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    Another Year of Trillion-Dollar Deficits

    Preliminary figures from the Congressional Budget Office (CBO) show that Washington ran a $1.291 trillion deficit in 2010, just slightly less than last year’s $1.416 trillion. To put these figures in perspective, the annual budget deficit between 1789 and 2008 never reached $500 billion. As a percentage of the gross … More

    Fairness is in the Eye of the Beholder Vice President Biden

    In a recent interview with Yahoo Finance, Vice President Joe Biden said the following: “the top 1 percent of earners get 22 percent of all income made in the U.S. Taxes have been lowered for the wealthy considerably over the years. It’s about time we get a little tax equity … More

    Where Does Your State Rank In Rangel's Surtax Plan?

    Morning Bell: Cutting Taxes for Growth and Fairness

    Throughout his 1992 campaign, then-candidate Bill Clinton promised tax cuts for the middle class. By the time he was sworn into office in 1993, though, Clinton said he would have to “revisit” his tax-cut plan and was “absolutely mystified” that the media had perceived it as a major pledge. A … More

    Obama Throws Up Brick for NBA

    NBA owners and players will have to swallow hard if that avid hoops fan, Barack Obama, is elected president and pushes through his tax plan. It’s not just players like Celtics star Kevin Garnett, the league leader in pay, who’d have to figure on paying more in federal income taxes. In fact, the NBA’s 20 … 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

    Laffering All the Way to the Treasury

    The New York Sun pokes fun at the Treasury Department, which this week released two reports assessing the impact of the 2003 tax cuts: We confess we stumbled a few times in making our way through the language, which seems at times to buy into left-wing assumptions. “Capital gains income, … More