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The Tax Cut No One Noticed

October 20, 2010 - by Donny Shaw

Did you notice that your federal tax bill was lower last year? If you're like most people, you didn't. But believe it or not, one of the first things Barack Obama and 111th Congress did when they took office in 2009 was pass an income tax cut for about 95% of U.S. tax payers. The New York Times reported yesterday on why this went so unnoticed:

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Congress Eyes 775% Increase on Pipe Tobacco Tax

February 2, 2010 - by Donny Shaw

Manufacturers of roll-your-own tobacco have been dodging an enormous federal tax increase by re-branding as "pipe tobacco." Congress has a plan to fix the loophole -- raise taxes on pipe tobacco by 775% so that it is taxed at the same rate as roll-your-own tobacco.

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