Tax Reform ATR believes that all consumed income should be taxed one time, at one low and flat rate. Link
Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
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"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
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Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
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Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
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9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
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.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
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"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
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Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
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The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
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New York Times reporter Jonathan Weisman helped the Democrats' tax-hike agenda in his front-page story Wednesday, "At Fiscal Cliff, Anti-Tax Vow Gets New Look."
Senate Democrats -- holding firm against extending tax cuts for the rich -- are proposing a novel way to circumvent the Republican pledge not to vote for any tax increase: Allow all the tax cuts to expire Jan. 1, then vote on a tax cut for the middle class shortly thereafter.
The proposal illustrates the lengths lawmakers are going to in an effort to include new federal revenues in a fix for the “fiscal cliff,” the reckoning in January that would come when all Bush-era tax cuts expire and automatic spending cuts to military and domestic programs kick in.
Weisman played around with the numbers to suggest Obama's tax hikes wouldn't hurt a bit. [Emphasis added.]
Numerically, Republicans and Democrats are not as far apart as the exchanges would suggest. President Obama has proposed allowing tax cuts to lapse on incomes over $250,000, raising the top two income tax brackets, allowing capital gains tax rates for affluent families to rise slightly and letting dividend income be taxed as ordinary income, as it was before 2003. Of the $5 trillion in tax increases that will ensue over 10 years if nothing is done, Mr. Obama’s plan would stave off all but $849 billion.
That tax increase on the rich would amount to 0.38 percent of the economy, considerably smaller than the tax increase secured by President Bill Clinton in 1993, which equaled 0.63 percent of the economy, according to White House calculations.
Since Weisman left off the actual tax rates on actual taxpayers, here are the specifics: Obama wants to increase the top two tax rates from 33 to 36 percent and from 35 to 39.6 percent, a roughly 10% tax hike. And capital gains tax rates for the wealthy would rise from 15% to 20%, a 33% increase.
This article originally came from the Media Research Center.