Tag: taxes
Reid ‘Stunned’ by Romney’s Tax Hypocrisy
All I know, I can’t imagine Romney having the gall coming after anybody’s returns. Let’s look at his. He never gave us his tax returns. Who was the brainchild who got him to do that? Romney never gave us his tax returns. He did not — he gave us his summary, he didn’t give us our tax returns.
— Sen. Harry Reid, telling CNN that he’s stunned to see Mitt Romney demanding Donald Trump’s tax returns.
Romney Suspicious of Trump’s Finances
We have good reason to believe that there’s a bombshell in Donald Trump’s taxes. Either he’s not anywhere near as wealthy as he says he is, or he hasn’t been paying taxes we would expect him to pay or perhaps he hasn’t been giving money to vets or to the disabled like he’s been telling us he’s been doing.
— Mitt Romney, hitting Donald Trump over not releasing tax information, CNN reports.
Undocumented Immigrants Pay Nearly $12 Billion in Taxes
$11.8 billion
Amount in U.S. taxes undocumented immigrants pay. Washington Post: “Here’s a talking point for Democrats: President Obama’s executive actions on immigration will generate an extra $845 million in taxes annually from immigrants living here illegally. But that’s just a drop in the bucket compared with the $11.8 billion they already pay.”
How to Talk About Taxes Without Saying the ‘T’ Word
Well here’s the reality: If you go into a business, and I keep coming back to my background, it’s how I know how to relate is to refer back to it — I was never able to turn around a company just by cutting spending. You had to figure out a way to get revenue growing. And what I just said, there are five people in the U.S. Senate who understand what I just said. You know revenue is not something they think about.
— Georgia U.S. Senate candidate David Perdue (R), in an interview with the Macon Telegraph.
Half of Americans Think Their Federal Income Tax is too High
52%
Of Americans say the amount they have to pay in federal income tax is “too high,” while 42% say it is “about right,” according to Gallup. The percentage who say their taxes are too high has hovered around 50% since 2003, although the current 52% is up from 46% two years ago.
Number of U.S. Citizens Renouncing Citizenship to Escape Taxes Hits a Record
1,130
The number of U.S. taxpayers who renounced citizenship or permanent-resident status in the second quarter to avoid new tax laws, the Wall Street Journal reports. That is far above the previous high of 679, set in the first quarter, and more than were reported in all of 2012.
Cruz Promotes Flat Tax
We ought to abolish the IRS and instead move to a simple flat tax, where the average American can fill out our taxes on a postcard.
— Sen. Ted Cruz (R-TX), in an interview with Fox News, offering his solution to the controversy of the IRS targeting conservatives groups.
Poll: Raising Tax Rates on High Incomes Backed by Solid Majorities
Sixty percent of all Americans back higher taxes on higher incomes in the new Post-ABC data. Earlier this month, an identical 60 percent of voters in the presidential election said income taxes should be raised on income over $250,000, according to the national exit poll.
In the new poll, 73 percent of Democrats support such tax hikes, including a majority, 57 percent, who do so “strongly.” Among political independents, 63 percent back an increase, while 59 percent of Republicans oppose such a move.
Other proposed solutions to shrinking the debt are far less popular with the public. Only 44 percent support new limitations on the deductions people can claim on their federal income taxes — a proposal that former Massachusetts governor Mitt Romney put forward during his unsuccessful 2012 presidential campaign.
See If You Can Make the Romney-Ryan Tax Plan Work
The Washington Post’s Wonkblog has a great interactive “revenue meter” that enables you to try and get the Republican tax plan to add up. You can get there, but it ain’s easy and it ain’t according to the R&R tax approach. Check it out and tell us your results in comments.
