A recent press release from the office of Senator Jeff Flake (R-Ariz.) acknowledges Americans for Tax Reform as a supporter of the Small Business Investment Promotion Act the Senator introduced on Wednesday:
“The Small Business Investment Promotion Act (S. 1342), which would make permanent Section 179 of the tax code at levels that will encourage job creation and economic growth. Sens. Tom Udall (D-NM) and James Inhofe (R-OK) are original co-sponsors of the bill.
Section 179 allows businesses to deduct from their gross income – up to a set limit – the purchase price of qualified machinery, software and real property, among other investments, that they buy and place in service in a given tax year if the sum of those purchases does not exceed a specific amount set by law.”
Newsmax published an item from Americans for Tax Reform’s website on the high taxes that golfer Phil Mickelson will have to pay on winnings from the British Open:
"Without considering expenses, Mickelson will pay 61.12 percent taxes on his winnings, bringing his net take-home winnings to about $842,700. When expenses are considered (10 percent to caddy Jim "Bones" Mackay, airfare, hotel, meals, agent fees on endorsement income/bonuses — all tax deductible here and in the U.K.), his take-home will fall closer to 30 percent."
Bloomberg published a terrific article by Michael Tanner that brings light to the fact that it was liberal, big government that caused the destruction of Detroit: “Government, Not Globalization, Destroyed Detroit”
“In many ways, Detroit is a model of tax-and-spend liberalism. The city’s per-capita tax burden is the highest in Michigan. Detroit has the country’s highest property taxes on homes, the top commercial property tax and the second-highest industrial property tax.
The city’s income tax — 2.4 percent for residents, 1.2 percent for nonresidents and 2 percent for businesses — is the highest in Michigan. The income tax burden on residents is significantly higher than that for those who live in the surrounding area, which helps drive more affluent and successful residents out of the city. And Detroit is the only city in Michigan that has an excise tax on utility users.”