With so many bad policy proposals on the table, it’s hard to narrow down the most egregious, but as our team continues to read through the thousands of pages of legislative text coming out, we are finding more and more to oppose.
Here’s a look at a few of the currently pending proposals, amongst a host of others AMAC Action is currently pushing back against.
1. Snooping on your bank account information. The House Democrats’ pending legislation calls for a sweeping new bank reporting requirements, which will put millions of Americans’ information in the hands of the government. Democrats proposed requiring that banks report all transactions as low as $600 per account. Senate Republicans, with the full support of AMAC Action, recently sent a letter which urges Leader Schumer to drop the proposal completely. It reads in part: “…although the Biden administration has claimed that the new reporting proposal would not lead to increases in audit rates for those with incomes of under $400,000, it has not provided any plausible reason to believe that assertion. On the contrary, past experience indicates the brunt of costs imposed on taxpayers would fall on low and middle-income households and businesses with well below $400,000 in income, not “billionaires” and “tax cheats” as the administration’s political messaging suggests.” Read the full letter here: https://m.box.com/shared_item/https%3A%2F%2Fsenatorkevincramer.box.com%2Fs%2F6h18p5lul78jy0pd1ajjjmh4194hj4rr
2. A new double death tax on phantom capital gains. Currently, if you pass on a family business to the next generation, for tax purposes, the next generation receives what is called a “step-up in basis,” meaning the value of the property resets to market value upon its passing. For multigenerational family businesses that may have started in a garage, with one truck, with one plow, or otherwise with little “basis” and have grown significantly over the years, taxing unrealized gains at death can be a knock out punch. The value of many small businesses is tied up in land, equipment, inventory, and other illiquid assets. When Uncle Sam demands a double death tax on top of the current 40% estate tax, family businesses have no choice but to sell off land, fire workers, or sell off the businesses entirely. AMAC Action has joined over 154 other associations in calling for a repeal of the death tax and opposing capital due to gains at death. The agriculture community is also demanding the double death tax be nixed. It’s making an impact. Even moderate Democrats are now upset with their leadership about the job-killing proposal after hearing from their constituents, including AMAC Action members who hope to pass their businesses to the next generation of ownership. Top House Democratic tax-writer Rep. Neal (D-MA) recently told reporters that for now, he lacks the votes to move forward with the double death tax.
3. Subsidies and green energy tax credits, mostly for the wealthy. Electric vehicles may be the future, and that’s up for debate, but the market should decide that, not the government. The Democrats currently pending House bill gives away thousands in tax credits to the wealthy who can already afford to purchase expensive electric vehicles. Even electric bikes, curiously only if they are plugged into a government charging grid, not a personal charger, could now be subsidized by a $1000 tax credit. Is now really the right time for green new deal tax credits? Not at all. Congress should be focused on doing everything possible to help small businesses lead the country towards recovery and keep their workers employed. Instead, the House bill is full of tax breaks for the coastal elite while small businesses pay more.
4. New taxes of all kinds across the board. Besides the double death tax, the Democrats have proposed a laundry list of tax hikes that would hurt seniors and small businesses. Hikes in income tax rates, new taxes on tobacco products for millions that smoke or vape (once again breaking Biden’s campaign pledge not to raise taxes of those making under $400,000), higher taxes on businesses of all sizes, including Main Street family businesses and farms, and a pilot program to test the concept of a per-mile tax on driving, which could later be implemented fully. If you can imagine a bad idea, chances are Democrats are currently considering it. Biden and Pelosi’s far-reaching agenda is hitting major roadblocks, though, as the American people say no and Democrats scramble just to keep the government-funded.
5. Raising the debt limit. The debt limit fight is tangentially related to our efforts to sink the $3.5 trillion spending package being pushed by Speaker Pelosi in the House. Democrats hope to lure Republicans into voting to increase the debt limit at the same time when the Democratic Party controls all three branches of government. All of this while Democrats in Congress are trying to push through trillions in unneeded spending and tax hikes. Republican leadership’s message has been clear all along if you try to shove this package down the throats of the American people, don’t expect help on raising the debt limit to do so. A letter sent in early August says as much here: https://www.capito.senate.gov/imo/media/doc/08-10-2021%20DebtCeilingLetter.pdf Even still, the media is now working overtime to blame Republicans for an impending shutdown. We continue to remind our members and the media that this is a mess that the Democrats created on their own, and they should figure out how to address it before even thinking about pushing tax hikes of any kind on the American people. Republicans are right not to lend a hand in advancing these job-killing and economically destructive policies at a time when many small businesses are still struggling just to stay afloat.
Bob Carlstrom is President of AMAC Action
Well I guess if you want to keep the list short, this is as good a list as any to start with. However in all reality, there are roughly 34 or 35 major items within the current reconciliation bill being assembled by the Democrats in Congress that should scare the h*ll out of the American people. Then there are another 20 to 25 minor items that will just pick your pockets clean for good measure. The net result will be that we cease to be representative republic and become a socialist democracy in all but name only and life in America will change radically.
Yet the vast majority of Americans seem content to sit by and do nothing until the 2022 mid terms. By which time, if the reconciliation bill as currently written passes Congress and is enacted into law, your vote won’t matter anymore anyway due to the provisions within the bill to federalize elections.
ALL stink esp IRS probes into banking BUT then Dems should suffer 2
it all is nothing more than a pathway to Total Communism…
I STILL SAY that ALL the RED STATES should tell the Communist Blue States that IF THEY PASS THIS BILL that ALL THE RED STATES WILL BAND TOGETHER AND SECEDE FROM THE UNION and FORM A NEW AMERICA! . . . Just imagine how the Blue States would survive without the tax monies from the “better run” RED States
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Is this really America, or have I been in a Coma, and have woken up in a Foreign Country, people we lost America after 9-11 the morons that we have put into elected office have destroyed our freedoms and or way of life and those that they have appointed are even worse.
Our freedoms are more precious than gold, because once you lose your freedom, it is twice as hard to recover them, I have fought my whole life to keep my freedom and I am to damn old now to give up my freedom.
This bunch of slime-balls that are now suggesting snooping into the bank accounts of American citizens should be removed by whatever means available to us, this hair brain Janet Yellen, must be one of the worst public servants in my lifetime.
This Government believes that you should NOT have a life of your own, they want to know what Food you eat, the Car you drive, the Doctors you see, all the while telling you must share all you have with the freeloaders and those that invade your Country. I wake up each morning hopping that the good citizens of this Country will say we have had enough. but is the same old story, as has been said something to the effect, THE ONLY THING FOR TRIUMPH OF EVIL, IS FOR GOOD MEN (and WOMEN) DO NOTHING. when will we say NO! loud and clear.
God Save America!
Those who regard Biden as someone who will do things right…walk with blinders on..He has never done anything for the good of anyone other than himself..along with Nancy and Chuck..and don’t forget about 20 so-called Republican Senators who side with then and often do “flip/flops” to suit themselves. Now I realize why many people keep their hard- earned savings ‘in the mattress’ ..instead of a bank.
How were these worst five picked, drawing numbers from a bowl of everything they have envisioned over the decades?
This is like a ham sandwich, with bacon, chops, loin, chitlins, fatback, pigs feet,ears, tongue and every other conceivable swine part combined. Their next task will be to force feed it to the people….jam it down our throats, stuff it in our cheeks and say…..”chew”. When will our nation’s “gag reflex” kick in?
I don’t see much effective work on the part of the repubs as the swine steam roller careens down the hill (Capitol Hill). And the items chosen for this article are not the whole pig….we still have the “hagas” coming.
We have a bunch of mindless..or shall I say..stupid people in Congress who are out to make everyone but themselves poor. My late mother always told us not to purchase a purse that costs more than you can afford to put inside it. Shameful idiots !
“Favor us, Lord Jesus, and deliver us from evil. Lord, come quickly and help us. Glory to the Father and to the Son and to the Holy Spirit as it was in the beginning is now and will be forever. Amen.”
This is an evaporative process; I’ve only noted the most important one that affects every subsequent item.LIBERTY WILL EVAPORATE !!!!!I PRAY YOU’RE ALL STARTING TO UNDERSTAND THE GRAVITY OF WHAT THE LEFT IS AIMING AND WE MUST STAD TOGETHER AND STOP THEM
Guess they don’t realize that they will be hurting their own “people” (Dems). Will the “diehard” Democrats fight it? No, the ignorant will go along with anything. What a darn shame!!!!! In the long run, the Joey team will suffer too. Don’t forget the story of “It is easier for a camel to get thru the eye of the needle”. At least we can all hope for that.
You forgot the federal vehicle mileage tax also included in this “infrastructure” bill. In Nevada, we already have to write mileage on registration renewals although they haven’t passed a tax yet. Yet. But it’s coming. On top of inflation, I already pay 16% more for goods + service thanks to county taxes! Thanks Democrats! FU
Obiden is a liar like Pelosi, Schumer and the rest of the Washington bastards lied to American people. All the promises biden made to win the election were deception in every word. He’s a lieing basterd.
I have asked Bob Carlson AMAC ACTION to contact Lt. Col. Wendy Rogers, Senator AZ, for an interview of her continued actions across the nation in encouraging every state/legislature to request forensic audits and support voter integrity. We read what happened in the 2020 election but no action is taken even when proof is presented…only the media and press not acknowledging this proof and continuing to mock Trump’s claim of fraud.. .this gal has taken a lead in bringing about a proposed change to prevent this happening in ’22 and ’24 elections…we NEED TO SUPPORT HER AND CONTACT OUR STATE LEGISLATURE TO FOLLOW ELECTION LAWS!!!! I hope you have seen her interviews on OANN.
thank you for.fighting all 5 these and more their smoke mirrors They are trashing the constitution and the legal.people. NO TAXATION WITHOUT TRANSPARANCY AND REPRESENTATION. These 5 are clearly COMMUNISM/MARXISM snooping double taxing gross in NOT net, pressure banks into gustopo spies WRONG, everyone’s parents worked hare legally immigrated, and to have Dems steal inheritance Oust them term limits now. WRONG Tax and put small business out of biz WRONG (the backbone usa.) Global warming.a scam one world order European tax your utilities monitor.and.control invade privacy.. WHY are the Congress crooks