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thinkahol *

Subsidizing Profits, Weakening Social Security: The Employer Payroll Tax Cut | Truthout - 0 views

www.truth-out.org/...1309872784

Subsidizing Profits Weakening Social Security: The Employer Payroll Tax Cut | Truthout

shared by thinkahol * on 05 Jul 11 - No Cached
  • thinkahol * on 05 Jul 11
     
    These days, it appears as though the main goal of government policy is to give as much money as possible to corporations and the wealthy. This is an area where there has been considerable success, with the profit share of GDP at near record highs and the richest 1 percent holding a larger portion of the nation's wealth than at any point since the late '20s. The proposals for an employer-side payroll tax cut should be seen in this light.
thinkahol *

Payroll Tax Holiday Could Help Create Jobs - Economic View - NYTimes.com - 0 views

www.nytimes.com/...26view.html

Payroll Tax Holiday Could Help Create Jobs - Economic View NYTimes.com

shared by thinkahol * on 27 Jun 11 - No Cached
  • thinkahol * on 27 Jun 11
     
    It's important, yes, and must be addressed. But by a wide margin, it's not the nation's most pressing economic problem. That would be the widespread and persistent joblessness that has plagued the labor market since the Great Recession began in 2008. Almost 14 million people - 9.1 percent of the labor force - were officially counted as unemployed last month. But that's just the tip of the iceberg. There were almost 9 million part-time workers who wanted, but couldn't find, full-time jobs; 28 million in jobs they would have quit under normal conditions; and an additional 2.2 million who wanted work but couldn't find any and dropped out of the labor force. If the economy could generate jobs at the median wage for even half of these people, national income would grow by more than 10 times the total interest cost of the 2011 deficit (which was less than $40 billion). So anyone who says that reducing the deficit is more urgent than reducing unemployment is saying, in effect, that we should burn hundreds of billions of dollars worth of goods and services in a national bonfire. We ought to be tackling both problems at once. But in today's fractious political climate, many promising dual-purpose remedies - like infrastructure investments that would generate large and rapid returns - are called unthinkable, in the false belief that they would impoverish our grandchildren. Yet there are other ways to attack unemployment that could garner bipartisan support. Perhaps the most promising is a payroll tax holiday.
The Ravine / Joseph Dunphy

Censorship on Campus? Time to Privatize America's Universities by Onkar Ghate -- Capita... - 0 views

capmag.com/article.asp

censorship

shared by The Ravine / Joseph Dunphy on 29 Mar 09 - Cached
  • The Ravine / Joseph Dunphy on 29 Mar 09
     
    So bad it's worth reading, because you're going to see this argument, again, I'm sure. The author argues that universities are, themselves, victims of censorship if they are not free to fire faculty members for expressing political viewpoints which they don't like, because they are being forced to support views they don't like. This is question begging, because it presupposes that by allowing them to stay on its payrolls, a university has allowed those faculty members to speak for it; that the very act of allowing them to stay signals support for their views. This is nonsense. They are paid to teach. Their political views are their own business. Making the point, quite unintentionally I would guess, that the last thing Libertarianism promotes is individual liberty. If you're not free to speak your views openly without fear of destitution, then just how free is speech, really?
Skeptical Debunker

Jobs Bill Looks Ready To Pass Major Hurdle After GOPers Join Dems | TPMDC - 0 views

tpmdc.talkingpointsmemo.com/...dle-after-gopers-join-dems.php

jobs bill USA Senate hurdle overcome

shared by Skeptical Debunker on 22 Feb 10 - Cached
  • Sen. Scott Brown (R-MA) broke with his party and voted with the Democrats. So did Sen. Olympia Snowe (R-ME). It had been uncertain earlier in the day whether any Republicans would help Democrats reach 60 votes and overcome the threat of a GOP filibuster. With Sen. Frank Lautenberg (D-NJ) out of the Senate after being diagnosed with stomach cancer, Democrats needed at least two Republican votes to overcome a GOP filibuster threat. "Work with us on this," Senate Majority Leader Harry Reid said moments before the vote. "Show us you're serious about legislating." Reid also warned Republicans: Fail to support this bill, and the minority would "confirm their reputation as the 'Party of No.'" The bill, which is much smaller than some original proposals, would exempt businesses from paying Social Security payroll taxes this year after hiring from the nation's pool of millions of unemployed. The Build-America Bonds Act of 2009 would be renewed by the jobs bill. The scaled-down bill would also extend some tax breaks for small businesses, renew highway programs through December, and put $20 billion in the highway trust fund.
  • Skeptical Debunker on 22 Feb 10
     
    At least two Republicans joined Democrats in a key cloture vote moments ago, allowing debate on a jobs package to move forward. After overcoming this hurdle, debate on the bill can begin.
Skeptical Debunker

Tax Bomber Stack Wanted Independent Contractor Status to Avoid Paying Taxes - 0 views

blog.pappastax.com/...r-status-to-avoid-paying-taxes

Joseph Stack independent contractor tax implications lawyer analysis

shared by Skeptical Debunker on 22 Feb 10 - Cached
  • Stack was upset that §1706 did precisely what it was designed to do: Deprive him of the chance to exploit independent contractor status to avoid paying taxes through non-filing or through the understatement of income, overstatement of deductions, and avoidance of income tax withholding. In spite of the overwhelming advantages attendant to employee status, Joe Stack desperately wanted to be treated as an independent contractor for one simple reason: It would have made his tax protesting easier.4 Footnotes: ¹  We have met many taxpayers who worked as independent contractors for years without so much as a peep of protest until they realized, ex post facto, that it might have better for them to have been treated as employees. In our experience, workers tend to be content with their independent contractor status until one of the following happens: They get fired or quit They get hurt on the job They get sued for something they did while on the job They need a bank loan (and employment verification)  ²  If Stack had been an independent contractor and was subsequently “fired” by his principal, my hunch is it would have taken him less time to file a claim for unemployment compensation than it takes Apolo Ohno to finish short track. ³  Indeed, §1706 was included in TRA ‘86 because the CBO had estimated that the government was losing up to 30% of taxes because independent contractors were either not reporting all of their income on their tax returns or were claiming fraudulent or questionable deductions against that income. 4   Like all tax protestors, Stack knew that once the IRS had collected his taxes through payroll withholding it would never give it back to him based on previously refuted tax protestor arguments. Consequently, his only chance of avoiding taxes was to control his own tax payments and then use his frivolous arguments to evade or at least defer paying taxes.
  • Skeptical Debunker on 22 Feb 10
     
    Enacted in 1978, §530 is a safe harbor law that lists several conditions which if met allows workers to be treated as independent contractors rather than employees.\n\n Joe Stack was compelled to burn his house down, murder his wife and children and fly his airplane into the side of a federal building because 24 years ago Congress passed and President Reagan signed into law the Tax Reform Act of 1986 that added sub-section (d) to §530 thereby excluding engineers and computer programmers from the safe harbor provisions of §530 .\n\nThe passage of this law (§1706 of the Tax Reform Act of 1986) did not as some have suggested make all engineers and computer programmers employees, it merely made them subject to the 20 factor common law test historically used for determination of a worker's status. In other words, had Joe Stack been truly independent from the company or companies to whom he provided services, he could have, should have and would have been treated as an independent contractor rather than an employee.
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