TAX POLITIX
The Politics of Taxes
It’s Election Day!
Will the Republicans take the Senate? Election Day Links (to be updated periodically) Republicans sense power shift; Dems rev up damage control WASH POST: 97% CHANCE GOP TAKES SENATE CNN 95% NYT: 70% PAPER: Where did O go wrong? NYT: Irate Electorate... Most ads on Obamacare... WH Strategist: Dems Running from President 'Look Like Chickensh*t'... Guide to What to Watch for on Election Night... Harry Reid's fateful evening... 30 year old Republican set to be youngest congresswoman in...
US Ranked 10th in Prosperity Index
The Legatum Institute's 2014 Prosperity Index scored Norway as the most prosperous country in the world, with the United States ranked as the 10th. 142 countries that are ranked in the Index. Central Africa Republic is the least prosperous There are eight factors that go into the ranking. They are: Economy Entrepreneurship Governance Education Personal freedom Health Security Social capital The Legatum Institute has released the Prosperity Index for seven years. The top ten this year are: 1...
2015 State Rankings By Taxes
The Tax Foundation released its yearly State Business Tax Climate Index. This index measures the impact of taxes on business activities by looking at how much the citizen is taxed and also the amount of compliance. Five taxes are considered: 1) individual; 2) corporate; 3) sales; 4) property; 5) unemployment insurance. Wyoming lead the states in growth, with a GDP gain of 7.6%. At the bottom, predictably, are New York (49th) and New Jersey (50th). New Jersey saw GDP growth of only 1.1% last...
Thomas Perez, the “Disparate Impact” Crusader
The idea of “disparate impact” is an abomination that has taken root in the business world and is being pushed into other sectors as well, such as housing and labor. This idea holds that "a defendant can be held liable for discrimination for a race-neutral policy that statistically disadvantages a specific minority group even if that negative “impact” was neither foreseen nor intended. In such cases, defendants can be forced to pay for harm caused not by their own actions, but by economic and...
Why the Whole “Shipping Jobs Overseas” Attack is Disingenuous
Businesses are constantly make decisions about where its people need to be do their jobs. They follow the incentives to be the best company, to manufacture their product in the strongest and least intrusive way. Oftentimes that means, at some point, part of their operation moves abroad. Opening up new foreign markets doesn’t lose jobs. Relocating work overseas typically is a reaction to proximity to supply chains, developing interests in new consumer markets, and keeping costs low for...
Thomas Perez Called For “Shared Prosperity” 20 Times in Speech
Thomas Perez was Obama's Labor Secretary pick 15 months ago, and he's emerging as top contender for Attorney General as well. Is it any wonder that he gave a major speech at the National Press Club this week to share his vision of America? Entitled, "Calling for an Economy That Works for Everyone", Perez discusses the concept of "shared prosperity". How many times did he use that phrasing? Try 20 times. These phrases were bold in the speech: *"An economy that works for everyone is one where...
Michelle Nunn Doesn’t Understand Basic Economics
Michelle Nunn has been getting a lot of traction on the “shipping jobs overseas” rhetoric in an effort to paint her opponent, David Purdue, as unsympathetic to American workers. It’s a tactic toward anyone who is in business to demagogue them for shipping jobs overseas, just like they did to Romney in 2012. Michelle’s cheap shots have lead her to create an ad campaign specifically focused on this narrative. Hours of countless searching has turned up a deposition from 2005, during which David...
Democrats Peddle More Educational Entitlement, Not Enterprise
During a speech at UNLV this week, Hillary Clinton discussed higher education and her opinion that "more needs to be done to assure young people can achieve their dreams and free students from debt." While making higher education more affordable is certainly a worthwhile endeavor, the means by which the Democrats have made changes -- and continue to push for more change -- to the student loan system will cause even higher tuition costs, unsustainable taxpayer debt, and create another rail of...
How Has Liberia’s President Responded to Ebola? By Taking Extra Powers
Last week on October 7, it was reported that Liberia's President, Ellen Johnson Sirleaf, asked for more emergency powers to help contain and prevent the current Ebola crisis. Liberia is already under a state of emergency and curfew, which began in August. But according to VOA News: "In a letter to the Plenary of the House of Representatives and the Senate, Sirleaf asked for powers to amend seven different articles under the constitution, including freedom of movement, speech, religion,...
Feds Tax Haul Tops $3 Trillion
This Washington Times piece did a nice overview of FY2014: The Treasury Department unveiled its Fiscal Year 2014 numbers, which showed that the government's revenue, for the first time ever, hit the $3 trillion mark. However, the government still overspent its revenues, leaving a $483 billion deficit. Supporters of President Obama are touting the "success" of a $483 billion deficit by pointing out its the lowest deficit since 2008. A "mere" $483 billion deficit is not something to be...
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