Ryan Ellis

ATR Supports Tax Relief for Working Parents


Posted by Ryan Ellis on Tuesday, February 10th, 2015, 1:36 PM PERMALINK


Last week, H.R. 750, the “Family Care Savings Act” was introduced in the U.S. House of Representatives. This legislation will make improvements to dependent care flexible spending accounts (FSAs) and help Americans manage the rising costs of raising a family. ATR endorses this bill and urges members of the House to support this legislation.

H.R. 750, introduced by Representative Patrick McHenry (R- N.C.) and Representative Grace Meng (D- N.Y.) raises the cap on dependent care FSAs from $5,000 to $10,000 and indexes it to inflation after the first year of enactment. These FSAs allow employees to save part of their pre-tax earnings for specific expenses including medical and dependent care. Dependent care FSAs can be used for children under the age of 13, anyone who is physically or mentally unable to care for themselves, or any adult whose care is predominantly paid for by another person.

This legislation will provide a much needed update by increasing the current cap which was set almost 30 years ago when dependent care FSAs were first created in 1986. H.R. 750 will improve dependent care FSAs and help families plan and budget for the expenses of caring for children, disabled spouses, or elderly parents.

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ATR Supports Permanent Small Business Expensing Bill


Posted by Ryan Ellis on Monday, February 9th, 2015, 10:33 AM PERMALINK


This week, the U.S. House of Representatives will vote on H.R. 636, “America’s Small Business Tax Relief Act.” Small businesses are the backbone of the economy and a pathway by which millions achieve the American dream. H.R. 636 will provide important tax relief to small business across the nation. ATR supports this legislation and urges members to vote yes.

H.R. 636, sponsored by Representative Patrick J. Tiberi (R-Ohio) expands and updates Section 179 of the tax code to provide small business owners, farmers and ranchers with regulatory relief that will help reduce the cost of capital and allow them to more easily invest their hard-earned resources back into their businesses.

Specifically, this legislation will make permanent a tax provision allowing small employers to expense up to $500,000 of equipment purchases per year. If current law is not changed, small businesses can only expense $25,000 of purchases for things like computers, office furniture, manufacturing equipment, etc.  The rest must be subject to a slow, multi-year deduction process known as "depreciation."

For many Americans, starting a business is the reward for years of hard work, good decisions and innovative ideas. Each year, millions of Americans across the country invest countless hours, take out loans and enlist the help of friends and family in order to start their own business. This legislation will provide these small business owners with much needed tax relief that will help put them on the pathway to success. 

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Eagle 1

If you own a business and buy a piece of capital, even a car or truck, it is an expense and should not be taxable. Does not matter if the company has 1 or 10000 employees. The law should be evenly applied. You obviously do not understand these things. Learn a little about accounting before you advertise your stupidity for all to see.

JD

Most Americans have to buy a car to go to work, We do not get to write it off...For some reason Grover thinks that whatever a business person needs the tax payers should pay for.......what a joke!!!


ATR Supports Senate GOP Balanced Budget Amendment


Posted by Ryan Ellis on Thursday, February 5th, 2015, 3:23 PM PERMALINK


This week, a Balanced Budget Amendment to the Constitution was introduced in the U.S. Senate. This Balanced Budget Amendment proposal is pro-taxpayer and will help put America on a path towards fiscal responsibility. ATR urges all Senators and Congressmen to support the BBA.

S.J. Res 6 has been cosponsored by all 54 Republican Senators. This common sense proposal will help direct members of Congress towards enacting fiscally responsible policies.

This amendment limits spending to 18 percent of Gross Domestic Product (GDP). Capping spending at 18 percent requires government to live within its means. This strict spending cap is a significant step towards reining in the size of government and will help protect taxpayers from reckless and unnecessary government spending.

Most importantly, this amendment will protect taxpayers from unnecessary and burdensome taxes and instead requires Congress to balance the budget in a responsible way. S.J. Res 6 requires a two-thirds supermajority of members of each House of Congress in order to enact any new tax. However, 48 members of the Senate and 221 members of the House have signed the Taxpayer Protection Pledge, promising their constituents they will not support any proposal that contains a net tax increase. Therefore, the BBA will prevent Congress from balancing the budget using tax hikes and will instead force politicians to address Washington’s rampant spending problem by reducing spending.

S.J. Res 6 will rein in out of control government spending, protect taxpayers and force Congress to live within their means. ATR encourages members of the Senate and House to support the BBA.

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IRS to Steal Tom Brady's Superbowl MVP Truck

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Posted by Ryan Ellis on Wednesday, February 4th, 2015, 12:36 PM PERMALINK


The world champion New England Patriots will celebrate with the city of Boston today in the now customary duck boat parade downtown.  It would be fitting if an IRS agent was waiting for quarterback Tom Brady at the end of the route.

Specifically, he might want to talk about Brady’s new truck.  You know, the 2015 Chevy Colorado he won as Super Bowl MVP. The same truck Brady wants to hand over to Patriots rookie cornerback Malcolm Butler, who won the Super Bowl on a last second interception.

The truck is considered a taxable prize under the Internal Revenue Code, section 74.  It’s taxed at Tom Brady’s marginal income tax rate of 39.6 percent (plus state income tax, but I’ll leave the focus on federal here).

According to TrueCar.com, the fair market value of a 2015 Chevy Colorado is in the neighborhood of $34,000.  This is likely an understatement, since it includes none of the options that Chevy no doubt added to the vehicle.

So Tom Brady will pay ($34,000 x 39.6 percent) in taxes, or $13,500 in income tax on this prize.

But the pain won’t stop there for the greatest quarterback in NFL history.

Don’t Forget About the Gift Tax, Tommy

According to ESPN, Brady has decided to gift the truck to Patriots rookie cornerback Malcolm Butler, who made the game-clinching interception on Sunday night.  This is not a taxable event at all for Butler–gifts are never taxed to the recipient.

Brady is not so lucky.  He’s going to have to pay gift tax on this transaction.  The tax code only allows you to give $14,000 tax free from any one person to any one person before assessing a donor level tax on the gift.

Assuming this will be Brady’s only gift to Butler this year, the transaction sets up a taxable gift for Brady of $20,000 (the $34,000 value of the truck minus the $14,000 gift tax exclusion).  Assuming Brady has made at least $1 million of taxable gifts up to this point in his life (a safe bet), he will owe a 40 percent gift tax on this $20,000 taxable gift.

That’s a $5000 gift tax on top of a $13,500 income tax on the truck, for a combined federal tax hit of $18,500.

That’s over half the value of the truck itself.

What About His Game Check?

Note that the above analysis is only for the federal income tax owed and gift taxes due on the MVP prize.  What about the paycheck Brady collected for winning the Super Bowl?

According to CNBC, the NFL pays a player on a Super Bowl winning team a salary of $97,000 for the game.  Brady doesn’t appear to have any Patriots team bonuses for the game, so this is likely the amount we’re dealing with.

Brady will face income tax at the top rate of 39.6 percent.  In addition, since this is a wage, he will also owe the top Medicare tax of 3.8 percent, half of which will be picked up by the NFL.  Put those together, and Brady will pay $42,000 in federal taxes on the game.

He didn’t get hit that hard by the Legion of Boom Seattle defense, but the IRS is a much bigger foe.

Photo Credit: 
Keith Allison

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marrmae1

BS! Doesn't matter how much he earned, he's the one who earned it, and you and your ilk have no claim to it! Period!

Phitness

Just to be clear: The guy makes $925,000 PER GAME this year, was paid $97,000 just for playing in the Super Bowl (collectively, playoffs paid out $165,000 for each player on winning team), and has a contract salary of $14.800,000 forTHIS YEAR alone....and you're complaining (on his behalf, mind you) about paying $18,500 on a FREE GIFT of $35,000? If Brady was living on food stamps and unemployed I'd hear your argument, but he makes millions, isn't a "job creator" and has never once complained himself about his wealth being taxed (you're doing it for him...which is odd).

Sorry, but where I come from, sharing a little bit of your free lunch while you're at a buffet isn't worth whining about.

Trialkat

Why bother to play hard and win. The more you win the more you lose! End the income tax, repeal the 16th Amendment, replace it all with a simple, visible retail sales tax as in H.R. 25/S. 155 and make winning count again!


ATR Supports Legislation to Prevent the IRS from Targeting Taxpayers Based on Political Ideology


Posted by Ryan Ellis on Tuesday, February 3rd, 2015, 12:03 PM PERMALINK


ATR supports several bills that will protect taxpayers from being targeted by the IRS because of their political beliefs or affiliation. We urge members of the U.S. House of Representatives and U.S. Senate to support this legislation.

The IRS has the power to designate groups as tax-exempt social welfare organizations provided they are primarily engaged in activities to promote the common good and general welfare of society. However their ability to impartially perform this responsibility has been called into question since it was revealed that they had inappropriately targeted conservative social welfare groups for scrutiny.  

S. 273, sponsored by Senator Ted Cruz (R-Texas) and H.R. 599, sponsored by Representative Paul Ryan (R-Wis.) would make it a criminal offense for any IRS employee to willfully discriminate against groups based on their political beliefs or any policy statements made.

S.283, sponsored by Senator Jeff Flake (R-Ariz.) would roll back the IRS standards of definitions for “social welfare organizations” to January 1, 2010. The bill will also suspend any IRS rulemaking in this area until 2017.

These bills will help protect taxpayers from future IRS overreach. In the wake of the IRS targeting conservative groups based solely on their ideology, this legislation is needed now more than ever.

 

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Employee

Please read the following 503(c) rules and tell me how many political groups period fall in this category? Plus what social benefit are they actually providing when they can't even do their jobs on the hill and pass bills? Why does the political organization need to be exempt? I'm sure like all the other laws that are implemented for their benefit this tax exempt status will allow them to not pay taxes anywhere, whether personal, private or for their supposed non-exempt entity. So when questions are asked by the IRS they are just doing their jobs to make this determination.

To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure
to any private shareholder or individual. In addition, it may not be an action
organization, i.e., it may not attempt to influence legislation as a substantial part of its activities and it may not participate in any campaign activity for or against political candidates.

Section 501(c)(3) organizations are restricted in how much political and
legislative (lobbying) activities they may conduct. For a detailed
discussion, see Political and Lobbying Activities. For more information about lobbying activities by charities, see the article Lobbying Issues; for more
information about political activities of charities, see the FY-2002 CPE topic
Election Year Issues.


The Obama Budget's Double Taxation of U.S. Employers

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Posted by Ryan Ellis on Tuesday, February 3rd, 2015, 9:35 AM PERMALINK


President Obama released his FY 2016 budget yesterday. It contains dozens of tax increases that go on for page after page. Buried in there is a series of tax increases on U.S. employers who also do business abroad. Because the U.S. has a "worldwide" tax regime, any further U.S. taxation of overseas income represents a double tax on that income. By definition, these overseas profits have already faced taxation in the country where they were earned. The United States should instead move to a "territorial" tax system, where the IRS only taxes profits earned inside our borders. That's what the rest of the developed world does, and it's time to modernize the code to reflect current best practices.

Unfortunately, the Obama budget moves in the wrong direction in three key ways.

Immediate 14 percent tax on overseas earnings.  U.S. companies who earn money overseas have a problem. They have already paid taxes on these profits in whatever country they earned the money in. But if they try to bring their after-tax profits back to the United States, they face a double tax from the IRS. They have to pay the difference between the U.S. corporate income tax rate (which is over 39 percent when states are--properly--included), and the rate they already paid overseas (the OECD average is under 25 percent).

The Obama budget makes this problem even worse by slapping an immediate 14 percent tax (close to 20 percent when states are included) on all after-tax earnings overseas--whether the money ever comes back to the United States or not.

A much saner strategy would be to make this decision optional and beneficial for companies.  Back in 2005, companies could voluntarily bring back overseas after-tax corporate earnings with a small double tax of 5.25 percent.  When given this choice, over $300 billion came back that year alone.  In the absence of a territorial system, which would have no double taxation at all, U.S. policymakers should give strong consideration to another round of repatriation.

A new global minimum tax of 19 percent. Another provision in the Obama budget would say that companies have to pay a tax rate of 19 percent (really 24 percent when states are included) on their global profits.  This means that companies who do business in countries with the good sense to have low, internationally-competitive corporate income tax rates will be punished. This is a clear case of rich, developed, and bloated countries picking on developing countries in Eastern Europe and elsewhere who are trying to attract capital. American companies are merely being used as a football here.

A real territorial system would not care what the tax rate overseas is, since it would not concern itself with overseas profits. Trying to slap global minimum taxes around the world is a sure recipe for forcing companies out of the United States entirely.  Speaking of that...

New restriction on "corporate inversions."​ President Obama and Congressional Democrats like to rail against "corporate inversions" (when a U.S. company is bought out by a foreign company) in the same way an angry drunk objects to the bruises on his wife's face.  We have the worst corporate income tax system in the world.  We impose the highest marginal income tax rate in the world.  We force our companies to live under a totally insane worldwide tax regime which exposes their profits to all sorts of international double taxation.  We force companies to slowly deduct investments and double tax their equity, yet they can write off debt interest immediately.   It's the opposite of what you want to do if you want to attract jobs and capital to the United States.

​Yet the Obama budget makes it worse.  It changes tax rules so that if 50 percent or more of the shareholders in the acquired company were in the old company, the new business is treated as if it were domestic.  To translate that into English, it exposes these companies to full international double taxation, and potentially causes massive "exit taxes" on companies just trying to comply with a very punitive tax system.

The solution for "corporate inversions" is simple--fix the U.S. tax system so that we're inviting capital and jobs in, rather than pushing them out the door.

See also: 
Obama Budget Creates Second Death Tax

Obama Budget: Highest Cap Gains Tax Since 1997
 

Photo Credit: 
Vivi Barros

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John (magnum)

"The Obama Budget's Double Taxation of U.S. Employers"

Odumbo and the dem-wit party are JOB KILLERS with taxation and excess regulations.

Fewer and fewer makers paying for the Odumbo takers.

This is just a continued attack on the middle class since companys do not actually pay taxes, but passes them along to consumers !

David Addams

Corporations will take very predictable actions in order to avoid these taxes.

The most obvious being to set up a holding corporation in another country and have that company own the corporations in the various countries in which they do business.

The U.S. company would be a subsidiary and would have no ownership rights in the other companies and therefore no claim to those companies' profits.

ToddTexas

The reality is this...businesses don't pay taxes...the people who buy products or use a service from a business pay its taxes. Anytime any tax is levied, we the people pay it...and that's how we should talk about it too.


ATR Supports Bill to Repeal and Replace Obamacare


Posted by Ryan Ellis on Monday, February 2nd, 2015, 4:37 PM PERMALINK


This week, the U.S. House of Representatives will vote on H.R. 596, legislation to repeal and replace Obamacare. ATR supports this bill and urges members to vote yes.

The legislation, introduced by Representative Bradley Byrne (R-Ala.​), will repeal Obamacare 180 days after the law is enacted to allow has time to enact free market reforms that provide American families with lower medical costs, stronger care and protect the doctor-patient relationship.

Put simply, Obamacare has not worked how its supporters have hoped. It has raised the cost of healthcare for millions of Americans, cost countless more their jobs and created thousands of complex and unnecessary regulations. Obamacare also contains dozens of tax increases so repealing the law will reduce the taxes of American families.

Americans deserve a healthcare system that provides them with affordable and efficient care, not one that is overly complex and leads to uncertainty. This legislation will help give Americans the healthcare system that they need and deserve.

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rhzszm

Repeal. Impeach. Lock up in prison.

How did American turn into a country where the "middle class" is dependent on government programs?

fr0thing

Repeal Obamacare now!

Marcus Landon

The "free market" is a God-awful predicate for an effective health care system. Health care SHOULD be a basic civil right enjoyed by every citizen. We should be able find some way to make it affordable, and eliminate the MANY BILLIONS wasted on insurance carriers who do nothing to contribute to better health care. Medical school should be 100% free (paid for by government) for the BEST & BRIGHTEST. Doctors should enjoy special perks, but no M.D. should make more than $1 million a year. If your prime focus is financial reward, do not become a doctor!


ATR Supports Bill Improving 529 College Savings Plans


Posted by Ryan Ellis on Monday, February 2nd, 2015, 3:19 PM PERMALINK


The U.S. House of Representatives will soon vote on H.R. 529, a bill to improve 529 college savings plans. ATR supports this legislation and urges members to vote for it.

529 savings plans help middle class families achieve the American dream. These plans allow parents to invest after-tax earnings into a plan that collects interest, and can later be spent tax-free on their children’s college education. As of 2014, an average of $21,000 has been invested in nearly 12 million accounts.

The proposed legislation, introduced by Representative Lynn Jenkins (R-Kan.), will make several important improvements to 529s. The bill allows computers to be purchased using funds drawn from an account, streamlines the paperwork burden, and allows money withdrawn from a 529 to be redeposited without penalty if a student withdraws from school due to illness or for other personal reasons.

Today, a college education is as important as it has ever been. H.R. 529 will strengthen college savings plans to help ensure that a college education remains an affordable and realistic goal for middle class families.

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Obama Budget Creates Second Death Tax

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Posted by Ryan Ellis on Monday, February 2nd, 2015, 10:41 AM PERMALINK


The Obama budget calls for a stealth increase in the death tax rate from 40% to nearly 60%. Here's how it works:

Under current law, when you inherit an asset your basis in the asset is the higher of the fair market value at the time of death or the decedent's original basis. Almost always, the fair market value is higher.

Under the Obama proposal, when you inherit an asset your basis will simply be the decedent's original basis.

Example: Dad buys a house for $10,000.  He dies and leaves it to you. The fair market value on the date of death is $100,000. You sell it for $120,000. Under current law, you have a capital gain of $20,000 (sales price of $120,000 less step up in basis of $100,000). Under the Obama plan, you have a capital gain of $110,000 (sales price of $120,000 less original basis of $10,000).

There are exemptions for most households, but this misses the larger point: the whole reason we have step up in basis is because we have a death tax. If you are going to hold an estate liable for tax, you can't then hold the estate liable for tax again when the inheritor sells it. This adds yet another redundant layer of tax on savings and investment. It's a huge tax hike on family farms and small businesses.  

It's like a second death tax (the first one has a top tax rate of 40% and a standard deduction of $5.3 million/$10.6 million for surviving spouses). Conceivably, an accumulated capital gain could face a 40% death tax levy and then a 28% capital gains tax on what is left. Do the math, and that's an integrated federal tax of just under 60% on inherited capital gains.

"The national death tax dates to World War I. Most states have abolished their state death tax. They know the death tax is simply yet another layer of taxation on the life savings of Americans," said Grover Norquist, president of Americans for Tax Reform. "Heck, Sweden abolished its death tax a decade ago. The world has learned from failure and moved on. Obama thinks he is being left-wing.  He is just showing his age."
 

See Also: 
Obama Budget: Highest Cap Gains Tax Since 1997

The Obama Budget's Double Taxation of U.S. Employers

Photo Credit: 
GlynLowe.com

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Churchillis1

Death and taxes. The only promise a liberal makes that he can keep. Death and taxes.

Gino Schafer

Then they get to combine 2 of their favorite things into one, a death tax!

John (magnum)

What if 20 Million Illegal Aliens Vacated America ?

Tina Griego, journalist for the Denver Rocky Mountain News wrote a column
titled, "Mexican Visitor's Lament".

I interviewed Mexican journalist Evangelina Hernandez while visiting Denver
last week. Hernandez said, "illegal aliens pay rent, buy groceries, buy
clothes. What Happens to your country's economy if 20 million people go
away?" Hmmm, I thought, what would happen?

So I did my due diligence, buried my nose as a reporter into the FACTS I
found below.

It's a good question it deserves an honest answer. Over 80% of Americans
demand secured borders and illegal migration stopped. But what would happen if
all 20 million or more vacated America ? The answers I found may surprise you!

In California , if 3.5 million illegal aliens moved back to Mexico, it would
leave an extra $10.2 billion to spend on overloaded school systems, bankrupt
hospitals and overrun prisons. It would leave highways cleaner, safer and less
congested. Everyone could understand one another as English became the dominant
language again.

In Colorado , 500,000 illegal migrants, plus their 300,000 kids and
grandchildren would move back 'home', mostly to Mexico ... That would save
Colorado an estimated $2 billion (other experts say $7 billion) annually in
taxes that pay for schooling, medical, social-services and incarceration costs.
It means 12,000 gang members would vanish out of Denver alone.

Colorado would save more than $20 million in prison costs, and the terror
that those 7,300 alien criminals set upon local citizens. Denver Officer Don
Young and hundreds of Colorado victims would not have suffered death,
accidents, rapes and other crimes by illegals.

Denver Public Schools would not suffer a 67% dropout/flunk rate because of
thousands of illegal alien students speaking 41different languages.. At least
200,000 vehicles would vanish from our grid locked cities in Colorado . Denver
's 4% unemployment rate would vanish as our working poor would gain jobs at a
living wage.

In Florida , 1.5 million illegals would return the Sunshine State back to
America , the rule of law, and English.

In Chicago, Illinois , 2.1 million illegals would free up hospitals,
schools, prisons and highways for a safer, cleaner and more crime-free
experience.

If 20 million illegal aliens returned 'home', the U.S. Economy would return
to the rule of law.Employers would hire legal American citizens at a living
wage. Everyone would pay their fair share of taxes because they wouldn't be
working off the books. That would result in an additional $401 Billion in IRS
income taxes collected annually, and an equal amount for local, state and city
coffers.

No more push '1' for Spanish or '2' for English. No more confusion in
American schools that now must contend with over 100 languages that degrade the
educational system for American kids. Our overcrowded schools would lose more
than two million illegal alien kids at a cost of billions in ESL and free
breakfasts and lunches.

We would lose 500,000 illegal criminal alien inmates at a cost of more than
$1.6 billion annually. That includes 15,000 MS-13 gang members who distribute
$130 billion in drugs annually would vacate our country.

In cities like L.A. , 20,000 members of the ' 18th Street Gang' would vanish
from our nation. No more Mexican forgery gangs for ID theft from Americans! No
more foreign rapists and child molesters!

Losing more than 20 million people would clear up our crowded highways and
gridlock. Cleaner air and less drinking and driving American deaths by illegal
aliens!

America 's economy is drained. Taxpayers are harmed. Employers get rich.
Over $80 billion annually wouldn't return to the aliens' home countries by cash
transfers. Illegal migrants earned half that money untaxed, which further
drains America 's economy which currently suffers an $1 7 trillion debt.

At least 400,000 anchor babies would not be born in our country, costing us
$109 billion per year per cycle. At least 86 hospitals in California , Georgia
and Florida would still be operating instead of being bankrupt out of existence
because illegals pay nothing via the EMTOLA Act. Americans wouldn't suffer
thousands of TB and hepatitis cases rampant in our country-brought in by
illegals unscreened at our borders.

Our cities would see 20 million less people driving, polluting and grid
locking our cities. It would also put the 'progressives' on the horns of a
dilemma; illegal aliens and their families cause11% of our greenhouse gases.

Over one million of Mexico's poorest citizens now live inside and along our
border from Brownsville, Texas to San Diego, California in what the New York
Times called, 'colonias' or new neighborhoods. Trouble is, those living areas
resemble Bombay and Calcutta where grinding poverty, filth, diseases, drugs,
crimes, no sanitation and worse.

They live without sewage, clean water, streets, roads, electricity, or any kind
of sanitation.

The New York Times reported them to be America's new ' Third World ' inside
our own country.Within 20 years, at their current growth rate, they expect 20
million residents of those colonias. (I've seen them personally in Texas and
Arizona ; it's sickening beyond anything you can imagine.)

By enforcing our laws, we could repatriate them back to Mexico . We should
invite 20 million aliens to go home, fix their own countries and/or make a
better life in Mexico . We already invite a million people into our country
legally more than all other countries combined annually. We cannot and must not
allow anarchy at our borders, more anarchy within our borders and growing
lawlessness at every level in our nation.

It's time to stand up for our country, our culture, our civilization and our
way of life Interesting Statistics!

Here are 13 reasons illegal aliens should vacate America, and I hope they
are forwarded over and over again until they are read so many times that the
reader gets sick of reading them:

1.. $14 billion to $22 billion dollars are spent each year on welfare to
illegal aliens. (that's Billion with a 'B')

2.. $7.5 billion dollars are spent each year on Medicaid for illegal aliens.

3.. $12 billion dollars are spent each year on primary and secondary school
education for children here illegally and they still cannot speak a word of
English!

4.. $27 billion dollars are spent each year for education for the
American-born children of illegal aliens, known as anchor babies.

5.. $3 Million Dollars 'PER DAY' is spent to incarcerate illegal aliens.
That's $1.2 Billion a year.

6.. 28% percent of all federal prison inmates are illegal aliens.

7.. $190 billion dollars are spent each year on illegal aliens for welfare
& social services by the American taxpayers.

8.. $200 billion dollars per year in suppressed American wages are caused by
the illegal aliens.

9.. The illegal aliens in the United States have a crime rate that's two and
a half times that of white non-illegal aliens. In particular, their children,
are going to make a huge additional crime problem in the US ...

10. During the year 2005, there were 8 to 10 MILLION illegal aliens that
crossed our southern border with as many as 19,500 illegal aliens from other
terrorist countries.Over 10,000 of those were middle-easternterrorists.
Millions of pounds of drugs, cocaine, meth, heroin, crack, Guns, and marijuana
crossed into the U.S. from the southern border.

11. The National Policy Institute, estimates that the total cost of mass
deportation would be between $206 and $230 billion, or an average cost of
between $41 and $46 billion annually over a five year period and nbsp;

12. In 2006, illegal aliens sent home $65 BILLION in remittances back to
their countries of origin, to their families and friends.

13. The dark side of illegal immigration: Nearly one million sex crimes are
committed by illegal immigrants in the United States !

Total cost a whopping $538.3 BILLION DOLLARS A YEAR!!


Obama Budget: Highest Cap Gains Tax Since 1997

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Posted by Ryan Ellis on Monday, February 2nd, 2015, 8:03 AM PERMALINK


President Obama's budget calls for a hike in the capital gains and dividends tax rate from 23.8% today (20% plus 3.8% Obamacare surtax) to 28% (including the Obamacare surtax).

The capital gains tax has not been that high since President Clinton signed a rate cut in 1997.  

It would represent a massive hike in the rate since Obama took office. When he was sworn in, the rate was 15%. He proposes to nearly double it to 28% in the twilight of his administration.

"Bill Clinton signed Republican legislation reducing the capital gains tax from 28% to 20%. The economy strengthened," said Grover Norquist, president of Americans for Tax Reform. "During his presidency Barack Obama has increased the capital gains tax from 15% to 20%, then from 20% to 23.8% and now he wants to increase it again to 28%. As a result Obama's 'recovery' has been the weakest since 1960. Obama has a sluggish economy and a very slow learning curve."

***

See also:

Obama Budget Creates Second Death Tax​ 

The Obama Budget's Double Taxation of U.S. Employers 

Photo Credit: 
Peter Howe

More from Americans for Tax Reform

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Robbie Marciniak

Thanks for more facts Ryan. I love Grover Norquist's letter to Congress about repatriating overseas money and allocating to the Highway Trust Fund. Let's let capital gains drive the economy. They should be treated as a golden goose, not a chicken dinner!

Guest

28% is what Reagan set capital gains rates at in the 1980s and we recovered from Carter years stagflation and the 1982 recession, but when Obama raises the rates to the same number it becomes the sole reason for a slow recovery? I don't buy it


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