We’ve all heard about the “fiscal cliff.” But what does it mean? The media won’t bother to explain it in any detail, and people aren’t looking it up on their own.
The conventional wisdom has emerged that in order to avoid the so-called "fiscal cliff," politicians in Washington must agree to some method of tax increases ("revenue") -- which will be real, even if low taxes are not the cause of our ills -- alongside some kind of promise of spending restraint on entitlement programs, which is our problem, and which no one believes Washington will restrain.
Check out his response to Matt Lauer's question: Would raising taxes on the wealthiest Americans have a chilling effect on hiring in this country?
I’m amazed that anyone believes Obama isn’t going to tax the middle class as well. The simple reality is that there aren’t enough rich people to finance big government.
<p>And so it begins, like clockwork.</p><p>After an election defeat of significant proportions for the "truce strategy," GOP elites appear prepared to double-down on kicking out the social issues.
In June, a diffident and self-deluded President Obama claimed that "the private sector is doing fine." Last week, the private sector responded: Speak for yourself, buster.
Joe Biden says that he wants to level the playing field. All's he really done is level the middle class.
During last week's presidential debate, Mitt Romney repeatedly promised to "lower taxes on middle-income families" without reducing "the share paid by high-income individuals." But this combination will prove difficult, if not impossible, for the Republican candidate to deliver given the other elements of his tax reform plan -- especially his illogical definition of "middle-income families."
The worst gaffe a politician can make, it's been said, is not the mistakes he makes on the campaign trail but when he tells the truth. The vice president of the United States, who's a kind of genius at embarrassing himself, did it again the other day when, almost in passing, he mentioned the hallmark of this president's stewardship of the American economy, "the middle class that has been buried these past four years."
Obama made his no-new-taxes pledge over and over again four years ago as he campaigned. Not only has he repeatedly and blatantly violated it, but his policies have relentlessly assaulted poor and middle-income family budgets.
President Obama's entire campaign strategy is based on an age-old political trick that he can overcome his weakness on the economy by changing the subject.
Yet again, the President's policies violate his repeated promise to not raise taxes of any kind on individuals earning less than $200,000 per year or couples below $250,000.
Maybe Democrats have some slick salesmen, like Bill Clinton and our current president, who can sell you swampland and have you convinced that you’ve bought choice beachfront property.
Due to ZIRP (zero interest rate policy), seniors, retirees, and pretty much any recipient of fixed income were forced to take risks never before contemplated.
Bloomberg Television breaks down the numbers.
A question for the rich: if President Obama successfully breaks the backs of the working middle class, is that really good for you?
President Barack Obama last week visited Palm Beach Gardens, Fla. -- a small city of 15 golf courses -- so he could preach to some of his humble campaign contributors his vision of American frugality.
European politicians have learned that there’s a limit to the amount of revenue that can be obtained by taxing the rich. In part, this is because there aren’t enough rich people to finance a bloated public sector.
Rising inequality "is the defining issue of our time," said President Obama in his Osawatomie speech that echoed the "New Nationalism" address Theodore Roosevelt delivered in that same Kansas town a century ago.