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Hillary Confirms Trillion Dollar Tax Hike Plan

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This is from Americans For Tax Reform.

This is a trillion reasons not to vote for the Hildabeast.

[Alert: Hillary Endorses New National 25% Gun Tax: “I am all for that.”]

During an interview with the editorial team of the New York Daily News, Hillary Clinton admitted her tax proposals will increase taxes on the American people by at least $1 trillion over the next ten years. Here is the key exchange from the meeting, according to a transcript released by the Daily News:

Clinton: I have connected up my proposals for the kind of investments I want to make with the taxes that I think have to be raised. So on individual pieces of my agenda, I try to demonstrate clearly that I have a way for paying for paid family leave, for example, for debt-free tuition. So I would spend about $100 billion a year. And I think it’s affordable, and I think it’s a smart way to make investments, to go back to our economic discussion, that will contribute to growing the economy.

Now I’m well aware that this is a heavy lift. I understand that. But I think connecting what I’m asking for to the programs, to the outcomes and results that I’m calling for give me a stronger hand, and that’s how I’m going to go at it.

Daily News: So if I understand you correctly, if you look at your proposals for college costs and for family leave, for infrastructure investments…

Clinton: Well, that’s a little bit different, because infrastructure investment, I’m still looking at how we fund the National Infrastructure Bank. It may be repatriation. That’s one theory, or something else. It’s about $100 billion a year.

Daily News: A hundred billion a year, so that comes out to about a trillion dollars…

Clinton: Over ten.

Daily News: …over ten years.

Hillary’s $1 trillion tax increase takes the form of several proposals:

$350 Billion Income Tax Increase for a “New College Compact”  Clinton has proposed a $350 billion income tax hike in the form of a 28 percent cap on itemized deductions.

$275 Billion Business Tax Increase for “Infrastructure”Clinton has called for a tax hike of at least $275 billion through undefined business tax reform. According to the Clinton campaign document, “Hillary will fully pay for these [Infrastructure] investments through business tax reform.”

$400 Billion “Fairness” Tax Increase — According to her published plan, Clinton has called for a tax increase of “between $400 and $500 billion” by “restoring basic fairness to our tax code.” These proposals include a “fair share surcharge,” taxing carried interest capital gains as ordinary income, and raising the Death Tax.

However, Clinton has also proposed several tax increases not included in the tally above. Because her campaign has failed to release specific details for many of her proposals, the true figure is likely much, much higher than $1 trillion.

For instance:

Capital Gains Tax Increase — Clinton has proposed an increase in the capital gains tax to counter the “tyranny of today’s earnings report.” Her plan calls for an overly complex, byzantine capital gains tax regime with six brackets for those whose total taxable income puts them in the top 39.6 percent bracket. Her campaign has not said how much this will increase taxes.

Tax on Stock Trading — Clinton has proposed a new, unquantified tax on stock trading. The tax increase would only further burden markets by discouraging trading and investment. Inevitably, costs associated with this new tax will be borne by millions of American families that hold 401(k)s, IRAs and other savings accounts.

“Exit Tax” – Clinton has proposed a series of measures aimed at corporate inversions including an “exit tax” – on income earned overseas. The term “exit tax” is used by the campaign itself. This proposal would completely fail to address the underlying causes behind inversions. Her campaign document describing this proposal says it will raise $80 billion in tax revenue, but claims some of the $80 billion will be plowed into tax relief. It does not specify a dollar amount.

The full transcript of Hillary’s visit to the NY Daily News editorial board can be found here.

To learn more about Hillary’s various and sundry tax increase proposals, visit ATR’s dedicated website, www.HighTaxHillary.com

Read more: http://www.atr.org/hillary-confirms-trillion-dollar-tax-hike-plan#ixzz45iSPS1c1
Follow us: @taxreformer on Twitter

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Taxpayers are Leaving New York in Droves

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This is from the Last Resistance.

I think it is funny the most of the people fleeing New York voted for the Liberals that raised their taxes.

Then these same people will vote to turn their new home state into the liberal mecca they just left.

It was reported recently by Americans for Tax Reform that taxpayers are overwhelmingly leaving Democrat-controlled states and moving to Republican-controlled states. New York was the biggest loser when it came to its taxpaying population.

Liberals like high taxes, because they think that will bring in the most tax revenue to fund their ever-growing government and pet projects. What they don’t consider is that the higher the taxes, the more people want to move away to another state that doesn’t tax as much. As a result, the state ends up losing money (not necessarily a net loss of revenue, but anytime a taxpayer leaves a state, he takes with himself tax revenue). And those states with lower taxes take in more taxpayers and in turn, more revenue.

In New York in 2013, according to IRS data, nearly 115,000 people left New York. That translated into a loss of about $5.7 billion in revenue for the state. Americans for Tax Reform reported:

Newly released IRS migration data from 2013 shows that New York lost more taxpayers than any other state in the nation. That year, nearly 115,000 residents left the Empire State, taking with them $5.65 billion in adjusted gross income (AGI) to spend elsewhere.

This new data shows that New York will remain America’s “Biggest Loser,” having lost nearly 1.6 million taxpayers between 1985 and 2013. Those residents took with them more than $80.8 billion in annual AGI.

The phenomenal failure of New York to retain taxpayers and businesses is directly related to its uncompetitive tax and business climates. By some measures, New Yorkers face the greatest tax burden of any state in the nation. The personal income tax system consists of eight brackets and a top rate of 8.82%. The corporate tax of 7.1% and property tax collections are $2435 per person. The Tax Foundation ranked New York 50th until this year after a set of minor tax reductions.

When Governor Cuomo was asked for his reaction to this news, he stated that it “wasn’t fair because it didn’t include migration into the state... Looking at one-half of the equation is not how you do math.”

The thing is, the data indeed includes migration into the state. According to IRS data and based on address changes on tax returns, there was an inflow (migration in to the state) represented by 167,337 returns filed with a total of 247,466 exemptions – the total number of individuals claimed as dependents on the returns. The outflow (migration out of the state) was represented by 219,652 returns filed with a total of 386,395 exemptions. The difference between the two exemption totals is 114,929. That is a net loss. Here’s the IRS data.
Read more at http://lastresistance.com/13589/taxpayers-are-leaving-new-york-in-droves/#ZU3rPwWWDKre57hV.99

Hillary on New 25% National Gun Tax: “I am all for that.”

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This is from Americans For Tax Reform.

Just think of the things gun owners will face if the Hildabeast becomes president.

As she testified before the tax-writing Senate Finance Committee on Sept. 30, 1993, Hillary Clinton was asked by Sen. Bill Bradley (D-N.J.) if she supported the imposition of a new, 25 percent national sales tax on guns. Clinton emphatically endorsed the tax, stating: “I am all for that.”

As reported by the Associated Press on Oct. 1, 1993:

Sen. Bill Bradley, D-N.J., picked up Mrs. Clinton’s support for his idea of slapping stiff taxes on ”purveyors of violence:” a 25 percent sales tax on guns and $2,500 license fees for gun dealers.

”Speaking personally … I’m all for that,” said the first lady. But she stressed she was just speaking for herself.

”Well, let me say that there is no more important personal endorsement in the country today, and I thank you very much,” said a pleased-as-punch Bradley.

After she publically endorsed the 25 percent gun tax in congressional testimony, she made sure that everyone understood how important this was to her, saying: “I am speaking personally, but I feel very strongly about that.”

Remarkably, although the hearing was broadcast on C-SPAN and Clinton’s 25 percent gun tax endorsement was noted at the time by the AP, the Washington Post, the New York Times and others, a search of leading news databases reveals not a single media mention since 1993. Americans for Tax Reform is now highlighting the gun tax endorsement as the latest addition to its dossier of Clinton’s tax positions, available at HighTaxHillary.com. 

“Hillary’s 25 percent gun tax would discourage gun ownership and be a backdoor route to gun registration,” said Grover Norquist, president of Americans for Tax Reform. “Hillary has a long history of attacking gun owners.”

VIDEO: Watch Hillary endorse a new 25% national gun tax

On the day of the Finance Committee hearing, NBC Nightly News reported the 25 percent gun tax incident as follows:

NBC: “Others urge a hefty sales tax on guns, and much higher fees for gun dealers. Today, they got a powerful ally.”

Clinton: “I’m all for that. I just don’t know what else we’re going to do to try to figure out how to get some handle on this violence.”

NBC: “Hillary Clinton added that’s only her personal opinion.”

The Bill Clinton White House made it clear that Hillary’s 25 percent gun tax endorsement was all hers, as shown by the Oct. 1, 1993 White House press briefing transcript:

Q: “Do you know if the President supports the First Lady’s endorsement of an idea yesterday by Senator Bradley that there be a 25 percent tax on the sale of guns in America?”

WH Press Secretary Dee Dee Myers: “Well, as you know, she was expressing her opinion.”

Sen. Bradley was seeking early support for gun tax legislation which called for a new federal sales tax on handguns and semi-automatic rifles as well as steep increases in existing federal firearms and ammunition excise taxes and gun dealer licensing fees.

Hillary Clinton’s anti-gun crusade continues to this day. During a CNN town hall meeting in 2014, she called for a ban on “assault weapons” and declared, “we cannot let a minority of people – and that’s what it is, it is a minority of people – hold a viewpoint that terrorizes the majority of people.”

Clinton’s positions are consistent with longstanding progressive goals on gun taxation, gun registration, and other forms of gun control. On August 10, 2015 the Seattle City Council voted unanimously to impose a $25 per gun sales tax on all firearms. As a result, the National Rifle Association, the National Shooting Sports Foundation, and the Second Amendment Foundation have filed a lawsuit challenging these taxes.

On Aug. 26, Clinton said she would push to “balance the legitimate Second Amendment rights with preventive measures and control measures.” The next day a Washington Post headline declared her “the new standard-bearer for gun control.”

“Hillary has made it perfectly clear to the millions of gun owners in the United States: she doesn’t like us, she doesn’t trust us and she wants us to go away,” said Norquist.

Read more: http://www.atr.org/hillary-new-25-national-gun-tax-i-am-all#ixzz3lAKZUkML
Follow us: @taxreformer on Twitter

Obama has Proposed 442 Tax Hikes Since Taking Office

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This is from Americans For Tax Reform.

Obama and the DemocRats have never found a tax they would not propose or would hesitate to raise.

 

 

 

Since taking office in 2009, President Barack Obama has formally proposed a total of 442 tax increases, according to an Americans for Tax Reform analysis of Obama administration budgets for fiscal years 2010 through 2015.

The 442 total proposed tax increases does not include the 20 tax increases Obama signed into law as part of Obamacare.

“History tells us what Obama was able to do. This list reminds us of what Obama wanted to do,” said Grover Norquist, president of Americans for Tax Reform.

The number of proposed tax increases per year is as follows:

-79 tax increases for FY 2010

-52 tax increases for FY 2011

-47 tax increases for FY 2012

-34 tax increases for FY 2013

-137 tax increases for FY 2014

-93 tax increases for FY 2015

Perhaps not coincidentally, the Obama budget with the lowest number of proposed tax increases was released during an election year: In February 2012, Obama released his FY 2013 budget, with “only” 34 proposed tax increases. Once safely re-elected, Obama came back with a vengeance, proposing 137 tax increases, a personal record high for the 44th President.

In addition to the 442 tax increases in his annual budget proposals, the 20 signed into law as part of Obamacare, and the massive tobacco tax hike signed into law on the sixteenth day of his presidency, Obama has made it clear he is open to other broad-based tax increases.

During an interview with Men’s Health in 2009, when asked about the idea of national tax on soda and sugary drinks, the President said, “I actually think it’s an idea that we should be exploring.”

During an interview with CNBC’s John Harwood in 2010, Obama said a European-style Value-Added-Tax was something that would be novel for the United States.”

Obama’s statement was consistent with a pattern of remarks made by Obama White House officials refusing to rule out a VAT.

“Presidents are judged by history based on what they did in power. But presidents can only enact laws when the Congress agrees,” said Norquist. “Thus a record forged by such compromise tells you what a president — limited by congress — did rather than what he wanted to do.”

The full list of proposed Obama tax increases can be found here.

Read more: http://www.atr.org/obama-has-proposed-442-tax-hikes-taking-office#ixzz2yumhRLJI
Follow us: @taxreformer on Twitter

Graham: Norquist is Wrong

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This is from Yahoo News.

Lindsey Graham is wrong about taxes.

The what else is new about Lindsey Graham being wrong.

The voters of South Carolina need to fire Lindsey Graham.

I read where little Dickie Durban said DemocRats were open to entitlement reform.

This is the best laugh I have had in years.

Sen. Lindsey Graham, R-S.C., bucked Americans for Tax Reform President Grover Norquist and his anti-tax pledge on Sunday, the second Republican senator to do so in less than a week.

Although Graham will not give way to raising tax rates, he said Republicans need to be open to increasing government revenues.

“I think Grover is wrong,” Graham said on ABC’s This Week. “I will violate the pledge … for the good of the country.”

Last week, Sen. Saxby Chambliss, R-Ga., told a local television station that he is more worried about the fiscal cliff than he is about adhering to the no-new-taxes pledge, prompting a response from Norquist, Politico reported.

With fiscal cliff negotiations starting up again following the Thanksgiving break, Graham sounded optimistic that Congress could reach a deal in time to stave off the massive spending cuts and tax increases slated to take effect at the beginning of next year. Joining him in that optimism was Sen.Dick Durbin, D-Ill.

“We can solve this problem,” Durbin said on ABC“Tomorrow, there’s no excuse: we’re back in town.”

Durbin, the Democratic whip, said the House should pass a Senate-approved bill to keep the Bush-era tax cuts for most Americans, leaving negotiations over the rates for wealthy Americans for later debate.

Durbin said Republicans should be open to raising rates, citing Democratic willingness to examine changes to entitlement programs.

 

CHAMBLISS SIGNALS POSSIBLE GOP SURRENDER ON TAX HIKES

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This is from Breitbart’s Big Government.

Attention Good People of Georgia.

It is time to remove a RINO from the Senate.

It seems Senator Chambliss has trouble keeping promises.

Raising taxes Will Not Reduce the debt.

 

Thirty-eight Senators and 219 House members have signed Grover Norquist’s famed anti-tax “Taxpayer Protection Pledge,” which has been instrumental in preventing politicians from increasing taxes. But after Sen. Saxby Chambliss (R-GA) indicated on Wednesday to a Georgia television station that he would not abide by the pledge, conservatives are insisting Republicans in the House and Senate be more resolute on taxes during the upcoming fiscal cliff negotiations.

Chambliss said he cared “more about my country than I do about a 20-year-old pledge,” and he indicated he was open to voting for tax increases. Other establishment Republicans, such asWeekly Standard editor Bill Kristol, have also called on Republicans to cave on holding the line on tax increases.

Chambliss said he had a “disagreement” with Norquist on taxes and believed “Norquist has no plan to pay this debt down” while Chambliss was “”willing to do the right thing and let the political consequences take care of themselves.”

Chambliss is up for reelection in 2014 and is especially vulnerable in a Republican primary. Multiple contenders are lining up to challenge him. Chambliss’s public statements are even worse when one considers conservatives pushed him across the finish line in 2008 in a tough run-off election against Georgia Democrat Jim Martin. Conservatives donated money to his campaign–and the Chambliss campaign, well-aware that nobody influences voters in red states more than Sarah Palin, asked Palin to campaign with him down the stretch.

If Chambliss votes to raise taxes, he will most likely be held to account by many of the Tea Party voters that supported his candidacy in 2008 in the 2014 primary.

On the House side, Iowa Rep. Steve King insisted on Sean Hannity’s radio show that everyone who has pledged not to raise taxes must stand firm because he thinks Obama wants to take the country off the fiscal cliff because Obama is a “Keynesian economist on steroids” at heart.

King recounted Obama’s words to the House Republican conference in February of 2009 when Obama told them that he believed Franklin Delano Roosevelt did not engage in enough deficit spending, which Obama believed prevented the country from getting out of the depression more quickly.

King said he looked into Obama’s eyes and knew Obama believed what he was saying. King noted that “if anybody believes that, they will try to borrow and spend” taxpayer dollars to prosperity, which would only lead to a more socialist “economy and government.”

King insisted that 218 Republicans in the House needed to be “resolute” and “hold our ground and refuse to pass anything that has a tax increase in it.”

According to King, Republicans had once had an “opportunity” after the historic 2010 midterm elections in which the Tea Party propelled Republicans back to power in the House to challenge Obama on things like funding for Obamacare and raising the debt ceiling.

 

King said Republicans backed down after the 2010 elections, when they had a stronger hand to play, and “it’ll take the strongest of leadership” to not do so during the fiscal cliff negotiations.

 

Obama has insisted that he would not sign any agreement that does not include raising taxes on those making over $250,000. Most Republicans woud like the extend the Bush tax cuts for all Americans.

 

New Obamacare Tax Form Mandates Americans Report Personal Health ID Info to IRS

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This is from Americans For Tax Reform.

One more reason to elect Mitt Romney.

One of many reasons to repeal Obamacare.

This monster will only grow and grow.

 

Here’s why the IRS will require Americans to disclose their personal health ID information starting in 2014

When Obamacare’s individual mandate takes effect in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form will require disclosure of a taxpayer’s personal identifying health information in order to determine compliance with the Affordable Care Act’s individual mandate.

As confirmed by IRS testimony to the tax-writing House Committee on Ways and Means, “taxpayers will file their tax returns reporting their health insurance coverage, and/or making a payment”.

So why will the Obama IRS require your personal identifying health information?

Simply put, there is no way for the IRS to enforce Obamacare’s individual mandate without such an invasive reporting scheme.  Every January, health insurance companies across America will send out tax documents to each insured individual.  This tax document—a copy of which will be furnished to the IRS—must contain sufficient information for taxpayers to prove that they purchased qualifying health insurance under Obamacare.

This new tax information document must, at a minimum, contain: the name and health insurance identification number of the taxpayer; the name and tax identification number of the health insurance company; the number of months the taxpayer was covered by this insurance plan; and whether or not the plan was purchased in one of Obamacare’s “exchanges.”

This will involve millions of new tax documents landing in mailboxes across America every January, along with the usual raft of W-2s, 1099s, and 1098s.  At tax time, the 140 million families who file a tax return will have to get acquainted with a brand new tax filing form.  Six million of these families will end up paying Obamacare’s individual mandate non-compliance tax penalty.

As a service to the public, Americans for Tax Reform has released a projected version of this tax form to help families and tax specialists prepare for this additional filing requirement. Taxpayers may view the projected IRS form at www.ObamacareTaxForm.com.  On the form, lines 3-4 show where taxpayers will disclose their personal identifying health information.

 

 
Read more: http://atr.org/new-obamacare-tax-form-mandates-americans-a7285#ixzz2Azym2bwM

 

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