Nancy L. Gatchel's Posts - Fair Tax Nation2024-03-29T08:49:20ZNancy L. Gatchelhttp://www.fairtaxnation.com/profile/NancyLGatchelhttp://storage.ning.com/topology/rest/1.0/file/get/365015771?profile=RESIZE_48X48&width=48&height=48&crop=1%3A1http://www.fairtaxnation.com/profiles/blog/feed?user=2bpu8uuvd19x6&xn_auth=noCan anyone make heads or tails of this?tag:www.fairtaxnation.com,2009-06-24:2636007:BlogPost:653382009-06-24T01:36:33.000ZNancy L. Gatchelhttp://www.fairtaxnation.com/profile/NancyLGatchel
JOINT COMMITTEE ON TAXATION<br />
March 30, 2009<br />
JCX-22-09<br />
(millions of dollars)<br />
Provision Effective 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2010-14 2010-19<br />
I. Index to Inflation the 2009 Parameters of the<br />
AMT as Enacted in the American Recovery and<br />
Reinvestment Act…………………………………… tyba 12/31/09 -6,678 -68,963 -30,581 -33,927 -37,236 -41,211 -46,161 -52,484 -60,393 -69,574 -177,385 -447,209<br />
II. Make Permanent Certain Tax Cuts Enacted in<br />
ESTIMATED BUDGET EFFECTS OF THE REVENUE PROVISIONS…
JOINT COMMITTEE ON TAXATION<br />
March 30, 2009<br />
JCX-22-09<br />
(millions of dollars)<br />
Provision Effective 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2010-14 2010-19<br />
I. Index to Inflation the 2009 Parameters of the<br />
AMT as Enacted in the American Recovery and<br />
Reinvestment Act…………………………………… tyba 12/31/09 -6,678 -68,963 -30,581 -33,927 -37,236 -41,211 -46,161 -52,484 -60,393 -69,574 -177,385 -447,209<br />
II. Make Permanent Certain Tax Cuts Enacted in<br />
ESTIMATED BUDGET EFFECTS OF THE REVENUE PROVISIONS CONTAINED IN<br />
THE PRESIDENT'S FISCAL YEAR 2010 BUDGET PROPOSAL [1]<br />
Fiscal Years 2010 - 2019<br />
[Millions of Dollars]<br />
2001 and 2003:<br />
A. Permanently Extend Capital Gains and Dividends<br />
0%/15% Rates; Add a 20% Rate for Taxpayers<br />
Otherwise in the 36% and 39.6% Brackets......... tyba 12/31/10 -167 -4,867 -20,399 -24,798 -26,573 -27,886 -28,950 -29,782 -30,685 -31,555 -76,804 -225,662<br />
B. Permanently Increase the Maximum Amount<br />
and Phaseout Threshold Under Section 179<br />
that are Scheduled to Expire After 2010............. tyba 12/31/10 --- -2,428 -4,439 -3,707 -3,043 -2,325 -1,665 -1,212 -965 -874 -13,618 -20,661<br />
C. Reductions in Individual Income Tax Rates [2]<br />
1. Retain 10% bracket........................................ tyba 12/31/10 --- -40,376 -59,413 -61,775 -63,885 -65,913 -68,056 -70,531 -73,024 -75,607 -225,448 -578,580<br />
2. Retain the 25%, 28%, and part of the 33%<br />
income tax rate brackets................................. tyba 12/31/10 --- -27,475 -40,840 -43,379 -46,252 -49,205 -52,064 -54,894 -57,646 -60,538 -157,947 -432,295<br />
D. Child Tax Credit Extend $1,000 Credit,<br />
Refundability, and AMT rules [2]....................... tyba 12/31/10 --- -5,804 -29,077 -29,342 -29,547 -29,677 -29,772 -29,885 -29,938 -30,095 -93,770 -243,137<br />
E. Marriage Penalty Relief [2]................................. tyba 12/31/10 --- -18,189 -31,233 -32,803 -34,281 -35,551 -36,814 -38,159 -39,460 -41,016 -116,506 -307,507<br />
F. Education Incentives [3]...................................... generally 1/1/11 --- -793 -1,596 -1,676 -1,728 -1,818 -1,913 -2,021 -2,183 -2,287 -5,792 -16,014<br />
G. Make Permanent the Estate, Gift, and<br />
Generation-Skipping Transfer Taxes; Extend<br />
2009 Law and Index Estate Tax Exemption<br />
for Inflation; Gift Tax Lifetime Exclusion to<br />
Remain at $1 Million........................................... dda 12/31/09 384 -1,993 -19,586 -23,496 -27,342 -30,901 -33,756 -37,176 -39,633 -42,745 -72,032 -256,244<br />
H. Other Incentives for Families and Children [2]<br />
[4]........................................................................ tyba 12/31/10 --- -214 -797 -857 -884 -906 -924 -947 -969 -963 -2,752 -7,461Scorching letter to Senator Sherrod Browntag:www.fairtaxnation.com,2009-06-22:2636007:BlogPost:651012009-06-22T17:47:36.000ZNancy L. Gatchelhttp://www.fairtaxnation.com/profile/NancyLGatchel
Dear Senator,<br />
<br />
I have sent the following link to an article written by economist professor Lawrence Kotlikoff of Boston University. It is my hope that you will read this document and research it thoroughly before you accept FactCheck.org's information as the end all be all on the issue of the Fair Tax Plan, HR 25 / S 296. I would expect nothing less than a thoughtful and meaningful analysis of the Fair Tax on your end and the FactCheck information is woefully…
Dear Senator,<br />
<br />
I have sent the following link to an article written by economist professor Lawrence Kotlikoff of Boston University. It is my hope that you will read this document and research it thoroughly before you accept FactCheck.org's information as the end all be all on the issue of the Fair Tax Plan, HR 25 / S 296. I would expect nothing less than a thoughtful and meaningful analysis of the Fair Tax on your end and the FactCheck information is woefully inadequate.<br />
<br />
http://people.bu.edu/kotlikoff/New%20Kotlikoff%20Web%20Page/Revised%20Kotlikoff%20on%20Barlett%201-15-08.pdf<br />
<br />
I find it deplorable that I am more familiar with this bill than yourself. There is only one conclusion that I can draw from your position regarding this urgent bill: you must favor lobbyists over the welfare of the nation as a whole. The general public understands the nature of the relationship between lobbyists and our elected officials, and frankly, we are appalled. I suggest you seriously consider being a servant to the people rather than a servant to the K Street folks.<br />
<br />
As support of the Fair Tax is growing exponentially across this nation, it behooves our legislators to research and study this issue carefully.<br />
<br />
Ask yourself why NCR has made its home in OH for 125 yrs. and is now forced to move? Ask yourself why they've chosen to make GA their home?<br />
<br />
It appears that our legislators are so busy finding ways to spend precious tax dollars that they don't seem to have the time to actually think about increasing revenue by broadening the tax base. The tax base dwindles and the government spends more. They (you) want to spend more taxes chasing after trillions in offshore accounts rather than rolling out the welcome mat for those trillions to come home which costs nothing. Rather than welcome business back into the country, you want to penalize those corporations that were flushed out of the states thanks to our present tax code.<br />
<br />
It's time for meaningful analysis of the Fair Tax Plan, Senator Brown. Main St., USA has no interest in supporting the 34,000+ on K Street, Washington, DC.<br />
<br />
Nancy Gatchel