President Obama released his 2014 budget more than 60 days late. Heritage’s team of policy experts spent the better part of yesterday combing through it to discover proposals that impose new taxes on Americans, expand the size of the federal government, and further erode individual freedom and our national defense. …
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 …
Minimum Wage President Obama’s budget proposes raising the minimum wage to $9 an hour. This would hurt the very workers the President wants to help. When the price of something rises, people—both consumers and employers—purchase less of it. Americans responded to the higher cost of gas by driving less. Businesses …
When the President’s budget comes out Wednesday, it will complete the last piece of the budget puzzle, as the House and Senate have each duly passed a budget according to law. Never mind that the President’s budget is supposed to lead Washington budget discussions, rather than follow. The key question …
Last week, the President declared April 2013 National Financial Capability Month in an effort to encourage Americans to budget responsibly. This is a commendable goal. However, with the President’s budget more than two months late, it’s worth considering how the President is managing the nation’s finances: He grew the national …
In the ongoing debate over deficit reduction, President Obama and his colleagues in the House and Senate incessantly call for tax increases as if our budget problems persisted because of taxes being too low. If only the federal government could usurp more of taxpayers’ hard earned money, the line of …
President Obama asked federal workers to suggest ways for the federal government to save money, and American citizens responded – with 86,000 suggestions. But his administration picked only 67 of those ideas, most of which are either minute or simply take credit for savings that have already been implemented, according …
During last week’s vote-a-rama in the Senate, Senator Bernie Sanders (I–VT) intended to put Senators from both parties on the record for opposing the adoption of a more accurate and less inflationary measure of calculating cost of living adjustments (COLA) in Social Security: the chained Consumer Price Index (CPI). Chained …
Senator Patty Murray’s (D–WA) budget tax plan directly calls for $975 billion in new tax increases over the next decade. Indeed, the Senate budget is only a framework document, but it clearly lays out who should pay the higher taxes. The Democratic majority wants higher taxes by “eliminating loopholes and …
