TAX POLITIX
The Politics of Taxes
Are We Being Set Up (For More Taxes?)
Picture the all-too-familiar scenario: it's nearing a fiscal decision deadline. Congress is deadlocked over action -- in this case, it's Sequestration (large budget cuts). It's possible that there will there will be no decision on Sequestration by March 1, because deadlines mean nothing in Congress – as we just witnessed with the Fiscal Cliff debates running over the edge. Or are we being set up for more taxes? I'm getting a little nervous about the media dribble from the last couple of days....
Woodward Confirms Sequestration was Obama’s & Obama “Moved Goalposts”
Yesterday, I wrote about Obama's 180 degree turn from proposing the sequestration cuts and vowing to veto to keep them, to blaming Congress during the Presidential debates, to currently blaming Republicans for sequestration.
Politifact and WaPo Claim Sequestration was Obama’s; Obama Once Vowed Veto to Keep It
Is anyone else getting a little bit tired of the President of the United States continuing to blame Republicans for sequestration? Time for some flashback --
Minimum Wage Fallacies
During the State of the Union last week, Obama issued a call to raise the minimum wage once again. He cried forth, “Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9.00 an hour”. What he fails to comprehend or deliberately ignores is that the impact of such a policy on small businesses -- the backbone of our economy -- would be devastating. Higher wages inhibits a business's ability...
State of the Union — Read Between the Lines
Here's a rundown of the top Obama lines from the State of the Union, along with the appropriate responses: "After years of grueling recession, our businesses have created over six million new jobs" -- Mainly for the government and IRS
The Insanity of Additional Government Spending
The idea that government spending is necessary in order to keep an economy going is a Keynesian theory that hasn't proven worthwhile in the last four years. At the same time, business growth has been sluggish to non-existence because of – not in spite of – current government policy.
Benedict XVI and Prophecy of Malachy
This morning comes the news that Pope Benedict XVI is resigning at the end of the month. This unexpected event brings to mind the controversial Prophecy of Malachy, who is purported to have detailed the line of Popes until the end. With Benedict's resignation, if Malachy's prophecy is to be believed, his successor is to be... the last Pope.
Obama Calls For New Revenue & New Spending Cuts — Bring Back Simpson-Bowles?
Perhaps the Republicans need to revive the bipartisan Simpson-Bowles package as their Republican bargaining strategy over the next few months since it contains the very things Obama is now calling for. Just before the Superbowl, Obama conducted a CBS interview. During that discussion, Obama claimed that “There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” he said. “I don’t think the issue right now is raising...
Blame You Can Believe In
We heard the unexpected news that the economy contracted for the first time in three years. For all the pundits who claimed that spending our way out of recession was the answer to our economic recovery, it hasn't proved worthwhile. However, instead of acknowledging failed policy, the Left resorted to more blame and outright ignorance.
The (Mythical) 91% Tax Revenue Booster
There is a persistent idea circulating that the current tax margins are really not all that high when compared to past rates. This line of thought is typically used as justifications that 1) the government deserves more revenue and 2) the wealthy taxpayers can afford higher taxes. The truth, however, is that obtusely higher rates in the past were rarely ever paid at that amount because they were easily offset by abundant tax deductions universally used by the wealthy.
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