Sunday, May 15, 2011
TaxProf Blog: Sullivan: The Rich Get 100 Times More Mortgage Subsidy Than the Poor: "Providing about $100 billion of tax benefits annually, the mortgage interest deduction is the nation's largest housing program. So where are these subsidies distributed? Those readers with some scintilla of idealism might hope it goes to those most in need. So naïve! The tax benefit provided by the mortgage interest deduction flows overwhelmingly to rich families like those portrayed in the hit television series Beverly Hills, 90210. We've done the math and, as shown in the figure, the average annual per-person tax benefit provided by the mortgage interest deduction for the residents of 90210 is $1,873. For the residents of Clarksdale 38614, it is $45."
Posted by fpteditors at 4:22 AM
Saturday, May 14, 2011
Sen. Brown Announces 'Close Big Oil Tax Loopholes Act' - ProgressOhio: "Legislation Would End $4 Billion in Tax Giveaways to Big Oil, Use Savings to Reduce Federal Deficit
Ohio Senator Sherrod Brown outlined a bill Monday aimed at ending the more than $4 billion in tax deductions, subsidies, and royalty relief to big oil companies each year."
Posted by fpteditors at 1:50 AM
Rail, bus projects face lower chance of state funds | The Columbus Dispatch: "ODOT also has rescinded a Strickland pledge to share $50 million annually with public-transit agencies."
Posted by fpteditors at 1:47 AM
Thursday, May 5, 2011
Innovation Ohio’s “Taxpayer Rip-Off of the Week” Award: Big Oil Giveaway | FU Corporate Media .com: "Innovation Ohio, a progressive think tank headquartered in Columbus, today presented its coveted “Tax Payer Rip-Off of the Week Award” to Gov. John Kasich for giving oil companies a tax break worth between $5 million and $10 million per year – a giveaway that was opposed by the Ohio business community and even Kasich’s own Tax Commissioner."
Posted by fpteditors at 7:07 PM