Tag Archives: President Obama

From Washington & Albany — August 2014

I.   From Albany: Perils of Being a Rich State in the Federal System If the United States were the European Union, New York, Connecticut and New Jersey could be compared to Germany and France, which subsidize less wealthy E.U. members. … Continue reading

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Tax News & Comment — August 2014

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From Washington & Albany — Washington: New Taxes Arrive; Governor Cuomo: NY Taxes Too High

I.         From Washington A rainbow of new federal income taxes arrived on January 1, 2014, led by the new 3.8 percent “Medicare” tax imposed by IRC §1411. Although enacted as part of the health care legislation of President Obama, … Continue reading

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Tax News & Comment — February 2014

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Like Kind Exchanges in Crosshairs of President Obama and Congress

Like Kind Exchanges in Crosshairs of President Obama and Congress The Joint Committee on Taxation recently released its estimates of federal tax expenditures for the years 2012 through 2017. The five-year cost for Section 1031 was estimated to be $42 … Continue reading

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Summary of Tax Changes Under American Taxpayer Relief Act of 2012

           (1)    Ordinary Income.         Beginning in the 2013 taxable year, single taxpayers with ordinary income over $400,000 and married taxpayers filing jointly whose income exceeds $450,000 will be subject to a new higher 39.6 percent tax rate. [These … Continue reading

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Second Term Blues Visit President Obama

Congress Grants One Year Reprieve For Affordable Care Payments President Obama has suffered a precipitous decline in his approval rating since late April, when that indicator was at 50 percent. Today, Mr. Obama enjoys the approval of only 45 percent … Continue reading

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