by Thomas DiLorenzo. Pro golfer Phil Mickelson, who just won the British Open, will reportedly pay a 61% tax on his earnings, including 13 1/2 percent to the state of California. (Medieval serfs paid “only” 40 percent). He’s ranked as the #2 golfer in the world. The #1 golfer, Tiger Woods, who is also a native Californian, lives in zero-income-tax ... MORE
Showing posts with label tax rates. Show all posts
Showing posts with label tax rates. Show all posts
Is Tiger Woods Smarter Than Phil Mickelson?
by Thomas DiLorenzo. Pro golfer Phil Mickelson, who just won the British Open, will reportedly pay a 61% tax on his earnings, including 13 1/2 percent to the state of California. (Medieval serfs paid “only” 40 percent). He’s ranked as the #2 golfer in the world. The #1 golfer, Tiger Woods, who is also a native Californian, lives in zero-income-tax ... MORETax Bracket Chart: California's War On The Working Class
9.3% state income tax on $47,000 of earnings. Technically, you don't have just one "tax bracket" - you pay all of the California marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar. For comparison purposes, however, your California tax bracket is the tax bracket in which your last ... MOREApple Shows It Is Time To Abolish Corporate Tax
by Evan Soltas. Tim Cook, the chief executive of Apple Inc., came to the U.S. Senate
on May 21 to advocate an overhaul of the nation's corporate tax code.
Tax profits at 20 percent, Cook said, and offer no loopholes, no deductions, no complexities. The
recommendation might seem radical. It isn't. Apple might be a visionary
in consumer ... MOREIf There Is No Inflation, Why Are Prices Up So Much?
by Michael Sivy. Last week, I ran out of ink for my printer and ordered some more online. My computer automatically pulled up the previous order, and I was shocked to see that the price of the ink cartridges I was buying had gone up 25%. To my mind, ink always seems overpriced. Manufacturers sell printers cheaply because they know that they ... MOREThomas Sowell - Prophets And Losses II
Federally-issued blue smoke and mirrors. People on both sides of tax issues often speak of such things as a "$300
billion tax increase" or a "$500 billion tax decrease." That is fine if
they are looking back at something that has already happened. But it
can be sheer nonsense if they are talking about a proposed increase or
decrease in the tax rate. ... MORECharles W. Baird: On Paying Our "Fair Share"
Marketing legalized theft. President Obama often asserts that fairness requires everyone "to play by the same rules." He then calls for raising tax rates paid by "millionaires and billionaires," but no one else. Well, Mr. President, you cannot have it both ways. Logically, if we are to enjoy what the Constitution calls "equal protection of the law," ... MOREAllysia Finley: Mickelson And The Sports Star Migration
Move from California saved Tiger $100 million. America's top-grossing golfer Phil Mickelson drove himself into a bunker on Jan. 20 when he said that federal and California state tax hikes had made him contemplate making "drastic changes" in his life—including, it was widely assumed, moving to a no-income-tax state such as Texas or Florida. ... MOREJerry Bowyer: Republican Cave Worse Than Fiscal Cliff
GOP jellyfish offer no protection for liberty. The fiscal cliff debacle showed conclusively that the GOP establishment is a completely ineffective guardian of our liberties against President Obama and the Washington ruling class. Forget fantasies about reversing the growth of the state, let alone stopping such growth; Boehner’s boys can’t even ... MOREDouglas French: Down And Out In California
Golden State is fast losing its luster. Gas in Vegas is a dollar cheaper a gallon than in the Golden State, or so a friend and recent LA transplant tells me. He went on to say the top tax rate in California is over 13%, while, of course, Nevada has no state income tax. Over dinner at Del Frisco’s, he explained how industries are being ruined by ... MOREJohn Stossel - It's The Spending, Stupid!
Why the account is overdrawn by $16 trillion. Listening to progressive media pundits, I'd think the most evil man in the universe is Grover Norquist, head of Americans for Tax Reform. His crime? He heads a movement that asks political candidates to pledge not to raise taxes. I think Grover accomplished a lot. But I wish he'd convinced ... MORECynthia V. Ward: Fairness And Freedom
Fairness is a value judgment. In the fight over taxing the rich, those with good values are losing the judgment. They are losing because they have failed to name, and defend, the moral right which ought to define fairness toward all taxpayers: the right to own and to keep the wealth you create. President Obama proudly articulates the moral case for ... MORERoss Kaminsky: Death By A Thousand Regulatory Cuts
Prepare for the worst. The public debate over the “fiscal cliff,” the combination of
automatic spending cuts and tax rate increases that our nation is
about to careen into in 2013, started the same way Republicans
always begin following an electoral setback: badly. John Boehner
seemed to be negotiating with himself, and conservative pundit ... MOREPeter Schiff: The Fantasy Of A 91% Top Income Tax Rate
An Edsel of an economic idea. Democratic Party leaders, President Obama in particular, are forever telling the country that wealthy Americans are taxed at too low a rate and pay too little in taxes. The need to correct this seeming injustice is framed not simply in terms of fairness. Higher tax rates on the wealthy, we're told, would ... MOREThomas Sowell - Fiscal Cliff Notes - Part II
Anything to expand the size and scope of government. One of the big advantages that President Obama has, as he plays "chicken" with the Congressional Republicans along the "fiscal cliff," is that Obama is a master of the plausible lie, which will never be exposed by the mainstream media-- nor, apparently, by the Republicans. A key lie that ... MOREThomas Sowell: Fiscal Cliff Notes
Like a laser cutting through fog. Amid all the political and media hoopla about the “fiscal cliff” crisis, there are a few facts that are worth noting. First of all, despite all the melodrama about raising taxes on “the rich,” even if that is done, it will scarcely make a dent in the government’s financial problems. Raising the tax rates on everybody in the ... MORESteve Chapman: Higher Taxes, Smaller Government?
Incentives needed to curb spending. It comes as no surprise to hear anti-tax activist Grover
Norquist talk about tax cuts, but it does come as a surprise to
hear him raise the subject of pink unicorns. Pink unicorns are purely imaginary—a trait he says they share
with the spending curbs that Republicans hope to get from the
administration in exchange ... MORE
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