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  • Morning Bell: How Tax Day Became Payday

    For just over half of all Americans today is Tax Day. But for the other half it is just another day on the calendar. That’s because they pay no federal income taxes. The old saying goes “you can’t get something for nothing.” But these “non-payers” receive government services and benefits … More

    Fairness is in the Eye of the Beholder Vice President Biden

    In a recent interview with Yahoo Finance, Vice President Joe Biden said the following: “the top 1 percent of earners get 22 percent of all income made in the U.S. Taxes have been lowered for the wealthy considerably over the years. It’s about time we get a little tax equity … More

    Government Dependency Grows As "Non-paying" Taxpayers Hits Record Level

    The Tax Foundation recently released its annual report on the number of tax returns filed that have no tax liability, and the study shows a record number of “nonpayers” in 2008. Taxpayers become “non-payers” when credits and deductions wipe out any income tax they owe. According to the Tax Foundation … More

    JCT Says Obama Health Plan is a $414 Billion Tax Hike

    President Obama keeps rolling out the tax hikes. In his budget released earlier this month, excluding the tax hikes he assumed to pay for health care, he called for $1.3 trillion in higher taxes over the next decade. Now in his recently released health reform plan, he calls for even … More

    Obama’s Health Plan - Taxes, Taxes Everywhere

    The White House recently released President Obama’s health care reform proposal. The plan incorporates a mixture of the many tax increases passed by the House and Senate, hiking taxes by almost $750 billion over ten years. This is on top of $1.3 trillion in other tax increases the President recently … More

    Obama’s Health Plan Has Dangerous New Taxes

    The health care plan President Obama recently released is mostly a combination of the different plans passed by the House of Representatives and the Senate. But in one major way it breaks with long-standing precedent, proposing a fundamental wrong-headed change to both entitlement policy and tax policy. He proposes for … More

    Another Special Interest Gets Sweetheart Deal in Health Care Bill

    After a long-week of negotiations, unions have won an exemption from the excise tax on high-cost “Cadillac” health insurance plans. The excise tax would fall on health insurance plans that cost more than $8,500 for individuals and $23,00 for families (the union deal reportedly slightly increases these thresholds) starting in … More

    Applying Payroll Tax to Investments Will Slow Recovery and Hurt Seniors

    The House and Senate are working to reconcile their differing health care reform bills into one final bill. Tax increases remain a stubborn sticking point. The House prefers a surtax on high-earners and the Senate an excise tax on so-called “Cadillac” health insurance plans that cost over $8,500 for individuals … More

    Stock Transaction Tax: Yet another Tax Increase

    Congress is discussing yet another tax increase. This one would be a tax on stock transactions and could fund a new jobs bill since it has become apparent to everyone that the stimulus failed to create any jobs on net. This was underscored again when the Labor Department reported Friday … More

    Congress Considers Steep Death Tax Increase

    Leaders in the House of Representatives recently discussed the possibility of extending the death tax at its current rate and exemption levels for one year through 2010. If this proposal becomes law it would be a massive tax hike. Under current law, the death tax has a top rate of … More