A group of wealthy people that includes Warren Buffett, George Soros and former President Jimmy Carter is pressing Congress to roll back estate tax parameters, saying the current set-up leaves “too much revenue on the table.” The group of roughly three dozen people released a statement on Tuesday calling for both the current estate tax exemption to fall, from roughly $5 million a person to $2 million, and for the rate to rise from a top level of 35 percent to a minimum of 45 percent. [The Hill, FairEconomy.org]
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GC Weekend: Take a Break, We Insist
Here it is, Sunday evening so we thought we’d check on all you weekend warriors. Now that the day is over, you can relax and do whatever it is you do on Sunday evenings. Personally, we’d recommend watching some lady slaying courtesy of Don Draper but if reading up on more healthcare policy debate is your thing, knock yourselves out.
Even though lots of you are probably too exhausted to keep your eyes open to read this, we’ll kindly remind you that there’s only two more days to go. Yes, we realize you 1040 prep experts still have a month to go and we’ll give your recognition in due course.
As for the rest of you, give yourselves a pat on the back and have a drink, do a jay, whatever gets you in the mood for love or simply vegging out in front of the tube because you’ve earned it. You’re going to make it through another tax season despite all those times you considered quitting in the middle of it.
And if this is your first tax season, special congrats to you. You’re well on your way to becoming a glutton for punishment courtesy of tax deadlines for many years to come. Cheers.
The Wall Street Journal, For One, Has No Problem Making Mitt Romney’s Tax Plan Mathematically Possible
Late yesterday (or for you nostalgic types, in today's print edition), the Wall Street Journal […]
Just So You’re Aware: Romanian Pols Vote Down Witch Tax Due to Curse Risk
That’s what’s being claimed anyway:
Lawmakers Alin Popoviciu and Cristi Dugulescu of the ruling Democratic Liberal Party drafted a law where witches and fortune tellers would have to produce receipts, and would also be held liable for wrong predictions, a measure which was part of the government’s drive to increase revenue.
Romania’s Senate voted down the proposal Tuesday. Popoviciu claimed lawmakers were frightened of being cursed.
It’s unclear if Popoviciu and Dugulescu will try to redraft the law.
Maria Campina, a well-known Romanian witch, told Realitatea TV Thursday it is difficult to tax thousands of fortune tellers and witches partly because of the erratic sums of money they receive.
What’s unclear is how the God-fearing Romanian Tea Partiers feel about the situation since the Devil’s work is clearly being done without any appropriate sin tax.
[via TaxProf and Tax Docket]