Freedom Line Blog

Fresh off his Super Bowl win, Baltimore Ravens quarterback Joe Flacco signed a contract extension worth $120.6 million, making him the highest paid player in the National Football League.

But as Americans for Tax Reform points out, that’s just on paper.  After state and local taxes are factored in, Flacco actually makes less take home pay than the New Orleans Saints’ Drew Brees.

Reason TV ran a similar commentary when NBA star LeBron James left his hometown Cleveland Cavaliers to play for the Miami Heat.  Because Florida doesn’t have an income tax, some tax experts predicted that James could have a higher net income playing for the Heat even if the value of his contract was less than what he could make as a Cavalier.

While there’s no indication that professional athletes are making contract decisions based solely on a team’s state and local tax rates, it would certainly make sense in the long run.

After all, according to ATR’s analysis, after taxes Brees is projected to make $470,000 more every year than Flacco.  At $470,000 a year, that’s $2.82 million in extra taxes over the course of Flacco’s new contract.

With that kind of contribution to the city and state, Ravens fans should count any Super Bowl repeat as icing on the cake.

Our friends at Americans for Tax Reform compiled this helpful list of the 21 new or higher taxes President Barack Obama has signed into law since being sworn into office.  Of these, 20 come from ObamaCare.

Remember, try to laugh while you cry.

Cost of Government Day, as calculated by Americans for Tax Reform, falls tomorrow, Friday August 12. “This is the day on which the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state, and local levels.”

This is “a full 27 days longer than 2008.” What’s worse is that further costs, via regulation alone, are built into the system for future years via regulatory burdens imposed by the Dodd-Frank financial bill and by Obamacare. Again, read the summary here. EPA regs also are in the offing, and of course the regulatory behemoth continues via the NLRB, the CPSC, the FDA, and others.

The Obama administration is filled with officious zealots who like to tell other people how to live. The result makes all of our wallets lighter, and erodes our freedom.

You know a candidate is a serious contender when the opposition starts blasting away.  The problem for the Democratic Congressional Campaign Committee (DCCC) is that Republican Charles Djou is about as squeaky clean as congressional candidates come.  The recent subject of a CFIF profile, Djou is running hard on a platform of low taxes and economic growth, even signing the Americans for Tax Reform pledge.  Of course, to the DCCC’s ears, that sounds like backhanding the economic little guy.

Since Hawaii’s economy relies heavily on tourist dollars, it isn’t likely that Aloha State voters will buy what national Democrats are selling, even if House leadership decides to back one of the two contenders challenging Djou in the open special election on May 22^nd.

Sometimes, voters just prefer good, honest, straightforward candidates.

Here’s a great video from our friends at Americans for Tax Reform: