President Barack Obama and his Democratic Party would have liked to increase taxes as part of a “balanced” approach to deficit reduction. Republicans, adamantly opposed to raising taxes, especially during a time of fragile economic recovery, managed to prevent immediate tax hikes although revenue enhancement could be part of a broader plan that is supposed to be worked out by a bipartisan congressional committee later | Read More »
The United States, like most nations in the developed world, maintain a progressive federal income tax system, meaning people not only pay a given percentage of their income in taxes but that percentage increases for high income earners, from 10 percent for individuals making a little more than $8,000 a year to 35 percent on incomes over $370,000. As a result, in 2008, the top | Read More »
What is the purpose of government? The public debate in America has once again turned to this all important question and for the first time in a long time, the country elected legislators last fall who adhere to a radically different view about the role of government than is the consensus. Most politicians—and voters—left and right agree that government should not only provide basic security | Read More »
As Republicans will vote to repeal ObamaCare in the House of Representatives this week, Democrats are condemning the measure as fiscally irresponsible. Repealing their health care reform bill, liberals say, would add some $230 billion to the federal deficit over the next decade. The numbers come from the Congressional Budget Office and while some Republicans dispute them, I don’t really care. For a decent and | Read More »
Mere weeks ahead of the congressional midterms elections in November, many Americans are no longer able to “think clearly” because of the economic malaise they are suffering. According to President Barack Obama the burden is on Democrats “to break through the fear and the frustration people are feeling.” “Part of the reason that our politics seems so tough right now and facts and science and | Read More »
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