Everyone remembers President Obama’s now-infamous comment as a candidate that he thinks everyone is better when we “spread the wealth around.” Of course, we spread plenty of wealth around through the tax code before Obama became President. In 2006, the latest year of available data, the top 20 percent of …
The Congressional Budget Office (CBO) recently released a paper: Did the 2008 Tax Rebates Stimulate Short-term Growth? The paper is a comprehensive summary of the best recent literature on the topic. CBO sorts the literature into three categories: Studies that used detailed data about individual spending to study the effects …
The Obama Administration’s desperation for new revenue to feed its massive spending appetite is becoming more apparent every day. The latest tax hike proposal, this time from the IRS, is to tax 25 percent of the value of employer-provided cell phones or Blackberries. The rationale is that workers use employer-provided phones …
Senator Johnny Isakson (R-GA) reintroduced his plan today to create a $15,000 tax credit for homebuyers purchasing primary residences. The goal of the plan is to jumpstart the depressed real estate market. But as we pointed out last year when Senator Isakson introduced a similar bill, it will not work …
Massive increases of spending by the Obama Administration, from the stimulus to its proposed budget, have created historically unprecedented large deficits that will push the nation’s debt level to unsustainable levels. It was only a matter of time before the proponents of big government began their push to substantially increase …
