Taxes

Posted at 2:12pm on Jul. 2, 2008 Grassley Helps at the Expense of Local Governments

By grforbes

Among the additions Grassley has made to the Foreclosure Prevention Act is a property tax relief provision. According to the Des Moines Register, Senator Grassley has added a federal income tax deduction for state and local property taxes. The deduction would be available to federal tax filers that do not itemize on their federal return. This will be of greatest benefit to lower income property owners. While this provision may have positive aspects, it has two obvious problems. First, it is misplaced in the foreclosure act intended to bring relief to the troubled mortgage market. Second, this provision is a clear attempt by a federal politician to bully state and local governments into acting in the way that politician deems appropriate rather than what is in their best interest. This is a particular problem for the flood savaged Midwest.

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Posted at 7:00pm on Jun. 26, 2008 Obama Will Kill Ben Franklin -- Can You Afford Him?

By Brad LaMorgese

Obama Will Kill Ben Franklin – Can You Afford Him?
By Brad M. LaMorgese (an attorney in Dallas, Texas)

Benjamin Franklin once declared, “A penny saved is a penny earned.” Hardly. Americans, here’s the sad tale of Obama’s tax plan for your last Benjamin.

For instance, let’s talk about the last $100 from your paycheck. This hypothetical presupposes you are “lucky” enough for the government to declare that you are “rich.” Here’s the Obama tax plan – or as I like to call it Socialism/Communism. And the government gets this money without any effort – it’s on your back!

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Posted at 10:56am on Jun. 26, 2008 What's up with New Mexico?

By Dave in Fla

I was listening to Rush yesterday, and he raised a point that I thought was interesting. In essence his assertion is that the purpose of Dems in Congress is to transfer wealth from the Republican consituents (Red state, middle class) to the Dem consituents (Blue state, poor).

I picked up on that, and thought I'd take a look and see if there were any numbers that would show this effect. It seemed to me that if you looked at the federal tax revenues vs. expenditures on a state by state basis, then you should be able to see some rough trends.

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Posted at 3:59pm on Jun. 22, 2008 Third Issue to Solve--Federal Budget Deficits

By Dr. John Bredfeldt

Contunued Federal Budget Deficits for the last 75 years--13 years of surplus since 1930 are killing the U. S. Economy and the sactity of the U. S. dollar with foreign investors. Interest costs us over $250 billion a year. A one per cent increase in the interest rate ultimately costs us around $100 billion a year. The cause is simple. The Federal Government spends too much. The spending needs to be cut where we spend the most money annually--for entitlement programs (or as it is called today, money provided to individuals).

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Posted at 8:53am on Jun. 19, 2008 Obama and the Social Security Privatization Lie

By Blue Collar Muse

Few things illustrate Democrat's penchant for preying on people's fears better than Social Security. Proposing changes to Social Security produces hysteria from any Democrat near a microphone. Barack Obama is no different as evidenced by his comments earlier this week.

Speaking to a crowd of retirees in Ohio,

Obama ... criticized McCain for being open to letting taxpayers invest part of their Social Security payments in private investment accounts.

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Posted at 7:25pm on Jun. 14, 2008 Adam Smith's 4 Tenets of Taxation--Violated by Current Federal Income Tax System

By Dr. John Bredfeldt

Some have asked for specifics of how the current Federal Income Tax System violates Adam Smith's 4 tenets of taxation. The first tenet is that the taxes paid by each individual should be proportional to their income. The progressive nature of the income tax system makes it just that--progressive. People with higher incomes pay a higer tax rate per increment of income, and a higher tax rate against their total income than those with lower incomes.

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Posted at 8:43pm on Jun. 13, 2008 Kill the Federal Income Tax

By Dr. John Bredfeldt

Let's get to some economic basics. Adam Smith, the architect of the Capitalist Economic System provided four tenets that a tax system must incorporate. First, the taxes paid by each individual should be proportional to their income. Second, the tax should be certain as to amount, time, and place to pay. Third, the tax should be exacted to the taxpaer at a place and time convenient to the taxpayer.

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Posted at 11:33am on Jun. 10, 2008 [I'm just going to start replacing these types of drive-bys with Obama gaffes.]

By Terry Clemens

[Lord knows I have a lot of material to work with. Here's the one where Barry fumbles his way through explaining why his VP advisory team doesn't actually work for him:


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Posted at 11:44am on Jun. 8, 2008 John Kerry, Please Send Me $1000

By muxedo76

Dear Senator Kerry:

You were on “This Week” this morning talking about how Obama wants to give a $1000 to middle class taxpayers. I’m pretty sure I fall into any reasonable definition of middle class. I believe it is pretty clear that this tax cut would be “paid for” by increasing taxes on “the rich.” I am also pretty sure that you would fall into any reasonable definition of “the rich.” Based on these policy proposals, that means I’m entitled to 1000 of your dollars.

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Posted at 12:00pm on May 31, 2008 $165.79

By BigGator5

So I got paid yesterday. I open up the pay-check and there under the total taxes was this nice little number:

$165.72

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Posted at 12:28pm on May 29, 2008 A Principle of Taxation

By tracycoyle

Tax policy exists ONLY for the purpose of assessing and collecting funds necessary for government to function in the broadest and most equitable manner. Tax policy does not exist to promote, or punish any perceived or preferred behavior.

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Posted at 1:37am on May 23, 2008 Gas Taxes Increase Government Revenues to Record Highs

By principleoverparty

While the Senators were grilling the Oil Company Execs about the high cost of gas, the revenues the government receives from the gas taxes are bringing in record revenues into their coffers. In fact in Chicago, who has the highest gas prices in the nation, taxes account for approximately 20% of the gas costs. [Emphasis mine]

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Posted at 11:52pm on May 20, 2008 Did the tax debate just end?

By Matthew G

Even the most casual observer of U.S. politics notices that The Debate, whatever The Debate may be, rarely ever ends. Long after the votes are counted, after the Supreme Court issues its decision, after all but the faithful few have ceased to care, The Debate continues.

Except when it doesn't. There have been a precious few times in history when a piece of evidence so incredibly important and indisputably true has been discovered, that rational minds cease to debate the issue. The world is round(ish). Porcupines do not throw their quills at dogs. And raising the tax rate does not raise tax revenues as a percentage of GDP.

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Posted at 8:23pm on May 15, 2008 Younganomics

By redscan

Don Young has just voted to increase taxes.
He has joined the cause of the "tax maggots."
"They" are stealing from us again.
GOP leadership in Congress is nonexistent.

Present voters left the liberals to vote against the funding for Afghanistan and Iraq.
Instead the money goes to New Orleans.
Is it "safe"?
Not with these guys.

Don Young represents Alaska but spends for Florida.
Coconut Road? Coconut "head."

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Posted at 4:02pm on May 13, 2008 The Biggest Government......Ever

By Spartan4Life

Okay. So it is official. We are now at an all time high for government spending AND revenue. Read about it here

There is so much wrong with this it is hard to know where to even begin. We have record revenues at the same time our deficit is spiraling up? This all happened under a "Republican" president and Congress? The Democrats want to raise our taxes even more? I just have to laugh when I hear President Bush saying we should give another $100B to Africa to fight aids, most of which ends up in the hands of corrupt politicians, BTW, or that we need to save Myranmar from the ravages of their cyclone. Doesn't anybody in Washington get it?

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