Lunch Links: Trump Expected to Announce New Tax Plan Details Tonight; NY Times, WashPost Say They Would Publish Trump’s Tax Returns No Matter How Obtained; Arizona Voters Uncertain on Ending State Income Tax; IRS Raps On Nelly
September 13, 2016
Today is September 13, International Chocolate Day due to the birth on this date of Milton S. Hershey. Chocolate and taxes have quite a history: the first tax on it was levied by King Louis XIV of France in 1692, with Prussia following in 1704 and England in 1726; Britain reversed course in the mid-1850s as part of their free trade policy about when the first chocolate bar was put on the market.
Here are some interesting links I came across:
IRS Commissioner Impeachment Vote This Week: The House Freedom Caucus is pushing a vote on impeaching IRS Commissioner John Koskinen, with speeches today and a vote as early as tomorrow. Columnist George Will has endorsed the effort but few Americans seem to be aware of it. (Huffington Post / National Review)
Trump to Announce New Tax Proposals: The speech tonight is expected to provide more detail on his earlier proposal for child care expenses, expand unemployment benefits to cover maternity leave, offer spending rebates to lower-income families, and establish new savings accounts for child and elder care. (The Wall Street Journal)
Clinton Shares Child Care Goal: Her proposal would cap child care expenses at 10 percent of a household’s income, through tax credits and subsidies. (The Washington Post)
Tax Return Pressure: LinkedIn co-founder Reid Hoffman says he’ll give $5 million to veterans’ charities if Trump releases his tax returns by October 19. Meanwhile, Executive Editor Dean Baquet of The New York Times and Associate Editor Bob Woodward of The Washington Post say they’ll publish Trump’s tax returns even if they’re obtained illegally. (Bloomberg / Washington Examiner)
Libertarian VP Candidate Threatens Debate Commission Tax-Exempt Status: Former Massachusetts Gov. Bill Weld, the VP candidate on the Gary Johnson-Weld Libertarian ticket, says by using criteria designed to keep out third-party contenders, the Commission on Presidential Debates is bipartisan and not nonpartisan and thus wouldn’t qualify for tax-exempt status. The CPB’s co-chairs are an ex-head of the Republican national committee and an ex-Democratic White House press secretary. (The Hill)
Arizona Voters Uncertain about Ending State Income Tax: An Arizona Republic poll finds 37 percent would swap an income tax repeal for a 5-point sales tax boost. (Sales taxes in the state average 8.25 percent.) Forty percent are opposed and 24 percent were uncertain. (Arizona Republic)
Nelly Slapped with IRS Lien: The rapper owes the IRS $2,412,283. He also owes taxes to Missouri. (Forbes)
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