41 results for tag: taxes


What higher taxes on the wealthy actually means

What happens when high-earners are hit with "millionaires' taxes" in their states? They take their money elsewhere. States like California, New York, Maine, Connecticut, New Jersey, and the District of Columbia have such levies and these states seldom, if at all, benefit from them. City Journal has the story: Instead of generating a reliable revenue stream, millionaires’ taxes make revenue-collection more uncertain. One problem is outmigration: the wealthy simply decamp to less-punitive locales. Often owning homes in several places, they can easily change their official residence without giving up the one they maintain in a high-tax state, ...

Tax reform is still a money maker!

Months after tax reform passed into law, Americans are still seeing the benefits. We won’t see the full list of benefits for a few years, but it’s a really good sign that we are seeing a lot of them now. The gross domestic product (GDP) is over 4 percent for the second quarter, wages have started rising, and average hourly earnings have gone up 2.9 percent.   The Epoch Times reveals more: According to Scott Hodge, president of the Tax Foundation, the effects of tax cuts won’t be just short-lived. “It’s unrealistic to expect major tax policy changes like this to produce immediate results,” he said in his testimony at a Senate ...

How free is your state?

The Cato Institute recently came out with its annual list of “Freedom in the 50 States.” The think tank examined all of the states’ policies ranging from taxation to debt, educational choice, gun rights, and other policy issues. The best states ranked for overall freedom are Florida, New Hampshire, Indiana, Colorado and Nevada. Fiscal and economic policies are the reasons why Florida has held its top ranking since 2014. It shouldn’t come as too much of a shock that New York, Hawaii, California, New Jersey and Vermont are the worst states for freedom. Since 2000, New York has held its place as one of the worst states for freedom. Its ...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 4/30/18

CALENDAR: The House and Senate are both in recess this week. Both House and Senate will return to work on Monday, May 7. LAST WEEK ON THE HOUSE FLOOR: The House came back to work on Tuesday and passed two bills under Suspension of the Rules. On Wednesday, the House took up and passed both H.R. 3144, to provide for operations of the Federal Columbia River Power Plant System, and H.R. 5447, the Music Modernization Act. On Thursday and Friday, the House considered H.R. 4, the FAA Reauthorization Act. On Friday, the House passed the bill by a vote of 393-13. Later on Friday, the House considered H.Res. 856, a motion to establish a Select ...

Tea Party Patriots Citizens Fund Applauds OMB-Treasury Agreement Regarding Review of Tax Regulations

Atlanta, GA – Tea Party Patriots Citizens Fund Chairman Jenny Beth Martin released the following statement today, reacting to reports that OMB and Treasury reached an agreement for OMB to review all proposed tax regulations from Treasury and the IRS. Chairman Martin called on the White House to ensure OMB review of Treasury and IRS tax regulations in a column for The Hill back in January of this year. “We applaud President Trump and OMB Director Mick Mulvaney for restoring regulatory oversight for tax rules coming from the Treasury Department and the IRS. For more than three decades, the IRS has evaded the kind of standard oversight of its ...

Democrats’ fear-mongering tax reform tactics have backfired

After weeks of Democrats – like Nancy Pelosi – falsely claiming President Trump’s tax reforms are little more than “crumbs” and “scraps” for the American people, more recent polling in February show hard-working Americans are discovering they aren’t telling the truth. After millions of workers noticed a bump in their income, a majority of Americans now support President Trump’s tax reform plan. Townhall has the details: This is about as clean a political win as you're going to see these days, so Republicans are absolutely right to be pressing their advantage.  They've earned it.  They withstood weeks of withering and punishing ...

Daily Signal: Spending cuts are better for the economy than tax hikes

Thanks to President Trump, the recently passed Tax Cuts and Jobs Act is a great first step to reviving business confidence in the U.S and boosting economic growth. However, if the Republican party doesn’t follow through on their campaign promise to minimize spending, America will take two giant leaps backward. The Daily Signal has the details: Some point to the deficit as a reason to raise taxes. But new research shows that spending cuts are superior to tax hikes when it comes to reducing the deficit. This should embolden lawmakers to pursue spending reductions in this year’s budget resolution, giving particular focus to reducing entitlem...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 1/29/18

CALENDAR: The House will return Monday, and stay through Wednesday. Then House Republicans will go off to their annual retreat. The Senate will return Monday, and stay in session through Thursday. On Tuesday evening at 9 PM EDT, President Trump will deliver his first official State of the Union address. LAST WEEK ON THE HOUSE FLOOR: At 6:09 PM last Monday evening, the House voted on H.R. 195, the vehicle for the Continuing Resolution that had earlier that day passed the Senate. The CR passed, by a vote of 266-150, and was then sent to the President for his signature. And then they were done. THIS WEEK ON THE HOUSE FLOOR: It’s going ...

Starbucks expands jobs, benefits and raises thanks to tax reform

Starbucks announced Wednesday that they will create 8,000 new jobs and 500 manufacturing positions along with spending $250 million on pay increases, new jobs, employee benefits and stock options for their partners at the company’s stores. The coffee giant cites the “recent changes in the U.S. tax law” for its decision. The Washington Examiner has the details: Starbucks announced Wednesday it will spend $250 million on pay increases, new jobs, and stock options for its 150,000 partners at the company's stores, plants, and support centers starting Jan. 1. The coffee mogul cited "recent changes in the U.S. tax law" for its decision to boost ...

Manufacturers agree with President Trump: Tax reform is “rocket fuel” for the economy

President Trump’s historic tax plan has provided manufacturers with the ability to hire more workers and put more money back into the pockets of manufacturing workers. Real Clear Politics has the details: In the NAM’s latest quarterly Manufacturers’ Outlook Survey of our members, most respondents felt confident that tax reform would grow their businesses and help their workers. Sixty-three percent said comprehensive business tax reform would encourage their companies to spend more on their facilities and equipment, and 58 percent said they would expand their businesses. In addition, 54 percent said they would hire more workers, and ...