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    Fiscal Cliff Solutions: Soar Over the Cliff or Kick the Can

    Kicking the can is the least repugnant remaining resolution to the fiscal cliff. The only alternatives appear to be the Republicans’ unconditional surrender on income tax rates (and conceding their principles) or simply going over the cliff. The story is now a familiar one. Congress and the President conspire to … More

    Warren Buffett Wrong Again on Tax Increases

    As we approach the “fiscal cliff,” there was little doubt that famed investor and self-appointed political sage Warren Buffett would pipe in at some point with his periodic call for higher taxes on his ilk of billionaires. Today was the day. Buffett, of course, is welcome to his opinion, but … More

    How Much Will Taxmageddon Cost Your Family?

    Check out and share our new infographic on the impact of Taxmageddon.  

    Tax Extenders: Excuse for Congress to Raise Taxes

    The U.S. House of Representatives will likely vote tomorrow to continue about 50 expiring tax incentives known as “tax extenders.” It must do so each year to prevent significant tax increases for some taxpayers. This year, however, the House will likely pass increases in other taxes to offset the supposed … More

    Trading Temporary Relief for Permanent Pain

    The House is set to vote today on H.R. 6275, a bill that trades temporary relief for permanent pain. According to a Republican Study Committee report, without a patch, the AMT will impose a $61.52 billion tax bill on middle-class Americans over the next 11 years. This is a tax … More

    Déjà Vu All Over Again: The AMT 'Patch' Is Back

    It’s that time of year again. Congress is facing its annual AMT predicament, and once again Americans must suffer through the same worn out debate thanks to House Democrats. The Alternative Minimum Tax (AMT) is a classic example of a broken Congress. The AMT, created in 1969 to prevent the … More

    Senate Budget Raises Taxes, Too

    The Senate budget resolution, which will be voted on later this week, is quite similar to the House budget resolution, which the Heritage Foundation analyzed yesterday. Heritage Foundation Senior Policy Analyst Brian Riedl notes: “While the House budget would raise taxes by $1.265 trillion over five years, and $3.911 trillion … More

    Blue Dog Democrat Questions Need for Stimulus Plan

    Rep. Baron Hill, a Blue Dog Democrat from Indiana, voiced concern today about the rush for Congress to pass an economic stimulus plan. During the question-and-answer portion of this morning’s hearing before the Joint Economic Committee, Hill noted that Democrats violated PAYGO rules when they passed a one-year freeze for … More