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By New York Times News Service | September 14, 1990
WASHINGTON -- Under mounting pressure to conclude an agreement on cutting $50 billion from next year's federal deficit, White House and congressional budget negotiators remained at loggerheads yesterday over the issue that has dogged them for the past four months: reducing the tax rate for capital gains.Documents made available to reporters late yesterday showed that the latest Republican proposal on taxes includes tax breaks for business, including oil and gas producers, as well as the capital-gains tax reduction.
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NEWS
May 30, 2014
I am at this moment sitting in my mother's apartment; she is 102 and I remain with her as a caregiver weekdays from 6:30 p.m. to 11 a.m. and all day Sunday. Three very nice ladies cover for me when I'm not here, but keeping them is very expensive. I have been caring for my mom since 2012 and haven't been in my own bed at home two blocks away since then. The level of care my mother needs has risen, and now she needs a person with her 24/7. I don't object; she was a single mom and worked hard to care for our family, so now it's my turn.
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NEWS
October 1, 2011
Why is it that when I send my money out to work, it is taxed at a lower rate than when I go to work? Recent discussions of marginal tax rates, limits on deductions, and class warfare miss that essential question about our personal (not corporate) taxes. Some argue that capital fuels our economy and that taxing dividends or gains at all is a disincentive to investment. I would suggest the opposite. When a corporation (and nearly all job generating businesses are) generates profits, it can reinvest or pay out to shareholders.
NEWS
By Jules Witcover | August 20, 2012
For all the media clamor for Mitt Romney to come clean on his past tax returns, maybe his campaign advisers would be better off just advising him to keep quiet on the matter, before he gaffes again. Mr. Romney's supposedly clarifying remark that he has "never paid less than 13 percent" in taxes in any recent year only raises another question. Does he realize he's paid barely more than half the marginal income tax rates of 25 percent to 35 percent that many Americans living on wages and salaries have to kick in?
FEATURES
By Laura Lippman and Laura Lippman,SUN STAFF | April 15, 1998
WASHINGTON -- "Wouldn't it be interesting," Charles Demere muses, "to ask people to fill in that blank? 'Money is ... Money is ...' You'd learn a lot about them, don't you think?"Demere, 69, a semi-retired Episcopal priest, is sitting over a simple lunch of black beans and rice at Potter's House, a church cafe-bookshop in Washington's Adams-Morgan neighborhood. The subject at hand is one of life's two sure things -- taxes -- and this leads invariably to the meaning of money.He plays his own game.
NEWS
By Dan Berger | September 7, 2001
President Fox cannot get what he wants from his own Congress, so he is trying ours. George has the answer to revenue shortfalls: Cut the capital gains tax. Let's everyone run for Baltimore state's attorney. Last one in has to stay. "Reality television" gives both reality and television a bad name. Cheer up. Concorde will fly again.
NEWS
By Garry Wills | September 14, 1990
Washington. THE PRESIDENT went on television to explain the American stand in the Middle East -- and to ask, once again, for a cut in the capital-gains tax. The last is a kind of obsession with Mr. Bush, and it tells us that he has not learned the lesson of the 1980s. That period of giving breaks to the rich led to the atmosphere of greed and speculation that produced scandals at the S&Ls, at HUD, at the Department of Defense.The best advice on this matter comes from a Japanese critic of American business practices, Shintaro Ishihara.
NEWS
January 30, 1991
President Bush proposed:* A bank reform plan that relies on the banking industry to shore up the federal deposit insurance fund.* A transfer of $15 billion in domestic programs from the federal government to states in a single consolidated grant.* That Fed Chairman Alan Greenspan head a joint congressional and Federal Reserve Board study of a capital gains tax incentive.* Elimination of political action committees.* A comprehensive national energy strategy combining conservation, development, and greater use of alternative fuels.
NEWS
January 28, 1994
Committee to hear testimony on taxANNAPOLIS -- The Senate Budget and Taxation Committee will hear testimony at 1 p.m. today on a bill sponsored by Sen. Larry E. Haines, R-District 5, on lowering the state's capital gains tax.Mr. Haines, a Westminster Realtor, is sponsoring Senate Bill 204, which would reduce the amount of capital gains subject to taxes.Currently, 100 percent of the profit from an investment is taxed. Only 50 percent would be taxed under the senator's proposal.3 injured in accidents are in Shock TraumaThree people who were injured in two traffic accidents Jan. 20 and 21 remained in the Maryland Shock Trauma Center in Baltimore yesterday.
BUSINESS
March 20, 1997
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: In February 1997, I sold a sizable amount of stock. I file quarterly estimated federal taxes. Must I pay any of the capital gains tax from that sale during '97 or may I wait and pay when filing '97's tax return in '98?A: You may qualify for "safe harbor" estimated taxes by paying taxes equivalent to your 1996 tax liability and then paying the remainder, if applicable, at the time of filing in 1998.
NEWS
By David Horsey | August 19, 2012
The Republican team of Mitt Romney and Paul Ryan is less about the future than it is about nostalgia for a past that many Americans imagine was better -- a time when businessmen were free of government meddling and all citizens, even the poor, old or handicapped, were expected to fend for themselves or scrape by on charity. From the election of Franklin Delano Roosevelt in 1932 until the election of Ronald Reagan in 1980, a different, liberal ethic drove our politics, even during the Republican administrations of Eisenhower, Nixon and Ford.
NEWS
January 28, 2012
In his State of the Union Address, President Obama barely touched on the country's soon-to-be $16 trillion national debt, massive joblessness, entitlement insolvency, economy-crippling government regulations and the other compelling issues ("Obama targets economy, taxes in address," Jan. 25). Sounding like an Occupy Wall Street interviewee, he once again attributed virtually all of the country's ills to the supposed failure of "millionaires and billionaires" to pay their "fair share.
NEWS
October 1, 2011
Why is it that when I send my money out to work, it is taxed at a lower rate than when I go to work? Recent discussions of marginal tax rates, limits on deductions, and class warfare miss that essential question about our personal (not corporate) taxes. Some argue that capital fuels our economy and that taxing dividends or gains at all is a disincentive to investment. I would suggest the opposite. When a corporation (and nearly all job generating businesses are) generates profits, it can reinvest or pay out to shareholders.
BUSINESS
April 10, 2007
Editor's note: Every Tuesday through the end of tax season, The Sun will run an edited transcript of baltimoresun.com's weekly tax advice column featuring three experts from the Hunt Valley accounting firm SC&H Group. My father "gifted" his house to my sister and me in October 2005. He retained lifetime rights. He passed away in June last year, and we sold the house in December. Do we owe capital gains tax? If so, on what portion? - Valerie, Pocomoke, Va. The tax basis in the house will be the same as your father's basis - increased by a proportional amount of any gift tax that he paid when he transferred the house to you. Assuming that he purchased the house, your dad's basis would be the cost that he paid plus any improvements made to the house.
NEWS
By PETER A. BROWN | December 6, 2005
ORLANDO, FLA. -- It may be politically correct to decry those who act out of self-interest, yet human nature drives most of us that way in our daily lives. That's exactly why no matter how rich or poor you may be, the congressional standoff over extending the capital gains tax cut ought to scare you silly. Those who want to raise the levy on investment profits because they see it mostly benefiting the rich may be correct in its direct impact. But their financial naivete could cost you serious money even if you wouldn't know a bond from a banana.
NEWS
By LOS ANGELES TIMES | November 16, 2005
WASHINGTON -- Senate tax writers dropped an effort yesterday to extend one of the tax cuts President Bush strongly supports, underscoring a growing rift in the Republican-controlled Congress. The Senate Finance Committee left out of a $60 billion tax-cut measure an extension of a dividend and capital gains tax cut due to expire at the end of 2008. The action sets up a likely showdown with the House of Representatives, where GOP leaders support extending the lower tax rate for income derived from investment profits.
NEWS
By LOS ANGELES TIMES | November 16, 2005
WASHINGTON -- Senate tax writers dropped an effort yesterday to extend one of the tax cuts President Bush strongly supports, underscoring a growing rift in the Republican-controlled Congress. The Senate Finance Committee left out of a $60 billion tax-cut measure an extension of a dividend and capital gains tax cut due to expire at the end of 2008. The action sets up a likely showdown with the House of Representatives, where GOP leaders support extending the lower tax rate for income derived from investment profits.
NEWS
By Cox News Service | February 23, 1992
WASHINGTON -- President Bush accused congressional Democrats yesterday of brushing aside his anti-recession plan and substituting a package of tax changes that make "no economic sense.""They chose politics over duty," Mr. Bush charged in a recorded radio speech.Last week, House Democrats fashioned a proposal that would cut middle-income taxes by $200 per person and that would raise tax rates for wealthy Americans. The plan also includes a tax cut for future profits on capital investment.By contrast, Mr. Bush would not raise rates for the wealthiest taxpayers.
BUSINESS
By Humberto Cruz | August 21, 2005
Q. I was very interested in your comment that, for 2008 only, people in the 15 percent and lower tax bracket would not be taxed on long-term capital gains. If this is true, I would be able to cash in some stock for a large tax savings. A. This passing comment in a recent column has generated more than 100 letters and e-mails from readers. Nearly half said their accountants didn't know anything about such a rule. That's amazing, considering that this tax break is part of the hotly debated 2003 law that lowered tax rates on long-term capital gains and stock dividends.
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