Government policies have made life difficult for middle-class families like Thomas and Melissa Clements. Their business in Broussard, LA, has suffered from the Obama administration’s offshore drilling moratorium and subsequent permitorium. Tomorrow morning Thomas is coming to Capitol Hill to talk about his struggles at a congressional hearing. Clements recently appeared in a video produced by Heritage and the Institute for Energy Research on the moratorium’s economic impact. His business, Oilfield CNC Machining LLC, has suffered from the government’s delays in permitting. This week’s hearing, organized by the Senate Health, …
This is part one in a debate with liberal blogger Tim Mitchell on whether income inequality is a problem. In this post I lay out why income inequality isn’t a problem. For part one from Mr. Mitchell, click here. When it comes to income inequality, the left argues that since 1979 the top ten percent of taxpayers are making an unfairly large portion of total U.S. income. This narrative is advanced by the widely accepted work of Thomas Piketty and Emanual Saez, showing that “the top 1 percent of Americans now receive …
Vice-President Biden recently released the report of his task force on how to help the middle class. While there are a few excellent recommendations, most of the report focuses on failed policy prescriptions of the past. An early indication on the biased nature of the report is the early admission that labor unions contributed heavily to the writing of the report, while business input is sparse in comparison. The report claims that middle class income has been stagnant since the 1970’s, and middle class families need the hand of government …
The Congressional Budget Office issued a report today giving the Baucus health care bill the stamp of deficit-reduction approval, but this was earned only through steep increases in indirect taxes, such as the coverage mandate. The coverage mandate included in Senator Baucus’ health care plan has significant and disturbing implications for middle-class Americans. Individuals earning up to $45,520 and families earning up to $92,640 would need to cut corners to make ends meet, all in response to the indirect tax implicit in a health care mandate. For individuals making $34,140 …
Obamacare: Day Three of Senate Finance Committee Hearings On Thursday, September 24th, the Senate Finance Committee continued to vote on amendments to the “Chairman’s Mark” of the America’s Healthy Future Act of 2009. As the committee continues to consider more than 500 amendments, it is becoming clear that Senators are directly undercutting the high profile promises that President Obama made to the American people in his widely broadcasted address to Congress on September 9, 2009. Consider several health policy decisions made by members of the Senate Finance Committee: Cutting Medicare …
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 year later Americans punished Clinton by electing the first Republican Congress in more than 40 years. President-elect Barack Obama also campaigned on a middle class tax cut, but so far, he seems intent on not repeating Clinton’s mistake. Yesterday on …
Last week we documented Barack Obama’s devolving definition of who he considers to be rich. At first it was families making more than $250,000. Then it was those making more than $200,000. Than those making more than $150,000. Now Bill Richardson is telling New Mexico radio listeners only those making less than $120,000 can be considered middle class. If Obama keeps this up, none of us will have a dimes more wealth or income, but at least we’ll all be able to call ourselves rich.
Rep. Eric Cantor (R-VA) dropped by Heritage this afternoon for our Conservative Bloggers’ Briefing to talk about his Middle Class Bill of Rights, a plan he’s crafted to address concerns he’s hearing from constituents in his district and across America. Cantor said for too long Democrats have claimed to ownership over the middle class. He’s hoping to change that perception with a plan that: Brings down gas prices Lowers the cost of food Makes paychecks go further Creates more jobs and ensures safer retirements Provides health care coverage for families …
A new study by University of Washington economics professor Theo Eicher finds middle-class families are being priced out of the Seattle real estate market due to land-use regulations that drive up home prices by more than $200,000 per home. Eicher identifies Washington’s smart-growth-movement-inspired Growth Management Act as one of the main culprits for the inflated prices in the region, but similar land-use regulations are driving down home ownership rates in major metropolitan areas through out the country, creating an involuntary “rent belt” throughout the United States as millions of moderate …
