In the debate about raising the debt ceiling, the reality is often lost that the top 10 percent of income earners—those making more than $113,799 in 2008 (the latest year available from the IRS)—already pay 69.9 percent of the income taxes. The same top 10 percent, however, earn only 45.8 percent of the income. The IRS also reports that in 2008, the top 25 percent of income earners—those earning $67,280 or more—pay 86.34 percent of the income taxes, yet earn only 67.38 percent of all income in the U.S. (See …
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Addicted to subsidies – Derek Scissors Health-care legislation will take millions off the tax rolls – Brian Blase & Paul Winfree Tax hikes not needed to balance budget – Curtis Dubay Budget Danger Ahead: How Republicans could get snookered again – James C. Capretta EPA stimulating environmental regulations abroad – John Rossomando Energy Clarity 101 – Mark Green E.P.A. Chief Stands Firm as Tough Rules Loom – John M. Broder Small …
In a recent issue of Time, Joe Klein acknowledges the ignored reality that national-scale programs based on effective pilot programs frequently do not yield the same successful results. His case in point is Head Start—a “Great Society” pre-school program intended to provide a boost to disadvantaged children before they enter elementary school. Head Start was based on a few pilot programs, such as the Perry Preschool program, that were believed to be effective. Advocates asserted that a national preschool program for disadvantaged children would yield the same positive results. However, …
During his Twitter Town Hall yesterday, President Obama vastly underestimated the size of the bloated Department of Education budget. The nice thing about the defense budget is it’s so big, it’s so huge, that, you know, a 1 percent reduction is the equivalent of the education budget. I’m exaggerating. But it’s so big that you can make relatively modest changes to defense that end up giving you a lot of headroom to fund things like basic research or student loans or things like that. That’s a pretty gross exaggeration. A …
President Obama made history yesterday by becoming the first President to tweet live at a nationally televised event. But does one tweet – or even a complete Twitter townhall — mean the President is truly communicating openly and fairly with the American public? The Twitter Townhall hosted by Twitter and the White House yesterday was a botched attempt to suggest that President Obama is truly reaching out to everyday Americans on their level. Judging by the small selection of questions — one of which came from Speaker John Boehner (R-OH), …
In yesterday’s “Twitter Town Hall,” President Barack Obama demonstrated yet again his failure to understand the size of the defense budget—as well as his desire to slash it in order to fund domestic spending. Here’s how the President described it: [T]he nice thing about the defense budget is it’s so big, it’s so huge, that a 1 percent reduction is the equivalent of the education budget. Not—I’m exaggerating, but it’s so big that you can make relatively modest changes to defense that end up giving you a lot of head …
Typically when someone buys something, that person receives some good or service in return. That’s not always the case when it comes to the federal government. The Department of Interior failed to issue leases after several oil and gas companies purchased them from the Bureau of Land Management. Consequently, the six companies that won and bought the leases and Western Energy Alliance, which represents more than 400 independent natural gas and oil producers, sued the government. They earned a partial victory last week when a federal judge in Wyoming ordered …
Sen. Ron Johnson (R-WI) today predicted lawmakers would take President Obama to court if he deemed the debt ceiling is unconstitutional under the 14th Amendment. Liberals have floated the desperate and devious ploy in recent days to avoid spending cuts demanded by conservatives. “If the president decides to do that — and that would be his decision and his alone — our only option at that point would probably be to take him to court,” Johnson said this morning on a call with reporters and bloggers. “If he does it, …
The efforts of House Ways and Means Committee chairman Dave Camp (R–MI) to implement long-overdue trade agreements with Colombia, Panama, and South Korea may soon pay off, providing a much-needed boost to the stagnant U.S. economy. Camp has rebuffed demands from the Obama Administration and Senate Finance Committee chairman Max Baucus that the U.S.–South Korea Free Trade Agreement include an expanded Trade Adjustment Assistance (TAA) program. It is not insignificant that Camp is willing to move the trade agreements forward independently from a TAA program that he supports. Offering to …
First the Obama Justice Department defended the Defense of Marriage Act (“DOMA,” which defines marriage as between a man and a woman for the purposes of federal law, and clarifies that no state has to recognize a homosexual marriage from another state) in federal lawsuits. Well actually, it did such a bad job of defending the lawsuits that even supporters of gay marriage acknowledged that the Justice Department’s non-defense of DOMA bordered on collusive litigation, concluding that the “DOJ’s faint-hearted advocacy is no way to run a legal system.” It could …
