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  • Morning Bell: Where Did Your Tax Dollar Go?

    Americans are waking up today to the worst “case of the Mondays” they’ll have all year: It’s Tax Day. Most Americans dread Tax Day, and for good reasons. Beyond the huge tab Americans pay to the government, the tax code is so complex that it’s difficult to figure out what … More

    Damaging Policies Add Up to $1 Trillion Tax Increase in Obama Budget (UPDATED)

    UPDATE: The official total tax increase in President Obama’s budget is now available in the Treasury Department’s “Green Book.” Treasury scores the total net tax increase from all President Obama’s tax polices at more than $1.1 trillion over 10 years. There was little doubt that President Obama would propose a … More

    Ways and Means Small Business Tax Reform Proposal a Positive Step

    Under the leadership of Chairman Dave Camp (R–MI), the House Ways and Means Committee released draft legislation for improving the tax treatment of small business. This is an important step forward on the road toward comprehensive tax reform. The special attention Ways and Means focuses on small businesses is truly … More

    Senate Democrats Want Unnecessary $1.5 Trillion Tax Increase

    It has been nearly four years since the last time the Senate passed a budget. In that time, it hasn’t as much as proposed a budget. That at long last changed yesterday when Senate Budget chairwoman Patty Murray (D–WA) released a budget plan for next year. Now that the Democrats … More

    Financial Transactions Tax Is Back - Again

    Two Members of Congress are reportedly trying again to impose an excise tax on certain financial transactions—i.e., the “Robin Hood tax.” A financial transactions tax can take several forms, but the version proposed by Senator Tom Harkin (D–IA) and Representative Peter DeFazio (D–OR) in the last Congress would have charged … More

    The "Buffett Rule" Returns

    President Obama’s so-called Buffett Rule just won’t go away. It is back in its latest iteration because Senate Democrats proposed it to partially offset the soon-to-begin sequestration spending cuts. In the Senate Democrats’ version, the Buffett Rule, named after famed investor and vocal advocate for (and benefactor of) liberal policy … More

    The Income Tax Turns 100 Years Old

    The federal income tax is now a centenarian. On February 3, 1913, the 16th amendment to the Constitution was ratified. The revenue the income tax raises allowed Congress to greatly expand the size of the federal government. We will likely never return to a federal government the size we had … More

    Morning Bell: 13 Tax Increases in 2013

    New Year’s Day was tough for taxpayers. Thirteen tax increases kicked in. The deal that Congress and President Obama struck that finally—but only partially—avoided the fiscal cliff resulted in seven tax increases. Those hikes combined with six tax increases from Obamacare that also began on New Year’s Day. 13 Tax … More

    Congressional Budget Office Shows Senate Bill Is $600 Billion Tax Hike

    The Congressional Budget Office (CBO) just now released its score of the bill the Senate passed early this morning while everyone was celebrating the beginning of the New Year. Despite knowing for a long time that taxes would go up on all Americans today, the Senate waited until we technically went … More

    Medical Device Tax Is Latest Proof That Taxes Matter

    The more time passes, the more we get to see in real life the consequences of Obamacare. We warned back when it passed that the 18 tax increases it contained would do serious damage to the economy. Only now that the damage is about to take hold do some in … More