Contrary to claims by cheerful news sources, Social Security’s deficit outlook is not “unchanged” or “no worse.” Social Security’s unfunded obligation rose by $1 trillion according to the latest trustees’ report. U.S. taxpayers now owe $12.3 trillion to pay scheduled benefits—in addition to what Social Security can hope to collect …
President Obama is crisscrossing the country to scare Americans about sequestration. But what’s really frightening are the 13 Obama tax hikes that took effect in 2013. These tax increases, which range from new Obamacare taxes to a payroll tax hike on workers, will slow the economy. Heritage Foundation President-Elect Jim …
If you aren’t nervous, you should be. The President is, once again, talking about a “balanced approach” to fixing sequestration—the across-the-board budget cuts scheduled to hit America. Translation: your pocketbook is threatened. The last time the President negotiated a “balanced” package was January’s fiscal cliff deal. He said that only …
Did you notice how your paycheck shrank in January? The expiration of temporary payroll tax cuts boosted marginal tax rates about two percentage points for most Americans. That might not be a very large number on its own, but taken together with the full range of government policies affecting workers …
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 …
