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A word on unsound tax policies

April 30, 2009
State Rep. Lance Horbach (R-Tama)

"What one person receives without working for, another person must work for without receiving." Abraham Lincoln

What an admirable phrase for describing "charity", the act of not receiving so others of lesser means may receive. The problem is that Abraham Lincoln's statement references the redistribution of wealth through taxation, not a charity.

The Iowa Legislature ran a "wealth redistribution" bill when Democrats authored the elimination of Iowa's Federal Deductibility. Claims of a middle-class tax break came to a screeching halt when Iowa's Revenue and Finance Department presented spread sheets showing the legislation would create more losers than winners beginning in 2011. Furthermore, in the out years, if you looked only at the people whose taxes would go up, 60% of the losers would come from households with incomes of $70,000 or less! Hey!!!! That's the heart of the middle class! In fact, that's the group of people that were kicked out of the Capitol for showing their frustration.

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This brings to mind another statement by Abraham Lincoln "You cannot multiply wealth by dividing it."

Later today we are voting on another tax issue, an Iowa Revenue & Finance request. Iowa Revenue & Finance told us that they are required to provide refunds to taxpayers within 60 days without an interest penalty. Due to staffing levels they said IRF couldn't accomplish this in 60 days. The proposed legislation would give them an additional 30 days to pay taxpayers. WHAT????? They want 30 more days (90 days total) to deliver your money? Would government give YOU an additional 30 days without penalty? No way!



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