States with high taxes, despite taking more of their citizens' money, tend to have poorer infrastructure and services. So it's no surprise that citizens who live in those states also have a greater desire to leave. Steven Malanga explains this phenomenon in The Wall Street Journal, and suggests that labor laws have a lot to do with the dissonance between state revenues, and the output generated by state services. He writes: Seven of the eight states with the highest percentages of people who want to move elsewhere are solidly Democratic in party affiliation, according to Gallup polling. … [Read more...]

With the American economy firing on all cylinders after President Trump cut taxes two years ago, Democrats have come along with a plan to raise taxes. The plan is to raise the payroll tax from 12.4% to 14.8%. The plan would increase the share of GDP of Social Security taxes from 4.5% to 6.5%. Investor's Business Daily reports: Amid all the hoopla about Democrats wanting to raise taxes on the rich, they are quietly working on a bill that would increase taxes on every working family in America. Why? To fund expanded benefits for baby boomers hitting retirement. The Social Security 2100 Act … [Read more...]

There are winners and losers in the race for more federal tax dollars. Some states pay out large amounts of tax dollars but don't get much back. Others reap the rewards of federal largess. The New York State Comptroller's office has studied the phenomenon and laid out the facts. New York is a big loser when it comes to tax dollar allotment, ranked at 47th in net tax flows. Worse off though is nearby New Jersey, which ranks dead last in the ratio of dollars out to dollars in. If you live in New Mexico, your state is receiving the highest net tax dollar flow, with a positive per capita … [Read more...]

As Madame Pelosi cools her heels on the tarmac—thank you President Trump—she might ponder why Americans are fed up with her duplicitous stand on the WALL. Because behind her smirk and her walled family compound, is anyone really home? You would think she’s working for the Russians. Maybe she and AOC should get a boots-on-the-ground look at the border. There’s plenty of room on my downtrodden mule below. By the way, who in their right mind would work if 70% of their income were confiscated by pols like Pelosi & Co.? Exactly. For them, is there anything better than an unemployed voter? … [Read more...]

Congress's youngest and possibly most famous new member, Alexandria Ocasio-Cortez has made many lofty proclamations during her time in the lime light, but perhaps the one getting the most attention is her call to raise tax rates to 70% to pay for her agenda. Rational thinkers can see the issue in taking 70% of another person's dollar for no other reason than wanting to use it for something else. For the benefit of Congresswoman Cortez and those who believe like she does, the Tax Foundation has done the math to show that even if you confiscate 70% of the income of the wealthiest Americans, … [Read more...]

Speaker of the House Nancy Pelosi hasn't even warmed up her gavel, but already the newest, and youngest member of her party's Congressional caucus, Alexandria Ocasio-Cortez, has suggested a 70% tax rate on earnings over $10 million. That's probably not the issue Pelosi thought she would have to explain right away to voters. John Harwood reports in CNBC: The top tax rate stood above 90 percent throughout the 1950s. But through deductions and tax avoidance, “taxes on the rich were not that much higher” then, the conservative Tax Foundation noted in a 2017 article. The top rate remained 70 … [Read more...]