Wednesday, January 26, 2011
Small Business Group Responds to President Obama's State of the Union
"Entrepreneurs are heartened to hear that President Obama wants to make the U.S. the best place on earth to do business. Indeed, across the globe, nations are cutting taxes, simplifying their tax systems and reducing regulations to make it easier to start up and grow a business. Developed and emerging countries alike have quickly adapted to the competitive environment and are reaping rewards in their aggressive efforts to attract capital and business investment. President Obama has awoken to this realization, and mere rhetoric alone will not change the competitive dynamic. Entrepreneurs and investors must now see dramatic changes on the policy front. This means, immediately locking in a pro-growth tax system, restraining the regulatory tide that is sweeping over every sector of our economy and reducing government spending," said Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan.
SBE Council chief economist Raymond J. Keating added: "While the President's pro-business rhetoric is encouraging, other specifics in his speech were disappointing. First, his explicit call for a tax increase on upper-income earners showed that he still fails to grasp that such a tax hike on entrepreneurs and investors would be bad for the economy. Second, his call, in effect, for higher taxes on oil companies in order to subsidize other energy sources reveals a desire for politics to overrule markets, with the result being higher costs in the end. And third, he took one step forward on trade, by urging Congress to approve the South Korea trade deal, but two steps back by failing to push ahead now with the Panama and Colombia accords."
Kerrigan concluded: "We look forward to working with President Obama and Congress in the critical areas of reducing regulation and simplifying the tax system. Leadership and action are desperately needed on these issues if the U.S. is to become more competitive in the global economy. Furthermore, small business owners have substantive ideas for improving the health care overhaul bill that was enacted into law. We only hope the Administration will listen to our solutions this time around."
SBE Council is a nonpartisan, nonprofit advocacy and research organization dedicated to protecting small business and promoting entrepreneurship. For more information, please visit: www.sbecouncil.org .
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Friday, January 7, 2011
Taxing the Internet
Internet Tax Bill Passed in Illinois
/PRNewswire/ -- The Internet Tax Bill (HB 3659) was passed in the Illinois Senate on January 5, by the House of Representatives on January 6 and brought to the Governor, who may sign it into a law as early as Friday, January 7.
The tax legislation relates to out-of-state merchants like Amazon.com and Overstock.com that do not have a physical presence in Illinois but have relationships with Illinois advertisers and publishers like CouponCabin.com. By this law, these merchants are deemed to have a presence (nexus) in Illinois and are therefore required to collect Illinois sales tax.
The goal of this is to increase tax revenue for the state, but what has happened in the four states that have passed similar laws (New York, Colorado, North Carolina and Rhode Island) is that instead of collecting sales tax, these merchants have severed their relationships with publishers in that state. Twelve other states have rejected similar legislation.
Statement from Scott Kluth, Founder and President of CouponCabin.com:
"Needless to say, we are disappointed by the passing of the legislation today. It was disheartening that both Houses passed this bill in 30 hours without a full and fair opportunity for the voice of Illinois small businesses to be heard. CouponCabin has been rapidly growing for the past several years; in fact, in November, we were only 12% behind Groupon's monthly traffic. For the third straight year, our staff has doubled in size and has already grown by 12% in the first week of 2011. Unfortunately, this bill will do significant harm to our growth by cutting our business by nearly one-third. Chicago has been an amazing home for CouponCabin for more than seven years. We are grounded in the community with our business and our charitable work and have no plans to leave. We hope the State will see that this bill will fail to achieve its revenue-raising goal, and instead cause drastic hardship for small businesses like ours. We know from other states' experience that the tax revenue does not materialize. Should this bill become a law, Internet affiliate jobs will be lost with no increase in state revenue. The other states that have passed this are moving to repeal it for this exact reason. We hope consideration will be given to the impact on small businesses before this bill becomes a law."
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Friday, July 23, 2010
House Financial Services Committee Schedules Mark Up of Internet Gambling Regulation Bill
"This mark up demonstrates that Congress is serious about moving Chairman Frank's bill forward and establishing a strict regulatory framework for Internet gambling activity," said Michael Waxman, spokesperson for the Safe and Secure Internet Gambling Initiative. "The passage of this legislation would be a win-win as it will protect consumers, create an estimated 32,000 new jobs over five years and provide federal and state governments with as much as $72 billion in new revenues over ten years."
The legislation, introduced by Chairman Frank in May 2009, would establish a framework to permit licensed gambling operators to accept wagers from individuals in the U.S. In addition to mandating an array of consumer protections, the legislation reinforces the rights of each state to determine whether or not to allow Internet gambling activity for people accessing the Internet within the state and to apply other restrictions on the activity as determined necessary. Since its introduction, a bi-partisan group of 69 co-sponsors has signed onto the legislation. A recent analysis by H2 Gambling capital predicts that Internet gambling regulation would create as many as 32,000 jobs over its first five years.
In May 2010, the House Committee on Ways and Means held a hearing to discuss a companion piece of legislation to the Frank bill introduced by Rep. Jim McDermott (D-WA), the Internet Gambling Regulation and Tax Enforcement Act of 2010 (H.R. 4976). This legislation would ensure the collection of license fees and taxes on regulated Internet gambling activities. According to a tax revenue analysis conducted by the Joint Committee on Taxation, regulated Internet gambling is expected to generate as much as $42 billion in federal government revenue over its first 10 years.
"During this difficult economy, the revenue and job creation potential that regulated Internet gambling provides will go a long way to help states and families alike balance their budgets," said Waxman.
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Thursday, April 29, 2010
State Income Taxes Push Many Working-Poor Families Deeper Into Poverty
Moreover, while some states implemented tax reductions for low-income working families in 2009 (usually enacted before the recession), progress has since ground to a halt because of state budget problems. In fact, some states have enacted or are considering reductions in tax credits for low-income working families, according to a companion report.
"States' budget challenges are real, but so are the challenges that hard-working families are facing in today's tough economy," said Nicholas Johnson, director of the Center's State Fiscal Project. "States have better ways to balance their budgets than to make their tax codes tougher on low-income workers."
Some States Tax Families Well Below Poverty Line
The report found that in tax year 2009:
-- In 13 of the 42 states that levy income taxes, two-parent families of
four with incomes below the federal poverty line are liable for income
tax;
-- In 11 states, poor single-parent families of three pay income tax;
-- And 25 states impose income tax on families of four just above the
poverty line.
These findings are based on the poverty line for 2009: $21,947 for a family of four and $17,102 for a family of three. While families below the poverty line don't pay state income tax in most states, they do pay other taxes such as sales, gas, excise, and property taxes.
Some states levy income tax on working families in severe poverty. For example, Alabama, Georgia, Illinois, Montana, and Ohio tax two-parent families of four earning less than three-quarters of the poverty line ($16,460).
In some states, poor families face several hundred dollars in income tax. In 2009, for example, a two-parent family of four with income at the poverty line owed $468 in Alabama, $266 in Hawaii, and $225 in Montana, according to the report.
Recession Threatens Recent Progress
The number of states levying income tax on working-poor families of four declined from 16 in 2008 to 13 in 2009; the taxes levied by those remaining 13 states also declined. But in the face of state budget problems, this progress has ground to a halt and some states have recently taken steps to cut back their credits, according to the companion report. For example:
-- Virginia enacted a cut to its EITC that would raise taxes by $6
million on an estimated 114,000 low-income working families. (This
cut might be reversed before it takes effect.)
-- Minnesota cut back a renters' credit affecting 300,000 low- and
moderate-income households and eliminated a gas tax credit.
-- Georgia is considering eliminating $22 million in wage support for 1
million workers earning less than $20,000 per year.
Similar measures have been proposed in New Jersey, the District of Columbia, and Montgomery County, Maryland.
Raising taxes on low-income working families is not the best option for raising state revenue, the report explains. Some states are considering such measures alongside proposals to cut taxes for wealthy individuals and corporations, which likely would neither strengthen the economy nor create jobs. States would be better off maintaining their low-income tax credits -- which families spend quickly and locally, giving the economy a needed boost -- while canceling other tax cuts and raising new revenue from higher-income families and profitable corporations.
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Wednesday, May 20, 2009
Libertarians: “Cap and tax” destroys jobs, punishes working families
“Cap and tax legislation is the offspring of bad science and bad economics,” said William Redpath, Libertarian National Committee Chairman. “Imposing massive new taxes on carbon production destroys jobs and drastically increases consumer prices with no proven effect on global temperatures.”
“Cap and tax compounds the suffering of so many in this economy, with no scientific evidence whatsoever it helps the environment.”
The legislation, sponsored by Committee Chairman Henry Waxman (D-CA) and Energy and the Environment Subcommittee Chairman Edward Markey (D-MA), taxes carbon dioxide by imposing a cap on greenhouse gas emissions and creates a complex system for employers to buy and sell credits allowing them to create carbon under the cap. As the cap lowers each year, employer can exchange allowances in a complicated auction market. Speculators, such as hedge funds, can purchase credits to sell.
“The research is in and the economic toll of cap and tax is inescapable. With cap and tax, job losses will rise by an additional 1,105,000 Americans each year. In the worst years, 2,479,000 will lose their jobs annually under cap and tax,” said Redpath, citing research from the Heritage Foundation.
“Electric bills could rise by an inflation-adjusted 90 percent. The price of gasoline could rise by an inflation-adjusted 74 percent. It adds $1,500 to the average family’s annual energy bill, which hits the poor and the elderly the hardest. The increased costs of energy also force any business using energy to raise their prices, making food, medicine and other essentials more unaffordable,” said Redpath.
“There is never a good time to impose billions of dollars in new taxes on job creators that send consumer prices skyrocketing and job prospects plummeting,” said Redpath. “But in this economy, voting for cap and tax is an easy way to send a member of Congress to an early retirement.”
“Even worse, it has virtually no effect on the environment. Climatologists calculate the full bill reduces temperatures only five one-hundredths of a degree in 2050 and no more than two-tenths of a degree at the end of this century – and even that’s based on the assumption man-made carbon dioxide can change the climate of an entire planet,” said Redpath.
“Members of Congress should be on notice. Anyone who supports this bill will face angry voters in 2010, because we’re going to let them know you’re working to eliminate their jobs, make their groceries more expensive and raise their energy bills,” said Redpath.
“The Libertarian Party is a fearless defender of small businessmen, workers and families. That is why we not only oppose this disastrous cap and tax legislation, but we will work to defeat anyone who supports it,” said Redpath.
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Sunday, April 12, 2009
Join in Rome's Tax Day Tea Party
April 15 11:30 A.M.
Senator Chip Rogers, R-Powder Springs, GA.
11:30 a.m., Gather at Opi's Waterfront Grill parking lot , 112 W. 2nd Ave..
Enjoy the music and patriotic songs by our own "Buck and Duke." .
Participate in making signs or bring your own. .
11:50 Program begins. .
Open the program with Prayer, Pledge of Allegiance, and the National Anthem (sung by Rome's own Samantha Weekly).
Be inspired by featured speakers including great American citizens and young Americans who care about their country. Speakers include State Senator Preston Smith, House Representative Barry Loudermilk, Jared Thomas of Americans for Prosperity, Sherri Reese of Don't Go Movement and State Tea Party Coordinator, County Commissioners Eddie Lumsden and Irwin Bagwell, small businessmen Mel Funk and Randy Smith, our own local "Joe the Plumber's", and young men and women from around the county.
.Watch and enjoy the dumping of tea leaves from the John Ross Memorial Bridge into the Oostanaula River just as those great American patriots did in 1773. It was the beginning of a revolution.
.Enjoy live radio coverage including Joy Christian Radio Network
.1:15 p.m. Program ends.
.Stay at Opi's Waterfront Grill for "debriefing", networking, and idea sharing. Enjoy Opi's fine foods and the continuing music of "Buck and Duke".
All that is necessary for the triumph of evil is for good men to do nothing. --Edmund Burke
Where:
Opi's Waterfront Grill
112 West 2nd Avenue
Rome, GA 30161
Opi's is at the corner of West 2nd Avenue and West 1st Street. One block off Broad Street. By the Oostanaula River and in the historic old Battey Machinery Building. All roads lead to downtown Rome to Broad Street. Go south on Broad Street to 2nd Avenue. Parking will be tight but there is a new parking deck on West 1st Street at West 3rd Avenue. $1.00 per hour/ $5.00 per day. Another parking deck is at the corner on East 4th Avenue at the corner of Broad Street. A large new parking lot is on West 3rd Street at the west end of the John Ross Memorial Bridge (pedestrian bridge) its a quick and scenic walk across to the area of Opi's Waterfront Grill parking lot.
Maps: Go to www.maps.google.com and type Opi's Waterfront Grill into the Search block. Can also be found on www.mapquest.com Directions with Opi's Waterfront Grill 112 West 2nd Avenue Rome, GA 30161 typed into the Ending section.
Costs: Will have 500 small American flags for you. May charge 50 cents for them. May "pass the hat" for donations at your discretion. $1.00 to $10.00 or whatever you choose is fine. If you choose to write a check please make it to Mike Morton and memo it to Rome GA Tea Party. Sorry it has to be personal but we choose not to open a bank account.
Signs: Please make and bring your own signs if possible. We will have a limited number available and some facilities to make them. Poster board no larger than "36 X 36" is allowed. Wooden handles or any materials other than cardboard are not allowed by ordinance.
Costumes/Dress: Some folks will be wearing "revolutionary war" or Indian type attire. Remember the Boston Tea Party was the beginning of the Revolution with a few patriots dressed in Indian attire.
Volunteers: Please contact us if you wish to volunteer to help, to volunteer to speak, to have your child volunteer to speak, or to read from patriotic "Founding Father" quotes. We also need someone to do high quality video to insert on You Tube, web sites that are discussing the Tea Parties, and other venues.
Contact: For more information or to volunteer to help please contact: Mike Morton mikeofrome@yahoo.com 706.346.3400 or Layla Shipman laylas36@gmail.com 706.853.9014 or FaceBook page Rome Georgia Tea Party
Thanks and look forward to seeing you. Please say hello to me.....and all your new friends there. And oh yes, this goes without saying, but Be Nice just as you are. This is going to be a peaceful and respectful, but enthusiastic gathering. An American awakening.
Tuesday, March 31, 2009
Atlanta Tea Party Info
Where and When? Atlanta State Capitol 206 Washington St. SW, Atlanta, GA 30334-9007 , Recommended Arrival time 6-7 p.m.
What to expect at the Tea Party? The purpose is to let Congress and the President know there are many, many Americans across the country that are fed up with bailouts, large budgets, and high taxes. The way the rally will help us achieve this purpose is by having multiple events happening across the country on the same day. Currently there are 245 events planned and more are being added. By having so many people gather across the country hammering home the exact same messages, it will get Media coverage and Congress will see that there are everyday, ordinary citizens who are fed up with fiscal irresponsibility. There will be protesters with signs promoting our message. We will also have a line up of speakers including everyday citizens, event organizers, and elected officials. Sean Hannity, host of Fox News Hannity’s America, will broadcast live from the event.
Is there a webpage for the Atlanta Tea Party? www.Atlantateaparty.net
Why is the Tea Party in downtown and not in the suburbs? To send this message loud and clear we need to have excellent media coverage and very large crowds across the country. The message to be sent to Washington is to “cut the pork and repeal taxes”. If there are 1,000 people in downtown and a few hundred at each event in various metro counties, we will not have the same impact or the same media coverage as we will if we have several thousand people in one place for the media to take photos and video.
Is there carpooling available? Carpooling is provided on a voluntarily basis within neighborhood groups and friends although it is recommended that Marta be utilized as it goes right to the capitol. Due to time constraints, there will not be a kickoff party in Fayette county as many will be working around busy schedules to attend the tea party. The most efficient transportation methods are Shannon Mall park and ride or the College Park Marta station.
Is there something planned for those who work? In Fayette County, the arrival time being between 6:00 and 7:00 p.m. will allow those wishing to attend the time to do so.
Do you need donations? How can I give money? Thank you for your generosity. Go to the Atlanta Tea Party website(http://atlantateaparty.net) and click on the Donate Button on the sidebar on the right of the screen. Donations will be used to pay for staging, screens, projectors, banners, and other details necessary for the event.
Is there anywhere I can purchase Atlanta Tea Party merchandise? We are adding an Atlanta Tea Party store to the website shortly. Please check http://atlantateaparty.net for a link to the store.
I would like to be included in the planning of the Tea Party. How can I be included? How can I volunteer? While the Nationwide Tea Party Movement has official sponsors and City Chairmen, this is a grassroots movement. Any thoughts, concerns, or suggestions you have will be considered and addressed. Please email those to us or call me directly (404-326-0936). Additionally, we have weekly conference calls on Monday nights at 7:30 to discuss the planning of the events and for attendees to volunteer for various tasks. If you are able to attend the conference call, please email me with RSVP Monday 7:30 in the subject line and I will send you the call in phone number.
What speakers are lined up? Currently, there are 4 confirmed speakers including: Congressman Tom Price; Dave Ryan, President of American Solutions; Joel Aaron, host of Sound Bytes on WGKA 920 AM; and Eric von Haessler, co-host of the Regular Guys on Rock 100.5. As additional speakers are lined up, we will add them to the website (http://atlantateaparty.net).
What should we put on protest signs for the event? We will be listing sign suggestions on our websit (http://atlantateaparty.net) shortly. If you have additional suggestions, you can add them to the comments under that particular post. Protest signs that are not in line with theme of the event will be asked to be removed at the demonstration. Such signs include but not limited to: campaigning, racially inappropriate slogans, anything that suggests violence or unlawful activity, and/or partisan slogans.
How can I volunteer?I do not have much time to volunteer before the event. What small thing can I do to help right now? There are several small things you can do to help with the Atlanta Tea Party. Send an email out to all your like minded friends, family, and neighbors inviting them to attend the Tea Party with you. You direct them to the Atlanta Tea Party (http://atlantateaparty.net) website for up to date details. Use shoe polish to paint you car windows with the atlantateaparty.net. This way people you pass on the street know about the website. Purchase a t-shirt from our store (http://atlantateaparty.net) and wear it as you run errands.
Are there additional events planned after April 15th? Are there going to be any Tea Parties on a Saturday There are tentatively 10 total Tea Parties that will take place between February, 2009 and Election Day, 2010 but that is not set in stone. You can go to TeaPartyPatriots.ning.com to answer questions about your vision for the Nationwide Tea Party movement.
Jenny Beth Martin
Nationwide Tea Party Movement,
Strategic Visioning Committee
Monday, March 23, 2009
Sticker Shock: Washington Dems Reeling After CBO Report Shows President's Budget Is $2.3 Trillion More Costly Than White House Claimed
“Mr. Obama should treat the CBO report as an incentive to fulfill his repeated promises, during and after the campaign, to make hard choices on the budget. Until now he has offered a host of new spending – on health care, middle-class tax cuts, education and alternative energy – without calling for much sacrifice from anyone except the top 5 percent of the income scale. Though his emphasis on controlling health-care costs is welcome, it’s not a substitute for reforming the entitlement programs that are the drivers of long-term fiscal crisis, Medicare and Social Security. Yet the president has offered no plan for either and no road map even for achieving a plan. Several members of his own party in the Senate have been expressing doubts about his strategy, and the CBO report will lend credibility to their concerns. He should heed them.”
House Republican Leader John Boehner (R-OH) reacted similarly after the CBO rocked the Administration with its deficit report last Friday, saying, “This report should serve as the wake-up call this Administration needs. We simply cannot continue to mortgage our children and grandchildren’s future to pay for bigger and more costly government.”
Later today, the President will continue his campaign-like sales job of his budget when he will continue pressing for a massive national energy tax that’s at the heart of the proposal – a tax that will cost American families up to $3,100 per year. The Associated Press reports this morning that, “President Barack Obama’s aides say the administration will work with Congress on his budget proposal, but energy independence is not subject to wheeling and dealing.” In other words, the White House is prepared to fight for its energy tax hike.
Middle-class families and small businesses are struggling during this recession – their job security is diminished, their savings are evaporating, and their costs of living are soaring. Do they really deserve to be hit with higher energy bills – to the tune of up to $3,100 increase per year – thanks to the President’s budget?
Republicans don’t think so, and that’s why they will be offering a better budget solution in the days to come. In response to the President’s request last week for budget ideas from both parties, Boehner released a web video in which he outlined for the President the GOP principles for a better budget. The GOP budget alternative will:
- Help create and protect jobs by letting families and small businesses keep more of what they earn.
- Ensure the federal budget doesn’t grow faster than family budgets.
- Aim to expand access to affordable health care for every American, while preserving Social Security and Medicare for future generations.
- End the bailouts to protect taxpayers and reform the financial system so this crisis never repeats itself.
- Encourage an “all of the above” energy strategy that harnesses new technologies, encourages greater conservation and efficiency, and increases American energy production in an environmentally-safe manner – without imposing a national energy tax.
- Fight inflation so the prices of goods and services Americans depend on every day remain stable during and after this economic crisis.
As the House Budget Committee prepares to debate the President’s budget blueprint, it is clearer than ever that it spends too much, taxes too much, and borrows too much. House Republicans are prepared to offer a better way. Are Washington Democrats prepared to join them?
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Friday, February 27, 2009
Big Government Will beTaxing
The Era of Big Government is Back: Newspapers Slam New Budget Proposal
Posted by Kevin on February 27th, 2009
Newspapers from Boston to Los Angeles blasted the administration’s budget proposal in editorials published this morning. The Fiscal Year 2010 Budget contains hundreds of billions of dollars in tax hikes on small business; creates a new “carbon tax” that would penalize Americans for using energy; expands entitlement spending by $1 trillion over 10 years; brings back to life the “death tax”; and would result in the doubling of the national debt by 2019......
http://republicanleader.house.gov/blog/?p=451
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Wednesday, January 14, 2009
Obama Must Withdraw Geithner Nomination
President-elect Obama should withdraw Timothy Geithner's nomination for Treasury Secretary. Obama says that middle-class families with incomes of $250,000 are wealthy and their taxes should be raised, but he wants a Wall Streeter who didn't pay his taxes to be his point man on the economy.
The amount of unpaid taxes -- $42,000 -- may sound like pocket change to Geithner and his Wall Street buddies, but it is a lot of money on Main Street.
Geithner's claim that he didn't know he was supposed to pay taxes doesn't pass the laugh test. It is true that American citizens who work for the IMF are responsible for the employer's share of the payroll tax, but IMF employment includes generous pay and a host of other perks. Anyone who has ever worked there is well versed on the details because it is such great deal.
Henry Paulson and Timothy Geithner are the architects of our bailout policies, where ordinary taxpayers are forced to subsidize the wealthy, who are not allowed to go broke, no matter how spectacular their failures. Geithner was a poor choice, and his failure to pay his taxes proves it.
Charles Rangel, Chairman of the House Ways and Means Committee, did not report or disclose years of rental income on a Dominican Republic beach house and claims he did nothing wrong. His committee writes the tax laws. Now we have a Treasury nominee who for years failed to pay his payroll taxes and we are again told that he did nothing wrong. Will the same officials who plan to raise our taxes ever take responsibility for paying theirs?
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