John Kartch

Invitation to Timbro Sharing Economy Index Launch -- Wednesday July 25 at Noon


Posted by John Kartch on Tuesday, July 10th, 2018, 12:15 PM PERMALINK

 

You are invited to the U.S. launch of the Timbro Sharing Economy Index. A new index from the Swedish think tank Timbro reveals the true size of the sharing economy worldwide.

Wednesday, July 25 from 12:00 – 1:15 PM (Lunch served)

Americans for Tax Reform – 722 12th Street NW, Sixth Floor

Featuring:

Alexander Funcke, Ph.D. – University of Pennsylvania

Lydia Wålsten -- Timbro

Grover Norquist – President, Americans for Tax Reform

Michael Farren -- Research Fellow, Study of American Capitalism at The Mercatus Center

Matthew Kiessling -- Vice President of Short Term Rental Policy, TravelTech

Philip Thompson -- IP & Trade Policy Expert, Property Rights Alliance

RSVP to John Kartch at jkartch@atr.org

“The Timbro Sharing Economy Index is the first global index of the sharing economy. The index has been compiled using traffic volume data and scraped data, and provides unique insight into the driving factors behind the peer-to-peer economy,” says head researcher Alexander Funcke, Ph.D. at the University of Pennsylvania.

Previous reports on the size of the sharing economy have employed surveys or self-reported indicators. For the Timbro Sharing Economy Index, researchers have collected monthly traffic data for 286 services in 213 countries. A complete count of active suppliers was also conducted for 23 of the 286 services using automated web scraping techniques, among them Airbnb.

RSVP to John Kartch at jkartch@atr.org


Costco Raises Starting Wage With Help from GOP Tax Cuts


Posted by John Kartch on Saturday, June 2nd, 2018, 5:08 PM PERMALINK


Costco will raise its starting wage thanks to help from the GOP tax cuts. The starting wage will rise by one dollar, to $14.00 or $14.50 per hour, depending on location. The company cited the Tax Cuts and Jobs Act -- passed by the GOP congress and signed by President Donald Trump -- as a factor in the raises.

As reported by the Wall Street Journal:

Costco Wholesale Corp. said Thursday it would raise its minimum wage and boost pay for 130,000 U.S. store staff, intensifying the battle for workers in a tight U.S. job market.

The retail chain, second only to Walmart Inc. in terms of U.S. sales, said it would increase its starting hourly wages by $1 to $14 or $14.50 an hour. Other hourly workers will receive raises of between 25 cents and 50 cents. The new wages take effect on June 11.

Executives said the company was using some of its savings from last year’s U.S. tax overhaul to invest in its workforce. The legislation lowered the corporate tax rate, a boon for companies like Costco with large U.S. operations.

Richard Galanti, Costco’s finance chief, estimated the annual cost of the wage increases will be between $110 million and $120 million pretax. However, he said the company expects an effective tax rate of 28% this fiscal year, compared with about 35% last year.

The Costco action has been added to Americans for Tax Reform’s national list of examples of raises, bonuses, expansions, and utility rate cuts arising from the GOP tax cuts.

Costco has 520 locations in the United States, with stores in 44 states and Puerto Rico.

See also: Thanks to GOP tax cuts, utilities are passing tax savings on to customers

See also: ATR’s national list of tax reform good news

 

 

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Pan Am Gives Employees $1,100 Tax Reform Bonuses

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Posted by John Kartch on Wednesday, May 23rd, 2018, 5:57 PM PERMALINK

"Pan Am strongly believes that programs such as the TCJA and the 45G tax credit, supported by continued reduction in overly burdensome regulations, provide substantial incentives for investment in America’s growth."

Pan Am Systems, Inc. today awarded $1,100 tax reform bonuses to 719 employees.

Pan Am Systems, Inc. is a diversified holding company. Its subsidiaries include Pan Am Railways – the nation’s largest regional rail carrier by mileage operating in five states; Perma Treat Corporation – a wood products manufacturer, including railroad ties, and Pan Am Brands, a trademark licensing company.

According to a company press release:

In an effort to highlight the benefits of the landmark Tax Cuts and Jobs Act (“TCJA”), Pan Am Systems, Inc. is pleased to announce that it will be issuing a one-time bonus of $1,100.00 to each employee of the company and its subsidiaries, effective today. This bonus is intended to; (a) acknowledge the importance of our employees; and (b) provide those employees with additional compensation to use as they elect.

As noted by the President, the TCJA is intended to make resources available for investment by businesses that will have downstream effects of expanding and creating wealth among all citizens. Pan Am shares this goal and is committed to future capital investment to foster growth of the company. Pan Am strongly believes that programs such as the TCJA and the 45G tax credit, supported by continued reduction in overly burdensome regulations, provide substantial incentives for investment in America’s growth. – May 23, 2018 Pan Am Systems, Inc. press release

Pan Am is the latest addition to the list of tax reform good news at https://www.atr.org/list

Photo Credit: BMRR- Own Work

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Seattle Tax Hike Proponents Chant "We'll be back for more!"


Posted by John Kartch on Tuesday, May 15th, 2018, 11:48 AM PERMALINK

On Monday the Seattle city council passed a massive new tax hike which will hit local companies with $47 million in additional taxes each year. But this wasn't enough for the tax hike pushers.

They chanted: "We'll be back for more! We'll be back for more!"

Americans for Tax Reform president Grover Norquist issued the following statement:

"Seattle just told the world that if you bring jobs to Seattle, the tax and spenders in the city will tax them. A little now. More later. Better to invest in a different city, perhaps a different state."

As correctly noted by Amazon Vice President Drew Hardener, "The city does not have a revenue problem — it has a spending efficiency problem."

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Washington D.C. Examples of Tax Reform Good News

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Posted by John Kartch on Monday, May 7th, 2018, 4:00 PM PERMALINK

Thanks to the Tax Cuts and Jobs Act passed by the Republican congress and signed by President Donald Trump, 90 percent of wage earners have higher take-home pay. And companies of all sizes are already giving bonuses and raises and expanding the scope of their operations. 

Below are several examples of tax reform good news in Washington, D.C. (Additions to this list can be sent to jkartch@atr.org)

Pepco (Washington, DC) – The utility will pass along tax savings to customers:

Pepco today announced they will file with the Public Service Commission of the  District of Columbia in early February, outlining plans to provide annual tax savings to more than 296,000 electric customers in the District of Columbia. If approved, Pepco would plan to begin providing a credit lowering customer bills starting in the first quarter of 2018.       

The tax savings are the result of federal tax reductions under the new Tax Cuts and Jobs Act, which was signed into law on Dec. 22, 2017, and became effective on Jan. 1, 2018. The decrease in the Corporate Tax Rate from 35 percent to 21 percent reduces the amount of federal income tax Pepco will have  to pay. 

“The tax law will result in lower bills for our customers and lower taxes for Pepco,” said Dave Velazquez, President and CEO, Pepco Holdings, which includes Pepco. – Jan. 5 2018, Pepco press release

Washington Gas Light (Washington, DC) – The utility will pass tax cut savings on to customers:

The legislation cuts the federal corporate income tax rate from 35% to 21% effective January 1, 2018. This tax cut, in turn, reduces the cost of service for many of Virginia’s major electric, gas and water utilities. Utility rates paid by customers are based on the cost of service.

To preserve the savings from this tax cut for customers, the Commission ordered all applicable Virginia utilities to account for the tax savings by accruing a regulatory liability on the utility’s books. The tax savings will thus be quantified and available to be passed on to customers in subsequent rate proceedings.

The utilities subject to the Commission’s order serve millions of Virginia residential and business customers. They include Virginia-American Water Company; Aqua Virginia, Inc.; Washington Gas Light; Columbia Gas of Virginia; Virginia Natural Gas; Roanoke Gas; Atmos Energy; Southwestern Virginia Gas; Appalachian Natural Gas Distribution; Kentucky Utilities; Appalachian Power Company; and Virginia Electric and Power Company. –January 8, 2018, Virginia SCC Press Release

Walmart - Washington D.C. employees at 3 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 (91 locations in Washington, D.C.) – $500 stock grants for all  retail employees, $2,000 stock grants for store managers, and varying plant and support center employee stock grants, totaling more than $100 million in stock grants. Nationally, 8,000 new retail jobs and 500 new manufacturing jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave.

T.J. Maxx – (Four locations in Washington, D.C.) – Tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and increased 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

AT&T $1,000 bonus to 222 D.C. employees; Nationwide, $1 billion increase in capital expenditures.  

Apple (One store location in Washington, D.C.) -- $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.

Lowe's -- 150+ employees at one store in Washington, D.C. -- 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 (One location in Washington, D.C.) - Tax reform bonuses for employees.

Best Buy -- Two stores in Washington, D.C. - $1,000 bonuses for full-time employees; $500 bonuses for part-time employees.

Bank of America (Three locations in Washington, D.C.) - $1,000 bonuses. 

Home Depot - One location in Washington, D.C., bonuses for all employees, up to $1,000.

Dollar Tree, Inc. (Multiple locations in Washington, D.C.) Nationwide, $100 million investment in raising base wages, enhanced benefits, including maternity leave for qualifying employees and employee training. 

Waste Management Inc. (Locations in Washington, D.C.) -- $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

Chipotle Mexican Grill (Multiple locations in Washington, D.C.) - Bonuses ranging from $250 to $1,000; increased employee benefits; $50 million investment in existing restaurants.

U-Haul (Multiple locations in Washington, D.C.) - $1,200 bonuses for full-time employees, $500 for part-time employees.

FedEx (Multiple locations in Washington, D.C.) – 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

McDonald’s (25+ locations in Washington, D.C.) – Increased tuition investments which will provide educational program access for 400,000 U.S. employees. $2,500 per year (up from $700) for crew working 15 hours a week, $3,000 (up from $1,050) for managers, and more:

McDonald’s Corporation today announced it will allocate $150 million over five years to its global Archways to Opportunity education program. This investment will provide almost 400,000 U.S. restaurant employees with accessibility to the program as the company will also lower eligibility requirements from nine months to 90 days of employment and drop weekly shift minimums from 20 hours to 15 hours. Additionally, McDonald’s will also extend some education benefits to restaurant employees’ family members. These enhancements underscore McDonald’s and its independent franchisees’ commitment to providing jobs that fit around the lives of restaurant employees so they may pursue their education and career ambitions.

The Archways to Opportunity program provides eligible U.S. employees an opportunity to earn a high school diploma, receive upfront college tuition assistance, access free education advising services and learn English as a second language.  

“Our commitment to education reinforces our ongoing support of the people who play a crucial role in our journey to build a better McDonald’s,” said Steve Easterbrook, McDonald’s President and CEO. “By offering restaurant employees more opportunities to further their education and pursue their career aspirations, we are helping them find their full potential, whether that’s at McDonald’s or elsewhere.”

Accelerated by changes in the U.S. tax law, McDonald’s increased investment in the Archways to Opportunity Program includes:

    • Increased Tuition Investment:
      • Crew: Eligible crew will have access to $2,500/year, up from $700/year.
      • Managers: Eligible Managers will have access to $3,000/year, up from $1,050.
      • Participants have a choice for how they apply this funding – whether it be to a community college, four year university or trade school. There is no lifetime cap on tuition assistance – restaurant employees will be able to pursue their education and career passions at their own pace. The new tuition assistance is effective May 1, 2018 and retroactive to January 1, 2018.
    • Lowered Eligibility Requirements: Increase access to the program by lowering eligibility requirements from nine months to 90 days of employment. In addition, dropping from 20 hours minimum to 15 hours minimum (roughly two full time shifts) per week to enable restaurant employees more time to focus on studies.
    • Extended Services to Families: Extension of Career Online High School and College Advisory services to restaurant employees’ family members through existing educational partners Cengage and Council for Adult and Experiential Learning (CAEL).
    • Additional Resources: Career exploration resources for eligible restaurant employees to be available later this year.
    • Creation of an International Education Fund: Grants to provide local initiatives and incentives in global markets to further education advancement programs.
       

“Since its inception, Archways to Opportunity was meant to match the ambition and drive of restaurant crew with the means and network to help them find success on their own terms,” said David Fairhurst, McDonald’s Chief People Officer. “By tripling tuition assistance, adding education benefits for family members and lowering eligibility requirements to the equivalent of a summer job, we are sending a signal that if you come work at your local McDonald’s, we’ll invest in your future.”

After launching in the U.S. in 2015, Archways to Opportunity has increased access to education for over 24,000 people and awarded over $21 million in high school and college tuition assistance. Graduates have received college degrees in Business Administration, Human Resources, Communications, Accounting, Microbiology and more. – March 29, 2018 McDonald’s Corporation press release excerpt 

Wells Fargo (22 locations in Washington D.C.) - Raised base wage from $13.50 to $15.00 per hour; $400 million in charitable donations for 2018; $100 million increased capital investment over the next three years.

Note: If you know of other Washington D.C. examples, please email John Kartch at jkartch@atr.org 

The running nationwide list can be found at www.atr.org/list

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Wichita Railway Services Gives Nation’s Highest Tax Cut Bonuses

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Posted by John Kartch on Tuesday, April 3rd, 2018, 2:05 PM PERMALINK

In February, Wichita Railway Services LLC president and CEO Bob Aldrich summoned his five employees to his office.

“I called them into the office which is always fun. We are like a big family here. We are constantly pulling each other’s chain,” said Aldrich in an interview with Americans for Tax Reform.

Each employee was handed an envelope. Inside each envelope was a tax cut bonus, ranging from $3,000 to $6,000. To date, these are the highest tax cut bonuses in the country, according to a national list maintained by ATR.

The payment of the bonuses was first reported by the Wichita Business Journal, which noted the bonuses were from “funds that would have otherwise gone toward corporate income tax.”

Wichita Railway Services “buys and sells railroad car parts to repair and build rail cars,” said Aldrich in the ATR interview. “You can come to us for just about every railroad car part you can think of. We ship same day or next day on most parts.”

Regarding the bonuses, Aldrich says he “just wanted to say thanks” to his employees. And the payments should help the local economy. “What they’ll do with the bonuses is make purchases back in our local community and that’s a very good thing. Economics 101,” said Aldrich.

Aldrich started the company in January 2013 with help from a $12,000 loan from his mother-in-law. The company has grown and had sales of about four and half million dollars in 2017.

“We give back as much as we can. I believe in it. We are a family environment,” said Aldrich. “My crumbs are a little bit better than Pelosi thinks.”

Wichita Railway Services is the latest addition to the national list of companies giving bonuses, pay raises, increased 401(k) matches and more due to the Tax Cuts and Jobs Act passed by the Republican House and Senate and signed by President Donald Trump.

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Gun Tax Bill Doubles Federal Gun Tax, Quintuples Ammo Tax


Posted by John Kartch on Friday, March 2nd, 2018, 4:00 PM PERMALINK

Gun Tax Bill Sponsor: "I would like to outlaw them altogether."

Congressional Democrats have introduced a bill to radically increase the federal excise tax on guns and ammunition. The bill’s sponsor has acknowledged he would like to make guns cost prohibitive and “outlaw them altogether.”

The bill, H.R. 5103, does the following:

-Doubles the federal excise tax on pistols and revolvers, from 10 percent to 20 percent.

-Nearly doubles the federal excise tax on shotguns and rifles, raising it from 11 percent up to 20 percent.

-Nearly quintuples the federal excise tax on ammunition, raising it from 11 percent up to 50 percent.

The bill is sponsored by Chicago-area Congressman Danny Davis (D-Ill.) and has nine co-sponsors, all Democrats.

In an interview with Sirius XM Patriot’s Kerry Picket, Davis made shocking admissions: He wants to outlaw guns and doesn’t mind if low-income Americans are unable to have guns due to his gun tax increase:

Kerry Picket, Sirius XM Patriot:  “Now some would argue that then guns and ammunition would only be available to those with money, those who are wealthy. And that those who are in the lower classes as far as financial terms are concerned would not be able to afford such weapons. Tell me about that.”

Congressman Danny Davis (D-Ill.):  “Well I would be just as pleased if neither group were able to get them [guns]. So what I am saying is it doesn’t pose an issue for me because I would like to outlaw them altogether. I am saying I would like to make it where nobody except military personnel would ever have access to these weapons. So it wouldn’t bother me that one category of people couldn’t get them even if the other one was willing to pay the high price for them. Then we use that money for services that are needed and people could make use of them.”

Picket: “So rich people only could own firearms?”

Congressman Davis:  “So if rich people could 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 would want to prevent all people from getting them. 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.”

Needless to say, Americans for Tax Reform opposes the bill. “This bill, and the comments of its author, make clear that Democrats just want to tax the Second Amendment out of existence,” said Grover Norquist, president of Americans for Tax Reform.

 

 


Dems Push Steep Federal Gun Tax Hike

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Posted by John Kartch on Sunday, February 25th, 2018, 11:39 PM PERMALINK


This week congressional Democrats will introduce a bill to impose a steep federal tax hike on firearms and ammunition. The bill, to be introduced by Representative Danny Davis (D-Illinois), roughly doubles the federal tax on firearms and nearly quintuples the federal tax on ammunition.

As reported by the Chicago Sun-Times:

U.S. Rep. Danny Davis, joined by Democratic gubernatorial hopeful Chris Kennedy, announced Sunday he plans to introduce a bill this week that would raise federal taxes on the purchase of guns and ammunition.

The Gun Violence Prevention and Safe Communities Act would increase federal excise taxes on shells and cartridges from 11 percent to 50 percent. It also calls for an increase in taxes on the sale of pistols and revolvers from 10 percent to 20 percent.

Taxes on other firearms, including assault weapons, would rise from 11 percent to 20 percent under the legislation Davis said he plans to introduce Tuesday.

Davis introduced a similar bill in 2015 with 12 co-sponsors, all Democrats. On Sunday, the Chicago-based congressman ramped up his anti-gun rhetoric:

“There’s no reason to have the ability for individual citizens to walk around with assault weapons,” Davis said, noting that a goal of the legislation is to make buying bullets for such weapons cost prohibitive.

Americans for Tax Reform opposes the bill. “Democrats are seeking to tax guns out of existence," said Grover Norquist, president of Americans for Tax Reform.

“Now that the GOP tax cut has benefited 90% of Americans, the one danger facing the Republican Congress is the ‘intensity gap.’ The Democrats have decided to solve this problem for Republicans by targeting gun owners and taxpayers in the same futile gesture: a threatened tax on guns."

See also:

Newly Released Footage Shows Hillary's 25% Gun Tax Endorsement

Hillary in 1993: Let's Double the Gun Tax

$1,000 Gun Tax Pushed as "Role Model" for States

 

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$4,000 Bonuses! Company Gives Employees Highest Tax Reform Bonuses to Date


Posted by John Kartch on Saturday, February 10th, 2018, 12:00 PM PERMALINK

Thanks to the Tax Cuts and Jobs Act passed by the Republican congress and signed by President Donald Trump, Houston-based Insperity is providing $4,000 tax reform bonuses to employees who have been with the company for more than two years. This is the highest bonus amount among the 300-plus companies tracked by Americans for Tax Reform at www.atr.org/list.

The $4,000 bonuses set the new benchmark and invite a challenge to companies to be the first to give $5,000 bonuses.

Employees who have been with Insperity for less than two years will receive tax reform bonuses of $1000, $2000, or $3000.

Insperity is an American success story. It was founded in 1986, launched from a tiny home office, with just two employees. Today the company has 60 offices and 2,700 employees across the United States.

The good news was announced to employees via internal message from CEO Paul Sarvadi. ATR obtained the message, which is reproduced below. A company press release confirming the details can be found here.

To all Insperity Employees,

In December Congress passed a tax reform bill which among other changes, lowered the tax rate for corporations. Insperity is one of those corporations which will benefit accordingly. This change leaves more of our hard earned dollars available after tax to invest in our business as we see fit. We believe all constituencies should benefit from this change including our amazing employees.

Therefore, as was communicated with this morning’s news release we will be paying a one-time bonus as a result of the U.S. tax reform act. We plan for this bonus to be paid on Wednesday February 14, 2018. This bonus is intended for

 ·full-time employees in grades 14 and below with hire dates 9/30/2017 or before and eligible to receive the 2017 AP payout and eligible to participate in the 2015 AIP Program, and

 ·full-time employees in grades 14 and below with hire dates, 10/01/2017 to 02/07/2018 and are eligible to participate in the 2018 AIP Program, and

·Business Performance Advisors and Business Performance Consultants with hire dates 02/02/2018 or before

Below is the overview for the bonus payout

Hire Date                                        Payout

12/31/2015 or before                      $4,000

01/01/2016 to 12/31/2016              $3,000

05/01/2016 to 09/30/2017              $2,000

10/01/2017 to 02/07/2018              $1,000

The tax reform bonus payments will be in addition to the normal AIP program and disbursed similar to your regular paycheck.

Thank you for your hard work and dedication and let’s keep our strong performance going!

PJS

If your company gave bonuses, pay raises, 401k match hikes etc. and you do not see the company name listed at www.atr.org/list please send details to jkartch@atr.org

 

 

 

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JFK vs. Joe Kennedy III on Tax Cuts

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Posted by John Kartch on Tuesday, January 30th, 2018, 5:14 PM PERMALINK

Norquist: “Joe Kennedy III giving a response to the State of the Union painfully reminds all Americans of how much the Democrat party has changed since President John F. Kennedy.”

JFK: “Even modest increases in take-home pay enable consumers to undertake larger periodic payments on major purchases, as well as to increase purchases of smaller items--and either type of purchase leads to further income and employment.” -- President John F. Kennedy, Special Message to the Congress on Tax Reduction and Reform, January 24, 1963 [Link]

Pelosi: “Crumbs.”

Schumer: “Crumbs.”

JFK: “This administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes to be enacted and become effective in 1963.” – President John F. Kennedy, Address to the Economic Club of New York, December 14, 1962 [Link]

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.” – President John F. Kennedy, Address to the Economic Club of New York, December 14, 1962 [Link]

Joe Kennedy III: “This bill asks Americans to scrape their bank accounts so the Trump Administration can turn around and use that money to give to the wealthiest among us and make them even wealthier.” (Translation: Derp) -- Joe Kennedy III, November 2017 [Link]

“Joe Kennedy III giving a response to the State of the Union painfully reminds all Americans of how much the Democrat party has changed since President John F. Kennedy,” said Grover Norquist, president of Americans for Tax Reform. “JFK respected working Americans and fought to reduce taxes on all Americans. JFK rejected the politics of envy and class hatred. How the Democrat party has changed. For the worse.”

 

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