Joe Biden and his Democrat hit-men in Congress are readying a $1.2 trillion companion bill to their $3.5 trillion “healthcare and antipoverty” proposal. Six-hundred billion of the $1.2 trillion reportedly will be spent on “infrastructure.”
“Inflation is a terrible form of increasing taxes because hardly anyone realizes it is a hidden tax increase,” said Jim Tobin, economist and president of Taxpayer Education Foundation (TEF). “It is a stealth tax that can sap the vitality of a country’s economy.”
View As PDF According to Reason magazine, 60 Percent of taxpayers will pay more, and as many as 75 percent of middle income households face a tax increase under Joe Biden’s proposed tax-hike plan....
A recent report by the nonpartisan Washington-based Tax Foundation indicates that Illinois has the second-worst pension deficit in the country.
“Illinois Governor Jay Robert ‘J. B.’ Pritzker is pushing the Illinois General Assembly to take action by the end of this month, when the fiscal year and the legislative session ends, on numerous destructive tax increases,” said Jim Tobin, economist and president of Taxpayer Education Foundation (TEF). “It should be noted that Pritzker includes NO reforms in his proposals.”
“The surest way to wealth during the Covid economy is to have an Illinois state government pension,” said Matthew Schultz, executive director of the Taxpayers Education Foundation (TEF). “TEF has analyzed the six major pension funds, and the first study we are going to release is about the worst offender: GARS, (the General Assembly Retirement System).”
In a recent Wall Street Journal article, former Federal Reserve Chair and now Treasury Secretary Janet Yellen subjected the Journal’s readers to a series of statements in classic Federal Reserve doubletalk regarding the prospect of inflation and its causes.
“It is fitting that President ‘Uncle Joe’ Biden chose Amtrak’s 50th anniversary celebration to plug his proposed $2.3 trillion ‘infrastructure’ proposal,” said Jim Tobin, economist and president of Taxpayer Education Foundation (TEF). “Amtrak is the gift that keeps on taking. It’s like going to the store and paying $1,000 for a jar of honey. The product is sweet, but the cost is horrendous.”
“When it comes to the three criteria CEOs tell us they value most in site selection—tax policy (37 percent rank it first), regulatory climate (35 percent) and talent availability (25 percent)—Texas and Florida outclass all comers,” according to Chief Executive magazine. As Kathy Mussio of Atlas Insight put it, speaking of Florida, “Sunshine, low taxes, Covid openness: What talent wouldn’t want to move there? You can save enough in taxes…to make a down payment on a house in Florida.”