Tom Reed on Taxes

Ailes-truthWith April fifteenth right around the corner, the taxpayers in the Southern Tier and Finger Lakes do not need a reminder it is tax season. Under the current tax code no one is being treated fairly. That is why I am committed to fostering a tax code that is simple, fair, and competitive. The current system is unfair and New Yorkers are fed up.–Rep. Tom Reed

This New Yorker didn’t know he was “fed up” until Tom told me. Thanks, Tom, maybe I should be fed up. Tom says our tax code is unfair to all; he has a point.

  • Profitable corporations avoid taxes.
  • Wealthy individuals benefit from numerous tax breaks.
  • By underfunding enforcement, Congress facilitates cheating.
  • A GOP proposal to repeal Federal estate taxes is more welfare for the rich.

Tom says he favors a tax code that is simple, fair, and competitive; what does he mean by that?

  • Simple probably means some sort of flat tax–more welfare for the wealthy.
  • Fair, probably means even less progressive rates than at present.
  • Competitive? Tom is known to favor low rates for businesses; could that be his point?

Republican attacks on the IRS are unrelenting, unjustified and seditious. Do they intend to undermine the people’s confidence in government? How far would they go and to what end? When Reed says he wants to “protect the American taxpayer,” I worry. Who will protect us from Tom Reed? If Congress would lower taxes for the 1% and raise them for everyone else, would that be fairer? Would our country be better off?

© William Hungerford – April 2015

http://reed.house.gov/press-release/reed-acting-protect-american-taxpayer

 

 

 

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About whungerford

* Contributor at NewNY23rd.com where we discuss the politics, economics, and events of the New New York 23rd Congressional District (Allegany, Cattaraugus, Chautauqua, Chemung, (Eastern) Ontario, Schuyler, Seneca, Steuben,Tioga, Tompkins, and Yates Counties) Please visit and comment on whatever strikes your fancy.
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12 Responses to Tom Reed on Taxes

  1. josephurban says:

    We have been hearing about tax reform since…oh…the Boston Tea Party. Seems to me every tax reform we have had in the last 40 years has been one designed to redistribute the wealth from the bottom to the top. I fear any tax reform that Reed would support.
    Want to balance the budget? Easy. Just collect the taxes that are owed. Support the IRS and go after the wealthy tax cheats. Won’t happen.

    https://josephurban.wordpress.com/2014/04/16/i-love-the-irs/

  2. Anne says:

    If Reed thinks it’s a good idea, he’s in it for Reed. Which means the rest of us are screwed. He likes to whine about the amount of money people spend every year just to get their taxes done; watch out, CPA’s, a bunch of you are about to get tossed out of business! Maybe Reed would find the whole tax thing less onerous if he’d manage to pay his own on time, thus avoiding all those penalties.

  3. whungerford says:

    “Who could be against the IRS ? Tax cheats? Crooks? Organized crime? Money launderers for drug cartels?” Yes, and irresponsible politicians.

  4. BOB McGILL says:

    cfif.org/…taxes…/985-us-tipping-point-51-of-households-now-pay-no- income-taxes‎
    May 5, 2011 … The portion of U.S. households paying zero federal income taxes … That means
    the top 5% pay more in taxes than the entire remaining 95% of …

  5. BOB McGILL says:

    ah, everybody ! 🙂

    https://www.nationalpriorities.org/budget-basics/federal…/revenues/‎Cached
    The federal government raises trillions of dollars in tax revenue each year,
    though … This pie chart below shows how much each of these revenue sources
    is …

  6. BOB McGILL says:

    wasn’t that property tax he paid late ? 🙂

  7. josephurban says:

    Well. That is how it should be . Approximately 400 families have the same total wealth as the bottom 50% of Americans. (2007 statistic.$ 1.6 trillion vs. $1.7 trillion in total wealth). They SHOULD pay the most taxes. That just shows how wages have stagnated for workers and risen for the top 5%. You make the point. Wages for workers have hardly risen since 1972 yet the incomes for the extremely wealthy have skyrocketed. And the GOP has just passed a bill eliminating estate taxes on the top 1% .(Paris Hilton is happy. She has worked hard for her money). So, half of Americans pay no income taxes. Guess what, Bob. TWO-THIRDS of US corporations pay no income taxes. Thanks to the tax laws. Tax breaks for the wealthy and corporations are built into the system.

    (PS. If any of your billionaire friends want to trade their income and taxes for mine, please let me know. I would hate for them to feel overburdened.)

    http://www.huffingtonpost.com/2012/01/10/corporations-pay-no-tax_n_1196875.html

  8. Deb Meeker says:

    Ah, the GOP’s version of fair US income tax is … “Fair and Square” turned into making Mitt’s 47% into “Fair Game”.

  9. Anne says:

    It was, indeed. But then, we’d have no way of knowing whether his income taxes are paid in a timely manner, since he won’t release his tax return information. But of course, on the Tom Planet, a tax is a tax, and they’re all bad, of course, just as a horse is a horse, and it’s too bad we can’t go right to the source and ask (although, the horse’s mouth is not the particular piece of equine anatomy one thinks of when one thinks of Tom Reed. Of course, of course.)

  10. BOB McGILL says:

    AH, corporations don’t pay taxes, taxes are just added to the cost of the goods produced. The U.S. Census Bureau reported in September 2014 that:

    U.S. real (inflation adjusted) median household income was $51,939 in 2013 versus $51,759 in 2012, statistically unchanged.
    In 2013, real median household income was 8.0 percent lower than in 2007, the year before the latest recession.
    Real median household income averaged $50,781 from 1964-2013, ranging from a low of $43,558 in 1967 to a high of $56,895 in 1999.[1]
    Journalist Annie Lowrey wrote in September 2014: “The root causes [of wage stagnation] include technological change, the decline of labor unions, and globalization, economists think, though they disagree sharply on how much to weight each factor. But foreign-produced goods became sharply cheaper, meaning imports climbed and production moved overseas. And computers took over for humans in many manufacturing, clerical, and administrative tasks, eroding middle-class jobs growth and suppressing wages.”

  11. josephurban says:

    Bob.. Median income is a fairly useless statistic. Similar to mean income. (median is the number exactly in the middle of a distribution; mean is the average). To understand income inequality and how it has changed over time you need to look at the percentage of income collected by each segment of the population. The following is from the US Census Bureau Report at the end of 2012. Table 1 shows the distribution of income by quintile for different years. The trend has been clear and unremitting. While the US economy has produced more wealth, the concentration of that wealth has been upward, not downward. Reagan’s rising tide has raised only the yachts, not the rowboats.
    For example: In 1968 the bottom 40% of the US had only 15% of the income, while the top 5% of the US had 16% of the income. A very big difference. By 2011 the bottom 40% had seen their share drop to only 11.6% of the total income, while the top 5% now had 22% of the total income (and the bulk of that is concentrated in about 400 families).
    The tax laws have favored the elites and continue to do so.
    As my deceased mother used to say: “The rich get richer and the poor get poorer.” More true today than ever.
    Now to the statements of your analyst. Yes, foreign goods are cheaper. Why? Low or slave wages, No environmental laws. No health care or other benefits provided to workers. Free trade agreements are really slave labor vs. paid employee agreements.And the US Congress has chosen short term profits over long term economic development.

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