Commentary: An Economic Bill of Rights for the 21st Century

Manual Labor

Beginning April 1, the minimum wage for employees working in California’s fast food chains and health care industries will rise to $20 per hour and, in some cases, up to $23 per hour. Many employers managing independent restaurants, retail, and other industries will have to match the higher hourly rate to retain employees. And for hourly employees whose wages are indexed to the minimum wage, mostly in California’s unionized public sector, wages will rise proportionately.

There is no national consensus on the impact of minimum-wage laws. It is part of a much larger debate over what constitutes an optimal economic environment to enable, quoting from Franklin Delano Roosevelt, “economic security and independence.”

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Beacon Center of Tennessee Publishes State’s 2023 Pork Report

The Nashville-based Beacon Center of Tennessee published its annual Pork Report on Wednesday, highlighting the wasteful spending of taxpayer dollars this past year across the Volunteer State.

Examples of “offensive” and “wasteful” uses of Tennessee taxpayer money highlighted in the 2023 Pork Report include the nearly $5 million taxpayer subsidy given to benefit the California burger chain In-N-Out’s move to Tennessee, large property tax increases in multiple counties, and the City of Memphis giving out over $1 million to a TV show on the verge of cancellation.

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As Joe Biden Promised Tax Fairness, His Son Rushed to Erase His Delinquent Taxes, IRS Memos Show

As Joe Biden marched toward the presidency in 2020 with a promise to force the wealthy to pay their “fair share” of taxes, his son Hunter was scrambling behind closed doors to clean up a trail of his own delinquent taxes before they became an election scandal, according to once-secret IRS memos made public recently by Congress.

IRS agents would soon discover that the future first son was continuing to allegedly misrepresent his income and deductions to the very accountant he had hired to help, the memos show.

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Ohio House Passes Bill Focused on Providing Property Tax Relief

The Ohio House of Representatives passed a bill this week focused on providing property tax relief to Ohioans.

If enacted, the Ohio Homeowners Relief Act would modify the procedures used by the tax commissioner to conduct property tax sales assessment ratio studies. Specifically, the bill would require the commissioner to work alongside local elected officials and weigh the past three years of a county’s property values in order to determine property taxes instead of just one.

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Report: Michigan Losing Ground, Could Raise Taxes to Provide More Services

The Citizens Research Council of Michigan released its final paper on how to make Michigan prosper by increasing population.

The five-part series found Michigan is losing ground in the nationwide competition to attract and retain residents, counting statistics from demographics, economy, workforce, health, infrastructure, environment and public services.

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Commentary: The New Right Cares About More than Taxes

New research is challenging assumptions about the Republican Party’s core values, showing the GOP of the 2020s is an entirely different animal from the GOP of the 2010s. The research captures an increasing shift toward populism and America First priorities that has been growing since Former President Trump’s election in 2016.

The study by American Compass divides Republicans into two camps, the Old Right and the New Right, based on their economic priorities and approach to cultural issues.

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Arizona Free Enterprise Club Gives 17 Arizona State Politicians 100 Percent Ratings in Its 2023 Scorecard

The Arizona Free Enterprise Club (AFEC) issued its annual ratings of legislators this month, with four state senators and 13 state representatives receiving perfect scores. The scorecard analyzed 25 bills in the House and 30 in the Senate during the 2023 session that addressed priority issues for AFEC. Many legislators scored well since “[f]or most of the legislative session, the caucuses in the House and Senate were unified, and there was less bad policy that made it onto the floor for a vote in either chamber.”

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Commentary: Tax Relief Is Coming to Millions of Red-State Residents in Ohio, Connecticut, and More

July marked the beginning of Fiscal Year 2024 for 46 of the 50 states. It also closes the books on most state legislative sessions in what was an incredible 2023 for hard-working taxpayers.

In recent years, we’ve seen significant income tax relief in the states. Notably, 10 states – Kentucky, West Virginia, Montana, Utah, Arkansas, North Dakota, Indiana, Nebraska, Connecticut, and Ohio – have cut personal income taxes (PIT) in 2023. With the new addition of West Virginia, North Dakota, and Connecticut, 22 states have cut personal income taxes since 2021, with several of these states cutting taxes multiple times during that period.

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Commentary: The Surprising Origins of the ‘No Taxation Without Representation’ Slogan

Ask most Americans where the slogan “No taxation without representation!” came from and the likely response will be “American colonists protesting against Britain in the 1760s.” But the spirit, if not the precise letter of the phrase, originated more than a century before. Moreover, we can thank the Brits themselves for it. It started with something called the “ship tax.”

Since the early Middle Ages, English custom allowed the monarch to impose a special levy in times of war upon citizens who lived in coastal settlements. They could meet the requirement by providing ships, shipbuilding materials, or money for the Crown to build ships (hence the name, “ship tax”). Kings and Queens levied the “tax” as a royal prerogative, meaning they skipped the annoyance of securing the consent of Parliament as required in the Magna Carta of 1215.

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$412 Million Tax Cut Headlines Tennessee Bills That Become Law Saturday

Many of the laws passed during the recent Tennessee Legislative session will go into place July 1, the beginning of the new fiscal year, including a $412 million tax cut.

That cut includes $272.8 million toward a three-month grocery tax holiday between Aug. 1 and Oct. 31 along with changing the state franchise and excise business taxes to single sales factor taxes like 32 other states.

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IRS Whistleblower: Hunter Biden Hasn’t Paid Taxes on 2014 Money from Ukrainian Oligarch’s Firm

Federal agents secured evidence that Hunter Biden engaged in a “pretty classic tax evasion scheme” that allowed him to avoid paying taxes on millions of dollars in income since at least 2014, and the deal he ultimately got would not have been afforded to other Americans facing such serious charges, an IRS whistleblower who supervised the investigation tells Just the News.

“If these facts were from the local businessman or the neighbor next door, they would have been charged, they would have already probably had their entire sentence,” IRS Supervisor Agent Gary Shapley said during a 45-minute interview aired Thursday on the John Solomon Reports podcast.

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Feds Built Case Hunter Biden Evaded $2.2 Million in Taxes Dating to 2014 Before Being Thwarted

If Hunter Biden pleads guilty next month as expected to two misdemeanor tax evasion charges, he’ll be admitting he shorted the U.S. government of about $100,000 in taxes he owed in 2017-18.

But it’s a far cry from the evidence the IRS and FBI developed showing a pattern of tax evasion and avoidance that stretched back to his father’s term as vice president a decade ago, according to newly released documents and testimony.

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Ramaswamy: Plea Deal Keeping Hunter Biden out of Prison Is a ‘Joke,’ the ‘Perfect Fig Leaf’

GOP presidential candidate Vivek Ramaswamy is blasting a plea deal announced Tuesday that will keep President Joe Biden’s troubled son out of prison on two federal misdemeanor counts of failing to pay his taxes and a separate felony charge of possession of a firearm by a known drug user.

Multiple news outlets are reporting that Hunter Biden and his attorneys have reached an agreement in which U.S. Attorney David Weiss would recommend probation on the tax violations. The younger Biden also would avoid prison time on the gun possession charge, “subject to a pretrial diversion agreement,” his attorney said in a statement.

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Property Taxes Climb 3.6 Percent Across U.S. to $339.8 Billion

Property taxes levied on single-family homes in the United States increased 3.6 percent to $339.8 billion in 2022, according to a new report from a real estate data firm.

That’s up from $328 billion in 2021. The 2022 increase was more than double the 1.6 percent growth in 2021, but smaller than the 5.4 percent increase in 2020, according to the report from ATTOM, a property data provider.

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Poll: 73 Percent of Taxpayers Say Government Doesn’t Use Their Taxes Wisely

Ahead of Tax Day on April 18, 73% of taxpayers said the government doesn’t use their taxes wisely, a new survey found. A separate report found that red states have the better taxpayer return on investment.

Wallethub’s “Taxpayer Survey” found that 28% of respondents said charities would better spend their money; 26% said local governments would best spend their money, followed by state government (22%), the federal government (16%) and religious groups (13%).

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Georgia Senate Says Kids Don’t Need Permits or to Pay Taxes on Lemonade Stands

As a parent, T.L. Matthew knows setting up a lemonade stand can be fun and educational.

“In my personal experience, setting up a lemonade stand with my daughter was a fun and rewarding bonding experience that taught her valuable skills in communication, entrepreneurship, and money management,” Matthew, the CEO and founder of Fayetteville-based SumFoods, told The Center Square via email. “Unfortunately, in many states, kids who try to set up their own businesses have been bogged down by unnecessary regulations and taxes, forcing them to obtain permits and licenses or risk being shut down or fined.”

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‘2023 Property Taxpayer Protection Act’ to be Taken up by General Assembly this Week

A bill that would protect property taxpayers from bearing the brunt of new residential development across the state is set to be taken up in the General Assembly this week.

The “2023 Property Taxpayer Protection Act” will remedy a disparity between the ways in which cities and counties are able to fund the expansion of services brought on by the accelerated growth Tennessee is experiencing which was created by the 2006 County Powers Relief Act.

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Tennessee Commission Reports at Least $62.9 Billion of Public Infrastructure Improvement Needs

The Tennessee Advisory Commission on Intergovernmental Relations (TACIR) announced last week the release of its 21st annual report on the public infrastructure needs across the state during the five-year period of July 2021 to June 2026.

The latest report, “Building Tennessee’s Tomorrow: Anticipating the State’s Infrastructure Needs,” indicates there is $1.2 billion or 2 percent increase over the year before. And while the costs have increased for the seven straight reporting period, they decreased when adjusted for inflation and population.

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Tennessee’s December Revenues $217 Million More than Budgeted

Tennessee revenues for December were $217.2 million more than budgeted and represented growth of nearly five percent over December 2021, according to Friday’s announcement by the state’s Commissioner of Finance and Administration Jim Bryson.

December is the fifth month, on an accrual basis, of the 2022-2023 fiscal year, and the year-to-date revenues are $959.9 billion in excess of what was budgeted and $655 million over the same time last fiscal year.

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Arizona State Senate Majority Caucus Promises to Keep Republican Values at the Center of Legislation Going into New Session

The Arizona State Senate Republican Caucus (Caucus) released its 2023 Majority Plan on Thursday, outlining priorities and approaches to strengthening the state and tackling important issues. Kim Quintero, director of communications for the Caucus, told The Arizona Sun Times that the elected officials would do their best to honor the Republican values they ran on while working under newly sworn-in Gov. Katie Hobbs (D).

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Minnesota Ranks in the Top Five States for Cigarette Smuggling

A new study released by The Tax Foundation this week reports high tax rates on cigarettes induce smuggling of tobacco products from low-tax states or foreign sources into high-tax states.

“States and municipalities have spent millions to combat cigarette smuggling. Recent policy responses include greater law enforcement activity on interstate roads, differential tax rates near low-tax jurisdictions, banning common carrier delivery of cigarettes, and cracking down on tribal reservations that sell tax-free cigarettes,” the “Cigarette Taxes and Cigarette Smuggling by State, 2020” report said. “However, the underlying problem persists. High cigarette taxes act similarly to a ‘price prohibition’ on the legal product in many U.S. states, incentivizing smuggling and illicit activity.”

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Central Arizona Water Conservation District Candidates Discuss Water Shortage, Taxes at EZAZ Forum

The grassroots group EZAZ held a forum featuring the candidates running for the Central Arizona Water Conservation District (CAWCD) Board of Directors on Sunday. At least one of the candidates, Republican Legislative District Chair Cory Mishkin, said the coming water shortage was manageable, and called out California for causing problems. A couple of the candidates expressed concern that property taxes are being used to subsidize developers and municipalities.

Jeff Caldwell, EZAZ’s secretary and volunteer coordinator, asked each candidate five questions, as well as allowing them to give opening and closing statements. The candidates were not provided the questions in advance.

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Tennessee Collects Record $8.7 Million in Taxes on September Sports Betting After June Rule Change

Tennessee collected $8.7 million in taxes on $336.9 million in sports wagers in September, according to new numbers from the state’s Sports Wagering Advisory Council.

The taxes are more than the state has collected in a month since wagering opened in November 2020. The previous high was $5.9 million collected in November 2021.

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Cato Institute Gives Governor Bill Lee ‘D’ Grade on State Fiscal Policy Report Card

The Cato Institute released its 2022 Fiscal Policy Report Card on America’s Governors on Wednesday, which grades the governors of all 50 U.S. states on their fiscal policies from a limited-government perspective.

According to its website, the Cato Institute is an American libertarian think tank that “promotes an American public policy based on individual liberty, limited government, free markets and peaceful international relations.”

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Commentary: Can’t Forget the Motor City

“In the 1950s,” writes J. Eric Wise in “The French Exit: A Detroit Love Story,” Detroit was “outwardly living well, a very healthy city, technologically advanced, with economic diversity, prosperity, peace, and civil life supporting the arts and sciences.” That is no exaggeration, as this writer can testify. 

As Wise explains, Detroit prospered enormously from World War II and attracted workers from far and wide. My father, a mechanical engineer, was among them. In 1952, he moved our family from Alliance, Ohio, to Detroit, Michigan. The Big Three automakers gave him all the work he could handle.

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Blake Masters Receives Endorsement from Leading Small Business Advocacy Organization

Trump-endorsed Arizona Senate nominee Blake Masters received another big-ticket endorsement Thursday, this time from the National Federation of Independent Business (NFIB), the national leading small business advocacy group.

“Blake Masters has experience working in the business community and will be a strong supporter of Arizona’s small businesses in the U.S. Senate,” said Chad Heinrich, NFIB Arizona State Director. “His top priority in Congress will be to get the economy back on track and to create a pro-small business environment. He has also expressed an interest in improving workforce training, which will help small businesses immensely as they continue to manage a worker shortage. We are proud to endorse Blake Masters today and look forward to working with him.”

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Tennessee Collects $4.9 Million of Taxes on $206 Million in Online Sports Wagers in August

Tennessee collected $4.9 million in sports gambling taxes in August, up more than $1 million from July, according to numbers released by the state’s Sports Wagering Advisory Committee.

The funds came from nearly $206 million of wagering with sports gambling sites from the state’s 12 online sports books making $24.4 million in adjusted gross income during the month.

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Commentary: Long-Term Study Finds That Higher Corporate and Personal Taxes Lower Real GDP

by Ross Pomeroy   One of the main planks of President Biden and congressional Democrats’ agenda is making corporations and high-earning Americans “pay their fair share” through higher taxes. But a recently published analysis in the journal SAGE Open delving into sixty years of U.S. economic data from 1960 to 2020 suggests that their proposal, if implemented, could backfire. “In short, as the top corporate rate or top personal rate goes higher, real GDP per capita decreases,” the authors, Ted Peterson, an Adjunct Professor in the Department of Political Science, and Zachary Blair, a recent graduate focusing on advanced financial analysis, reported. Peterson and Blair sought to explore how the top corporate and personal tax rates correlated with real gross domestic product (GDP) per capita, which shows a country’s economic output per person adjusted for inflation. Though imperfect, the measure is considered a proxy for the economic wellbeing of a country’s citizens. In the United States, the corporate tax rate currently stands at 21%, lowered from 35% in 2017 when President Trump and congressional Republicans passed the Tax Cuts and Jobs Act of 2017. The top personal tax rate for 2022 is 37% for individual incomes over $539,900 or $647,850 for married couples filing jointly. President…

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Arizona Republican Lawmakers React to the U.S. Senate Passing the ‘Inflation Reduction Act’

On Sunday, the US Senate passed the Democrat-backed $740 billion “Inflation Reduction Act” by a 51 to 50 vote, with Vice President Kamala Harris casting the deciding vote. Many Arizona Republican lawmakers are among those claiming the bill will further impact inflation in a negative way while offering no real-time solution to struggling Americans.

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Senators Bill Hagerty and Marsha Blackburn Lambaste Passage of ‘Inflation Reduction Act,’ Warn Higher Prices, Taxes are Coming

U.S. Senators Marsha Blackburn (R-TN) and Bill Hagerty (R-TN) criticized President Joe Biden and their Democrat colleagues on the passage of the $740 billion “Inflation Reduction Act” Sunday. As expected, no Republicans supported the measure, and so by a 51 to 50 vote, with Vice President Kamala Harris cast the deciding vote.

The Inflation Reduction Act, described by Forbes as “a slimmed-down version of the Build Back Better bill,” allows the government to control the price of prescription medications, contains funding for fighting climate change, would implement larger taxes for wealthy corporations, expand the IRS by some 87,000 agents, and more more.

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Trump: ‘America Is on the Edge of an Abyss’

Donald Trump on Saturday delivered stinging rebukes of the Biden administration at the Dallas Conservative Political Action Conference, one of a continuing series of indications that the still-popular former president has set his sights on a return to the White House for 2024.

Trump during his speech declared that the U.S. “is being destroyed more from the inside than the out,” and that the country “is on the edge of an abyss, and our movement is the only force on earth that can save it.”

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Commentary: Yes, Taxes Can Drive People to Move

Many people will tell that people choose to live somewhere based on factors like the weather or proximity to family, and that taxes don’t enter into the equation. While there is a lot of truth to that understanding, when taxes reach a certain point, they can cause people to alter their behavior. Have you heard of voting with your feet? Here’s how that exact concept is playing out for two Iowa families.

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