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Keyword: taxcuts

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  • A Pro-Growth Alternative to the Left’s Tax Hike Agenda

    11/21/2019 2:14:54 PM PST · by Tolerance Sucks Rocks · 5 replies
    The Daily Signal ^ | November 20, 2019 | Adam Michel
    America needs a bold agenda to solidify the current economic expansion and return hard-earned money to taxpayers. That runs counter to the consensus of those on the left, who want large increases in federal spending and dramatic tax increases to pay for them. Their plans are so expansive that it will require both middle-class payroll tax hikes and broad new taxes on American savers, investors, and employers. Opposing that growth-killing agenda isn’t enough. Conservatives need to draw a stark contrast and push for a second round of tax relief that will let workers keep more of their money, make it...
  • Trump Needs Tax Cut 2.0

    11/19/2019 4:41:32 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | November 19, 2019 | Stephen Moore
    Every single plausible Democratic candidate for president has endorsed tax increases as a centerpiece of their economic agenda. Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders and the rest of the "Punch and Judy" show: new wealth taxes, carbon taxes, energy taxes, higher death and income taxes with rates up to 70%. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All. I remember a time when liberal Michael Dukakis, running against George H.W. Bush, declared he would only raise taxes as "a last resort." Now Democrats think raising taxes...
  • Trump needs to push tax cut 2.0

    11/18/2019 8:26:55 AM PST · by SeekAndFind · 59 replies
    Washington Times ^ | 11/18/2019 | Stephen Moore
    Every single plausible Democratic candidate for president has endorsed tax increases as centerpieces of their economic agenda. Think about what we are hearing from Elizabeth Warren, Joe Biden, Bernie Sanders, and the rest of the Punch and Judy Show. New wealth taxes, carbon taxes, energy taxes, higher death and income taxes with rates up to 70%. Payroll taxes would rise to pay for Social Security benefit expansions and Medicare for All. I remember a time when liberal Michael Dukakis, when running against George H.W. Bush, declared he would only raise taxes as “a last resort.” Now Democrats think raising taxes...
  • FedEx CEO Blasts NYT Publisher, Demands Public Debate Over “Distorted Factually Incorrect” Tax Story

    11/18/2019 8:03:34 AM PST · by SeekAndFind · 10 replies
    Hotair ^ | 11/18/2019 | Ed Morrissey
    Get ready for the debate of the century — and we’re not talking about the Democratic primaries. That is, get ready if New York Times publisher A.G. Sulzberger has the cojones to face off against a very angry FedEx CEO Fred Smith. The NYT ran an analysis of FedEx’s taxes and accused the company of lobbying for the big tax reform of 2017 on the basis of increasing investment in the US economy — and then reneging on the promise: In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing....
  • ProPublica Swings and Misses on Trump Tax Cut Hit Job

    10/31/2019 7:45:22 AM PDT · by SeekAndFind
    Townhall ^ | 10/31/2019 | Andrew Wilford
    Imagine, for a moment, that you are a journalist for left-leaning media outlet ProPublica. You come across data showing that in the wake of the Tax Cuts and Jobs Act’s (TCJA) caps on deductions that artificially inflated home values, home prices across the country have fallen, particularly in high-income, upper-class areas. How do you respond?If you guessed “spin this news into a narrative about how the TCJA hurt middle-class homeowners,” you’re a winner! That’s exactly what ProPublica editor Allan Sloan did.Sloan used data showing that home values nationally are 4% lower than they otherwise would have been, extrapolating this into a...
  • IMF chief applauds "bravery" of Trump tax cuts

    10/28/2019 8:51:54 AM PDT · by NohSpinZone · 4 replies
    Axios ^ | 10/28/19 | By Felix Salmon
    Kristalina Georgieva, the new managing director of the International Monetary Fund, applauded the Trump administration's "bravery to use a tax reform to spur more growth" in an exclusive interview with "Axios on HBO." Why it matters: Georgieva vowed that she would be able to persuade the U.S. to commit more money to the fund during the course of her five-year term. "I will get my quota increase," she said — in the face of reported U.S. opposition and a U.S. veto over any changes. Georgieva comes to the IMF from the World Bank, where she was CEO and where she...
  • Former Trump campaign advisor Stephen Moore: ‘We knew we weren’t going to get 5% growth’

    10/09/2019 7:46:21 PM PDT · by Beave Meister · 58 replies
    CNBC.com ^ | 10/9/2019 | Jeff Cox
    President Donald Trump is an “exaggerator” who knew his policies wouldn’t generate the 5% growth he had promised while campaigning, according to Stephen Moore, who served as a campaign advisor to Trump and was a prospective Fed nominee. In an interview with Mehdi Hasan, columnist at The Intercept, Moore stopped just short of calling the president a liar, but did say Trump hurts himself with falsehoods. “He should stop saying things that are untrue,” Moore says in a clip from Al Jazeera English television show that Hasan provided on his Twitter feed. “I think Trump is an exaggerator, and I...
  • Yes Mr. President, Cut the Payroll Tax

    08/23/2019 9:38:46 AM PDT · by SeekAndFind · 31 replies
    National Review ^ | 08/23/2019 | Cesar Conda
    With a sturdy job market, healthy consumer balance sheets, and low inflation, the economy is probably not headed toward a recession. But to continue America’s prosperity and guard against a potential economic slowdown caused by the ongoing trade war with China, President Trump should lower one of the most oppressive of all federal taxes — the payroll tax. The payroll tax is imposed on both employees and employers to fund Social Security, Medicare, and other social-insurance programs. Since 1955, the basic payroll tax has nearly quadrupled from 4 percent to 15.3 percent. Today, almost 70 percent of taxpayers pay more...
  • White House mulls payroll tax cut to ease economic concerns: Reports

    08/19/2019 7:27:48 PM PDT · by SeekAndFind · 26 replies
    Fox Business News ^ | 08/19/2019 | Thomas Barrabi
    Top White HouseOpens a New Window. officials are considering a temporary payroll tax cutOpens a New Window. to boost the U.S. economy amid mounting concerns about a possible economic downturn, according to multiple reports on Monday. Internal talks on a payroll tax cut are in their early stages Monday and are one of several potential measures under consideration, the Washington PostOpens a New Window. reported, citing three sources familiar with the matter. White House aides have yet to determine whether to push Congress for approval. “As [National Economic Council Director Larry Kudlow] said yesterday, more tax cuts for the American...
  • When will journalists and Democrats tell the truth about the tax cuts and the economy as a whole?

    08/07/2019 7:51:25 AM PDT · by SeekAndFind · 41 replies
    American Thinker ^ | 08/07/2019 | Jack Hellner
    While the Congressional Budget Office (CBO) and other experts routinely underestimate the costs of government spending programs by huge amounts, they severely underestimate receipts and economic results when there are across the board tax cuts.  The data are readily available, and they show that after the Reagan and Bush major tax cuts, the economy improved rapidly — and tax receipts shot up.  Yet in all projections, the CBO assumes that receipts will go down and the economy won't expand much because of the cuts. The CBO said the Trump tax cuts would cost the government $1.5 trillion over ten years, but...
  • Big Government Is Not the Answer to Climate Change

    07/09/2019 2:44:37 PM PDT · by Tolerance Sucks Rocks · 13 replies
    The Daily Signal ^ | July 8, 2019 | Nicolas Loris
    In the 1970s, Americans were told we were in a global cooling crisis and if something wasn’t done, we’d enter a new ice age. When that didn’t happen, a few decades later we were told that entire nations could be wiped off the face of the Earth by rising sea levels if the global warming trend was not reversed by the year 2000. Despite the consistent failure of these apocalyptic warnings, that hasn’t stopped climate change alarmism. We’re now being told we only have 12 years to combat climate change, and the solution is to fundamentally dismantle the system of...
  • Biden vows to repeal Trump tax cuts on 'Day One' if he captures White House

    06/24/2019 8:52:13 AM PDT · by Signalman · 49 replies
    Fox News ^ | 6/23/2019 | By Vandana Rambaran
    Former Vice President and current presidential candidate Joe Biden promised Saturday that on "Day One" of a Biden presidency he would repeal President Trump's 2017 tax cuts and close $500 billion on tax loopholes. Speaking at the South Carolina Democratic Party Convention, Biden said that "Income inequities are at an all-time high and made worse by Trump's tax cuts and enormous giveaways to the top one-tenth of the 1 percent ... and it's time we start to reward work over wealth." Outlining his policy proposals in this visit to the early primary state, Biden said the GOP-backed tax cuts, which...
  • Don’t Say You Weren’t Warned: Biden Promises To Kill GOP Tax Cuts

    06/20/2019 9:05:32 AM PDT · by SeekAndFind · 18 replies
    Hotair ^ | 06/20/2019 | Andrew Malcolm
    One sure sign the Democratic primary race is getting more heated: Those 23 wannabe presidents are promising to take more of American workers’ income in taxes to pay for some of the free stuff they’re offering simultaneously. Such a deal!We’re sure to hear more about their vast spending hopes next week during the first pair of Democratic debates. They’ll play down the tax angle, except to claim falsely Trump’s tax cuts were really tax hikes. Fact Checker to Aisle 3 please!Bernie Sanders, a socialist who owns three homes, isn’t a Democrat. But he plays one every four years before...
  • Mayor Pete on Tax Cuts: 'The Reagan Neo-Liberal Era is Now Over'

    06/15/2019 4:38:21 PM PDT · by E. Pluribus Unum · 50 replies
    PJ Media ^ | 15 June 2019 | NICHOLAS BALLASY
    ALEXANDRIA, Va. -- South Bend Mayor Pete Buttigieg, a 2020 Democratic presidential hopeful, said the governing philosophy of Republicans such as former President Ronald Reagan, who signed across-the-board tax rate cuts to grow the economy, should not be repeated in the future. "What we've seen is that the rising tide rose, right? GDP went up. Growth went up. Productivity went up -- big numbers went up and most of our boats didn't budge. For 90 percent of Americans, you start the clock right around the time I'm born. Income didn't move at all -- so lower to middle income, really,...
  • No, Tax Cuts Aren’t Causing the Latest Deficit Spike

    06/14/2019 10:28:10 AM PDT · by SeekAndFind · 23 replies
    Issues and Insights ^ | 06/14/2019 | John Merline
    The Treasury Department reported a $208 billion deficit for the month of May — which is $61 billion higher than May 2018. To put that in perspective, the deficit for the entire year of 2007 was $161 billion. In the first eight months of the current fiscal year, red ink has already reached $738 billion. Even adjusting for inflation, the total annual federal deficit has exceeded that only six times in the nation’s history (five of them under President Obama). Not surprisingly, the Republican tax cuts are taking the blame for this year’s extraordinary deficits. But wait a minute. Overall...
  • A devastating analysis of the tax cut shows it’s done virtually no economic good (barf alert)

    06/01/2019 8:40:47 PM PDT · by Beave Meister · 26 replies
    Los Angeles Times ^ | 5/29/2019 | MICHAEL HILTZIK
    You may remember all the glowing predictions made for the December 2017 tax cuts by congressional Republicans and the Trump administration: Wages would soar for the rank-and-file, corporate investments would surge, and the cuts would pay for themselves. The nonpartisan Congressional Research Service has just published a deep dive into the economic impact of the cuts in their first year, and emerges from the water with a different picture. The CRS finds that the cuts have had virtually no effect on wages, haven’t contributed to a surge in investment, and haven’t come close to paying for themselves. Nor have they...
  • The Blueprint for a Balanced Budget That Can Still Cut Taxes

    05/31/2019 5:54:51 PM PDT · by Tolerance Sucks Rocks · 5 replies
    The Daily Signal ^ | May 30, 2019 | Adam Michel
    If Congress doesn’t act, Americans’ taxes will automatically increase in the coming years. The 2017 tax cuts are temporary, and some of those taxes are scheduled to start increasing in three years’ time. Last year, American families of four saw their taxes cut by an average of $3,000. The typical taxpayers benefited from getting to keep about $1,400 more of their hard-earned money. One of the most important parts of the tax cuts, which support new business investments for workers and jobs, begins to expire after 2022. Three years after that, taxes increase on personal income. As deficits increase to...
  • New York, California get 'aggressive' when residents try to flee high taxes

    05/16/2019 1:08:03 PM PDT · by Beave Meister · 68 replies
    Fox Business News ^ | 5/15/2019 | Brittany De Lea
    As an increasing number of residents are looking to leave high-tax Opens a New Window. states, such as California and New York, some of these state and local governments Opens a New Window. are not making the process easy. The Tax Cuts and Jobs Act introduced a number of reforms, including a $10,000 cap on state and local tax deductions, which have caused Americans to look into establishing legal primary residences in states where they can limit their liabilities. But some states give taxpayers a hard time when they are trying to change their domicile – thereby establishing their permanent...
  • Why We Must Hang with Trump on Tariffs

    05/13/2019 11:59:45 AM PDT · by Kaslin · 17 replies
    Rush Limbaugh.com ^ | May 13, 2019 | Rush Limbaugh
    RUSH: It’s amazing. The Drive-By Media now understands the concept of tax cuts and tax increases, but it took tariffs and a tariff war with the ChiComs for the Drive-Bys to understand it. I’m being ironic and a little sarcastic. They know it and understand it. It’s just that since the Republicans own mantra of tax cuts, since that is a Republican owned belief… Democrats don’t believe in cutting taxes; Republicans do, and the Democrats know it. So whenever the concept of tax cuts comes up, the Democrats and the media have to destroy it, as they did the latest...
  • How to pay? Income tax needed for $110 million roadwork plan, $20 million jail project

    04/25/2019 10:34:09 AM PDT · by Tolerance Sucks Rocks · 12 replies
    The Daily Journal ^ | April 10, 2019 | Magen Kritsch
    Workers in Johnson County could have hundreds of additional dollars taken out of their paychecks annually to help pay for roadwork in the county and an expansion of the county jail — work expected to cost more than $130 million in the next five years. The Johnson County Council unveiled an income tax increase proposal to fund $110 million in road, bridges and infrastructure improvements across the county, mainly due to the construction of Interstate 69, and an estimated $20 million jail expansion project that would address a frequently overcrowded jail that the state has ordered the county to fix....