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Keyword: taxincrease

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  • Herbert Hoover and the largest tax increase in American History

    06/30/2018 10:06:38 AM PDT · by ProgressingAmerica · 27 replies
    I like how the constant harping and carping about tariffs these days gets invoked together with fearmongering about Smoot Hawley and the Great Depression. What is missing? The Revenue Act of 1932. After the 1929 crash there was a small tax cut, but this was overshadowed by Smoot Hawley just months later. In the middle of bad economic times, you simply don't raise taxes, and yes, a tariff is a tax. But let's get to the meat of the numbers, shall we? The Revenue Acts of 1918 and 1921 had a top tax rate of 73%. The Revenue Act of...
  • Tariffs Are Taxes

    03/04/2018 8:00:35 AM PST · by Kaslin · 84 replies
    Townhall.com ^ | March 4, 2018 | Larry Kudlow
    One of the ironies of trade protectionism is that tariffs and import quotas are what we do to ourselves in times of peace what foreign nations do to us with blockades to keep imports from entering our country in times of war. Or consider that we impose sanctions on U.S. enemies such as North Korea, Russia and Iran because we want them to feel the economic pain of being deprived of imports. But now we are imposing sanctions on our own country by punishing with tariffs in order to make Americans more prosperous. If ever there were a crisis of...
  • Mitch McConnell admits middle class America may see tax hike if new Republican Senate bill passes

    11/11/2017 10:45:21 PM PST · by Oshkalaboomboom · 33 replies
    Daily Mail ^ | Nov 11, 2017 | DAILYMAIL.COM REPORTER
    Senate majority leader Mitch McConnell is now admitting that some middle class Americans might see tax increases after all if the new Republican tax plan goes through. Kentucky Republican senator McConnell had previously stated that 'nobody in the middle class is going to a tax increase' under the new tax plan, but dialed back his assertion in a new interview. 'I misspoke on that,' McConnell told the New York Times on Friday, noting that it wasn't possible to guarantee that 'no one sees a tax increase.' McConnell went on to explain that what the Republicans were 'targeting levels of income...
  • Senate Republican tax plan may eliminate property tax deductions and delay corporate cut

    11/08/2017 7:28:05 PM PST · by Mariner · 144 replies
    The Los Angeles Times ^ | November 8th, 2017 | Lisa Mascaro and Jim Puzzanghera
    As they prepare to unveil their own sweeping tax plan, Senate Republicans are revisiting key provisions of the GOP House proposal, including possibly eliminating property tax deductions as well as state income tax deductions, increasing the size of child-care credits, offering more help to small businesses and having corporate tax cuts phase in or expire, according to those familiar with the negotiations. The final outline of the Senate plan, scheduled to be released Thursday, remained a work in progress, officials cautioned. “Everything is on the table,” said one Republican official Tuesday evening, who did not want to be identified discussing...
  • France hikes taxes on big companies to meet deficit goal

    11/02/2017 3:24:26 PM PDT · by Olog-hai · 13 replies
    TheLocal.fr ^ | 2 November 2017 16:16 CET+01:00
    France said Thursday it would temporarily raise taxes on the profits of big companies in order to meet its deficit target after being hit with a hefty bill for an unlawful levy on dividends. President Emmanuel Macron’s centrist government has pledged to bring the deficit within the EU limit of 3.0 percent of GDP for the first time in a decade this year. That goal, however, appeared to be in jeopardy after the state was ordered to pay back €10 billion ($11.6 billion) in taxes on dividend payments imposed by Macron’s Socialist predecessor François Hollande. Ruling that the tax was...
  • Local leaders tout Sacramento highway projects as opponents seek gas tax repeal

    10/25/2017 7:18:58 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Sacramento Bee ^ | October 23, 2017 | Brad Branan
    Facing a campaign to repeal the state’s new gas tax increase, Sacramento-area politicians and transportation officials gathered under a freeway underpass Monday to tout projects that are expected to be funded by the hike. Sacramento Mayor Darrell Steinberg, county Supervisor Phil Serna and others spoke in praise of Senate Bill 1, which has continued to generate opposition from Republicans after the Democratic-controlled Legislature approved the measure in the spring. Caltrans officials Monday outlined more than $1 billion in projects that will be “accelerated” in the region as part of the $52 billion statewide anticipated from higher gas taxes and vehicle...
  • Gubernatorial hopeful Frank Wagner pushes infrastructure investments

    05/20/2017 10:56:52 PM PDT · by Tolerance Sucks Rocks · 12 replies
    The Roanoke Times ^ | May 5, 2017 | Carmen Forman
    Republican gubernatorial candidate Frank Wagner visited Roanoke Friday to pitch his campaign message of improving transportation infrastructure in order to create more jobs across Virginia.At a Roanoke County Republican Committee luncheon, Wagner, a GOP state senator from Virginia Beach, discussed his proposal to raise the gas tax for projects like widening Interstate 81 and building Interstate 73 and the Coalfields Expressway.Yes, he’s a rare Republican calling for a tax increase. He understands the irony. Building up major pathways in and out of Southwest Virginia will improve the business climate, he said.In the economically depressed Southside region , adding broadband and...
  • Trump says open to raising gasoline tax to fund infrastructure: Bloomberg

    05/01/2017 10:42:33 AM PDT · by Oldeconomybuyer · 85 replies
    Reuters ^ | May 1, 2017 | by Timothy Ahmann
    President Donald Trump said on Monday he would consider raising the federal tax on gasoline to fund infrastructure development "earmarked toward the highways," Bloomberg News reported. "It's something that I would certainly consider,” Trump told the news agency.
  • In GOP primary, Wagner runs on gas tax increase

    04/12/2017 10:52:58 PM PDT · by Tolerance Sucks Rocks · 11 replies
    The Daily Press ^ | April 11, 2017 | Travis Fain
    State Sen. Frank Wagner, a Republican candidate for governor, said Monday he'd like to turn much of U.S. 58 into an interstate as part of his plan to juice transportation construction in Virginia with an increase in the gas tax. The increase, part of a tiered plan that would charge more per gallon when prices are low, then roll back the rate when prices rise, wouldn't just affect rates in Hampton Roads or Northern Virginia, which have regional taxes. It would be statewide in implementation and effect, Wagner said. Wagner is charting an unusual course in this GOP primary: running...
  • Republicans Are Already Trying to Raise Taxes

    02/15/2017 10:56:38 AM PST · by TBP · 59 replies
    FEE ^ | February 15, 2017 | Steve Forbes
    Republicans in the House of Representatives are inadvertently setting a nasty political and economic trap for Donald Trump. Yes, it’s the Republicans, not the Democrats, who are ready to administer an unnecessary black eye to the new President. That’s not their intention, but it manifestly will be the result. There has been virtually no debate or public discussion about this new, horrible tax. The vehicle for this unwitting GOP punch is a new exaction called the border adjustability tax. This levy will cost American consumers at least a trillion dollars over the next ten years. Knowing how Washington politicians calculate...
  • CALIFORNIA VOTERS APPROVE MASSIVE CIGAR, CIGARETTE TAX INCREASE

    11/09/2016 10:02:57 AM PST · by Drango · 52 replies
    Halfwheel ^ | Nov 9 '17 | Charlie Minato
    For the first time since 1999, California has raised the taxes on cigarettes—and thanks to an interesting provision in the state laws, the state’s taxes on cigars are also going up. Just before midnight local time, the Associated Press called the decision on Proposition 56, a ballot measure that asked California voters whether to raise the tax on cigarettes from 87 cents to $2.87 per pack. California voters overwhelmingly said yes. Taxes on cigars will also be going up substantially. California adjusts taxes on other tobacco products, including cigars, every year. The state’s Board of Equalization determines the rate by...
  • NYC Pharmacy Slaps Male Shoppers with 7% ‘Man Tax’ to Fight Gender Inequality and Trump

    10/11/2016 6:56:26 AM PDT · by C19fan · 97 replies
    Breitbart ^ | October 11, 2016 | Thomas D. Williams
    A Manhattan pharmacy has begun charging its male customers an extra 7 percent “man tax” as a protest against gender-based income inequality as well as a political move to promote Hillary Clinton over Donald Trump.
  • Tim Kaine Pushed for Income Tax Hikes on Families Making as Little as $17,000

    10/04/2016 11:26:17 AM PDT · by justlittleoleme · 12 replies
    Americans For Tax Reform ^ | July 22nd, 2016 | Toni-Anne Barry
    As governor, Hillary’s High-Tax-Tim tried to hike taxes by billions of dollars If prospective Hillary Clinton running mate Tim Kaine had his way, Virginia residents would be paying billions in higher taxes. As governor, Kaine sought to impose nearly $4 billion in higher taxes, including an income tax hike on families earning as little as $17,000 a year. He pushed for tax hikes on businesses and higher taxes on distilled spirits and cigarettes: Income Tax Hike on Working Families: Kaine tried to Increase the bottom tax rate from 5.75% to 6.75%, directly affecting low income families earning as little as...
  • Hillary Clinton Wants Higher Estate Taxes, But Not on Her Family

    09/23/2016 6:50:05 AM PDT · by Rockitz · 26 replies
    Breitbart.com ^ | 23 Sep 2016 | Peter Schweizer
    Hillary Clinton wants to increase the estate tax to 65 percent on the wealthiest Americans, according to her latest tax plan. The Clinton campaign estimates that the increase would raise an addition $75 billion in revenue over the next decade. The current rate maxes out at 40 percent. But Hillary Clinton and her husband Bill have created a number of tax shelters in recent years to dramatically limit their payment of the very same tax. As Bloomberg reported back in 2014: “To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S....
  • The Sneaky Way Obama Is Hiking Death Taxes

    08/18/2016 5:46:05 AM PDT · by milton23 · 38 replies
    Daily Signal ^ | 8/17/16 | Curtis Dubay
    President Barack Obama isn’t afraid to enact his agenda over the will of Congress. At this late stage in his presidency, he’s still overreaching his authority to push through an agenda; his most recent overstep being an effort to unilaterally raise the federal estate tax. Conservatives have successfully lessened the impact of the estate tax, colloquially known as the “death tax,” in recent years. In 2000, before George W. Bush became president, the death tax had a rate of 55 percent and struck families with assets valued at $675,000 or more.
  • Hillary Clinton's Economic Plan: Tax-And-Spend With A Vengeance

    08/12/2016 4:37:12 AM PDT · by expat_panama · 25 replies
    Investors Business Daily ^ | August 11, 2016 | Editorial
    Election 2016: Hillary Clinton has big plans for the economy if she's elected president, as she made clear in her speech in economically troubled Warren, Mich., on Thursday. It's too bad that her big plans involve only big spending and big taxes, which will produce little if any economic growth. Clinton's speech was framed around four questions. Which candidate has a plan to create good jobs? Who will ensure the top pay their "fair share" of taxes? Who will go to bat for families? And who can deliver results? But her answer to every question was the same: more government...
  • Governor Palin: Here Is What Quietly Happened On January 1, 2015

    08/08/2016 12:19:15 PM PDT · by ScaniaBoy · 34 replies
    conservatives4palin.com ^ | 7 August, 2016 | Sarah Palin
  • Hillary Clinton's plan to tax and wipe out the middle-class

    08/06/2016 10:52:15 AM PDT · by mainestategop · 20 replies
    https://www.youtube.com/watch?v=qU__9f0kEb0&feature=gp-n-y&google_comment_id=z13ltx55tpb0jd4s322jgxtrzletuvjlg Hillary Clinton plans to raise taxes for the workers the affluent and middle class. Pay roll taxes and national sales taxes for workers, Higher income taxes for the rest with the middle class bearing the brunt of these taxes. With commentary by Mike Savage Also get a load of some of the people who are gonna benefit the most from these new taxes, yokels, alcoholics, potheads, anarchists, thugs and crazies!
  • Crowd Cheers Clinton's Call To 'Raise Taxes On The Middle Class'

    08/03/2016 4:47:03 PM PDT · by Cheerio · 105 replies
    The Daily Wire ^ | August 3, 2016 | Robert Kraychik
    Hillary Clinton called for raising taxes on the “middle class” while campaigning on Monday in Omaha, NE. Joined by left-wing Democrat billionaire Warren Buffett, she received applause from those in attendance. “Because while Warren is standing up for a fairer tax code, Trump wants to cut taxes for the super-rich,” said Clinton. “Well, we’re not going there, my friends. I’m telling you, right now - we’re going to write fairer rules for the middle class and we are going to raise taxes on the middle class!”
  • Trump Says Taxes for the Wealthy Should Go Up

    05/08/2016 7:10:24 AM PDT · by Nachum · 119 replies
    Newsmax ^ | 5/8/16 | Thompson/Reuters
    Donald Trump said on Sunday that taxes for the wealthy should go up but that his tax plans would likely be renegotiated with Congress should he win the U.S. presidency. "For the wealthy I think frankly it is going to go up and, you know what, it really should go up," the presumptive Republican presidential nominee told NBC's "Meet the Press." Trump said that he see his current tax plans, which would reduce taxes for the middle class and businesses and increase those for the wealthy, as a negotiating "floor" that may change in dealings with Congress. Latest News Update...