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Keyword: taxincreases

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  • Obama Won’t Extend Bush-Era Tax Cuts to Wealthy

    09/07/2010 5:24:53 PM PDT · by truthandlife · 84 replies
    NY Times ^ | 9/7/10 | Jackie Calmes
    President Obama will rule out on Wednesday any compromise that would extend the Bush-era tax cuts for the wealthy beyond this year, officials said, adding a populist twist to an election-season economic package that is otherwise designed to entice support from big businesses and their Republican allies. Related Mr. Obama’s opposition to allowing the high-end tax cuts to remain in place for even another year or two would be the signal many Congressional Democrats have been awaiting as they prepare for a showdown with Republicans on the issue and ends speculation that the White House might be open to an...
  • Extending the Expiring Tax Cuts: What, How, When and Why

    07/27/2010 6:17:59 AM PDT · by reaganaut1 · 9 replies · 1+ views
    Goldman Sachs: US Daily ^ | July 26, 2010 | Alec Phillips
    Momentum behind extending all of the expiring 2001/2003 tax cuts has increased lately, and while it is clearly possible that Congress will extend them, the most likely scenario appears to be a one- or two-year extension of only the middle-income rates, with the top brackets and the capital gains and dividend tax rates left to expire. Tail risks to growth related to fiscal policy are increasing. An increased focus on the budget deficit has made further fiscal stimulus unlikely, so we recently removed any further extensions from our assumptions. On the tax side, there a clear risk that Congress extends...
  • The Bitter Fruit of Obamacare

    07/16/2010 6:55:58 AM PDT · by Kaslin · 24 replies · 4+ views ^ | July 16, 2010 | Floyd and Mary Beth Brown
    Click here to find out more! Get ready for your life to change. The so-called benefits of ObamaCare don't start until 2014, but the tax increases, misallocated resources and federal regulations start now. Speaker Nancy Pelosi famously said the night of ObamCare's passage, "We have to pass the bill so that you can find out what is in it ." The emerging picture is frightening. ObamaCare dramatically alters the already-overregulated health insurance market. The federal government will now manage your health care decisions. The law creates a maze of mandates, federal directives, price controls, tax increases and subsidies. We all...
  • Coming soom from the Democrats: The worst tax increases of 2011

    07/14/2010 6:44:50 AM PDT · by justsaynomore · 20 replies
    Herman Cain web site ^ | July 11, 2010 | Herman Cain
    All tax increases are bad, but there are some that are just plain unfair and punitive for no logical reason. The marriage penalty, the small business penalty, the retirement penalty, and the death penalty are in that category.Everyone except the most clueless “mushrooms” of our society know that tax rates will return to 2000 levels if the Democrat-controlled Congress does nothing to stop them.And they have shown a real skill for doing nothing but legislative carnage to this country in the last 18 months. That carnage has included the publicly unpopular Health Care Deform bill, the House-passed Cap and Trade...
  • New York Reaches Deal to Raise Cigarette Tax

    06/19/2010 4:26:36 AM PDT · by reaganaut1 · 47 replies · 1,063+ views
    New York Times ^ | June 18, 2010 | NICHOLAS CONFESSORE and DANNY HAKIM
    Cigarette taxes in New York would jump by $1.60 a pack under a tentative deal reached between Gov. David A. Paterson and legislative leaders, which would give New York the nation’s highest state cigarette taxes. The proposal, which officials said Mr. Paterson would include in an emergency budget bill due for a vote on Monday, would also raise wholesale taxes on other tobacco products like chewing tobacco, bringing the tax on those products closer in line with those of cigarettes. In New York City, which levies steep taxes of its own on tobacco products, a pack of cigarettes would come...
  • CALIFORNIA: AG's office questions legality of Assembly budget borrowing

    06/17/2010 6:21:26 PM PDT · by SmithL · 8 replies · 345+ views
    SacBee: Capitol Alert ^ | 6/17/10 | Jim Sanders
    In 2004, Gov. Arnold Schwarzenegger barnstormed around the state for Proposition 58, using an oversized credit card as a prop and vowing that it was time for the state to "tear up its credit card." Now Attorney General Jerry Brown has concluded that Assembly Democrats' plan to borrow billions to help ease the state's $19.1 billion deficit could be deemed illegal under that ballot measure if challenged in court. "We conclude that a court could reasonably determine that the proposed transaction violates Proposition 58," the attorney general's office said in a letter to Schwarzenegger's legal affairs secretary. Assembly Speaker John...
  • Hillary Clinton: Rich 'Not Paying Their Fair Share' in Taxes ("Brazil should be our example")

    05/28/2010 8:12:01 AM PDT · by SeekAndFind · 65 replies · 1,351+ views
    Fox News ^ | 05/28/2010
    The rich are not being taxed enough and the economy is suffering for it, Secretary of State Hillary Clinton said Thursday. The former first lady broached the subject during a national security discussion at the Brookings Institution. She lamented that the United States has lowered taxes on the wealthy and said nations around the world need to "increase their public revenue collections" to spur investment. "The rich are not paying their fair share in any nation that is facing the kind of employment issues (the United States is), whether it's individual, corporate, whatever the taxation forms are," she said. Clinton...
  • Live blogging the Nevada Vision Stakeholder Group

    05/14/2010 9:51:58 AM PDT · by NevadaPolicyResearchInstitute · 3 replies · 141+ views
    Write on Nevada ^ | 14 May 2010 | Victor Joecks
    The Nevada Vision Stakeholder Group, (comprised mainly of government officials, government employees (or union officials) and those receiving government handouts), was created by the IFC todetermine that Nevada needs more government. This is a live blog of their second to last meeting. If you are concerned about Nevada raising taxes in 2011, you need to follow this group, because its report is going to be used to try and justify raising taxes in 2011.
  • Backing Off the Tax Pledge? (It was a "preference" or "stance".)

    05/13/2010 6:21:02 AM PDT · by reaganaut1 · 30 replies · 869+ views
    Daily Beast ^ | May 13, 2010 | Lloyd Grove
    Remember President Obama’s supposedly inviolable pledge—repeatedly uttered during the 2008 campaign and at countless town meetings since the inauguration—that he would never raise taxes on middle-class citizens who earn $250,000 a year or less? This morning at a Manhattan breakfast sponsored by Thomson Reuters, White House Budget Director Peter Orszag threw that pledge out the window. Instead, he described Obama’s “read my lips, no new taxes” pledge as a “stance” and a “preference” that is subject to study by the president’s newly formed bipartisan Commission on Fiscal Responsibility. “The president has been very clear about what he prefers,” Orszag said...
  • Reagan’s Tax Increases

    04/07/2010 10:33:57 AM PDT · by jentilla · 47 replies · 583+ views
    As politically unpopular as raising taxes is, cutting spending is much, much harder. And it’s getting harder by the day, as the share of the budget going to entitlements and interest on the debt increases and therefore “discretionary” spending becomes an ever smaller slice of the pie.
  • Obama Economic Adviser Says U.S. Should Consider 'Value Added Tax' (Here it comes!)

    04/07/2010 4:37:00 AM PDT · by Red in Blue PA · 144 replies · 4,094+ views
    Foxnews ^ | 4/7/2010 | Staff
    Acknowledging it would be a highly unpopular move, White House economic adviser Paul Volcker said yesterday the United States should consider imposing a "value added tax" similar to those charged in Europe to help get the deficit under control. A VAT is a national sales tax that, like state and city sales taxes, would be collected by retailers. Volcker, at the New-York Historical Society, told a panel on the global financial crisis that Congress might also have to consider new taxes on carbon and energy.
  • The Rich Can't Pay for ObamaCare

    03/30/2010 7:35:12 AM PDT · by reaganaut1 · 10 replies · 1,172+ views
    Wall Street Journal ^ | March 30, 2010 | Alan Reynolds
    President Barack Obama's new health-care legislation aims to raise $210 billion over 10 years to pay for the extensive new entitlements. How? By slapping a 3.8% "Medicare tax" on interest and rental income, dividends and capital gains of couples earning more than $250,000, or singles with more than $200,000. The president also hopes to raise $364 billion over 10 years from the same taxpayers by raising the top two tax rates to 36%-39.6% from 33%-35%, plus another $105 billion by raising the tax on dividends and capital gains to 20% from 15%, and another $500 billion by capping and phasing...
  • New Health-Care Taxes Help Obama ‘Spread the Wealth’

    03/22/2010 12:47:56 PM PDT · by reaganaut1 · 11 replies · 870+ views
    Bloomberg | March 22, 2010 | Ryan J. Donmoyer
    No excerpt of Bloomberg allowed, story here .
  • Timeline of Tax Provisions in the House Health Care Bill

    03/21/2010 5:25:41 PM PDT · by reaganaut1 · 6 replies · 1,441+ views
    Tax Foundation ^ | March 21, 2010
    In order to finance $940 billion in new health care spending over the next ten years, the health care bill that the House of Represenatives is likely to pass this (Sunday) evening contains many spending cuts to Medicare, along with many tax increases that are set to go into effect over the next decade. Courtesy of the Joint Committee on Taxation's scoring of each of the provisions in the bill and the CBO, this Tax Foundation Fiscal Fact contains a timeline of when each of the tax provisions in the bill is set to go into effect. Some of the...
  • To Cut Debt, Obama Shifts on No Tax Vow

    02/11/2010 1:28:30 PM PST · by jessduntno · 39 replies · 1,197+ views
    NYT ^ | CALMES
    By JACKIE CALMES President Obama, still seeking to get Congressional Republicans to join in a bipartisan commission to reduce the federal debt, suggested he would be willing to break his campaign promise against raising taxes on households with less than $250,000 annual income. “The whole point of it is to make sure that all ideas are on the table,” the president said in the interview on Tuesday with Bloomberg BusinessWeek that the publication released online today. That included not only tax increases, he added, but also spending on the popular government health programs, Medicare and Medicaid, whose fast-growing costs are...
  • To Cut Debt, Obama Shifts on No Tax Vow

    02/11/2010 1:29:07 PM PST · by reaganaut1 · 12 replies · 882+ views
    New York Times ^ | February 11, 2010 | Jackie Calmes
    President Obama, still seeking to get Congressional Republicans to join in a bipartisan commission to reduce the federal debt, suggested he would be willing to break his campaign promise against raising taxes on households with less than $250,000 annual income. “The whole point of it is to make sure that all ideas are on the table,” the president said in the interview on Tuesday with Bloomberg BusinessWeek that the publication released online today. That included not only tax increases, he added, but also spending on the popular government health programs, Medicare and Medicaid, whose fast-growing costs are driving the projections...
  • Obama budget would impose host of tax increases

    02/01/2010 10:57:46 AM PST · by NormsRevenge · 14 replies · 719+ views
    AP on Breibart ^ | 2/1/10 | Stephen Ohlemacher - ap
    WASHINGTON (AP) - While President Barack Obama is proposing to cut some taxes for companies that hire workers, his budget would raise a host of other taxes on businesses and wealthy individuals. Obama's budget would extend his signature Making Work Pay tax credit—$400 for individuals, $800 for a couple filing jointly—through 2011. The administration released the budget Monday. But it would also impose nearly $1 trillion in higher taxes on couples making more than $250,000 and individuals making more than $200,000 by not renewing Bush-era tax cuts for them. Obama would extend tax cuts enacted under former President George W....
  • Keep The Cuts

    01/25/2010 5:31:21 PM PST · by Kaslin · 4 replies · 449+ views ^ | January 25, 2010 | INVESTORS BUSINESS DAILY Staff
    Taxes: On the eve of President Obama's first State of the Union address, two Democratic congressmen are advising him to extend the Bush tax cuts instead of letting them expire. Now that's a stimulus. We hear that the administration is considering taking a more populist tack as it sails the choppy political waters of 2010. Some of President Obama's plans reportedly include several tax tidbits for the "middle class," including a doubling of the child care tax credit for families below $85,000 in income, and $1.6 billion for child care and a cap on student loan payments. Such transparent populism...
  • Tax Increase for the Rich Is at Issue in Oregon (money already spent)

    01/23/2010 3:36:35 PM PST · by reaganaut1 · 11 replies · 812+ views
    New York Times ^ | January 23, 2010 | William Yardley
    ... On Tuesday, voters here and across Oregon will have the chance to make that happen when they decide the fate of two ballot measures that would raise taxes on higher-income residents and on businesses to help pay for public education and other services. Known as Measures 66 and 67, the votes are referendums on $727 million in tax and fee increases that were approved last year by the Democratic-controlled Legislature. ... Opponents say the proposals are the wrong fix at the wrong time. State income taxes for wealthier Oregon residents are already among the highest of any state. But...
  • U.S. Chamber warns of 'double-dip' recession because of Dem policies

    01/12/2010 2:32:03 PM PST · by maddog55 · 5 replies · 409+ views
    The Hill ^ | 01/12/10 09:44 AM ET | By Ian Swanson
    U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama. “Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. Donohue said the lawmakers should not let former President George W. Bush's tax cuts expire at the end of year and lambasted Democratic efforts on healthcare and financial regulatory reform as well as climate change. If the tax cuts are allowed to expire, “we will...