The final kicker is that the bureaucrats at the OECD get tax-free salaries, so they’re insulated from the negative impact of the bad policies they want to impose on everyone else.
The Washington, D.C.-based Tax Foundation does a yeoman's job of keeping track of how much we're paying in taxes and who's paying what. It turns out that American taxpayers worked this year from Jan. 1 to April 17, 107 days, to earn enough money to pay their federal, state and local tax bills. That statistic requires some clarification, and I ask my readers to help me examine it.
“Government is killing small business,” said Bob Bertsch, who closed his longtime construction business in Washington State and auctioned off his assets. The problems: taxes and overburdensome regulations. I know what he’s talking about—and so do too many Americans.
At the Heritage Foundation last week, House Budget Committee Chairman Paul Ryan demonstrated why he doesn't need to be running for President to be framing the debate for 2012. He delivered there on October 26 a breathtakingly beautiful speech on Saving the American Idea, which defines the Spirit of 2012.
It’s about time the rich started paying their fair share, according to the “Occupy Wall Street” protesters. Those fat cats aren’t chipping in as much as the less fortunate. When are they going to start spreading their wealth around?
Considered in isolation, payroll tax cuts in the jobs bill look like a crass political stunt: reducing revenues by $240 billion next year and then magically disappearing right after the November elections.
As part of his plan to fund the American Jobs Act, President Obama is once again seeking to raise the tax rate and decrease the charitable deduction for the people who form the backbone of charitable giving in America.
Barack Obama wants the rich to pay more taxes. Since the days of Ronald Reagan, says the president, Republicans have been protecting the rich at every opportunity — shielding them from the obligation to pay their fair share.
What if Barack Obama had begun his presidency by enacting a permanent tax cut that further lowered income tax rates, cut the capital gains rate in half and reduced business taxes across the board?
If the President really wants to be watchdog of moral correctness, someone should remind him that the most enduring moral code in human history also requires truthfulness.
The finger wagger in chief, in too many ways to count, has permanently forfeited his moral authority.
Pause a moment on the Buffett Rule. Almost all of Warren Buffett’s income comes from capital gains taxed at 15 percent. He only pays himself $100,000 a year, which would be taxed at the top rate. Most of his wealth is untaxed as unrealized capital gains. So his effective income-tax rate is lower than his secretary’s.
Eric Cantor plans to go on offense for job creation when the House convenes for business after Labor Day. In a memo to Republican members yesterday, Majority Leader Cantor outlined a strategy to reduce the tax burden on small business owners and repeal ten regulations that increase cost and stifle job creation.
Mr. Buffett is rich enough to be a Democrat. It won’t alter his lifestyle one bit if we made the marginal tax rate 100%. He’s got his. Imagine how much more arduous his climb to the top would have been back in the 1960's if we targeted him for tax increases.
The American economy, for some inexplicable reason, has been pushed to the sidelines in the fierce debate over a fiscal crisis that threatens to shut down much of the government.
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