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Arizona Republicans Committed to Preventing Unintended Tax Increase

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Posted by ATR on Friday, May 24th, 2019, 3:56 PM PERMALINK

Arizona Republicans are taking advantage of a unique opportunity to make their state a more attractive place to live and invest and, more importantly, protecting taxpayers across the Grand Canyon State from an income tax hike. 

As an unintended consequence of the federal Tax Cuts and Jobs Act (TCJA) – which significantly reduced individual and corporate income taxes and resulted in 90 percent of wage earners having higher take-home pay and the lowest unemployment in 50 years – Arizonans will be left facing a tax hike at the state level if no actions are taken to prevent it.

Due to the way Arizona’s tax code conforms to the federal tax code, simply conforming to the new federal code would result in a net income tax increase unless lawmakers include provisions to offset it. Fortunately for taxpayers, Republicans in both chambers have remained committed to following the lead of lawmakers in other states, such as Iowa, Georgia, and Michigan, and finding a way to return the conformity revenue back to the taxpayers.

Grover Norquist, president and founder of Americans for Tax Reform, sent lawmakers a letter in support of this efforts. The full text of the letter is pasted below:

May 24, 2019

To: Members of the Arizona Senate

From: Americans for Tax Reform

 

Re: Protect Arizona Taxpayers

Dear Senator,

On behalf of Americans for Tax Reform (ATR) and our supporters across Arizona, I urge you to keep taxpayers in mind as the 2019 legislative session comes to close. Legislation that would result in a net tax increase will be scored as a violation of the Taxpayer Protection Pledge.

As an unintended consequence of the federal Tax Cuts and Jobs Act (TCJA) – which significantly reduced individual and corporate income taxes and has resulted in 90 percent of wage earners having higher take-home pay and unemployment hitting a 50-year low – Arizonans will be left facing a tax increase at the state level if no actions are taken to prevent it.

Due to the way Arizona’s tax code conforms to the federal tax code, simply conforming the state code to the new federal code would result in a net tax increase unless rate reductions or other provisions are included to offset it. Fortunately, legislators in both chambers have remained committed to doing just that by following the lead of lawmakers in other states, such as Iowa and Georgia, and returning this portion of their constituents’ federal tax cut back to them in the form of pro-growth tax reform.

One proposal would both hold taxpayers harmless and make Arizona’s tax code more competitive by collapsing Arizona’s five individual income tax brackets into three, taking the rates from 2.59, 2.88, 3.36, 4.24, and 4.54 down to 2.85, 3.35, and 4.38. Importantly, this proposal would also increase the standard deduction from $5,300 to $12,000 for individual filers and $10,600 to $24,000 for those filing jointly.

The larger standard deduction would expand the zero bracket and ensure that most low-income earners still receive a tax cut.

In addition to preventing an income tax hike, this proposal would make Arizona more conducive to economic growth. A lesser-circulated fact is that many small businesses file under the individual tax code. As such, a lower top individual income tax rate would allow business owners to keep their resources invested in jobs, wages, and businesses operations rather than bloated government spending programs. 

This three-bracket proposal or similar proposals to offset the tax increase that would result from conforming to the federal tax code would be a step in the right direction for Arizona taxpayers and should be supported, so long as all of the tax changes in the bill score as revenue neutral on net at most.

ATR applauds your commitment to using pro-growth tax reform as a way to return the excess revenue that will be collected from conforming Arizona’s tax code to the federal tax code back to taxpayers. Legislation that would result in a net tax increase should be rejected on principle and will be scored as a violation of the Taxpayer Protection Pledge.

 

Sincerely,

Grover Norquist
President
Americans for Tax Reform

Photo Credit: Gage Skidmore/Flickr


List of Buttigieg Tax Hike Proposals

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Posted by ATR on Wednesday, February 5th, 2020, 11:22 AM PERMALINK

Mayor Pete Buttigieg has called for the following tax increases on the American people:

Eliminating the Trump Tax Cuts: Such repeal would significantly raise taxes on middle class households. If Buttigieg repealed the Trump Republican tax cuts:

-A family of four earning the median income of $73,000 would be stuck paying $2,000 more in taxes each and every year.

-A single parent with one child making $41,000 would pay $1,300 more in taxes each and every year.

“The campaign also exclusively provided IndyStar details about how it would pay for the $5.7 trillion in total spending Buttigieg has proposed so far, including the middle-class proposal, largely through a capital gains tax on the top 1% of all earners and through eliminating President Donald Trump's tax cuts,” according to The Indy Star.

Obamacare Individual Mandate Tax: Buttigieg's repeal of the Tax Cuts and Jobs Act means that the much-loathed Obamacare Individual Mandate Tax will return with a vengeance. Most households stuck paying this tax make less than $75,000.

Carbon Tax: A Buttigieg carbon tax would significantly increase household costs such as cooling and heating, transportation, and groceries.

Buttigieg's carbon tax plan is a large, continually ratcheting national energy tax, which would allow congress to raise taxes automatically each year without having to vote. It would require a large bureaucracy to implement and run.

Even Hillary Clinton decided against a carbon tax during her 2016 presidential race. Her campaign's internal policy memo concluded the following:

“As with the increase in energy costs, the increase in the cost of non-energy goods and services would disproportionately impact low income households.”

The "dividend" component of the Buttigieg carbon tax also means that many Social Security recipients will have to pay taxes on their Social Security benefits for the first time. 

Corporate Tax Hike to 35%: Buttigieg wants to raise the 21% corporate tax rate up to 35%. This would give the USA the highest corporate tax rate in the developed world, ruining American competitiveness. A corporate tax increase would also directly raise the cost of utility bills in all 50 states.

Financial Transactions Tax: Pete Buttigieg told CNBC that he is considering a financial transactions tax to pay for his expensive policy proposals:

"We should think about turning to a more equitable use of the estate tax, especially for the biggest and wealthiest estates. I’m interested also — if we could find the right way to implement it and the devil’s in the details — in a financial transactions tax," Buttigieg said.

As noted by Fred Hatfield in The Wall Street Journal, a financial transaction tax would hit the middle class. Joe Biden even admits that the tax would hit middle class Americans. Hatfield noted that Sweden ended up repealing their financial transaction tax “after 50% of its trading volume migrated to London.”

“A new financial transaction tax that would impact investments held by middle class Americans,” Joe Biden said in response to Elizabeth Warren’s Medicare for All plan.

Capital Gains Tax Hike: Buttigieg has said that he would tax capital gains the same way that income is taxed, which would harm Americans’ ability to build a nest egg and hurt the value of their homes, farms, and businesses. If Buttigieg repeals the TCJA, as well as treat capital gains as income, the tax rate would be 39.6%.

Parcel Tax Hike:  In May, Buttigieg joined Los Angeles Mayor Eric Garcetti at a rally hosted by SEIU union bosses to endorse a “parcel tax hike” on homes and businesses, known as Measure EE. Luckily, even the left-leaning residents of the city voted against the tax, and it failed. But it gives you a sense of Buttigieg's high-tax sensibilities and eagerness to appease union bosses at the expense of the people.

To view the many tax hikes being pushed by the 2020 candidates visit www.atr.org/HighTaxDems

 

Photo Credit: Gage Skidmore/Flickr


How the Trump Tax Cuts Have Helped Michigan

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Posted by ATR on Tuesday, January 28th, 2020, 11:42 AM PERMALINK

On Thursday President Trump will be speaking at Dana Incorporated in Warren, Michigan.  Michigan residents are raking in the benefits of the Tax Cuts and Jobs Act, signed into law by Trump.

On Dec. 22, 2017 Trump signed the tax cuts into law. Thanks to the Tax Cuts and Jobs Act:

Tax cut: Every income group in every Michigan congressional district saw a tax cut.

Doubled child tax credit: 642,920 Michigan households are benefiting from the TCJA’s doubling of the child tax credit.

Standard deduction: 3,458,820 Michigan households are benefiting from the TCJA’s doubling of the standard deduction.

Obamacare individual mandate tax relief: 132,750 Michigan households are benefiting from the TCJA’s elimination of the Obamacare individual mandate tax. Most households hit with this tax made less than $50,000 per year.

Lower utility bills: As a direct result of the TCJA’s corporate rate cut, Michiganders are paying lower utility bills. Lower electric, water, and gas bills help households each month, and also help small businesses operating on slim profit margins. Michigan examples of utilities passing on tax savings to customers include – but are not limited to:

Thanks to the TCJA’s corporate tax rate cut – from 35 percent to 21 percent – and the TCJA’s 20 percent tax cut for small businesses, employers of all sizes are hiring, expanding, increasing pay and benefits, and paying special tax-cut bonuses:

The Mitten Brewing Company (Grand Rapids, Michigan) -- Because of the Tax Cuts and Jobs Act, the Michigan Brewery was able to produce new beer, perform new research, hire new employees, give employees pay raises and bonuses:

"It literally put money back into our pockets that we were spending before. We had been producing a bunch of new beers that we have been able to research and develop, and we’ve retained key employees, by giving them bonuses, raises, bringing in new employees," said Max Trierweiler, co-owner of The Mitten Brewing Company.” – Oct. 7, 2019 WZZM13 Article

SpartanNash (Grand Rapids, Michigan) – Bonuses and pay increases:

A locally based grocery store chain plans to re-invest half of its savings from federal tax reform into employee compensation and one of its brands.

David Staples, the CEO of Byron Center-based SpartanNash, which is also a food distributor, said in a conference call to investors yesterday the company will issue bonuses, raise wages and invest in employee training in the first quarter of 2018.

--

SpartanNash spokesperson Meredith Gremel said the company does not plan to disclose the total dollar amount of the bonuses.

The bonus amounts will vary depending on the employee’s position and market, as will the wage increases, Gremel said. She noted those in entry-level roles or just beyond will benefit the most.”— Feb. 23 2018, Grand Rapids Business Journal article excerpts

 Penske Automotive Group. (Bloomfield Hills, Michigan) – Increased 401(k) contributions:

Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today that it has enhanced the company's U.S. 401(k) savings plan by increasing company matching contributions from 1.5% to  2.5% of eligible contributions, representing an increase of 67%.  The increase will provide a recurring, annual benefit to our employees.

"The recently enacted tax reform positively impacts our business, presenting us with even greater opportunities to pursue our strategic initiatives, invest in our employees and improve shareholder value," said Penske Automotive Group Chairman Roger S. Penske – Jan. 31, 2018 Penske Automotive Group press release 

WebHobby Shop, LLC (Pontiac, Michigan) -- $2.00 per hour raise for employees:

“I am sure it seems like 'crumbs' to elitists but I was able to give them a $2 per hour raise because of the tax reform. It was great to do and my staff is very pleased.” – Bruce Zak, Principal, WEBHOBBYSHOP LLC

Stormcloud Brewing Company (Frankfort, Michigan) -- Savings from the Tax Cuts and Jobs Act allowed the company to buy new equipment and hire more employees:

“When the initial tax credit passed, it was an immediate savings for us and we were at a time when our business was continuing to grow, and so we took that opportunity to look at how we could invest in additional equipment, which brought on new employees as well,” said Stormcloud Co-Owner Rick Schmitt.

“We were able to add tank space, which allowed us to increase our distribution footprint, so today we’re in 35 counties in Michigan and likely we wouldn’t be there today if it weren’t for this tax credit,” said Schmitt.-- Oct. 7, 2019 9 & 10 News 

Lakestone Bank & Trust (Lapeer, Michigan) -- Pay raise for hourly employees of $1 per hour; $1,000 bonuses for salaried employees:

Lakestone Bank & Trust announced Friday that employees will benefit from the recently announced tax reform law. 

Bruce J. Cady, chairman and CEO of Lakestone Bank & Trust said, “We are very appreciative of all Lakestone Bank & Trust employees and certainly what they have accomplished over the years, particularly the last year; and we want to commemorate the passing of this historic, economy-stimulating tax reform law. This is a once in a lifetime opportunity and we know we want to reinvest much of the savings back into our bank and the first place we are going to put it is into the hands of our employees. Employees are our most important asset. 

All hourly employees received a $1 per hour raise and all salaried employees will receive a $1,000 bonus. The bank's board of directors overwhelmingly supported this action, resulting in a significant investment into the bank's employees. -- Jan. 28, 2018 The County Press article excerpt

Mill Steel Company (Grand Rapids, Michigan) – $1,000 bonuses for 400 full-time associates:

Mill Steel Co., one of the nation's largest distributors of flat-rolled carbon steel, is pleased to award a $1,000 bonus to all 400 of its full-time associates following the tax cut passed by Congress and signed by President Trump.

Mill Steel announced this morning that all full-time associates across its nine operations nationwide, no matter each individual's seniority, will receive a one-time bonus from the recent tax overhaul that reduces corporate tax rates. – Feb. 8 2018, Mill Steel Company press release excerpt

Renaissance Global Logistics (Detroit, Michigan) – Tax reform bonuses:

“Tax reform helped Renaissance Global Logistics, headquartered in Detroit, give bonuses to my employees. Nancy Pelosi call these bonuses ‘crumbs’ and that’s disrespectful. I would ask Nancy Pelosi to come to Detroit to ask my employees what they thought of the bonuses. As an employer, it was rewarding to be able to give them out. Tax reform gives small businesses like mine the chance to reinvest into our workforce.” – John James, CEO of Renaissance Global Logistics, Feb. 22, 2018 

Cedar Springs Brewing Company (Cedar Springs, Michigan) -- Used savings from the Tax Cuts and Jobs Act to hire new employees and purchase new equipment:

Across the nation, craft beer makers are urging Congress to pass the Craft Beverage Modernization and Tax Reform Act.

The current legislation gives small brewers a 50% reduction of their federal excise tax, but it expires at the end of 2019.

"It was relief for a lot of us," Cedar Springs Brewing Company's Dave Ringler said. "I can speak personally, that gave us a little cash flow ease. It was something we used to hire employees, buy new equipment. It definitely helped out."

The new act would make that tax cut permanent.

"We’re all little guys," Ringler added. "Almost all of us are entrepreneurs that are sole proprietors or small business people, so it really does help Main Street." 

"Small breweries really are the lifeblood of small communities," Ringler added. "It's been a huge part of revitalization in communities not only here in Michigan but nationally." -- Oct. 10, 2019 Fox 17 Article

Land & Co. (Wyoming, Michigan) -- $1,000 bonuses for full-time employees; $500 bonuses for part-time employees; $250 bonuses for seasonal workers:

Land & Co., which operates 19 apartment communities in West Michigan, announced it will give its employees a special bonus of up to $1,000 in response the federal tax cut legislation signed recently by President Donald Trump.

"Land & Co. believes the Trump Tax Cut has generated a more optimistic vision for the future of business in West Michigan and the United States of America and wants their wonderful employees to be a part of and share in that vision," the company said in a statement attributed to its owners, Roger Lucas and Dan Hibma on Monday, Feb. 5.

Land & Co.'s 151 full-time employees will each get $1,000; its 17 part-time workers will get $500 and its nine seasonal workers will each get $250. – Feb. 5, 2018 Mlive.com article excerpt

Haworth Inc. (Holland, Michigan) – $1,000 bonuses for full-time employees, $500 bonuses for part-time employees; bonuses totaling $5 million:

Matt Haworth, chairman of the family-owned company, announced to staff on Wednesday, Jan. 24, that full time employees would receive one-time bonuses of $1,000, and part-timers would collect $500.

More than 4,500 employees who work for Haworth-branded companies around the globe will collect the rare bonus.

--

Matt Haworth says the company is able to make the $5 million investment because of several factors including strong 2017 revenues which will be announced next month and an improved business climate state and nationally. The latter he attributes to a rollback of regulations and taxes, which lower company's operational costs. – Jan. 25, 2018 Grand Rapid News article excerpts

[Click here to view the full list]

Photo Credit: Wikipedia Commons


Warren Dodges Question on Student Loan Debt Forgiveness Plan

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Posted by ATR on Sunday, January 26th, 2020, 4:50 PM PERMALINK

Elizabeth Warren dodged a question about her student loan debt forgiveness plan on Friday morning during a CBS Morning News interview when she was asked what would happen to the middle class families who were responsible and paid their way through college without taking out any student loans.

Here's the key exchange: 

Tony Dokoupil: "Senator, I want to get you on a campaign. I want to get a question to you on a campaign issue. Just last night, there was a video that surfaced. A lot of people are talking about it today. It's a father who approached you at an event and said, you know, it's not fair. I've saved for my daughter's college education. And now you're talking about forgiving and helping out all the people who didn't save for Americans who were in that father's position, who felt they did the right thing. And you're bailing out those who didn't? What's your response?'

Warren: "Look, we build a future going forward by making it better. by that same logic, what would we have done not started social security because we didn't start it last week for you or last month for you? Think of it this way. When I was growing up?, I wanted to be a public school teacher. My family had no money."

Dokoupil: "Are you saying 'tough luck' to these people senator?"

Warren: "So no, what I'm saying is there was a $50 a semester option for me. I was able to go to college and become a public school teacher because America had invested in a $50 a semester."

Watch below:

This isn't Warren's first time misleading the American people or flat out lying to them.

Before Warren released her Medicare for All plan, she dodged the middle class tax question over 20 times and refused to say wheather the middle class would pay more in taxes with her healthcare plan.

In November, Warren released her Medicare for All plan, which she claims to contain no middle class tax increases, which is a lie.

Buried in the footnotes of Warren's Medicare for all plan is a repeal of the Tax Cuts and Jobs Act -- a move that would substantially increase taxes on the middle class.

Warren'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.

 

In Warren's home state of Massachusetts, households making the average income of $77,385 received an average tax cut of around $1,921, according to a recent Tax Foundation report. According to the same report, every congressional district in America received a tax cut.

Still don't believe us? Take it from left-leaning and establishment media outlets who confirm that the Tax Cuts and Jobs Act helped middle class Americans: 

 

If you want to stay up-to-date on Democrats and their threats to raise taxes, visit www.atr.org/HighTaxDems.


Tax Hike Bernie Says "Nobody Knows" How Much Medicare for All Will Cost

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Posted by ATR on Saturday, January 25th, 2020, 4:35 PM PERMALINK

Bernie Sanders said that "nobody knows" how much Medicare for All will cost and that he has no intentions of telling the American people, during a CBS Evening News interview on Friday

 Norah O'Donnell: "Your agenda has promised free health care for everybody free college tuition and to pay off people's college loans. The price tag for that is estimated to be $60 trillion over 10 years, correct?"

 Bernie Sanders: "Well, look We have political opponents"

O'Donnell: "You don't know how much your plan costs?"

Sanders: "You don't know. Nobody knows, this is impossible."

O'Donnell: "You're going to propose a plan to the American people and you're not going to tell them how much it costs? 

Sanders: "Of course I will. Do you know exactly what health care costs will be one minute in the next 10 years if we do nothing? It will be a lot more expensive than a Medicare for all single payer system."

The Sanders government takeover of everything from healthcare to college has one reoccurring theme: Substantial tax increases on all Americans.

During an interview with Steven Colbert in September, Sanders said that he would tax all income over $29,000 "in a progressive way."

You’re going to pay more in taxes,”  Sanders said during a Fox News town hall in Bethlehem, Pennsylvania on April 15 . At the same town hall he said, “Are people going to pay more in taxes? Yes.

On Dec. 16, Sanders told a crowd that "of course" Medicare for All is going to cost Americans something.

And yes, we have to raise individual tax substantially higher than they are today,” Sanders said during an interview with Jake Tapper on July 5, 2015. 

On a separate CNN townhall hosted by Chris Cuomo in Des Moines, Iowa on Jan. 25, 2016, Sanders promised that “yes, we will raise taxes, yes we will.

During another CNN interview, Sanders also claimed that Americans would be “delighted to pay more in taxes.

Joe Biden has consistantly hit Sanders and Elizabeth Warren for their unwaivering support of the plan, saying that "it's totally unrealistic and can't be done."

If you want to stay up-to-date on their threats to raise taxes, visitwww.atr.org/HighTaxDems.


Biden: "Yes" We Should End Fracking

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Posted by ATR on Saturday, January 25th, 2020, 12:24 PM PERMALINK

Joe Biden said that he would end fracking, during an exchange with a New Hampshire voter on Friday.

Voter: "But like, what about, say, stopping fracking?"

Biden: "Yes."

Voter: "And stopping pipeline infrastructure?"

Biden: "Yes."

If elected, Biden's fracking ban will devastate the economies of several battleground states, as noted by Steve Moore in the Wall Street Journal:

Curtailing U.S. oil and gas production would be economically disastrous. At least $1 trillion of U.S. economic output is related to the shale revolution, and more than 1.5 million Americans are employed by the industry. A PricewaterhouseCoopers study for the American Petroleum Institute found that at least four million American jobs are tied to the shale oil and gas revolution in areas like auto production, construction, petroleum engineering, pipe fitting, service stations, steel production and trucking.

Democrats' quest to eliminate these jobs would hurt them in the swing states they'll need to win to unseat President Trump. Ohio and Michigan have a combined total of more than 400,000 workers in the shale industry. Pennsylvania has another 320,000. Colorado and Florida each have more than 200,000 workers in oil and gas.

Pittsburgh has become a global energy hub, and whole towns in Ohio and Pennsylvania that were once left for dead have been revitalized thanks to shale gas and related industries.

Then consider Texas. Liberals have long wanted to turn the Lone Star State blue, or at least purple. But nearly two million Texans are employed in oil and gas and related industries. Many hard-hat workers and truckers employed in the oil-rich Permian Basin earn more than $100,000 a year with overtime. How do you win in and around Houston, Dallas and Midland with a platform that opposes oil and gas?

Biden has shown a consistent hostility to energy industry workers. In December he suggested if coal miners lose their job due to his policies they should learn to code.

Biden has also said “we should put them in jail” when talking about fossil fuel executives.

Biden also endorsed a carbon tax on the American people, which will force households to pay much higher gasoline, heating, and cooling bills. 

 


Iowa Voter Asks Warren "Will I Get My Money Back" On Daughter's Education Under Student Loan Debt Forgiveness

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Posted by ATR on Thursday, January 23rd, 2020, 10:17 PM PERMALINK

A voter in Iowa decided to confront Elizabeth Warren about her student loan debt forgiveness plan and asked "Will I get my money back" on his daughter's education that he had to work double shifts to afford.

Here's the key exchange:

Voter: "I just wanted to ask one question. My daughter is getting out of school. I've saved all my money. She doesn't have any student loans. Am I going to get my money back?" 

Warren: "Of course not."

Voter: "So you're going to pay for people who didn't save any money and those of us who did the right thing get screwed."

Warren: "No, you're not going to get screwed."

Voter: "Of course we do. My buddy had fun, bought a car, went on vacations. I saved my money. He made more than I did. But I worked a double shift, worked extra -- my daughter has worked since she was 10. So, you're laughing."

Warren: "No, I'm not."

Voter: "Yeah, that's exactly what you're doing. We did the right thing, and we get screwed."

If you want to stay up-to-date on their threats to raise taxes, visit www.atr.org/HighTaxDems.


Fact Check: The "Band-Aid" Has Not Been Ripped Off of the Economy, Joe Biden

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Posted by ATR on Wednesday, January 22nd, 2020, 9:29 PM PERMALINK

Joe Biden made a weird claim on MSNBC's Morning Joe that the "Band-Aid has been ripped off" of America's economy.

"It's like the Band-Aid has been ripped off, Joe, by the president's $1.9 trillion tax cut that benefited the very wealthy," Biden said on Wednesday.

Biden's odd "Band-Aid" claim just isn't true, and even left-leaning media outlets have called out Biden's claim as false:

If Biden gets his way and repeals the TCJA, as he has said countless times, Americans will be stuck paying significantly more in taxes. If he and the Democrats repeal the Tax Cuts and Jobs Act, 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, higher than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). 
  • 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.
     

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.

If you want to stay up-to-date on their threats to raise taxes, visit www.atr.org/HighTaxDems.

 

Biden Lies at Town Hall, Claims Trump Tax Cut Only Benefited the "Top 2% of the Nation"

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Posted by ATR on Wednesday, January 22nd, 2020, 12:44 AM PERMALINK

Joe Biden lied at a town hall on Tuesday in Ames, Iowa when he said that the Trump tax cut "only affects the top 2% of the nation."

Watch the Biden video below:

Biden is lying when he says that the Tax Cuts and Jobs Act only affect the "top 2%" of Americans, and even left-leaning and establishment media outlets confirm the good news arising from the Tax Cuts and Jobs Act:

If Biden gets his way and repeals the TCJA, as he has said on numerous occasions, Americans will pay significantly more in taxes. If he and the Democrats repeal the Tax Cuts and Jobs Act, 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, higher than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). 
  • 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.
     

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.

If you want to stay up-to-date on their threats to raise taxes, visit www.atr.org/HighTaxDems.

See more:

Buttigieg Lies About Trump Tax Cuts on MSNBC

Buttigieg Calls for “Wholesale” Rollback of Trump Tax Cuts

CNN: Sanders Would Repeal the Trump Tax Cuts

Warren Falsely Claims Her MFA Plan Will Not Raise Middle Class Taxes by “One Thin Dime”

Biden: Sanders Tax “Doesn’t Even Come Close” to Paying for Medicare for All


Sanders Misleads Voters With Claim He Will Not Raise Middle Class Taxes by "One Nickel"

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Posted by ATR on Wednesday, January 22nd, 2020, 12:15 AM PERMALINK

Bernie Sanders mislead voters when he claimed he would not raise middle class taxes by "one nickel."

"And under our proposal, the top one-tenth of 1% will be paying more in taxes. But 99.9% of Americans will not see their taxes go up by one nickel," Sanders said during a town hall in Las Vegas in September.

It is unclear if Sanders was referring only to his rent control plan (which will certainly impose massive government costs and property rights infringements on homeowners and also hurt tenants) or to his entire policy plan. In any case, Sanders will be picking the pockets of middle class taxpayers. Whether it is the right pocket, left pocket, or back pocket is less interesting.

Sanders supports "Medicare for All" which would raise taxes substantially on middle class Americans. Sanders has proposed a 4% tax on all income over $29,000 in addition to a new tax on employers, which would have an impact on middle class Americans. According to a document from Sanders, the employer tax could be as much as 7%.

Sanders is also considering raising the capital gains tax which would harm Americans’ ability to build a nest egg and hurt the value of their homes, farms, and businesses.

In addition, Sanders plans to repeal the Tax Cuts and Jobs Act, according to CNN, which would force middle class Americans to pay thousands more in taxes.

Sanders'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, higher than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). 
  • 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.
     

If you want to stay up-to-date on Democratic candidates and their threats to raise taxes, visit www.atr.org/HighTaxDems.

See more:

Buttigieg Lies About Trump Tax Cuts on MSNBC

CNN: Sanders Would Repeal the Trump Tax Cuts

Warren Falsely Claims Her MFA Plan Will Not Raise Middle Class Taxes by “One Thin Dime”

Biden: Sanders Tax “Doesn’t Even Come Close” to Paying for Medicare for All


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