taxing

…Increased Spending, Not Decreased Revenue!

By Mike Kapic / May 17, 2019 / Comments Off on …Increased Spending, Not Decreased Revenue!

Senator Grassley: Higher Deficits are Not Due to Decreased Revenue  by Stuart MacPhail  May 2019 The Des Moines Register (Iowa) published an editorial on the federal debt and annual deficit.  During March, Chuck Grassley, Iowa’s senior Senator responded with a guest editorial, suggesting that the newspaper’s editorial “misses key context about the cause of the problem and how…

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It’s the Spending!

By Mike Kapic / March 8, 2019 / Comments Off on It’s the Spending!

WSJ  February 23, 2019 Letter to the Editor Seek a Spending Revolution, Not a Tax One The question isn’t how much we should tax; it is how much we can spend. 269 words “The Next Tax Revolution?”(Review, Feb. 16) ends with the Center for Economic and Policy Research’s Eileen Appelbaum opining: “It’s just become so…

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America’s Untethered Debt Crisis

By Mike Kapic / October 15, 2018 / Comments Off on America’s Untethered Debt Crisis

There is a solution, but we’ve been chasing the wrong target. By Mike Kapic October 15, 2018 Why do Democrats (and some Republicans) insist on increasing taxes when history shows us that lowering tax rates increases revenues to the government? Politician’s on both sides of the aisle have proved the thesis over the last century.…

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The next step in restraining the federal beast

By Mike Kapic / January 1, 2017 / 0 Comments

As President-elect Trump prepares to begin his presidency, it’s time to build a wall of a different kind than the one he has in mind. It’s time to build, or to re-build, rather, the wall that limits the respective powers of the president, the Congress and the Washington, D.C., […] Click here to view original…

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County to Limit Taxing Authority

By Mike Kapic / November 29, 2016 / 0 Comments

By wide margin, Madison County votes to limit taxing authority  Rob Natelson | Contributed photo| 11/28/16 A referendum passed by Madison County voters to limit their tax rate hasn’t received much press, but is a good example of how taxing and spending should be handled by voters — rather than lawmakers — a conservative senior…

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…Increased Spending, Not Decreased Revenue!

Senator Grassley:
Higher Deficits are Not Due to Decreased Revenue 

by Stuart MacPhail  May 2019

The Des Moines Register (Iowa) published an editorial on the federal debt and annual deficit.  During March, Chuck Grassley, Iowa’s senior Senator responded with a guest editorial, suggesting that the newspaper’s editorial “misses key context about the cause of the problem and how best to solve it”.

He continued “Let’s start with the myth that the recent Tax Cuts and Jobs Act – which has allowed the average Iowa family of four to see their taxes cut by more than half, or about $2,100 – is somehow the cause of the ballooning federal deficit.”

Grassley noted that “The U.S. Treasury is expected to receive more tax revenue for 2018 than it did in 2017, before the tax law took effect.  And in fiscal year 2018, the Treasury took in $3.328 trillion, up from $3.316 trillion in fiscal year 2017.  Those are just the facts.”

Put another way,” he said, “if more money is being taken in by the federal government after it cut taxes yet deficit spending is higher, that must mean the difference is because of increased spending, not decreased revenue.”

“And that’s why I’ve long-supported a federal balanced budget amendment to the United States Constitution that would control federal spending and impose fiscal discipline in Washington.”  Read Senator Grassley’s guest editorial HERE.

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