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Keyword: taxes

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  • Democrats In Love With Big Tax Hikes Might Do Well To Remember Walter Mondale

    10/22/2020 10:06:14 AM PDT · by Signalman · 11 replies
    Tax Policy Center ^ | 12/9/2019 | Howard Gleckman
    When I heard that Democratic presidential hopeful Joe Biden was proposing to raise taxes by $3.2 trillion over 10 years, I flashed back to Walter Mondale and thought: My, how things have changed. Mondale, like Biden, was a former vice-president and political moderate who was looking to gain the Oval Office. Mondale, in what was sadly—for him—the most memorable phrase of his 1984 campaign against Ronald Reagan—explicitly promised to raise taxes. In what has since been known as the Mondale moment, he said this: “Mr. Reagan will raise taxes, and so will I. He won't tell you. I just did."...
  • Reports: Biden’s tax plan would increase taxes across the board, estimates vary by how much

    10/22/2020 8:15:23 AM PDT · by Behind Liberal Lines
    © Copyright 2020 The Livingston Parish News, ^ | 10/21/20 | By Bethany Blankley
    Democratic presidential candidate Joe Biden’s proposed tax increases of nearly $4 trillion over the next 10 years, if passed, “would be the highest in American history – indeed, in world history,” an analysis of his plan determined. A separate analysis by the nonprofit, nonpartisan, Washington, D.C.-based Tax Foundation found that Biden’s tax plan would reduce the economy’s size by 1.47 percent in the long run. It would also shrink capital stock by just over 2.5 percent and reduce the overall wage rate by a little over 1 percent, resulting in a loss of 518,000 full-time jobs. His plan would raise...
  • Americans Spent More on Taxes in 2019 Than on Food, Clothing, Health Care and Entertainment Combined

    10/21/2020 8:09:53 AM PDT · by Kaslin · 14 replies ^ | October 21, 2020 | Terry Jeffrey
    In 2019, according to the Consumer Expenditure Survey published by the Bureau of Labor Statistics, Americans on average spent more on taxes than they did on food, clothing, health care and entertainment combined. Bottom line: Funding their local, state and federal governments cost Americans more on average last year (which was before the COVID-19 pandemic hit) than making sure their families were fed, clothed, had health care -- and could keep a dog or cat, buy toys for their kids, pay for cable TV and attend an occasional baseball game or movie. For each of the last seven years, the...
  • Joe Biden’s Planned Economic Fiasco Should Cement a Donald Trump Victory

    10/20/2020 3:55:44 PM PDT · by Kaslin · 9 replies ^ | October 20, 2020 | Brad Slager
    In this era of Covid, media distemper, "calling of lids," Russian collusion, and Ukraine fracking email scandals, it is difficult for more conventional campaign issues to come to the fore in this election. I mean let’s be honest, education spending and infrastructure projects, for example, are not likely to nudge topics like crack-fume-infused laptops off of the front page of news sites.  Granted, while economic policy is not the sexiest of debate topics, it would serve President Trump well to invoke the issue on Thursday in his final debate with Biden. Joe has proposed some rather extreme measures that should...
  • NY, NJ could see taxes increase over 58 percent under Joe Biden: analysis

    10/20/2020 7:24:21 AM PDT · by Oldeconomybuyer · 16 replies
    NY Post ^ | October 20, 2020 | By Mark Moore
    High earners in New York and New Jersey could see federal and state tax rates of more than 58 percent under former Vice President Joe Biden’s tax proposals, according to an analysis of the plan. While Biden would slice taxes for Americans earning under $400,000, those making more than that would face double-digit increases, the Washington, DC-based Tax Foundation found. The Empire State could see a 58.2 percent increase, while New Jersey’s would rise to slightly more than 60 percent and California would hit 62 percent, according to an analysis by Jared Walczak of the Tax Foundation. In the Big...
  • FAST FIVE: "WHAT THE swear word ! IM OUT": Rapper 50 Cent Melts Down Over Biden-Harris Tax Plan, Endorses Trump(LOTS OF SWEARING)

    10/19/2020 5:51:40 PM PDT · by RomanSoldier19 · 37 replies
    nwostop ^ | October 19, 2020 | nwostop
    IM OUT”: Rapper 50 Cent Melts Down Over Biden-Harris Tax Plan, Endorses Trump Tyler Durden Mon, 10/19/2020 – 19:40 Rapper 50 Cent has taken to Twitter to endorse President Trump after losing his mind over the Biden-Harris tax plan, which would result in a top tax rate of 62% in New York City. (VOTE ForTRUMP) IM OUT,” tweeted the rapper, whose real name is Curtis James Jackson III. “I don't care Trump doesn't like black people 62% are you out of ya swear word mind.” WHAT THE swear word . ;I don't care Trump doesn't like black people 62% are...
  • Biden Renounces Support of Happy Americans [semi-satire]

    10/19/2020 10:35:16 AM PDT · by John Semmens · 2 replies
    Semi-News/Semi-Satire ^ | 18 Oct 2020 | John Semmens
    Apprised of Gallup poll results showing that 56% of voters say they are better off than they were during the Obama Administration's last year, Democratic presidential candidate Joe Biden advised these people "not to vote for me. Such a belief is a warning sign of mental deficiency. These people shouldn't be voting. They'll just muck up the results." "I know polls show that only a third of Americans rated the economy as good or excellent during the Obama years and that nearly two-thirds said this about the Trump years, but to me the Obama years were great years," Biden insisted....
  • Biden’s Left Wing Agenda Will Cost Households Tens of Thousands of Dollars

    10/19/2020 4:50:44 AM PDT · by Kaslin · 9 replies ^ | October 19, 2020 | Grover Norquist
    Joe Biden and Kamala Harris have been working hard to make voters forget the full agenda they have repeatedly touted in appearances, debates, and online. An agenda that we now know would cost Americans $36 trillion over 10 years, according to the new Battleground States 2020 study by the James Madison Institute. Biden and Harris are pretending they don’t support banning fracking. They have vowed 22 times to “eliminate” the Tax Cuts and Jobs Act, while pretending they would not raise taxes on middle income households.  The reason for all this cognitive dissonance? Joe Biden needs the votes of Americans...
  • Mayor Lori Lightfoot considering $94 million property tax increase, more than 300 city worker layoffs and gas tax hike, as part of plan to close $1.2 billion budget gap, sources say

    10/18/2020 9:46:13 PM PDT · by ConservativeStatement · 42 replies
    Chicago Tribune ^ | Oct 18, 2020 | Gregory Pratt and John Byrne
    Chicago Mayor Lori Lightfoot is considering a $94 million property tax increase, layoffs for more than 300 city workers and a gas tax hike as part of her plan to close a $1.2 billion budget deficit, sources told the Tribune. Lightfoot also is considering about $500 million in refinancing city debt to help close the deficit, sources said.
  • Joe Biden’s Gun Agenda Could Cost AR-15 Owners $3.6 Billion in Taxes for Guns They Already Own

    10/18/2020 1:31:35 AM PDT · by knighthawk · 28 replies
    Breitbart ^ | October 17 2020 | AWR HAWKINS
    Democrat presidential nominee Joe Biden’s proposed gun control policy includes a provision that could require every AR-15 rifle be registered under the National Firearms Act of 1934. Unless there were some form of carve-out, this could mandate that American gun owners pay a $200 federal tax per AR-15 that they own. The National Rifle Association’s Andrew Arulanandam told Breitbart News that the current “low end” estimate of privately-owned AR-15s in the United States is 18 million. A tax of $200 on 18 million AR-15s means that gun owners could potentially be required to a pay a collective $3.6 billion in...
  • SHOCKER: ABC’s Jonathan Karl Fact-Checks Biden Campaign on Taxes

    10/13/2020 8:25:34 AM PDT · by JV3MRC · 15 replies
    NewsBusters ^ | 10/13/2020 | Joseph Vazquez
    Insufferable ABC News chief Washington correspondent Jonathan Karl actually took the time to fact-check a claim by Democratic presidential nominee Joe Biden that “[n]obody making under $400,000 bucks would have their taxes raised” under his proposed tax plan. Talk about a twilight-zone moment. During the October 11, edition of ABC This Week with George Stephanopoulos, Karl grilled Biden campaign co-chair Rep. Cedric Richmond (D-LA) on Biden’s promises to only raise taxes on the rich. Karl questioned: “[Biden] has said that he will not raise taxes on anybody making less than $400,000 a year. But the analysis put forward by the...
  • The Median Household Will Pay More under Biden-Harris Tax Plan

    10/13/2020 5:26:50 AM PDT · by karpov · 6 replies
    National Review ^ | October 13, 2020 | Joseph W. Sullivan
    No one can doubt that Joe Biden plans to raise taxes on households earning over $400,000. The question is how the Biden-Harris tax plan, if implemented, would affect households earning less than $400,000. On cue, during last Wednesday’s debate, Senator Harris and Vice President Biden sparred over the subject. The answer? Most households would face a tax increase under the Biden-Harris tax plan. In fact, as the chart shows, unless your household income is less than $45,600, there is more than a 90 percent chance that the Biden-Harris plan, if enacted, will raise your taxes. In the exact middle of...
  • San Francisco tax revenue plunge points to resident exodus

    10/12/2020 3:49:44 PM PDT · by dynachrome · 56 replies
    FOX news ^ | 10-9-20 | Brittany De Lea
    San Francisco experienced a 43% year-over-year decline in sales tax revenues during the pandemic, which has been credited to an exodus from the expensive city. San Francisco’s chief economist Ted Egan attributed the drop in revenue that occurred between April and June to a flight of individuals from the city, rather than a decline in activity due to the pandemic. Egan told Fox News that while areas throughout California experienced a decline in sales tax revenues, other cities saw an uptick in online sales – but San Francisco did not. “In San Francisco, we saw a big drop in brick-and-mortar...
  • Big 3 Ignored Tax Foundation’s Scathing Biden Tax Report Day of Debate

    10/06/2020 10:35:39 AM PDT · by JV3MRC · 6 replies
    NewsBusters ^ | 10/6/2020 | Joseph Vazquez
    You didn’t hear anything about the Tax Foundation decimating the economic credibility of Democratic presidential nominee Joe Biden the day of the first presidential debate. That’s because the Big Three evening news shows ignored it. The Tax Foundation released its analysis September 29, which revealed that Biden’s tax plan “would reduce GDP by 1.47 percent over the long term,” according to its General Equilibrium Model. But that’s not all. It turns out that everyone, not just the rich, is projected to take a hit in after-tax income by 2030 and hundreds of thousands of full-time equivalent jobs will be lost....
  • Biden Vows to Hike Taxes on Middle Class [semi-satire]

    10/04/2020 1:30:43 PM PDT · by John Semmens · 1 replies
    Semi-News/Semi-Satire ^ | 4 October 2020 | John Semmens
    In the summer of 2017, the Trump Administration proposed and the Congress enacted the Tax Cuts and Jobs Act. This legislation cut tax rates in every bracket and ensured higher take-home pay for the working and middle classes. The average family of four saved $2,000 in taxes and 91% in the middle income quintile received a tax cut. The US economy boomed. During this week's debate Democratic presidential candidate Joe Biden told viewers that "I'm going to eliminate the Trump tax cuts. The Republican notion that people have a right to keep more of their hard-earned money is mistaken and...
  • Biden “If you vote for me your taxes are going to be raised, not cut”

    10/03/2020 9:33:31 PM PDT · by Helicondelta · 22 replies
    James Woods ^ | Oct 4, 2020
    “If you vote for me your taxes are going to be raised, not cut.” – Joe Biden
  • Black Entrepreneur Backs Trump [semi-satire]

    10/03/2020 3:36:41 PM PDT · by John Semmens · 2 replies
    Semi-News/Semi-Satire ^ | 4 October 2020 | John Semmens
    Black Entertainment Television founder Robert Johnson says he favors Trump over Biden in the upcoming election. "As a businessman, I will take the devil I know over the devil I don't know anytime," Johnson said. "I absolutely do not know what a President Biden would do. I haven't heard anything coherent from him." Former Vice-President Joe Biden defended his decision to refuse to clarify where he stands, calling it "not my job. No president should have his hands tied prior to being elected. If I were to reveal my plans now that would only stir up needless controversy. It is...
  • The New York Times Is Wrong — Trump Paid Millions in Taxes in 2017

    10/02/2020 11:34:55 AM PDT · by knighthawk · 24 replies
    Breitbart ^ | October 01 2020 | JOHN CARNEY
    The New York Times’ claim that President Donald Trump paid just $750 in federal income taxes in 2016 and 2017 is wrong, based on a flawed understanding of how taxes are paid. The figures below, drawn from the New York Times’s own analysis of Trump’s tax-return data for 2017, show that Trump paid $7,435,857 in taxes in 2017. The Times says the tax return data show that Trump’s earnings were negative for the year, so he owned nothing in regular income taxes. But he was subject to the Alternative Minimum Tax (AMT), a parallel tax system aimed at making sure...
  • Top Republican Calls For Source of Trump’s Tax Documents to Be Investigated For Possible Felony Crime

    10/01/2020 8:40:49 AM PDT · by rustyweiss74 · 13 replies
    MenRec ^ | 10/01/20 | Staff
    Rep. Kevin Brady is calling for an investigation into the source behind the New York Times’ access to President Trump’s tax documents. Brady (R-TX) is the head Republican on the House Ways and Means Committee. He states there is a possibility that “a felony crime was committed by releasing the private tax return information” of the President. “To ensure every American is protected against the illegal release of their tax returns for political reasons, I am calling for an investigation of the source and to prosecute if the law was broken,” Brady announced. The New York Times report, released on...
  • NYT’s Report on Trump’s Stolen Tax Returns Doesn’t Tell the Story Liberals Wanted It To

    10/01/2020 12:18:41 PM PDT · by Kaslin · 20 replies ^ | October 1, 2020 | Julio Gonzales
    There is a massive story about President Trump’s tax returns. It’s that someone committed a federal crime — or at the very least violated one of the basic principles of federal tax law and betrayed their professional duty — by providing an American citizen’s tax returns to journalists. That’s not the story The New York Times wanted to tell — not least because they were passive participants in that crime or ethical breach.The story the Times wanted to tell is the lie that the liberal media have been telling for four years now: massive, undisclosed ties to Russia, secret payoffs, and backroom deals. You...