Tax Code Spurs Llamapalooza

Sometimes the government can get downright clever when it comes to taking your hard-earned money.

(NEWSER) - You don't have to be a fool to part with your money. Forbes gives you the 10 hidden taxes that cost you the most.

1. Gasoline tax
2. Cigarette tax
3. Sugar "tax"

“I’m sometimes frustrated by the long stories," would-be owner says

(NEWSER) - Rubert Murdoch sometimes finds Wall Street Journal stories a little long. He'd like to see more politics on the editorial page, and to launch a glossy magazine for the Saturday edition. The Aussie tycoon wasn't shy about sharing plans for the paper, should he succeed in buying parent company Dow Jones, in a lengthy sit-down with the Times. More»

Bill limits pretax earnings managers can invest in their offshore funds

(NEWSER) - The Senate has an eye on extraordinary tax breaks that have allowed hedge fund managers to sock away hundreds of millions of dollars tax free, using their funds like giant pension schemes, the Times reports. Managers who run offshore funds can re-invest earnings in their own funds, deferring taxes for 10 years or more. More»

(NEWSER) - Tax preparers Jackson Hewitt have bilked the government out of more than $70 million, alleges a suit filed yesterday by the Justice Department. The suit claims that over 125 of the company's franchises, all owned at least in part by the same Atlanta businessman, engaged in massive tax fraud. More»

Most just ignored the question from Salon

(NEWSER) - Salon sent queries to every single billionaire on the Forbes 400 asking whether they would be willing to pay more taxes. The results: Eight said yes (including Buffett), one said no (Charles Koch), and a few offered qualified answers somewhere in between. The other 390 or so—including Oprah, Mayor Bloomberg, and Steven Spielberg—didn't answer. Samples from those who did respond: More»