List of Tax Hikes in Democrat Reconciliation Bill

Photo source: ATR

$6.5 Billion Natural Gas Tax Which Will Increase Household Energy Bills       

$12 Billion Crude Oil Tax Which Will Increase Household Costs

$1.2 Billion Coal Tax Which Will Increase Household Energy Bills

Corporate Income Tax Hike on U.S. Businesses Which Will Be Passed on to Households

$124 Billion Stock Tax Which Will Hit Your Nest Egg — 401(k)s, IRAs and Pension Plans

95% Federal Excise Tax on American Pharmaceutical Manufacturers

$52 Billion Income Tax Hike on Mid-Sized & Family Businesses

Supersizing the IRS to Increase Audits – $124 Billion

Read more: List of Tax Hikes in Democrat Reconciliation Bill

Americans for Tax Reform: The Top 20% of Households Pay 88% of Federal Income Taxes

Photo source: TexAgs

The recently elected brain trust on all issues fiscal, Alexandria Ocasio-Cortez, has decided that the top earners do not pay their “fair share” and should have 70% of their income stolen, er, taxed. The following information, obtained from the Americans for Tax Reform, indicate exactly how much the wealthiest do contribute:

According to the Congressional Budget Office: 

-The top one percent of households pay 39.4 percent of federal income taxes and 26.2 percent of total federal taxes.

- The top 20 percent of households pay 88.1 percent of federal income taxes and 69.5 percent of total federal taxes.

- The top one percent of households pay an average income tax rate of 24 percent while the middle quintile pays an average income tax rate of 3 percent.

- The top one percent of households pay an average total tax rate of 33.3 percent while the middle quintile pays an average total tax rate of over 14 percent.  

- The top 20 percent of households pay an average total tax rate of 26.7 percent while the middle quintile pays an average total tax rate of 14 percent. 

Read more: The Top 20% of Households Pay 88% of Federal Income Taxes

Americans for Tax Reform Urges Senate to Reject Cotton/Kennedy Amendments to First Step Act

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“The costs, human and monetary, are too high to not pass the bill. Hugely long sentences for non-violent offenders ruin lives and families and drain taxpayer dollars. Senators should wholeheartedly support the FIRST STEP Act so it becomes law before the end of 2018.

This is the “first step” in bringing reform to a broken, expensive system. The reform will increase public safety by using proven methods to reduce recidivism, effectively driving down the prevalence and cost of crime for generations to come.”

Read more: ATR Urges Senate to Reject Cotton/Kennedy Amendments to First Step Act