John Kartch

Buttigieg Slams Bernie: There Is Still A "Multi-Trillion Dollar Hole" In MFA After Raising Taxes

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Posted by John Kartch on Wednesday, February 19th, 2020, 10:03 PM PERMALINK

Pete Buttigieg hit Bernie Sanders for his "lack of transparency" on the cost of his Medicare for All plan on Wednesday night during the NBC Democratic debate, stating that even after raising taxes on middle class Americans "there is still a multi-trillion dollar hole."

"But I'm actually less concerned about the lack of transparency on Sanders' personal health than I am about the lack of transparency on how to pay for his health care plan. Since he said that it's impossible to even know how much it's going to cost. And even after raising taxes on everybody making $29,000, there is still a multi-trillion dollar hole. Matter of fact, if you add up his policies altogether, they come to $50 trillion. He's only explained $25 trillion worth of revenue," Buttigieg said.

Sanders' "lack of transparency" comes from a January interview with CBS News, where the senator said that "nobody knows" how much his Medicare for All plan will cost.

Previously, Sanders has admitted that taxes on the middle class will go up as a result of Medicare for All, but in recent months, he hasn't been very open about that portion of the plan.

In fact, during a Las Vegas town hall on his housing plan, Sanders said that taxes will not go up "one nickel" because of the plan, but that is misleading because many of his proposals raise taxes substantially on the middle class.

According to a report by the Urban Institute, the pricey healthcare plan will require $32 trillion in new taxes over the next decade, which is much more than Sanders would like to admit.

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


Biden: Every Federal Building Will Be Forbidden From Emitting "Air heat and/or air conditioning"

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Posted by John Kartch on Monday, February 17th, 2020, 11:06 PM PERMALINK

Joe Biden said that he would mandate that every federal building "will have to" become a "clean" building if he is elected, meaning that the buildings cannot emit "air, heat, and or air conditioning outside."

"For example, every federal building in the United States of America will have to become a clean building. Meaning that -- no, I really mean that -- not only will it move them to a green building, but we have to also make sure that they're not able to emit air heat and/or air conditioning outside the reducing, because we need new windows, we need new doors."

WATCH:

In addition, Biden said there would be "no more coal plants" if he is elected, either.

In December, Biden suggested that 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. 

Biden also endorsed a fracking ban. 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?

The truth is, if a Democrat is elected in 2020, they would ban nuclear energy, gas powered cars, plastic straws, plastic bags, coal power plants, fracking, offshore drilling, pipeline building, exporting fossil fuels, and more. 

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


Buttigieg: Sanders Policy Proposals Are "Bigger Than The Entire Size of The American Economy"

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Posted by John Kartch on Wednesday, February 12th, 2020, 12:33 AM PERMALINK

Pete Buttigieg criticized Bernie Sanders over the weekend during an MSNBC interview, stating that the cost of his proposals is "bigger than the size of the entire American economy."

WATCH:

"When you do the math on [Sanders] proposals, there's a $25 trillion hole, even after his tax increase on the middle class. At $25 trillion, that's bigger than the entire size of the American economy."

The other candidates have criticized Sanders too. During last week's Democratic debate on ABC, Joe Biden said that "The idea that middle class taxes aren't going to go up is just crazy," 

At one point last year, Biden said that Sanders Medicare for all plan  "is totally unrealistic and can’t be done."

Biden went on to press Sanders on how much his healthcare plan costs since he hasn't given Americans a price tag for the plan.

Amy Klobuchar even went as far as to say that she's "troubled" with the thought of having a socialist as the Democratic nominee during an interview with CBS News on Monday.

While Sanders refuses to give a price tag for his plan, he is quick to place the cost burden on the American people. 

Sanders has said that he plans to tax all income over $29,000 to help cover the cost for Medicare for All, which has an estimated cost of $32 trillion to $36 trillion.

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


How the Trump Tax Cuts Have Helped New Hampshire

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Posted by John Kartch on Monday, February 10th, 2020, 6:36 PM PERMALINK

Tonight, President Trump will be holding a rally in Manchester, New Hampshire. New Hampshire 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 New Hampshire congressional district saw a tax cut.

Doubled child tax credit: 88,860 New Hampshire households are benefiting from the TCJA’s doubling of the child tax credit.

Standard deduction: 481,950 New Hampshire households are benefiting from the TCJA’s doubling of the standard deduction.

Obamacare individual mandate tax relief: 32,610 New Hampshire 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, New Hampshire residents 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. Granite State Electric (Liberty Utilities) customers are saving on their utility bill because of the TCJA.

Connection (Merrimack, New Hampshire) -- $1,000 bonuses:

Connection (PC Connection, Inc.; NASDAQ: CNXN), a leading technology solutions provider to business, government, and education markets, today announced that it will pay a $1,000 cash bonus to each employee in consideration of their efforts for the year ended December 31, 2017.

"We are pleased to be able to provide this special reward to our valued employees for their hard work and commitment to excellence," said Timothy McGrath, CEO and President.

The Company is still evaluating all the provisions of the Tax Cuts and Jobs Act enacted on December 22, 2017, which effected numerous changes in existing tax law, including a permanent reduction in the federal corporate income tax rate. The rate reduction takes effect on January 1, 2018, and the Company currently anticipates that the net impact on its tax provision and cash taxes paid will be beneficial. -- Feb. 7, 2018 Connection press release

Franklin Savings Bank -- branch locations in Concord, Bristol, Franklin, Gilford, Merrimack, and Tilton – $1,000 bonuses:

Franklin Savings Bank announced today that it will use a portion of its tax savings to provide employees with a special bonus in recognition of their contribution to the continued success of the bank. FSB will benefit from the reduction in corporate tax rates, and has chosen to share the savings with its employees. All employees will receive a $1,000 bonus.

“Our employees consistently go ‘above and beyond’ for our customers and the communities we serve,” said Ron Magoon, President & CEO. “This bonus is another opportunity to thank them for their outstanding commitment, dedication and service.” – Feb. 26 2018, Franklin Savings Bank press release excerpt

Portsmouth Brewery (Portsmouth, New Hampshire)  – The founder of the brewery said that the tax cut allowed the company to hire more employees and invest in new equipment:

"For a small brewery like us, we make about 1,000 barrels a year,” said Peter Egelston, founder of Portsmouth Brewery. “So saving $3.50 per barrel, you can do the math, that's about $3,500 in savings. That may not sound like a lot of money, but it is."

The tax cut was set to expire at the end of 2019, but with support from Congress, Trump signed a one-year extension. 

"That's money going back into small businesses, and it's being used to invest in equipment,” said Egelston. “It's being used to hire more people. It's being used in a lot of different ways. That’s a choice each individual business can make. When they get a windfall like a reduced tax rate, they can either keep that money in the business or they can pass it along to the consumer in the form of lower prices."  – Jan. 1, 2020, WMUR article.

Waste Management Inc. (Multiple locations in New Hampshire) -- $2,000 bonuses:

In light of the meaningful contributions of its employees and the new U.S. corporate tax structure, the company will distribute US $2,000 in 2018 to every North American employee not on a bonus or sales incentive plan; that includes hourly and other employees. 

“We are about to get a tax benefit as our U.S. corporate tax rate goes from 35 percent to 21 percent. In considering how to best spend that, we wanted to find a way to help grow our economy, which in turn, will help grow our business, and give some of the tax savings back to those hardworking employees who do not get the opportunity to participate in our salaried incentive plans,” said Jim Fish, president and chief executive officer, Waste Management. 

“So, we are offering each North American hourly full-time employee and salaried employee who does not participate in any sales incentive or bonus plan during 2018, a cash bonus of US $2,000 to show our appreciation to so many of our valued employees while growing our business and returning a good portion of the tax savings directly to the overall economy,” he continued. – Jan. 10 2018, Waste Management Inc. press release excerpt

Pentucket Bank -- branch locations in Hampstead and Salem -- $500 bonuses, increased wages, and increased educational opportunties.

Apple (Apple store locations in Manchester, Nashua, Salem)  - $2,500 employee bonuses in the form of restricted stock units; Nationwide, $30 billion in additional capital expenditures over five years; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing. 

AT&T -- $1,000 bonuses to 171 New Hampshire employeesNationwide, $1 billion increase in capital expenditures:

Today, Congress approved legislation representing the first comprehensive tax reform in a generation. The President is expected to sign the bill in the coming days.

Once tax reform is signed into law, AT&T* plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees — all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.

“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” said Randall Stephenson, AT&T chairman and CEO. “This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.”

Since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows. -- Dec. 20, 2017 AT&T Inc. press release 

T.J. Maxx – 16 stores in New Hampshire – tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and charitable donations:

The 2017 Tax Act benefited the Company in the fourth quarter and full year Fiscal 2018. The Company expects to continue to benefit from the 2017 Tax Act going forward, primarily due to the lower U.S. corporate income tax rate. As a result of the estimated cash benefit related to the 2017 Tax Act, the Company is taking the following actions:

Associates

  • A one-time, discretionary bonus to eligible, non-bonus-plan Associates, globally 

  • An incremental contribution to the Company’s defined contribution retirement plans for eligible Associates in the U.S. and internationally 

  • Instituting paid parental leave for eligible Associates in the U.S. 

  • Enhancing vacation benefits for certain U.S. Associates 

Communities

Made meaningful contributions to TJX’s charitable foundations around the world to further support TJX’s charitable giving. – Feb. 28, 2018 The TJX Companies Inc. press release excerpt

Best Buy -- Nine store locations in New Hampshire -- $1,000 bonuses for full-time employees; $500 bonuses for part-time employees. Over 100,000 employees will receive bonuses:

Best Buy is the latest major corporation to hand out bonuses to its employees as a result of the recently passed corporate tax reform.

In a letter sent to employees Friday afternoon, CEO Hubert Joly said full-time employees will receive a one-time bonus of $1,000 and part-time employees $500.

All permanent employees who are not on an existing bonus plan will receive the additional funds. The bonuses are expected to show up in their paychecks this month.

In all, more than 100,000 of Best Buy’s 125,000 employees in the U.S., Mexico and Canada are slated to receive the extra payouts.

In addition, Best Buy is making a one-time contribution of $20 million to the Best Buy Foundation to help further expand its teen tech centers and Geek Squad Academies across the U.S.

“Our goal was simple: to say ‘thank you’ to more than 100,000 of our employees and help accelerate our work to bring much needed technology training to 1 million underserved teens a year,” said Jeff Shelman, a Best Buy spokesman. — Feb. 2 2018, Minneapolis Star Tribune

Granite State Electric (Liberty Utilities) (Salem, New Hampshire) – The utility will pass along tax cuts savings to customers:

In this order, the Commission approves a distribution revenue decrease for Liberty Utilities, passing on to ratepayers the benefits of reduced corporate taxes resulting from recent changes to state and federal tax laws. This order also approves Liberty’s proposal to forego other distribution rate increases that were scheduled to take effect June 1, 2018, as a way to pass additional benefits of corporate tax reductions on to customers. – http://www.puc.state.nh.us/Regulatory/Orders/2018orders/26139e.pdf

Cintas (Chelmsford, New Hampshire) -- $1,000 bonuses for employees of at least a year, $500 for employees of less than a year.

Home Depot -- 20 locations in New Hampshire, bonuses for all hourly employees, up to $1,000.

Lowe's --1,000 employees at 13 stores in New Hampshire; Employees will receive bonuses of up to $1,000 based on length of service, for 260,000 employees; expanded benefits and maternity/parental leave; $5,000 of adoption assistance.

Ryder (Three locations in New Hampshire) – Tax reform bonuses.

CarMax (Location in Manchester, New Hampshire) – $250-$1,500 bonuses depending on length of service:

“The nation’s largest retailer of used cars, announced plans to provide one-time bonuses to most hourly and commissioned full-time and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company.” – Feb 23. 2018, EPR Retail News article excerpt

Walmart - New Hampshire employees at 27 Walmart stores received tax reform bonuses, wage increases, and expanded maternity and parental leave. Walmart employees who adopt children will be given $5,000 to help cover expenses.

Starbucks Coffee Company (Multiple locations in New Hampshire) – $500 stock grants for all retail employees, $2,000 stock grants for store managers, and varying plan and support center employee stock grants. Nationally, 8,000 new retail jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave.

FedEx (Multiple locations in New Hampshire) – Accelerated and increased compensation; pension plan contributions:

“FedEx Corporation is announcing three major programs today following the recently enacted U.S. Tax Cuts and Jobs Act:

  • Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance- based incentive plans for salaried personnel.
  • A voluntary contribution of $1.5 billion to the FedEx pension plan to ensure it remains one of the best funded retirement programs in the country.
  • Investing $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.

FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States. – Jan. 26 2018, FedEx press release

Chipotle Mexican Grill (Multiple locations in New Hampshire) – Bonuses ranging from $250 to $1,000; increased employee benefits; $50 million investment in existing restaurants.

Comcast (Multiple locations in New Hampshire) -- $1,000 bonuses; nationwide, at least $50 billion investment in infrastructure in next five years.

U-Haul (Multiple locations in New Hampshire) – $1,200 bonuses for full-time employees, $500 for part-time employees.


35 Percent: Buttigieg Wants USA to Have the Highest Corporate Tax Rate in the Developed World

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Posted by John Kartch on Monday, February 10th, 2020, 10:50 AM PERMALINK

On Sunday Pete Buttigieg repeated his call for a drastic tax increase on U.S. companies. He wants to raise the 21% corporate tax rate all the way up to 35% by repealing the Tax Cuts and Jobs Act. This would give the U.S. the highest corporate tax rate in the developed world.

"We can make sure that we reverse the corporate tax cuts of the Trump era and ask the wealthy to pay their fair share," Buttigieg said during a town hall in Nashua, New Hampshire on Sunday.

Buttigieg has formally called for the repeal of the entire Tax Cuts and Jobs Act.

As reported by CNBC on Jan. 10:

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.

Before President Trump signed the Tax Cuts and Jobs Act into law, the U.S. had the highest corporate tax rate in the developed world: 35 percent. The tax cuts permanently reduced the corporate tax rate to a more competitive 21 percent. 

State corporate taxes average 6.0 percent across the U.S., so if Buttigieg reversed the tax cuts he would end up imposing a combined average corporate rate of 41 percent. 

This would give the U.S. a much higher corporate tax rate than the United Kingdom (19 percent), China (25 percent), Canada (26.8 percent), and Ireland (12.5 percent). In fact, Buttigieg’s approach would impose a tax rate much higher than the current combined corporate rate across the 36 member Organisation for Economic Development and Cooperation (OECD), which is currently 23.7 percent.

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

In addition, Buttigieg has called for a full repeal of the Tax Cuts and Jobs Act. Such repeal would hit the middle class hard.

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 was the mayor of South Bend, households who made the state average income of $55,476 received a tax cut of around $1,438 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.


Fact Check: Chris Cuomo Lies About the Trump Tax Cuts on CNN

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Posted by John Kartch on Monday, February 10th, 2020, 12:54 AM PERMALINK

Chris Cuomo lied about the Tax Cuts and Jobs Act, claiming that "mom and pop" didn't see the benefits, while only corporations saw benefits from the tax cut.

"So, let's look at what [Trump] has done. He's been rolling back regulations. He's been cutting taxes. Who saw the benefit?  Not mom and pop down on main street, big corporations."

However, Cuomo is wrong in his suggestion that the middle class didn't see any benefits from the Trump tax cuts, and people from his own network even disagree with him.

When Joe Biden made the same suggestion, stating that the tax cuts only benefited the rich and corporations, The Washington Post fact checker gave him four Pinocchios.

“There’s a $2 trillion tax cut last year. Did you feel it? Did you get anything from it? Of course not. Of course not. All of it went to folks at the top and corporations," Joe Biden said in April.

"Most Americans received a tax cut," Glenn Kessler of WaPo wrote.

Still don't believe us? Take it from the other mainstream and left leaning outlets confirming the good news arising from the TCJA.

 

Nearly every 2020 Democratic presidential candidate has stated that they want to repeal the TCJA, which would hit the middle class.

The Democrat'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 their threats to raise taxes, visitwww.atr.org/HighTaxDems.


Joe Biden: "We Are Going To Get Rid of Fossil Fuels"

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Posted by John Kartch on Saturday, February 8th, 2020, 6:02 PM PERMALINK

Joe Biden said during a rally this week that he wants to "get rid of fossil fuels."

Biden said:

"We are going to get rid of fossil fuels."

Referring to protestors who interrupted the event, Biden said:

"That's okay, these guys are okay, they want to do the same thing that I want to do, they want to phase out fossil fuels and we're going to phase out fossil fuels.

Biden also said there would be "no more coal plants."

Biden's hostility to energy industry workers is nothing new, either. 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. 

Biden has also endorsed a fracking ban. 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?

The truth is, if a Democrat is elected in 2020, they would ban nuclear energy, gas powered cars, plastic straws, plastic bags, coal power plants, fracking, offshore drilling, pipeline building, exporting fossil fuels, and more. 

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

 


Amy Klobuchar Calls for An "Opioid Tax"

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Posted by John Kartch on Friday, February 7th, 2020, 9:58 PM PERMALINK

Amy Klobuchar on Friday called for a new "Opioid Tax" during the ABC Democrat debate.

"We can put a 2 cents per milligrams tax on opioids that brings in another $40 billion," Klobuchar said.

However, Klobuchar's tax on opioids would end up hurting those who use the medicine for legitimate purposes, since the burden of the tax would be borne by the consumer.

A report by Alex Brill and Women In Government shows that "the tax would do little to discourage inappropriate use, could have the unintended consequence of promoting illicit opioids for some, and would raise the cost of health care generally.”

New CDC data show that illicit fentanyl is what is killing people today.

As ATR has previously noted, a tax on opioid medicine would in fact make the illegal synthetic drug types even more attractive to the people suffering from addiction. 

Klobuchar's proposal is dangerous and would end up only harming more people by punishing them for using medicine needed for legitimate purposes.

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


Biden: I Will Raise Capital Gains Taxes

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Posted by John Kartch on Friday, February 7th, 2020, 9:17 PM PERMALINK

Joe Biden once again called for an increase in the capital gains tax during the NBC Democrat presidential debate tonight.

"I'm going to raise the capital gains rate so that you pay capital gains at what your tax rate is," Biden said.

Raising the capital gains tax isn't a new issue for Joe Biden, who has said that "every single solitary person" would be required to pay a 40 percent tax on capital gains.

Raising the capital gains tax would harm Americans’ ability to build a nest egg and hurt the value of their homes, farms, and businesses.

Biden’s comments and his long Senate voting record mean voters should expect him to push for capital gains tax hikes if elected. During his time in the Senate, Biden consistently voted against tax cuts on capital gains.

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 extending the 15 percent rate.

In 2012, then-Vice President Biden and President Obama insisted the cap gains rate revert to 20 percent.

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

Currently, long-term capital gains are taxed at zero percent, 15 percent, or 20 percent, depending on income level.

Households subject to Obamacare’s 3.8 percent Net Income Investment Tax end up paying a 23.8% rate. And under Biden’s cap gains scheme, such households will face a 43.4 percent rate.

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


Biden Calls Out Sanders on Medicare for All: "The idea that middle class taxes aren't going to go up is just crazy."

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Posted by John Kartch on Friday, February 7th, 2020, 9:12 PM PERMALINK

Joe Biden hit Bernie Sanders over his Medicare for All plan during the ABC Democrat presidential debate tonight.

"Bernie says that we have to bring people together and that we have to have Medicare for All. And he says he "wrote the damn thing" but he's unwillling to admit what that will cost...How much is it going to cost? Who is going to pay for it? It will cost more than the entire federal budget we spend now. More than the entire budget. The idea that middle class taxes aren't going to go up is just crazy," Biden said.

At one point last year, Biden said that Sanders Medicare for all plan  "is totally unrealistic and can’t be done."

Biden went on to press Sanders on how much his healthcare plan costs since he hasn't given Americans a price tag for the plan.

While Sanders refuses to give a price tag for his plan, he is quick to place the cost burden on the American people. 

Previously, Biden has given credit to Sanders for being “honest” about his Medicare for All plan, admitting that taxes on the middle class would go up as a result.

Sanders has said that he plans to tax all income over $29,000 to help cover the cost for Medicare for All, which has an estimated cost of $32 trillion to $36 trillion.

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


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