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  • Buffett Rule

    Top 1 Percent Pays Effective Tax Rate Nearly Three Times That of Middle Class

    New data from the Congressional Budget Office (CBO) show that President Obama’s much-discussed Buffett Rule, which would require families earning more than $1 million a year to pay an effective tax rate of 30 percent, is basically in effect. The data also show that President Obama’s premise for pushing the … More

    Morning Bell: 5 Things to Know About the Obama Budget

    President Obama finally released his budget yesterday—more than two months late. Heritage experts immediately went to work analyzing the mounds of new spending on education, manufacturing, “clean energy,” infrastructure, and small business. But the President didn’t stop at more of the same failed stimulus and Solyndra-type policies. He also piled … 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

    The Obama Budget: Heritage Experts' Analysis

    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 … 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

    Senate Sequester Plan: They Can’t Be Serious

    The Hill newspaper demonstrated a keen knack for understatement today with its account of Senate Democrats’ $110 billion sequester replacement proposal: “The bill would appear to have little chance of reaching President Obama’s desk, however, given opposition from House and Senate Republicans to increasing any taxes to replace the sequester.” … 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

    Henry Ford: No Model P(rogressive)

    President Obama has a new role model for his Buffett Rule tax—Henry Ford. It’s an odd choice considering that Ford advocated free-market capitalism and opposed redistributive policies. Despite the lucrative government contracts, Henry Ford refused to participate in FDR’s 1933 National Recovery Act. (Let’s not forget that Ford Motors was … More

    Morning Bell: What Tax Day Could Feel Like in 2013

    In addition to today being Tax Day, it’s also, coincidentally, “Tax Freedom Day” — meaning that it has taken from January 1 until now for Americans to earn enough money to pay this year’s federal, state, and local tax bill — 29.2% of all our income. In other words, for … More

    Picture This: The Buffett Rule vs. Obama's Budget

    President Obama says his “Buffett Rule” — which imposes higher taxes on wealthy Americans and job creators — will help “stabilize our debt and deficits for the next decade.” But if you compare how much money his policy raises with how much he’d like to spend, you get a much … More