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Beto O`Rourke on Tax Reform

Democratic candidate for President; Texas Senator nominee

 


Voted for oil tax; opposed 2017 tax legislation

He has derided business tax cuts and opposed the GOP tax overhaul of 2017. O'Rourke voted in favor of an oil tax in 2016 that would have taxed $10 on every barrel of crude oil.
Source: Axios.com "What you need to know about 2020" , Apr 29, 2019

Wealth tax would generate revenue for 'common benefit'

"Fundamental to this experiment to America and our democracy is ensuring we don't have princes and princesses, kings and queens, a concentration of wealth and power and privilege," the former U.S. Representative from Texas said at a campaign stop in Rock Hill, South Carolina. "That is exactly what we have in this country right now." A wealth tax would generate revenue for "our common benefit," such as infrastructure projects and health care, he said.
Source: Bloomberg News, "Wealth Tax," on 2020 Democratic primary , Mar 22, 2019

Everyone should sacrifice, with higher top marginal tax rate

He also believes in a version of Alexandria Ocasio-Cortez's call for a higher top marginal tax rate, though he doesn't volunteer the 70 percent number, and he makes a different sort of argument. "If you're trying to mobilize this country to meet an existential threat, as we did against the Nazis in World War II, then you're going to have to ask everyone to sacrifice," he says. "If you don't see a shared interest or shared opportunity to advance, then we'll no longer see ourselves in this together and this country will truly break apart. This level of gross income inequality cannot persist, and if there's a better way to get there, I'm open to it. But it's definitely going to involve higher marginal rates on the very wealthiest in this country."
Source: Joe Hagan in Vanity Fair on 2020 Democratic primary , Mar 13, 2019

GOP tax plan helps rich & hurts middle class

H.R. 1 bets on trickle-down economics working when we know it doesn't. We know that providing billions of dollars in tax breaks to corporations and the richest Americans won't magically help middle class families. Rather, the exact opposite occurs. While nearly 50% of the cuts?--?over $500 billion?--?flows to the top 1%, this tax bill would cause 36 million households in the middle class to see their taxes rise. The rich get richer while the middle class pays up.
Source: Medium.com on 2018 Texas Senate race , Nov 16, 2017

Raising estate tax to 1990s level means $448B in new revenue.

O`Rourke voted NAY Death Tax Repeal Act

Heritage Action Summary: This bill would repeal the estate and generation-skipping transfer taxes, as well as cut the top gift tax rate.

Heritage Foundation recommendation to vote YES: (4/16/2015): Collectively, these measures repeal the pernicious double tax known as the "death tax," and result in a tax cut of $269 billion over 10 years. The death tax hurts economic growth and therefore limits the ability of Americans to prosper. Repealing the death tax would generate an average of 18,000 jobs annually and increase the overall net worth of American households by $300 billion a year. The federal government should encourage, not punish, Americans who work and pay taxes their whole lives, save enough to support themselves through retirement, and retain the ability to fulfill the American Dream by passing along a better life to their children.

Secretary of Labor Robert Reich recommendation to vote YES: (robertreich.org 6/4/2015): At a time of historic economic inequality, it should be a no-brainer to raise a tax on inherited wealth for the very rich. Yet there's a move among some members of Congress to abolish it altogether. Today the estate tax reaches only the richest 2/10 of 1%, and applies only to dollars in excess of $10.86 million for married couples or $5.43 million for individuals. That means if a couple leaves to their heirs $10,860,001, they now pay the estate tax on $1. The current estate tax rate is 40%, so that would be 40 cents. Yet according to these members of Congress, that's still too much. Our democracy's Founding Fathers did not want a privileged aristocracy. Yet that's the direction we're going in. The tax on inherited wealth is one of the major bulwarks against it. That tax should be increased and strengthened.

Legislative outcome: Passed by the House 240-179-12; never came to vote in Senate.

Source: Supreme Court case 15-H1105 argued on Apr 16, 2015

CC:Reverse federal income tax cuts.

O`Rourke opposes the CC survey question on keeping tax cuts

The Christian Coalition Voter Guide inferred whether candidates agree or disagree with the statement, 'Make federal income tax cuts permanent' Christian Coalition's self-description: "Christian Voter Guide is a clearing-house for traditional, pro-family voter guides. We do not create voter guides, nor do we interview or endorse candidates."

Source: Christian Coalition Surve 18CC-11a on Jul 1, 2018

CC:Keep the inhertiance tax.

O`Rourke opposes the CC survey question on eliminating Death Tax

The Christian Coalition Voter Guide inferred whether candidates agree or disagree with the statement, 'Permanent Elimination of the "Death Tax"' Christian Coalition's self-description: "Christian Voter Guide is a clearing-house for traditional, pro-family voter guides. We do not create voter guides, nor do we interview or endorse candidates."

Source: Christian Coalition Surve 18CC-11b on Jul 1, 2018

Other candidates on Tax Reform: Beto O`Rourke on other issues:
2020 Presidential Democratic Primary Candidates:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Mayor Bill de Blasio (D-NYC)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Larry Hogan (D-MD)
Gov.Jay Inslee (D-WA)
Sen.Amy Klobuchar (D-MN)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Sen.Bernie Sanders (I-VT)
Rep.Eric Swalwell (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 GOP and Independent Candidates:
Rep.Justin Amash (Libertarian-MI)
Howie Hawkins (Green-NY)
Gov.John Kasich (R-OH)
V.P.Mike Pence (R-IN)
CEO Howard Schultz (I-WA)
Pres.Donald Trump (R-NY)
Gov.Jesse Ventura (I-MN)
V.C.Arvin Vohra (Libertarian-MD)
Gov.Bill Weld (R-MA&L-NY)

2020 Withdrawn Candidates:
State Rep.Stacey Abrams (D-GA)
Mayor Mike Bloomberg (I-NYC)
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Page last updated: Jun 03, 2019