taxes

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Homes Raided Nationwide in German Tax Fraud Probe

$5B tax dodge crackdown

(Newser) - The fallout from Germany's enormous tax evasion scandal continued yesterday as police began a nationwide raid of the homes and offices of over a hundred people. More than 1,000 rich Germans are suspected of cheating the German treasury out of $5 billion by transferring huge sums to banks and...

For Reeling SocGen, the Taxman Cometh

Rogue trader won big in '07, and the bank could owe a bundle

(Newser) - As if the $7.17 billion Societe Generale lost at the hands of rogue trader Jerome Kerviel wasn’t enough pain for the French banking giant, it’s now looking at losing another chunk of change—this time to the taxman, reports the Wall Street Journal. Investigators say Kerviel earned...

Tax Helped the Irish Bag Plastic
Tax Helped the Irish Bag Plastic
Feb 6, 2008 12:13 PM CST

Tax Helped the Irish Bag Plastic

When gov't enacted 33-cent tax, usage dropped 94% in weeks

(Newser) - "Paper or plastic?" is perhaps the last question you'll hear on the Emerald Isle, thanks to a 33-cent tax on each plastic bag that cut Irish consumption by 94% within weeks of its 2002 enactment, reports the New York Times. Cloth bags have become downright fashionable since, but strong...

Who Wins the Flip-Flop Primary?
Who Wins the Flip-Flop Primary?
Feb 5, 2008 3:20 PM CST

Who Wins the Flip-Flop Primary?

Romney and McCain spar over mind-changing label

(Newser) - John McCain and Mitt Romney are calling each other flip-floppers in new online ads that mimic a cutting anti-John Kerry 2004 campaign commercial, the Post’s Michael Dobbs reports. The ads copy its use of the "Blue Danube" Waltz to mock each other's changing views on tax cuts—but...

Britain's Official Tax Site Falters at Deadline

Citizens get extra day after web volume proves too, er, taxing

(Newser) - British taxpayers hoping to file their returns by tonight's UK deadline have been thrown for a loop by crashes of the government’s tax website, the Guardian reports. Midnight tonight is the usual deadline, but it has been extended by 24 hours. Tardy taxpayers in the UK usually face an...

Stimulus Likely To Be Recipe for Paralysis

Parties in sync now, but 'Act 2' sure to be partisan bickering

(Newser) - Get ready for that glow to wear off: The good feeling on Capitol Hill over a stimulus package will end as soon as the first deal is done, with Republicans and Democrats digging in on various economic cures. The next legislative round, Politico reports, will likely see GOPers fighting to...

Sarkozy Pitches Internet Tax
Sarkozy Pitches Internet Tax
Jan 11, 2008 4:45 AM CST

Sarkozy Pitches Internet Tax

French prez seeks to compensate for plan to ban public TV ads

(Newser) - French President Nicolas Sarkozy has proposed taxing internet access and cell phone use to compensate for a ban on advertising on state-owned television stations, reports Time magazine. A monthly tax of a single Euro would generate $290 million per year—a quarter of what would be lost from the ad...

Bush May Again Push Tax Breaks
Bush May Again Push Tax Breaks
Jan 9, 2008 12:13 PM CST

Bush May Again Push Tax Breaks

Economic stimulus plan likely to be part of State of the Union address

(Newser) - Tax relief for individuals and businesses are on the table as President Bush seeks to address recession fears, the Wall Street Journal reports. A rebate of $500 for individuals is under consideration, sources said, as is a plan to allow businesses to deduct investment in equipment. Bush is expected to...

Huckabee Woos Voters With 23% Sales Tax

'Fair tax' would abolish IRS, and be a windfall for the rich

(Newser) - Supporting a 23% sales tax ought to be political suicide, but Mike Huckabee is making it work, the Los Angeles Times reports. Huckabee has championed the so-called “fair tax,” a radical proposal that would abolish the federal income tax and tax spending instead. The plan favors the rich,...

Fed Cracks Down on Loose Lending
Fed Cracks Down on
Loose Lending
Dec 18, 2007 7:43 PM CST

Fed Cracks Down on Loose Lending

Unanimous vote marks historic shift toward regulation

(Newser) - Seeking to avoid another subprime meltown, the Federal Reserve cracked down on mortgage lending today by a unanimous 5-0 vote, the Wall Street Journal reports. If approved next year, the Fed proposals will require creditors to consider borrowers' financial and credit status, but will not prohibit prepayment penalties altogether, a...

Calif. Closer to Expanding Health Care

Assembly OKs $14B plan that mandates coverage for millions

(Newser) - The lower house of the California legislature yesterday approved a $14.4 billion bill to expand health care to millions of residents, a move analysts say could spark similar actions nationwide, the Los Angeles Times reports. But first skeptical state senators and voters must weigh in. The plan would require...

Jeter a Cheater: New York State
Jeter a Cheater: New York State
Nov 16, 2007 4:08 PM CST

Jeter a Cheater: New York State

If proven 'immersed' in Big Apple, superstar shortstop may owe millions in back taxes

(Newser) - Derek Jeter is spending the off-season denying he’s a Bronx Bomber. New York officials seeking back taxes from the Yankee—who files in Florida—have answered a judge’s demands to show the ballplayer is “immersed in the community.” If they can prove Jeter’s more a...

Lawmaker Probes TV Preachers
Lawmaker Probes TV Preachers
Nov 7, 2007 8:18 AM CST

Lawmaker Probes TV Preachers

Says ritzy ways sparked inquiry into six ministries

(Newser) - A top Republican lawmaker is probing six televangelists who have put their opulent lifestyles on display, the AP reports. Rolls Royces, private jets, and a $30,000 table are among the luxuries that sparked Sen. Chuck Grassley's inquiry, he said yesterday. "I don't want to conclude that there's a...

83% Back Sacrifice to Fight Warming

But global survey mixed on higher fuel taxes

(Newser) - Four out of five people worldwide indicated they're ready to make personal lifestyle changes to combat global warming—even those from the worst carbon dioxide spewers, China and the US, according to a BBC poll of 22,000 people. Support was mixed, however, on increasing taxes on coal and oil,...

Thompson Co-Chair Quits Over Crooked Past

Cocaine, bookmaking and other charges fell Thompson's longtime friend

(Newser) - Old drug and bookmaking charges felled a co-chair of Fred Thompson’s presidential bid today, the AP reports. Philip Martin stepped down as head of Thompson’s fundraising group after his criminal record surfaced, including charges of conspiracy and cocaine trafficking in the 1970s and '80s. “I deeply regret...

Buffett: I Should Pay More Taxes
Buffett: I Should Pay More Taxes
Oct 31, 2007 10:41 AM CDT

Buffett: I Should Pay More Taxes

'Oracle of Omaha' says scales have tipped toward the rich

(Newser) - America’s second-richest man, Warren Buffett, stood up for the little guy last night, telling NBC that he and über-wealthy people like him should pay more taxes. The system has dramatically “tilted toward the rich and away from the middle class,” he said. Surveying his office, Buffett...

Senate Would Extend Web Tax Ban 7 Years

Will have to reconcile with House bill setting exemption at 4 years

(Newser) - The Senate passed a bill yesterday to extend a ban on Internet access taxes for 7 years; it will have to be reconciled with a House bill—which has a 4-year lifespan—and signed into law by next Thursday to beat the current law’s expiration date. The bill was...

Flip-Floppers See Light—Or Just Want Job

Romney and Kerry stand in long line of political mind-changing

(Newser) - Maybe Mitt Romney and John Kerry should hold their flip-flopping heads high: Changes of mind have furthered the causes of abolition and civil rights over the centuries. Ronald Reagan defiantly claimed his biggest reversal—promising feet “in concrete” about raising taxes, then singing “the sound of concrete cracking”...

House Targets Hedge-Fund Tax Deferments

New bill would cut tax deferrals on overseas income for managers

(Newser) - Democratic Rep. Rahm Emanuel said yesterday he will draft a bill to close a loophole that allows private-equity and hedge-fund managers to defer taxes on income earned by funds abroad. Emanuel proposes to limit such tax deferrals to $19,500—the amount anyone can put into a retirement account tax-free....

10 Taxes That Sneak Up on You
10 Taxes That Sneak Up on You
Sep 1, 2007 4:01 AM CDT

10 Taxes That Sneak Up on You

Sometimes the government can get downright clever when it comes to taking your hard-earned money.

(Newser) - You don't have to be a fool to part with your money.  Forbes gives you the 10 hidden taxes that cost you the most.
  1. Gasoline tax
  2. Cigarette tax
  3. Sugar "tax"

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