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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


Buttigieg Lies About Trump Tax Cuts on MSNBC

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Posted by ATR on Monday, January 20th, 2020, 1:51 PM PERMALINK

Pete Buttigieg lied about the Tax Cuts and Jobs Act during an interview on MSNBC's Morning Joe on Wednesday, claiming that its benefits only go to the wealthy and corporations.

"As far as I can tell, the only promise that [Trump] has kept when it comes to economic policy was a giant tax cut for corporations and the wealthy," Buttigieg said. 

Buttigieg is wrong, and 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.
     

In Indiana, where Buttigieg is the mayor of South Bend, households who made the state average income of $55,476, received a tax cut of around $1,438.51, according to a recent Tax Foundation report.

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

Buttigieg has also called for a full repeal of the TCJA as part of his "infrastructure" proposal.

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


Buttigieg Calls for “Wholesale” Rollback of Trump Tax Cuts

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Posted by ATR on Sunday, January 19th, 2020, 6:42 PM PERMALINK

Pete Buttigieg called for a “wholesale” rollback of the Tax Cuts and Jobs Act with a “special focus” on the corporate tax during an interview with the New York Times editorial board.

Here’s the key exchange:

NYT editorial board member: On raising taxes, what are your proposals?

Pete Buttigieg: “So a financial transactions tax, rollback wholesale of the Trump tax cuts with a special focus on what’s going on in the corporate-rate tax cut. Close the 199A loophole, deal with some of the enforcement deficiencies that are driving the big part of the revenue gap right now I think. I’m also open to a wealth tax. I just would not put my signature proposal in a position of being completely dependent on a tax that is constitutionally untested.”

Pete Buttigieg first called on repealing the TCJA as part of his “infrastructure” plan, which according to CNBC, would repeal the entire tax cut.

“His campaign said the plan will be paid for by reforming the capital gains tax and repealing the 2017 GOP tax overhaul, reforms that had been previously disclosed. The campaign will also raise the estate tax, with a top rate of 65% for billionaires,” CNBC reported.

Buttigieg’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.

In Indiana, where Buttigieg is the mayor of South Bend, households who made the state average income of $55,476, received a tax cut of around $1,438.51, according to a recent Tax Foundation report.

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

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

See more:

Buttigieg Would Repeal the Entire Trump Tax Cut

Warren Dodges Private Healthcare Question Three Times During Morning Joe Interview

Biden: “Get Rid of the Trump Tax Cut”

Pete Buttigieg: “We Gotta Roll Back the Trump Tax Cuts for Corporations”

Biden: “Anybody Who Can Throw Coal Into a Furnace Can Learn How To Program”

Warren Contradicts Herself on Medicare for All, Again

Mayor Pete’s “Carbon Tax and Dividend” Will Raise Taxes on Social Security Recipients

Booker Praises Opportunity Zones While Planning to Repeal TCJA Which Created Them

Buttigieg Praises Opportunity Zones, Vows to Eliminate TCJA Which Created the Zones in the First Place

Sanders: “Of Course” Medicare for All Will Cost You Something

Despite Steep Tax Hikes, Biden’s Numbers Don’t Add Up

Biden: Capital Gains Tax Rate “Could Go Higher” Than 40%

Biden on Medicare for All: “You’re Going to Have to Raise Taxes on the Middle Class”

Sanders Senior Adviser: “Yes, We Will Repeal the Trump Tax Scam”

Bloomberg Endorsed a Carbon Tax

Biden to Sanders and Warren: “Let’s Get Realistic” on Trillion Dollar Spending Plans

Booker: I Would Raise the Capital Gains Tax Rate

List of Buttigieg Tax Hike Proposals

2020 Dems: Warren's Medicare for All Will Raise Middle Class Taxes

Fact Check: Mark Zandi Misleads Americans, Claims Warren’s Healthcare Plan Will Not Raise Middle Class Taxes

Warren: Medicare for All Covers Illegal Immigrants

Elizabeth Warren Contradicts Herself on Taxes, Again

Biden: Imagine if I Told Elizabeth Warren ‘You Should Be In a Socialist Primary’

CNN Catches Warren in a Tax Lie

Bernie Sanders: Warren’s Medicare for All Plan Would Have “Very Negative Impact” on Jobs and Wages

Warren Claims Americans Making Less Than One Billion Dollars Will “Not Pay a Penny More” in Taxes Under Her Medicare for All Plan

Warren’s “Medicare for All” Repeals Trump Tax Cuts

Biden: Warren is "Making it Up" on How She'll Pay for Medicare For All

Biden: “It’s Impossible to pay for Medicare for All without middle class tax increases”

Biden Slams Medicare for All: “It’s Totally Unrealistic and Can’t be Done”

Warren: Two Million Lost Jobs from Medicare for All “Part of the Cost Issue”

Video Showing Every Time Elizabeth Warren Has Dodged the Middle Class Tax Question

Out of touch Biden calls Trump’s $2,000 middle class tax cut “negligible”

Biden Calls for 28% Corporate Tax Rate

Biden: “Every Single Solitary Person” Will Pay 40% Capital Gains Tax

Warren Dodges the Middle Class Tax Question Again

Buttigieg Says He Will Raise Corporate Tax Rate to 35%

Watch: CNN Analyst Gets Visibly Irritated as Warren Dodges Tax Hike Question

Andrew Yang to Elizabeth Warren: Wealth Tax Would Have “Massive Implementation Problems”

Biden on Warren Dodging Middle Class Tax Question: “This is Ridiculous. Absolutely Ridiculous.”

Buttigieg Grills Warren for Dodging the Middle Class Tax Question

Biden: I Will Raise the Capital Gains Tax to 39.5%

Elizabeth Warren Can’t Stop Dodging the Middle Class Tax Question

VIDEO: 17 Times Elizabeth Warren Has Dodged the Middle Class Tax Question

VIDEO: Warren Keeps Dodging the Middle Class Tax Question

Biden: “I’m Gonna Double the Capital Gains Rate to 40%”

Tax Hike Bernie Says He’ll Tax All Income Over $29K 

Video: Warren Dodges Middle Class Tax Question Again

Biden Calls for Full Repeal of Trump Tax Cuts

Biden Attacks Warren: "She's Going to Raise People's Taxes”

Video: Media Fed Up with Elizabeth Warren Tax Dodge

Biden: End "Trump's Tax Cut for The Top Tenth of One Percent"

Booker: “My plan would reverse those toxic Trump tax cuts”

Stephen Colbert Calls Out Warren for Dodging Middle Class Tax Question

Video: Warren Dodges MSNBC’s Middle Class Tax Questions

Elizabeth Warren is Still Dodging the Middle Class Tax Question

Video: 2020 Democrats Promise Higher Taxes

Biden Caught Lying about GOP Tax Cuts

Bill De Blasio: “As President, I Would Issue a Robot Tax”

Biden Endorses Carbon Tax

Kamala Harris Calls for Ban on Plastic Straws

Elizabeth Warren's Climate Plan Calls For "Reversing" GOP Tax Cuts

Sanders: We’re Going to “Absolutely” Raise the Corporate Tax Rate

Elizabeth Warren on Corporate Tax Cuts: “I really want to see them rolled back.”

Bill de Blasio Calls for Corporate Tax Rate Hike

Amy Klobuchar: Raise the Corporate Tax Rate to 25%

Biden on capital gains tax: “We should raise the tax back to 39.6 percent”

Kamala Harris Threatens to Repeal GOP Tax Cuts 3 Times in August

Joe Biden: “I’m going to eliminate most all” of GOP Tax Cuts

Cory Booker Calls for Repeal of "Toxic" GOP Tax Cuts

Marianne Williamson Joins Dems Calling for TCJA Repeal

Kamala Admits Her Plan Would End Employer Insurance

“Medicare for All” is a Middle Class Tax Increase, Say Dems

Elizabeth Warren Can’t Dodge the Middle Class Tax Question Forever

Dem Socialized Healthcare Plan Will Lead to Middle Class Tax Hikes

Elizabeth Warren "Wealth Tax" was described by the WaPo editorial board as having "a certain authoritarian odor"

Supposed “Moderate” Democrat John Delaney Wants to Impose Carbon Tax on the American People

Klobuchar Suggests Capital Gains Tax Hike and “Doing Something” About TCJA

VIDEO: 2020 Democrats Will Raise Your Taxes

Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by GOP Tax Cuts

Julian Castro: “We’re going to have to raise taxes.”

Biden and Harris: Raise the Corporate Tax Rate

Biden tweet: Ignore the fact I’ve already called for middle class tax hikes

Kamala Harris: “I Will Reverse” Trump’s Tax Cuts

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

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.”

Photo Credit: Gage Skidmore/Flickr


Smiling Pelosi Uses Celebratory Pens to Sign Impeachment Articles

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Posted by ATR on Wednesday, January 15th, 2020, 6:08 PM PERMALINK


Democrat House Speaker Nancy Pelosi used gilded ceremonial pens during her "somber" signing of the impeachment articles. Pelosi had promised not to celebrate but smiled and laughed as she awarded the pens to her Democrat colleagues.

Even CNN described the incident as "jarring" and "unusual."

Photos and video below:

 


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

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Posted by ATR on Tuesday, January 14th, 2020, 10:54 PM PERMALINK

Tonight during the CNN debate Joe Biden told Bernie Sanders that his tax to fund Medicare for All “doesn’t even come close” to paying for the over $40 trillion healthcare plan.

Here’s the key exchange:

Brianne Pfannenstiel: “Vice President Biden, does Senator Sanders owe voters a pricetag on his healthcare plan?” 

Biden: “We need to be candid with voters, I think we have to tell them what we’re going to do and what it will cost. A 4% tax on income over $24,000 doesn't even come close to paying for between $30 and some estimates $40 trillion over ten years. That’s doubling the entire federal budget a year.” 

Biden has previously said that “you’re going to have to raise taxes on the middle class.”

At one point, he even said that the plan is “totally unrealistic and can’t be done.”

To pay for the Medicare for All plan, Sanders has proposed a 4% tax on all income over $23,000, which Biden was referring to. 

Meanwhile Warren has proposed repealing the Tax Cuts and Jobs Act as part of her Medicare for All scheme, which would substantially raise middle class taxes.

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

See more:

Buttigieg Would Repeal the Entire Trump Tax Cut Primary tabs 

Warren Dodges Private Healthcare Question Three Times During Morning Joe Interview

Biden: “Get Rid of the Trump Tax Cut”

Pete Buttigieg: “We Gotta Roll Back the Trump Tax Cuts for Corporations”

Biden: “Anybody Who Can Throw Coal Into a Furnace Can Learn How To Program”

Warren Contradicts Herself on Medicare for All, Again

Mayor Pete’s “Carbon Tax and Dividend” Will Raise Taxes on Social Security Recipients

Booker Praises Opportunity Zones While Planning to Repeal TCJA Which Created Them

Buttigieg Praises Opportunity Zones, Vows to Eliminate TCJA Which Created the Zones in the First Place

Sanders: “Of Course” Medicare for All Will Cost You Something

Despite Steep Tax Hikes, Biden’s Numbers Don’t Add Up

Biden: Capital Gains Tax Rate “Could Go Higher” Than 40%

Biden on Medicare for All: “You’re Going to Have to Raise Taxes on the Middle Class”

Sanders Senior Adviser: “Yes, We Will Repeal the Trump Tax Scam”

Bloomberg Endorsed a Carbon Tax

Biden to Sanders and Warren: “Let’s Get Realistic” on Trillion Dollar Spending Plans

Booker: I Would Raise the Capital Gains Tax Rate

List of Buttigieg Tax Hike Proposals

2020 Dems: Warren's Medicare for All Will Raise Middle Class Taxes

Fact Check: Mark Zandi Misleads Americans, Claims Warren’s Healthcare Plan Will Not Raise Middle Class Taxes

Warren: Medicare for All Covers Illegal Immigrants

Elizabeth Warren Contradicts Herself on Taxes, Again

Biden: Imagine if I Told Elizabeth Warren ‘You Should Be In a Socialist Primary’

CNN Catches Warren in a Tax Lie

Bernie Sanders: Warren’s Medicare for All Plan Would Have “Very Negative Impact” on Jobs and Wages

Warren Claims Americans Making Less Than One Billion Dollars Will “Not Pay a Penny More” in Taxes Under Her Medicare for All Plan

Warren’s “Medicare for All” Repeals Trump Tax Cuts

Biden: Warren is "Making it Up" on How She'll Pay for Medicare For All

Biden: “It’s Impossible to pay for Medicare for All without middle class tax increases”

Biden Slams Medicare for All: “It’s Totally Unrealistic and Can’t be Done”

Warren: Two Million Lost Jobs from Medicare for All “Part of the Cost Issue”

Video Showing Every Time Elizabeth Warren Has Dodged the Middle Class Tax Question

Out of touch Biden calls Trump’s $2,000 middle class tax cut “negligible”

Biden Calls for 28% Corporate Tax Rate

Biden: “Every Single Solitary Person” Will Pay 40% Capital Gains Tax

Warren Dodges the Middle Class Tax Question Again

Buttigieg Says He Will Raise Corporate Tax Rate to 35%

Watch: CNN Analyst Gets Visibly Irritated as Warren Dodges Tax Hike Question

Andrew Yang to Elizabeth Warren: Wealth Tax Would Have “Massive Implementation Problems”

Biden on Warren Dodging Middle Class Tax Question: “This is Ridiculous. Absolutely Ridiculous.”

Buttigieg Grills Warren for Dodging the Middle Class Tax Question

Biden: I Will Raise the Capital Gains Tax to 39.5%

Elizabeth Warren Can’t Stop Dodging the Middle Class Tax Question

VIDEO: 17 Times Elizabeth Warren Has Dodged the Middle Class Tax Question

VIDEO: Warren Keeps Dodging the Middle Class Tax Question

Biden: “I’m Gonna Double the Capital Gains Rate to 40%”

Tax Hike Bernie Says He’ll Tax All Income Over $29K 

Video: Warren Dodges Middle Class Tax Question Again

Biden Calls for Full Repeal of Trump Tax Cuts

Biden Attacks Warren: "She's Going to Raise People's Taxes”

Video: Media Fed Up with Elizabeth Warren Tax Dodge

Biden: End "Trump's Tax Cut for The Top Tenth of One Percent"

Booker: “My plan would reverse those toxic Trump tax cuts”

Stephen Colbert Calls Out Warren for Dodging Middle Class Tax Question

Video: Warren Dodges MSNBC’s Middle Class Tax Questions

Elizabeth Warren is Still Dodging the Middle Class Tax Question

Video: 2020 Democrats Promise Higher Taxes

Biden Caught Lying about GOP Tax Cuts

Bill De Blasio: “As President, I Would Issue a Robot Tax”

Biden Endorses Carbon Tax

Kamala Harris Calls for Ban on Plastic Straws

Elizabeth Warren's Climate Plan Calls For "Reversing" GOP Tax Cuts

Sanders: We’re Going to “Absolutely” Raise the Corporate Tax Rate

Elizabeth Warren on Corporate Tax Cuts: “I really want to see them rolled back.”

Bill de Blasio Calls for Corporate Tax Rate Hike

Amy Klobuchar: Raise the Corporate Tax Rate to 25%

Biden on capital gains tax: “We should raise the tax back to 39.6 percent”

Kamala Harris Threatens to Repeal GOP Tax Cuts 3 Times in August

Joe Biden: “I’m going to eliminate most all” of GOP Tax Cuts

Cory Booker Calls for Repeal of "Toxic" GOP Tax Cuts

Marianne Williamson Joins Dems Calling for TCJA Repeal

Kamala Admits Her Plan Would End Employer Insurance

“Medicare for All” is a Middle Class Tax Increase, Say Dems

Elizabeth Warren Can’t Dodge the Middle Class Tax Question Forever

Dem Socialized Healthcare Plan Will Lead to Middle Class Tax Hikes

Elizabeth Warren "Wealth Tax" was described by the WaPo editorial board as having "a certain authoritarian odor"

Supposed “Moderate” Democrat John Delaney Wants to Impose Carbon Tax on the American People

Klobuchar Suggests Capital Gains Tax Hike and “Doing Something” About TCJA

VIDEO: 2020 Democrats Will Raise Your Taxes

Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by GOP Tax Cuts

Julian Castro: “We’re going to have to raise taxes.”

Biden and Harris: Raise the Corporate Tax Rate

Biden tweet: Ignore the fact I’ve already called for middle class tax hikes

Kamala Harris: “I Will Reverse” Trump’s Tax Cuts

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

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.”


Warren Doubles Down on Gun Tax

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Posted by ATR on Wednesday, October 2nd, 2019, 4:54 PM PERMALINK

Norquist: “Warren is proposing to dramatically hike the tax on gun ownership and your ability to protect yourself. It is a very high ‘poll tax’ -- a tax so high that it actually cripples the rights of lower income Americans to defend themselves.”

Today at an MSNBC town hall in Nevada, Elizabeth Warren affirmed her plan to impose a steep national gun tax on the American people if elected.

In August, Warren said a goal of her gun tax plan is “to reduce new gun and ammunition sales” through the imposition of a 30 percent federal gun tax and a 50 percent federal ammunition tax.

Under her plan, an American seeking a $400 shotgun to protect their household would face a tax burden of $120, for a total cost of $520.

As noted in a Washington Times op-ed by Americans for Tax Reform’s Emmanuel Sessegnon, the Warren gun tax will disarm the poor:

Who would be unable to buy guns because of the Warren gun tax? Certainly not the oft-mentioned “millionaires and billionaires” she claims to want to stick it to. Many poor households will be unable to afford a gun to protect their home.  

It’s obvious which group Sen. Warren is targeting. Her tax targets those among us who are already the most vulnerable. Many people under the poverty line live in dangerous neighborhoods. While rich liberals like Ms. Warren can afford private security guards, the rest of us need to be able to defend ourselves. 

MSNBC host Craig Melvin today asked Warren: “You’ve also talked about raising taxes on the purchase of guns. Raising taxes on ammunition as well. What’s the thinking there, where would the revenue go. Is part of the thinking perhaps, making guns more expensive might keep guns out of the hands of some people as well?”

Warren acknowledged her gun tax and said it was aimed at “areas that we know historically there’s been gun violence.”

As ATR’s Sessegnon points out in his op-ed, the leading gun tax proponent in congress also has a goal to disarm Americans through taxation:

Meanwhile in Congress, Democrat Danny Davis is sponsoring gun tax legislation. His confiscatory intentions are the same as Ms. Warren’s as shown by a statement he made last year: 

So if rich people can only get firearms then only rich people would be able to pay the price and if that could prevent some people from getting them, I’d want to prevent all people from getting them,” he told The Daily Caller. “But if rich people were willing and would continue to pay the high price, then I’d be happy that we kept the other group from getting them.

Americans for Tax Reform president Grover Norquist said, “Warren is proposing to dramatically hike the tax on gun ownership and your ability to protect yourself. It is a very high ‘poll tax’ -- a tax so high that it actually cripples the rights of lower income Americans to defend themselves.”

See more:

Biden: “I’m Gonna Double the Capital Gains Rate to 40%”

Tax Hike Bernie Says He’ll Tax All Income Over $29K 

Video: Warren Dodges Middle Class Tax Question Again

Biden Calls for Full Repeal of Trump Tax Cuts

Biden Attacks Warren: "She's Going to Raise People's Taxes”

Video: Media Fed Up with Elizabeth Warren Tax Dodge

Biden: End "Trump's Tax Cut for The Top Tenth of One Percent"

Booker: “My plan would reverse those toxic Trump tax cuts”

Stephen Colbert Calls Out Warren for Dodging Middle Class Tax Question

Video: Warren Dodges MSNBC’s Middle Class Tax Questions

Elizabeth Warren is Still Dodging the Middle Class Tax Question

Video: 2020 Democrats Promise Higher Taxes

Biden Caught Lying about GOP Tax Cuts

Bill De Blasio: “As President, I Would Issue a Robot Tax”

Biden Endorses Carbon Tax

Kamala Harris Calls for Ban on Plastic Straws

Elizabeth Warren's Climate Plan Calls For "Reversing" GOP Tax Cuts

Sanders: We’re Going to “Absolutely” Raise the Corporate Tax Rate

Elizabeth Warren on Corporate Tax Cuts: “I really want to see them rolled back.”

Bill de Blasio Calls for Corporate Tax Rate Hike

Amy Klobuchar: Raise the Corporate Tax Rate to 25%

Biden on capital gains tax: “We should raise the tax back to 39.6 percent”

Kamala Harris Threatens to Repeal GOP Tax Cuts 3 Times in August

Joe Biden: “I’m going to eliminate most all” of GOP Tax Cuts

Cory Booker Calls for Repeal of "Toxic" GOP Tax Cuts

Marianne Williamson Joins Dems Calling for TCJA Repeal

Kamala Admits Her Plan Would End Employer Insurance

“Medicare for All” is a Middle Class Tax Increase, Say Dems

Elizabeth Warren Can’t Dodge the Middle Class Tax Question Forever

Dem Socialized Healthcare Plan Will Lead to Middle Class Tax Hikes

Elizabeth Warren "Wealth Tax" was described by the WaPo editorial board as having "a certain authoritarian odor"

Supposed “Moderate” Democrat John Delaney Wants to Impose Carbon Tax on the American People

Klobuchar Suggests Capital Gains Tax Hike and “Doing Something” About TCJA

VIDEO: 2020 Democrats Will Raise Your Taxes

Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by GOP Tax Cuts

Julian Castro: “We’re going to have to raise taxes.”

Biden and Harris: Raise the Corporate Tax Rate

Biden tweet: Ignore the fact I’ve already called for middle class tax hikes

Kamala Harris: “I Will Reverse” Trump’s Tax Cuts

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

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.”

Photo Credit: Gage Skidmore/Flickr


Tax Foundation Statements in Support of Indexing Capital Gains

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Posted by ATR on Wednesday, September 4th, 2019, 1:33 PM PERMALINK

“Capital gains should be indexed to inflation.” – Tax Foundation -- July 29, 2018

“When that inflation is ignored in the taxation process, the investor gets taxed on gains that they didn’t make.” -- Tax Foundation -- July 23, 2018

“Let's get real. Inflation-related gains on the sale of assets are not a real increase in wealth. It's time to index the purchase price of assets for inflation to provide savers some relief from this tax on fictitious income.” – Tax Foundation – March 6, 2018

“It is time to ‘get real’ with capital gains taxes. The purchase price of assets later sold for capital gains or losses continues to *not* be adjusted for inflation.” – Tax Foundation – July 16, 2018

“Under the current tax system, capital gains are not adjusted for inflation, meaning individuals pay tax on income plus any capital gain that results from price-level increases. Inflationary gains do not represent a real increase in wealth, thus taxes on inflationary gains are taxes on ‘fictitious’ income, which increases the effective tax rate on saving and investment.” – Tax Foundation – April 16, 2019

“In other cases, inflation can account for 100 percent of the capital gains tax owed; further, inflation can cause a nominal gain to be realized despite suffering a capital loss in real terms. Ultimately, the lower rate on capital gains does not mitigate the inflation issue, as taxpayers still face tax liability whether they made a real gain or real loss.” – Tax Foundation – April 16, 2019

“Inflation-related gains on the sale of assets are not a real increase in wealth. Indexing the purchase price (tax basis) for inflation would provide savers some relief for this type of tax on fictitious income.” – Tax Foundation – March 6, 2018

“Failure to index the purchase price (tax basis) of assets increases the effective tax rate on saving and investment. Less capital is formed, depressing wages and employment.” – Tax Foundation – March 6, 2018

“Inflation is low today, but that may not always be the case. Indexing provides important protection for all citizens, even those who have no capital gains, by reducing government’s ability and incentive to raise effective tax rates by inflating the currency.” -- Tax Foundation – March 6, 2018

“It is time to ‘get real’ with capital gains taxes. Many elements of the income tax are adjusted for inflation, such as tax brackets, standard deductions, and income thresholds or dollar amounts of some tax credits. However, the purchase price of assets later sold for capital gains or losses is not adjusted for inflation. As a result, inflation can do a real number on savers by turning real losses into taxable nominal gains. To avoid such outcomes, it would make sense for the government to allow an inflation adjustment for the cost of assets held outside of tax-preferred saving arrangements. (In pensions, retirement plans, and education savings plans, the problem is handled by other means, either by tax deferral or by exclusion of tax on gains.)” – Tax Foundation – March 6, 2018

“Some might argue that capital gains receive preferred tax treatment under current law, because the gain is deferred until realized, and it receives a lower tax rate than ordinary income. The lower rate is the ‘capital gains differential,’ which is sometimes rationalized as compensating savers for inflation. However, the capital gain differential does not properly adjust for the excess real tax burden due to inflation. If the nominal gain is really a loss, then even a reduced tax rate is too high. If the gain is in part a real gain, but a small one, then the reduced rate is helpful, but still inadequate. – Tax Foundation – March 6, 2018

“In some instances, the practice of taxing the nominal gain can lead to an infinite effective rate on real capital gains when the increase in price is only due to inflation.” – Tax Foundation – December 17, 2013

“When stocks are bought at particular high points in the market, inflation can account for 100 percent of the capital gains tax owed. In fact, the inflationary increase in price can cause a nominal capital gain for a taxpayer despite suffering a capital loss in real terms.” – Tax Foundation – December 17, 2013

“Taxpayers can end up paying a very high tax rate on capital gains and can even pay taxes on capital gains when the real value of their investment has actually declined. In fact, research from the 1980s showed that taxpayers paid an additional $500 million in extra tax due to inflation in just 1973. Taxes on capital damage economic growth, and failing to account for inflation exacerbates the damage.” -- Tax Foundation – December 17, 2013

“While repealing this tax would be the preferable option, inflation indexing would be an improvement that would link the tax to real increases in income rather than increases in inflation.” -- Tax Foundation – December 17, 2013

“Capital Gains Taxes Should Be Indexed to Inflation” – Tax Foundation – July 24, 2018

 

 

Photo Credit: SalFalko


Elizabeth Warren's "Federal Office of Broadband Access" Will Fail and Send Billions of Taxpayer Dollars Into a Black Hole

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Posted by ATR on Thursday, August 8th, 2019, 5:14 PM PERMALINK

This week Elizabeth Warren called for a taxpayer funded "federal Office of Broadband Access" with "publicly-owned and operated networks."

Warren tweeted:

"Let’s create a federal Office of Broadband Access, and invest $85 billion into making sure every home in America has a broadband connection. That means publicly-owned and operated networks—no giant telecom companies running away with taxpayer dollars."

Are government-run broadband networks an appropriate use of taxpayer resources? No.

As shown in Americans for Tax Reform's newly-released infographic, government-owned broadband networks have an abysmal track record.

Proponents of big government typically sell Government Owned Networks (GONs) as providing competition and additional choices. In reality, however, this nice-sounding idea never works as planned.

In addition to the initial construction cost of building out a basic fiber network, frequent and expensive technology upgrades are necessary in order to remain current in such an innovative field. Government entities rarely consider this fact, however, and thus grossly underestimate the true costs of a GON.

Government entities also overestimate the demand for a GON. Despite having access to a government-owned and operated network, most consumers choose to remain with their trusted private sector provider. Overestimated demand and underestimated costs is a recipe for a financial gap that taxpayers will always be forced to fill. 

In addition to the financial risks at stake, GONs also jeopardize access to new technologies. Unlike government, private sector providers cannot charge below the cost of service because it would drive them out of business. As if control of the permitting process and possession of regulatory authority were not enough of an advantage, government entities would also able to charge consumers below the cost of service since they can subsidize costs with tax dollars.

This manufactured “competition” with government would discourage private providers from expanding and investing in areas where GONs are present, as their odds of success would be hindered by competing with an entity that does not need to turn a profit. Since it is vigorous competition between private providers that spurs innovation, improves quality of service, and drives consumer prices down, GONs would lead to fewer choices for consumers, outmoded technology, and deteriorating service.

For example, Tennessee alone has had several GONs that have either failed outright or are currently being propped up. These cautionary tales (and the GON failure in nearby Bristol, Virginia) can be found on the infographic linked here and on the list below:

Fayetteville, Tennessee:

Fayetteville Public Utilities rolled out its broadband network in 2000, spending more than $11 million. While it is technically cash flow “positive,” Fayetteville’s GON would take more than 60 years – as much as double the useful life of the network – to make money.

Memphis, Tennessee: 

In 2001, the Memphis Light, Gas, and Water Division’s GON, Memphis Networx, was made available to the public. Fewer than 5 years later, it was clear that this undertaking was a big financial mistake, and by 2007, the GON was sold off to a private company at a $20.5 million loss on its $32 million investment.

Bristol, Virginia:

The Bristol Virginia Utility Authority began is GON, OptiNet, in 2002. Despite being improperly subsidized by BVU’s electric revenues, it still failed to turn a profit and was eventually sold at a loss of more than $80 million. A federal criminal investigation was launched into OptiNet, revealing that along with the improper subsidies, BVU officials also illegally saved the network hundreds of thousands by undercharging it for pole attachments, and also falsified invoices and took kickbacks.

Pulaski, Tennessee:

In 2005, Pulaski Electric System poured around $8.5 million into building out its GON, PES Energize. Despite being a cash flow positive project, its rate of return is so poor that it would take somewhere between 450 and 500 years to break even.

Morristown, Tennessee:

In 2006, Morristown Utility Systems rolled out its GON, MUS Fibernet, for more than $25 million. Over the years, interest in this GON has been so low that it cannot cover basic operational costs, and will never break even.

Tullahoma, Tennessee: 

The Tullahoma Utilities Authority started its municipal broadband network, lightTUBe, in 2007 for around $17 million. Since there were already numerous private providers serving this small town, it is unsurprising to learn that lightTUBe has not attracted many subscribers. LightTUBe’s rate of return is so low that it would take more than 100 years to pay off its debts.

Clarksville, Tennessee:

In 2007, the Clarksville Department of Electricity rolled out its fiber network, which was originally projected to cost $40,200,000. Between construction cost overruns and basic operation expenses that it could not afford to cover, CDE was forced to borrow an additional $20 million. Clarksville’s GON has lost so much money over the years that it will never be able to stand on its own.

Chattanooga, Tennessee:

In 2008, Chattanooga’s Electric Power Board began its fiber-to-the-home service. Including a $50 million loan from the EBP’s electric power division that was used to finance initial planning, $162 million in local revenue bonds that were used to finance the construction, and a one-time $111.5 million subsidy from the federal government, it would take more than 680 years – well beyond its useful life – for this GON to break even.

Photo Credit: Gage Skidmore


Oklahoma Lawmakers Should Reject Protectionist Bill That Would Drive Up Health Care Costs

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Posted by ATR on Tuesday, May 14th, 2019, 4:37 PM PERMALINK

The Oklahoma Senate will be discussing a protectionist bill that would further curtail free market forces in health care. Despite its title, the Patient's Right to Pharmacy Choice Act, House Bill 2632 is actually intended to benefit independent pharmacists at the expense of Oklahoma patients and taxpayers.

In a letter, Grover Norquist, president and founder of Americans for Tax Reform, warned Oklahoma lawmakers of the serious negative consequences that would stem from HB 2632. The letter is pasted below:

 

May 13, 2019 

 

To: Members of the Oklahoma Senate

From: Americans for Tax Reform 

 

RE: Oppose House Bill 2632 

 

Dear Senator, 

 

On behalf of Americans for Tax Reform (ATR) and our supporters across Oklahoma, I urge you to oppose House Bill 2632, protectionist legislation that would increase regulations in healthcare and further curtail free market forces, along with the right of contract in a sector already suffering from overbearing government interference. 

Pharmacy Benefit Managers (PBMs) are private firms that negotiate the amount pharmacies get reimbursed for prescriptions. PBMs are under attack right now as our entire drug pricing system sustains fire. Though PBMs serve an important role in the free market, it is reasonable to scrutinize some of their practices (and the overall system as it currently stands) and some reform may be worth considering. 

However, HB 2632 fails to productively reform PBMs or provide for any useful advantages to drug pricing. Instead, it is a protectionist bill that would increase government meddling in health care markets in order to benefit small “community” pharmacists at the expense of patients, taxpayers, and the insurance system. 

For example, if implemented, HB 2632 would allow for government to set specific contract terms for PBMs and require “one-size-fits-all” reimbursements for different types of pharmacies. This government overreach would restrict practices and tools PBMs use to reach optimal deals and savings, and could raise the cost of health plans. 

Some proponents of this bill may claim that it is a free market solution, but that could not be further from the truth. In fact, the bill’s own fiscal note describes part of it as “the opposite of free market.” HB 2632 is one of many attempts by community pharmacists throughout the country to tamper with the market in a way that benefits them. In North Dakota, they have succeeded in banning their competitors altogether. 

The best way to lower the price of prescription medication is to embrace truly free market solutions. Heavy-handed regulations that insert government into private contracts will only result in more problems. As such, ATR urges lawmakers to vote NO on HB 2632.

 

Sincerely,

Grover Norquist

President

Americans for Tax Reform

Photo Credit: Roosevelt Institute


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