Topic: Taxes
NO MORE TAXES!!
Posted on Dec. 19, 12 | 01:38 PM by Andrew Roth | Topic: Taxes
This coalition letter was sent to the Hill this morning.
NO MORE TAXES!!!!!!!!!
As leaders of broad based American citizen groups we call upon Republican House Members to vote no on Speaker Boehner’s Tax Hike known as “Plan B.” This tax increase bill is just like the tax increase proposal Nancy Pelosi offered last year on May 23rd.
When the American people voted to return the Republican majority in the House last month we sent you to cut spending. Instead, you are now voting on the Pelosi plan to increase taxes next year.
Edwin Meese III, former Attorney General
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NO MORE TAXES!!!!!!!!!
As leaders of broad based American citizen groups we call upon Republican House Members to vote no on Speaker Boehner’s Tax Hike known as “Plan B.” This tax increase bill is just like the tax increase proposal Nancy Pelosi offered last year on May 23rd.
Speaker Boehner, President Obama, Nancy Pelosi and too many Members of the Republican conference have forgotten that the problem in Washington is too much spending and not too little taxation.
When the American people voted to return the Republican majority in the House last month we sent you to cut spending. Instead, you are now voting on the Pelosi plan to increase taxes next year.
We urge Members of the House to vote no on the procedural rule to stop the Pelosi/Boehner tax plan from coming to the House floor for a vote.
Edwin Meese III, former Attorney General
Brent Bozell, President, ForAmerica
Erick Erickson, Editor, RedState.com
Colin Hanna, President, Let Freedom Ring
J. Kenneth Blackwell, Ohio Faith & Freedom Coalition
Tony Perkins, President, Family Research Council
David N. Bossie, President, Citizens United
Alfred Regnery, President, The Paul Revere Project
William Wilson, President, Americans for Limited Government
Michael Needham, CEO, Heritage Action for America
Peter Thomas, Chairman, The Conservative Caucus
Amy Kremer, Chairman Tea Party Express
Richard Viguerie, Chairman, ConservativeHQ.com
David Y. Denholm, President, Public Service research Council
Becky Norton Dunlop, former Reagan Administration official
Gary Bauer, President, American Values
David Williams, President, Taxpayers Protection Alliance
David McIntosh, former Member of Congress, Indiana
T. Kenneth Cribb, former Domestic Advisor to President Reagan
Permalink: http://www.clubforgrowth.org/perm/?postID=16026
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Quote of the Day
Posted on Nov. 23, 11 | 08:58 AM by Andrew Roth | Topic: Taxes
Alex Tabarrok writes about how General Electric paid no taxes on its $14 billion in profits, and yet it filed a 57,000-page tax return. Great excerpt:
Consider the resources that GE spends to lowers its tax bill, not just the many millions spent on clever accounting and accountants and the many millions spent on lobbying but also the many inefficient ways that GE structures its businesses just to avoid paying taxes and the many millions it invests in socially wasteful projects just in order to produce privately valuable tax credits. Now add to that the allocational inefficiencies of taxing some firms at different rates than others and you have a corporate tax system which wastes a lot of resources and raises relatively little revenue. Indeed, a corporate tax system with a tax rate of zero could well be preferable as it would waste fewer resources and raise not much less revenue.
Permalink: http://www.clubforgrowth.org/perm/?postID=15655
Member Comments (2)
Consider the resources that GE spends to lowers its tax bill, not just the many millions spent on clever accounting and accountants and the many millions spent on lobbying but also the many inefficient ways that GE structures its businesses just to avoid paying taxes and the many millions it invests in socially wasteful projects just in order to produce privately valuable tax credits. Now add to that the allocational inefficiencies of taxing some firms at different rates than others and you have a corporate tax system which wastes a lot of resources and raises relatively little revenue. Indeed, a corporate tax system with a tax rate of zero could well be preferable as it would waste fewer resources and raise not much less revenue.
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Happy Holidays from the Obama Administration
Posted on Nov. 09, 11 | 09:21 AM by Andrew Roth | Topic: Taxes
In another idiotic move to depress the economy, the Obama Administration just announced that it was going to promote and improve the image of the free Christmas tree industry by placing a tax on Christmas trees! Here's an excerpt from the Heritage Foundation blog:
Yes, little Bobby, that's right. Obama just killed the Christmas spirit.
Permalink: http://www.clubforgrowth.org/perm/?postID=15640
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In the Federal Register of November 8, 2011, Acting Administrator of Agricultural Marketing David R. Shipman announced that the Secretary of Agriculture will appoint a Christmas Tree Promotion Board. The purpose of the Board is to run a “program of promotion, research, evaluation, and information designed to strengthen the Christmas tree industry’s position in the marketplace; maintain and expend existing markets for Christmas trees; and to carry out programs, plans, and projects designed to provide maximum benefits to the Christmas tree industry” (7 CFR 1214.46(n)). And the program of “information” is to include efforts to “enhance the image of Christmas trees and the Christmas tree industry in the United States” (7 CFR 1214.10).
To pay for the new Federal Christmas tree image improvement and marketing program, the Department of Agriculture imposed a 15-cent fee on all sales of fresh Christmas trees by sellers of more than 500 trees per year (7 CFR 1214.52). And, of course, the Christmas tree sellers are free to pass along the 15-cent Federal fee to consumers who buy their Christmas trees.
To pay for the new Federal Christmas tree image improvement and marketing program, the Department of Agriculture imposed a 15-cent fee on all sales of fresh Christmas trees by sellers of more than 500 trees per year (7 CFR 1214.52). And, of course, the Christmas tree sellers are free to pass along the 15-cent Federal fee to consumers who buy their Christmas trees.
Yes, little Bobby, that's right. Obama just killed the Christmas spirit.
Permalink: http://www.clubforgrowth.org/perm/?postID=15640
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Sen. Pat Toomey Talks About Tax Reform and the Super Committee
Posted on Sep. 27, 11 | 09:51 AM by Andrew Roth | Topic: TaxesThe Buffet Rule
Posted on Sep. 23, 11 | 12:21 PM by David Keating | Topic: Taxes
I read Charles Krauthammer's column today on Obama's new tax agenda, and my reaction is that Obama made a mistake when he said his tax plan would follow the Buffett rule, after investor Warren Buffett.
He has too many "T"s in the rule.
It actually follows what I would call the buffet rule, as in the all-you-can-eat rule where the guests (in this case Obama and the Democratic leadership) hope to serve themselves so they can spend a lot more! In this case, there is a smorgasbord of new taxes that will give our economy indigestion.
As Krauthammer concludes, "
Permalink: http://www.clubforgrowth.org/perm/?postID=15570
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He has too many "T"s in the rule.
It actually follows what I would call the buffet rule, as in the all-you-can-eat rule where the guests (in this case Obama and the Democratic leadership) hope to serve themselves so they can spend a lot more! In this case, there is a smorgasbord of new taxes that will give our economy indigestion.
As Krauthammer concludes, "
The authentic Obama is a leveler, a committed social democrat, a staunch believer in the redistributionist state, a tribune, above all, of “fairness” — understood as government-imposed and government-enforced equality.
That’s why “soak the rich” is not just a campaign slogan to rally the base. It’s a mission, a vocation. It’s why, for all its gratuitous cynicism and demagoguery, Obama’s populist Rose Garden lecture on Monday was delivered with such obvious — and unusual — conviction.
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The Great Political Migration
Posted on Aug. 29, 11 | 03:50 PM by David Keating | Topic: Taxes
Michael Medved has a good article in The Daily Beast that asks this question:
Good question!
As he points out, nearly 900,000 people moved out of President Barack Obama's home state of Illinois between 2009 and 2010, while another 782,000 moved into Texas.
Permalink: http://www.clubforgrowth.org/perm/?postID=15538
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If liberal approaches work so well, why are so many people choosing to pack their bags and desert some of the most big-government states in the union?
Good question!
As he points out, nearly 900,000 people moved out of President Barack Obama's home state of Illinois between 2009 and 2010, while another 782,000 moved into Texas.
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Share of taxes paid by the Top 1%, and more....
Posted on Jul. 01, 11 | 10:43 AM by David Keating | Topic: Taxes
I appeared on C-Span this morning, and at least one caller railed that the rich were not paying their share of taxes and that they were paying less than those in the lower middle class. On the program I said I would post data.
In 1980, before Reagan won his election and passed his tax cuts, the share of all income taxes paid by the top 1% was 19%. The top 5% paid about 37% of the total.
The figures today? The top 1% pay 38% and the top 5% pay nearly 59% of the income tax collected!
So all these decades of tax cuts for the rich produced a larger share of the tax burden paid by the rich.
Complete figures here.
Permalink: http://www.clubforgrowth.org/perm/?postID=15299
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In 1980, before Reagan won his election and passed his tax cuts, the share of all income taxes paid by the top 1% was 19%. The top 5% paid about 37% of the total.
The figures today? The top 1% pay 38% and the top 5% pay nearly 59% of the income tax collected!
So all these decades of tax cuts for the rich produced a larger share of the tax burden paid by the rich.
Complete figures here.
Permalink: http://www.clubforgrowth.org/perm/?postID=15299
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Chicago Merc Considers Fleeing Oppressive Illinois Taxes
Posted on Jun. 14, 11 | 11:28 AM by Ariel Judah | Topic: Taxes
Investor's Business Daily:
The company that owns Chicago's two largest futures exchanges is thinking about moving operations out of state to flee oppressive business taxes. Worried about climate change? How about the business climate?
The days when Chicago was the "hog butcher to the world" have long since passed, replaced by its role as a leading financial trading center that is home to the Chicago Mercantile Exchange, also known as the Merc, and the Chicago Board of Trade.
On Wednesday, Terence Duffy, chairman of CME Group Inc., which owns the two institutions as well as the New York Mercantile Exchange, and Chief Financial Officer James Parisi announced the financial giant is considering moving operations and jobs out of the state in response to massive increases in state taxes. Permalink: http://www.clubforgrowth.org/perm/?postID=15216
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The company that owns Chicago's two largest futures exchanges is thinking about moving operations out of state to flee oppressive business taxes. Worried about climate change? How about the business climate?
The days when Chicago was the "hog butcher to the world" have long since passed, replaced by its role as a leading financial trading center that is home to the Chicago Mercantile Exchange, also known as the Merc, and the Chicago Board of Trade.
On Wednesday, Terence Duffy, chairman of CME Group Inc., which owns the two institutions as well as the New York Mercantile Exchange, and Chief Financial Officer James Parisi announced the financial giant is considering moving operations and jobs out of the state in response to massive increases in state taxes. Permalink: http://www.clubforgrowth.org/perm/?postID=15216
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Wall Street Journal: Stephen Moore: A 62% Top Tax Rate?
Posted on May. 27, 11 | 09:03 AM by Barney Keller | Topic: Taxes
Stephen Moore explains:
Media reports in recent weeks say that Senate Democrats are considering a 3% surtax on income over $1 million to raise federal revenues. This would come on top of the higher income tax rates that President Obama has already proposed through the cancellation of the Bush era tax-rate reductions.
If the Democrats' millionaire surtax were to happen—and were added to other tax increases already enacted last year and other leading tax hike ideas on the table this year—this could leave the U.S. with a combined federal and state top tax rate on earnings of 62%. That's more than double the highest federal marginal rate of 28% when President Reagan left office in 1989. Welcome back to the 1970s.
Click here to read more.
Permalink: http://www.clubforgrowth.org/perm/?postID=15143
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Media reports in recent weeks say that Senate Democrats are considering a 3% surtax on income over $1 million to raise federal revenues. This would come on top of the higher income tax rates that President Obama has already proposed through the cancellation of the Bush era tax-rate reductions.
If the Democrats' millionaire surtax were to happen—and were added to other tax increases already enacted last year and other leading tax hike ideas on the table this year—this could leave the U.S. with a combined federal and state top tax rate on earnings of 62%. That's more than double the highest federal marginal rate of 28% when President Reagan left office in 1989. Welcome back to the 1970s.
Click here to read more.
Permalink: http://www.clubforgrowth.org/perm/?postID=15143
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The Immorality of Estate Tax
Posted on Dec. 21, 10 | 03:14 PM by Andrew Roth | Topic: TaxesTax Compromise Passes the House, Heads to the President's Desk
Posted on Dec. 17, 10 | 08:46 AM by Andrew Roth | Topic: Taxes
The House vote was 277-148. The Democrats supported it 139-112 while the Republicans voted 138-36.
Permalink: http://www.clubforgrowth.org/perm/?postID=14600
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