Keyword: taxandspend

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  • Virginia Dems to Raise Gas Tax by 10 Cents a Gallon

    03/07/2020 4:59:12 AM PST · by kevcol · 69 replies
    Washington Free Beacon ^ | March 6, 2020 | Graham Piro
    Virginia Democrats agreed to a deal raising gas taxes in the state by a total of 10 cents over the next two years, a move party leadership said would give people "more time with their families." . . . "This is a historic agreement that will give Virginians more time with their families and less [time] stuck in traffic," Virginia House of Delegates speaker Eileen Filler-Corn (D.) said.
  • The cost of Sanders' agenda -- possibly $60 trillion -- would set a peacetime US record

    01/29/2020 6:04:46 AM PST · by karpov · 13 replies
    CNN ^ | January 17, 2020 | Ronald Brownstein
    While the new spending programs Sen. Bernie Sanders has proposed in his presidential campaign would at least double federal spending over the next decade, he has provided little detail about how he would implement or finance such a massive increase. The Vermont independent's agenda represents an expansion of government's cost and size unprecedented since World War II, according to estimates from his own website and projections by a wide variety of fiscal experts. Sanders' plan, though all of its costs cannot be precisely quantified, would increase government spending as a share of the economy far more than the New Deal...
  • First in Nation - Portland's Climate Justice Tax

    01/19/2020 8:46:45 AM PST · by nwrep · 134 replies
    Willamette Week ^ | January 17, 2020 | Nigel Jacquiss
    “The goal is ensuring the green economy benefits folks who are hurt first and worst by global warming,” says Oriana Magnera. In just a few months, the city of Portland will begin investing the proceeds from a groundbreaking new tax on large companies. No other city in the U.S. has such a tax. The Portland Clean Energy Community Benefits Fund, or PCEF, will raise as much as $60 million a year from a new tax on big retailers. The money is supposed to supply clean, efficient energy and jobs to people the city has long slighted. The overarching goals:...
  • Va Poll Shows support for democrat’s Priorities in 2020 general assembly

    12/16/2019 10:04:41 AM PST · by fruser1 · 28 replies
    WTOP news ^ | Max Smith
    The poll is based on interviews last month with 901 registered Virginia voters.
  • Democrats unveil proposal for 'millionaires surtax'

    11/07/2019 10:01:50 AM PST · by yesthatjallen · 50 replies
    The Hill ^ | 11 07 2019 | Naomi Jagoda
    Rep. Don Beyer (D-Va.) and Sen. Chris Van Hollen (D-Md.) on Thursday rolled out a proposal for a “millionaires surtax,” amid a growing interest from Democrats in increasing taxes on the wealthy. “This is a bill designed to address two major problems of public policy: the lack of revenue, and inequality,” Beyer said on a call with reporters. “It’s a laser-focused solution that requires those who benefited the most from the economy to contribute in a way they simply haven’t been asked to before.” The lawmakers’ bill, which is being co-sponsored by Sen. Sherrod Brown (D-Ohio), would create a 10-percentage...
  • Calif. Taxpayers on Hook for Six-Figure Government Pensions

    11/07/2019 9:35:53 AM PST · by MarvinStinson · 32 replies
    freebeacon ^ | NOVEMBER 7, 2019 | Yuichiro Kakutani
    Nearly 80,000 Californians collected six-figure taxpayer-funded pensions in 2018, as retirement costs leave half the state's cities at "high risk" of serious financial distress, according to an analysis. Transparent California, a free-market think tank, found that 6 percent of retired government workers collected more than $100,000 in 2018, an 85 percent jump since 2013. Those payouts represented 20 percent of the $51.7 billion in total pension payments. Taxpayers spent a record-high $40 billion to cover the costs of public sector retirees in 2018, the report also found. The median household income in California is $75,277. The six-figure payouts propel thousands...
  • Elizabeth Warren's Student Debt Relief Plan Would Punish Those Making $250,000 or More

    10/30/2019 10:10:54 AM PDT · by Kaslin · 46 replies ^ | October 30, 2019 | Timothy Meads
    Senator Elizabeth Warren of Massachusetts sat down with New Hampshire Public Radio on Wednesday for a lengthy discussion of her many different "plans." All her proposed solutions to our nation's problems end in more taxation, bigger government, and less freedom. Radio host Laura Knoy asked Warren what, if any, limits Sen. Warren's proposed plan to eliminate college student debt would have. In short, the Massachusetts Senator told the Granite State that if you're a college graduate earning $250,000 or more, sorry pal, you will not have your debt cancelled. And if you are very rich, you will more or less...
  • Soak the rich with taxes and everyone will get clobbered

    10/18/2019 7:40:58 AM PDT · by yesthatjallen · 18 replies
    The Hill ^ | 10/18/19 | Stephen Moore and Arthur Laffer
    Not that long ago there was a broad political consensus that a fair and economically efficient tax system has a broad tax base and low tax rates. The grand bargain was no special interest loopholes and low tax rates to boost the economy and jobs. As recently as the 1980s, Democrats and Republicans alike joined together to pass a tax reform that lowered income tax rates to 28 percent, while eliminating deductions and carve outs. Nearly every Senate Democrat, including Ted Kennedy, Al Gore, Joe Biden, Bill Bradley, and Howard Metzenbaum, voted for this new tax system. It worked. SNIP...
  • Washington Post: For the first time, workers are paying a higher tax rate than investors and owners

    10/17/2019 9:47:54 AM PDT · by SeekAndFind · 30 replies
    Washington Post ^ | 10/17/2019 | By Christopher Ingraham
    Most Americans have to work to earn a living. But the rich are different: They get most of their income not from labor but from what they own — companies, stocks, real estate and the like. These income-generating assets are what economists call capital. And because capital is heavily concentrated among the rich, the U.S. government taxed earnings derived from capital at a higher rate than earnings made through labor for the entirety of the 20th century. But that’s no longer the case, according to economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley. In their...
  • People Are Fleeing New York At An Alarming Rate

    09/30/2019 12:31:36 AM PDT · by Windflier · 77 replies
    New York Post ^ | April 1, 2017 | Aaron Short
    More people are leaving the New York region than any other major metropolitan area in the country. More than 1 million people moved out of the New York area to other parts of the country since 2010, a rate of 4.4 percent — the highest negative net migration rate among the nation’s large population centers, US Census records show. The number of people leaving the region — which includes parts of New Jersey, Connecticut, the lower Hudson Valley and Long Island — in one year swelled from 187,034 in 2015 to 223,423 in 2016, while the number of international immigrants...
  • Bernie Sanders Calls for 8% Wealth Tax on Richest Americans

    09/25/2019 5:31:13 AM PDT · by karpov · 53 replies
    Wall Street Journal ^ | September 24, 2019 | Richard Rubin
    Presidential candidate Bernie Sanders proposed an annual wealth tax topping out at 8% for the richest Americans, offering the farthest-reaching Democratic plan to pay for expanded government programs and break up concentrated fortunes. Mr. Sanders’s plan would hit more households and raise more money than the tax proposed by Sen. Elizabeth Warren of Massachusetts, his chief rival for progressive voters. According to an analysis by economists who consulted with both campaigns, Mr. Sanders’s plan would generate $4.35 trillion over a decade, compared with Ms. Warren’s $2.75 trillion. Mr. Sanders’s plan would increase federal revenue by about 10%, all from around...
  • Sanders releases plan to eliminate $81B in medical debt: 4 things to know

    09/23/2019 10:37:05 AM PDT · by buckalfa · 18 replies
    Becker's Hospital Review ^ | September 23, 2019 | Ayla Ellison
    Democratic presidential candidate Sen. Bernie Sanders has released a plan to eliminate $81 billion in past-due medical debt and use bankruptcy courts to process other existing and future medical debt. Four things to know: 1. The plan calls for the federal government to negotiate and pay off past-due medical bills in collections that have been reported to credit agencies. 2. The campaign chose $81 billion based on a 2018 Health Affairs study. Researchers found one in six Americans have past-due medical bills on their credit report totaling $81 billion. Fifty-three percent of those bills amount to less than $600 each....
  • Awkward: Colbert Corners Warren on Middle Tax Class Increases, Calls Her Out When She Dodges

    09/19/2019 8:38:58 AM PDT · by SeekAndFind · 29 replies
    Townhall ^ | 09/19/2019 | Guy Benson
    On Stephen Colbert's CBS late night show, the host challenged Elizabeth Warren on the issue of single-payer healthcare, which she unequivocally supports. He attempted to nail the leftist Senator down on the question of whether or not middle class Americans' taxes would have to go up (they would, a lot) in order to fund the program she and Bernie Sanders have proposed. She ducked, he drilled down further, then she ducked again -- prompting the comedian to call her out on it, seemingly to her surprise: “You keep being asked in the debates, how are you going to pay...
  • Many grocery store items will be taxed at 7.35% starting October 1 (CT)

    09/13/2019 6:03:24 AM PDT · by Puppage · 60 replies
    WTNH.COM ^ | 09/13/2019 | Mark Davis
    It was widely reported earlier this year that the new state budget imposes an additional one percent tax on restaurant meals bringing that total ‘meals tax’ to 7.35%. What you may have missed is that the 7.35% tax will also be imposed on many ready to eat prepared foods at the supermarket that have never been taxed before. “It is simply a money grab, that’s all it is,” said Senate Minority Leader Sen. Len Fasano (R-North Haven). Republicans say it was sold to the public as a simple one percent tax hike on restaurant meals. But the list from the...
  • Billionaire Carl Icahn moving business from NY to Florida for lower taxes: report

    09/13/2019 8:07:59 AM PDT · by Olog-hai · 16 replies
    Fox News ^ | 09/13/2019 | Edmund DeMarche
    Carl Icahn, the legendary investor, has told employees that he is moving his company from New York to Miami and a report said his decision to move is based on the Big Apple’s higher taxes. Icahn, 83, whose net worth is about $20.4 billion, is set to move his home and business from the city due to the taxes, sources told Bloomberg. The report said that it is not uncommon for billionaires to settle in the state which is one of seven without a personal income tax. The report pointed to New York’s 8.82 percent rate. …
  • Zero Cheers for Warren’s Wealth Tax

    09/05/2019 10:23:51 AM PDT · by karpov · 12 replies
    National Review ^ | September 5, 2019 | Michael R. Strain
    Senator Warren’s proposal would hit fortunes above $50 million with a 2 percent annual wealth tax. Fortunes above $1 billion would be taxed annually at 3 percent. Why is this a bad idea? Recent research and analysis convincingly argues that the plan would collect a fraction of the revenue that Warren’s advisers expect. Lawrence Summers, the economist and former Treasury secretary, and Penn professor Natasha Sarin argue this from the U.S.’s experience with the estate tax. And economists Matthew Smith, Owen Zidar and Eric Zwick present preliminary estimates suggesting that the Warren proposal would raise half as much as projected....
  • Chicago homeowners are suffocating under pensions and property tax hikes

    08/26/2019 6:50:23 AM PDT · by C19fan · 54 replies
    Washington Examiner ^ | August 23, 2019 | Orphe Divounguy
    The nation is more than a decade past the Great Recession, and most places are seeing a strong economic recovery and improved living standards. Not in Chicago, and not in Illinois. August statistics from the National Association of Realtors noted the city and state’s real estate market has severely underperformed, a trend forecasted to continue in the third quarter of this year. While the Midwest and the nation as a whole saw a very minor dip in home sales and surging Midwest home prices, Chicago missed the wave. Home sales in the Windy City experienced a 13.3% plunge, and the...
  • More Refugees Now, Says Democrats’ 1984 Presidential Loser, Walter Mondale

    07/24/2019 6:23:00 AM PDT · by ChicagoConservative27 · 21 replies
    Breitbart ^ | 07/24/2019 | Neil Munro
    Americans must accept more of the world’s refugees into their job markets and neighborhoods, says a Washington Post op-ed by Walter Mondale, the Democrat presidential candidate who lost 49 of 50 states to President Ronald Reagan in November 1984. “There is hope,” Mondale says in his op-ed, continuing: While most Americans do not have the privileges my office afforded me in 1979, nor the platforms upon which to speak out, there are steps everyone can take to make a real, tangible impact. Contact your representatives in Washington. Make the case for an increase in refugee admissions. Speak up against this...
  • Census Data Shows Thousands More Moving Out Of LA, OC Than Moving In

    06/28/2019 4:01:22 AM PDT · by C19fan · 15 replies
    CBS LA ^ | June 26, 2019 | Staff
    More people are leaving Orange and Los Angeles counties than are moving in, according to census data. A breakdown of last year’s census numbers shows Orange County had 20,104 more people leave than move in, marking the 10th worst net out-migration among big counties in the U.S. L.A. County had 98,608 people leave, marking the biggest net loss in the U.S. Gabriela Aragon, of Santa Ana, isn’t surprised to hear about exodus. “If I want a nice three bedroom home … you think you’re not gonna be able to afford it here so maybe elsewhere,” she said.
  • Who will foot the bill for all the taxes Democrats have proposed? Take a guess

    06/25/2019 9:16:22 AM PDT · by Kaslin · 14 replies
    Fox ^ | June 25, 2019 | Ken Blackwell
    In dueling campaign rallies, former Vice President Joe Biden and President Trump made their argument to voters in Iowa. Biden joined his Democratic opponents in calling for higher capital gains taxes to pay for his pet programs. Democrats are racing to the left in a desperate attempt to mollify their radicalized base. Almost every 2020 Democratic presidential candidate is abandoning capitalism. Sen. Elizabeth Warren, D-Mass., who has said she is a "capitalist to my bones," sings the same chorus with her massive wealth tax plan. Her campaign estimates that it would cost the American people $3 trillion over 10 years....