John Kartch

Video: Trump Opportunity Zones Creating Jobs Nationwide

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Posted by John Kartch on Monday, September 14th, 2020, 10:15 AM PERMALINK

Today ATR released a video compilation of local news reports highlighting success of the Opportunity Zones enacted by Congressional Republicans and President Trump. New businesses are opening in Opportunity Zones created by the Tax Cuts and Jobs Act, bringing new jobs and services to economically distressed areas.

The Opportunity Zone provision provides capital gains tax relief for long term investments in the local areas, which are designated by state officials nationwide.

Click here or below to view the video:

Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by Trump Tax Cuts -- Which Biden and Harris Want to Repeal

 


Biden Cannot Be Trusted on Taxes -- His $400,000 Pledge is Bogus

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Posted by John Kartch on Tuesday, September 8th, 2020, 9:45 AM PERMALINK

Biden cannot be trusted on taxes

Joe Biden cannot be trusted when he says he won't raise taxes on Americans making less than $400,000 per year. In addition to the fact that he has endorsed many tax increases on middle class Americans during the past few months (re-imposition of the $695 - $2,085 individual mandate tax, repeal of the Tax Cuts and Jobs Act, a carbon tax, and raising the capital gains tax on "every single solitary person" so it is taxed at ordinary income tax rates) he also broke his tax pledge the last time around, betraying the American people.

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. [Click here for video of Biden calling for re-imposition of 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

 

 


JFK vs. Biden on Taxes

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Posted by John Kartch on Tuesday, September 1st, 2020, 3:20 PM PERMALINK

ATR today released a video showing the tax policy contrast of President John F. Kennedy and current Democrat nominee Joe Biden.

Quotations in the video are as follows:

JFK: "Such a bill will be presented to the congress for action next year. It will include an across the board, top to bottom cut in both corporate and personal income taxes."

Biden: "Guess what, if you elect me your taxes are going to be raised not cut."

JFK: "Corporate tax rates must also be cut to increase incentives and the availability of investment capital."

Biden: "I would raise the corporate tax." "Raise the corporate tax rate from 20 to 28 percent."

JFK: "For all these reasons, next year's tax bill should reduce personal as well as corporate income taxes. For those in the lower brackets who are certain to spend their additional take-home pay, and for those in the middle and upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital."

Biden: "I'm going to double the capital gains rate to 40 percent." "So every single solitary person, their capital gains are going to be treated like real income and they are gonna pay 40% on their capital gains tax."

JFK: "To achieve these greater gains, one step above all is essential. The enactment this year of a substantial reduction and revision in federal income taxes."

Biden: "Guess what? First thing I'm gonna do is repeal that Trump tax cut. Oh not a joke."

For details on JFK's tax-cutting policies, see the book JFK, Conservative authored by Ira Stoll.

Also note the 2012 Wall Street Journal op-ed written by Amity Shlaes, excerpted below:

Heller's successful plan to combat the recession of the early 1960s was the Kennedy-Johnson tax cuts, which pushed the unemployment rate below 5% and the growth rate above 5% from 2%. Crucially, the administration's marketing pitch didn't talk about "fairness" but about competition. In the 1963 State of the Union Address, for example, Kennedy spoke about obstacles that "undercut our efforts to compete with other nations." He called "one step, above all, essential" to solve the problem: "the enactment this year of a substantial reduction and revision in federal income taxes."

Heller and Kennedy recognized that taxation (not only growth) is all about competition. Cities compete with cities, counties with counties, states with states, and nations with nations. These natural experiments run in real time.

Click below to watch the video:

Photo Credit: The White House


Biden Will Raise Your Taxes, Trump Will Cut Your Taxes


Posted by John Kartch on Saturday, August 29th, 2020, 3:45 PM PERMALINK


There's a clear contrast on taxes between Joe Biden and President Donald Trump.

Biden will raise your taxes, Trump will cut your taxes:

See more at www.atr.org/HighTaxJoe

 


Kamala Harris Campaign Headquarters Was Located in Opportunity Zone Created by Trump Tax Cuts -- Which Biden and Harris Want to Repeal

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Posted by John Kartch on Wednesday, August 26th, 2020, 4:21 PM PERMALINK

Kamala Harris and Joe Biden have vowed to "repeal", "get rid of the whole thing", and "eliminate" the Tax Cuts and Jobs Act, also known as the Trump tax cuts. But the Kamala Harris campaign directly benefited from the Trump tax cuts: The Harris national campaign headquarters was purposefully located in an Opportunity Zone in Baltimore made possible by the tax cuts signed into law by President Donald Trump in 2017.

Harris has pledged to fully repeal the Tax Cuts and Jobs Act if elected. "Get rid of the whole thing," she said. If Biden and Harris repealed the tax cuts, the Opportunity Zones -- including the one where her campaign headquarters was located -- would be abolished.

For months, the Harris campaign headquarters was housed in a different Baltimore location. The campaign told the The Baltimore Sun that the headquarters would be purposefully moved to an Opportunity Zone:

The campaign said the permanent site will be located in an “opportunity zone.” That federal program — part of a 2017 tax reform law -- is designed to attract billions of dollars of private investment and government resources to distressed communities around the nation."

The Harris campaign moved to its new, permanent location inside the Opportunity Zone in early June of last year.

The GOP-enacted Tax Cuts and Jobs Act created the Opportunity Zones to encourage long-term investment, innovation, and growth in distressed areas. As noted by the Maryland Department of Housing and Community Development, which monitors the Harris/Baltimore opportunity zone:

The Opportunity Zone program is a nationwide initiative administered by the U.S. Treasury created under the 2017 Tax Cuts and Job​s Act. The program provides federal tax incentives for investment in distressed communities over the next 10 years. Areas designated as Opportunity Zones will be able to reap the benefits of new capital investment to help redevelop underserved communities. 

Meanwhile, Biden and Harris continue to rail against the tax reform that made the Opportunity Zones possible.

Americans for Tax Reform has collected over 1,200 examples of good news arising from the Tax Cuts and Jobs Act including hundreds of job-creating developments inside Opportunity Zones.

See also:

August 14, 2020: HYPOCRITES: Biden and Harris Slam Uber and Lyft But Have Used Them Over 1,400 Times

August 13, 2020: Kamala Harris and Joe Biden Vow to Abolish Your Right to Work

August 12, 2020: Video: Kamala and Joe Vow to Raise Your Taxes

August 11, 2020: Kamala Harris: "Get rid of the filibuster to pass a Green New Deal."

August 4, 2020: Video: Biden Vows to Raise Taxes Despite Obama Warning

July 28, 2020: Biden Threatens Freelancers and Independent Contractors Nationwide

July 27, 2020: Video: Biden Vows to Sacrifice "Hundreds of Thousands" of Jobs in Order to Impose Green New Deal

July 15, 2020: Biden Will Impose Highest Capital Gains Tax Rate Since Jimmy Carter in 1977

July 13, 2020: Biden Broke His Middle Class Tax Pledge

July 9, 2020: Even in a pandemic, Biden vows to impose higher corporate tax rate than communist China

May 27, 2020: Biden Vows to Bring Back the Individual Mandate Tax, A Violation of His Middle Class Tax Pledge

May 22, 2020: Joe Biden said: "Let's repeal the Trump tax cut."

May 22, 2020: Joe Biden said he wants to raise the corporate tax rate.

May 8, 2020: Joe Biden lies about the Tax Cuts and Jobs Act

April 5, 2020: Biden Endorses Another Tax Hike on Middle Class

March 11, 2020: Video compilation: How High Will Biden Raise Your Capital Gains Taxes?

March 6, 2020: Video Compilation: Joe Biden is Not a Moderate

 

 

Photo Credit: DAEWOO KANG/Flickr


Kamala Harris on Trump Tax Cuts: "Get rid of the whole thing."

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Posted by John Kartch on Wednesday, August 19th, 2020, 2:43 PM PERMALINK

Here's what will happen if Biden and Harris repeal the Tax Cuts and Jobs Act

Kamala Harris wants a full repeal of the Tax Cuts and Jobs Act enacted by congressional Republicans and President Trump in 2017. Repeal of the tax cuts would result in a $2,000 annual tax increase for a median income family of four.

As reported by Bloomberg News:

Senator Kamala Harris said she'd seek to repeal all of President Donald Trump's 2017 tax overhaul, including its breaks for wealthy earners, corporations and the middle class.

"Get rid of the whole thing," the California Democrat and presidential contender said after a campaign event in Detroit.

Even Barack Obama has warned against raising taxes in an economic downturn. If Democrats repeal the tax cuts, as they have said countless times, Americans will face steep tax hikes just as the country starts to recover from the coronavirus:

  • A family of four earning the median income of $73,000 would see a $2,000 tax increase each year.
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase each year.
  • Every household who claims the child tax credit will see their child tax credit cut in half.
  • Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax of $695 - $2,085. This tax was zeroed out as part of the Tax Cuts and Jobs Act. Biden has vowed to re-impose this tax.
  • The USA would have the highest corporate income tax rate in the developed world, higher than China (25 percent), the United Kingdom (19 percent), Canada (26.8 percent), and Ireland (12.5 percent). 
  • Small employers will face tax increases due to the increase in marginal income tax rates and the repeal of the TCJA 20% deduction for small business income.
  • The Opportunity Zone program would be abolished. Opportunity Zones were created as part of the TCJA are already helping economically distressed areas across the country.
  • Taxes would rise in every state and every congressional district.
  • The Death Tax would ensnare more families and businesses.
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.  
  • The AMT would snap back to hit millions of households.
  • 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.
     

Even left-leaning media outlets have acknowledged the fact that the Trump tax cuts have helped middle income households:

Americans for Tax Reform has compiled over 1,200 examples of how the Tax Cuts and Jobs Act has helped businesses and households in all 50 states.

On tax policy, Biden has a history of lying to the American people. He lied 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.

To stay up-to-date on Biden's tax hikes, visit ATR.Org/HighTaxJoe


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:


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