illegal immigrant criminals, but states are carrying most of the burden with the money of American taxpayers. “ American taxpayers paid approximately $1.87 billion to house imprisoned illegal immigrants in fiscal year 2014, and almost all of that financial burden was shouldered by the states, according to a new study of state and federal data (Geherke para 1). This is a waste of American taxpayers money to have to pay for non United States citizens that do not even pay taxes. These tax dollars…
college degree. For instance, if the U.S. Government were the sole source of paying for the first, two years of college, it will create a huge tax burden on all American taxpayers. Where would the money come from? The money would come from every taxpaying citizen. Not only would free college create a huge tax burden on American taxpayers, it would also create problems for the students wishing to further their education. The funds allocated for grants and financial aid would be diminished,…
The DREAM Act was introduced on August 1st, 2001 by Senators Dick Durbin (Democrat from Illinois) and Orrin Hatch (Republican from Utah). The DREAM act or Development, Relief, and Education for Alien Minors act is a bill that would “Amend the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to repeal the denial of an unlawful alien's eligibility for higher education benefits based on State residence unless a U.S. national is similarly eligible without regard to such State…
Do you believe in second chances? Are you an animal lover? Then why not consider adopting one, of the millions, of sad and lonely animals who are locked away in cages each year; Due to abandonment and neglect from previous owners. Help contribute to this growing issue here in America, of homeless animals. By helping to find these animals homes, or taking them into your own home, you’re freeing up more space for the tons of other animals on the streets. There are millions of homeless animals in…
COST OF GOODS SOLD Cost of goods sold is a deduction on a taxpayer’s taxable income. For tax purposes, Piratephernalia Corporation must capitalize a portion of their overhead expenses into the annual inventory calculation. Additionally, cost of goods sold includes only the inventory sold throughout the fiscal year. Unsold purchased inventory will not be deducted from the taxable income. INTEREST INCOME Generally, state bond interest is exempt from taxation. Further, interest income from…
decreased so low was during the great depression of 1929. To help fix the issue, the government passed the bill for the bail out. Due to the failing of the bailout, America was provided information about good and bad investments. . The bailout took taxpayers money to fix the issue of the recession, instead of putting the money towards the essentials; such as school, housing, road work, or even debt. Even though the bailout was successful. Many are facing foreclosure, millions more underwater,…
1. Describe three criteria used to qualify pension plans for preferential tax treatment. The first criterion is a defined benefit plan. With define benefit plans; retirees received guaranteed payments for the duration of their lives. Second, defined contribution plans are guaranteed retirement benefits. These benefits usually are expressed in terms of monthly sum equal to a percentage of a participant’s preretirement pay from the employer. Lastly, hybrid plan that combine features of…
Adams, Inc. is engaged in family business and has total of six owners, who own shares in the corporation in equal proportion; however, amongst these six owners only one of them is not related to the Adams family; this is Fred Murray. According to the information, Fred Murray is one of the shareholders and wants to sell his stock back to the corporation. His shares have a FMV of $200,000 dollars and a tax basis of $50,000; the redemption is planned for December 31st, which is the end of the year.…
less organized because of the low per-capita benefits. FNMA’s costs are concentrated in the government and its benefits are spread over millions of homeowners and mortgage lenders. The key interest groups hostile to this agency are the National Taxpayers Union and the Mortgage Bankers Association; its…
in a psychiatric ward for every 300 Americans; now there is one for every 3,000 Americans. Mentally ill law offenders are spending time in prison without the right treatments, being easy targets for confrontation with correction officers, costing taxpayers thousands of dollars and are roaming the streets every day posing as danger to society. Some people may argue that mentally ill law offenders belong in jail because “why should someone who is already proven dangerous, be able to run free?”…