John Kartch

List of Tax Reform Good News

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Posted by John Kartch on Wednesday, August 19th, 2020, 2:00 PM PERMALINK

1,200 examples of small business expansion, new hires, pay raises, Opportunity Zone job creation and utility rate reductions where the GOP-enacted Tax Cuts & Jobs Act was cited as a key factor:

Full A-Z national compilation (PDF)

State lists:

Ala.   Alaska   Ariz.   Ark.   Calif.   Colo.   Conn.   Del.  D.C.   Fla.   Ga.   Hawaii   Idaho   Ill.   Ind.   Iowa   Kan.   Ky.   La.   Maine   Md.   Mass.   Mich.   Minn.   Miss.   Mo.   Mont.   Neb.   Nev.   N.H.   N.J.   N.M.   N.Y.   N.C.   N.D.   Ohio   Okla.   Ore.   Pa.   R.I.   S.C.    S.D.   Tenn.   Texas   Utah   Vt.   Va.   Wash.   W. Va.   Wis.   Wyo.

Specialized lists:

Opportunity Zones

Small businesses

Manufacturers

Craft beverage producers

Utilities

Examples of companies providing new employee and family benefits

(Pictured at top: The Tax Cuts & Jobs Act helped Rod’s Harvest Foods in St. Ignatius, Montana raise employee wages and bonuses)

More from Americans for Tax Reform


Kamala Harris Admits She Will Strip Everyone's Private Health Insurance

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Posted by John Kartch on Wednesday, August 19th, 2020, 9:24 AM PERMALINK

Kamala Harris admitted that her "Medicare for All" plan would strip away private health insurance plans. Harris made the remark in a post debate interview with CNN's Anderson Cooper on July 31, 2019:

Anderson Cooper: "In your plan, eventually, everyone would be taken off the private plan their company currently has."

Sen. Kamala Harris: "Yes."

Click here or below to view video:


WOW: Kamala Harris and Joe Biden Vow to Abolish Your Right to Work

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Posted by John Kartch on Thursday, August 13th, 2020, 8:50 AM PERMALINK

As seen in a video released today by Americans for Tax Reform, Joe Biden and Kamala Harris vow to ban Right to Work laws which protect 166 million Americans in 27 states, more than half the U.S. population. Right to Work laws allow workers the freedom of employment without forced membership in a labor union or forced payment to a union boss.

Kamala Harris said: "It has to be about, for example, banning Right to Work laws. That needs to happen."

Joe Biden said: "We should change the federal law [so] that there is no Right to Work allowed anywhere in the country. For real. Not a joke. Not a joke."

Harris and Biden also documented their anti-Right to Work position in writing here and here. And both have endorsed legislation called the PRO Act which bans Right to Work laws. This legislation is live ammunition, having already passed the Democrat-run U.S. House of Representatives. It has 39 Democrat co-sponsors in the Senate.

Consider yourself warned: If Democrats win full control of the federal government, Right to Work laws will be gone overnight.

"No one should have to pay someone for the right to have a job. Forced union dues were recognized as wrong when congress passed the Taft-Hartley Act of 1947," said Grover Norquist, president of Americans for Tax Reform. "Everyone in a free country has the right to work without being asked to pay off union bosses."

The 27 Right to Work states are: Florida, Wisconsin, Michigan, Iowa, Arizona, Georgia, North Carolina, South Carolina, Virginia, Texas, Tennessee, Indiana, Kentucky, Nevada, Oklahoma, Nebraska, South Dakota, North Dakota, Wyoming, West Virginia, Mississippi, Alabama, Louisiana, Arkansas, Idaho, Utah, Kansas.

Click here or below to watch Kamala Harris and Joe Biden vow to abolish Right to Work:

See Also:

Biden Threatens Independent Contractors and Freelancers Nationwide

Pew Research Center Survey: By a 3-1 Ratio, Americans Consider Rideshare Drivers to be Independent Contractors

Pew Research Center Survey: By a 5 - 1 Radio, Residents of Majority Minority Neighborhoods Say Uber and Lyft Bring Them Where Taxis Will Not Go

Survey: App-based Drivers Want to Maintain Independent Contractor Status
 


Video: Kamala and Joe Vow to Raise Taxes

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Posted by John Kartch on Wednesday, August 12th, 2020, 12:30 PM PERMALINK


Today Americans for Tax Reform released a side-by-side video showing Kamala Harris and Joe Biden united in their desire to raise your taxes, ban fracking, and impose a national ban on plastic bags and straws.

Click here or below to view:


Kamala Harris: "I am prepared to get rid of the filibuster to pass a Green New Deal.”

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Posted by John Kartch on Tuesday, August 11th, 2020, 11:00 PM PERMALINK

Joe Biden's Vice Presidential pick Kamala Harris wants to abolish the filibuster in order to impose a radical Green New Deal on the American people.

During a Sept. 4, 2019 CNN interview, Harris said:

"I am prepared to get rid of the filibuster to pass a Green New Deal.”

Click below to watch the video:


ATR Supports Payroll Tax Executive Order

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Posted by John Kartch on Friday, August 7th, 2020, 12:45 PM PERMALINK

As President Donald Trump considers an executive order to suspend the collection of payroll taxes, Americans for Tax Reform president Grover Norquist issued the following statement:

"President Trump should be applauded for his proposal to suspend payroll taxes and increase take-home pay for Americans. This will increase the value of work and lower the cost to businesses of rehiring more Americans. President Trump's tax relief and deregulation will create millions more jobs in the next few months."

See Also:

Over 1,100 examples of good news arising from the Tax Cuts and Jobs Act

Photo Credit: Gage Skidmore


VIDEO: Biden to Raise Taxes Despite Obama Warning

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Posted by John Kartch on Tuesday, August 4th, 2020, 9:17 AM PERMALINK

As shown in a video released today by Americans for Tax Reform, even Barack Obama knows you don't raise taxes in a recession. Yet Joe Biden is pushing for a long list of tax increases to impose on the American people.

As shown in the video:

"You don't raise taxes in a recession." -- Barack Obama

"Guess what? If you elect me, your taxes are going to be raised, not cut." -- Joe Biden

"The last thing you want to do is raise taxes in the middle of a recession because that would just suck up, take more demand out of the economy and put businesses in a further hole." -- Barack Obama

"I would raise the corporate tax rate from 20 percent to 28 percent." -- Joe Biden

"I'm gonna double the capital gains rate to 40 percent." -- Joe Biden

Click below to view:


Video: Biden Vows to Kill Jobs in Pursuit of "Green" Agenda

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Posted by John Kartch on Monday, July 27th, 2020, 8:30 AM PERMALINK

Americans for Tax Reform today released a compilation of Joe Biden statements admitting he will kill blue collar energy jobs in the pursuit a "green" agenda:

  • On Feb. 5, 2020, Joe Biden said: "We are going to get rid of fossil fuels."
  • On March 14, 2020, Biden said: "No more. No new fracking."
  • On Jan. 24, 2020, Biden said: "Yes" we should end fracking.

  • On March 15, 2020, Joe Biden said: "No ability for the oil industry to continue to drill, period. Ends."

  • On Sept. 4, 2019, Biden endorses a carbon tax. 

  • September 6, 2019, Biden told a young woman that “I want you to look at my eyes. I guarantee you. I guarantee you. We’re going to end fossil fuels.”

  • On Dec. 19, 2019, Biden said he would be willing to displace "hundreds of thousands of blue collar workers" in pursuit of a green new deal. 

  • On Dec. 30, 2019, Joe Biden said: "Anybody who can go down 300 to 3,000 feet in a mine can sure as hell learn to program as well...Give me a break! Anybody who can throw coal into a furnace can learn how to program, for god's sake!


Biden Will Impose Highest Capital Gains Tax Rate Since Jimmy Carter in 1977

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Posted by John Kartch on Wednesday, July 15th, 2020, 4:35 PM PERMALINK


Joe Biden wants to impose the highest capital gains tax rate since the Jimmy Carter era known for its economic stagnation.

Biden wants to take the current capital gains tax rate of 20 percent and double it to 39.6 percent. That's the highest rate since 1977, when the highest possible capital gains rate was 39.875 percent.

Here is the documentation of Biden's threatened capital gains tax hike:

On Oct. 23, 2019 Biden said: “So every single solitary person, their capital gains are going to be treated like real income and they are going to pay 40 percent on their capital gains tax."

On Sept. 27, 2019 Biden said: “I’m gonna double the capital gains rate to 40 percent."

On Oct. 15, 2019 Biden said"I would raise the capital gains tax to the highest rate of 39.5 percent, I would double it."

On Aug. 21, 2019 Biden said“The capital gains tax should be at what the highest minimum tax should be, we should raise the tax back to 39.6 percent instead of 20 percent."

On Dec. 9, 2019 Biden said the capital gains tax rate "could go higher" than 40%

Video documentation of the above statements can be found here: How High Will Biden Raise Your Capital Gains Taxes?

During his decades in Washington, Biden repeatedly voted against capital gains tax cuts.

In 2003, Biden voted against the reduction in the capital gains rate from 20 percent to 15 percent.

In 2005 and 2006, Biden voted against the successful extension of the 15 percent rate.

In 2012, Vice President Biden and President Obama succeeded in their push to let the capital gains tax rate rise to 20 percent.

Biden and Obama then piled on another 3.8 percent capital gains tax hike -- the Net Investment Income Tax -- one of the many tax increases in Obamacare. The 3.8 percent tax hike took effect Jan. 1, 2013, purposefully timed to kick in *after* the 2012 election.

Some taxpayers under Biden will face a capital gains tax rate over 50 percent, when combined with state capital gains taxes. California's 13.3 percent state capital gains rate means Golden State taxpayers will face a rate of 56.7 percent (39.6 + 3.8 + 13.3 = 56.7%).

So what ever happened to the high capital gains rate under President Carter? In 1978 he wanted to raise the rate even higher. But there was a backlash from middle class households around the country, from Democrats and Republicans alike. It was so fierce, Carter was forced to relent and ended up signing a capital gains tax cut.

As recounted by Mark Bloomfield in the Wall Street Journal:

But the year was 1978, the push for a tax hike came from President Jimmy Carter, and the tax in question was on capital gains. Mr. Carter wanted to tax capital gains at the same rate as ordinary income -- effectively doubling the rate for many taxpayers.

He didn't get his tax hike, but he did spark a pro-growth insurgency that reframed the tax debate.

The chief insurgent was Republican Rep. Bill Steiger of Wisconsin, who called for cutting the top capital gains tax rate almost in half. From its inception, the 1978 "Steiger amendment" won bipartisan support. In the Senate, Democrat Russell Long (then chairman of the tax-writing committee), Alan Cranston (the second-ranking Democrat) and Republican Clifford Hansen signed up 59 Democrats and Republicans to co-sponsor legislation to cut capital gains taxes.

Within weeks, political and popular support turned in favor of the tax cuts as more people acknowledged that lowering the rates would reward the middle class for saving and investing, not just "fill the pockets of fat cats."

What prompted this unexpectedly strong support for lower taxes on capital gains? The tax on capital gains may have been seen as a tax on the rich by some in Washington, but most Americans saw it differently. People believe in the American Dream, the old-fashioned Horatio Alger rags-to-riches story. A tax on capital gains is a tax on the hard work and risk-taking people undertake to build their own wealth.

Mainstream economists know that lower capital gains taxes result in lower capital costs, more saving and investment, and a stronger economy. And ordinary citizens understand that low taxes on capital gains can make it possible for them to buy a new lathe or the newest software, which will give them the chance to compete effectively in today's global economy. Retirement security is also at stake. Low taxes on capital gains allow Americans to build up larger nest eggs.

Capital gains tax hikes are just one of the many tax hikes threatened by Biden. He has endorsed income tax hikes, small business tax hikes, corporate tax hikes, a carbon tax, a more burdensome payroll tax, and he will even re-impose the much-hated Obamacare individual mandate tax, which broke his 2008 middle class tax pledge not to raise a single penny of tax on any American making less than $250,000 per year. Biden wants to bring back this $695 - $2,085 tax which primarily hits households making less than $50,000 per year.

What would Tax Day look like under President Biden? This video of Biden's own words is a clear warning to taxpayers.

Learn more about Biden's many tax hikes at ATR.org/HighTaxJoe

 

Photo Credit: Gage Skidmore/Flickr


Biden Broke His Middle Class Tax Pledge

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Posted by John Kartch on Monday, July 13th, 2020, 11:40 AM PERMALINK

Biden cannot be trusted on taxes

As Vice President, Joe Biden broke his promise to the middle class that no one making less than $250,000 would see a single penny of their tax raised. Biden said his tax vow applied to "any tax."

Biden made the promise during a nationally televised Vice Presidential debate on Oct. 3, 2008 using firm language:

“No one making less than $250,000 under Barack Obama’s plan will see one single penny of their tax raised whether it’s their capital gains tax, their income tax, investment tax, any tax.” [Video]

Biden's running mate Barack Obama touted the pledge in speeches for months:

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” [Transcript] [Video clip]

Once safely in office, Biden imposed tax increases on millions of middle class households.

White House spokesman Robert Gibbs was asked by reporters on Tax Day -- April 15, 2009 -- if the Obama-Biden pledge applied to Obamacare. Gibbs affirmed, saying: "The statement didn't come with caveats."

But Biden imposed tax increases on the middle class:

Individual Mandate Tax: Obamacare imposed a tax of $695 for an individual and $2,085 for a family of four for failing to buy “qualifying” health insurance as defined by Obama-Biden rules.

The tax hit low and middle-income families hard: Three-fourths of households stuck paying the tax made less than $50,000 per year, a blatant violation of Biden's pledge to the American people.

According to official IRS data for the 2017 tax year, 74% of households liable for the individual mandate tax had an adjusted gross income of less than $50,000.

In 2017, the individual mandate tax was paid by 4,606,271 households.

3,430,003 of these households had an adjusted gross income of less than $50,000.

Thanks to congressional Republicans and President Trump, this tax was zeroed out as part of the Tax Cuts and Jobs Act.

Biden is now pushing to reimpose the individual mandate tax.

Medicine Cabinet Tax: This Obama-Biden tax increase meant the 20 million Americans with a Health Savings Account and the 30 to 35 million Americans with a Flexible Spending Account were no longer able to purchase over-the-counter medicines using these pre-tax account funds. Examples include cold, cough, and flu medicine, menstrual cramp relief medication, allergy medicines, and dozens of other common medicine cabinet health items.

For years, this Obama-Biden tax made household medicine cabinet items more expensive. President Trump signed repeal of the Obamacare Medicine Cabinet Tax in March 2020.

Chronic Care Income Tax Hike: This Obama-Biden income tax increase directly targeted middle class Americans who faced high medical and dental expenses in a given year. The tax hit 10 million households per year.

Before Obamacare, Americans facing high medical expenses were allowed an income tax deduction to the extent that those expenses exceeded 7.5 percent of adjusted gross income (AGI). Obamacare imposed a threshold of 10 percent of AGI. Therefore, Biden not only made it more difficult to claim this deduction, he widened the net of taxable income.

Again, low and middle income households were hit hard by this Obama-Biden tax.

Thanks to President Trump and congressional Republicans, this tax hike was rolled back as part of the Tax Cuts and Jobs Act. But Biden has threatened many times to repeal the TCJA.

Flexible Spending Account Tax: Due to this Obama-Biden tax, the 35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs face an Obama-Biden cap of $2,500.

Before Obamacare, the accounts were unlimited under federal law. But now, parents looking to save for medical costs or braces for the kids find themselves quickly hitting this new cap. This restricts options for low and middle income families.

This Obama-Biden tax also hits special needs families. Families with special needs children often use FSA dollars to pay for special needs tuition and educational materials, which can run thousands of dollars per year. The Obama-Biden $2,500 cap makes things more difficult for these families.

With his threatened repeal of the Tax Cuts and Jobs Act, Biden will raise taxes on all income levels. If Biden repeals the tax cuts, a median income family of four will face an annual $2,000 tax increase and a median income single parent with one child will face an annual $1,300 tax increase.

“Joe Biden lied to the American people when he said he would never raise any tax on any American earning less than $250,000. Whatever Biden says now, taxpayers know what to expect,” said Grover Norquist, president of Americans for Tax Reform.

Biden has also endorsed a carbon tax and a 40 percent capital gains tax on all Americans.

Biden even endorsed another middle class tax increase on every homeowner in Milwaukee.

Biden's record is clear: If he becomes President, your taxes are going up.

See Also:

Biden: "If you elect me, your taxes are going to be raised"

Video: Biden calls for repeal of Trump tax cuts

Biden Lied About His Tax Hikes on Small Business

 

 

Photo Credit: Gage Skidmore/Flickr


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