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  • Obama Finally Enters the Taxmageddon Debate—With a Tax Increase

    With more than half the year gone, President Obama today finally broke his silence on Taxmageddon and thus brought a smoldering debate front and center. How? By continuing to push for raising taxes on the wealthy. President Obama and his allies had been perfectly content to continue to allow Taxmageddon … More

    Fabricated Details on Tax Reform

    The Democratic staff of the Joint Economic Committee (JEC) fabricated details about the

    Taxmageddon Is Slowing the Economy Now

    The uncertainty caused by Taxmageddon—the one-year $494 billion tax increase that looms on January 1, 2013—is strong enough to slow the economy months before it actually strikes. In fact, it is already doing so. Highly knowledgeable and highly influential market observers have been warning Congress of this for weeks. Their … More

    Taxmageddon Veto? Obama's Recent History Suggests Otherwise

    Former President Clinton caused quite the commotion earlier this week when he said on CNBC: What I think we need to do it find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now, and then deal with what’s necessary in the long … More

    CBO Stimulus Report Begs the Question

    Imagine I told you that if you were to spin around in place 1,000 times really, really fast in the opposite direction to the earth’s rotation, it would actually cause the earth to spin in reverse. You’d think I’m crazy, right? But just for fun, you spin around 1,000 times … More

    Student Loan Savings Tiny Compared to Taxmageddon Tax Increase

    President Obama’s proposal to keep interest rates on one type of student loans below market level obscures the fact that, if Taxmageddon strikes, the tax hike young adults entering the workforce would face would vastly outpace the savings they might enjoy from Congress continuing to subsidize their interest rates. Taxmageddon … More

    Pawlenty and Boehner Agree: Stop Taxmageddon Now

    Former Governor Tim Pawlenty (R–MN), national co-chair of the Romney for President campaign, appeared on CNBC yesterday and chastised President Obama for failing to lead on stopping Taxmageddon before the November election. Pawlenty is right: Washington should stop Taxmageddon now. Heritage has been saying just that for weeks. Speaker of … More

    Obama Keeps Recycling Failed Tax Policies

    There he goes again. It seems that President Obama just can’t help himself. He keeps pushing Congress to pass policies it has rejected in the past or has foolishly passed to little beneficial effect. The latest recycling of policies comes from the President’s Post-It note to-do list for Congress. If … More

    Congress Needs to Act Now on Taxmageddon

    A few weeks ago, around Tax Day, Heritage started warning of Taxmageddon—a one-year, $494 billion tax hike that slams the economy on January 1, 2013, unless Congress and President Obama act to stop it. At that time, Taxmageddon was merely a blip on Washington’s radar, because the conventional wisdom was … More

    Of Course Higher Taxes Slow Growth

    In The Wall Street Journal on Tuesday, Peter Diamond and Emmanuel Saez present a rambling defense of higher taxes on the rich to fund an engorged federal government. That they needed to throw out so many tired and errant arguments shows their entire argument is so much hot air. Of … More