Adam Sabes

Kamala Harris: I Will Repeal “That Tax Bill”

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Posted by Adam Sabes on Monday, July 15th, 2019, 4:23 PM PERMALINK

2020 Democratic presidential candidate Kamala Harris said she would repeal the Tax Cuts and Jobs Act if elected president, during a campaign event in Somersworth, New Hampshire on Sunday.

On day one, we’re going to repeal that tax bill that benefitted the top one percent and the biggest corporations in this country,” Harris said, according to a video on Facebook.

Since the start of her campaign, she’s called for repealing the Tax Cuts and Jobs Act at least six times.

“On day one, we are going to repeal that tax bill that benefits the top one percent and the biggest corporations in our country,” Harris said in Gilford, NH on Sunday.

“On day one, we’re going to repeal that tax bill that benefits the top 1% and the biggest corporations in our country,” during a campaign stop in Florence, South Carolina on July 7.

“On day one, we’re going to repeal that tax bill that benefited the top 1% and the biggest corporations in our country,” during a campaign stop in Birmingham, Alabama on June 7.

“On day one, we gonna repeal that tax bill that benefited the top one percent and the biggest corporations in this country,” Harris said during a stop in New Hampshire on May 15.

While Harris was speaking at a NAACP fundraiser in May, she threatened to “get rid of the whole thing,” if elected president.

A promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:

  • A family of four earning the median income of $73,000 would see a $2,000 tax increase.
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.
  • Millions of low and middle income households would be stuck paying the Obamacare individual mandate tax.
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.
  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
  • The USA would have the highest corporate income tax rate in the developed world.
  • Taxes would rise in every state and every congressional district.
  • The Death Tax would ensnare more families and businesses.
  • The AMT would snap back to hit millions of households.
  • Millions of households would see their child tax credit cut in half.
  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.

 

In New Hampshire, where Harris promised to repeal the TCJA, households making the average income, $73,381, received an average tax cut of around $1,435, according to a recent Tax Foundation report. According to the same report, every congressional district in America received a tax cut.

The Washington Post also stated: “Most Americans received a tax cut.”

More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.”

In Harris’s home state of California, the report found that residents received a 27.1% reduction in their taxes, on average. In the state where Harris made the tax hike threat – New Hampshire – residents received a 25.2 percent tax cut on average.

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

 

See also:

Cory Booker: “I do support” Imposing Carbon Tax on Americans

Harris: “We are Going to Repeal That Tax Bill”

Biden: I Will Raise Corporate Tax Rate to 28%

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

Kamala Harris: When I Enter Office "I Will Repeal" the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

Biden: Tax Cuts Will be “Gone” If I’m Elected

Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”


Kamala Harris: “We’ve Got to Increase the Corporate Tax Rate”

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Posted by Adam Sabes on Wednesday, July 17th, 2019, 5:05 PM PERMALINK

Democratic presidential candidate Kamala Harris said the corporate tax rate has “got to” be increased, during a roundtable in Davenport, Iowa, on Tuesday.

[Click here for video]

Harris said:

We’ve got to increase the corporate tax rate.

How high would Harris raise the corporate tax rate? She has repeatedly threatened a full repeal of the GOP-enacted Tax Cuts and Jobs Act. This means a return to a 35% corporate tax rate under a President Kamala Harris.

Get rid of the whole thing,” said Harris on May 6 of the Tax Cuts and Jobs Act, which reduced the corporate rate from 35 to 21 percent.

We need to repeal that tax bill,” Harris said again on Tuesday.

State corporate taxes average 6 percent across the U.S., so the Harris tax hike would give the U.S. a combined average corporate rate of 41 percent.

The Harris tax rate increase would give the U.S. a much higher rate than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). It would impose a tax rate higher than the current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD), which is currently 23.7 percent.

An increase in the corporate tax rate would directly raise the cost of utility bills in all 50 states.


Democrat Steve Bullock Wants to Raise Corporate Tax Rate to 28%

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Posted by Adam Sabes on Wednesday, July 17th, 2019, 3:26 PM PERMALINK

Democratic presidential candidate Steve Bullock told POLITICO reporters and editors Tuesday he wants to raise the corporate tax rate to 28 percent.

But he said he does favor boosting the corporate tax rate to 28 percent from 21 percent,” stated the POLITICO report.

The GOP-enacted Tax Cuts and Jobs Act permanently cut the corporate rate from 35 percent to 21 percent.

State corporate taxes average 6 percent across the U.S, so this Bullock tax hike would give the U.S. an average top corporate rate of 34 percent.

The Bullock 34 percent combined federal-state corporate rate would give the U.S. a much higher rate than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). It would impose a tax rate higher than the current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD), which is currently 23.7 percent.

An increase in the corporate tax rate would also directly raise the cost of utility bills in all 50 states.

"Hiking the tax rate on American businesses will kill jobs, lower wages, and reduce new investment in America," said Grover Norquist, president of Americans for Tax Reform. "Why does Bullock want to damage American competitiveness and job creation?"

Photo Credit: Democratic Governors Association/Flickr


Kamala Harris Calls for Repeal of Tax Cuts Four Times in Three Minutes

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Posted by Adam Sabes on Tuesday, July 16th, 2019, 6:28 PM PERMALINK

In a span of three minutes, Democrat presidential candidate Kamala Harris called for the repeal of the Tax Cuts and Jobs Act four times, during a roundtable event in Davenport, Iowa today.

[Click here for video]

On day one, it is my full intention to repeal that tax bill that passed, representing the top one percent and the biggest corporations in America,” Harris said.

We need to repeal that tax bill,” Harris said.

So, one, it’ll be about repealing that tax bill,” Harris said.

And part of that is going to about repealing that tax bill that they just passed,” Harris said.

Since the start of her campaign, she’s called for repealing the Tax Cuts and Jobs Act at least ten times.

While Harris was speaking at a NAACP fundraiser in May, she threatened to “get rid of the whole thing,” if elected president.

Harris’s promise to repeal the tax cuts is a promise to raise taxes. If Harris repealed the tax cuts, the following would happen:

  • A family of four earning the median income of $73,000 would see a$2,000 tax increase.
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.
  • Millions of low and middle income households would be stuck paying the Obamacare individual mandate tax.
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.
  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
  • The USA would have the highest corporate income tax rate in the developed world.
  • Taxes would rise in every state and every congressional district.
  • The Death Tax would ensnare more families and businesses.
  • The AMT would snap back to hit millions of households.
  • Millions of households would see their child tax credit cut in half.
  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.

 

In Iowa , where Harris promised to repeal the TCJA, households making the average income, $58,570, received an average tax cut of around $1,423, according to a recent Tax Foundation report. According to the same report, every congressional district in America received a tax cut.

The Washington Post also stated: “Most Americans received a tax cut.”

More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.”

In Harris’s home state of California, the report found that residents received a27.1% reduction in their taxes, on average. 

In Iowa - the state where she made the threats to repeal the TCJA - residents received a 24.0% tax cut.

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

See Also:

Julian Castro Caught Lying about GOP Tax Cuts

NYT: Bidencare Will be Funded by “rolling back” GOP tax cuts

Kamala Harris: I Will Repeal “That Tax Bill”

Cory Booker: “I do support” Imposing Carbon Tax on Americans

Harris: “We are Going to Repeal That Tax Bill”

Biden: I Will Raise Corporate Tax Rate to 28%

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

Kamala Harris: When I Enter Office "I Will Repeal" the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

Biden: Tax Cuts Will be “Gone” If I’m Elected

Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”


 


Julian Castro Caught Lying about GOP Tax Cuts

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Posted by Adam Sabes on Tuesday, July 16th, 2019, 1:10 PM PERMALINK

During a CNN interview Monday, Democratic presidential candidate Julian Castro lied about the Tax Cuts and Jobs Act, claiming that they “only benefit the wealthy.”

[Click here for video]

“And he's [Trump] been the worst example of the swamp and of the good ole’ politics of Washington with these tax cuts that only benefit the wealthy,” Castro said on CNN’s New Day with John Berman.

Castro’s statement is incorrect. In fact, CNN's own Jake Tapper did his own fact check on the nature of the “wealthy” claim and concluded: "The facts are, most Americans got a tax cut." 

Tapper also stated: "In fact, estimates from both sides of the political spectrum show that the majority of people in the United States of America did receive a tax cut."

Thanks to the Tax Cuts and Jobs Act:

  • A family of four earning the median income of $73,000 saw a $2,000 tax cut.
  • A single parent (with one child) making $41,000 got a $1,300 tax cut.
  • Millions of low and middle-income households are no longer stuck paying the Obamacare individual mandate tax.
  • Utility bills across all 50 states went down as a direct result of the TCJA’s corporate income tax rate reduction.
  • Small businesses saw a tax decrease because of the 20% deduction for small business income.
  • Taxes went down in every state and every congressional district.

More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.”

In Castro’s home state of Texas, households making the average income of $59,206 saw an average tax cut of around $1,324 according to a recent Tax Foundation report.

In addition, the H&R Block report found that Texans received a 25.6% tax cut on average.

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:


See Also:

NYT: Bidencare Will be Funded by “rolling back” GOP tax cuts

Kamala Harris: I Will Repeal “That Tax Bill”

Cory Booker: “I do support” Imposing Carbon Tax on Americans

Harris: “We are Going to Repeal That Tax Bill”

Biden: I Will Raise Corporate Tax Rate to 28%

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

Kamala Harris: When I Enter Office "I Will Repeal" the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

Biden: Tax Cuts Will be “Gone” If I’m Elected

Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”


NYT: Bidencare Will be Funded by “rolling back” GOP tax cuts

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Posted by Adam Sabes on Tuesday, July 16th, 2019, 12:54 PM PERMALINK

2020 Democratic presidential candidate Joe Biden announced his healthcare plan on Monday, and according to The New York Times, the plan will involve “rolling back” the Tax Cuts and Jobs Act.

As reported by the NYT:

Speaking to reporters on Sunday, officials with Mr. Biden’s campaign said his plan would cost $750 billion over 10 years and would be financed by rolling back the $1.5 trillion tax cut Congress passed last year and doubling the tax rate on capital gains for the wealthiest Americans — those with annual incomes of more than $1 million.

Since the start of his campaign, Biden has vowed to repeal the Tax Cuts and Jobs act at least 12 times.

First thing I’d do is repeal those Trump tax cuts,” said Biden during a campaign stop in Columbia, South Carolina on May 4.

Biden’s promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:

  • A family of four earning the median income of $73,000 would see a$2,000 tax increase.
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.
  • Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax.
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.
  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
  • The USA would have the highest corporate income tax rate in the developed world.
  • Taxes would rise in every state and every congressional district.
  • The Death Tax would ensnare more families and businesses.
  • The AMT would snap back to hit millions of households.
  • Millions of households would see their child tax credit cut in half.
  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.

The Washington Post also stated: “Most Americans received a tax cut.”

More examples of the benefits stemming from the tax cuts are shown in a recent H&R Block report, which states, “overall tax liability is down 24.9 percent on average.” In Biden’s home state of Delaware, the report found that residents received a 24.8% tax cut.

Biden also lied to the American people when he ran for Vice President in 2008 when he repeatedly said he would not support any form of any tax that imposed even “one single penny” of tax increase on anyone making less than $250,000. Biden shattered that promise upon taking office.

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

 

See also:

Kamala Harris: I Will Repeal “That Tax Bill”

Cory Booker: “I do support” Imposing Carbon Tax on Americans

Harris: “We are Going to Repeal That Tax Bill”

Biden: I Will Raise Corporate Tax Rate to 28%

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

Kamala Harris: When I Enter Office "I Will Repeal" the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

Biden: Tax Cuts Will be “Gone” If I’m Elected

Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”

Photo Credit: Barack Obama/Flickr


Cory Booker: “I do support” Imposing Carbon Tax on Americans

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Posted by Adam Sabes on Monday, July 15th, 2019, 3:51 PM PERMALINK

2020 Democratic presidential candidate Cory Booker said that “I do support” a carbon tax during a campaign event in Exeter, New Hampshire on Saturday. 

[Click here to watch] 

“Do you plan to institute a carbon tax and increase emission standards for businesses?,” a person asked the candidate at the event.

 “I don't think we can meet our climate goals with somehow without somehow pricing carbon....but yes, I do support that, okay, Booker responded.

Carbon taxes are so very unpopular with voters. In fact, carbon tax advocates can’t even get a carbon tax passed in a single blue state, as this timeline shows.

Booker’s comment is consistent with what he told the New York Times in April when asked if he supports a “federal carbon tax.”

A federal price on carbon should be one part of a comprehensive response by the federal government to the threat of climate change. The proceeds should be paid out as a dividend in a progressive way that ensures that our climate policies are also reducing inequality and not burdening everyday families.

However, Booker’s carbon tax plan would undoubtedly hurt “everyday americans,” and would require alarge bureaucracy to implement and run.

Most devastating for voters, however, is that it will impose severe tax increases on Social Security recipients.

Because the Booker carbon tax would significantly increase household costs -- cooling and heating, transportation, groceries, etc. – his plan would direct the federal government to send payments to households in an attempt to compensate for the increased cost burden.

But these payments, called a "dividend" by Booker -- are subject to federal income tax. The tax will not only siphon money from households to be sent to Washington -- it will also impact Social Security benefits.

report published by the pro-carbon tax Citizens' Climate Lobby acknowledges the following:

"Taxability of Dividends raises three separate issues: (i) additional complexity for taxpayers; (ii) the equity of the disparate effective marginal tax rates on taxable Dividends for various residents; and (iii) the method or methods by which those taxes would be paid."

Regarding Social Security recipients, the report states:

"Over the income-related phase-in range for the taxation of social security benefits, each additional $1.00 of non-social security income causes an additional $0.50 or $0.85 of social security benefits to become taxable. In most situations, the ordinary income tax rate in the phase-in range is 10 percent; however, at some income levels, the rate is 12 percent. Thus, $1.00 of non-social security income -- including income from the Dividend -- will be taxed at effective marginal rates of 15 percent, 18 percent, or 22.2 percent."

The report gives an example of how the tax would hit a typical couple over age 65 with an income of $38,000 and a Social Security benefit of $12,000:

"Based on that income, the tax rate schedule shows that their marginal tax rate would be 10 percent. However, the addition of $1,584 of taxable Dividends from the Carbon Fee causes more of their social security benefits to become taxable, and their marginal tax rate due to the Dividends is 20.12 percent, so that after paying their income tax, the couple is left with only 79.88 percent of their gross Dividend."

Citizens' Climate Lobby was caught on tape admitting carbon tax cost and complexity is "something that we at CCL can tend to soft-pedal."

It's no wonder 75 conservative groups wrote a letter to congress stating: "We oppose any carbon tax."

Carbon taxes also saddle state and local governments with huge costs. For example, a school district in Calgary was forced to kick 400 kids off the school bus program in order to pay a $3.3 million carbon tax bill.


Harris: “We are Going to Repeal That Tax Bill”

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Posted by Adam Sabes on Monday, July 15th, 2019, 11:15 AM PERMALINK

Kamala Harris said that she would “repeal that tax bill” on “day one” during a campaign event in New Hampshire on Sunday.

[Click here to watch]

On day one, we are going to repeal that tax bill that benefits the top one percent and the biggest corporations in our country,” Harris said in Gilford, NH on Sunday.

Since the start of her campaign, she’s called for repealing the Tax Cuts and Jobs Act at least five times.

“On day one, we’re going to repeal that tax bill that benefits the top 1% and the biggest corporations in our country,” during a campaign stop in Florence, South Carolina on July 7.

“On day one, we’re going to repeal that tax bill that benefited the top 1% and the biggest corporations in our country,” during a campaign stop in Birmingham, Alabama on June 7.

“On day one, we gonna repeal that tax bill that benefited the top one percent and the biggest corporations in this country,” Harris said during a stop in New Hampshire on May 15.

While Harris was speaking at a NAACP fundraiser in May, she threatened to “get rid of the whole thing,” if elected president.

A promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:

  • A family of four earning the median income of $73,000 would see a $2,000 tax increase.

  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.

  • Millions of low and middle income households would be stuck paying the Obamacare individual mandate tax.

  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.

  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.

  • The USA would have the highest corporate income tax rate in the developed world.

  • Taxes would rise in every state and every congressional district.

  • The Death Tax would ensnare more families and businesses.

  • The AMT would snap back to hit millions of households.

  • Millions of households would see their child tax credit cut in half.

  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.

In New Hampshire, where Harris promised to repeal the TCJA, households making the average income, $73,381, received an average tax cut of around $1,435, according to a recent Tax Foundation report. According to the same report, every congressional district in America received a tax cut.

The Washington Post also stated: “Most Americans received a tax cut.”

More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.”

In Harris’s home state of California, the report found that residents received a 27.1% reduction in their taxes, on average. In the state where Harris made the tax hike threat – New Hampshire – residents received a 25.2 percent tax cut on average.

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

See also:

Biden: I Will Raise Corporate Tax Rate to 28%

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

Kamala Harris: When I Enter Office "I Will Repeal" the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

Biden: Tax Cuts Will be “Gone” If I’m Elected

Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”


Biden: I Will Raise Corporate Tax Rate to 28%

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Posted by Adam Sabes on Tuesday, July 9th, 2019, 3:14 PM PERMALINK

Asked by CNN how he would help the middle class, Biden responds with three tax hikes

Joe Biden will raise the U.S. corporate income tax rate to 28 percent if he wins the presidency, he told CNN.

Asked by host Chris Cuomo how he would help the middle class, Biden immediately proposed three tax increases: a personal income tax rate increase, a capital gains tax increase, and a corporate income tax increase:

[Click here to watch]

"Well, three things. One, I do raise the tax rate to 39.5 percent. I do, in fact, eliminate the ability for them to write off capital gains the way they do now. I would raise the -- and raise billions of dollars -- raise the corporate tax rate from 20 percent to 28 percent.”

The Tax Cuts and Jobs Act permanently cut the corporate rate from 35 percent to 21 percent.

The Biden 28 percent rate would give the U.S. a higher rate than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). It would impose a tax rate higher than the current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD), which is currently 23.7 percent.

"Hiking the tax rate on American businesses will kill jobs, lower wages, and reduce new investment in America," said Grover Norquist, president of Americans for Tax Reform. "Why does Biden want to damage American competitiveness and job creation?"

An increase in the corporate tax rate would directly raise the cost of utility bills in all 50 states.

Biden has also repeatedly threatened a full repeal of the Tax Cuts and Jobs Act.

“First thing I’d do is repeal those Trump tax cuts,” said Biden during a campaign stop in Columbia, South Carolina on May 4.

Biden also continues to lie about the tax cuts. The Washington Post gave Biden four pinocchios when he said: “All of it went to folks at the top and corporations.” In its fact check, the Washington Post stated: “Most Americans received a tax cut.”

Even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

See Also: 800 examples of good news arising from the GOP tax cuts


Kamala Harris: "On Day One" I Will Repeal Tax Cuts

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Posted by Adam Sabes on Monday, July 8th, 2019, 4:05 PM PERMALINK

Kamala Harris has again called for the repeal of the Tax Cuts and Jobs act and says she'll do it on "day one" if elected.

[Click here for video]

On day one, we’re going to repeal that tax bill that benefits the top 1% and the biggest corporations in our country,” during a campaign stop in Florence, South Carolina on Sunday.

Since the start of her campaign, she’s called for repealing the TCJA at least four times.

On day one, we’re going to repeal that tax bill that benefited the top 1% and the biggest corporations in our country,” during a campaign stop in Birmingham, Alabama on June 7.

On day one, we gonna repeal that tax bill that benefited the top one percent and the biggest corporations in this country,” Harris said during a stop in New Hampshire on May 15.

While Harris was speaking at a NAACP fundraiser in May, she threatened to “get rid of the whole thing,” if elected president.

A promise to repeal the tax cuts is a promise to raise taxes. If the tax cuts were repealed:

  • A family of four earning the median income of $73,000 would see a $2,000 tax increase.

  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.

  • Millions of low and middle income households would be stuck paying the Obamacare individual mandate tax.

  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.

  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.

  • The USA would have the highest corporate income tax rate in the developed world.

  • Taxes would rise in every state and every congressional district.

  • The Death Tax would ensnare more families and businesses.

  • The AMT would snap back to hit millions of households.

  • Millions of households would see their child tax credit cut in half.

  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.

In South Carolina, where Harris promised to repeal the TCJA, households making the average income, $50,570, received an average tax cut of around $1,341, according to a recent Tax Foundation report. According to the same report, every congressional district in America received a tax cut.

As noted by the New York Times: “Most people got a tax cut.” The NYT also stated: “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.”

The Washington Post also stated: “Most Americans received a tax cut.”

More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.”

In Harris’s home state of California, the report found that residents received a 27.1% reduction in their taxes, on average. In the state where Harris made the tax hike threat – South Carolina – residents received a 23.2 percent tax cut on average.

See also:

Kamala Harris Continues to Lie about Tax Cuts

Jay Inslee: “Repeal the Trump Tax Cuts”

Biden Running Ads to “Repeal Trump’s Tax Cuts.”

VIDEO: Ten Times Biden Threatened to Repeal Tax Cuts

Here’s what happens if Dems repeal tax cuts

VIDEO: 10 Times 2020 Democrats Have Threatened to Repeal TCJA

Kamala Harris: When I Enter Office "I Will Repeal" the TCJA

Biden: “First thing I would do as President is Eliminate the President’s Tax Cut.”

Bernie Sanders claims people would be “delighted to pay more in taxes”

Biden: Tax Cuts Will be “Gone” If I’m Elected

Kamala Harris: I Will Repeal Tax Cuts “on day one”

Biden again says capital gains tax is “Much too Low”

Biden: Capital gains tax “much too low”

VIDEO: Five Times Biden has Threatened to Repeal Tax Cuts

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”


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