Word: taxing
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Dates: during 2000-2009
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There's at least one profession for which the recession might not bite: dentistry. According to Sageworks, a firm that tracks private-company financial performance, dentists' offices had higher profit margins than any other industry in 2008. With average profit margins at 17%, dentistry outpaced accounting, tax preparation, bookkeeping and payroll services, legal services and mining support services among the top five performing professions in '08. Dental margins rose about 1.5% from 2007, according to Sageworks. (Read "25 People to Blame for the Financial Crisis...
...time, insured patients want to hit the chair while they're still lucky enough to have the insurance. "We're seeing that a lot of folks are fearful of losing their jobs," says Rick Willeford, founder and president of the Academy of Dental CPAs, whose members provide accounting and tax-prep work for some 7,000 dentists across the country. "So they want to use their benefits. That has helped keep revenues strong." Spindel, who had his best year ever in 2008, says last spring he saw a "miniboomlet" in these types of cases. "People know that if they...
...current budget proposal would raise up to $14.4 billion by imposing a variety of temporary taxes - hiking the sales tax by a penny, adding 12 cents to the gasoline tax and raising the car-license fee (something Schwarzenegger had campaigned against in 2003). Cuts include $8.6 billion from K-12 classrooms, which probably would force schools to pink-slip teachers and increase classroom sizes; a 10% cut to the university system; a continuation of the two-days-a-month furlough of state workers that recently closed state offices, including the Department of Motor Vehicles; and several billion in cuts...
...budget process dependent on political suicide is not a good system. The other alternative is for the Republican Party to stand firm on its no-tax pledge and solve the crisis by only cuts and shutdowns. George Skelton of the Los Angeles Times recently pointed out that the no-tax solution offers two dire options: fire all the state workers and shut down the University of California and the state colleges, or eliminate all state money for health care and social services - all the monies that help the blind and disabled, aged, homebound, poor, mentally ill, those on welfare, those...
...Still, Berlusconi, has some weapons that Murdoch does not. Last fall, the prime minister pushed through a government decree that doubled to 20% the Value Added Tax (VAT) on pay television subscriptions. Sky Italia responded with a series of advertisements aimed at their subscribers (who also happen to be Italian voters) outlining how the Berlusconi government's decision was unfair to consumers. Mediaset and RAI also recently joined forces to launch a digital terrestrial service called Tivù, modeled on a British free-to-air platform that has cut into the market share of BSkyB, Murdoch's U.K. satellite television...