moonbattery logo

Category: Taxes

Oct 23 2021

Open Thread

Every dollar released from taxation that is spared or invested will help create a new job and a new salary. - John F. Kennedy

On a tip from Occam’s Stubble.

Oct 22 2021

Open Thread

Collecting more taxes than is absolutely necessary is legalized robbery. - Calvin Coolidge

Oct 08 2021

Democrats Tax Dirt

There is nothing Democrats won’t tax. One of the multiple blowout spending bills they are trying to ram through even includes a tax on dirt.

They want mining companies to pay tax on the soil they move. The greed isn’t even the worst of it. They want to suppress mining. As we have seen with Biden’s War on Energy, envirofascists are calling the shots.

Even some Democrat Senators are getting cold feet as the radical left tries to impose its deranged agenda.

Via Fox News:

Democratic senators from mining-heavy states appear to be rattled by their House of Representatives counterparts’ assault on the mining industry in their $3.5 trillion budget bill.

Two Democrats on the Senate’s Energy and Natural Resources Committee have spoken out about a provision in the behemoth budget bill that would make mining operations on federal lands costlier by imposing new taxes and royalty fees on those operations.

One of them is Catherine Cortez Masto (D-NV), who notes that most of the land in Nevada is owned by the federal government. The federal government owns 47% of all land in the West. She observes that imposing this punitive tax “would create uncertainty for the industry … that supports thousands of jobs across the country.”

That’s the idea. Biden’s handlers want to do to mining what they are doing to the energy industry: hamstring it by putting federal land largely if not completely off limits and throwing deplorables out of work, so that they will be at the mercy of Big Government for handouts, Democrats being the party of handouts.

Another anxious Democrat Senator is Martin Heinrich (D-NM), who wishes his party would take a less “zealous approach.”

Those who don’t like leftist zealots and the havoc they create should be baling out the Democrat Party in droves.

On a tip from R F. Hat tip: The Lid.

Oct 06 2021

Open Thread

Taxes should be lower, flatter, and simpler, in that order. - David Boaz

Aug 14 2021

Open Thread

The reason families need two incomes today is not to support themselves but to support the government. - Dick Armey
Aug 04 2021

Gargantuan “Infrastructure” Bill Includes Mileage Tax

There are so many nasty surprises in the colossal spending bills Democrats plan to ram through, it would be hard to shake your fist at them all. First comes the so-called “infrastructure” bill that some RINOs are colluding on.

A draft of the $1 trillion bill is 2,702 pages long. It mandates that vast amounts of money we do not have will be spent on removing invasive plant species, studying the phenomenon of deer getting hit by cars, Transportation Resilience and Adaptation Centers of Excellence, upgrades for Amtrak in Canada, combatting human trafficking even while leaving the border wide open, ensuring equity of outcome in the trucking industry, studying the safety of the limousines our rulers ride around in, imposing “driving prevention technology” (i.e., equipping our cars with breathalyzers), studies on driving while high on the marijuana Democrats have been legalizing throughout the country in violation of federal law, ensuring recreational boating safety, green energy handouts, imposing “digital equity,” massive subsidies for inefficient electric cars and even electric ferries, $billions to the National Oceanic and Atmospheric Administration (presumably to generate global warming propaganda), green energy boondoggles for laundering payoffs to campaign donors à la Obama, $billions to the Department of Energy for more posturing intended to convince us that the government controls the weather, $21.5 billion for clean energy demonstrations, a $1 billion payoff to the Appalachian Regional Commission to bribe Joe Manchin into going along, a $75 million payoff to the Denali Commission to bribe RINO Lisa Murkowski, $250 million to reduce truck emissions at ports, $500 million for the Healthy Streets Program that deploys “cool and porous pavements” to mitigate urban heat islands among other dubious activities, and $350 million for the Wildlife Crossings Pilot Program (i.e., bridges for wild animals).

In addition, mountains of money will be “invested” to grow the federal bureaucracy in general, including $14.2 billion for the FCC; $3.4 billion for the Federal Buildings Fund; $330 million for the DHS, which is no longer serious about defending the homeland, as the situation at the border makes obvious; $455 million for the Fish and Wildlife Service; $510 million for the US Geological Survey; $2 billion for the pernicious and tyrannical EPA; $3.5 billion for the Indian Health Service; et cetera, ad nauseam.

Not all of this looting spree will be paid for through inflation. There is also a revenue-raising aspect. The bill imposes a national mileage fee.

The Washington Examiner reports:

The $1.2 trillion bipartisan infrastructure accord would institute a multiyear “national motor vehicle per-mile user fee pilot” program that, without future intervention from the White House, could potentially violate one of President Joe Biden’s previously stated red lines.

Biden has emphatically promised that he would not raise taxes on people earning less than $400,000 per year. This was a brazen lie, if only because most of the ongoing Democrat looting spree will be financed by inflating the currency. Inflation is a tax on everyone who holds so much as a penny of American money.

The program itself directs [Transportation Secretary Pete] Buttigieg and [Treasury Secretary Janet] Yellen to “establish, on an annual basis, per-mile user fees for passenger motor vehicles, light trucks, and medium- and heavy-duty trucks, which amount may vary between vehicle types and weight classes to reflect estimated impacts on infrastructure, safety, congestion, the environment, or other related social impacts.”

This offers the advantage that it can be used to punish those of us who drive efficient vehicles powered by gasoline rather than inefficient but politically preferred electric moonbatmobiles.

The bill being “bipartisan” means a handful of left-leaning “Republicans” like Murkowski and Mitt Romney will support it, thereby enabling Democrats to use reconciliation to ram through another bill several times the size, which will inflict many aspects of the Green New Deal and establish new entitlements to speed us along on the road to national bankruptcy. The inevitable hyperinflation and economic collapse will be followed by the straightforward Soviet-style communism that is the increasingly obvious ultimate objective of all Democrat policy.

On tips from Dragon’s Lair and R F.

Jul 29 2021

Ted Cruz Tax Plan

Typical commie Elizabeth Warren was enraged that Jeff Bezos spent some of the money that he earned reaching for the stars. She reacted by promising to crank the Democrat looting spree even further into overdrive. Esteemed countermoonbat Ted Cruz reacted to her reaction with the best tax plan yet:

Lighting the money on fire is not far from the plans Democrats have for the $trillions upon $trillions they plan to confiscate. By the time they are through inflating the currency by spending even faster than they can tax, American money won’t be good for much other than burning for fuel anyway.

Hat tip: Not the Bee.

Jul 02 2021

Open Thread

Treat each federal dollar as if it was hard earned; it was - by a taxpayer. - Donald Rumsfeld
Jun 07 2021

Democrat Bill Would Impose 95% Tax on Common Medicines

When it comes to looting the American population, Democrats have no more mercy than a Black Lives Matter mob inflicting racial justice at the local Target. Not even the most vulnerable are safe. Pelosi et al. hope to impose a 95% tax on the most common prescription medicines.

Insatiably greedy Democrats have been in a tax-raising frenzy:

The top personal income tax rate, which is also the tax rate paid by successful small businesses such as LLCs, sole proprietors, partnerships, and S corporations, would rise from 37% to 43.4%. The corporate tax rate would go up from 21% to 28%, close to the highest rate in the developed world. The capital gains tax rate would rise from 23.8% today all the way to 43.4% for higher earners. A second, “double death tax” would be created by taxing people on their unsold investments at death, assets that would then still be subject to the 40% death tax.

But until we reach 100% taxation on everything, it will never be enough. Presenting HR3:

The bill imposes government price controls on 250 of the most common prescription medicines, including insulin. In order to make sure that the price control is adopted, the government gives an “option” for the drug to be subject instead to a brand new 95% drug tax. Since people ultimately pay taxes, the 95% Pelosi Drug Tax will fall directly on consumers of prescription medicines, notably seniors.

Drugmakers can avoid the tax by submitting to Venezuela-style price controls. The problem is that, as Venezuela demonstrates, price controls produce scarcity. They also make it less feasible for the pharmaceutical industry to come up with new drugs to extend and improve our lives, which they cannot do if Big Government won’t let them make a profit.

Yet again we see that having Democrats in power means a lower standard of living for the average American. If they didn’t control the media, only lunatics would vote for them.

On a tip from Dragon’s Lair.

May 13 2021

Biden Finds a “Trillion 300 Million Billion Dollars”

Great news. Hyperinflation only seems to be getting underway. Biden has the money to pay for his arrogantly wasteful spending spree after all. Rather than inflate the currency, he is going to hire an army of IRS agents to confiscate up to “a trillion 300 million billion dollars” from underneath our sofa cushions. The Man in Charge demonstrates his mastery of figures:

The cabal of radical leftists who have taken over the federal government picked the right guy to serve as figurehead as they spend us into oblivion Cloward-Piven style.

On a tip from Varla.

May 11 2021

United Nations Likes Global Minimum Tax

Biden’s people advocate for a global tax, so that victims of their confiscatory taxation policies cannot escape the country, the way people have been escaping hypertaxed Democrat-ruled states like California and New York. Unsurprisingly, our embryonic world government loves the idea. A high-level UN panel issued recommendations in February:

The High-Level Panel for International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI) said a 20% to 30% global corporate tax on profits would “help limit incentives against profit shifting, tax competition and a race to the bottom.”

If countries are not allowed to compete with each other on tax rates, these rates will only go higher and higher. When they reach 100%, utopia will have been achieved.

Globalism offers plenty of pain, and spreads it widely. Even globalist Big Tech companies may get their share:

One of the panel’s other recommendations includes a tax on digital services. France has already moved forward with such a tax, which would hit tech giants like Facebook and Google.

The concept of taxation imposed globally could put a crimp on techie plans to build their own city on a Mediterranean island so that they don’t have to deal with greedy and oppressive Big Government. Ironically, Big Tech plutocrats have been eager to impose excessive government on the rest of us through their aggressive support for the Democratic Party.

On tips from ABC of the ANC and Steve T.

Apr 27 2021

Open Thread

The Democrats have so corrupted our understanding of economics and productivity that lowering tax rates is now considered to be some kind of sop to the rich. I mean, it's just profound to me, the damage inflicted on this country by the Democrats in their pursuit of perpetual power. - Rush Limbaugh
Apr 06 2021

Janet Yellen Pushes Global Minimum Corporate Tax Rate

California and New York have effectively succumbed to single party Democrat rule. This has predictably resulted in stratospheric taxation and smothering regulation, which in turn have predictably resulted in productive people leaving for freer states. Now that Democrats are only one bill (i.e., HR1) away from imposing single party rule nationwide, what is to stop wealth producers from leaving for freer countries? Treasury Secretary Janet Yellen has the answer: a global minimum corporate tax rate.

Trump got the economy roaring by lowering the corporate tax rate to 21%. We had the healthiest economy in history. Then came the double whammy of Covid followed by Biden, who wants to raise the rate to 28% to defray the cost of his ongoing looting spree. The average corporate rate in the G7 is 24%, so this will make the USA uncompetitive. No worries; Democrats have a single solution to every problem: more government.

Why should the Biden’s Handlers Administration be content to lower the standard of living on behalf of Big Government only in the USA, when with a little arm-twisting it can accomplish this worldwide?

Yellen wants to shower the extra wealth expropriated upon the corrupt dictators running Third World countries and waste it on green posturing in the name of the global warming hoax.

Quacks Yellen:

“Over the last four years, we have seen first-hand what happens when America steps back from the global stage,” Yellen said. “‘America first’ must never mean ‘America alone.’”

America First is behind us for now. Until we get out from under Democrat rule, the USA is just another country, on its way down. Rather than competing to stay ahead of other nations, we will try to hobble them so they can’t race ahead of us.

Germany supports the plan and believes that more than 140 countries will agree to it. You might call it price fixing for greedy governments.

Good thing we have SpaceX. To escape excessive taxation, businesses may have to relocate to outer space.

On a tip from ABC of the ANC.

Feb 23 2021

Open Thread

All the forms of double taxation in the current system are punitive and self-destructive because they are literally destroying people's incentive to provide that seed corn for future economic growth. - Daniel J. Mitchell
HostingMatters.gif

Alibi3col theme by Themocracy