Sentences with phrase «government taxes people»

To assess if this overreporting on income taxes occurs because people consider payroll taxes as income taxes, we asked, «The federal government taxes people specifically to pay for Social Security and Medicare.

Not exact matches

The summer started with a reasonable (if clumsy) attempt by the government to stop incorporated individuals from taking advantage of the lower small - business tax rate, and ended with people such as Arlene Dickinson, the investor and Dragon's Den star, talking about an assault on entrepreneurship.

Assuming government benefits of $ 15,000 per person per year, that will give you $ 40,000 to $ 70,000 a year per couple before tax, or $ 28,000 to $ 49,000 per single, also in today's dollars.

Unfortunately, few finance ministers are brave enough to talk plainly about what people actually pay in taxes and receive in government transfers or what they think is a «fair» distribution of the tax / transfer burden we all share.

The authors used tax and transfer data from 2008 to examine what people paid in taxes and received in transfers from the government.

People queuing up for Mega Millions tickets aren't the only ones salivating over the record $ 540 million jackpot that could be won Friday — some state governments struggling through lean times know a hometown winner would bring a tax bonanza.

The opposition Labour Party, which requested the figures under freedom of information, said they showed the government's «utter failure» in ensuring wealthy people and large corporations pay as much tax as they should.

Less income for people and businesses means less tax revenue for the government.

In 1969, government officials noticed that 155 people with high incomes were legally using so many deductions and other tax breaks and that they were paying absolutely nothing in federal income taxes.

The concern some people have is that children will end up living for years in a local community, where they'll be entitled to education and other government services paid for with tax dollars.

But it also left the door open for people in certain areas to prepay their property taxes before it went into effect to get around the cap — according to the IRS, in areas where the property tax liability is assessed by the local government prior to the law going into effect.

Indonesia's government passed a tax amnesty bill that will charge people just 2 % to 5 % on money held outside the country, with the aim of bringing about US$ 45 billion back within its borders to boost the economy.

That's why the controversial proposals to dramatically change the taxation of private business in Canada are proving three things: tax literacy is alive and well in Canada, most people understand and value the incredible entrepreneurial spirit that drives the economic engine in this country, and the government thought these tax changes wouldn't be a big deal.

State governments eager for cannabis revenue need to remember the people who have sold pot tax - free for years are still in business.

«If we substitute a tax on marijuana cigarettes equal to the difference between the local production cost and the street price people currently pay — that is, transfer the revenue from the current producers and marketers (many of whom work with organized crime) to the government, leaving all other marketing and transportation issues aside we would have revenue of (say) $ 7 per [unit].

When your entire paychecks derive from other peoples» work, and the government is always standing in the shadows, ready to bail out your profits with the tax dollars of actual workers, you're not a «risk taker» — you're a parasite!

And then there are just people who are worried that the government might use their census data to cross-reference it against other information they've given the government (income being the obvious example - anyone know someone who plays fast and lose with their taxes?).

Posted by Nick Falvo under aboriginal peoples, Alberta, cities, corporate income tax, demographics, fiscal policy, homeless, housing, income tax, Indigenous people, municipalities, Ontario, poverty, public infrastructure, Role of government, social policy, taxation.

Also, the government imposes a hefty ~ 40 % Federal death tax on wealth over $ 5.4 M per person.

Program expenses were lowered by $ 5.4 billion in that Update, with all three major components contributing to the decline: major transfers to persons down $ 1.8 billion, primarily due to lower employment insurance benefits; major transfers to other levels of government, down $ 1.4 billion, primarily reflecting the recovery of the sales tax harmonization transitional payment from British Columbia; and direct program expenses, down $ 2.2 billion, due to lower other transfers.

Remember, if the government gives us a tax cut they'll still have to make up the budget shortfall somehow, chiefly by selling more bonds to American citizens (who happen to be the same people getting the tax cut) or foreigners (who will raise the money by selling us more of their goods and services, or buying less of ours).

The real reason may be that they provide flexibility: people who want to consume more can use their tax cut for that purpose; people who want to save more can use theirs to buy up the new government bonds.

Second of all, the reason that the government set an income cut - off to Roth IRA eligibility and also set a low annual contribution limit is because the Roth IRA is intended to help regular people build wealth, rather than allow high - income people to stash away tons of money and avoid taxes.

Paying more taxes does not entitle a person to more government services.

The irony is, the government is actually saving people who make more than $ 116,000 - $ 131,000 a year from paying more taxes and getting tricked into entering the Borg.

Remuneration of a covered employee paid by an applicable tax - exempt organization includes amounts paid by a related person or government entity if the person or entity controls, or is controlled by, the applicable tax - exempt organization; is controlled by a person, or persons, that control the organization; or is a supported or supporting organization.

The government takes the position that these tax advantages are in place to help Canadian businesses reinvest and grow, find new customers, buy new equipment and hire more people.

Posted by Nick Falvo under aboriginal peoples, Balanced budgets, child benefits, Child Care, corporate income tax, CPP, debt, deficits, early learning, economic thought, federal budget, fiscal federalism, fiscal policy, homeless, housing, income distribution, income support, income tax, Indigenous people, inequality, labour market, macroeconomics, OECD, Old Age Security, poverty, privatization, public infrastructure, public services, Role of government, social policy, taxation, women.

Some may poo poo paying interest, but I say paying interest with other people's money to build wealth is much better than paying taxes to the government.

The government perceives that these people are avoiding paying their fair share of taxes as opposed to investing in their business and maintaining their competitive advantage.

Posted by Nick Falvo under child benefits, Conservative government, corporate income tax, early learning, economic crisis, education, fiscal federalism, fiscal policy, housing, income support, income tax, Indigenous people, inequality, minimum wage, Ontario, poverty, progressive economic strategies, recession, social indicators, social policy, taxation, unemployment.

Being taxed by the government is a certainty, but it shouldn't incentivize people to minimize their income potential.

But filing taxes would be simpler, and Bankman felt he'd done his part to make people «a little less pissed at the government.»

Because the government wants to encourage people to save, it allows you to deduct your contributions from your income when tax day rolls around.

President Donald Trump on Monday will offer a budget plan that falls far short of eliminating the government's deficit over 10 years, conceding that huge tax cuts and new spending increases make this goal unattainable, three people familiar with the...

The government has lots of regulations set up to keep people from using their spousal RRSPs to cheat on their taxes — and that can make it a little complicated to navigate the accounts.

As for the alleged inability of governments to manage the tax deferral, if such a system were implemented, provided that people traded securities or died at a more or less steady rate over time, there's no reason to think that there would be government cash flow issues.

Most people in BC don't realize that the BC Government introduced the PTT (property transfer tax) in 1987 as a wealth tax.

Simply, it's about asking questions that help us understand if budget priorities, tax structures, and government programs maintain or worsen inequality, or if they help «level the playing field» for people occupying different social locations.

Under the compromise, people will still be able to deduct up to $ 10,000 on the property taxes they pay locally, but they will no longer be able to deduct the other taxes they pay to state or local governments from their federal tax payments.

So the IRS allows people 50 and older to contribute an extra $ 5,500 to a tax - advantaged 401 (k), 403 (b), and most 457s government thrift savings plans.

In response to the fact that people are paying more in federal taxes, those governments could choose to decrease their local tax rates.

The federal government has said that the tax changes it has proposed are aimed at people who fall into the smallest - of - the - small category: many of them professionals such as doctors or lawyers — who incorporated their practices and are eligible for tax benefits available to small businesses.

Nonetheless, the government has stopped short of imposing a property tax, which would discourage people from buying homes as an investment and leaving them empty by making it more expensive to own a home.

Or it wouldn't, had not the government added two further conditions to its «no tax hikes» pledge: that it would make no cuts in transfers to provinces, or to persons (notably old age pensions and employment insurance).

There are two main reasons people wait until the last minute to file taxes: either they owe the government money or...

Voluntary payment by taxpayers into designated banks - advance tax and self - assessment tax: Self - employed people are required to do their tax calculation themselves and pay the necessary tax to the government periodically.

First, it was that the company paid little to no state and local government taxes and then it was that the e-commerce company was a «scam» which costs the US Post Office and therefore the American people, billions of dollars a year.

And so for example, if you look at U.S. government debt, which is the one almost everyone always talks about, most people aren't sitting there worrying about how much debt does Amazon have, when you look at government debt, interest payments on government debt as a percent of GDP or as a percent of tax revenue, currently because interest rates are relatively low, are very low, are running half, literally half of what they were in the second half of the»80s and the first half of the»90s.

Seriously sad times in many ways when we can not rely on our government to do what's best for the country and its tax paying people