Obama claims that his tax plan would only increase the tax burden on those earning more than $200,000. What the Democrats, the media, and even Republicans fail to mention is that there is another aspect of the fiscal cliff that will hit everyone. A number of Obamacare’s tax increases are scheduled to take effect in January. These tax increases will be severely regressive to those | Read More »
They told me that if I voted for Mitt Romney, that corporations with ties to the President would offshore billions of dollars to avoid paying taxes! Did Obama and Schmidt even feel guilty as Obama said one thing, while working with Google who was doing the opposite?
Because remember: as I’ve been saying all along, The global Internet regulations the ITU is threatening is in the spirit of the Obama- and Schmidt-backed Internet regulations we’ve seen the last four years!
And let’s be clear: the Obama administration isn’t done regulating now that the second term is coming.
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It’s not like we haven’t been through this recently. In fact, we’ve seen this rodeo less than 18 months ago. When will Republicans learn their lesson? Republicans came to power in 2011 promising to put a stop to Obama’s addiction to spending and growing government. They pledged to cut $100 billion immediately. They had a number of opportunities to leverage their control over the budget | Read More »
Here are two things to keep in mind with regards to Boehner’s budget offer. First, when you begin negotiations agreeing to 60% of the demands of the other side and fail to offer a bold contrast on the other 40%, you are headed for an outcome that is 80-90% favorable to your opponent. Second, when you need to outsource your budget plan and entire view | Read More »
Events get driven by something. The motive power behind what happens in policy and politics can often lie hidden like the mass of an iceberg underneath the sea. Those who bother wondering why President Obama refuses to compromise on anything in order to avoid the “Fiscal Cliff” theorize two primary things. Barack Obama plays the PR angle to make Rethuglicans appear as the political subsumed class* of lackeys to the E-Vil Rich. Others assume he’s Richard Roundtree** and he’s sticking it to the man.
Both of these conjectures see only the tip of the iceberg. There are two possible errors in assuming either explains our President’s behavior in total. The first mistake is to assume that Barack Obama completely drives this train. The second is to assume that he reacts totally based on his ideological battles against Conservatism. Assuming a bond fealty between Barack Obama and his committed core of followers causes me to realize that President Obama (and much of the rest of the professional left in America) has strapped himself in for a ride on the tiger. He’s driving the bus from the movie “Speed.”
Read More »Every year, the Tax Foundation does extraordinary work breaking down and analyzing the macro tax data from the IRS. We’ve cited their work on numerous occasions in an effort to militate the tax myths propagated by the left. If you were traveling here from a different country and only heard media reports of our tax code, you would come away with the conclusion that the rich | Read More »
There is an uncanny irony that has emerged from the bowels of the tax fight – one that is lost in all the banal details of the pitched battle. Democrats have fallen in love with the Bush tax cuts, which they fought so vociferously to block in 2001 and 2003. While the Democrats are demanding that we raise taxes on the rich, they are stridently | Read More »
“There appears to be an enormous divergence between what the Portuguese believe the state should deliver and the amount of taxes they are prepared to pay,” he told parliament recently.
– Vítor Gaspar, Portuguese Minister of Finance (HT: Ft.com)
It helps from time to time to get out that old set of notes from Economics 101 and give them a snappy re-read. On day 1 of the class, you get introduced to The Fundamental Problem of Economics. This cute little chestnut states that economics attempts to meet insatiable demand with limited resources. No feasible solution exists that is also optimal. The debate thus ensues over who gets fed and who gets (expletived).
Read More »For those of us who are not schooled in the ways of Washington, here is a glimpse into the duplicity of the “budget savings” as part of the fiscal cliff negotiations. House Agriculture Chairman Frank D. Lucas has raised hopes that Congress might still be able to produce a multi-year farm bill soon, possibly as part of a package to block impending tax increases and | Read More »
Last Wednesday, speaking in reference to Grover Norquist’s tax pledge, Senator Saxby Chambliss revealed himself to be a big government statist. Then again, we always knew that. He told a local TV station that if we hold the line on the anti-tax pledge, “then we’ll continue in debt, and I just have a disagreement with him about that.” This line of thought is emblematic of | Read More »
There is incessant talk of the need for conservatives to compromise on their principles, even though Democrats have never showed a willingness to compromise on any of their sacred tenets. However, there is little thought offered by the wizards of smart in the Republicans Party as to the meaning of compromise and how to effectively pursue one. Let’s excogitate over the definition of compromise. Compromise | Read More »
With all the focus on the presidential race and some of the congressional elections, there are a number of important state ballot questions that we must not overlook. Many of us claim that conservatism is not on the ballot in many states where the candidates for Congress are underwhelming. However, there are a plethora of ballot questions that deal with taxes, marriage, and Obamacare – | Read More »
Was Joe Biden on drugs or did he use Al Gore for his debate prep? That’s the question anyone viewing the debate on TV should be asking. Biden’s appalling petulant behavior, in conjunction with the moderator’s refusal to moderate the debate instead of debate the debate, allowed Biden to get out of control and make a clown of himself. That is all anyone will remember. | Read More »
Well, it’s official. The socialist country of Sweden plans to cut its corporate tax rate from 26.3% to 22% to improve prospects for new jobs and investment. So where does America – the beacon of freedom – stand in the rankings of corporate tax rates? We’re dead last among industrialized nations, checking in at 35% with another 5% on average for state taxes. Yes, we | Read More »
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Curtis Dubay to discuss the unfair and inaccurate analysis of Mitt Romney’s tax plan by the left-wing Tax Policy Center, what a tax plan in a Romney administration may actually look like, and whether or not we even need a federal income tax.
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