Keyword: taxcut

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  • The United States Is Already a Low-Tax Country(barf alert)

    12/13/2017 4:14:00 PM PST · by Ennis85 · 10 replies
    The Atlantic ^ | December 12th 2017 | Annie Lowrey
    The United States is a low-tax country. This is not a widely accepted point, granted. The share of Americans who say that their taxes are too high is at roughly 50 percent, a 15-year peak. Moreover, Republicans have sold their tax bill as an essential tax cut for America’s income-starved, tax-strangled families and businesses, promising to deliver $4,000 a year to the average family and huge boosts to corporate investment. “Today, America has one of the least competitive tax rates on planet Earth, 60 percent. Think of that, 60 percent higher than the average in the developed world. So our...
  • Home Depot just showed who will gain the most from corporate tax cuts

    12/08/2017 11:10:51 AM PST · by spintreebob · 99 replies
    WAPO ^ | 12-7-2017 | David J. Lynch
    With unemployment low and demand for new homes high, a company like Home Depot could be spending most of its surplus billions on raises for workers or the rollout of new stores. Instead, it is using $15 billion to buy back shares of its own stock, a move that will reward shareholders including chief executive Craig Menear. Home Depots statement was a reminder that corporate America may have other plans for that cash. Several companies already have indicated that they will use excess funds to pay off debt, increase dividend payments or repurchase their own shares rather than create new...
  • GOPs corporate tax cut will be a boom for the economy

    12/04/2017 4:49:08 PM PST · by TBP · 8 replies
    The Blaze ^ | December 4, 2017 | Glenn Beck
    One of the most important provisions in the GOPs plan for a tax overhaul is a big cut to the corporate tax rate. The legislation would slash the corporate tax rate from 35 percent to 20 percent. That is huge, Glenn said on todays show. If Trump signs this into law youll see a boom to the economy. The bill passed in the Senate on Friday and next needs to return to the House for a vote. Republicans are under pressure to merge the Senate and Houses respective plans for tax reform before the end of the year.
  • Wall Street set for a positive open with Dow futures up triple digits, as tax plan lifts sentiment

    12/04/2017 1:27:42 AM PST · by abb · 11 replies ^ | December 4, 2017 | Alexandra Gibbs
    U.S. stock index futures pointed to a strong positive open on Monday, as sentiment was boosted by news that the U.S. Senate narrowly passed a major tax bill over the weekend. Consequently, the news put a smile on investors faces ahead of Monday's open, with the Dow Jones industrial average pointing to higher open, by more than 200 points, at 4:00 a.m. ET. U.S. stocks finished in the red Friday after a report emerged stating that former national security advisor Michael Flynn was directed by Trump to talk to Russians. Shifting to Monday, investors will be poring over news that...
  • Nancy Pelosi says sexual harassment controversy giving Republicans 'cover' on tax reform

    11/26/2017 10:14:41 AM PST · by Zakeet · 31 replies
    Washington Examiner ^ | November 26, 2017 | Josh Siegel
    House Minority Leader Nancy Pelosi on Sunday chided NBC's Chuck Todd for not asking her about tax reform during his interview of her that focused mostly on sexual misconduct claims made against members of Congress. Todd was set to close the interview, airing on "Meet the Press," without asking about the Republican tax reform plan, when Pelosi cut him off. "You mean we're not even going to talk about taxes?" Pelosi said. "You see, you have fallen into the place, where they [Republicans] are doing something that is going to increase the debt enormously, it's going to be a job...
  • Ivanka in Bayville: Tax reform will be the law of unintended consequences | Mulshine

    11/27/2017 6:29:03 PM PST · by Coleus · 22 replies
    Star Ledger ^ | 11.14.17 | Paul Mulshine
    -snip- But let me focus on one historical instance of a tax-reform plan gone wrong. That was pointed out to me by my old high-school buddy Jim Byrnes, who was just re-elected to the township council of Berkeley Township, which includes Bayville as well as a chunk of oceanfront across the bay. It concerns big boats. Back in 1991, President George "Read My Lips; No New Taxes" Bush signed into law a bill meant to reduce the deficit by imposing a 10 percent "luxury tax" on yachts costing more than $100,000. What Bush forgot is that yachts really are a...
  • Why A Corporate Tax Cut Won't Boost Economic Growth

    11/27/2017 11:49:33 AM PST · by SeekAndFind · 71 replies
    Forbes ^ | 11/26/2017 | Patrick Watson
    The House and Senate are considering tax legislation that will add $1.5 trillion to annual deficits over the next 10 years, according to their own numbers. This is okay, we're told, because the tax cuts will stoke economic growth, delivering added tax revenue that offsets the rate reductions. Note the bigger point here. Republicans still say they dont like deficits but apparently, this particular plan lets them cut taxes without adding more debt. Its a miracle. Is their claim really true? Will the GOP tax plans boost economic growth? Thats the 1.5-trillion-dollar question. Theory vs. Reality The Republican plans...
  • Taxing Daylight: The Government Gives and the Government Takes Away

    11/05/2017 4:30:48 AM PST · by NOBO2012 · 8 replies
    MOTUS A.D. ^ | 11-5-17 | MOTUS
    I resent the fact that legislative bureaucrats at some point in the distant past determined that we need more daylight in the evening hours - during the time of year that days are already naturally longer. What about those of us who love moonlight? Every year we are deprived of extra time to enjoy it. And for what? Its been alleged that nobody has ever been able to articulate precisely and convincingly why we adopted daylight saving time in the first place. I think it was a conspiracy to put drive-in theatres out of business. This observation by an anonymous...
  • Republicans unveil tax plan, call for doubling deduction and cutting rates

    09/27/2017 11:35:34 AM PDT · by Jim Robinson · 372 replies
    Fox News ^ | Sept 27, 2017
    Congressional Republicans on Wednesday unveiled the framework for their long-awaited tax-reform plan, which simplifies the tax system and cuts rates for businesses -- while attempting to boost household incomes by nearly doubling the standard IRS deduction used by most Americans. Today, we move one step closer to fixing our broken tax code," House Speaker Paul Ryan, R-Wis., said. "This is our best opportunity in a generation to deliver real middle-class tax relief, create jobs here at home, and fuel unprecedented economic growth. The framework plan calls for increasing the standard deduction to $12,000 for individuals and $24,000 for families, which...
  • Why workers need a corporate tax cut

    08/16/2017 8:58:31 PM PDT · by TBP · 6 replies
    The New York Post ^ | August 15, 2007 | Betsy McCaughey
    Dont be bamboozled. You dont have to be a business owner to benefit from business tax cuts. If your goal is more take-home pay, these tax cuts will help you. Data from 72 countries over 22 years show that raising corporate-tax rates hurts workers, while countries that lower corporate taxes enable their workers to earn higher wages. What the Democrats class warriors arent telling you is that business tax rates in the United States are higher than in any other developed country, making it hard for American companies to compete for investment capital. That disadvantage is worsening as many European...
  • JFK and Reagan Aside, Isn't it time the media told the truth about the Bush Tax cuts?

    05/01/2017 8:10:05 AM PDT · by SeekAndFind · 13 replies
    American Thinker ^ | 05/01/2017 | Jack Hellner
    I feel like I am beating a dead horse on tax cuts, but facts are extremely important if we want to get the economy growing. I get extremely aggravated when I read material like the following paragraph by Paul Waldmen in the Washington Post, because it is so demonstrably false. Of course the notion that tax cuts dont pay for themselves is repeated so often that either the media has no idea that it is false or they dont care. My guess is they dont care because they have had almost 14 years to research the Bush tax cuts and...
  • Trump: Coming tax reform will be bigger 'than any tax cut ever'

    04/24/2017 10:20:41 AM PDT · by Sean_Anthony · 11 replies
    Canada Free Press ^ | 04/24/17 | Dan Calabrese
    Yuuuuuge Most of the media coverage, like this from CNBC, follows the current dopey trend of obsessing over how quickly the proposal will be done. Wednesday? Thursday? The following week? Maybe this is all about the spine-tingling drama of whether it will happen within Trumps first 100 days, since all of America waits with bated breath for the answer to that question. Er, yeah . . . But when it happens is not the point at all. Its what the plan consists of, and while Trump isnt dropping many details, hes certainly not being shy about establishing expectations:
  • Trump: Big League Tax Cut Coming Soon

    02/09/2017 4:10:16 PM PST · by Kaslin · 9 replies
    Rush ^ | February 9, 2017 | Rush Limbaugh
    RUSH: I mentioned this a couple days ago and the day before that, and even yesterday. And I asked some of you to call in and react to this, that is there a growing impatience among Trump supporters for what appears to be no movement on repealing Obamacare and tax cuts? We took some calls on this and it was not definitive in either way. Most of the people that called support Trump and so far still do 100%, and most of them said, Hey, its only Day 18, its only Day 19. Its not time to get panicky here....
  • The Trump Tax Cut: How Much, How Soon, How Certain, What's Likely and What's Up for Debate

    02/09/2017 3:59:27 PM PST · by SeekAndFind · 4 replies
    OZY ^ | 02/09/2017 | Grove Norquist
    The author is the founder and president of Americans for Tax Reform. During the 2016 Republican primaries, then-candidate Trump unveiled an outline for a huge tax cut. It was a grab bag of popular measures: Kill the Death Tax, repeal the Alternative Minimum Tax (AMT) and cut individual tax rates. All these have been Republican talking points for the last 20 years. The centerpiece of Trumps plan? To push the boundaries of a growing consensus that Americas 35 percent corporate income tax rate is too high. (The European average is about 25 percent.) The tax plan being constructed by the...
  • How Long Did It Take Reagan to Pass His Tax Cuts?

    02/06/2017 4:11:52 PM PST · by Kaslin · 25 replies
    Rush ^ | February 6, 2017 | Rush Limbaugh
    RUSH: The New York Post has an editorial today: Delaying Trumps Tax Cuts is a Huge Risk. This is a big deal to people. Theres news out there today that Trump said Obamacare might not be repealed until next year, 2018, and people are getting nervous. I know people that voted for Trump who voted for Trump not because of trade deals, not because of NAFTA and not because of vetting of the bad people. They voted Trump cause they want tax cuts, corporate and personal, and they want Obamacare repealed. And theyre not hearing much about it and theyre...

    02/28/2016 1:44:06 PM PST · by cdnerds · 595 replies ^ | 2/28/2016 | Drudge Report
  • China to Stimulate by Cutting Taxes

    12/28/2015 8:46:58 AM PST · by Lorianne · 15 replies
    Armstrong Economics ^ | 28 December 2015 | Martin Armstrong
    China is demonstrating that it is more practical than anyone else in the industrialized world. They have announced that they will “reasonably” set limits on new local government debt in 2016. Finance Minister Lou Jiwei said at a work conference in Beijing on Monday that they will actually limit local debt; something nobody else does. China will also adopt a much more flexible fiscal policy that will include gradually increasing the fiscal deficit ratio and expanding its budget deficit. So China will increase its debt in a gradual manner to try to stimulate the economic decline it is facing. These...
  • Trump Welcomes Herman Cain to Rally, Calls Him 'Mr. 9-9-9'

    10/10/2015 7:20:03 PM PDT · by Helicondelta · 10 replies
    CNN ^ | October 10, 2015
    Donald Trump met Saturday with Herman Cain -- whom the real estate mogul called "Mr. 9-9-9" -- and a group of African-American pastors on how to better engage African-American voters. After Cain addressed the crowd in Norcross, Georgia, Trump praised the former presidential candidate's "9-9-9" tax proposal from the 2012 campaign. "When he said 9-9-9, I said, 'What the hell is that?' But he had a good thing," Trump told those in attendance, referring to Cain as "Mr. 9-9-9." The 9-9-9 plan would have replaced almost all current taxes and with a 9% income tax, a 9% corporate tax and...
  • Cutting Michigan's Income Tax Would Also Lessen Corporate Welfare Burden

    10/05/2015 6:30:18 AM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 9/20/2015 | Jack Spencer
    Michigan lawmakers who would like to cut the states personal income tax rate may have found their way eased by a largely overlooked benefit: A rate cut would reduce the amount the state owes to corporations that are benefiting from extensive tax breaks and outright cash subsidies granted by the Michigan Economic Growth Authority during former Gov. Jennifer Granholm's administration. The states liability to these corporations was revealed earlier this year, and shocked lawmakers preparing to adopt a budget for the coming fiscal year. Under a program repealed in 2011, corporations were granted some $9.38 billion in tax credits. The...
  • Trump's zero-tax plan involves an I win letter

    09/28/2015 10:27:15 AM PDT · by vbmoneyspender · 66 replies
    CNBC ^ | 9/28/2015 | Reuters with
    The plan calls for eliminating federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000. If you fall under the no tax bracket you'll get to send a one-page letter to the IRS that says "I Win," Trump said. But the plan would also benefit businesses and the rich.