 17 - and credit for the postponement goes to an unexpected hero: none other than Abraham Lincoln. (Of course, Lincoln was also responsible for introducing federal income taxes in the first place, but that is another story.) The explanation for the reprieve has nothing to do with the burdens of taxation, and everything to do with the blessings of liberty. A hundred and fifty years ago, Lincoln became the first American president to sign a law - any law - restricting slavery.
NEWS
February 9, 2012 | By Angela Delli Santi, Associated Press
TRENTON - Amazon.com, the world's biggest online retailer, is in talks to open two warehouses in New Jersey in a deal that could bring 1,500 full-time jobs to a state where unemployment has hovered around 9 percent. State Assembly Democratic Leader Louis D. Greenwald, who has been involved in the talks, said Amazon was seeking a 22-month sales-tax holiday - opposed by some retailers and at least one lawmaker. The Seattle-based online retailer is not required, as brick-and-mortar retailers are, to collect the 7 percent state sales tax for purchases.
NEWS
December 26, 2011 | By Charles Krauthammer
What even minimally rational government enacts payroll-tax relief for just two months? As a matter of practicality alone, it makes no sense. The National Payroll Reporting Consortium, representing those who process paychecks, said of the two-month extension of the payroll-tax holiday passed by the Senate just days before the new year: "There is insufficient lead time to accommodate the proposal," because "many payroll systems are not likely to...
NEWS
December 18, 2011
Alana Miller is a program associate with the Pennsylvania Public Interest Research Group (Penn PIRG) An army of lobbyists on Capitol Hill is trying to convince Congress that after stashing nearly $1.4 trillion offshore to avoid paying U.S. taxes, corporations should get a massive tax discount for bringing the money back to America. We've done this before. In 2004, Congress gave corporate America a "repatriation holiday" on the promise of job creation. Yet rather than hiring workers, the firms that benefited most actually shed jobs, bought their own stock to boost the price, and increased executive pay. Anticipating the next holiday, they then shifted even more profits offshore.
NEWS
December 13, 2011 | By Kathy Boccella, INQUIRER STAFF WRITER
The Montgomery County Commissioners inched closer to solving their historic budget crisis - which could see programs eliminated, some 500 people laid off and taxes raised up to 28 percent - after listening to pleas for more money from department heads. Most of the administrators said they could not live with five to 11 percent cuts needed to close a $44.5 million budget gap. County President Judge Richard Hodgson said such cuts to the courts' budget would bring the court system "to its knees.
NEWS
July 23, 2011 | By Joan Lowy, Associated Press
WASHINGTON - Efforts to avert a shutdown of the Federal Aviation Administration failed Friday amid a disagreement over a $16.5 million cut in subsidies to 13 rural communities, ensuring that at midnight, nearly 4,000 people would be temporarily out of work and federal airline ticket taxes would be suspended. Hundreds of workers in Atlantic City would be among those furloughed. Lawmakers were unable to resolve a partisan dispute over an extension of the agency's operating authority, which was to expire at 11:59 p.m. Friday.
NEWS
June 26, 2011
Republican leaders in Harrisburg have crafted a state budget with deep cuts in funding for education and other critical programs while letting natural-gas drillers off the hook for paying their fair share toward meeting Pennsylvania's needs. What a cynical debut for freshman Gov. Corbett's fiscal stewardship. The Senate was scheduled to return Sunday to prepare to implement a budget deal that came together late last week without input from Democratic lawmakers. So, there's still time to chart a course that confronts fiscal reality while spreading the burden more fairly.
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