Tax Law Archives - Page 12 of 41

Senator Who Served in Vietnam Evasive on Paying Taxes on His $7 Million Yacht After Getting Caught with Hand in Tax Cookie Jar

Boston Herald: “John Kerry bails on taxing questions. Sen. John Kerry, hounded by questions over whether he is dodging state and local taxes on his ultra-luxe $7 million sailing yacht, yesterday slammed his car door on a pack of reporters demanding to know if he would pony up to the cash-strapped commonwealth. . . . Kerry . . . wouldn’t specifically address whether he’d cough up some $500,000 in state use and local excise taxes.”

See “John Kerry – A One-Man ‘Benedict Arnold’ Corporation.”

Update: “Sen. Kerry to pay taxes for docking yacht in RI.” See also “He’s Apologizing for Getting Caught.”

The Biggest Tax Increase In U.S. History?

Forbes: “The Justice Department is calling the ObamaCare mandate a tax. . . . it amounts to what’s likely the largest tax increase in U.S. history.

Estimate Your 2011 Federal Income Tax with the Tax Calculator

Use MyTaxBurden.com‘s simple fill-in-the-blanks income tax calculator to estimate your 2011 federal income tax under any or all of the following scenarios:

Congress allows all of the Bush tax cuts to expire;
Congress acts to extend into 2011 all of the Bush tax cuts; and
Congress passes the tax laws suggested in President Obama’s budget, letting some tax cuts expire, extending some, and enacting some new tax laws.

Millionaire John Kerry Who Served in Vietnam & Pushes Higher Taxes for Americans Docks Yacht in RI to Avoid MA Taxes

How do these people continue to get reelected to office the ruling class? See “Sen. John Kerry skips town on sails tax,” which reports that

“Sen. John Kerry, who has repeatedly voted to raise taxes while in Congress, dodged a whopping six-figure state tax bill on his new multimillion-dollar yacht by mooring her in Newport, R.I. . . . Sources say Isabel [the Vietnam vet’s new yacht] l sold for something in the neighborhood of $7 million, meaning Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000.”

More proof that taxes are for the little people.

Obamacare Includes 3.8% Tax on Some Home Sales

Cato Institute: “the health-care law did include a new tax on real estate profits. . . . It’s only a 3.8 percent tax on some real estate sales, no doubt only a minority of sales . . . .”