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Dissident Artist Says China Is Seeking $2.4 Million in Back Taxes

Ai Weiwei, the dissident artist whose secret detention earlier this year stirred an international outcry, has been given two weeks to pay $2.4 million in back taxes and penalties, he said Tuesday.

Senh: Despite all of the positive developments in China's economy and global status, it's stuff like this that's scary. You just simply can't criticize the Chinese government, or they'll come after you with fake charges.

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Deficit Panel Less Likely to Tackle Tax Code

Members of the congressional deficit-reduction committee are cooling to the idea of completing a comprehensive overhaul of the tax code by their November deadline, making it more likely the details of any major tax changes will be handled later by House and Senate tax committees, according to congressional aides from both parties.

Republican Perry proposes flat tax, corporate tax cut

Republican Rick Perry outlined a broad economic proposal on Monday to let Americans pay a flat 20 percent income tax rate and allow corporations to bring profits home from abroad at a discount.

Senh: Rick Perry's tax plan is the 20/20 plan, I guess. We'll wait for the number crunchers to see who this plan benefits - the haves or the have-nots. With the lower tax rate, will the federal government lose money with this plan? UPDATE: Looks like the reviews are in, and it's not pretty. It's panned by both parties.

Rick Perry's flat tax plan is a political gamble

Texas Gov. Rick Perry's call for a flat income tax rate will tie his Republican presidential campaign to a contentious issue that excites many conservatives but has repeatedly failed to win the embrace of mainstream America....

Senh: As long as there's no loopholes for the rich and there's an exemption for the poor, I don't mind it. The rich do get a huge tax cut from this though, but they're probably getting it anyway from the current tax code with all of its exemptions and loopholes.

Herman Cain tweaks 9-9-9 tax plan

GOP presidential hopeful Herman Cain tweaked his 9-9-9 tax plan, eliminating the tax burden on people living in poverty and creating "opportunity zones" to boost economically depressed areas. Cain's changes to the plan come amid growing criticism that the proposal -- calling for a 9% income tax, 9% national sales tax and 9% corporate tax rate -- would raise taxes on low- and middle-income people while helping the wealthy.

Senh: This plan is starting to get complicated. I like the exemption for people who live below the poverty line. Having a lower corporate tax rate might allow companies keep more of their profits and hire more people. Having a lower income tax means that people will get to keep more of their income, too, especially the rich who are taxed a lot higher. It seems like they have the most to gain - lower income tax for themselves and lower corporate tax for their companies. But having an additional federal sales tax means that people will have to pay more for stuff they buy.

The Contrasting Psychologies of 'Occupy Wall Street' and the 'Tea Party'

What to make of Occupy Wall Street: ignore it as silly excess or embrace the movement? celebrate the energy or ridicule the process? fear the consequences or welcome the possibilities? No easy answers, except for the wrong ones. What can be said is that how you respond at this still early stage depends on how ...

Senh: I wonder how "Occupy Wall Street" got started. Was the seed planted by a Democrat? It seems like it. They all for taxing the rich or taxing them more fairly - just in time for Barack Obama's American Jobs Bill. I kinda hope this movement is here to stay, just as an equalizer to the Republican's Tea Party.

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How to minimize estate taxes, even if you’re not rich

It’s easy to gripe about the rich manipulating the rules to lower their tax rates, but sometimes it’s better to simply borrow a few pages from their playbook. Although finagling a low tax rate on income — as Warren Buffett talks freely about — is difficult for regular salaried workers, there’s another area where modest taxpayers have something to learn from the wealthy: minimizing estate taxes.

Feds Send California's Legal Pot Dispensaries Up In Smoke

Medical marijuana's days may be numbered. With a true double whammy, the IRS and federal prosecutors are both using weed killer. California's federal prosecutors announced an aggressive statewide effort to shut down dozens of pot dispensaries. If that's not enough, then there's the IRS.

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Raise taxes on super rich, not semi-rich: poll

Less than a quarter of wealthy Americans support raising taxes on households making $250,000 or more a year, the level being targeted by President Barack Obama, though tax increases further up the income scale have broader support, said a poll released on Tuesday.

Obama Adviser: Tea Party Demands Stalling Deal to Avert Gov't Shutdown

Obama senior adviser David Plouffe accuses 30 Tea Party members in Congress of controlling the debate — whether over deficit reduction, taxes or more immediate items like funding for the government and disaster relief — both set to run out this week.'Fox News Sunday' Transcript: Plouffe Defends Obama's Deficit-Reduction PlanFull Coverage:

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