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Government Spending

Sen. Vitter and Rep. Pompeo Launch Opposition to Proposed Carbon Tax
Posted By: Nan Swift - 12/05/12

Members of Congress are trying to hang their hats on anything that might help them avoid making any serious spending cuts ahead of the looming “Fiscal Cliff.” Among the many truly bad ideas that are being floated all in the name of raising “revenue,” as if there was any tax large enough to get us out of the hole our unbridled spending has dug, is a potential carbon tax. While past carbon tax proposals, aimed at curbing greenhouse gases, have also included components aimed at revenue neutrality and other ways to mitigate the regressive nature of such a tax, the current carbon tax talk is pure cash grab.

Senator Vitter (R-LA) and Representative Pomeo (R-KS) have introduced concurrent resolutions opposing such a carbon tax in an effort to get ahead of the harmful tax. As they state in a join press release here, a carbon tax would have a detrimental effect on taxpayers and our already struggling economy:

“There’s a lot of talk in Washington about raising taxes, and finding ‘revenues’ in creative ways, to avoid going over the fiscal cliff,” Vitter said. “But a carbon tax – which would force more financial hardship upon family budgets, energy consumers and job seekers – needs to be completely taken off the table. Our resolution would enshrine that.”
 
“A carbon tax would be disastrous to our nation’s economy by driving up energy prices and increasing the cost of everything built in America, as well consumer goods purchased by every American,” said Pompeo.  “I am proud to join Senator Vitter in introducing this resolution, which is aimed at putting Congress on the record in opposition to this awful idea.”
 
The concurrent resolution states that a carbon tax, which would increase the cost of manufactured goods and harm America’s manufacturing sector, is regressive in nature and would unfairly burden those vulnerable individuals and families in the U.S. who are struggling under a stagnating economy.

There’s virtually no part of the economy or everyday life that wouldn’t be negatively impacted by a “revenue-raising” carbon tax. For consumers it would mean higher costs on everything from food and manufactured goods to transportation and heat for the winter months ahead. This would be a massive burden on our economy and would further slow what little growth we have.

Instead of looking for quick cash gimmicks that will only hurt in the long run, Congress needs to make substantive spending cuts and reforms to put us back on the path to long-term prosperity. Higher taxes rarely bring in the revenue that was expected and at the end of the day, we’ll still be left with a growing debt and no one left to tax.

For a good reminder of just how urgently we need to cut spending and what little higher taxes will do, check out this new video from NTU.

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Taxing the Rich to Cover the Deficit Doesn't Add Up (VIDEO)
Posted By:  - 12/04/12

Watch NTU's NEW VIDEO which uses some real world items to show just how little taxing the so-called "rich" would dent our massive deficit.

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The Late Edition: December 3, 2012
Posted By:  - 12/03/12

Today’s Taxpayer News!

Pete Sepp tells US News’ Debate Club ATR’s pledge forces elected officials to limit Congress’ overspending.

As the Fiscal Cliff approaches, Republicans and Democrats are still holding vigilantly to their respective preferences: President Obama maintains that his reelection provided a “mandate” to raise taxes on upper-income earners, while Republicans continue to fight against all tax increases.

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Speaking of Taxpayers, November 30 (AUDIO): Nick Kasprak of the Tax Foundation on Fiscal Cliff Taxes
Posted By:  - 12/02/12

Subscribe to NTU's podcast "Speaking of Taxpayers" via iTunes HERE!

   
   
   
   
   
   

Pete & Doug are joined by Nick Kasprak of the Tax Foundation for a very informative session on the "fiscal cliff" tax threats, plus the "Fiscal Five" and "Outrage of the Week!'"

   































     

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Speaking of Taxpayers, November 21 (AUDIO): The Fiscal Cliff
Posted By:  - 11/24/12

Subscribe to NTU's podcast "Speaking of Taxpayers" via iTunes HERE!

      
   
   
   
   
   

The biggest issue for lawmakers to deal with in the following weeks is the fiscal cliff, and Pete Sepp explains exactly what's on the line for taxpayers. Also: five things to be grateful for this Thanksgiving. 

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Speaking of Taxpayers, November 16 (AUDIO): Congress is Back in Action
Posted By:  - 11/18/12

Subscribe to NTU's podcast "Speaking of Taxpayers" via iTunes HERE!

   
   
   
   
   
   

What's happening on Capitol Hill that taxpayers need to watch? What isn't! The fiscal cliff is approaching. Also, NTUF experts join Pete & Doug to offer agenda insights on the incoming Congress.

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Taxpayers Should Thank Retiring Representative & Fiscal Hawk Ron Paul
Posted By:  - 11/16/12

"I don’t have a whole lot of respect for a lot of organizations that are inside the beltway, but NTU is an exception, and they deserve a lot of compliments for it."

-Rep. Ron Paul (R-TX)

After a 36-year career in Congress and three presidential bids, Texas Congressman Ron Paul gave his final speech on the House floor Wednesday.

Dr. Paul has compiled a stellar lifetime score of 91% on NTU’s Rating of Congress, and earned Taxpayers’ Friend status 20 times for putting together such outstanding performances since his first tenure in the House in 1979.

Few have even come close to Paul’s record on taxpayer advocacy, and taxpayers will miss having such a staunch friend in Washington. You can watch the video of his farewell speech below.

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The Late Edition: November 14, 2012
Posted By:  - 11/14/12

Today’s Taxpayer News!

After a meeting Tuesday with labor groups and others set on raising taxes, the President has come out asking for $1.6 trillion in tax increases, double the amount discussed last summer.

Unless Congress acts to extend the “patch” that protects taxpayers from having to pay the Alternative Minimum Tax by indexing income thresholds to inflation, approximately 33 million Americans will be subject to the AMT for 2012. This is significantly up from just 4 million last year.

NTU recently joined forces with 88 other organizations dedicated to protecting taxpayers, and opposed extension of the Wind Production Credit, a $5 billion special tax break for an industry which barely generates 2% of the nation’s energy.

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In Defense of the Sequester: Why Congress Should Honor Its Word
Posted By:  - 11/12/12

With the presidential election behind us, the political playing field shifts to the rapidly approaching“fiscal cliff”---the combination of automatic across-the-board spending cuts and the expiration of a whole host of tax cuts set to take effect Jan. 1, 2013 as a result of 2011’s Budget Control Act (BCA).

Last week, NTU was joined by 22 other organizations who share the goals of reduced spending and lower taxes, in sending a letter beseeching Congress to honor its commitment to cut the sequester’s $109 billion in spending and continue to stave off tax hikes.

With a 16 trillion dollar and growing national debt, it is absolutely imperative that Congress take sensible steps to reduce the nation’s spending, and the BCA’s $1.2 trillion in deficit reduction over the next 10 years is as good a place as any to begin that process. Although some argue that the cuts to defense would put the nation's national security at risk, it is worth noting that the requested reduction in military spending under the BCA is only 10%, or in dollar amounts equivalent to the defense budget of George W. Bush in 2007. Not exactly draconian, and still preserving plenty of revenue to ensure the U.S.'s safety is not jeopardized. However, NTU and the other signers left the door open to altering the ‘across the board’ approach to the sequester cuts and urge reductions to other parts of the budget.

The slightly lesser portion of the cuts under the BCA come from non-defense spending (examples include education, food inspections and air travel safety), which would sustain a mere 8% cut.

Equally as vital to putting the U.S. on a fiscally sustainable path is a continued commitment not to raise taxes, including preserving the Bush Tax Cuts for all income levels. Allowing these to expire would result in higher income taxes for 90 percent of the population, with the average household seeing their taxes rise an astounding $3,500 per year. Investors would also sustain a hike in the capitol gains tax and a higher dividend tax, among other alterations to the code whose net result is taxpayers being forced to fork over more of their earnings to Washington.

It is obvious to fiscal conservatives and taxpayer advocates that significant changes must be made in the way that Washington taxes and spends in order to return our nation to fiscal soundness. The hastily approaching “fiscal cliff” offers Congress an opportunity to begin the tough work of downsizing spending, while honoring commitments they have made to not raise taxes on families.

 

 

 

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The Late Edition: November 8, 2012
Posted By:  - 11/08/12

Today’s Taxpayer News!

Amity Shlaes, a view columnist for Bloomberg, highlights NTU tax findings to place Tuesday’s take hike ballot initiatives in historical context.

Vice president Joe Biden asserts that Tuesday’s presidential election results translate into an almost inescapable “mandate” to raise taxes on higher income Americans.

According to a recent article citing Tax Policy Center data, if the Bush Tax Cuts are allowed to expire at the end of this year a full 90% of households will see their taxes increase, with the average household seeing taxes raised an astounding $3,500 per year.  

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