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Taxpayers in sentence

648 examples of Taxpayers in a sentence

Such extraordinary fiscal largesse, all at taxpayers’ expense, cannot continue indefinitely.
A Second Chance for European ReformMUNICH – The European Central Bank has managed to calm the markets with its promise of unlimited purchases of eurozone government bonds, because it effectively assured bondholders that the taxpayers and pensioners of the eurozone’s still-sound economies would, if necessary, shoulder the repayment burden.
But successful implementation of this plan requires a rock-solid governance structure that markets and taxpayers in the most stability-oriented eurozone countries can trust.
Nationalization also resolves the too-big-too-fail problem of banks that are systemically important, and that thus need to be rescued by the government at a high cost to taxpayers.
They have looted public-sector resources through large-scale privatization schemes, and by securing public subsidies that rarely require them to deliver benefits to taxpayers.
These schemes imply socialization of debt – taxpayers elsewhere in Europe would share a country’s debt burden.
These and other countries are taking money mainly from working taxpayers and giving it to retirees.
But that does not ameliorate the seemingly intractable underlying challenge: a shrinking pool of taxpayers to support a growing number of retirees.
The majority of citizens agree with President Barack Obama that tax increases for deficit reduction should fall on the top 2-3% of taxpayers, who have enjoyed the largest gains in income and wealth over the last 30 years.
That is why he is proposing that the 2001 and 2003 rate cuts for these taxpayers be allowed to expire at the end of the year, while the rate cuts for other taxpayers are extended.
So far, Obama’s Republican opponents are adamant that the cuts be extended for all taxpayers, arguing that increases in top rates would discourage job creation.
Recent research finds no link between tax cuts for top taxpayers and job creation.
At the same time, as the largest tax cuts have gone to high-income taxpayers, the US tax system has become considerably less progressive.
But how should additional revenues be raised from top taxpayers to achieve these two goals?
So Obama has evidence on his side when he says that allowing the tax cuts for high-income taxpayers to expire at the end of the year will not affect economic growth.
Republicans have proposed tax reforms in lieu of rate hikes on high-income taxpayers to raise revenues for deficit reduction.
Obama has signaled that he is willing to consider this approach, provided it increases tax revenues from the top 2-3% by at least the same amount as higher rates while protecting other taxpayers.
Reducing large regressive tax expenditures like preferential tax rates for capital gains and dividends and deductions for state and local taxes, and replacing deductions with progressive tax credits, could generate enough revenue to finance rate cuts for all taxpayers, increase the tax code’s overall progressivity, and contribute meaningfully to deficit reduction.
Nonetheless, some tax reforms are likely to be a key component of a bipartisan deficit-reduction deal, because they provide Republicans who oppose increases in tax rates for high-income taxpayers with an ideologically preferable way to increase revenue from them.
Unfortunately, it will take time to negotiate tax reforms – more time than remains until the end of the year, when the 2001 and 2003 tax cuts are scheduled to expire for all taxpayers.
But there is still time to negotiate an agreement that extends these cuts for the bottom 98%, and that contains temporary measures to cap deductions and credits for high-income taxpayers in 2013.
Such an agreement could help to break the political impasse over whether and how much these taxpayers’ rates should rise next year, thereby preventing the US from falling over the fiscal cliff and back into recession.
The federal government no longer has billions of dollars to dole out to foreign governments, while China is far more centralized and less beholden to its taxpayers.
That would mean higher taxes for all taxpayers, raising tax liabilities in 2011 and 2012 by about $450 billion (1.5% of GDP).
Obama wanted to continue the 2010 tax rates permanently for all taxpayers except those with annual incomes over $250,000.
The Republicans proposed continuing the 2010 tax rates permanently for all taxpayers.
But the agreement only maintains the existing tax rates, so taxpayers do not see it as a tax cut.
It would be a fiscal stimulus only if taxpayers had previously expected that Congress and the administration would allow the tax rates to rise – an unlikely prospect, given the highly adverse effects that doing so would have had on the currently weak economy.
Even for those taxpayers who had feared a tax increase in 2011 and 2012, it is not clear how much the lower tax payments will actually boost consumer spending.
A chasm this big cannot be bridged by cash-strapped governments and taxpayers alone.
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