Tag Archives: increasing taxes

Targeting Taxpayers

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Author: R. Alan Harrop, Ph.D

The Coastal Carolina Taxpayers Association is committed to ensuring that citizens receive accurate information about policies that impact taxes. The election in November will have a major impact on federal taxes. It is important to note that 47% of earners paid no federal income tax in 2022 and the top 1% of earners paid a whopping 76% of federal taxes collected. This means that there are a substantial number of people who have no stake in how much federal taxes increase. Also, be aware that the Left’s constant refrain that the top earners do not pay their fair share is a lie.

What can we as taxpayers expect in the future? Let’s take a look. First, if a leftist Democrat, like Kamala Harris, is elected we can expect that Trump’s tax cuts from 2017 will be allowed to expire in 2025 increasing taxes substantially; particularly on middle class wage earners. Second, we can expect an increase in spending on “green new deal” programs, which are not only a hoax, but will destroy this country. Subsidies and mandates for wind, solar, and electric vehicles will increase your tax debt. The war on fossil fuels is the major cause of the increased price of energy and inflation. Third, runaway government spending has increased the federal deficit to over $35 trillion, which amounts to $104,000 for every man, woman and child in this country. This will only get worse, and ultimately must be paid by you the taxpayer. Fourth, the so-called student loan forgiveness scam (which is really a transfer of the debt to you the taxpayer) will be pursued in order to buy votes from those who actually benefited from the loans. Fifth, the open border policy is costing taxpayers billions of dollars in direct payments, housing subsidies, food stamps and free healthcare. Kamala Harris has previously advocated free healthcare and Medicare/Medicaid for all, including illegal immigrants. Since hospitals are not allowed to turn people away, you are actually paying this bill now, and it will get worse.

Of course the biggest tax of all is rampant inflation, which has increased the cost of living for the average American over 23% since Biden/Harris took office. Even though the inflation rate has diminished somewhat, prices continue to increase and will never return to their previous levels. In the meantime, mortgage rates, housing prices and rising rents are an increasing burden on the American people, especially the young. The American Dream is being shattered by excessive government spending.

By contrast, a Republican administration is likely to expand energy production, which will not only ease inflation, but provide revenue from the sale of oil and gas to other countries. Trump’s “Drill, baby, drill” plan needs to be implemented. Tax rate cuts to stimulate economic growth and productivity can be expected and are the only positive way of attacking the federal debt. Shrinking the federal government such as eliminating the federal Department of Education and cutting agency budgets are planned. President Trump’s commitment to closing the border will not only reduce taxes but ensure greater security and protect American jobs. Last, but not least is Trump’s commitment to revoke China’s most favored nation status which would help level the playing field and return manufacturing to this country, as well as provide revenue from equal tariffs as appropriate.

Regardless of other issues, and there are many, the impact on taxpayers of this coming election could not be more profound. As taxpayers this should be of the highest concern.

“Get Off My Lawn,” He Shouted

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Last night I watched the State of the Union Address. I watched the entire speech and the rebuttal. I learned that to our ‘representatives’ and the elites in Washington, the most most important issues are Ukraine and January 6th. In the rebuttal, I learned that the four things important to Republicans are our southern borde5r, conflicts overseas, inflation, and crime–not necessarily in that order. When the State of the Union Address was over, I felt like someone had yelled at me for an hour and a half. The speech proved that President Biden does have the energy to give an hour and a half speech. It also left many Americans wondering if there were drugs involved.

In his speech, the President needed to allay doubts about his cognitive abilities. He also needed a reset from his image as a tired old man. He did a reasonable job on both counts as long as you ignored the yelling and the slurred speech near the end of the address.

There were a number of lies told during the speech. January 6th was not an insurrection–there were no guns involved and no one has been convicted of insurrection. The President did not inherit a struggling economy–he inherited low inflation, low interest rates, energy independence, and an economy on the rebound from the Covid lockdowns. A large number of the jobs he claims to have created were simply people returning to the jobs they held before the Covid lockdowns. I would also like to note that many of the jobs currently being created are part-time jobs. During the past two months, the number of full-time jobs has significantly decreased. The President also claimed that crime is down under his administration. That is simply not true, although much of the increase in crime is due to Democrat-run cities who have eliminated bail and are not keeping criminals in jail. In New York, the National Guard has been called up to patrol the New York City subways because crime has become a serious problem there.

Also, why was there a fence around the Capitol, but not a wall at our southern border? Do fences and walls work or do they not work? There was also a comment about increasing taxes on corporation and on the wealthy. Corporations do not pay taxes–they pass them on to their customers, fueling inflation. “Taxing the rich” is a proposal that simply feeds class envy. If you want to see the results, look at the Laffer Curve. I would also like to note that during the Obama administration, General Electric paid no income taxes. Why weren’t they sharing the burden?

The speech was loud, inaccurate, and divisive. The tone was not attractive. I do wonder if this speech, which seemed more like a campaign speech than a State of the Union Address, actually won over any undecided voters.