TAX POLITIX
The Politics of Taxes
Bailout Nonsense
As Obama keeps pushing his (non) jobs bill that looks like another stimulus package, I'm tired of hearing that the bailouts worked. One of the amazing non-stories in the country is that when the bailouts occurred, what the government was doing was taking those companies and their employees who were totally solvant (ie Ford, Chrysler, etc) and rewarding their achievement by having their competitor bailed out (GM). If there has ever been unfair competition in this country, it was then. Those...
Striking Workers, Striking Policy
It may not be well known, but in New York, strikers – like the Verizon ones – are able to collect unemployment insurance while striking.It's about time we expose the audacity of union employees collecting benefits during their time of voluntary unemployment. It is unconscionable that pro-union policies allow their members to deplete the state unemployment coffers into which hard working employers contribute for their employees. The present job environment is quite disparaging. With 9.2%...
Obama’s (non) Tax Cuts
This past week, the Washington Post provided a sliver of clarity when Glen Kessler, “The Fact Checker” , exposed Obama’s dubious tax cut claims. While he should be commended for issuing four pinocchios for Obama’s untruths, he completely missed the biggest lie of them all. What Obama (and Mr. Kessler) call tax cuts are not. As a lifelong CPA, I can assure you that tax cuts are a specific term, meaning cuts to the marginal tax rate. The package that Obama passed after he took office contained...
Wayne Crews & Obama’s Speech
A very good friend of mine, Wayne Crews, penned this great piece last night for Forbes after Obama's speech. Crews is the VP of Policy for CEI. Below is his article in its entirety: Nice Talk. When's the Jobs Speech? Hauling the United States Senate and a reluctant House together to listen to you on NFL kickoff night–when it’s not even State of the Union season besides–represents a magnificent triumph of community organizing. I listened in, but missed that bit about how jobs will actually be...
ATR: List of Tax Hikes
To coincide with Obama's jobs re-election speech this evening, Americans for Tax Reform has done a nice job putting together a list of Obama's tax hikes since he took office. ATR usually has a good amount of information regarding taxes on their site. I have reproduced the list in its entirety, because it is chock-full of good information. Comprehensive List of Obama Tax Hikes Which one of these tax hikes will destroy the most jobs? (Get your Obama Big Speech Bingo cards here) Since...
Duncan Hunter Misses It On Missing Businesses
In an Op-Ed to the Washington Times last week (Stop Exporting American Jobs 8/23/11) Rep. Duncan Hunter assiduously notes that very little is being said about jobs moving overseas but he fails to point out the obvious reason why: our government policies are the driving force behind the mass exodus of businesses abroad. A staggering increase in regulations coupled with the the highest corporate tax rate among industrial nations form the foundation of a very anti-business climate in our current...
Thomas Sowell: An Unusual Economy?
Thomas Sowell is undeniably one of the most influential economists of our day. Below is his latest article, discussing the reasons why the economy, business, and labor markets remain sluggish --uncertainty due to Obama's policies. I have written on this topic before, but Sowell's essay is definitely worth reading. You can find it on Real Clear Politics, but I have reproduced it below: Many in the media are saying how unusual it is for our economy to be so sluggish for so long, after we have...
Bill Gates Strikes Out
It appears that Bill Gates is going the way of Phil Rizzuto and Ralph Kiner. For those of us old enough to remember, both Rizzuto and Kiner were the absolute pinnacle of professional baseball. They went on to become Baseball Hall of Famers and are regarded as two of the best baseball players of all time.Each then embarked on a subsequent career as a sports announcer – second-rate at best – for many years. Unfortunately, they'll both be remembered for their longer period of broadcaster...
NY Pension System Problems
The New York pension system is out of control. In addition to the extravagant, irresponsible and under-reported negotiated levels of benefits, there is an additional characteristic of the system that is never talked about. There is a huge break that goes to New York retirees; anyone who gets a retirement pension from New York State, or any locality or agency (teacher, firefighter, etc) pays no city or state income tax on that pension money. This hearkens back to the days when New York...
Larry Reed: Seven Principles of Sound Policy
My good friend Larry Reed over at the Foundation for Economic Education (FEE) has an old speech that is a "must read" for anyone who cares about a free economy. Below, I list his seven principles, but I urge you to follow the link at the end and read the piece in its entirety. These are good common-sense gems, but Larry elucidates them wonderfully. 1. Free people are not equal and equal people are not free 2. What belongs to you, you tend to take care of; what belongs to no one or everyone...
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