One of the many false talking points of the Obama administration is that a rich man like Warren Buffett should not be paying a lower tax rate than his secretary. But anyone whose earnings come from capital gains usually pays a lower tax rate.
With the election coming up, many people believe that the stakes for our country are as big as they have ever been.
Every new datum on economic stagnation -- such as Thursday's Labor Department announcement that unemployment claims remain at a three-month high -- increases the temptation to compare the 2012 presidential race to 1980's.
If a store in town has to collect the sales tax, so should online companies.
No matter who the nominee becomes, if we can elect a Republican replacement for Barack Obama, America will have a rare opportunity to clean up one of its biggest messes.
Herman Cain has recently shot up in the GOP polls, demonstrating that he could be a threat to President Obama in the general election. With such positioning however, comes increased scrutiny. To that cause, critics have chosen the centerpiece of Cain's message as their attack point: the 999 Tax Plan.
Rep. Paul Ryan gives the plan a thumbs-up. Supply-side mentor Art Laffer tells me it would be "far, far better than the current system." And Chris Chocola, president of the free-market Club for Growth, calls it "a truly revolutionary tax reform that would amount to a massive job-creating tax cut on investments, savings and income."
Remember stop, look and listen before you cross the street? Follow this cautionary tale before you swallow the balanced budget language of Presidential candidate and former Governor of New Mexico Gary Johnson and the 9-9-9 tax system of former CEO Herman Cain. Simple slogans can be dangerous.
The government can create more jobs with flat taxes, low regulation, and by simply staying out of the way. As President Reagan said, the worst words you could hear are, “I am from the government and I am here to help.”
Four years ago the Fair Tax movement helped power Mike Huckabee to a win in the Iowa caucuses. The former Arkansas governor embraced the scheme and all of its absurd assumptions –the Constitution could be amended to repeal the 17thAmendment, senior citizens wouldn’t mind having many of their assets devalued overnight etc—and reaped the political benefits.
“I’m willing to tell Americans the hard truth,” says Pawlenty. “And I believe Americans are ready to hear it. But the truth about our economy isn’t hard at all. Markets work. Barack Obama’s central planning doesn’t."
Last week, I attended a Georgia Public Policy Foundation lunch featuring Arthur Brooks, president of American Enterprise Institute. Arthur and I met a few years ago in Atlanta after he gave a speech based on his 2006 book, "Who Really Cares: The Surprising Truth About Compassionate Conservatism."
Since Friday for me- at least this week- is the new Saturday, here’s a bonus edition of Email, Hate Mail and Comments from Readers. And thanks for doing the hard work of freedom.
Teatime, anyone? I hope you've joined one of the thousands of TEA (Taxed Enough Already) parties or FairTax rallies, which are happening across the country April 15 to protest outrageous government spending.
Seven important questions that must be asked about the Fair Tax when considering the proposal seriously.