Republican

Eliminating State Income Taxes Could Spur Economic Growth

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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

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

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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

Harry Reid’s Desperate Gamble Over Mitt Romney’s Taxes

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Mitt Romney’s Taxes

Lost in the politically generated issue of Mitt Romney’s taxes is the issue of Harry Reid and his own tax information. Harry Reid has jumped up and donned a fool’s mantle once again, and this time with a wild claim by an anonymous source, that Mitt Romney has not paid taxes for the last ten years. Less ridiculous would be if Reid held a press conference to say that he has spotted UFOs in the Nevada skies. Harry Reid is accustomed to playing with fire and getting burned, but the Nevada Democrat cannot seem to stop … Read the rest

Extension On Payroll Tax Cuts Made Because Of Rare GOP Offer

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On Monday, leadership of the House GOP announced its intention to support an extension of payroll tax cuts through the end of 2012. This, of course, will affect 2012 taxes. The GOP plans on offering its support without insisting on offsetting cuts or including unrelated policies in the bill. This bill will likely pass well before its deadline without much argument, which is something that has not happened in Congress for quite a while.

Democrats and Republicans aren’t completely happy with the extension of payroll tax cuts deal, however. The bill is more of a backup plan to keep the … Read the rest