It was no coincidence that “Atlas Shrugged Part 1” made its box-office debut on tax day, April 15, earlier this year. So it was only appropriate that the DVD release would fall on Election Day. Harmon Kaslow, the movie’s producer, visited Heritage’s Bloggers Briefing today to talk about the film and preview “Atlas Shrugged Part 2,” which is slatted for a fall 2012 release. He also visited our Robert H. Bruce Radio Studio to share his thoughts on Hollywood, how the Internet has transformed movie marketing and the relevance of …
U.S. taxpayers will spend $431 billion just complying with the tax code this year, according a new study by Arthur Laffer, Wayne Winegarden, and John Childs. That’s not money collected by the Internal Revenue Service; that figure represents just the value of the time taxpayers will spend keeping records and filling out tax forms, and the cost of paying professional tax preparers to do it for them, plus the cost of the bureaucracy needed to administer the tax code. That $431 billion amounts to 30 percent of the total of income taxes …
As Tax Day arrives, families across the country are reluctantly pulling out purses and wallets to cut a hefty check to Uncle Sam. While the annual pain of paying federal income taxes is far from pleasant, married families can take comfort in the fact that they are probably better off financially than their single counterparts. Even among families with only one working spouse, married households fare far better than those headed by single men and women. On average, a single man will only make two-thirds the annual income of a …
Today, April 15, is typically Tax Day. Taxpayers would usually be furiously figuring out how much they owe Uncle Sam right about now. In case you didn’t know it, taxpayers this year get a three-day reprieve because of a holiday in Washington, D.C., commemorating President Abraham Lincoln’s emancipation of slaves in the District. No matter what day Tax Day falls on in coming years, we’ll all be paying considerably higher taxes unless Washington’s reforms its reckless spending ways immediately. To make matters worse, Washington has been able to hide this enormous …
Last Thursday was Tax Day, a day when many Americans pause to consider the impact that rising taxes have on their life and what they could have done with all that money they sent to the government. To memorialize the day, Heritage released a video “Tax Day By the Numbers” to help illustrate the burden that our out-of-control fiscal policy places on Americans. Additionally, we joined Americans around the country who attended local tea party protests. During the D.C. protest, organized by FreedomWorks, we went around and chatted with many …
April 15th is Tax Day, the day that our tax returns are due to the Internal Revenue Service. As we perform this annual ritual it is important to take a look at how much we are paying to the government and what it is being spent on. Our nation has been struggling to recover from a severe recession and the solution proposed by liberal Democrats is to increase federal spending to staggering levels and have the government take over the private sector. It’s amazing how little regard the Administration and …
For just over half of all Americans today is Tax Day. But for the other half it is just another day on the calendar. That’s because they pay no federal income taxes. The old saying goes “you can’t get something for nothing.” But these “non-payers” receive government services and benefits without chipping in. If more taxpayers continue to drop off the tax rolls, we will soon pass the dangerous tipping point where more than half of taxpayers are non-payers. The individual income tax is the main revenue raiser for federal …
The day after the House voted to pass Obamacare, the New York Times declared “a triumph.” A few days later, President Obama told Iowa liberals that Obamacare is a “victory” and said the left has prevailed “after a century of trying.” But how can a policy that buries the nation further into debt, strengthens the federal government, and undermines the very essence of our national character be labeled anything other than a dismal failure? It cannot. Obamacare fails the American people. And it won’t end with health care. The left …
As federal income taxes come due this Thursday, Americans are well aware of just how expensive government is becoming. But as the Wall Street Journal warned today, we ain’t seen nothing yet. Obama’s go-to strategy for cutting the deficit is to tax the so-called rich, but this would send tax rates to exorbitant levels. For example, to reduce the deficit from 11 percent of the economy today to a sustainable 3 percent of GDP, families with more than $209,000 would see tax rates rise from 33% and 35% to 72.4% …
Tomorrow, thousands of Americans across the country will organize on Tax Day to protest the tax, borrow, spend and bailout policies of Washington. Whether large or small, these demonstrations will all have one message in common: Enough! Over the past three months, Americans have seen an already out-of-control government spend their borrowed dollars as if a trillion dollars is a drop in the bucket. After the bailouts that put the White House at the head of a number of major corporations; after a stimulus bill that the Congressional Budget Office …
