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Keyword: taxandspend

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  • The Real Reason Democrats Hate Losing the State and Local Tax Deduction

    11/29/2017 10:53:22 AM PST · by Boomer · 41 replies
    Townhall ^ | 11/29/17 | Bob Barr
    Since state and local taxes can be deducted, the tax burden is shifted from those governments to the federal government, which in turn makes up for this lost revenue by keeping taxes higher on the rest of the country. In effect, taxpayers in low-tax states and cities, like those in the South, are forced to subsidize the lavish public spending of liberals in New York, New Jersey, Connecticut, and California, who have little incentive to reduce the local taxes that fund their pet projects. It is much like making charitable donations online using someone else’s credit card. It does not...
  • States ranked by claims for state and local tax deductions

    11/20/2017 4:42:05 PM PST · by SkyPilot · 323 replies
    AP and ABC News ^ | 18 Nov 17 | AP Staff
    The percentage of federal individual income tax filers claiming a deduction for state and local taxes paid in 2015, ranked by state: 1. Maryland: 45.7 percent 2. Connecticut: 41.3 percent 3. New Jersey: 41.2 percent 4. Virginia: 37.3 percent 5. Massachusetts: 36.9 percent 6. Oregon: 36.0 percent 7. Utah: 35.3 percent 8. Minnesota: 34.7 percent 9. New York: 34.5 percent 10. California: 34.4 percent 11. Georgia: 32.8 percent 12. Rhode Island: 32.8 percent 13. Colorado: 32.5 percent 14. Delaware: 31.6 percent 15. Illinois: 31.3 percent 16. Wisconsin: 31.0 percent 17. New Hampshire: 30.9 percent 18. Washington: 29.9 percent 19. Iowa:...
  • Republicans vote for a tax increase

    11/11/2017 9:55:57 AM PST · by WilliamIII · 42 replies
    Fox and Hounds Daily ^ | Nov 10 2017 | Tony Quinn
    California Republicans are about to vote for a major tax increase, on California Republicans. That’s what will happen when they pass the Congressional Republican tax reform bill that does away with the state and local tax deduction to your federal taxes, widely used by middle class Californians.
  • Fortune Magazine Column: You’re Better Off in a State With a Higher Income Tax

    10/30/2017 2:21:45 PM PDT · by SeekAndFind · 41 replies
    Fortune ^ | 10/30/2017 | Carl Davis
    Many lawmakers in Congress and in statehouses around the country peddle the same supply-side theory about income taxes: the lower the tax, the more the economy will grow. But new research from the Institute on Taxation and Economic Policy reveals this economic approach is failing to deliver in the states. In fact, states with higher income taxes outperformed states with no income tax. My colleagues and I compared the economic track record of the states that have charted the most radically different courses with their income tax policies, or lack thereof. Specifically, we examined economic growth in the nine states...
  • Pension costs ‘crowding out’ spending on parks, schools and social services, report says

    10/04/2017 4:14:30 PM PDT · by artichokegrower · 26 replies
    Sacramento Bee ^ | October 04, 2017 | Adam Ashton
    California governments likely will make do with fewer teachers, parks employees and other public workers while they struggle to absorb fast-rising pension costs in the next few years, a former state lawmaker argues in a study released this week through Stanford University. Former Democratic Assemblyman Joe Nation projects that many cities, counties and school districts will double their spending on pensions by 2030, “crowding out” their ability to fund public services.
  • Theodore Roosevelt supported the death tax

    09/30/2017 8:04:42 AM PDT · by ProgressingAmerica · 53 replies
    Chalk another one up for big government progressivism. I recently posted about progressive republicans and the 16th amendment, having learned during that research that this was the case: I did not know previously that TR supported the death tax. Here is what he said in 1906: As a matter of personal conviction, and without pretending to discuss the details or formulate the system, I feel that we shall ultimately have to consider the adoption of some such scheme as that of a progressive tax on all fortunes, beyond a certain amount, either given in life or devised or bequeathed upon...
  • The US government just passed $20 trillion in debt for the first time ever

    09/11/2017 3:28:25 PM PDT · by Drago · 100 replies
    Business Insider ^ | 09/11/2017 | Bob Bryan
    For the first time in its history, the US federal government has more than $20 trillion in outstanding debt. The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding.
  • City Haul: More than a third of Chicago city workers make $100K-plus

    08/27/2017 6:35:52 AM PDT · by george76 · 13 replies
    Chicago Sun-Times ^ | 08/26/2017 | THE WATCHDOGS
    Thirty-six city workers topped Mayor Rahm Emanuel’s $216,210 salary. Most of them worked for the police department (23 employees) or the fire department (12). More than one of every three Chicago city workers made $100,000 or more last year — including 36 who topped Mayor Rahm Emanuel’s $216,210 salary, a Chicago Sun-Times analysis has found. The number of city workers making more than Emanuel was up from 26 in a similar review by the Sun-Times in 2015. And the percentage of city employees topping the $100,000 mark is up slightly since then. ... among the highest-paid was Donald Koplitz, a...
  • Tim Ryan: ‘We Can’t Just Be the Party of Redistribution of Wealth’

    08/24/2017 12:35:49 PM PDT · by ForYourChildren · 50 replies
    Washington Free Bacon ^ | 08/24/2017 | Katelyn Caralle
    Rep. Tim Ryan (D., Ohio) said Thursday that the Democratic Party is headed in the right direction after its November loss, but can no longer only be the "party of redistribution of wealth." MSNBC "Morning Joe" co-host Willie Geist asked Ryan if he felt the Democratic Party learned its lesson from the 2016 presidential election loss after seeing blue states go red. Ryan said he believes Democrats are "taking steps in the right direction," and what they need to do is focus on the American job market and economy right now. "We have to say, look, we're the party to...
  • Trump: Don’t Blame Me If We Hit The Debt Ceiling, Blame McConnell And Ryan

    08/24/2017 10:10:04 AM PDT · by SeekAndFind · 22 replies
    Hotair ^ | 08/23/2017 | AllahPundit
    I requested that Mitch M & Paul R tie the Debt Ceiling legislation into the popular V.A. Bill (which just passed) for easy approval. They…— Donald J. Trump (@realDonaldTrump) August 24, 2017 …didn't do it so now we have a big deal with Dems holding them up (as usual) on Debt Ceiling approval. Could have been so easy-now a mess!— Donald J. Trump (@realDonaldTrump) August 24, 2017 Answer: Half-true! According to a Wall Street Journal story from mid-July, the White House was indeed looking to stitch a debt-ceiling hike onto the popular, must-pass VA reform bill as a way of...
  • Drowning in debt, Connecticut faces budget crunch

    08/23/2017 5:59:04 PM PDT · by Olog-hai · 38 replies
    Reuters ^ | August 23, 2017 | 7:28 AM | Hillary Russ
    Connecticut, home to hedge fund billionaires alongside cities mired in poverty, is racing against the clock to pass a budget or face further spending cuts to education and municipal aid across the state. Nearly two months without a budget, Connecticut is getting crushed by a burdensome debt load that has squeezed spending and amplified legislative discord. State lawmakers must agree on a biennial budget soon or else Governor Dannel Malloy’s executive order to slash state aid to municipalities and eliminate school funding for some districts will go into effect in October. The state faces a $3.5 billion deficit over the...
  • Democrats worry about political fallout from county soda pop tax

    08/11/2017 8:32:38 AM PDT · by Oldeconomybuyer · 41 replies
    Chicago Tribune ^ | August 11, 2017 | by Rick Pearson and Hal Dardick
    Concern about the political effects of a deeply unpopular county pop tax — on top of recent state and city tax increases — on Thursday hung over the first day of Cook County Democrats' endorsement session for next year's primary election. Northwest Side Ald. Nicholas Sposato, 38th, said he expects some backlash against the pop tax "down the road in the election next year." People complaining to him about the tax "are blaming the Democrats," he said, adding that the income tax increase would compound the problem. Democrats last month overrode Gov. Bruce Rauner's veto of a state income tax...
  • L.A. County hands $1.3B — Billion! — to illegals for welfare

    08/10/2017 6:49:53 PM PDT · by Beave Meister · 19 replies
    GOPUSA ^ | 8/9/2017
    llegals living in Los Angeles County were handed almost $1.3 billion in welfare payouts between the months of 2015 and 2016, Fox News reported, citing data. That’s billion with a capital “B.” That’s a quarter of what the county distributed to its entire needy population in those same months. Liberals and government elitists always like to make the case that citizens ought to support some cheap-sounding fee- or tax-paying cause by grandly pronouncing, “It’s just the cost of a cup of coffee,” or “If everyone just gave up their Starbucks lattes, it’d pay for itself.” Well, guess what $1.3 billion...
  • Obama Looted Fannie Mae and Freddie Mac

    07/29/2017 7:44:42 AM PDT · by Kaslin · 38 replies
    American Thinker.com ^ | July 29, 2017 | Brian McNicoll
    President Obama never was shy about using his phone and pen to achieve what he could not get from Congress on regulatory matters. But documents revealed last week show the Obama administration may have been willing to get around congressional decisions on spending by using a slush fund of sorts funded by the profits of Freddie Mac and Fannie Mae, the two government-sponsored home loan giants. Fannie and Freddie are federally chartered enterprises which buy mortgage loans from banks and bundle them into securities that are sold to investors, thus freeing up capital so that banks can make more home...
  • A new tax on sugary drinks designed to generate revenue for cash-strapped Cook County .......

    07/31/2017 5:10:57 AM PDT · by sleeper-has-awakened · 71 replies
    illinoispolicy.org ^ | 06/28/17 | Robert Brutvan
    Full Title: A new tax on sugary drinks designed to generate revenue for cash-strapped Cook County will be the third burdensome tax applied to soda prices in Chicago, making a $4 12-pack of soda in the city cost $5.97. Beginning July 1, residents of Cook County may notice their grocery bills growing as a penny-per-ounce tax on artificially sweetened beverages takes effect.The new tax will be added on top of Chicago’s highest in the nation sales tax of 10.25 percent and the city’s 3 percent tax on non-alcoholic beverages. With the new sugary beverage tax, soda in Chicago will be...
  • Steve Bannon Pushing For 44 Percent Marginal Tax Rate On The Very Rich

    07/26/2017 5:10:06 PM PDT · by sunrise_sunset · 96 replies
    The Intercept/Drudge ^ | 7/26/2017 | Ryan Grim
    Top White House adviser Steve Bannon is pushing for tax reform to include a new 44 percent top marginal tax rate, hitting people who earn more than $5 million a year, with the revenue paying for tax cuts for the rest, according to three people who’ve spoken to him recently.
  • Why Illinois Is In Trouble - 63,000 Public Employees With $100,000+ Salaries Cost Taxpayers $10B

    07/26/2017 10:08:53 AM PDT · by SeekAndFind · 35 replies
    Forbes ^ | 07/26/2017 | Adam Andrzejewski
    Illinois is broke and continues to flirt with junk bond status. But the state’s financial woes aren’t stopping 63,000 government employees from bringing home six-figure salaries and higher. Whenever we open the books, Illinois is consistently one of the worst offenders. Recently, we found auto pound supervisors in Chicago making $144,453; nurses at state corrections earning up to $254,781; junior college presidents making $465,420; university doctors earning $1.6 million; and 84 small-town “managers” out-earning every U.S. governor. Using our interactive mapping tool, quickly review (by ZIP code) the 63,000 Illinois public employees who earn more than $100,000 and cost taxpayers...
  • Why people are getting the hell out of the Northeast

    07/26/2017 9:06:34 AM PDT · by TigerClaws · 155 replies
    Winter is coming for the North. Last year, three states in the Northeast — New Jersey, New York and Connecticut — landed in the top five places people were moving out of fastest, according to 2017 data from United Van Lines. (The other two states on the list were Illinois and Kansas.) And data from Pew Charitable Trusts found that while people are all about moving to the South (their population grew by nearly 1.4 million people from 2014 to 2015) and the West (866,000 more people,) the population growth in the Northeast is “sluggish.” The Northeastern exodus is particularly...
  • Trump had ‘The Art of the Deal.’ Now Democrats say their economic agenda is ‘A Better Deal.’

    07/23/2017 7:45:34 AM PDT · by Libloather · 41 replies
    Washington Post via MSN ^ | 7/22/17 | Ed O'Keefe, David Weigel
    **SNIP** Democratic leaders shared few details to preserve suspense around the plan, which is scheduled to be unveiled Monday at an event in Virginia’s 10th Congressional District, where the party hopes to defeat incumbent Rep. Barbara Comstock (R). But some lawmakers, aides and outside advocates consulted on the new agenda said that it is expected to focus on new proposals to fund job-training programs, renegotiate trade deals and address soaring prescription-drug costs, as well as other issues. It is also expected to endorse long-held Democratic principles, including “a living wage” of $15 per hour and already unveiled spending plans for...
  • Liberal Values Are Bankrupting Us

    07/19/2017 10:54:09 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | July 19, 2017 | Star Parker
    Recently, Gallup published the results of its annual Values and Beliefs poll. The headline of the report speaks for itself: "Americans Hold Record Liberal Views on Most Moral Issues." Gallup has been doing this poll since 2001, and the change in public opinion on the moral issues surveyed has been in one direction -- more liberal. Of 19 issues surveyed in this latest poll, responses on 10 are the most liberal since the survey started. Sixty-three percent say gay/lesbian relations are morally acceptable -- up 23 points from the first year the question was asked. Sixty-two percent say having a...