Tag Archive: Americans for Tax Reform


Yankees Pitcher To Lose Over Half Of $155 Million Contract To Taxes

Tanaka Tax Burden

 

 

” As reported by ESPN, the New York Yankees have signed Masahiro Tanaka to a 7-year contract worth $155 million, earning an estimated $22.1 million per year. According to ESPN, Tanaka’s contract is the largest ever for an international free agent and the fifth-largest deal for a pitcher. However sweet this $155 million dollar deal seems, the reality is that Tanaka will lose almost $90 million over the 7-year life of his contract with the Yankees.”

We love NY … NOT

 

 

 

 

 

 

 

U.S. States Flirt With Major Tax Changes

 

 

 

 

” Hopes for overhauling the federal tax system are fading in Washington, but in some state capitals, tax reform experiments – some far-reaching – are fast taking shape.

Across the South and Midwest, Republicans have consolidated control of state legislatures and governorships, giving them the power to test long-debated tax ideas.

Louisiana Republican Governor Bobby Jindal, for instance, called on Thursday for ending the state’s income tax and corporate taxes, with sales taxes compensating for lost revenue.

A similar plan is being pushed by Republicans in North Carolina. Kansas, which cut its income tax significantly last year, may trim further. Oklahoma, which tried to cut income taxes last year, is expected to try again.

“When it comes to getting pro-growth tax reform done this year, the only real opportunities are at the state level,” said Patrick Gleason, director of state affairs for Americans for Tax Reform, the Washington-based anti-tax lobbying group headed by small-government conservative activist Grover Norquist. “

Grover Norquist: Vote For Deal Is Vote To Cut Taxes

 

 

” Grover Norquist, the Americans for Tax Reform president and anti-tax activist who has become a key figure in the ongoing negotiations on the fiscal cliff, took to Twitter as the House was voting Tuesday night to give his blessing to the deal:

 

Norquist Spin
Norquist, of course, is the architect of the anti-tax pledge signed by the vast majority of congressional Republicans, and his statement Tuesday night could give political cover to the 85 members of the House GOP conference who voted “yes” on the deal.”

 

 

Obamacare Law Contains 20 New Or Higher Taxes On American Families And Small Businesses

 

 

 

” Taxpayers are reminded that the President’s healthcare law is one of the largest tax increases in American history.

Obamacare contains 20 new or higher taxes on American families and small businesses.

Arranged by their respective effective dates, below is the total list of all $500 billion-plus in tax hikes (over the next ten years) in Obamacare, where to find them in the bill, and how much your taxes are scheduled to go up as of today:

Taxes that took effect in 2010:

1. Excise Tax on Charitable Hospitals (Min$/immediate): $50,000 per hospital if they fail to meet new “community health assessment needs,” “financial assistance,” and “billing and collection” rules set by HHS. Bill: PPACA; Page: 1,961-1,971″

 

 

That was just the start . read the rest of these ” not a tax “Taxes

 

 

              Taxes that take effect in 2013:

” 10. Surtax on Investment Income ($123 billion/Jan. 2013):  Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single).  This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93″

  Capital Gains Dividends Other*
2012 15% 15% 35%
2013+ 23.8% 43.4% 43.4%
 These are just a couple examples of the  ” not a tax ” Taxes that were rammed down our throats because ” we need to pass the bill before we can see what is in it “. 
  Remind yourself that this is what passes for “responsible” governance in 21st century Amerika . Dictated to by our “betters” . Are we anything much more the serfs now ? 

Taxes that take effect in 2014:

” 17. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following

1 Adult 2 Adults 3+ Adults
2014 1% AGI/$95 1% AGI/$190 1% AGI/$285
2015 2% AGI/$325 2% AGI/$650 2% AGI/$975
2016 + 2.5% AGI/$695 2.5% AGI/$1390 2.5% AGI/$2085

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS). Bill: PPACA; Page: 317-337 “

 

 

 

Don’t fool yourselves , this “free” healthcare is going to cost us everything .

 

 

Illustration By Nate Beeler

 

Experts Warn About Impending Obamacare Tax Increases

 

” Five major tax increases will go into effect starting in 2013 as a result of Obamacare, regardless of what happens with the fiscal cliff.

Three of those tax hikes will mostly affect the middle class.

The medical-device tax, for example, will apply to hip replacements and “affect everyone who needs those devices,” John C. Goodman,  president of the National Center for Policy Analysis, told The Daily Caller News Foundation.

Americans for Tax Reform, the Washington-based group headed by Grover Norquist, estimates the overall tax burden of the medical-device tax will be $20 billion”.

… Are a Failure

 

 

 

  ” And the credit is failing, because small employers aren’t using it. The Congressional Budget Office downgraded its estimated tax score in half, from $40 billion to $20 billion over the first decade of Obama’s law. The massive public relations blitz this spring by the IRS is more evidence. The final nail in the coffin, though, is Miller’s testimony cited above.

 

Small employers aren’t ignored by the healthcare law, however. They can look forward to a costly employer mandate, or a tax fine of $2,000 per employee if they don’t comply. They can expect to see their tax rate rise under President Obama’s budget, since he wants to raise the top two marginal tax rates (at which a majority of small employer profits face taxation).

That doesn’t even count the hike in the Medicare tax rate, which falls doubly on the self-employed. If a small employer is in the tanning industry or makes medical devices, there are special new excise taxes just on them.

“It’s more than a little amusing that the IRS is trying to pass the hot potato here,” said Americans for Tax Reform President Grover Norquist. “They have the real-time data which must confirm what the rest of us know to be the case—this unused credit is a fig leaf, covering up the fact that there are 20 new or higher taxes on small employers and families in Obamacare.” ” 

 

 

Cartoon By Glenn McCoy