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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
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"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
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Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
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Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
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9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
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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
May 13, 2013 01:01 PM
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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
May 13, 2013 12:30 PM
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Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
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The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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Obama proposes $94 billion energy tax hike in new budget
These taxes will result in higher prices at the pump, increased utility bills, and fewer American jobs as companies cannot recover their investments.
PDF copy of this document
Obama Energy Tax Proposals
The President’s FY 2014 budget contains billions in tax increase on energy production and consumption. These taxes will result in higher prices at the pump, increased utility bills, and fewer American jobs as companies flee the U.S. and companies cannot recover their investments. Below is a breakdown of energy taxes Obama put forth in his 2014-2023 budget:
|
Tax Increase |
FY 2014 |
FY 2014-2023 |
Industry Impact |
|
$60 million |
$1.4 billion |
$1.4 billion |
|
|
$550 million |
$11 billion |
$11 billion |
|
|
$1 billion $113 million |
$10.7 billion $2 billion |
$10.7 billion $2 billion |
|
Repeal Intangible Drilling & Expensing of Exploration Cost for Coal
|
$1.7 billion $25 million |
$11 billion $430 million |
$11 billion $430 million |
|
$1.1 billion $33 million |
$17.4 billion $400 million |
$17.4 billion $400 million |
|
$8 million |
$100 million |
$100 million |
|
|
$1.4 billion |
$20.2 billion |
$10.1 billion |
|
|
$3.5 billion |
$80 billion |
$28.3 billion |
|
|
$7 million |
$74 million |
$74 million |
|
|
$64 million |
$1 billion |
$1 billion |
ATR Recommendation
Allow all employers to deduct all of their business expense in the year they are incurred. In the same budget President Obama argues for full business expensing for small businesses, he looks to lengthen – or eliminate entirely – cost recovery mechanisms for America’s energy producers. This sort of duplicity is not only inequitable, but hamstrings the American economy.
Investment is essential to economic growth. The easiest and fairest way to ensure businesses spend money is to allow them to recoup their expenditures immediately, not depreciate or amortize expenses over arbitrary periods of time. Needlessly tying up capital in strange depreciation tables only exacerbates our current economic morass; yet, this is exactly what President Obama is advocating for.
Posted by Chris Prandoni 
on Wednesday, April 10, 2013 1:24 PM EDT
on Wednesday, April 10, 2013 1:24 PM EDTTo follow Chris Prandoni's RSS feed click here. To follow them on Twitter, their handle is @ChrisPrandoni
