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The Post Mortem on Maryland’s Special Tax Hike Session http://t.co/6nFjgjfF
May 18, 2012 04:18 PM
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What Tax Hikes Does Beth Anne Rankin (@BethAnneRankin) Support? http://t.co/dBs5DuV2 #AR04
May 18, 2012 03:23 PM
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What Tax Hikes Does Beth Anne Rankin Support? http://t.co/92cfRfYF
May 18, 2012 03:03 PM
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CoGC: Nanny State Update: Smoke Free Smoking Lounges, Ducking the Truth, Bag Bans and Soda Taxes http://t.co/Nqj3G8c7
May 18, 2012 02:32 PM
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Taxing Facebook to Pay for MySpace http://t.co/SSzTOJvd
May 18, 2012 01:17 PM
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My quick piece in @NRO: Illinois Republicans for Obamacare? http://t.co/5p9KnSi8 ^
May 18, 2012 12:22 PM
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RT @amoylan: @taxreformer No wonder Jeff Fortenberry doesn't stand by tax pledge. http://t.co/55cW7B7B Lifetime @NTU Rating: 61.8%. http ...
May 17, 2012 06:40 PM
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RT @RATECoalition: Check out @taxreformer ‘s take on Robert Rizzi & Jon Sallet’s study on corp #taxes & innovation http://t.co/z ...
May 17, 2012 06:40 PM
RATECoalition -
RT @GarciaCD16: Proud to announce that I have signed the @taxreformer "No New Taxes" Pledge! Taxpayers of #CD16 know I'm on their side! ...
May 17, 2012 06:40 PM
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ATR Rejects Gov. Quinn's Reckless Medicaid "Reform" Proposal http://t.co/554Cxwcp
May 17, 2012 06:32 PM
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ATR Opposes H.R. 4173,
Tax Hikes on Financial Services
ATR President Grover Norquist sent the following letter today to House Financial Services Chairman Barney Frank (D-Mass.):
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Americans for Tax Reform is opposed to H.R. 4173, the “Wall Street Reform and Consumer Protection Act of 2009.” Besides raising the cost of government with onerous new regulations on the financial services sector, H.R. 4173 is a net tax increase.
According to the Congressional Budget Office and the Joint Tax Committee, net tax revenues would increase by $4.9 billion over the 2009-2019 budget window. These tax hikes are the result of new fees assessed on the financial services sector in order to pay for the new regulations on that same sector.
Increasing taxes and regulations on financial services companies will only result in fewer and more expensive financial services offered to the American people. The old maxim, “if you want less of something, tax it more” certainly applies here (and one might also insert “regulate” instead of “tax”).
Raising taxes on vital services needed by everyone—at least everyone who owns a home, has a credit card, or has opened an IRA—is foolish public policy.
