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Chairman Obamao went to the Rose Garden the other day to announce his tax plan to pay for his jobs bill that is already paid for. He wants to . . . wait for it . . . raise taxes on the rich! What a surprise! Of course, the cost of those taxes would then be passed along to the rest of us in the form of higher prices, jobs lost, etc. The real problem is the spending, things like . . . his jobs bill. But we're coming up on election season, and so the Panderer-in-Chief has to...

WASHINGTON -- It is clear from the way President Barack Obama has been talking about the federal budget recently, and about taxation since he came to office, that all the money that Americans earn belongs to the federal government. The key words in this conversation are "tax expenditures." Obama has lost a lot in tax expenditures, and he wants more of those tax expenditures back. He can spend that money, he believes, more wisely than the citizenry -- that is to say, you and me. He has wiggled and wobbled on the nation's finances over the years. First, he spent...

Pundits dismissed the president’s jobs and deficit reduction proposals as political grandstanding, but the American people appear to approve of many of the president’s ideas, according to a Gallup poll released today.The survey of 1,004 adults — only about 44 percent of whom were Republicans or Republican-leaning independents — showed significant majorities support a majority of the individual components of the president’s plan.For example, 70 percent favor increasing taxes on some corporations by eliminating certain tax deductions and 66 percent favor increasing income taxes on individuals earning at least $200,000 and families earning at least $250,000.The first part of that...

On all the cables whenever His Majesty deigns to bless us with his presence.The topic is his latest plan to bash Republicans over the economy while actually doing nothing to help the economy.

President Obama will be using taxpayer dollars to do what is effectively a campaign event tomorrow in North Carolina, not coincidentally a place which many consider to be a must-win state for him in next year’s election. While in the Tar Heel State, President Obama will be touting his new "Jobs Act," which entails another round of “stimulus, but don’t call it stimulus” spending in excess of $400 billion, mostly funded by tax increases. In a recent column in The Daily, the NRO’s Reihan Salam laid out some good reasons as to why Obama’s new proposal, in addition to being...

Washington -- Ending tax breaks for oil, corporate jets and hedge fund managers is nearly every Democrat's favorite way to reduce the federal debt. But one of the biggest tax breaks of all is heavily skewed to wealthy residents of San Francisco, San Jose and California's other upscale coastal cities. It's the mortgage interest deduction, and its benefits are heavily concentrated in a handful of pricey cities, none of which votes Republican. As the new super committee of Congress sets about finding another $1.5 trillion in deficit reduction by Thanksgiving, tax breaks of all kinds, including the interest deduction, are...

C’mon, IRS. “Stop coddling the super rich.” Contrive to successfully extract the taxes they already owe.Mr. Buffett, I barely want to waste my breath on your blatant hypocrisy.And, Mainstream Media (by which I mean the NYT, which ran Buffett’s obnoxious op-ed in the first place), WHERE ARE YOU?From NewsMax: Billionaire investor Warren Buffett triggered a major debate over taxes recently when he wrote in The New York Times that he should be paying more to the federal government. He called on Washington lawmakers to up tax rates on the rich.But it turns out that Buffett’s own company, Berkshire Hathaway, has...

With states facing nearly $100 billion in combined budget deficits this year, we're seeing more governors than ever proposing the Barack Obama solution to balancing the budget: Soak the rich. Lawmakers in California, Connecticut, Delaware, Illinois, Minnesota, New Jersey, New York and Oregon want to raise income tax rates on the top 1% or 2% or 5% of their citizens. New Illinois Gov. Patrick Quinn wants a 50% increase in the income tax rate on the wealthy because this is the "fair" way to close his state's gaping deficit. Mr. Quinn and other tax-raising governors have been emboldened by recent...

Billionaire Warren Buffett may not seem to have much in common with angry laborers at town hall meetings or armies of California nurses protesting in the streets. But these days, the executive celebrity in his boardroom and working folks on the front lines have found a common mantra as the economy continues to sputter and the 2012 election approaches: "Tax the rich." They are joining Democratic politicians, such as U.S. Sen. Barbara Boxer of California, who pounded the issue of making "millionaires and billionaires pay their fair share" nearly a dozen times at a recent event in Oakland.The calls have...

Thanks to Illinois governor Pat Quinn and the Illinois legislature Illinois Loses Most Jobs in the Nation. In a trend that continues to worsen, more Illinoisans found themselves unemployed in the month of July. Illinois lost more jobs during the month of July than any other state in the nation. ... When it comes to putting people back to work, Illinois is going backwards. Since January, Illinois has dropped 89,000 people from its employment rolls. A combination of high taxes, overspending and red tape do nothing but chase away job creators and leave too many citizens without jobs. Springfield needs...

Two weeks ago, when billionaire Warren Buffett called for higher taxes on rich people like him, the liberal media predictably gushed and fawned. Yet when Americans for Better Government revealed last week that Buffett's company Berkshire Hathaway has been in an almost decade-long dispute with the IRS over how much taxes it owes, these same press members couldn't care less: According to Berkshire Hathaway’s own annual report — see Note 15 on pp. 54-56 — the company has been in a years-long dispute over its federal tax bills. According to the report, “We anticipate that we will resolve all adjustments...

For as long as I can remember, allegations and accusations about taxes and the rich and the poor have been a part of every election--well, except the current 2006 election which has not substantively addressed any issue other than Republicans prodding voters to "stay the course" and Democrats prodding voters to vote against Bush. But in a normal election, Democrats inevitably accuse Republicans of promoting tax cuts that benefit primarily the rich, and the slogan "The rich got richer while the poor got poorer" is something that no election can go without. The same arguments are made election after election, so when someone recently...

IT HAS BEEN a little over a week since billionaire Warren Buffett called for higher taxes on the richest Americans, and now comes the reaction. Harvey Golub, a former chairman and chief executive of American Express, writes in the Wall Street Journal that he “resents” Mr. Buffett’s suggestion. I already pay plenty of taxes, Mr. Golub asserts, adding: “Before you ‘ask’ for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely.” Who’s right? Mr. Golub points out that almost half of the population pays no income...

The Obamas' summer break in Martha's Vineyard has already been branded a PR disaster after the couple arrived four hours apart on separate government jets. But according to new reports, this is the least of their extravagances. White House sources today claimed that the First Lady has spent $10million of U.S. taxpayers' money on vacations alone in the past year. Branding her 'disgusting' and 'a vacation junkie', they say the 47-year-old mother-of-two has been indulging in five-star hotels, where she splashes out on expensive massages and alcohol. The 'top source' told the National Enquirer: 'It's disgusting. Michelle is taking advantage...

There are fewer millionaires in America today – can you hear the celebration at the Blue Heron farm on Martha’s Vineyard where the Obama family is spending someone’s millions? Obama at Blue Heron Farm - 2009 Pullout quote: For the past three decades, the political left has obsessed about income inequality. As the economy experienced one of the largest and lengthiest economic booms in history from 1982-2007, the left moaned that the gains went to yacht club members. Well, if equality of income is the priority, liberals should be thrilled with the last four years. Wall Street Journal (great article...

Billionaire Warren Buffett urged lawmakers to raise taxes on the country's super-rich to help cut the budget deficit, saying such a move will not hurt investments. "My friends and I have been coddled long enough by a billionaire-friendly Congress. It's time for our government to get serious about shared sacrifice," The 80-year-old "Oracle of Omaha" wrote in an opinion article in The New York Times. Buffett, one of the world's richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744. "That sounds like a lot of money. But what I paid...

Further: 'I will work hard to protect entitlements... the only problem with the Reid Senate is that we didn't keep a fillibuster-proof majority... " Yeah. The Super Committee is gonna work. /S

Most Americans want a special congressional committee tasked with drafting a long-term solution to the nation's mounting federal deficits to include tax hikes for the wealthy and businesses and deep cuts in domestic spending, according to a new national survey. A CNN/ORC International Poll released Wednesday also indicates that the public doesn't want the super committee to propose major changes to Social Security and Medicare or increase taxes on middle class and lower-income Americans. Under the debt ceiling deal passed by Congress and signed by President Barack Obama last week, a panel of 12 legislators - six Democrats and six...

Liberals outline stimulus agenda in 'Contract for the American Dream' By Erik Wasson - 08/09/11 10:57 AM ET Liberal organizations and unions are frustrated that President Obama has not aggressively pushed a new jobs stimulus agenda and they are offering up a consolidated fall agenda for Democrats to embrace as an alternative to austerity. Representatives of MoveOn, Rebuild the Dream and the Center for Economic Policy and Research will join Rep. Jan Schakowsky (D-Ill.) on Tuesday to launch a progressive “Contract for the American Dream” to urge the administration and Congress to turn away from budget cutting and focus on...

“No risk,” Geithner told Fox Business at the time. When asked whether S&P was wrong and that the U.S. would keep its top credit rating, Geithner said, “Absolutely”... Sen. Jim DeMint, R-S.C. said the president should “demand” that Geithner resign “and immediately replace him with someone who will help Washington focus on balancing our budget and allowing the private sector to create jobs.” “For months he opposed all efforts to reduce the debt in return for a debt ceiling increase,” DeMint said. “His opposition to serious spending and debt reforms has been reckless and now the American people will pay...