American Tax Payer Act
The present taxation system for the United States is a progressive tax on income of individuals, businesses, trusts and estates. While the first Federal income tax was opposed during the Civil War and then again in the 1980s to pay off war debt and reconstruction, it was not until the 16 the Amendement in 1913 that placed a Federal tax as Constituional law. The basic outline of the Federal tax is quite simple -- gross income less exclusions and exemptions and standard deductions equals taxable amount. The taxable amount is based on family size, and varies based on filing status. The complexity arises, however, in the manner in which deductions are interpreted, tax law changes to allow certain items to be deducted, and then changes that law (e.g. credit card interest), or ways in which complex tax structures are legally able to "hide" or "defer" income from being taxed in that particular year (McCaffrey, 2006).
Certainly, most agree that governments must have a way to earn revenue...
However, after decades of debate and one of the most complex tax codes in the world, the U.S. System does not necessarily work for everyone. For instance, in January 2013, the Senate and House both retroactively passed the American Taxpayer Relief Act of 2012 (ATRA), that permanently extends a number of major tax provisions and temporarily extends many others. The gist of the program offers a number of provisions designed to help middle and lower-middle class Americans keep more dollars:
Tax rates -- Most individuals will pay the same basic rate, based on income, but in 2013 those with income exceeding $400,000 for individuals and $450,000 for joint filers will have an increase in rate to 39.6%
Alternative Minimum Tax -- Permanently extends provisions that all nonrefundable personal income tax credits to be used to offset AMT liability.
Estate Tax -- Makes permanent the $5 million exemption amount for estate, gift, and generation-=skipping transfer tax. The top…
Property tax relief is a subject that arises when the elderly or poor struggle to meet their property tax burdens. If they are long-term residents, they can be caught up when their neighborhood sees a dramatic increase in property values. There are sometimes mechanisms that governments use in order to provide relief. Both tax credits and rebates can be used to help return some of the money paid or that is
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This sentiment is echoed by a lot of supporters of merit pay who believe the way teachers are paid and how much they are paid must differ if districts are to attract a new cohort of teachers" (Drevitch, 2006). Some of the biggest disputes against merit pay have all been disputed previously, in the 1980's. In the 1980's, global rivalry was undermining U.S. businesses and corporations, and in an attempt
Revenue Estimates: Underestimation of Revenues Although the United States has an excellent budget policy, she is yet to reach maximum efficiency with regard to revenue estimation. When it comes to public budgeting, ours is a picture that is far from the ideal. There has been a consistent pattern of underestimation of revenues in federal, state, local, as well as agency budgets. This trend may not be desirable for a recovering
public administration and considers the effect of their writings and theories on the field of public administration. It has 6 sources. An analysis of the core areas of public administration and how these areas interrelate with one another; taking into account the theories and writings of major players in the field of public administration and how their views shaped these areas. The principles of public administration are the clearest description of
budget process for Las Vegas Metropolitan Police Department (LVMPD). LVMPD was formed in 1973 as a result of the merger of the Las Vegas Police Department with the Clark County Sheriff's Department. LVMPD serves the city limits of Las Vegas along with unincorporated areas of Clark County. LVMPD is funded by the City of Las Vegas and Clark County. Police department funding is based on a complex formula determined by