Tag Archives: penalize

Senator Chuck Schumer on Olympic Medal Winners: It’s “Unfair to Tax” Those Who “Work Hard Year-Round”

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I originally posted the following information and commentary onto my Facebook wall…

Senator Chuck Schumer (D-NY)

Senator Chuck Schumer (D-NY)

Priceless: Schumer Says Waive Tax on Olympians Because “Hard Work” Shouldn’t be Punished:
http://hotair.com/archives/2016/08/08/priceless-schumer-says-waive-tax-on-olympians-because-hard-work-shouldnt-be-punished/

(Larry O’Connor) Without the teeniest sense of irony, Sen. Chuck Schumer (D-NY) has proposed that America’s Olympic medal winners should not have to pay taxes on the cash prizes they are awarded with their medals.

Schumer’s reasoning behind lifting the tax? Because “hard work” and excellence shouldn’t be punished

(Read entire article here…)

My Commentary: Think about the Truth of Schumer’s words…

Statism: Penalizing Marriage While Incentivizing “Shacking Up”

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I originally posted the following information and commentary onto my Facebook wall…

2016-08-04-statism-penalizing-marriage-while-incentivizing-shacking-up

IRS Increases “Marriage Penalty,” Unmarried Cohabitants To Get Twice The Mortgage Interest Deduction:
http://www.forbes.com/sites/anthonynitti/2016/08/01/irs-increases-marriage-penalty-unmarried-cohabitants-to-get-twice-the-mortgage-interest-deduction/

(Tony Nitti) There are a thousand good reasons to never get married: in-laws, divorce attorneys, and the inevitable ravages of age on one’s attractiveness come immediately to mind.

But there are also significant tax hits that come with getting hitched, or as they’ve collectively been coined, the “marriage penalty.” For example, the 28% tax bracket kicks in at $91,150 of income if you’re single, but at only $151,900 — an amount basic math tells you is less than double $91,150 — for married taxpayers. In addition, single taxpayers start to lose 3% of itemized deductions when adjusted gross income exceeds $258,250; married taxpayers, however, will lose itemized deductions once adjusted gross income exceeds only $309,900.

(Read entire article here…)

My Commentary: Statism: penalizing marriage while incentivizing “shacking up.”