Tag: Timothy Geithner

Obama’s Tax Reform Plan Brings Out The Skeptics

Timothy Geithner, Treasury Secretary, outlined The Obama tax reform proposal to overhaul taxes on business as well as eliminating a few dozen loopholes for the 2012 Taxes. The plan is to bring the corporate tax rate down to the 28 percentile. As Obama revealed his plan, some of his critics do not believe that the cuts are not significant enough to be effective.

The proposal includes a minimum tax on foreign money earnings, though there were no details offered on how the plan would play out.

Geithner said in an interview that they wanted to restore the concept and policies in which American businesses gain success or fail based on the quality and worth of their product rather than the creativity of their tax law engineers.

Geithner went on to say that overhauling taxes will not be implemented for this year

Curtis Dubay, the tax policy senior analyst for Heritage Foundation, expressed limited optimism that this policy could be put in effect this year due to the fact it is an election year. He feared that the law might make things worse rather than better if it passed.

For William Gale, staff member of the nonpartisan Tax Policy Center, the proposal shared today demonstrates the difficulty in implementing major tax legislation on corporations due to the very difficult process of determining the current business income of the United States.

According to Gale, sometimes income gets taxed multiple times at the individual level of taxation and only once at the corporate tax level. There are even times when taxes are missed entirely.

One of the major goals of the proposal is to eliminate the inefficiency of taxing businesses and to make certain that the process is fair.

Geithner has been in contact with D-Mont. Sen. Max Baucus and Sen. Orrin Hatch, the Republican Utah representative. He hopes to meet with these two individuals in order to discuss the tax plan and establish a consensus.

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The Cheapest Place to Live in the U.S.

The United States of America is large in size and rich in diversity, so finding the cheapest place to live in the US may be easier said than done.

Perhaps you are a person who has always dreamed of living in the beautiful country side far away from loud and teeming cities: think Montana.

Maybe your dream is to buy a large, beautiful house on the cheap: think Detroit. A recent count of houses for sale found quality properties as low as $37,000.

How do you find that locality in which you wish to reside? The Internet is your best friend when determining what is important to you. There is most likely an answer online to speak to nearly every question.

Quality of life issues, such as unemployment, violent crime, median income and even more fundamentally important data are reported online. The price of a pint glass of beer: Texarkana, Arkansas, for example, charges $1.50. Allentown, Pennsylvania beats it at $1.25.

How do you make a living in your rural dream locality? Health professionals, for example, have an easy time relocating; other folks may have to use some imaginative and daring planning to find their niche.

Here again, the Internet is invaluable. Online work such as editing or blogging requires excellent grammar and imagination. Retail over the Internet can be highly successful should you recognize trends and present the right product.

If you have a green thumb, you could join a growing trend and raise organic herbs, micro sprouts, mushrooms and specialty greens for restaurants and the public.

The best places to live are a highly subjective matter depending on each person. It can be a scary proposition, leaving a familiar place you’ve grown weary of, and stepping into the vast unknown. It takes imagination and nerve, but should you succeed, you will have accomplished something wonderful and courageous indeed.

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