taxes
If you have $34 Billion in the bank, are you still a non-profit?
Quite a discussion over at Blue Mass Group about the possibility of taxing the endowments of Harvard ($34b, according to the Globe) and other private universities in the Commonwealth.
Note to Harvard folks: Locked-down campus wifi unavailable to visitors doesn't make you any friends in this discussion.
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It's not just the new loophole
The Massachusetts Budget and Policy Center takes a look at the House's proposed tax modifications (the ones that will give large companies a new loophole). Among other things:
... The amendment appears to take away from the Massachusetts Department of Revenue much of the standard authority that departments of revenue generally have to adopt regulations that implement the law. Reducing the regulatory authority of the department could strengthen the hand of companies with the capacity to design sophisticated tax avoidance strategies by weakening the capacity of the department of revenue to ensure that our tax laws are implemented in a fair, effective and efficient manner. ...
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A great time to increase a tax
Right before the opening pitch. Of course, they could steal a page from Mitt Romney and call it a fee.
Speaking of taxes, Sean Roche makes the case for increasing the state gasoline tax from 21 cents a gallon - where it's been since 1991 - to 40 cents a gallon:
... The current gas tax pulls in $600 million per year. Raising it to 40 cents would reap an additional $629 million per year (at $34 million in revenue per cent of gas tax). Think that wouldn't help ease the difficulties we're having paying to maintain our transportation infrastructure?
This isn't just a mathematical game to bolster the argument for a higher gas tax. The cost of maintaining our transportation infrastructure is closely tied to the cost of gas. Revenue from the gas tax ought to rise proportionally with the price of gas. ...
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Bank Crap
- Barbara Diamond's blog |
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Seeing racism in Deval Patrick's attempt to bring back a tax
Philip Greenspun, who is a pilot, doesn't like Deval Patrick's effort to revive a sales tax, repealed in 2002, on aircraft and aircraft maintenance:
... Maybe "young, gifted, and black" translates to "try to tax things that can move at 500 mph; send jobs to states governed by old, boring, and white people. ...
Yeah, because as a white person, I sure feel put upon that Patrick is going to try to tax my personal jetcopter, the one I was promised as a kid.
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Forget casinos, Mr. Patrick - invest in some new personnel at the Department of Revenue
Channel 4: State owed $2.2 billion in back taxes:
... A two-month analysis of Massachusetts tax scofflaws from Boston to the Florida coast shows while most ordinary taxpayers pony up when the tax bill comes due – even in this difficult economy - some of our wealthiest neighbors repeatedly snub their nose at their tax obligations. ...
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When free really means "free"
Tape details some stupidity involving the Department of Revenue and a list of allegedly free online tax-filing services, at least one of which is charging $14.95 for its "free" service.
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Jiggering the tax rolls
As a Boston homeowner, sure, I'd love to see my property taxes go down $200 a year, which is what Tom Menino says would happen if the legislature passes Deval Patrick's proposal to let local governments raise their own meals and telecommunications taxes.
But is Tom Menino making a mistake by trying to get the legislature to ensure that all the money from such taxes goes to property-tax relief? Legislators on the other sides of the Charles and Neponset don't really care all that much about Boston homeowners; they care even less about the mayor of Boston telling them what to do - especially when the speaker of the House (Boston's own Sal DiMasi) has already come out against the whole local tax thing.
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