From Rand Paul's newsletter... lots to unwind here (the comment about corporate tax rates is GOLD)...
You can view my latest update below!
Next week, Dr. Anthony Fauci will join the Senate Health, Education, Labor, and Pensions (HELP) Committee for a hearing on COVID-19. This will be Dr. Fauci’s first testimony in front of the HELP Committee since
June 20, 2021, where he repeatedly lied to Congress. On Thursday, I will continue to hold Dr. Fauci accountable for his lies. The hearing will take place Thursday, November 4, at 10 a.m. ET. Check
CSPAN.org to watch.
Dr. Rand Paul Introduces the Tax-Free Education Act to Help Americans Pay For School and Pay Off their Student Loan Debt
Financing education is already hard enough, and Uncle Sam doesn’t need a cut. That’s why, on Thursday, I introduced the Tax-Free Education Act to provide a 100 percent tax deduction to anyone who pays for college or K-12 tuition and associated expenses.
This legislation is a pro-taxpayer plan to help Americans more quickly and easily pay for school and pay off their student loan debt.
My plan allows people to pay for college with pre-tax dollars and would be available to anyone who is helping pay for college – grandparents, aunts and uncles, and family friends. This empowers the American people to pay off school debt and realize the dreams they studied hard to achieve.
You can read the Tax-Free Education Act,
HERE.
Dr. Rand Paul Hosts Tele-Town Hall Event to Address the Important Issues Facing Kentuckians
On Tuesday, I held a telephone townhall event, where I took live questions from Kentuckians on the issues most important to them.
Some of the issues we discussed included rising inflation rates and the nation's supply chain crisis. Now more than ever, Americans are waking up to the profound repercussions of excessive spending and rising inflation.
We currently have a $28 trillion deficit, and $3.1 trillion of that has been from just this past year. It will only continue to grow if the Democrats in Congress continue to give ‘free’ handouts and push massive spending bills to appease their liberal wish list.
Kentuckians all across the Commonwealth are beginning to see a rise in gas prices, grocery prices, and pretty much anything they can buy. This isn’t transitory because of the COVID-19 pandemic, this is the repercussions of excessive spending and worker shortages.
Don’t let the Democrats fool you, nothing is free and ultimately you will pay the price through higher taxes and inflation.
We also discussed Dr. Fauci’s reprehensible actions towards animals as he continues unnecessary “scientific” research that contributes to the suffering of animals.
This week, it was revealed that Dr. Fauci’s division of the National Institute of Health (NIH) wasted over $420,000 on
deadly and unnecessary experiments on beagles.
Experiments like Dr. Fauci’s are part of the reason I recently introduced my
FDA Modernization Act to end animal testing mandates.
My bill offers humane alternatives to barbaric experiments on beagles, like those funded by Dr. Fauci with your tax dollars. While I can assure you
#PaulsPups are safe, we need to make sure the government doesn’t force companies to torture man’s best friend.
I always enjoy the opportunity to answer your questions.
If you would like to be notified of the next telephone townhall event, you can sign up on my website,
HERE.
Thanks to all who participated!
Dr. Rand Paul Pens Op-Ed on the Democrats’ Reckless Tax Hikes on Americans
Recently, I penned an op-ed on the Democrats’ reckless tax hikes that would hurt all Americans.
As I wrote in my op-ed, a few weeks ago in the House Ways and Means Committee, Democrats passed a sweeping tax hike to be included in their $3.5 trillion reckless tax and spending spree. Their solution, to pay for their liberal wish list and big government socialism – tax businesses and corporations, and the rich, “who aren’t paying their fair share”.
Specifically, it includes an increase of the corporate tax rate from 21 percent to 26.5 percent, which is higher than communist China’s 25 percent. It calls for a hike in the top income tax rate from 37 percent to 39.7 percent. They also propose a change to the death tax and plan to raise the capital gains tax rate from 20 percent to 25 percent.
The Democrats will frame this proposal as a win for the lower and middle class, and suggest it’s only a tax increase for the rich and big corporations. But the reality is that this tax increase will unequivocally impact every American, if not today, then tomorrow.
How? Well, it’s pretty simple.
Raising taxes on corporations and businesses will only cause companies to create a way to cover this new cost. This can be done by cutting departments, lowering wages, not hiring workers, and raising product prices.
For example, in my home state of Kentucky,
corporate tax hikes tend to drive utility rates up, while corporate tax cuts drive utility rates down. In 2017, when the corporate tax rate was cut from 35 percent to 21 percent, electric, gas, and water companies all across Kentucky saw savings. These savings not only helped the companies, but also the customers who saw rate reductions or bill credits.
All Americans will see the repercussions of increased taxes, and you’d be crazy to think these corporations and businesses will just absorb the extra costs. The extra costs will be covered by consumers who will be paying an increased electric, water, or gas bill.
Don’t let them fool you. On the surface level this plan targets big businesses and corporations, and the rich, but in economic reality it’s also targeting working Americans, small business owners, and prices for all at stores.
A tax increase for one, is a tax increase for all.
You can read my full op-ed,
HERE.