John Kartch

Hillary Debunks Her Own $250,000 Tax Pledge

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Posted by John Kartch on Monday, October 10th, 2016, 3:47 PM PERMALINK


During the second presidential debate, Hillary Clinton said:

“I have said nobody who makes less than $250,000 a year — and that’s the vast majority of Americans as you know — will have their taxes raised.”

If a candidate for President promises not to raise taxes on middle income Americans, that means the candidate must veto a tax increase should it reach the Oval Office desk, if elected. But Hillary’s own statements indicate she will break this promise:

Payroll tax hike -- When asked if she would break her pledge by signing a payroll tax increase on all Americans if such legislation reached her desk, Clinton confirmed she would break the pledge. These remarks took place in Iowa at a major forum on Jan. 12, 2016. Here’s the key video excerpt:

Moderator: “Democrats have introduced a plan [Family Act] that Senator Sanders supports that you’ve come out against because it is funded by a payroll tax. If that were to reach your desk as President, would you veto it in order to make good on your tax pledge?”

Hillary Clinton: “No. No.”

The payroll tax increase she green-lighted would hit all wages under $118,500.

Yes, you read that correctly. The legislation the moderator referred to is the Family Act, which raises taxes on all wages under $118,500.

Soda tax hike -- Hillary endorsed a steep soda pop tax in Philadelphia. This will cost soda purchasers an extra $2.16 per 12-pack. Bernie Sanders called out Hillary’s violation of her middle class tax pledge. Sanders said:

"Frankly, I am very surprised that Secretary Clinton would support this regressive tax after pledging not to raise taxes on anyone making less than $250,000. This proposal clearly violates her pledge.”

Sanders also said:

“The mechanism here is fairly regressive. And that is, it will be increasing taxes on low-income and working people.”

Obamacare taxes: Clinton has endorsed Obamacare, which has at least seven direct tax hikes on Americans making less than $250,000: the Obamacare individual mandate tax, two tax hikes on flexible spending accounts, two tax hikes on health savings accounts, an income tax increase on Americans facing high medical bills in a given year, and a 10 percent indoor tanning tax which has wiped out thousands of small businesses (mostly owned by women) since its imposition in 2010.

Just a “goal” -- When asked by George Stephanopoulos in December 2015 if her tax pledge was “a rock solid read-my-lips promise” she did not reply with a “yes.”

Instead she replied that it was merely her “goal.” Here’s the exchange:

George Stephanopoulos: “You are also saying no tax increases at all on anyone earning $250,000. Is that a rock solid read-my-lips promise?”

Clinton: “Well, it certainly is my goal. And I’ve laid it out in this campaign. And it’s something that President Obama promised. It’s something my husband certainly tried to achieve. Because I want Americans to know that I get it.”

If she is serious about keeping the promise, the only acceptable answer to Stephanopoulos’ question is “Yes.” Instead she tipped her tax hike hand.

Also note Hillary’s reference to Bill Clinton’s and Barack Obama’s middle class tax pledges: both men broke their pledge upon taking office.

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UN Geneva, http://bit.ly/2e4kzbd

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Dear Hillary: The Tax Code is Already Steeply Progressive

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Posted by John Kartch on Thursday, October 6th, 2016, 2:05 PM PERMALINK


As she crusades for more tax increases, Hillary Clinton conveniently fails to mention how steeply progressive the tax code is right now. According to recent data from CBO:

-The top one percent of households pay 38.3% of federal income taxes and 25.4% of total federal taxes.

- The top 20 percent of households pay 88% of federal income taxes and 69% of total federal taxes.

- The top one percent of households pay an average income tax rate of 23.6% while the middle quintile pays an average income tax rate of 2.6%.

- The top one percent of households pay an average total tax rate of 34% while the middle quintile pays an average total tax rate of over 12.8%.  

- The top 20 percent of households pay an average total tax rate of 26.3 percent while the middle quintile pays an average total tax rate of 12.8%.

The data is shown below:

 

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I love Chickn n Waddymelon

Women Belong in the Kitchen except when fetching Man a Beer !! https://uploads.disquscdn.com/...


Kaine Doesn’t Deny Hillary Wants $1 Trillion Tax Hike

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Posted by Laurens ten Cate, John Kartch on Wednesday, October 5th, 2016, 4:00 PM PERMALINK


Five times last night Mike Pence called out Tim Kaine for Hillary Clinton’s $1 trillion tax hike plan.

Five times, Kaine didn’t deny it. Let’s review:

1. “Hillary Clinton and Tim Kaine want more of the same. It really is remarkable that they actually are advocating a trillion dollars in tax increases, which I get that. You tried to raise taxes here in Virginia and were unsuccessful.”

2. “But a trillion dollars in tax increases, more regulation, more of the same war on coal, and more of Obamacare that now even former President Bill Clinton calls Obamacare a crazy plan.”

3. “Look, what -- what you all just heard out there is more taxes, $2 trillion in more spending, more deficits, more debt, more government.”

4. “The only issue on taxes -- Hillary Clinton is going to raise taxes, and Donald Trump and I are going to cut them."

5. “They’re going to raise your taxes. We're going to cut your taxes." 

Kaine didn’t deny a single statement on taxes made by Pence. Not once did he tell the American public that his intention wasn’t exactly what everyone already knew it was: a massive tax hike on the American people.

Kaine even doubled down on Hillary’s endorsement of a payroll tax increase.

Americans for Tax Reform is tracking all Clinton-Kaine tax hike proposals at HighTaxHillary.com

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Ready for the Clinton-Kaine Payroll Tax Hike?

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Posted by John Kartch on Tuesday, October 4th, 2016, 10:17 PM PERMALINK


Clinton-Kaine poised to raise payroll tax on all Americans if elected

The Hillary Clinton-Tim Kaine ticket has doubled down on a payroll tax hike. Kaine endorsed a payroll tax increase during Tuesday’s debate. He said:

“We have to keep it [Social Security] solvent and will keep it solvent. We will look for strategies like adjusting the payroll tax cap upward in order to do that.”

And:

“We are going to stand up against that push to privatize social security and look for ways to keep it solvent going forward, focusing on the payroll tax.

Hillary Clinton has also given a thumbs up to a payroll tax hike, though it is rarely mentioned in the media. Her remarks took place in Iowa at a major forum on Jan. 12, 2016:

Moderator: “Democrats have introduced a plan that Senator Sanders supports that you’ve come out against because it is funded by a payroll tax. If that were to reach your desk as President, would you veto it in order to make good on your tax pledge?”

Hillary Clinton: “No. No.”

Here is the video clip of the above exchange. The payroll tax increase she green-lighted would hit all wages under $118,500.

So Clinton said she would not veto a payroll tax increase on all Americans should such a bill reach her desk. Didn’t Hillary promise not to sign any tax increase on any American earning less than $250,000? Yes, she did, but she admitted she will break that pledge.

Clinton was against a payroll tax hike before she was for it. In 2008 she criticized her then-opponent Barack Obama for endorsing a payroll tax hike. Here she is on April 16, 2008 during a debate hosted by ABC News:

“I'm certainly against one of Senator Obama's ideas, which is to lift the cap on the payroll tax, because that would impose additional taxes on people who are educators here in the Philadelphia area, or in the suburbs, police officers, firefighters and the like.”

Taxpayers of all income levels should consider themselves warned: If given the chance, a Clinton White House would raise payroll taxes in a heartbeat.

For more information about Clinton-Kaine tax increase plans, visit ATR's dedicated website, HighTaxHillary.com 

 

 

 

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dunespacer

"White Skin Tax"

ippon

someones got to pay for 100s of 1000s of refugees

Deplorable Infidel Rosie

Sure, they'll take your house & place one of the Wonderful Vetted Families there into Your (scratch that)Their new Furnished House. That's how Socialism works.


Taxin’ Tim Kaine Tried to Raise Income Taxes on the Poorest Among Us

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Posted by John Kartch on Monday, October 3rd, 2016, 9:30 AM PERMALINK


If Hillary Clinton running mate Tim Kaine had his way, Virginia residents would today be paying billions in higher taxes. As governor, Kaine sought to impose nearly $4 billion in higher taxes, including an income tax hike on families earning as little as $17,000 a year. He also pushed for higher taxes on distilled spirits and cigarettes.

Income Tax Hike on Working Families: Kaine tried to Increase the bottom tax rate from 5.75% to 6.75%, directly affecting low income families earning as little as $17,000 annually. As noted by Politifact Virginia: “Not everyone at that level would have paid more under Kaine’s plan, but it’s a safe bet that large number of them would have seen their overall tax bill rise.”

Alcohol Tax: Kaine pushed a 2% markup on distilled spirits sold in Virginia’s fully monopolized state-owned retail stores.

By law, Virginia residents and businesses must purchase distilled spirits from the monopoly Alcoholic Beverage Control (ABC) stores. Residents can’t even escape the regime by buying their beverages elsewhere, because Virginia only allows residents to bring home one gallon from another state.

Rather than reform the system, Kaine tried to squeeze more money out of hard working Virginians. He called for a two percent across the board markup, which would have raised the retail price for people shopping in ABC stores as well as those enjoying a beverage in a restaurant. Virginians would have had no choice but to pay the Kaine-imposed markup.

Kaine’s attempted $8 million beverage tax hike was part of his final budget proposal, released Dec. 18, 2009.

Cigarette Tax: Kaine pushed a 60-cents per pack cigarette tax increase on smokers, whose median income was about $40,000 per year.

Kaine’s record in support of tax hikes made him an attractive running mate Hillary, who has proposed a series of tax increases totaling at least $1 trillion over ten years. 

To learn more about Kaine and Clinton’s tax hike records, visit ATR’s dedicated website, HighTaxHillary.com

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Tim Kaine Pushed Adult Beverage Tax Hike

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Posted by John Kartch on Friday, September 30th, 2016, 11:40 AM PERMALINK


Kaine tried to force a two percent markup on all Virginians  shopping in state-run ABC stores  

With Monday's VP debate approaching, the Clinton-Kaine campaign keeps trying to fashion Tim Kaine as an "everyman." But what kind of everyman tries to make your adult beverages more expensive? That's exactly what Kaine did as governor when he pushed an across the board tax hike on beverages sold in Virginia's fully monopolized state-owned retail stores.

By law, Virginia residents and businesses must purchase distilled spirits from the monopoly Alcoholic Beverage Control (ABC) stores. Residents can't even escape the regime by buying their beverages elsewhere, because Virginia only allows residents to bring home one gallon from another state.

Rather than reform the system, Kaine tried to squeeze more money out of hard working Virginians. He called for a two percent across the board markup, which would have raised the retail price for people shopping in ABC stores as well as those enjoying a beverage in a restaurant. Virginians would have had no choice but to pay the Kaine-imposed markup.

Kaine's attempted $8 million beverage tax hike was part of his final budget proposal, released Dec. 18, 2009. Kaine's same budget called for an income tax increase on all Virginians, even those households making $17,000 per year.

"Tim Kaine ran for governor promising not to raise taxes. Days after taking office he released a massive plan to hike taxes by $1 billion," said Grover Norquist, president of Americans for Tax Reform. "Adding insult to injury Kaine wanted to hike the price of spirits. If Kaine's other tax hikes drove you to drink...he got you again."

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Hillary Endorsed a 25% Gun Tax

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Posted by John Kartch on Monday, September 26th, 2016, 2:47 PM PERMALINK


In 1993 Senate testimony Hillary Clinton endorsed a new national 25% retail sales tax on guns. Newly released footage shows her nodding fiercely as gun owners and dealers are described as “purveyors of violence”

 

In passionate Senate testimony on Sept. 30, 1993, Hillary Clinton endorsed a new national 25% retail sales tax on guns. Video footage shows Clinton’s visceral facial expressions as she endorses the gun tax and as gun owners and dealers are described as “purveyors of violence.”

Clinton concluded her gun tax endorsement by saying, "I am speaking personally, but I feel very strongly about that."

The newly released footage is available here and at ATR’swww.HighTaxHillary.com

 

"Hillary has made it perfectly clear to the millions of gun owners in the United States: she doesn't like us, she doesn't trust us and she wants us to go away,"said Grover Norquist, president of Americans for Tax Reform. “The Second Amendment makes it difficult to legally ban guns, but Hillary has led the way to explaining you can achieve the same thing with high taxes.”

In advance of Tuesday’s New York primary, Clinton is relentlessly attacking Bernie Sanders for his 1990s gun votes, bragging that she is to the left of Sanders on gun control. She has yet to face any recent media questioning of her gun tax endorsement, which was reported at the time by the Associated Press, New York Times, Washington Post, and NBC News.

As reported by the AP on Oct. 1, 1993:

Sen. Bill Bradley, D-N.J., picked up Mrs. Clinton's support for his idea of slapping stiff taxes on ''purveyors of violence:'' a 25 percent sales tax on guns and $2,500 license fees for gun dealers.

''Speaking personally ... I'm all for that,'' said the first lady. But she stressed she was just speaking for herself.

''Well, let me say that there is no more important personal endorsement in the country today, and I thank you very much,'' said a pleased-as-punch Bradley.

Here’s the Washington Post on Oct. 1, 1993:

"I'm all for it," she declared in a response to a suggestion by Sen. Bill Bradley (D-N.J.) that the Congress should impose a 25 percent sales tax on handguns to "tax directly the purveyors of violence."

On Sept. 30, 1993, NBC Nightly News reported the incident as follows:

Others urge a hefty sales tax on guns, and much higher fees for gun dealers. Today, they got a powerful ally.

Ms. HILLARY CLINTON: I'm all for that. I just don't know what else we're going to do to try to figure out how to get some handle on this violence.

The Bill Clinton White House made it clear that Hillary's 25 percent gun tax endorsement was hers and hers alone, as shown by the Oct. 1, 1993 White House press briefing transcript:

Q: "Do you know if the President supports the First Lady's endorsement of an idea yesterday by Senator Bradley that there be a 25 percent tax on the sale of guns in America?"

WH Press Secretary Dee Dee Myers: "Well, as you know, she was expressing her opinion."

Clinton’s gun tax endorsement is an especially potent threat considering the recent imposition of gun taxes in Seattle and the U.S. territory of the Northern Marianas Islands.

Seattle’s $25 per gun sales tax – as well as a two to five cent tax per round of ammunition -- went into effect on Jan. 1, 2016 and has already forced one gun dealer out of the city. This week, the Northern Marianas enacted a $1,000 per gun tax.

“Hillary and the Left are now seeking to tax guns out of existence,” said Norquist.

Clinton and Sanders face off in a debate tonight hosted by CNN at the Brooklyn Navy Yard. The state of New York is home to a proud history of gun manufacturing and according to a new report from the National Shooting Sports Foundation, the firearms and ammunition industry employs 7,673 workers in the state.

via GIPHY

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tom2

Didn't the SCOTUS rule that taxing gun sales is a violation of the 2nd Amendment? Regardless, $25 is nothing to the rich but to the impoverished living amid the crime leftists howl about, it may be prohibitive. Seems such a tax would punish those whose needs are the greatest but are least able to afford it.


List of Hillary Tax Hikes

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Posted by John Kartch on Monday, September 26th, 2016, 2:11 PM PERMALINK


Trillion dollar tax hike – Hillary’s tax hike proposals will raise taxes on the American people by over $1,000,000,000,000 over the next ten years, based on her campaign’s own numbers.

Payroll Tax Hike – Hillary said she would not veto a payroll tax increase on all Americans should such a bill reach her desk. She said she would set her middle class tax pledge aside. This took place Jan. 12 in Iowa, and it’s on video:

Moderator: “Democrats have introduced a plan that Senator Sanders supports that you’ve come out against because it is funded by a payroll tax. If that were to reach your desk as President, would you veto it in order to make good on your tax pledge?”

            Hillary Clinton: “No. No.”

Soda Tax Hike – Hillary endorsed a steep new soda pop tax in Philadelphia. This will cost soda purchasers an extra $2.16 per 12-pack. Bernie Sanders called out Hillary’s violation of her middle class tax pledge:

"Frankly, I am very surprised that Secretary Clinton would support this regressive tax after pledging not to raise taxes on anyone making less than $250,000. This proposal clearly violates her pledge," he said.

Sanders also said: “The mechanism here is fairly regressive. And that is, it will be increasing taxes on low-income and working people.”

25% National Gun Tax – Hillary endorsed a new national 25% retail sales tax on guns. “I am all for that,” she told the Senate in 1993. On June 5, 2016 she was asked about her gun tax endorsement by George Stephanopoulos on ABC’s This Week. She acknowledged her gun tax endorsement and did not disavow it, saying she wanted the gun tax money to pay for Hillarycare. If you have any doubts about her strong desire to impose a new gun tax, watch her face in the video.

Doubling of federal excise tax on guns -- Hillary also endorsed a doubling of the existing federal excise tax on guns.

65% Death Tax – Hillary is now pushing a 65% Death Tax. And her own finances are arranged to shield herself from death taxes.

Capital Gains Tax Hike – Hillary has proposed the most complex and Byzantine capital gains tax regime in American history, with ten different rates. She raises the top capital gains tax rate from 23.8% to 43.4%.

No Corporate Income Tax Rate Relief for Anyone – Hillary offers no income tax rate reduction for any business. The USA has the highest corporate income tax in the world, which kills jobs and makes us less competitive. Even Bill Clinton understands the need to cut the corporate rate.

No Personal Income Tax Rate Relief for Anyone – Hillary offers no income tax rate reduction for any American.

Carbon Tax – Hillary’s campaign has opened the door to a carbon tax if she wins the White House. Democrat Senate Leader Chuck Schumer is also fantasizing about a carbon tax under Hillary, and a carbon tax is part of the official 2016 Democrat party platform.

To learn more about Hillary’s tax hike plan, visit ATR’s dedicated website, www.HighTaxHillary.com

 

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JoanieBaloney

Hillary looks like she is so mad during the debate that she is ready to explode like she does on the Secret Service agents that put their lives on the line to protect her.

jim mayer

Clinton Spox 'Go have sex with yourself' ...or something.
MSM calls it a draw? HAH! Who went home after the debate angrier than a hornet's nest sprayed with a garden hose? A draw. The only thing that was a draw was all the BLOOD Mr.T drew from Hillary, Bill, & the Mods.

Finally. A Repub with the stones to call out the 1-sided media bias AND the HillBill corruption factory. A too-late lesson for the Dole/McCain/Romney spineless losers.

Finally, on a Nat'l stage boldly pointing out the Double Standards, & not letting Martha & Andy assist Hillary on stage. Raddatz arguing with Trump over Aleppo was a disgrace. Who does she think she is, Candy Crowley?

Finally a Rep not afraid to use the 'L' word RIGHT TO Hillary's face, ON Nat'l TV! Not afraid to say she oughtta be in jail! The milk I was drinking came out my nostrils on that one. I just witnessed a Massacre. Who was the powerful World Leader in the room? Which of the 2 won't try to fight ISIS with 'Love'? Which was confident & took charge? WHICH ONE WORE THE PANTS IN The...uh, never mind.
They're probably still mopping the blood off the floor. .
.

.

HarryObrian

I wonder if the families of all the dead people allegedly facilitated by the Clintoon Dixie Mafia are feeling slightly vindicated by Trump alleged attacks on the Clintoon?


Hillary in 1993: Let's Double the Gun Tax

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Posted by John Kartch on Tuesday, September 20th, 2016, 5:11 PM PERMALINK


Today Americans for Tax Reform released more evidence of Hillary Clinton’s long held desire to impose new and higher gun taxes. 

ATR's HighTaxHillary.com previously exposed her 1993 endorsement of a new 25 percent national retail sales tax on guns.

But unreported since 1993 is Clinton’s support for a doubling of the current federal excise tax on guns. In a closed-door meeting, she told then-Rep. Mel Reynolds (D-Ill.) that his bill to double the tax was a “great idea."

As reported by the Chicago Tribune on March 19, 1993:

Rep. Mel Reynolds said Thursday that Hillary Rodham Clinton was "very enthusiastic" about his proposal to increase the federal excise tax on guns as a way of raising revenue for health care.

Clinton said "she thought it was a great idea, something she agreed with," the Chicago Democrat reported after a 25-minute meeting with the first lady at his office. 

The article added:

Reynolds proposed legislation last month that would boost the current 10 percent excise tax on handguns and 11 percent tax on all other firearms to 20 percent and 21 percent, respectively.

The bill didn’t go anywhere. But Clinton’s support for a doubling of the gun tax is another disturbing sign of her deep seated hostility to the Second Amendment.

Her disdain is evident in the video footage of her endorsement of a 25 percent national retail sales tax on guns. In sworn congressional testimony, Clinton is seen nodding fiercely as she is asked about it.

Her response: “I am all for that.” 

She added: “I am speaking personally, but I feel very strongly about that.”

 

In her 2016 primary campaign, Clinton relentlessly attacked Bernie Sanders for his 1990s gun votes, staking out a position to the left of Sanders on gun control. Her own 1993 endorsement of the 25 percent national retail sales tax on guns was widely reported at the time.

From the Associated Press on Oct. 1, 1993:

Sen. Bill Bradley, D-N.J., picked up Mrs. Clinton's support for his idea of slapping stiff taxes on ''purveyors of violence:'' a 25 percent sales tax on guns and $2,500 license fees for gun dealers.

''Speaking personally ... I'm all for that,'' said the first lady. But she stressed she was just speaking for herself.

''Well, let me say that there is no more important personal endorsement in the country today, and I thank you very much,'' said a pleased-as-punch Bradley.

Here’s the Washington Post on Oct. 1, 1993:

"I'm all for it," she declared in a response to a suggestion by Sen. Bill Bradley (D-N.J.) that the Congress should impose a 25 percent sales tax on handguns to "tax directly the purveyors of violence."

On Sept. 30, 1993, NBC Nightly News reported the incident as follows:

Others urge a hefty sales tax on guns, and much higher fees for gun dealers. Today, they got a powerful ally.

Ms. HILLARY CLINTON: I'm all for that. I just don't know what else we're going to do to try to figure out how to get some handle on this violence.

The Bill Clinton White House made it clear that Hillary's 25 percent gun tax endorsement was hers and hers alone, as shown by the Oct. 1, 1993 White House press briefing transcript:

Q: "Do you know if the President supports the First Lady's endorsement of an idea yesterday by Senator Bradley that there be a 25 percent tax on the sale of guns in America?"

WH Press Secretary Dee Dee Myers: "Well, as you know, she was expressing her opinion."

Clinton’s gun tax endorsements are especially troubling considering the recent imposition of gun taxes in Seattle, Cook County in Illinois, and the Commonwealth of the Northern Mariana Islands, a U.S. territory.

Seattle imposes a tax of $25 per gun, as well as an ammunition tax of two or five cents per round. The taxes have already driven gun dealers out of the city. Cook County imposes a $25 per gun tax and a one cent to five cent tax per round of ammunition. The Northern Mariana Islands imposes a $1,000 per gun tax. Yes, one thousand dollars per gun. The governor there says the tax should serve as a “role model” for U.S. states.

“Hillary and the Left are now seeking to tax the Second Amendment out of existence,” said Grover Norquist, president of Americans for Tax Reform. "Over the many years, Hillary has endorsed every available effort to limit gun ownership by American citizens through taxes, regulations, and executive orders. One senses a pattern."

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THOUGHTCRIMINAL2084

A 25% "tax" on a Constitutional Right. How much will the "tax" be on the First Amendment?


Serious, Pro-Growth Tax Reform Must Contain 100 Percent Immediate Full Business Expensing

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Posted by John Kartch on Wednesday, August 24th, 2016, 12:12 PM PERMALINK


Clinton plan fails, retains complex depreciation schedules and offers no income tax rate reduction for anyone

Under the tax code, business owners cannot immediately expense the cost of purchasing equipment against their taxable income. Instead, they have to deduct, or “depreciate,” these costs over several years depending on the asset they purchase, as dictated by complex and arbitrary IRS tables.

These rules create needless complexity, and force business owners to make decisions based on tax, not management reasons. Any serious, pro-growth tax reform plan should eliminate depreciation in favor of 100 percent immediate full business expensing, as both the Donald Trump and House Republican plans call for.

With the existing depreciation schedules, business purchases are treated differently under the tax code, with no clear pattern or common theme. Businesses have two different systems of depreciation and investments can be depreciated over 3, 4, 5, 7, 10, 12, 14, 15, 20, 25, 27.5, 30, 35, 39, 40, or 50 years depending on the system used and the asset purchased.  

This creates a complex and confusing system for business owners that distorts business decisions, as the House Republican “Better Way” tax reform blueprint explains:

“For each asset, they must determine the period over which the asset may be depreciated or amortized and the method that must be used to determine the annual allowance with respect to the asset. For many assets, the cost must be spread over many years for tax purposes. This means that businesses are taxed today on the earnings they reinvest in growing their operations and can recover the cost of that investment only many years later.”

Not only would 100 percent immediate full business expensing eliminate needless complexity in our tax code, it would also lead to strong economic growth. According to research by the Tax Foundation, full business expensing would result in 5.4 percent higher long-term GDP, would create more than 1 million full time jobs, and would increase after-tax income by 5.3 percent.

There is clear rationale for policymakers to implement a cash flow system that allows businesses to immediately expense their purchases. This would make the tax code consistent and clear, and stop it from picking winners and losers.

Fortunately, plans released by the Donald Trump presidential campaign and by House Republicans led by Speaker Paul Ryan (R-Wis.) and Ways and Means Chairman Kevin Brady (R-Texas) would both allow 100 percent immediate full business expensing.

The Hillary Clinton plan – a collection of tax increases on the American people topping $1 trillion over ten years – retains the old, job-killing regime of Byzantine depreciation schedules. The Clinton plan also calls for a complex capital gains tax hike, a Death Tax hike, and no income tax rate reduction for anyone.

The fact is, keeping the existing system of depreciation hurts economic growth and adds a confusing and unnecessary layer to the tax code. 100 percent immediate full business expensing should be in any serious pro-growth tax plan, Democrat or Republican.

Americans for Tax Reform is tracking all of Hillary’s tax increase proposals at its dedicated website, www.HighTaxHillary.com

See Also:

Norquist Statement on Clinton Tax Plan

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