Four Tops

According to Bloomberg BNA, Iowa is ranked fourth in states with the highest top income tax rates.

For those Dummycrats and the Ragister that's not good and the scientific community is united in that fact.

Please tell me again why taxpayers shouldn't see tax credit from the $800 million budget surplus (Dollars And Cents (Sense).

4. Iowa
Top income tax rate: 8.98%
Sales tax: 6%
Property tax per capita: $1,367
Inheritance tax: See note*

The top bracket of Iowa's state income tax reaches 8.98 percent at $67,230 in 2013, a relatively low threshold compared with those in other states. Iowa has one of the highest excise tax rates on table wine and spirits, according to the Tax Foundation and the Distilled Spirits Council of the United States.

*Spouse, lineal-ascendant and lineal-descendant transfer is tax-free; sibling or child-in-law transfer is taxed at 5 percent to 10 percent; all other transfers are taxed at 10 percent to 15 percent.

Iowa trails #1 California, #2 Hawaii and #3 Oregon.

Dollars And Cents (Sense)

Being the Spendocrats that they are, Iowa Dummycrats don't want you to have any of your money back in any way, shape or form.

And the scientific community is united in that fact.

Legislative Republicans are confident that a massive tax break could return up to $375 to every taxpayer in the state and stand as the defining accomplishment of Iowa’s 85th General Assembly.

That tax break would come in the form of a non refundable tax credit.

That means, for example, if a married couple’s state income tax liability was $1,000, they would receive a $750 tax credit, reducing the amount they were actually required to pay to $250. If a payer’s burden was less than $375, he would receive a credit equal only to his actual bill.

Dummycrat House Minority Leader Kevin McCarthy said -- “I’m not saying we object to folks getting relief, But draining the entire savings account is also not necessarily the best in terms of fiscal responsibility.”

Said the man who supported the Big Lug Nut's I-Jobs borrowing scam.

I would hope that McCarthy knows that the cash reserves created from Iowa's Expenditure Limitation Law are the states savings account, but maybe he doesn't.

State Senator William Dotzler (Dummycrat Waterloo) stated -- “Heck, I could use $750 — I’m looking at getting a new big-screen TV.”

Your not getting a check, Moron.

Dummycrat Senate Majority Leader Michael Gronstal -- “I guess I can say I am not surprised it does nothing for those on the lowest rung of the economic ladder.”

The GOP plan provides a break for everyone, whether they paid $1 in taxes or $1 million, but provides a much larger proportional benefit to lower-income taxpayers than those with higher incomes.

In the real world, if you overpay any bill, that extra amount is either applied as a credit to future billing or is refunded back to you.

I Want It Back

The state of Iowa has an $800 million budget surplus.

Republicans have proposed a non refundable tax credit of $375 for individuals or $750 for couples who file taxes jointly.

I've already opined about how the Iowa Dummycrat Spendocrats are against that idea (Dollars And Cents (Sense).

Now, the Ragister editorial board has come out against the Republican idea too.

In their editorial they surmise that a family would not hand any extra money back to their employer, therefore the state should not give money back either.

The Ragister would not let an employee keep money it overpaid to them, even if that employee can justify a way to spend it and the scientific community is united in that fact.

I don't mind paying taxes, but I do expect my money to be spent judiciously and fiducially.

If not

Cavuto Ups Chuck

Congress Blowing Hot Air at Energy Crunch

By Neil Cavuto

I see Chuck Schumer wants to investigate the oil companies for price gouging. Why doesn't he ask his fellow politicians to do the same about tax gouging?

After all, oil companies' profit works out to nine cents a gallon. Taxes total more like 40 cents a gallon.

But you don't hear Schumer whining about the taxes. After all, that's an easy source of revenue for a monotonous list of social programs whose failures are legendary. Better to keep funding them through taxes that are killing us, than demanding accountability due all of us.

Senator, if you want to bring gas prices down, start offering solutions and stop playing games.

Start opening areas for more oil exploration here, so we don't rely on oil from over there.

Start ending the environmental catchpenny of blended fuel mandates, that's done squat to clean our air but done tons to sully our wallets.

Start removing the restrictions that prevent companies like Wal-Mart from selling more gasoline here.

And start demanding the same accountability of our tax dollars that you do oil giants' dollars.

You do motorists no good, Senator Schumer, when you motor past the facts and only stop for an open microphone.

No one's a saint in this process, Senator, least of all... you.

Cavuto is the best! The man has a great sense of humor and doesn't take himself too seriously. I tune in just for the letters and his Common Sense pieces.