Throughout the tax debate, we heard righteous indignation from both parties regarding the need to close up special interest loopholes in the tax code. Yet the special interest loopholes were the only items preserved in the cliff tax bill. The entire package of over $40 billion in corporate subsidies and green social engineering was taken from a Senate Finance Committee Bill, which unfortunately, was supported | Read More »
Surprise surprise, they have a deal to avoid the politicians’ cliff. Who didn’t see that coming? Here’s an enigmatic riddle for you: what happens when Republicans publicly obsess about the degree of tax increases they are willing to accept without a commensurate demand for spending cuts? You get tax hikes and no spending cuts! In fact, we will spend even more as a result of | Read More »
Obama thinks the American people are stupid. Throughout the debate, Obama regurgitated his talking points about a balanced solution to the debt crisis. In the process he insulted the intelligence of every voter by intimating that the budget can be balanced by eliminating a few tax credits. No, he didn’t commit to tackling the tens of trillions in unfunded liabilities to Medicare and Social Security. | Read More »
Last week, with the help of Senator Orrin Hatch, the Senate Finance Committee voted to extend dozens of special interest tax preferences for green energy – preferences that are nothing more than subsidies and market distorters. Included in the $205 billion package is the Production Tax Credit, which subsidizes up to 80% of wind energy production. Score one for Big Wind! Other special interest handouts | Read More »
Whew! It’s good the Utah primary is over. Now Senator Hatch can relapse into his natural modus operandi. As we’ve noted before, at the end of every calendar year, Congress passes a ‘tax extenders’ bill to temporarily reauthorize specific tax breaks that have not been permanently written into law. Some of these extenders include universal tax cuts such as, the AMT patch, the R&D business | Read More »
Mitt Romney actually stood for bold colors yesterday. For conservatives, it should be the biggest story of the week. Conservatives are rightfully focused on the impending tax cliff that is facing American taxpayers at the end of the year. But we must not forget the subsidy cliff either. Dozens of special interest tax preferences, known as tax extenders, are slated to expire at the end | Read More »
One of the most appalling features of Obama’s presidency is the expansion of green venture socialism on behalf of corporate cronies who helped finance his campaign. Obama’s use of stimulus funds to distort the energy market with subsidies and loans to unprofitable solar energy companies has become the hallmark of his presidency, and it has theoretically provided us with a potent political weapon. Yet for | Read More »
Democrats have a penchant to misconstrue the parlance related to tax credits and subsidies. They refer to subsidies as tax cuts and tax cuts as subsidies. They would have you believe that oil companies are completely on the dole, while solar and wind companies are heavily taxed entities in desperate need of some “tax breaks” and loans in order to alleviate the burden of producing | Read More »
If I were pressed to offer one anecdote exemplifying our failure to elect consistent conservatives to Congress last November, the story of Senator Jerry Moran and Big Wind would be at the top of the list. In 2010, then-Congressman Jerry Moran beat former Congressman Todd Tiahrt for the Republican nomination for Senate in Kansas running as a red meat conservative. He easily won the seat | Read More »
After billions in stimulus funding failed to transform impotent green energy sources into profitable endeavors, even Obama has taken a break from promoting Wind and Solar. He is even talking more about oil and gas exploration, although his sincerity is in serious doubt. Unfortunately, some Republicans have not relinquished their affinity for using public funds to prop up their local wind industry. Yesterday, Iowa Gov. | Read More »
The Democrats think the American people are stupid. Throughout the debt ceiling imbroglio, Obama and every single elected Democrat have regurgitated their talking points about a balanced solution to the debt crisis. They have insulted the intelligence of every voter by intimating that the budget can be balanced by eliminating a few tax credits. No, they don’t want to talk about the tens of trillions | Read More »
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”~ President Ronald Reagan Democrats (and the Maine Republicans ladies) are agog to demonize oil companies and punish them with punitive tax increases. Their effort was defeat yesterday 52-48, but they plan to continue | Read More »
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