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  • Latest Bailout Paid for Only in Fantasyland

    The House of Representatives rushed back to Washington yesterday in the middle of their six-week vacation to pass yet another bailout. This latest one, $26 billion in total, temporarily saves state governments that have overspent for years from fixing their chronic budget problems. The newest bailout spends $10 billion for … More

    A Bipartisan Vote on the Obamacare Road to Repeal

    Tucked away in the legislation that made Obamacare into law is a tax provision that will be a compliance nightmare for small businesses if it ever goes into effect. The provision calls for all businesses to file 1099 forms with the IRS for all transactions with other businesses over $600. … More

    Pro-Growth Tax Cuts Always Create Jobs: MSNBC’s The Ed Show Misrepresents Heritage Position

    Congress has an important decision to make before the end of the year: Extend the 2001 and 2003 tax cuts or allow them to expire and significantly raise taxes. There is never a good time to raise taxes because higher taxes always come with a steep cost: slower economic growth, … More

    New Calculator Shows How Much More Taxes Will You Pay Next Year

    We are on the precipice of the largest tax increase in United States history. On January 1, 2011, the 2001/2003 tax relief will expire. All Americans who earn income will see their taxes go up as a result (even those who work but don’t pay any federal income taxes) unless … More

    The Economic Case Against the Death Tax

    After months of inactivity, the Senate could finally address the death tax in the coming days. It is about time it acted, because in a little over five months—January 1, 2011—the death tax will rise from 0 percent all the way to 55 percent. Proponents of the death tax make … More

    Senate Finally Moves on the Death Tax

    Almost seven full months into 2010, the Senate might finally get around to addressing the death tax. The death tax expired on January 1 of this year, but because of a quirk in the budgeting process it will rise from the ashes in 2011 with a punitive 55 percent rate … More

    Dangerous Death Tax Plan Offered in the Senate

    Senators Sanders (I-VT), Harkin (D-IA) and Whitehouse (D-RI) are circulating a bill that would drastically increase the death tax at the worst possible time: such a policy move would be a body blow to a weakly recovering economy and would clearly signal to everyone that this Congress has no intention … More

    New Extenders Bill Still Contains Irresponsible Spending

    The long-debated extenders bill failed to pass the Senate yesterday by a wide margin (45-52). That’s good new for taxpayers because the bill contained $48 billion in new taxes, $126 billion in new spending and added $79 billion to the national debt. Despite yesterday’s setback, Senate leaders are undeterred and … More

    New York Times Gets it Wrong on Death Tax

    In a front page article today, the New York Times has a story on the federal death tax and the impact its 2010 expiration has on a recently deceased billionaire. The article is riddled with errors, but the title of the article encapsulates perfectly the story’s biggest flaw: “Legacy for … More

    Now is the Worst Possible Time for Tax Hikes

    Friday brought yet another grim jobs report. The economy created 431,000 jobs in May according to the report, but 411,000 of them were temporary government jobs working on the Census. All those jobs will disappear when the Census is complete. The jobs report is the latest signal that the stimulus … More