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Tax Law

NEWS
December 30, 2012 | By Edward Cody, Washington Post
PARIS - France's Constitutional Council, in a stinging political rebuke to the Socialist government, ruled Saturday that an emblematic new law that imposes a 75 percent tax rate on earnings above $1.3 million is unconstitutional. The ruling was based on technical grounds, and President Francois Hollande's government pledged to make the necessary adjustments. But Hollande had made the 75 percent rate an anti-rich symbol during his presidential campaign, and, as a result, the council's judgment was seen as an embarrassing political setback.
NEWS
December 16, 2012
Applaud a group of retired state and federal judges from Pennsylvania who want Congress to open the curtain on secret campaign donors. Judges, even when they're retired, rarely comment on public issues. But after watching the 2012 elections play out with hundreds of millions of dollars spent to secretly finance political ads, the judges decided to speak out. They rightly argue that knowing who is behind a campaign ad gives voters more of a chance to evaluate that ad's credibility.
NEWS
December 13, 2012
Don't complain about tax hikes Anyone against a tax increase for the wealthiest Americans is either one of the wealthiest Americans or probably doesn't understand our tax system ("Obama, Boehner trade new offers," Wednesday). Federal tax rates have always been graduated. Presently, they start at 10 percent and increases rapidly to 25 percent for "single" taxpayers who have a net income of more than $34,500. They increase to 28 percent for incomes above $83,600. After that, the progression slows considerably.
NEWS
December 10, 2012
General Electric has been slowly moving manufacturing jobs from China and Mexico to the United States, and Apple says it will spend $100 million to manufacture Mac computers in this country. That sounds like the beginning of a good trend, but it needs a shove. Democrats in the last election made campaign promises to pass legislation to eliminate the destructive practice of rewarding businesses for putting Americans on the unemployment line by allowing companies to take a tax deduction for the cost of exporting jobs overseas.
NEWS
December 7, 2012 | By Sally A. Downey, Inquirer Staff Writer
Terence K. Heaney, 71, of Gulph Mills, a lawyer and certified public accountant, died of complications from esophageal cancer Sunday, Dec. 2, at Neighborhood Hospice in West Chester. Mr. Heaney was a partner with the law firm of Heaney, Kilcoyne, Bleczinski & Kelm in King of Prussia. As an authority on tax law, he lectured at conferences and universities and participated in tax seminars around the country. He was also a guest on the subject of taxes on TV and radio programs and was often interviewed by Inquirer reporters.
SPORTS
November 9, 2012 | By Frank Fitzpatrick, Inquirer Staff Writer
Though he was sacked an astounding 29 times in 10 games as the 1976 Eagles starting quarterback, there were other reasons Mike Boryla never felt entirely comfortable in pro football. The sport's one-dimensional demands confined the curious Stanford graduate, whose restless mind and varied interests were, then as now, football anomalies. "I never really considered myself a football player," Boryla said earlier this week from his Colorado home. "I considered myself a student, an intellectual.
BUSINESS
September 22, 2012 | By Richard Rubin, Bloomberg News
A U.S. Senate committee memo said Microsoft Corp. used aggressive international tax maneuvers to avoid paying billions of dollars in taxes over the last three years. The committee memo, released for a hearing Thursday in Washington, said Microsoft used transactions with subsidiaries in Puerto Rico, Ireland, Singapore, and Bermuda to save at least $6.5 billion in taxes. The committee also disclosed that Hewlett-Packard Co. used a series of short-term internal loans that allowed the company to tap its offshore cash for domestic operations without paying taxes, according to the memo.
NEWS
March 26, 2012 | By Jim Kuhnhenn, Associated Press
WASHINGTON - The Supreme Court's ruling on the constitutionality of President Obama's health-care overhaul is likely to shake the presidential race in early summer. But the winners in court won't necessarily be the winners in the political arena. No doubt, a decision to throw out the entire law would be a defeat for Obama. His judgment and leadership, even his reputation as a former constitutional-law professor, would be called into question. But it would not spell certain doom for his reelection.
BUSINESS
March 12, 2012 | By Joyce M. Rosenberg, Associated Press
NEW YORK - A few weeks ago, President Obama released a proposal to lower the federal corporate tax rate - a move that on its face would seem to be good news for small businesses. But the president's pitch isn't getting rave reviews. Advocates for small business say the plan would benefit a relatively low number of small companies and leave many business owners with higher tax bills. The proposal, released Feb. 22, calls for the top corporate tax rate to fall from its current 35 percent to 28 percent.
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