Tennessee continued its trend of growing a financial surplus as the state ranked sixth nationally for its fiscal health, according to Truth in Accounting’s annual Financial State of the States report.
Using numbers that included data from the fiscal year that ended in June 2020, Tennessee had $8.7 billion more than it owed in obligations, amounting to a $4,400 surplus per taxpayer and earning a grade of B in the report, which was released Tuesday.
The state had a $3,400 surplus per taxpayer the year before. Read More
Over the course of the pandemic, federal overspending has exploded even by Congress’s lofty standards. While trillion-dollar deficits were a cause for concern before 2020, spending over just the last two years is set to increase the national debt by over $6 trillion. It’s bizarre, then, that the only thing that members of opposing parties in Congress can seem to work together on is fooling the budgetary scorekeepers with phantom offsets for even more spending.
In total, the bipartisan infrastructure deal includes around $550 billion in new federal spending on infrastructure to take place over five years. Advocates of the legislation claim that it is paid for, but they are relying on gimmicks and quirks of the budget scoring process to make that claim.
Take the single biggest offset claimed — repurposing unused COVID relief funds, which the bill’s authors say would “raise” $210 billion (particularly considering that at least $160 billion have already been accounted for in the Congressional Budget Office (CBO) baseline). Only in the minds of Washington legislators does this represent funds ready to be used when the national debt stands at over $28 trillion. Read More
“Columbia and other wealthy universities steer master’s students to federal loans that can exceed $250,000. After graduation, many learn the debt is well beyond their means,” notes the Wall Street Journal.
The Journal reports on Columbia University’s Master of Fine Arts Film program, one of the worst examples, in an article titled “Financially Hobbled for Life: The Elite Master’s Degrees That Don’t Pay Off”:
Recent film program graduates of Columbia University who took out federal student loans had a median debt of $181,000. Read More
Arizona Governor Doug Ducey is expected to sign a budget bill the Arizona Legislature sent to him on Friday that includes a historic tax reform package. HB 2900 implements the lowest flat tax in the country, 2.5%. The average Arizona family will see a 13% income tax reduction, about $350 per year. According to the nonpartisan Tax Foundation, Arizona previously had one of the highest marginal income tax rates in the country.
The budget bill also eliminates taxes on veterans’ retirement pay and prevents a 77% increase on small business taxes. It reduces property taxes by 10% on small businesses and job creators by 10%, capping the maximum tax rate on businesses at 4.5% and reducing commercial property taxes. According to a report by Ducey, 43% of Arizonans in the private sector work for small businesses. HB 2900 increases the homeowner’s rebate so the state covers half of homeowners’ primary property taxes. Read More
Taxpayers are coming to Arizona from other states by the tens of thousands and bringing billions of dollars in annual earnings with them.
The Internal Revenue Service released its annual migration statistics, a record of address changes by filers and their dependents between tax years. The data released in late May reflects changes from the 2018-2019 tax years, which symbolize moves that occurred between 2017 and 2018. Nationwide, 8 million people relocated to either another state or county.
Arizona gained 218,736 new taxpayers in that time. Having lost 152,769, that’s a net gain of 65,967 exemptions from one tax year to the next. That’s nearly 1,000 more than the previous tax year. Read More
California residents of all ages and incomes are leaving for more tax friendly climates, and they’re taking billions of dollars in annual income with them.
The Internal Revenue Service recently released its latest taxpayer migration figures from tax years 2018 and 2019. They reflect migratory taxpayers who had filed in a different state or county between 2017 and 2018, of which 8 million did in that timespan.
California, the nation’s most-populous state, lost more tax filers and dependents on net than any other state. Read More
A spokesperson for the Biden Administration’s State Department confirmed the possibility that some of the aid being sent to the Palestinians could go to the terrorist organization Hamas, according to the Washington Free Beacon.
The administration is allocating up to $100 million of American taxpayers’ money to go to the Palestinians, but has repeatedly declined to confirm if there are any safeguards in the aid package that could prevent some of the funds from going to Hamas, the terror group that is responsible for thousands of unprovoked rocket attacks on Israel in recent weeks.
An unnamed senior official with the State Department said that “as we’ve seen in life, as we all know in life, there are no guarantees,” with regards to the possibility of terrorists getting their hands on some of the funds. Read More
Wednesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed all-star panelist Crom Carmichael in studio to discuss the disincentive policies made by blue states by giving an example of New York’s rising tax rates. Read More
Monday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Metro Councilmember Steve Glover to the newsmakers line to weigh in on the new capital spending plan and working with left-wing council members. Read More
Senator Elizabeth Warren (D-MA) recently revived her campaign proposal for a wealth tax on taxpayers with a net worth exceeding $50 million. Unfortunately, the plan retains the same defects as her previous proposals to tax wealth, along with the same distortions she used to defend it last time.
Warren’s proposal, introduced along with companion legislation in the House sponsored by Rep. Jayapal (D-WA) and Rep. Boyle (D-PA), would tax wealth above $50 million at a rate of 2 percent, and wealth above $1 billion at a rate of 3 percent.
Senator Warren has routinely presented her wealth tax proposal as a minor, moderate tax on the ultra-wealthy. Just as she did on the presidential campaign trail, Warren is describing her plan as a “two cent” tax. This dishonest framing allows Warren to pretend that the tax is small. Read More
Wednesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Managing Director of Music City Baseball John Loar to the newsmakers line to discuss bringing Major League Baseball to Nashville. Read More
Arguably, Los Angeles Mayor Eric Garcetti is the most incompetent, destructive, negligent, no good, irresponsible mayor in American history. And he’s got plenty of competition right now. San Francisco’s London Breed, Ted Wheeler in Portland, and Bill de Blasio in New York City are all top contenders. Blue City mayors bent on destroying civilization are plentiful, but Garcetti is the worst member of this odious gang. Read More
While the Tennessee Titans and Nashville Mayor John Cooper are talking about renovating Nissan Stadium and extending the team’s lease, a price tag for taxpayers has not been disclosed.
The franchise and the city announced their discussions last week, The Tennessee Star reported. The negotiations have been going on for some time, but the team said it was making the process public, citing a story by The Tennessean. Something should be known in about six months. Read More
Monday morning on the Tennessee Star Report, host Leahy welcomed Major League Baseball executive Dave Dombrowski to the show to discuss their plans for building a stadium in Nashville. Read More
The Affordable Care Act mandated that states accept a hospitals’ decision on the eligibility of all able-bodied adults who verbally report their income to be below the Medicaid level, which has led to many fraudulent eligibility claims, according to a report published Monday.
The Foundation for Government Accountability (FGA) report examined recently released data from state Medicaid agencies. It specifically looked at the government Medicaid funds that were wasted through false hospitals’ presumptive eligibility (HPE) determinations. Read More
Friday morning on The Tennessee Star Report, host Michael Patrick Leahy welcomed Nashville attorney Jim Roberts to the newsmakers line to give updates on the Nashville Taxpayer Protection Act petition. Read More
School districts around the country have been announcing reopening possibilities for the upcoming school year. The options often include full-time virtual learning, two or three in-person days at school, or a combination of the two.
In a few districts, I’ve seen four or five suggestions. Read More
Live from Music Row Wednesday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – host Leahy welcomed guest Metro Councilman-at-Large Steve Glover to the newsmakers line. Read More
Breitbart reports, “American taxpayers are billed up to $133,000 per refugee resettled in the United States over the course of a lifetime, a new study reveals.”
In a recent report on the costs to U.S. citizens for its welcoming immigration and refugee policies, the Center for Immigration Studies (CIS) finds that each refugee resettled in the U.S. especially those in the United States illegally, and use social welfare programs cost American taxpayers anywhere on average between $60,000 and $133,000 over the course of a lifetime. Read More
Tennessee Republican Gov. Bill Lee hemmed, hawed, and waffled Friday as he tried to defend his controversial decision to allow more refugees to resettle in Tennessee. This happened when he appeared on Nashville’s Morning News with Brian Wilson, broadcast weekday mornings on 99.7 FM WWTN. Lee was incoherent while… Read More
Live from Music Row Thursday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – Leahy was joined in studio by all-star panelist Carol Swain to listen to calls from the Bless Their Heart line. Read More
Live from music row Tuesday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – Leahy welcomed in-studio guest Melissa Smithson, Chairman of the Davidson County Republican Party to the show to speak about her new show on Fox News 17 and Mayor Cooper’s recension of ex-Mayor Briley’s illegal executive order that demanded Metro employees NOT cooperate with ICE officials. Read More
No matter who your district hires—whether from within or bringing in an experienced educator from outside—give that new leader a chance. Don’t be afraid to hold them accountable. Read More
by Grace Carr Several states are cutting taxes and putting money aside to protect themselves during future recessions as state economies continue to boom since President Donald Trump took office. Almost every U.S. state is experiencing a thriving economy; 48 states will meet or exceed revenue expectations, according to… Read More
Ohio Taxpayers could be stuck with a $1 billion nuclear cleanup bill if one national energy company has its way. The U.S Department of Justice, along with the “U.S. Environmental Protection Agency and the U.S. Nuclear Regulatory Commission, the Office of the Ohio Attorney General, acting on behalf of the… Read More
In a rare display of unity, members of the coal lobby joined with environmental advocacy leaders to raise concerns following Gov. John Kasich’s (R-OH) decision to raid the state’s coal mining reclamation fund. In 2017, the state of Ohio was facing a heavy tax shortfall as a result of decreased tax… Read More
by Troy Worden The president of Evergreen State College has apologized, more than a year after the fact, for the Washington state school’s use of taxpayer funds to bus students and educators to a workers’ rights protest at a family farm. KGMI, a news-talk radio station in Bellingham, Washington,… Read More