AF believes the economic and tax polices of all levels of government in the US should be focused on increasing the income, economic security and well-being of US citizens and their families. Sadly, our government has lost sight of that goal. Instead of helping individual US citizens, we hear talk of helping the “economy”, “business” or other abstract goals of “growth”, while little is said of the hard-working middle to lower income US citizens who have seen their wages declines or jobs disappear over the last 30 years.
AF is educating the public about how US tax and economic policy have increasingly favored capital over labor, big business over sole proprietors and small business, and multinational businesses over locally owned businesses. It is time for that to not only stop, but be reversed.
To that end AF advocates policies that focus on helping living, breathing US citizens and their families, such as:
• Reducing taxes on income from wages and salaries so that income people earn from work and investments are taxed at the same progressive rates – no more preferences on income from capital gains or passive investment income.
• Increasing taxes on foreign corporations operating in the US and making sure US-based corporations pay their fair share of taxes by preventing use of offshore tax shelters;
• Providing an income tax exemption or credit only for US citizens to help support a family and encourage family formation by US citizens;
• Limiting certain government assistance programs to US citizens;
• After labor markets have improved so that US citizens have jobs, auctioning off a highly restricted number of US visas with the proceeds earmarked for scholarships and assistance to US citizens and their families;
• AF opposes any form of the FAIR tax or a national sales tax that hits working Americans hardest. AF is for a reduction in sales taxes on the basic necessities of life for US citizens.
Does Government Have a Revenue or Spending Problem?
Prof. Antony Davies, Duquesne University
Capital Wins, Labor Loses
Paul Solman, PBS News Hour, December 26, 2012
The last couple of decades have not been as kind to those who work for companies as to those who own them. This interview sheds some light on why.
Taxing Capital Gains As Ordinary Income
David Drumm, August 28, 2011
Capital Gains vs. Ordinary Income
Uwe E. Reinhardt, New York Times, March 16, 2012
The author questions the rationale for the current tax advantage given to capital gains versus income from employment.
Do Private Equity Firms Owe Ordinary Income Tax Under Today’s Law?
Howard Gleckman, Forbes, June 26, 2013
The author discusses the special tax treatment given to the owners of these firms.
Why the IRS Should Tax Equity Fund Profits as Ordinary Income
Business profits should be taxed as ordinary income, Rosenthal writes, and private equity funds are the same as other businesses, in that they deploy capital, labor, and other inputs to make their profits.
Steven Rosenthal, Christian Science Monitor, February 4, 2013
Immigrant Gains and Native Losses In the Job Market, 2000 to 2013
Steven A. Camarota, Karen Zeigler, Center for Immigration Studies, July 2013
While jobs are always being created and lost, and the number of workers rises and falls with the economy, a new analysis of government data shows that all of the net gain in employment over the last 13 years has gone to immigrants (legal and illegal).