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Keyword: taxreform

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  • Shallow Exponent Flat Tax

    10/23/2021 5:03:14 PM PDT · by Kevmo · 52 replies
    Vanity ^ | 10/23/2021 | Kevmo
    For several years I have advocated a Shallow Exponent Flat Tax. Instead of 4 or 5 tiers, there would be only ONE tier that we all face. But the more money you make, your burden goes up slightly higher than as a flat percentage. The tax would look something like: Tax = 10% X {[Income]^1.05} The exponent could be set by congress every 10 years or during wartime. The flat exponent perhaps should be on a longer timeframe for revisiting, because 10% is very easy to do in your head. As you go up higher in income, your tax burden...
  • An end to tax withholding. Putting a stop to tax withholding would end a longstanding injustice and shift more power to the people, where it belongs

    10/19/2021 8:20:46 PM PDT · by SeekAndFind · 12 replies
    American Thinker ^ | 10/19/2021 | Lloyd Billingsley
    Politicians have exploited the pandemic to override the rights of the people, cast themselves as heroes, expand government, and justify vast amounts of spending. Long before the pandemic, mechanisms to justify the government expansion were already in place. Consider, for example, the practice of tax withholding. Before World War II, notes Robert Higgs (Crisis and Leviathan), those Americans who owed federal taxes paid the following year in quarterly installments. That changed as the government geared up for World War II. Milton Friedman, then an economist at the Treasury Department, came up with a system of withholding workers' money from their...
  • States Have Already Picked the Treasury's Pocket with SALT Workarounds

    10/12/2021 7:21:12 AM PDT · by Kaslin · 16 replies
    Townhall.com ^ | October 12, 2021 | Hank Adler
    Before Congress completes consideration regarding either or both mega-infrastructure bills, it needs to determine how it will offset the reduction in federal tax revenues that will occur resulting from the many states’ legislation passed in 2021 to “work around” the state and local tax (SALT) deduction cap of $10,000. It matters not whether each or any member of Congress believes the $10,000 SALT cap is justified and/or unjustified or whether the members of Congress believe the “workarounds” are appropriate. The loss to Treasury could be in the hundreds of billions of dollars. The loss of revenues either needs an offsetting...
  • Democrat Demands Tax Cut for Wealthy Blue States in Infrastructure Bil

    09/07/2021 11:17:38 AM PDT · by chief lee runamok · 14 replies
    breitbart ^ | 09/07/2021 | Sean Moran
    Rep. Thomas Suozzi (D-NY) said Tuesday he would not support the $3.5 trillion infrastructure bill if Democrats would not increase the state and local tax (SALT) deduction, which primarily benefits wealthy Democrat states.
  • Graduated-rate tax amendment rally gets sidetracked by Toni Preckwinkle pitch for Kim Foxx’s reelection

    10/31/2020 9:57:26 AM PDT · by PBRCat · 4 replies
    The Chicago Tribune ^ | October31, 2020 | Rick Pearson
    A virtual rally in support of a proposed constitutional amendment to change Illinois' income tax system to a graduated-rate tax was sidetracked by Cook County President Toni Preckwinkle delivering a lengthy pitch for State’s Attorney Kim Foxx’s reelection. The rally of high-profile Democrats, hosted by the proposed amendment’s chief supporter, Gov. J.B. Pritzker, also featured Lt. Gov. Juliana Stratton alleging amendment opponents were billionaires fighting against “communities of color and women and working-class families all across the state.” But pro-amendment discussion, dubbed the “fair tax” by supporters, gave way when Preckwinkle, the Cook County Democratic Party chair and a strong...
  • 'I purely vote for my actual interests': Black men could be critical bloc in presidential election

    10/27/2020 4:51:26 PM PDT · by 11th_VA · 20 replies
    Yahoo News ^ | Oct 27, 2020 | Marquise Francis
    Karl Williams from Brooklyn, N.Y., believes that Black people have “nothing to win” in this year’s presidential race with either President Trump or former Vice President Joe Biden. “There’s no policy platform being presented that’s going to address any needs of Black men,” Williams, an investor who trades options, said in a video interview with Yahoo News. Despite this conviction, Williams plans to vote for Trump for a second time on Nov. 3. “I support Trump,” said Williams, 34, who describes his reasoning as based solely on the prospect of personal financial gain, since he invests in the stock market....
  • Why On Earth Would You Vote Democrat?

    10/21/2020 12:11:12 PM PDT · by MtnClimber · 53 replies
    American Greatness ^ | 20 Oct, 2020 | Ned Ryun
    The answer should be obvious: you shouldn’t. Not in a million years. I know people who are still trying to decide whether or not to vote for Democrats in this election. As shocking as that might seem, it’s true. And as with any important decision that must be made, an important question to answer before deciding to do it is “Why?” While I know some people simply vote for personalities, let’s assume for sake of argument that some undecided voters are actually thinking people who want to wrestle with what is at stake in this election for them, their families,...
  • Wells Fargo expected to announce massive layoffs Tuesday, many in NC

    10/27/2020 7:08:32 AM PDT · by Rebelbase · 46 replies
    WGHP/Nextar wire ^ | 10/27/20 | Brien Blakely
    CHARLOTTE, N.C. (FOX 46 CHARLOTTE)- Charlotte could be facing a big blow to the banking industry. Wells Fargo is expected to announce major layoffs across the board on Tuesday. Thousands across the entire company could get the pink slip and bank insiders tell WJZY that many of those cuts will happen in the Queen City. More than 27,000 people in the Charlotte area work for Wells Fargo. It’s the city’s second largest employer. In July, the bank’s chief executive said it may need to cut expenses by more than $10 billion as it restructures away from a retail bank.
  • Lil Pump becomes the latest rapper to endorse Trump because he doesn't 'want to pay an extra 33 percent in taxes'

    10/26/2020 6:16:45 PM PDT · by CheshireTheCat · 38 replies
    Daily Mail ^ | October 26, 2020 | Jennifer Smith
    Lil Pump has become the latest rapper to endorse President Trump, telling fans in a foul-mouthed video that he does not want to pay 'an extra 33 percent in taxes' and saying: 'f*** sleepy Joe'. The rapper took to Instagram live on Sunday night, telling his 17million followers : 'Trump 2020! F--- I look like paying an extra 33 in taxes for Biden?' He went on 'f*** sleepy Joe!' before singing off. Later, he shared a photo-shopped image of himself shaking hands with Trump in the Oval Office.
  • BREAKING: Trump Says If Reelected, He Will ‘Cut Middle Class Taxes Even Further’

    10/26/2020 10:00:19 PM PDT · by RandFan · 53 replies
    National File ^ | October 26, 2020 | GABRIEL KEANE
    President Donald Trump said during a stop on the campaign trail Monday that he will double down on his pro-American domestic policy if he is reelected to a second term in office in November’s election, delivering a promise to “cut middle class taxes even further.” The President’s remarks came during a campaign rally in Martinsburg, Pennsylvania, the latest in a series of rallies across the Commonwealth, which is widely viewed as a key battleground state. “And in my second term I will cut middle class taxes even further,” President Trump stated, eliciting uproarious applause from the crowd.
  • Trump Continues to Hurl Monkey Wrenches into the Gears of the Democrats’ Political Machine

    10/26/2020 7:00:38 AM PDT · by Kaslin · 7 replies
    American Thinker.com ^ | October 26, 2020 | William Sullivan
    Going back to (at least) the technocratic and ambitious FDR, American Democrats have believed that federal government eggheads are best suited to manage most things, including mundane things like ensuring healthcare or housing, for everyone. But as a rule, Democrats have always had a very nuanced way of presenting such policies to the American people. In other words, socialists in America have been most successful when they don’t tell Americans that what’s being offered to them is socialism. The old guard of the Democrat party, which Joe Biden represents, has long understood that. The radical Bernie Sanders wing of the...
  • Trump has faced a decade-long tax audit — here’s how long IRS audits usually take and which taxpayers are most likely to get audited

    10/23/2020 11:40:44 AM PDT · by SeekAndFind · 16 replies
    Market Watch ^ | 10/23/2020 | Jacob Passy
    Thousands of Americans see their tax returns audited every year — but it’s safe to say none have seen an audit go on as long as President Donald Trump’s. Since he first launched a run for the White House in 2016, Trump has declined to release his tax returns. One reason he commonly cites as to why he can’t — including during last week’s town hall event on NBC and Thursday night’s presidential debate — is that he is undergoing audit. During the debate, Trump again said that he will release his returns when the audit is finalized. “We made...
  • Democrats In Love With Big Tax Hikes Might Do Well To Remember Walter Mondale

    10/22/2020 10:06:14 AM PDT · by Signalman · 12 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."...
  • ‘Trump does what he says’: Muslims abandon Biden, back president

    10/20/2020 10:06:25 AM PDT · by Red Badger · 44 replies
    www.washingtonexaminer.com ^ | | October 20, 2020 12:17 PM | by Paul Bedard, Washington Secrets Columnist |
    President Trump, whose Middle East plan is winning support from Arab nations, is gaining strong support from Muslim leaders and their followers who believe that the Democrats haven't delivered on years of promises, according to a new survey of Islamic leaders. In a shocking turnaround, 61.48% of the 109 Muslim leaders who “represent two million voters” plan to vote for Trump. That is a slight edge over their 2012 vote for Barack Obama. The survey of the leaders was done by the Washington correspondent for Aksam Gazetesi, a Turkish news site. It suggested that the Muslim leaders' support for former...
  • 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...
  • October 12 The good news they won't tell you

    10/12/2020 7:36:14 AM PDT · by jmaroneps37
    October 12, 2020 | Kevin Collins
    This is a compilation of good news stories. They are presented in the comment section and applicable links are included.
  • Joe Biden Promises To End Traditional 401(k)-Style Retirement Savings Tax Benefits. What’s That Mean?

    10/08/2020 10:38:24 AM PDT · by SJackson · 138 replies
    Forbes ^ | 8-25-20 | Elizabeth Bauer
    Round about a month ago, I took a closer look at Joe Biden’s retirement-related policy proposals, or, more specifically, those of the “Unity Task Force,” which had just released its final document. One of the items in that document and on the Biden campaign website is a promise to “equalize the network of retirement saving tax breaks” — a proposal that generally translates to eliminating the tax advantages currently enjoyed by retirement savings accounts and replacing them with a “credit” or “match.” The idea is that the tax advantages, or “tax expenditures,” as they’re called, disproportionately accrue to relatively higher...
  • ‘Religious Institutions Have Been a Problem’: Andrew Cuomo Threatens to Shut Down Churches, Synagogues

    10/06/2020 6:03:51 PM PDT · by marshmallow · 36 replies
    The Stream ^ | 1/6/20 | Margaret Mary Olahan
    Democratic New York Gov. Andrew Cuomo threatened Monday to close down religious institutions, specifically Jewish synagogues, if they do not follow his coronavirus restrictions. “We know religious institutions have been a problem,” Cuomo said at a Monday press conference. “We know mass gatherings are the super spreader events. We know there have been mass gatherings going on in concert with religious institutions in these communities for weeks. For weeks.” “I don’t mean little violations,” he continued. “I’m talking about, you’re only supposed to have 50 outdoors, they had 1,000.” The governor referred to pictures from “the past couple of weeks,”...
  • IRS Investigating NRA’s Wayne LaPierre for Possible Tax Fraud

    10/05/2020 1:00:47 PM PDT · by Alter Kaker · 45 replies
    WSJ ^ | October 5 2020 | Mark Maremont
    The Internal Revenue Service is investigating longtime National Rifle Association CEO Wayne LaPierre for possible criminal tax fraud related to his personal taxes, according to people familiar with the matter. Mr. LaPierre was paid $2.2 million by the NRA in 2018, the most recent year available, the nonprofit group’s public filings show. His total reported pay from 2014 to 2018 was $11.2 million.
  • Is Tax Law or the MSM the Problem?

    10/05/2020 5:59:03 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | October 5, 2020 | Carol Vance
    Editor's Note: This piece is co-authored by Loyd Pettegrew.  Democrats and their mainstream media (MSM) enablers have been pushing for access to the president’s tax returns before he took office. In a September 27, 2020 salacious front page story, the New York Times screams,  “Long-Concealed Records Show Trump’s Chronic Losses and Years of Tax Avoidance?” The article accuses Trump of being both a billionaire who has failed to pay his fair share of taxes while also claiming he is a failed, deeply indebted businessman. Their schizophrenic analysis is irrational. Under our tax and bankruptcy laws the latter would owe no...