New Year’s Day was tough for taxpayers. Thirteen tax increases kicked in. The deal that Congress and President Obama struck that finally—but only partially—avoided the fiscal cliff resulted in seven tax increases. Those hikes combined with six tax increases from Obamacare that also began on New Year’s Day. 13 Tax …
The Congressional Budget Office (CBO) just now released its score of the bill the Senate passed early this morning while everyone was celebrating the beginning of the New Year. Despite knowing for a long time that taxes would go up on all Americans today, the Senate waited until we technically went …
While many Americans resolve to make 2013 the year they really do slim down, exercise more, and spend less, Congress could afford to commit to a few such resolutions of its own. Call them budget resolutions—something Congress hasn’t had in a while. Here are five suggestions: Cut spending. The federal …
Ever since the Senate rejected President Obama’s cap-and-trade scheme in 2009, his administration has been hard at work to find other ways to implement a radical, environmentalist agenda. Obama made these intentions clear at a press conference in 2010 when he explained, “Cap and trade was just one way of …
Ongoing negotiations over pay and benefits between the International Longshoremen’s Association (ILA) and U.S. port operators highlights the economic risks when unions monopolize labor markets. They also remind us that imports do, in fact, create jobs. Since March the longshoremen have been in heated discussions with 14 ports along the …
Volleys of negotiating counter-offers are coming in faster now that Christmas break and the looming fiscal cliff are just around the corner. While there is much unsatisfactory with Speaker of the House John Boehner’s (R–OH) Sunday night proposal, let us not forget that the reason we are watching this needless, …
Faced with a court-ordered deadline, the Environmental Protection Agency (EPA) finalized more stringent rules for National Ambient Air Quality Standards for Particulate Pollution (PM2.5), more commonly known as soot. The new standard lowers the standard from 15 micrograms per cubic meter of air down to 12 micrograms, and counties must …
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 …
There are many ways to surrender—and some congressional Republicans seem bent on exploring them all. In the debate over the fiscal cliff, the President’s position is simple: The Republicans must capitulate on income tax rate hikes, and all other serious issues are not up for discussion. Never mind that Obama …
Deficit spending does not foster economic recovery. The U.S. and the world need to recognize the stagnation and inter-generational inequality caused by such spending, and for reference, they need not look further than Japan’s recent history of deficits. In addition to its two lost decades, Japan’s heavy borrowing means the …
