Yahoo News: on Tax Reform


John Hickenlooper: Higher taxes on the wealthy; lower taxes on working families

Like most of his fellow Democrats, former Gov. John Hickenlooper would push for higher taxes on wealthy Americans and lower taxes on working families. For instance, he's open to raising the top individual income tax rate--which is currently set at 37%--but he has not said how high the top rate should go. (As one of the more moderate candidates in the race, he probably wouldn't back rates as high as other candidates have suggested.) He also supports expanding the earned income tax credit by doubling the credit for households with children, raising the maximum benefit for families that don't have children living at home, reducing the minimum qualifying age for taxpayers without children in their home from 25 to 21 and increasing the credit's income limit.

He supports a carbon tax where to proceeds are passed back to citizens to help pay for increased energy costs.

Source: Rocky Mengle, finance.yahoo.com, on 2019 Democratic primary Aug 12, 2019

John Hickenlooper: Mom-and-pop tax credit for five or fewer full-time employees

The former governor of Colorado is also pushing a few tax breaks designed to help rural communities. First, there's a new "mom and pop" tax credit for the owners of businesses with five or fewer full-time employees and annual revenues of less than $10 million. These owners would be allowed up to $50,000 in lifetime credits for new business investments or employment. Second, the governor is calling for a new Entrepreneurial Opportunity Zone Program, which would provide tax deductions for both new businesses and workers at new businesses in rural and distressed areas. The deductions would be available for five years. Finally, his plan to help rural America includes increased funding for the federal historic tax credit to boost investment in the renovation of historic buildings.
Source: Rocky Mengle, finance.yahoo.com, on 2019 Democratic primary Aug 12, 2019

Pete Buttigieg: Financial transactions tax, wealth tax, and estate tax

Mayor Pete Buttigieg has criticized the 2017 tax reform bill signed by President Trump, saying it just provided tax cuts for the wealthy--again, nothing new when it comes to the 2020 Democratic presidential candidates. However, the mayor has hinted at a few tax increases that he would consider as president, including: He has also called for a "more equitable use of the estate tax," which could possibly mean lowering the exemption amount back down to pre-2010 levels.
Source: Rocky Mengle, finance.yahoo.com, on 2019 Democratic primary Aug 12, 2019

Tulsi Gabbard: Tax incentives for social goals

As a presidential candidate, Rep. Tulsi Gabbard hasn't talked all that much about taxes. She has repeated the standard Democratic line about the 2017 tax reform law overwhelmingly benefiting wealthier Americans, and she generally supports more taxes to pay for new social programs, but tax policy certainly doesn't seem to be at the center of her campaign.
Source: Rocky Mengle, finance.yahoo.com, on 2019 Democratic primary Aug 12, 2019

  • The above quotations are from Yahoo News.
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2016 Presidential contenders on Tax Reform:
  Republicans:
Gov.Jeb Bush(FL)
Dr.Ben Carson(MD)
Gov.Chris Christie(NJ)
Sen.Ted Cruz(TX)
Carly Fiorina(CA)
Gov.Jim Gilmore(VA)
Sen.Lindsey Graham(SC)
Gov.Mike Huckabee(AR)
Gov.Bobby Jindal(LA)
Gov.John Kasich(OH)
Gov.Sarah Palin(AK)
Gov.George Pataki(NY)
Sen.Rand Paul(KY)
Gov.Rick Perry(TX)
Sen.Rob Portman(OH)
Sen.Marco Rubio(FL)
Sen.Rick Santorum(PA)
Donald Trump(NY)
Gov.Scott Walker(WI) 		Democrats:
Gov.Lincoln Chafee(RI)
Secy.Hillary Clinton(NY)
V.P.Joe Biden(DE)
Gov.Martin O`Malley(MD)
Sen.Bernie Sanders(VT)
Sen.Elizabeth Warren(MA)
Sen.Jim Webb(VA)

2016 Third Party Candidates:
Gov.Gary Johnson(L-NM)
Roseanne Barr(PF-HI)
Robert Steele(L-NY)
Dr.Jill Stein(G,MA)
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