Word: taxed
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...college savings plan is designed to be a tax-deferred investment tool for higher education. The beauty and simplicity of the plan is that the government has a very limited ability to obstruct or intervene when it comes to who can donate to or benefit from the plan. Money for school and basic expenses are met using a simplified investment vehicle not perishable to the vagaries of market forces and unscrupulous human behavior...
...answer: a combination of tax increases and fiscal smoke and mirrors. The legislation raises taxes by $569.2 billion and cuts funds from Medicare and Social Security. Democrats are also able to claim that the bill cuts the deficit because, while the insurance subsidies don’t start until 2014, many of the taxes kick in within months. In other words, the changes the bill makes to the health-care system itself will cost $938 billion, as estimated by the CBO, and to fund it, Democrats use taxes and accounting gimmicks. Not only could the new revenue sources have instead...
...Smoking Gun, a Web site that posts legal documents online, reported that Jean and his business associates received $410,000 in payments from Yéle Haiti from 2005 to 2007. According to Yéle Haiti's tax returns, the charity paid out $31,200 in rent to Platinum Sound, a recording studio co-owned by Jean; $100,000 for the "musical performance services of Wyclef Jean at a benefit concert;" and $250,000 to Telemax, S.A., "a for-profit Haiti company in which Jean and Duplessis were said to 'own a controlling interest...
...controversy has extended beyond the blogosphere—The Washington Post reported on financial irregularities within Yéle Haiti's organization, quoting a former tax counsel to the Senate Finance Committee, who said, "it seems clear that a significant amount of the money that this charity raises go for costs other than providing benefits to Haitians in need...
...second bill passed by the House late Sunday will make adjustments to the legislation, such as lowering the impact of an excise tax on high-value insurance plans and stripping out some sweetheart deals like the now infamous cornhusker kickback, using a process known as budget reconciliation. Such changes would be filibuster-proof in the Senate, though that process could still drag on a while if Republicans choose to draw it out with objections and amendments. Even so, it will be an anticlimax to Sunday's historic House vote, which will send the underlying Senate bill to President Obama...