This report on the Budget 2012 highlights a number of areas of concern as well as outlining recommendations for Government action and future Treasury Committee activity. On macroeconomic policy the report covers macroprudential rules, the output gap, quantitative easing, and wider economic risks. Taxation matters examined include personal tax statements, retrospective taxation, and the 45p tax rate. Other sections are concerned with the child benefit system, leaks, and the timing of the Budget.
The 2012 budget, divided into two chapters and four annexes, sets out the Government's action to reform the tax system and also announces the next stages in their plans for the supply side of the economy alongside the strategy of further action in the three key areas for: (i) a stable economy; (ii) a fairer, more efficient and simpler tax system; (iii) further reforms to growth. Chapter 1, sets out the measures to realise these goals. Chapter 2, provides budget policy decisions. Announcements include: the state pension age will increase in the future to take account of increases in longevity; the economy will experience subdued but positive growth, with recovery likely to be particularly uneven this year; the Government will increase the personal allowance by a further £1,100 in April 2013, making the first £10,000 for those on low and middle income tax free; Child Benefit will be withdrawn through an income tax charge, and that the charge will only apply to households where someone has an income over £50,000 a year; the State Pension will be reformed into a single tier pension for future pensioners; that the top rate tax of income tax will be reduced from 50% to 45% from April 2012 and corporation tax by 1% from April 2012; there will be an introduction of a new Stamp Duty Land Tax rate of 7% for residential properties over £2 million and 15% to be applied to non-natural persons, such as companies taking effect from 21 March 2012, with consultation on the introduction of an annual charge; the capital gains tax regime will extend to the disposal of UK residential property by non-residents; around 20 million taxpayers from 2014-15 will be provided with a new Personal Tax Statement, detailing income tax and national insurance payments. The Government is to invest £60 million to establish a UK centre for aerodynamics and further support Network Rail to invest £130 million in the Northern Hub rail scheme. There will be consultation on simplifying Carbon Reduction Commitment energy efficiency scheme to support business. The measures outlined cover the areas of personal tax; corporate taxes; tax measures affecting property, pensions, charities; indirect taxes; tax reliefs; anti-avoidance; tax administration and supply side reform.
From history of the budget process to detail about the ongoing conflict in Washington, from charts explaining where every federal dollar goes to simple explanations of budget terminology, this book covers it all. A People’s Guide to the Federal Budget is for every American who wants to understand and participate in a process that affects all of us. It serves as a foundation for the novice reader, a reference tool for a more advanced audience, and is perfect for high school and college classroom use. Released to coincide with the fiscal year 2013 budget process and the 2012 presidential election, this guide includes up-to-the-minute numbers and explanation of President Obama’s 2013 budget request.
The financing of the federal government depends largely on the Internal Revenue Service's (IRS) efforts to collect taxes. To fund IRS's 2012 operations, the President requested $13.3 billion spread over five appropriations, including $6 billion for enforcement, $4.6 billion for operations support, and $2.3 billion for taxpayer services. This report reviewed the FY 2012 budget justification for IRS. The objectives were to: (1) describe IRS's budget and staffing trends for FYs 2008 through 2012; (2) assess IRS's process for identifying potential savings and how it used savings that were greater than projected; (3) describe new enforcement, taxpayer service and other initiatives in the FY 2012 budget justification, including any estimates of return on investment (ROI); (4) assess any legislative proposals in the budget justification and how IRS reports their costs; (5) assess how the budget justification reports on the costs and performance of major IT systems; (6) describe how 2012 PPACA costs are presented in the budget justification; and (7) document IRS's implementation of GAO's budget recommendations from prior years' reports as well as highlight open matters for Congress and recommendations to IRS with potential savings or revenues. Tables. This is a print on demand report.
The national deficit is certainly a crisis. But alongside it a moral deficit is exploding as well. Some want to unjustly thrust the burden of the debt on our grandchildren. Others want to balance the budget on the backs of the poor. But both plans are morally bankrupt. There is a way--a realistic way, a moral way--to fix the deficit. We can break political gridlock with solutions that stand on a foundation of solid values and fair play. If you are tired of politics as usual that fails to operate as if people mattered, take heart in Ron Sider's balanced, practical approach. Consistent with deeply Christian principles, he offers a way forward that truly provides justice for all.
From one of Nielsen’s top 50 power moms comes advice you can take to the bank—literally! Crystal Paine, who has helped busy women everywhere take control of their finances, presents her most effective strategies designed for families of all sizes and income levels. With hundreds of inspiring “why didn’t I think of that?” tips, plus worksheets, Paine breaks down your goals into easy, manageable steps so you can: • Achieve a complete financial makeover • Set up a realistic budget • Never pay retail • Slash your grocery bill • Organize your time and your home • Use coupons wisely • Pay with cash only • Live simply • Become debt free • Choose contentment • Make every dollar count
Presents a narrative analysis of the federal budget that reveals how funds were actually spent in 2011, evaluating the roles of such contributors as Jacob Lew, Douglas Elmendorf, and Pete Peterson.
