Keyword: taxhikes

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  • New Republican Super Committee member: We can’t rule anything out, including tax hikes

    08/12/2011 8:17:20 AM PDT · by SeekAndFind · 29 replies
    Hotair ^ | 08/12/2011 | Allahpundit
    I think he means this as a generic gesture of goodwill, i.e. let’s not start drawing lines until we’ve at least met face to face, but I bet a lot of grim, knowing glances and nods are being exchanged at Americans for Tax Reform right now. A leading Republican lawmaker would not rule out tax increases on Thursday if they could boost economic growth, adding that “everything is on the table” for a congressional panel charged with forging a deal to cut the deficit.Representative Dave Camp, head of the tax-writing Ways and Means Committee in the House of Representatives, told...
  • Most Voters Fear Debt Deal Will Raise Taxes Too Much, Cut Spending Too Little

    07/22/2011 9:04:05 AM PDT · by MissesBush · 35 replies
    While Washington wrangles over how to avoid defaulting on the government’s massive debt load, voters are worried the final deal will raise taxes too much but won't cut spending enough. The latest Rasmussen Reports national telephone survey finds that 62% of Likely U.S. Voters are worried more that Congress and President Obama will raise taxes too much rather than too little in any deal to end the debt ceiling debate. Just 26% fear they’ll raise taxes too little. Twelve percent (12%) aren’t sure. (To see survey question wording, click here.) Similarly, 56% worry that Congress and the president will cut...
  • "New Revenues." Enough Double Speak...Call Them What They Are---HIGHER TAXES!

    07/19/2011 2:22:26 PM PDT · by MissesBush · 30 replies
    07/19/11 | Misses Bush
    Am I the only one who's had it about 25 feet over my head with the Democrat and media double speak of referring to tax hikes as "new revenue?" Just today I heard on ABC's radio news broadcast Ann Compton refer to this feckless Gang of Six proposal as "increasing revenue." Politico reporting on Obama's latest bull fest dressed up as a press conference said the following "Obama urged congressional leaders to embrace the “Gang of Six” proposal, which would slash the deficit by $3.7 trillion over 10 years, in part by raising about $1 trillion in new revenue." Why...
  • The Beltway's Favorite Tax Metaphor (Massive Media Joke Calling Obama the "Adult" in Debt Talks)

    07/19/2011 9:10:54 AM PDT · by MissesBush · 10 replies
    The Wall Street Journal ^ | 07/19/11 | William McGurn
    In a Washington deadlocked over taxes and spending, there is nothing more cherished than its favorite metaphor—and nothing more revealing about the way our Beltway establishment thinks. Look at the ongoing negotiations over raising the debt ceiling. Almost from the beginning, President Obama has been described as being, or hoping to position himself as, "the adult in the room." This has become the received metaphor, operating as a sort of Gresham's law of political dialogue: Once introduced, it drives out most any other possible language. Here are just a handful of examples from the past few weeks: "Leading off: The...
  • On Deficit, Americans Prefer Spending Cuts; Open to Tax Hikes

    07/13/2011 4:13:00 PM PDT · by CharlyFord · 7 replies
    Gallup ^ | July 13, 2011 | Jeffrey M. Jones
    PRINCETON, NJ -- Americans' preferences for deficit reduction clearly favor spending cuts to tax increases, but most Americans favor a mix of the two approaches. Twenty percent favor an approach that relies only on spending cuts and 4% favor an approach that uses tax increases alone. These results are based on a July 7-10 Gallup poll, conducted as government leaders from both parties continued negotiating an agreement to raise the federal debt limit. Both Republicans and Democrats appear willing to raise the debt limit, provided the government outlines plans to significantly reduce federal deficits in the future. The parties generally...
  • Conservative Ben Stein Calls For Tax Hikes on Millionaires, Billionaires (say it ain't so!)

    07/11/2011 7:23:27 PM PDT · by markomalley · 103 replies
    CNS News ^ | 7/11/11 | James Zilenziger
    Ben Stein, an economist, actor, and conservative writer, said taxes should be raised on millionaires and billionaires to help reduce the federal deficit. “I am in favor of greatly raising the taxes on very wealthy people, millionaires and billionaires. I wouldn't raise the taxes on people making $250,000 a year,” said Stein in a June 29 interview on The O’Reilly Factor, guest-hosted by Laura Ingraham. Earlier, on June 25, Stein had told Cavuto on Business, “We've got to raise taxes. There's just no way around it. The deficit situation is so serious that while I wish we did not have...
  • Boehner: Tax hikes are “off the table”

    05/10/2011 12:48:50 PM PDT · by SeekAndFind · 13 replies
    Hotair ^ | 05/10/2011 | Ed Morrissey
    Today’s Matt Lauer discusses Pakistan with Speaker John Boehner to start off this Today interview, but the talk quickly turns to the budget. Lauer asks the depressingly silly question of whether the post-Osama operation “unity” will disappear in the upcoming debate over the budget, a question which Boehner wisely ignores. Lauer then says that the debate over the debt ceiling will make the fight over the FY2011 budget look like “child’s play,” to which Boehner agrees. This is the main event in fiscal policy, and it will take a titanic struggle to find our way through it. It’s an opportunity...
  • Boehner Lays Down the Debt-Ceiling Gauntlet

    05/10/2011 5:37:07 AM PDT · by Kaslin · 46 replies ^ | May 10, 2011 | Larry Kudlow
    House Republican Speaker John Boehner will give an important policy speech on the debt ceiling tonight at the Economics Club of New York. This is probably the key paragraph (taken from an advanced look at the speech): “So, let me be as clear as I can be. Without significant spending cuts and reforms to reduce our debt, there will be no debt-limit increase. And the cuts should be greater than the accompanying increase in debt authority the president has given. We should be talking about cuts of trillions, not just billions.” In plain English, Mr. Boehner is making this suggestion:...
  • Obama’s latest solution to the deficit: spending, ObamaCare, and tax hikes (so what's new?)

    04/13/2011 12:09:15 PM PDT · by SeekAndFind · 14 replies
    Hotair ^ | 04/13/2011 | Ed Morrissey
    We expected Barack Obama to offer little new in his speech on the budget; I’m not sure we expected as much repetition as we got. Bookended by rhetoric on the kind of America in which he wanted to live, Obama gave a four-step plan to confront the massive and crippling deficits ahead of us that entirely relies on the kind of proposals he’s already aired in the past. He gave little in the way of specifics, and made no mention at all of his deficit commission again. Instead of offering specifics on cuts, Obama instead offered specifics on … more...
  • Republicans scuttle Palin's oil tax increase

    04/01/2011 9:40:39 AM PDT · by Extremely Extreme Extremist · 110 replies
    GOP 12 ^ | 01 APRIL 2011 | GOP 12
    Sarah Palin's record as governor of Alaska has largely gone unchallenged by conservatives, despite the fact that one of her signature legacies was imposing an oil profits tax -- a distinctly liberal idea. Now, Republicans in the state Legislature and Palin's own Republican replacement, Gov. Sean Parnell, have scored a victory in an attempt to reverse her tax hike. Democrats, though, stood strong with Palin in opposing any rollback on the tax hike.
  • Gov. Malloy Proposes Measure To 'Tax' Coupons (tax original, not sale price)

    02/27/2011 4:19:29 PM PST · by matt04 · 28 replies
    HARTFORD, Conn. -- Devotees of coupons and discounts are angry at Gov. Dannel P. Malloy's proposal to slap a new sales tax on the original price of a good or service rather than the discounted price. Ending the sales tax exemptions for coupons, discounts and automobile trade-ins are among tax exemptions Malloy has proposed ending to help close the state's projected $3.5 billion deficit. For example, the tax would be imposed on the $30 price of a blouse, not the $15 sales price. ... Like many avid couponers, Juliano pays little or nothing for items after matching coupons with sales....
  • Malloy to propose income and sales tax hikes, fewer exemptions

    02/15/2011 8:54:34 AM PST · by YankeeReb · 8 replies
    The CT Mirror ^ | 2/14/2011 | Keith M. Phaneuf and Mark Pazniokas
    Gov. Dannel P. Malloy intends to propose one of the largest tax increases in state history Wednesday, seeking $1.5 billion in new annual revenue from income tax hikes on the wealthy and middle classes, and new sales taxes on clothing and other long-exempt products and services. In a plan outlined Monday to The Mirror by his senior staff, Malloy also would extend the corporate tax surcharge for another two years and restrict tax credits for the motion picture industry, while modestly increasing incentives for research and development. The sales tax rate would change for the first time in 20 years,...
  • California Gov. Jerry Brown pushes tax hikes! (Why am I NOT surprised?)

    02/01/2011 8:07:33 AM PST · by SeekAndFind · 30 replies
    CNN Money ^ | 02/01/2011 | Tami Luhby
    Californians should decide whether they want to pay $12 billion more in taxes to help plug the state's massive budget shortfall, Gov. Jerry Brown said on Monday. In his State of the State address, Brown urged legislators to put his plan to extend income and sales tax hikes on the ballot in a special election in June. If they don't, the governor said the state will see even harsher spending cuts than the $12.5 billion he is proposing. "At this moment of extreme difficulty, it behooves us to turn to the people and get a clear mandate on how we...
  • CBS poll shows tax hikes favored by … 9% (Given choice between tax hikes and spending cuts)

    01/15/2011 12:00:35 PM PST · by SeekAndFind · 28 replies
    Hotair ^ | 01/15/2011 | Ed Morrisey
    The best part of this poll? The sampling follies at CBS don’t even really matter, although this poll’s sample is closer to reality than most. When given a choice between tax hikes or spending cuts, it turns out that 77% of Americans are Tea Partiers, as Jammie Wearing Fool says: [A CBS] News poll finds that Americans strongly prefer cutting spending to raising taxes to reduce the federal deficit. While 77 percent prefer to cut spending, just nine percent call for raising taxes. Another nine percent want to do both.Yet most Americans could not volunteer a program they’d be willing...
  • State job goes to ex-lawmaker who supported tax hike

    01/15/2011 7:57:58 AM PST · by sleeper-has-awakened · 7 replies
    Chicago Tribune ^ | 01-14-11 | Ray Long and Hal Dardick
    Quinn's office, former rep deny connection between vote, appointment SPRINGFIELD — Illinois Gov. Pat Quinn gave a nearly $86,000 state job to a former lame-duck lawmaker who supplied one of the votes needed to pass his major income tax increase, but the governor's office and former state Rep. Careen Gordon both said Friday that there was no connection between the actions. "In the seven years and couple weeks I was in the legislature, my vote was never for sale," Gordon said. "Sometimes, there's just no conspiracy." Gordon, a Democrat from Morris who recently moved to Chicago, said she first approached...
  • Illinois Democrats Tax Plan: Renewed Life, or Nail In The Coffin?

    01/11/2011 11:52:44 PM PST · by U of IL Conservative · 10 replies
    Self-published ^ | January 8, 2011 | Fritz Pfister
    Headline in today’s SJR Business section: "Bernanke optimistic on unemployment." Whoever wrote the headlines needs to be charged with journalistic malfeasance. Quoting the first paragraph of the AP article; "Federal Reserve Chairman Ben Bernanke sketched a more optimistic view of the economy Friday but said the Fed’s $600 billion bond-buying program is needed because unemployment will likely stay elevated for up to five more years." We need to print money out of thin air increasing the risk for a bond crisis that would result in hyperinflation and economic chaos while unemployment is going to stay high for another five years....
  • Why not Soak the Rich? (Not all of them are that wealthy, hurting them won’t help the rest)

    12/09/2010 7:34:38 AM PST · by SeekAndFind · 31 replies · 1+ views
    National Review ^ | 12/09/2010 | Victor Davis Hanson
    For the last two years, $250,000 in annual income has been an arbitrary line in the sand of a renewed class war. Those above it must have their income taxes raised. Those below it are deemed more virtuous and so deserving of a tax cut. But who exactly are the “rich”? Zillionaires such as Warren Buffett, Bill Gates, and George Soros surely are. But these wealthiest individuals have so much money at their disposal that they don’t care much about income-tax rates. Their tax lawyers have found ingenious ways to divert millions of what would be owed to Uncle Sam...
  • Balancing the Budget, without Tax Hikes (Balancing it in 10 years... but do we have 10 years?)

    12/07/2010 7:03:21 AM PST · by SeekAndFind · 13 replies
    National Review ^ | 12/07/2010 | Kevin D. Williamson
    Nick Gillespie and Veronique de Rugy share the bad news: Since Bill Clinton left the White House in 2001, total federal spending has increased by a massive 60 percent in inflation-adjusted 2010 dollars. In fiscal year 2010, which ended September 30, the federal government spent $3.6 trillion, or 25 percent of Gross Domestic Product. That’s the most spending, in terms of percentage of GDP, since 1946. Likewise, last year’s $1.5 trillion deficit, as a percentage of GDP, was the largest deficit since 1945. Most economists talk about a debt-to-GDP ratio of 60 percent as a trigger point that makes investors...
  • Tax Cuts Explained In a Way Even Dumbocrats Can Understand

    12/02/2010 7:11:45 PM PST · by The Looking Spoon · 7 replies
    The Looking Spoon ^ | 12-2-10 | Jared H. McAndersen
    I received this in an email years ago, now feels like now is the right time to dust this puppy off as a reminder to the idiots on the left who argue that extending the Bush tax cuts for only some taxpayers (or none) is a REALLY bad idea. I could post column after column with empty rhetoric and zero evidence to support my position like liberal columnists and bloggers have been doing for the past few weeks. Or I can just play WWJD and deliver this parable. :-) Last I checked the real author of this remains a...
  • The Impossible Dream (NY Times Columnist says to fix the deficits, we cannot avoid tax hikes)

    11/09/2010 6:48:59 AM PST · by WebFocus · 44 replies
    New York Slimes ^ | 11/09/2010 | Bob Herbert
    One of the most frustrating tendencies of mainstream leaders in the United States is their willingness, year after debilitating year, to embrace policies that have no hope of succeeding. From Lyndon Johnson’s mad pursuit of victory in Vietnam to George W. Bush’s disastrous invasion of Iraq to today’s delusionary deficit zealots, the tragic lure of the impossible dream seems never to subside. Ronald Reagan told us he could cut taxes, jack up defense spending and balance the budget — all at the same time. How’d he do? As his biographer Garry Wills tells us, the Gipper “nearly tripled the deficit...
  • News networks ignore $4 trillion in Obama tax hikes

    10/20/2010 5:14:40 PM PDT · by RobinMasters · 8 replies
    WND ^ | October 19, 2010 | Bob Unruh
    A soon-to-be released media study documents how ABC, NBC and CBS repeatedly have portrayed President Obama as a leader who is cutting taxes while ignoring the potential $4.2 trillion in taxes – that about $14,000 apiece or $56,000 for a family of four – that could start hitting Americans as early as January 1. "Those potential tax increases are almost 20 times the size of the $214 billion temporary tax cuts Obama included in the stimulus bill. Tax cutter? Hardly," said a summary of the new report by the Media Research Center's Business & Media Institute. The study looked at...
  • A teachable moment for the prez

    10/09/2010 3:41:48 AM PDT · by Scanian · 28 replies · 1+ views
    NY Post ^ | October 09, 2010 | Editorial
    President Obama got an earful at home this week when his economic-recov ery advisory board came for a visit. The message: It's the tax cuts, stupid. Obama convened his panel to discuss job training -- but without any teleprompters to keep folks on message, the topic quickly shifted. The big issue: Obama's dangerous plan to let the Bush tax cuts die for top earners -- meaning that any household pulling in more than $250,000 faces a massive tax hike come Jan. 1. The tax hike will hit small businesses especially hard. And it also spells wage stagnation for the middle...
  • Study: Expiration of Bush tax cuts will hit poorest hardest

    10/07/2010 12:45:03 PM PDT · by MichaelNewton · 56 replies
    The Hill ^ | 10/07/10 | Jay Heflin
    Low-income workers stand to lose the most if lawmakers fail to reach a consensus on the Bush-era tax cuts, according to a new report from the Tax Foundation. The report states that on Jan. 1 the doubling of the child tax credit, increased standard deductions and income credits and the creation of the 10 percent tax bracket — all of which primarily aimed at non-wealthy taxpayers — will vanish if gridlock persists in Washington. While wealthier taxpayers pay more in taxes and stand to lose more money if the tax cuts expire, the impact on low-income taxpayers will be far...
  • Daniels: Tax hikes might be necessary (Mitch - 'we need to be grownups about it')

    09/11/2010 8:41:55 PM PDT · by Bigtigermike · 84 replies ^ | Saturday September 11, 2010
    From Andrew Romano's great new profile of a Mitch Daniels he portrays as pragmatic and principled (kind of oxymoronic, but one of Daniels' principles appears to be pragmatism). To wit, his suggestions: Let’s raise the retirement age, he says. Let’s reduce Social Security for the rich. And let’s reconsider our military commitments, too. When I ask about taxes—in 2005 Daniels proposed a hike on the $100,000-plus crowd, which his own party promptly torpedoed—he refuses to revert to Republican talking points. “At some stage there could well be a tax increase,” he says with a sigh. “They say we can’t have...
  • DEMINT: Washington doesn't deserve a raise--Democratic wastrels shouldn't get more taxpayer money

    09/08/2010 9:33:58 AM PDT · by jazusamo · 18 replies
    Thw Washington Times ^ | September 8, 2010 | Sen. Jim DeMint
    Even though they failed to create jobs, stimulate the economy or make health care affordable, President Obama, Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi want a raise. A $3.8 trillion raise. That's how much new money Washington will take from American workers and families over the next decade if the Obama tax hikes are enacted next year. Rather than admit they want to give the government a raise, the Democrats claim the government "can't afford" to keep taxes low. The truth is, Americans can't afford the European-style, socialist government the Democrats want to create. Most people get...
  • The 97% fallacy: Why Democratic tax-hike rhetoric is deceptive (Do tax hike impacts only 3%?)

    09/04/2010 7:25:23 AM PDT · by SeekAndFind · 27 replies
    Hotair ^ | 09/03/2010 | Ed Morrissey
    With the economy sliding during Wreckovery Summer and jobs growth falling behind the number of new workers with each new jobless report, one might think that Democrats would have figured out that they need capital to get back in the game. One way to entice wealth back into economy-expanding service would be to extend the tax cuts that expire at the end of the year, especially those at the top end of the spectrum, in order to keep potential investors from sheltering it instead. The Wall Street Journal reports that Democrats and the White House have decided to mischaracterize the...
  • 120 Days to Go Until the Largest Tax Hikes in History

    09/03/2010 8:32:36 AM PDT · by george76 · 3 replies
    Americans for Tax Reform ^ | September 3, 2010 | Ryan Ellis
    They will hit families and small businesses in three great waves on January 1, 2011: First Wave: Expiration of 2001 and 2003 Tax Relief... Personal income tax rates will rise...Higher taxes on marriage and family. Second Wave: Obamacare There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011... Third Wave: The Alternative Minimum Tax and Employer Tax Hikes When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired....
  • Schwarzman likens Bam to Hitler over taxes

    08/17/2010 3:09:02 AM PDT · by Scanian · 10 replies
    NY Post ^ | August 17, 2010 | MARK DeCAMBRE
    Steve Schwarzman, billionaire head of buyout giant The Blackstone Group, shocki , shockingly likened President Obama's threat to impose higher taxes on private equity firms to Adolf Hitler's invasion of Poland. "It's a war," declared Schwarzman, speaking at a private board meeting of a nonprofit organization. "It's like when Hitler invaded Poland in 1939." Schwarzman's over-the-top comments reportedly stunned those in attendance. Yesterday, Schwarzman said he was sorry about his choice of words, but he wasn't backing away from the issue. "I apologize for what was an inappropriate analogy," he said. "However, the fundamental issue of the administration's need to...
  • The dems' deficit-hawk fakery

    08/02/2010 3:02:00 AM PDT · by Scanian · 8 replies · 6+ views
    NY Post ^ | August 1, 2010 | Adam Brodsky
    Come Jan. 1, Democrats will officially end their romance with John May nard Keynes. That's the day they hope to sock America with the largest tax hike in years, all in the name of their supposed new love: deficit-cutting. But don't expect that fling to last long, either; if you want to know who's really won their heart, ring Joe the Plumber. Or Robin Hood. They'd know. Ever since President Obama took office, and Dems took Congress, they've insisted the right medicine for our ailing economy was deficit spending. Last year's nearly $1 trillion stimulus was all borrowed money --...
  • We're All Honkies Now: Monstrous Obama Tax Hikes Soon to Bleed this Country White

    07/24/2010 7:35:32 AM PDT · by Reaganite Republican · 21 replies
    Reaganite Republican ^ | July 24, 2010 | Reaganite Republican
    Just wait until this hits the fan on December 31st -less than 6 mos from now: huge tax increases that will not only crush our frail economy, but go-against hours of hopenchangey hogwash and unambiguous prior Obama pledges to not increase taxes "one dime" on the middle-class (some would call them "lies"). In reality, the working-poor, families, and investors in our economy will actually be getting soaked he worst: -Obama Tax Increases- Personal Income Taxes: 10% bracket goes to... 15% Increase: +50% 25% bracket goes to... 28% Increase: +12% 28% bracket goes to... 31% Increase: +11% 33% bracket goes to......
  • How The Expiring Bush Tax Cuts Affect You

    07/08/2010 5:07:15 AM PDT · by Wpin · 60 replies · 2+ views ^ | July 7, 2010 | Bill Bischoff
    The so-called Bush tax cuts are scheduled to expire at the end of the year. Although some of the cuts retain bipartisan support in Congress and may yet be extended, as of now, Washington has some severe changes in store for you and your family. Higher Tax Rates for All You may have been led to believe that only individuals in the top two brackets will face higher federal income taxes when the Bush cuts go bye-bye. Not true! Unless Congress takes action and President Obama goes along, rates will go up for everyone -- not just a sliver of...
  • Business-Power Neglect

    07/03/2010 5:07:37 AM PDT · by Kaslin ^ | July 3, 2010 | Larry Kudlow
    This whole debate about government stimulus versus austerity, and the impact of these policies on economic growth, misses a key point: It is business, not government, that creates jobs. The economic power of business is the missing link in the faux debate that is now raging over spending and deficit policies. A brief look at the recent jobs report for June tells this story. After spending more than $1 trillion through so-called government stimulus, we are at best experiencing a grinding and anemic jobs recovery. Private payrolls are growing slowly. The workweek is again shrinking. And average hourly earnings have...
  • 6 Months To Go Until Biggest Tax Hikes In History!

    07/02/2010 7:15:14 AM PDT · by Brittany Pounders · 13 replies · 1+ views
    www.LibertyJuice,com ^ | July 2, 20101 | Brittany Pounders
    Americans for Tax Reform is reporting that we have six months to go until the biggest tax hikes in American history hits us and hits us hard! The first wave begins by: The Bush tax cuts will expire and personal income tax will rise, marriage penalty will return, the return of the death tax, and higher tax rates on investors. The second wave continues with: TWENTY NEW taxes just in Obamacare, the medicine cabinet tax, the special needs kids tax, and the HSA withdrawal tax hike. The third wave: The AMT (affecting over 28 million familes), the employer tax hikes,...
  • Hoyer Suggests Middle Class Tax Hikes Coming, Despite Obamas Pledge

    06/23/2010 7:47:45 AM PDT · by csd · 10 replies ^ | June 23, 2010 | Virginia Right
    Despite The President’s Promises That He Wouldn’t Raise Taxes On The Middle Class, House Leader Suggests Middle Class Tax Hikes May Be On The Way OBAMA PROMISED NO MIDDLE CLASS TAX INCREASES SEN. BARACK OBAMA (D-IL): “If You Make Under $250,000, You Will Not See Your Taxes Increased By A Single Dime. Not Your Income Tax. Not Your Payroll Tax. Not Your Capital Gains Tax. No Tax.” (“White House Steadfast On Pledge Of No Middle-Class Tax Increase,” CNN, 8/3/09) ROBERT GIBBS: “The President Was Clear During The Campaign About His Commitment On Not Raising Taxes On Middle-Class Families … I...
  • Disagreeing With Art Laffer ( Tax Hikes Won't Kill the Economy, at least not in 2011)

    06/16/2010 6:24:06 AM PDT · by SeekAndFind · 22 replies · 484+ views
    Forbes ^ | 06/16/2010 | Brian Westbury and Robert Stein
    Policy matters--especially tax rates. Over time few things affect economic activity more than absolute and relative tax rates. In addition, changes in tax rates, particularly when they can be anticipated ahead of time, can also result in shifts in the timing of economic activity. Recently, Arthur Laffer--prominent economist and inventor of the Laffer Curve--fretted about the economic impact of the expiring (2003) Bush tax cuts. In a Wall Street Journal opinion piece he wrote that the tax hikes would lift growth in 2010 but cause a double-dip recession in 2011 when the rates actually went up. Laffer cites the early...
  • 5 Things You Can Do Now to Get Ready for Tax Hikes in 2011

    06/13/2010 10:18:01 AM PDT · by george76 · 36 replies · 1,798+ views
    wallet pop ^ | Jun 11th 2010 | Kelly Phillips
    In less than six months, taxes for many Americans are going up. Tax cuts originally signed into law by former President Bush are set to expire at the end of 2010 unless Congress makes a change in the Tax Code... If the law stays the same, on January 1, 2011, you can expect that the highest federal income tax rate for individuals will increase to 39.6% from 35%; capital gains tax rates will rise to 20% and dividends will lose their tax favorable status and retreat back to ordinary income status. Even worse, state and local governments are struggling to...
  • Settling for Less… And For What?

    06/10/2010 12:18:11 AM PDT · by Making_Sense [Rob W. Case] · 7 replies · 79+ views
    MSMB ^ | June 10, 2010 | Rob W. Case
    I have had a very interesting week so far. I had an individual who lives in Europe unload a truck full of grievances regarding the laws and politics of his country. Just keep in mind. What this person shared with me, President Obama and the liberals in Congress are actively pursuing. I had a waitress at one of my favorite restaurants lose her focus, and tell me how burned out she is, and I had an individual who works as a custodian for a local school tell me how not only are they cutting back, but how 4,000 people applied...
  • Bam's soak-the-taxpayer panel

    05/03/2010 3:30:23 AM PDT · by Scanian · 5 replies · 493+ views
    NY Post ^ | May 3, 2010 | BETSY McCAUGHEY
    The president's Bipartisan Commission on Fiscal Responsibility plans to take taxpayers to the cleaners. The timing of the commission is ironic. It met for the first time April 23, some 33 days after the president signed his health law -- which created $910 billion in entitlements through 2019 and possibly twice that cost in the second decade. The new law nearly doubles the size of Medicaid, adding 18 million people to the rolls. It's welfare reform in reverse. The law also creates an entitlement for moderate-income households (those earning up to $88,000 a year) to get taxpayer-funded subsidies for private...
  • CA: DeVore Slams Backroom Deals, Only Republican To Oppose Maldonado Confirmation

    04/25/2010 7:18:30 PM PDT · by CounterCounterCulture · 6 replies · 433+ views ^ | 23 April 2010
    DeVore Slams Backroom Deals, Only Republican To Oppose Maldonado Confirmation FOR IMMEDIATE RELEASE -- (SACRAMENTO) – California State Assemblyman Chuck DeVore, (R-70-Irvine), today spoke out against the backroom deals involved in the effort to confirm state Senator Abel Maldonado as California’s Lieutenant Governor. He then voted against the motion to confirm Maldonado and urged other lawmakers to do the same. DeVore cited Maldonado’s vote for the higher taxes included in 2009’s Proposition 1A in exchange for an agreement by the Governor and Democrat leaders to place Proposition 14, the open primary measure that infringes upon the rights of partisan voters...
  • Pelosi Celebrates Approval of Final HC Bill That Slaps Taxes on Disabled and Children

    03/25/2010 11:22:05 PM PDT · by Welshman007 · 7 replies · 413+ views
    Conservative Examiner ^ | 3/26/2010 | Anthony G. Martin
    Like a drunken captain of a sinking ship who celebrates the fact that the crew was saved at the expense of the passengers, including the women and children, Nancy Pelosi hailed the approval of the final version of ObamaCare. The bill slaps heavy taxes on medical devices and prosthetics used by veterans, the elderly, the disabled, and even children. But it all was worth it, you know. It was most important that Barack Obama and the neo-Marxists in Congress get 'a win' under their belts. Republicans sought to delete these taxes but the Democrat-controlled Senate rejected that proposal, allowing the...
  • Bam's tax betrayal

    02/12/2010 3:03:58 AM PST · by Scanian · 16 replies · 788+ views
    NY Post ^ | February 12, 2010 | Editorial,
    Remember Joe the Plumber? He was the blue-collar dude who confronted Barack Obama late in the 2008 campaign with this challenge: "Your new tax plan's going to tax me more, isn't it?" Nonsense, replied the candidate: "From 250 [thousand dollars a year] down, your taxes are going to stay the same." Indeed, he insisted, 95 percent of "working people" would see their taxes go down in his administration. Well, think again. A year into his presidency, Obama now says he's "agnostic" on what was the principal plank in his economic platform: No tax hikes for individuals making $200,000 a year...
  • Health Bill Hoax ...

    11/19/2009 5:29:17 PM PST · by Kaslin · 19 replies · 1,236+ views ^ | November 19, 2009 | INVESTORS BUSINESS DAILY staff
    Reform: Only a Bernie Madoff could believe the Senate's health care bill will extend coverage to 31 million Americans while cutting deficits by $127 billion over 10 years. It would be the first profitable entitlement. But that's what Majority Leader Harry Reid, citing Congressional Budget Office estimates, tells us the 2,074-page bill — said to cost only $849 billion over a decade — would do. Like House Speaker Nancy Pelosi, he seems to be following Vice President Joe Biden's admonition at an AARP town hall meeting that "we've got to spend money to keep from going bankrupt." We suspect Reid's...
  • Land Of The Fee (IBD Exclusive Series: Government-Run Healthcare: A Prescription For Failure)

    09/09/2009 5:23:59 PM PDT · by Kaslin · 10 replies · 667+ views
    IBD Editorials ^ | September 9, 2009 | INVESTORS BUSINESS DAILY Staff
    Reform: The chairman of the Senate Finance Committee wants levies on insurers to pay for ObamaCare and fines for families who don't sign up. We can cut costs and expand coverage without sacrificing freedom.To keep ObamaCare alive, Montana Democrat Max Baucus has proposed a Rube Goldberg scheme of fees and fines on insurers and the uninsured designed to forcibly bring everyone into the loving and protective arms of the nanny state. To help finance his Plan B, Baucus would impose annual fees of $6 billion on health insurers, $4 billion on medical-device makers, $2.3 billion on drug manufacturers and $750...
  • Californians 'Just Vote No' Against Tax Hikes

    05/21/2009 1:49:42 AM PDT · by Cindy · 1 replies · 647+ views
    CNS ^ | May 21, 2009 | Marie Magleby
    ( – Californians have been paying increased taxes since February, but Tuesday they spoke out clearly they don’t want those temporary tax hikes to last longer than planned. Voters in the Golden State overwhelmingly rejected five of six ballot measures in a special election Tuesday – saying no to tax increases, increased state borrowing and earmarks for education. “No” votes exceeded 65 percent in all but one measure, which passed. It prevents lawmakers and public officials from receiving pay raises in years when the state is running a deficit.
  • Libertarian Party Plan Scraps IRS, Curbs Tax Hikes and Prohibits Bailouts

    04/15/2009 6:37:15 AM PDT · by truthnomatterwhat · 18 replies · 497+ views
    The Voice Magazine ^ | April 15, 2009 | Jennifer LeClaire
    On the eve of Tax day – a day when the grassroots movement that is witnessing more than 2,000 TEA Parties across the United States makes its voice heard – the Libertarian Party is proposing a new plan for America. This plan would abolish the income tax, enact a balanced budget amendment to the U..S. Constitution and eradicate corporate welfare. The Libertarian Party National Chair William Redpath is correct when he says that tens of millions of Americans are angry, fed up and demanding real reform. The question is, is his party’s three-point plan the solution to keeping the government...
  • 'Income redistribution' coming in Dem budget

    04/01/2009 8:59:46 PM PDT · by RobinMasters · 27 replies · 1,375+ views
    WND ^ | April 1, 2009 | WorldNetDaily
    The nation needs to face the fact that income will be redistributed and health care rationed under a federal budget plan being moved through Congress at the behest of President Obama, according to an official who served under President Clinton. The plan, according to Lawrence J. Haas, former communications director for Vice President Al Gore, said Obama "wants to make permanent all the tax cuts from those years [2001 and 2003] for people making up to $250,000 a year and frankly to redistribute income a bit in a fair way so he would raise taxes on those above $250,000." His...
  • Top Obama officials defend tax hikes in budget

    03/03/2009 10:43:50 AM PST · by NormsRevenge · 36 replies · 1,238+ views
    AP on Yahoo ^ | 3/3/09 | Stephen Ohlemacher - ap
    WASHINGTON – President Barack Obama's top economic officials on Tuesday vigorously defended tax hikes in the administration's $3.6 trillion budget against Republican claims that they would affect nearly all Americans. Treasury Secretary Timothy Geithner and White House Budget Director Peter Orszag, in separate appearances on Capitol Hill, stuck to the administration line that the president's budget would benefit 95 percent of working Americans. Higher taxes for affluent Americans would not come until 2011 once "we are safely into recovery," Geithner told the tax-writing House Ways and Means Committee. "I'm confident this is the right path for the country," Geithner said.
  • Schwarzenegger's latest budget plan: Deep cuts, large tax hikes, more borrowing

    01/01/2009 10:26:37 AM PST · by NormsRevenge · 33 replies · 880+ views
    Mercury News ^ | 1/1/09 | Mike Zapler
    SACRAMENTO — Gov. Arnold Schwarzenegger's staff Wednesday released his most detailed plan yet to tackle the state's staggering budget deficit, calling for deep cuts to state services, hefty tax increases and a large new round of borrowing to close a projected $41.6 billion shortfall through mid-2010. While little of the proposal was new, it included some striking elements, such as cutting billions of dollars from public school funding and slashing the deduction state taxpayers can claim for their dependents. The plan also arrived a day after the state controller warned tax refunds might have to be paid with IOUs in...
  • California Republicans may be willing to trade breaks for businesses for tax hikes

    11/27/2008 7:36:53 PM PST · by NormsRevenge · 15 replies · 674+ views
    Mercury News ^ | 11/27/08 | Mike Zapler
    SACRAMENTO — As the Legislature's latest attempt to fix the state's fiscal mess ended once again in a bout of partisan sniping and no visible progress, something surprising happened: Hints began to emerge of the possible contours of a compromise. All year, Republicans have refused to consider raising taxes, without which Democrats and Republican Gov. Arnold Schwarzenegger insist the state's massive deficit — $28 billion through mid-2010 — can't possibly be closed. At least a handful of GOP votes are needed because California law requires a two-thirds supermajority to raise taxes. That opposition continued when the governor called lawmakers back...
  • Tax hikes not part of Obama's big plan

    11/24/2008 7:26:58 AM PST · by mlocher · 19 replies · 642+ views
    Columbus Dispatch & AP ^ | November 24, 2008 | Jim Kuhnhenn
    WASHINGTON -- President-elect Barack Obama signaled yesterday that he will move aggressively to rescue the plunging economy, demanding swift passage by Congress of a massive two-year spending and tax-cutting program. "We're out with the dithering. We're in with a bang," a top aide said. Obama's plans could put aside his campaign pledge to repeal a Bush tax cut for the wealthy. Those tax cuts might remain in place until they are scheduled to die in 2011, said William M. Daley, an economic adviser. "That looks more likely than not," he said.