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  • 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

    Tax Day 2012: Taxmageddon on the Horizon

    In a bit of scheduling serendipity, Tax Freedom Day—the day when Americans finally earn enough income to pay off the bill for all federal, state, and local taxes for the year—falls on April 17 this year. That also happens to be Tax Filing Day 2012. Absent tax changes made by … More

    The Buffett Rule is a Calculated Distraction from Obama’s Failed Leadership

    What do you do when you’re losing a debate?  Change the subject.  That’s really all you need to know to understand President Obama’s resuscitation of his infamous “Buffett Rule” that would impose a minimum 30 percent effective tax rate on businesses and families earning $1 million. The Supreme Court gave … More

    No Fooling: U.S. Now Has Highest Corporate Tax Rate in the World

    This April Fool’s Day, the joke is on all of us. That’s because as of April 1, the U.S. now has the highest corporate tax rate in the developed world. Our high corporate tax rate has long made the U.S. an uncompetitive place for new investment. This has driven new … More

    Cooper and LaTourette's Budget Is a Major Tax Hike

    Rule #1 of tax reform: Tax reform does not raise taxes. The budget resolution sponsored by Representatives Jim Cooper (D–TN) and Steve LaTourette (R–OH) breaks this rule. In reality, it is a massive tax hike of nearly $2 trillion, according to Americans for Tax Reform. The Cooper–LaTourette budget follows the … More

    The Numbers Are in, and the Buffett Rule Comes Up Short

    President Obama’s infamous “Buffett Rule,” which would set a 30 percent minimum effective tax rate for families and businesses with incomes greater than $1 million, would raise a paltry $47 billion over 10 years according to a recent report by the Joint Committee on Taxation. During that same timeframe, President … More

    The Millionaire Surtax: Back from the Dead?

    The “millionaire surtax” is the Michael Meyers of bad tax policy. Like the villain in the Halloween movie franchise, it keeps rising from the dead. Just as the writers of the infamous horror movies keep coming up with more preposterous ways to revive Mr. Meyers, the surtax keeps coming back … More

    Politico and Liberal Economists—Not Congress—Considering Tax Tradeoff

    In a recent article titled “Hill Weighs Tax Trade-offs,” Politico reports that Congress is considering lowering the corporate tax rate and replacing the lost revenue with higher tax rates on capital gains and dividends. But the article cites no “Hill sources” considering such an ill-conceived swap. There are only vague … More