BarackObama

Eliminating State Income Taxes Could Spur Economic Growth

by

Eliminating State Income Taxes

While Washington continues to struggle with attempts at major changes to the federal tax system, individual states have no such problem.  Many states in the South and Midwest that have single-party legislatures and are Republican-controlled are seeking to do away with the tax filing of state income taxes in favor of higher and more diverse sales taxes.

With 37 of the 50 states having single-party control of the legislature and governorship, seemingly radical projects such as tax reform can be handled much easier than in states that struggle with the need for a middle ground … Read the rest

The Fiscal Cliff Fact Check

by

Checking the facts on President Obama and the ‘fiscal cliff’ deal.

There are some important facts which President Obama fails to mention in a Web video concerning the fiscal deal that leave the wrong impression concerning its impact on both the deficit and the taxpayers:

The president tells everyone that “middle-class families” Re not going to have to pay anywhere up to $2000 in additional taxes this coming year. This is certainly true in regard to income taxes however Obama fails to also tell the public about a payroll tax cut expiring. That expiration means that approximately 77% of all … Read the rest

Fiscal Cliff Deal – 77 Percent Of All Americans Set To Pay More Taxes

by

Fiscal Cliff Deal

The President has claimed that the Tuesday night fiscal cliff deal will reduce middle class taxes in America. However, taxes for most Americans will increase in 2013. The tax relief that has been built into the package will add nearly $4 trillion per year for the next 10 years to the existing $16 trillion debt. The fiscal cliff deal passed by the Senate and the Congress will not stop the Social Security payroll tax cut from expiring. This means that more than 75 percent of American households will face a higher federal tax liability in 2013.

Tax … Read the rest