Tax Breaks | featured news

Why are "capital gains" taxes so much lower than taxes on other income? The reason capital gains taxes are lower is because most of the income of the rich is from capital gains. And the reason most of the income of the rich is from capital gains is because capital gains taxes are lower.

Countries such as the United States are avoided by large technology companies because of their high income-tax rates. The U.S. corporate income-tax rate is 35%, while the U.K.'s is set at 28%.

Proposals to end the tax breaks for corporate jet ownership is less about dollars and cents than it is about political imagery and a bit of class warfare.

President Barack Obama pressed his case on Saturday for achieving deficit reduction, in part by ending tax breaks and singling out hedge fund managers, oil companies and billionaires to take the hit.

The Senate blocked a bill Tuesday that would repeal about $2 billion a year in tax breaks for the five biggest oil companies, a Democratic response to $4-a-gallon gasoline that might fare better when Congress and the White House negotiate a deal later this year to increase the government's ability to borrow.

With high gas prices and federal deficits in the political spotlight, senior Democrats believe that Senate Republicans will support an idea they otherwise might not like.

End tax breaks that reward some U.S. companies with overseas subsidiaries and encourage those businesses to create jobs in other countries, President Barack Obama is telling Congress.

GOP plan to extend array of tax breaks would raise deficits unless dramatic spending cuts are made.

If you managed to claim every possible tax break that you deserved when you filed your 2009 return this spring, pat yourself on the back. But don’t stop there. Those tax-filing maneuvers are certainly valuable, but you may be able to rack up even bigger savings through thoughtful tax planning all year round. The following ideas could really pay off in the months ahead.

President Barack Obama said Saturday that millions of Americans already are reaping benefits from the new health care law, including tax breaks for some small businesses and help for families with young adults.