Tag Archives: Taxes

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Washington’s top tax official forced out amid scandal

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US tax agency chief Steve Miller has had to leave his job after it emerged his staff had singled out conservative groups for extra scrutiny.

President Barack Obama announced his departure on Wednesday.

Obama said the Treasury Secretary had asked for and accepted the resignation of Miller, who was acting commissioner of the Internal Revenue Service (IRS).

“I have reviewed the Treasury Department watchdog’s report and the misconduct that it uncovered is inexcusable. It is inexcusable and Americans are right to be angry about it and I am angry about it,” Obama told reporters.

“I will not tolerate this kind of behaviour in any agency but especially in the IRS given the power that it has and the reach that it has in all of our lives.

“Given the controversy surrounding this audit it is important to institute new leadership that can help restore confidence going forward.”

Requests for tax-exempt status by groups associated with the conservative Tea Party movement are said to have been subjected to “overly aggressive” reviews.

The US Justice Department has launched a criminal investigation.

The IRS controversy is one of several points of weakness in the Obama administration that Republicans are seeking to exploit. Senior Republicans such as former Vice-President Dick Cheney and one-time presidential candidate John McCain have slammed what they say was a government ‘cover-up’ of an attack on the US embassy in the Libyan town of Benghazi last September. The allegation is that Obama and his team downplayed the involvement of al-Qaeda cells in the attack in order not to harm Obama’s re-election chances. On Wednesday the White House released 99 pages of e-mails between various agencies including the CIA, the State Department and the FBI that government officials claim prove there was no organised cover-up.

And Obama is also under fire for restricting press freedom after it emerged the US Justice Department secretly seized phone records of Associated Press. It’s widely believed US authorities subpoenaed the records to try to identify who provided information about an alleged terrorist plot in Yemen. The US Attorney’s Office has said it values press freedom but is obliged to balance these with national security and public interest.

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Mike Tyson stuns Fox News host by saying he likes taxes and Obamacare

Retired professional boxer Mike Tyson on Monday briefly shocked Fox & Friends host Brian Kilmeade by saying that he was “looking forward” to paying taxes to the federal government, but hoped to save money with “Obamacare.” The former heavyweight champion told Kilmeade…

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10 tax dodges that help the rich get richer

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Colorado considers huge legal weed tax

Taxes on recreational marijuana legalized in Colorado could be so high that recreational users may continue to rely on illegal sales. As HuffPo reported Monday:The House-Senate committee, which will introduce a bill this week drafted from the 58 recommendations that the pot task force issued last month with taxes being one of several issues the committee is considering, would ask voters to approve a 15 percent excise tax and a 15 percent special sales tax. Those rates plus existing local and state tax rates — for food and beverage sales in Denver, the the combined total tax rate is 8 percent — could mean a total tax rate 0f 38 percent on marijuana purchases in the Denver area. Currently, medical marijuana is taxed like all food and beverage sales are and fluctuates from county to county, in Denver that rate is just 8 percent.The proposed Colorado taxes are markedly higher than the taxes placed on recreational marijuana in the only other legalization state — Washington. At present, Washington state’s  measure “Initiative 502” legalized small amounts of marijuana and marijuana products for people 21 and older adults and established an excise tax on those products of 25 percent.Continue Reading… Read More

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Brickbat: Taxing Situation

Officials in Amsterdam fined
hundreds of Holocaust survivors for not paying taxes while they
were in hiding or in
concentration camps. A student doing research on Amsterdam’s
Jewish residents discovered documents showing the city attempted to
collect those taxes and fines after survivors returned and
continued those efforts as late as 1947. Current city officials say
they will look into the matter. Read More