A Quote by Kevin Hassett
There is no tax policy that better describes how out of touch America's liberals are with the rest of the country than the estate tax. According to the Left, government seizure of a large share of the wealth of an American taxpayer is a moral imperative that serves social justice. Most Americans disagree, big time.
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The tax that was supposed to soak the rich has instead soaked America. The beneficiary of the income tax has not been the poor, but big government. The income tax has given us a government bureaucracy that outnumbers the manufacturing work force. It has created welfare dependencies that have entrapped millions of Americans in an underclass that is forced to live a sordid existence of trading votes for government handouts.
Americans for Tax Reform is a national taxpayer organization dedicated to opposing any and all tax increases. We work at the national, state and local level for lower taxes, less government spending and limited government.
A majority of Americans support Social Security and Medicare, a progressive tax system and a government that regulates business in the public interest, but most share deep skepticism about the government's ability to do all this well.
If you're a full-time manager of your own property - and full-time, according to Congress, is 15 hours a week - you can take unlimited depreciation and use it to offset your income from other areas and pay little in tax. One of the biggest real estate tax lawyers in New York said to me, if you're a major real estate family and you're paying income taxes, you should sue your tax lawyer for malpractice.
President Trump repeatedly says that "America is the highest-taxed country in the world." This is an alternative fact. We pay less in taxes, and our government spends less, as a share of our total wealth, than our counterparts in Western Europe and East Asia. But Trump is right when it comes to corporate tax rates; the U.S. corporate income tax right is among the highest in the world.
As a country, Americans have to find a way to keep our cities solvent. If large numbers of cities no longer have the necessary tax base, we have to find federal methods to intervene. If we don't, there's a risk of dozens of cities simply being left to their bankrupt fates - and I can't see how that serves anybody's interests in the long run.
I don't know how you feel, but I'm pretty sick of church people. You know what they ought to do with churches? Tax them. If holy people are so interested in politics, government, and public policy, let them pay the price of admission like everybody else. The Catholic Church alone could wipe out the national debt if all you did was tax their real estate.
The other thing that's really important in tax reform is making sure that we don't tax American businesses at much higher tax rates than our foreign competitors tax theirs. It is costing us jobs. It's one of the reasons all these American companies are moving overseas.
Tax time approaches, and Americans are as always paying H & R Block billions to help them save some of their wealth from their ravenous government. Pitiful, in a way: it underlines the grim but
unacknowledged fact that the government is their enemy and they have to hire protection from it. But don't we enjoy 'self-government'? Well, if we have it, I'd hardly say we enjoy it. True, we aren't being taxed by the monarch of Great Britain, but our American-born rulers claim far more of our wealth than the British monarchs ever did.
The poverty we see in America is now too widespread, and too complex, for easy fixes. But I do think we can reimagine many of our institutions and can create new ones in ways that would be effective. We could, for example, create social insurance systems, similar to social security, such as that we went through in 2008-9. We could create a financial transaction tax, oil profit taxes and a fairer estate tax system, and we could plow much of the revenue raised from these into job training programs, into better education infrastructure, into an expanded Earned Income Tax Credit.
You know, people like Hillary Clinton think you grow the economy by growing Washington. I think most of us in America understand that people, not the government creates jobs. And one of the best things we can do is get the government out of the way, put in reign in all the out of control regulations, put in place and all of the above energy policy, give people the education, the skills that the need to succeed, and lower the tax rate and reform the tax code.
It's tax day and while many Americans are filing their taxes with a groan, taxpayers in the Badger State have reason to cheer. In Wisconsin, we have enacted more than $2 billion in tax cuts, giving our citizens much-needed relief, call us crazy Midwesterners but we think you know how to spend your money better than the government.
One way to have broader access to wealth is to reduce the tax on the large group and increase the tax on the very top so concentration of wealth doesn't get to extreme levels.
According to an analysis by the Tax Policy Center, Donald Trump`s tax plan is going to increase the national debt by more than 50 percent over ten years.
I really like the idea of consumption tax, and most countries have a pretty serious consumption tax. It's called a value-added tax or a goods and services tax ... It's a sales tax. It doesn't tax labor, it doesn't tax savings or investment - it taxes consumption.
What you do on immigration policy, what you do on education policy, what you do on tax, regulatory, and energy policy, all connects together - and will be based on a simple determination about what will make life better in America for American citizens.
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