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The Competitive Enterprise Institute thinks so and [Tues]day “filed suit to force the Treasury Department to release more than 7,300 emails believed to discuss a new ‘carbon tax’ Obama administration allies in Congress are expected to propose in the upcoming lame duck session.” The CEI press release continues, “the suit, filed in U.S. District Court in Washington, D.C., seeks emails on official government accounts that CEI had requested under the Freedom of Information Act. Treasury has said nothing about this topic publicly, but the existence of such extensive email traffic likely reflects serious ongoing discussions between Treasury officials, outside pressure...

[Wednes]day, the President held his first press conference since being elected to a second term. President Obama was given the opportunity to come clean on the size of the tax hike he wants on small business employers when MSNBC White House Correspondent Chuck Todd asked him: “Are you -- is there no deal at the end of the year if tax rates for the top 2 percent aren't the Clinton tax rates, period, no if, ands or buts? Any room in negotiating on that specific aspect of the fiscal cliff?” The President has repeatedly argued that he wants “to go...

A new CBO report released yesterday finds that Taxmageddon’s economic impact for 2013 would be disastrous for the economy. The report projects that gross domestic product (GDP) would fall by 0.5 percent for 2013, a recession by economist standards. The loss in growth would then result in millions of lost jobs by raising unemployment from 7.9 for the current quarter to 9.1 for the fourth quarter of 2013. In contrast, the CBO expects growth to reach 2.25 percent (not including an additional .75 percent in growth from extending payroll tax cut and long-term unemployment benefits) by the end of 2013...

Quote of the Day: “Somehow we have to have to figure how to boost the price of gasoline to the levels in Europe.”- Energy Secretary Steven Chu Regulatory cap-and-trade With Congress and the American people rejecting cap-and-trade, the Obama Administration has employed the Environmental Protection Agency (EPA) to achieve similar ends. Delaying job-killing regulations until after the November election, the EPA is currently sitting on numerous proposed rules sure to increase the cost of energy. A recent report from Senator James Inhofe (R-Okla.) unearths thirteen EPA regulations likely to hit American consumers should President Obama be reelected. ... 316 (b)...

Gary Johnson voters in swing states and Mitt Romney voters in uncontested states now have a way to swap votes, resulting in a win-win for both sides. Go to http://garymittvoteswap.com to connect. This could make a difference in this very close election. Conservatives in safe states are NEEDED.

Today, the Treasury announced that it expects the federal government to reach the debt ceiling near the end of this year. Matthew Rutherford, the assistant secretary for financial markets at the treasury said that “treasury has the authority to take certain extraordinary measures to give Congress more time to act to ensure we are able to meet the legal obligations of the United States.” This announcement corresponds with a recent letter sent to Treasury on October 15th by Senators Hatch and Sessions asking what plan the government has to prevent defaulting on its obligations. While Treasury has stated it can...

As a service to the public, Americans for Tax Reform has released a projected tax form to help families and tax specialists prepare for the additional filing requirement required by the Affordable Healthcare Act's individual mandate. Starting in 2014, all Americans who file income tax returns must complete an additional IRS tax form. The new form requires disclosure of a taxpayer’s personal identifying health information in order to determine compliance with the Affordable Care Act’s individual mandate. As confirmed by IRS testimony to the tax-writing House Committee on Ways and Means, “taxpayers will file their tax returns reporting their health...

The U.S. corporate income tax is the highest in the developed world. When state corporate taxes are factored in, the U.S. has the highest corporate income tax rate in the world at 39.2 percent. America not only has a higher rate than the developed nation (OECD) average; we have a higher rate than each of our chief trading competitors: Country Corporate Income Tax Rate United States 39.2% OECD Average 25% Canada 27.6% Mexico 30% Japan 35% Germany 30.2% United Kingdom 26% France 34.4% Obama claims to be for corporate tax reform, but his plan is actually a net tax hike....

A lot of discussion has been made on the specifics of President Barack Obama and Governor Mitt Romney’s tax and budget plans. Based on statements made by both presidential candidates and CBO projections, it can be concluded that there is a drastic difference between their plans. Our friends at the Tax Foundation have constructed a fun and convenient chart comparing the topline tax and budget positions of President Obama and Governor Romney:

The nanny-staters have been busy this week finding every way they can attack your freedom. Grant aimed at creating a force of peeping-toms: If you live in Massachusetts and Connecticut, watch out! The Department of Transportation has announced a grant for expanding these states’ ability to spy on drivers to make sure they are not texting while driving. Besides the obvious invasion of privacy, this money is wasted on preventing a behavior that is not linked to a marked increase in traffic fatalities. “The irony here is that the statistics really don’t bear out the ideas that these things are...

In a recent campaign stop in Nevada, Vice President Biden attacked Gov. Romney for signing the Taxpayer Protection Pledge to oppose and veto any tax increases. During his speech, Biden purposely distorted the meaning of the Pledge by saying: “These guys signed a pledge to Grover Norquist, instead they should sign a pledge to you, the middle-class people.” As Americans for Tax Reform has repeatedly pointed out, the language of the Taxpayer Protection Pledge is quite clear. The Pledge is a personal, written commitment by an elected official to taxpayers. The Pledge is made in writing to voters before a...

Today a letter was sent to the President and members of Congress by 15 CEOs from some of the largest financial institutions in the U.S. The 15 CEOs who signed the letter represent the Financial Services Forum, a non-partisan organization that deals specifically with financial and economic policy. In the letter, they urge for the avoidance of the coming Taxmageddon and warn of the dire effects that inaction would have on the economy: “The consequences of inaction—for stability in global financial markets, for economic growth, for millions of Americans still without work, and for the financial circumstances of American businesses...

During Tuesday’s presidential debate, President Obama dedicated a substantial amount of time arguing that he, in fact, is a huge advocate of traditional energy – coal, natural gas, and oil. In reality, during the past four years Americans have watched gasoline prices double, the Keystone Pipeline needlessly killed, and the phasing out of coal-fired electricity. While these industries employ millions of Americans, the implications of Obama’s policies affect every American energy consumer. With fewer offshore lease sales, Obama’s has all but assured higher prices at the pump. With less coal being converted into power, Obama has all but assured higher...

On November 6th the people of Michigan will go to polls and vote whether to enshrine collective bargaining in the state constitution or allow Michigan’s legislature to retain control of its state. The simple fact is that Proposition 2 will give Big Labor free reign over a range of issues and will allow them to essentially veto anything they don’t like. According the Mackinac Institute, Proposition 2 could potentially cost the taxpayers of Michigan billions in savings. Current laws that could be affected include: Health insurance premium sharing. Recent legislation protects taxpayers from paying lavish government employee health insurance premiums....

1. Obama: “Four years ago, I told the American people I would cut taxes for middle class families. And I did.” Reality: Obama has clearly broken his 2008 “firm pledge” not to sign “any form of tax increase” on families making less than $250,000. Of the twenty new or higher taxes in Obamacare, no fewer than seven of the taxes fall directly on middle class families, and many more will raise costs indirectly for these families. Of recent note, Obama has altered his tax pledge: In a second term, he only promises not to raise income taxes on those making...

The Obama-Biden tax plan calls for a hike in the small business tax rate from 35 percent today to over 40 percent next year. President Obama and his supporters will often argue that “only” three percent of small business owners will be affected by his tax rate hike. While this is true, it masks the fact that this is a tax increase on one million successful small businesses (i.e. three percent of the 30 million small business tax returns filed annually). The Obama-Biden plan will raise taxes on a majority of small business profits and hit those companies which employ...

Despite President Obama’s promise that the deficit would be cut in half by the end of his first term, the CBO’s recent report of a $1.1 trillion deficit for FY 2012 will mark the fourth consecutive trillion dollar deficit year under this administration. As election-day nears, President Obama’s track record continues to be tarnished with his failure to keep his promises on taxes, healthcare, and now the deficit. The economic statistics compiled by the CBO reflect the current administration’s incompetency in key areas:    Before  Now  Change  Long-Term Unemployed1  2.7 Million 4.8 Million   +78%  Price of Gas2  $1.85  $3.85  +108%...

The Romney-Ryan tax plan gets a jumpstart on fundamental tax reform. To do this, the plan would lower all marginal income tax rates by 20 percent. To pay for this rate reduction, the Romney-Ryan tax plan would broaden the income tax base, but only for high earners. Below is how three typical middle-income households will fare under the Romney-Ryan tax plan (each household is assumed to use the standard deduction and personal exemptions/child tax credit): Family of Four earning the median income:Adjusted gross income: $70,000 Federal income tax under present rules: $3,581 Federal income tax under Romney-Ryan: $2,465 Annual Tax...

Obama’s Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) codified their war on American drivers by finalizing new car mileage mandates, otherwise known as CAFÉ standards. Increasing the cost of new cars by thousands of dollars, new CAFÉ rules will require cars built in 2025 to get at least 54.5 miles per gallon. With current 2011 cars averaging 28.6 miles per gallon, the EPA is going to require automotive manufacturers to nearly double fuel economy standards in a little more than a decade. While the Obama administration has made the 2009 Auto-Bailout one of the center-pieces of...

During Thursday’s debate, Vice-President Joe Biden engaged – in his words – in a fit of malarkey on the tax issue. Below are the details of what he claimed and what the real truth is: Biden: “97 percent of the small businesses in America pay less - make less than $250,000. Let me tell you who some of those other small businesses are: hedge funds that make $600 million, $800 million a year. That's – that's what they count as small businesses, because they're pass-through.” The Obama-Biden plan to raise the top two marginal income tax rates (from 33 and...