Political Capital

Posts tagged: taxes

A testing pool at the General Electric Co. manufacturing plant in Montrose, U.K.

Photograph by Simon Dawson/Bloomberg

A testing pool at the General Electric Co. manufacturing plant in Montrose, U.K.

Bloomberg by the Numbers: $1.95 Trillion

The biggest U.S.-based companies have accumulated $1.95 trillion in offshore profits after adding $206 billion to those stockpiles last year. The multinational companies have an incentive to park profits overseas because federal lawmakers haven’t decided how those funds should be...

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Jenny Beth Martin, right, of the Tea Party Patriots poses for pictures at rally in front of the U.S. Capitol on June 19, 2013.

Photograph by Mark Wilson/Getty Images

Jenny Beth Martin, right, of the Tea Party Patriots poses for pictures at rally in front of the U.S. Capitol on June 19, 2013.

IRS to Tea Party: You’re In

The Internal Revenue Service has granted tax-exempt status to one of the largest Tea Party organizations in the U.S. — a designation that came after a three-year delay and on the eve of a congressional hearing about the agency’s proposed...

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Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, during a news conference on a proposed restructuring the U.S. tax code in Washington, D.C., on Feb. 26, 2014.

Photograph by Andrew Harrer/Bloomberg

Representative David "Dave" Camp, a Republican from Michigan and chairman of the House Ways and Means Committee, during a news conference on a proposed restructuring the U.S. tax code in Washington, D.C., on Feb. 26, 2014.

Bloomberg by the Numbers: 25%

Corporations would see their top tax rate reduced to 25 percent from 35 percent under a tax-code overhaul by the top Republican tax-writer. “The 979-page plan from Representative Dave Camp would mark the most significant changes to the U.S. tax...

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The Bank of America Corp. branch in Charlotte, North Carolina.

Photograph by Davis Turner/Bloomberg

The Bank of America Corp. branch in Charlotte, North Carolina.

Bloomberg by the Numbers: $86.4 Billion

That’s how much could be raised over 10 years by a tax on banks and insurance companies that House Ways and Means Chairman Dave Camp plans to propose today as part of a federal tax code overhaul. The biggest U.S....

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President Barack Obama walks with Governor Jerry Brown, left, and Joe and Maria Del Bosque, right of Empresas Del Bosque farm, on Feb. 14, 2014 in Los Banos, California.

Photograph by Wally Skalij- Pool/Getty Images

President Barack Obama walks with Governor Jerry Brown, left, and Joe and Maria Del Bosque, right of Empresas Del Bosque farm, on Feb. 14, 2014 in Los Banos, California.

Obama Finds Republican Critics Haven’t Softened on Stimulus

President Barack Obama marked the five-year anniversary of the roughly $800 billion stimulus as he wound down a three-day California golf weekend and rekindled a long-running debate. The administration released a report that says the American Recovery and Reinvestment Act Obama...

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House Ways and Means Committee Chairman Dave Camp (R-MI) at a news conference on the 50th anniversary of the start of the War on Poverty on Jan. 8, 2014 in Washington, DC.

Photograph by Chip Somodevilla/Getty Images

House Ways and Means Committee Chairman Dave Camp (R-MI) at a news conference on the 50th anniversary of the start of the War on Poverty on Jan. 8, 2014 in Washington, DC.

Camp Challenges IRS Rules Changes for Nonprofits

Dave Camp is still displeased with the Internal Revenue Service. The Michigan Republican and chairman of the House Ways and Means Committee requested a pile of documents from the U.S. tax agency today as he tries to stop rules that...

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Senator Max Baucus, a Democrat from Montana, gives thumbs up to reporters n Washington, D.C., in this Nov. 21, 2011 file photo.

Photograph by Joshua Roberts/Bloomberg

Senator Max Baucus, a Democrat from Montana, gives thumbs up to reporters n Washington, D.C., in this Nov. 21, 2011 file photo.

Bloomberg by the Numbers: 35

Sen. Max Baucus, President Barack Obama’s choice to become ambassador to China, has served in the Senate for more than 35 years. Baucus, a Montana Democrat who entered the Senate in December 1978, has served there longer than all but...

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Randy Goodwin skins deer that have been donated to the Help Us Stop Hunger program in State Center, Iowa.

Photograph by Scott Olson/Getty Images

Randy Goodwin skins deer that have been donated to the Help Us Stop Hunger program in State Center, Iowa.

Dead-Deer Deduction: Hunting for Incentives

Guns are already pricey, bullets keep getting more expensive and if you have to ask how much it would cost to mount the rack, you can’t afford it anyway. But if a bill before Congress becomes law, hunters who want...

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A delegate wears a quilt jacket at the Republican National Convention (RNC) in Tampa, Florida.

Photograph by Andrew Harrer/Bloomberg

A delegate wears a quilt jacket at the Republican National Convention (RNC) in Tampa, Florida.

Red States Cut Taxes, Blue Raised Them: Norquist Will Report

By the numbers, Grover Norquist maintains, things don’t look good for taxes. Admittedly, the father of the “Taxpayer Protection Pledge” has every reason to insist that he is winning the war against new taxes — not only in Washington, but...

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