Wednesday, March 5, 2014
Tax Provisions in President Obama's FY2015 Budget
President Obama yesterday released his Fiscal Year 2015 Budget. The Treasury Department released the 297-page Green Book (General Explanations of the Administration’s Fiscal Year 2014 Revenue Proposals) (revenue tables here).
- Accounting Today, Obama Budget Proposal Includes Tax Provisions
- Americans for Tax Reform, Obama Budget Proposes $100 Billion in Tax Hikes on Energy Producers
- Americans for Tax Reform, What's Old Is New Again: Obama Budget Plan Recycles Bad Tax Policy
- Atlanta Journal-Constitution, Obama's New Budget: Tax Some More, and Spend Almost All of It
- Bloomberg, Obama Budget Offers Tax Breaks From Child Care to College
- Bloomberg, Obama Budget Raises $276 Billion From U.S. Multinationals
- Center on Budget and Policy Priorities, Greenstein on President Obama's New Budget,
- Center on Budget and Policy Priorities, Obama Budget Would Extend EITC’s Pro-Work Success to Childless Workers
- Chicago Tribune, Obama Proposes $100 Billion in New Taxes on Multinationals
- CNN, Obama's Budget: Help for Workers, Taxes for the Rich
- Crain's New York Business, Obama Budget Taxes Wall Street Millionaires
- Forbes, On Taxes, President Obama's Latest Budget Is a Mess, by Ryan Ellis
- Inside Higher Ed, Obama's Budget Calls for Tax Breaks for Students
- Los Angeles Times, Obama's Budget Would Shift Tax Benefits From Wealthy to Poor
- New York Post, Obama’s $4T Budget Plan? Tax the Rich, Spend on Infrastructure
- New York Times, Obama Budget Big on Ideals, but With Small Chance of Passage
- New York Times, Obama Budget Would Expand Low-Income Tax Break
- Procedurally Taxing, President’s Budget Proposes Major Procedural and Administrative Changes, by Leslie Book (Villanova)
- Reuters, Obama 2015 Budget Seeks $60 Billion Tax Credit Expansion
- Reuters, On Tax Reform, Obama and Republican Rival on Same Page
- Time, Obama Budget Proposal: Tie Tax Hike for Rich to Cuts for Poor
- USA Today, Obama Budget Urges Expanding Earned Income Tax Credit
- USA Today, Obama's Budget Eyes $1 Trillion Hike in Tax Revenue
- Wall Street Journal, Obama's Budget Seeks Overhaul of Business-Tax Codes
- Wall Street Journal, Three Reasons Not to Ignore the Obama Budget: Appropriations, EITC, Tax Reform
- Washington Post editorial, Obama Budget Avoids Needed Entitlement and Tax Reform
- Washington Post, Obama to Propose Expanding EITC and Child Tax Credit in Budget
- Washington Post, Obama Budget Seeks New Spending, New Taxes to Boost Economy, Tame Debt
https://taxprof.typepad.com/taxprof_blog/2014/03/tax-provisions.html
Comments
All those headlines, and NOT a mention of the BIGGIE.... A domestic FATCA or DATCA is to be imposed on the US financial institutions (USFIs) as a direct blow back of Treasuries actions in creating FATCA IGA (non treaties) and signing them with various countries around the world.
This meets the promises of their Article 6 (1) to ... 'advocating and supporting'[sic] relevant legislation to achieve such equivalent levels of reciprocal automatic exchange"
So FATCA is begetting a DATCA, and it has already bred a global GATCA, in the form of the OECD Common Reporting Standards (CRS) that America is enthusiastically supporting, even though it has as it foundation residency based Taxation (RBT) versus FATCA which is based upon Citizenship Taxation (CBT) and so is in direct conflict on the most basic level of who can a nation tax!
Posted by: Just Me | Mar 5, 2014 10:13:03 AM
I forgot to add, should my other comment come out of moderation, that the FATCA reciprocity provisions are on page 203 of the Budget Greenbook under the heading of ...PROVIDE FOR RECIPROCAL REPORTING OF INFORMATION IN CONNECTION WITH THE IMPLEMENTATION OF THE FOREIGN ACCOUNT TAX COMPLIANCE ACT
Posted by: Just Me | Mar 5, 2014 10:16:08 AM