Democrats eye 5 tax hikes on income, energy, guns, death
by Paul Bedard
| November 06, 2018 09:13 AM
A top free market advocate who was key in drawing up the 2017 GOP tax cut is warning Tuesday that a majority Democratic House will move to raise at least five taxes that will sock individual Americans, corporations, and heirs of the dead.
“Democrats are already measuring the drapes and your wallet. Vote as if your tax burden and your neighbor's job depended on it,†Grover Norquist, president of Americans for Tax Reform, told supporters in a memo.
He said that congressional sources and the media believe that Democrats want a tax increase on personal income, business income, guns, death and energy
“Democrats are already plotting to raise your taxes,†he said. He provided this list:
Personal income and small business tax hike. Democrats want to raise the top personal income tax rate to 39.6 percent, a major blow to households as well as small businesses who pay through the personal side of the tax code.
30 percent corporate income tax hike. Democrats want to raise the U.S. corporate income tax rate to 27 percent, a key Democrat told Politico this week. This would give the U.S. a higher rate than China and most countries in the developed world. Congressional Republicans and President Trump lowered the rate to 21 percent as part of the Tax Cuts and Jobs Act, which turbo-charged economic growth, job creation, and the highest wage increases in years. If Democrats hike the corporate tax rate to 27 percent it represents a 30 percent increase in the rate, putting Americans at a significant worldwide disadvantage, killing jobs in the process.
Death Tax Hike. Democrats have proposed a massive increase in the Death Tax. After working, saving, and paying taxes over a lifetime, families and businesses will get walloped with a much higher Death Tax bill under the Democrat plan.
Gun Tax Hike. Democrats have already introduced a bill to double the federal gun tax. The bill's sponsor has acknowledged he would like to make guns cost prohibitive and "outlaw them altogether."
National Carbon Tax. The official policy platform of the Democrat party calls for a national carbon tax on the American people. Such a tax would severely raise your utility bills and make everything you buy more expensive.
https://www.washingtonexaminer.com/washington-secrets/democrats-eye-5-tax-hikes-on-income-energy-guns-death
