President Obama unveiled the details of his jobs plan last week, including a proposal to offset the new government spending with tax hikes. It’s a bizarre strategy for a president who says he wants to create jobs. As the above chart from Heritage’s 2011 Budget Chart Book illustrates, Americans are already grappling with the prospect of massive tax increases. If the 2001 and 2003 tax cuts expire on Dec. 31, 2012, and more middle-class Americans have to pay the alternative minimum tax, taxes will reach unprecedented levels. The president’s budget …
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. South China Sea: It’s not Beijing’s lake – Kim Holmes Are federal social programs working? No one knows. – David Muhlhausen Every Single One: The Politicized Hiring of Eric Holder’s Voting Section – Hans A. von Spakovsky Government is wrong starting point for caring for the poor – Jennifer Marshall ‘Waiver’ warning – Pittsburgh Tribune Review Washington to nation: What economic crisis? – Steven Thomma & Lesley Clark OUR VIEW: …
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Addicted to subsidies – Derek Scissors Health-care legislation will take millions off the tax rolls – Brian Blase & Paul Winfree Tax hikes not needed to balance budget – Curtis Dubay Budget Danger Ahead: How Republicans could get snookered again – James C. Capretta EPA stimulating environmental regulations abroad – John Rossomando Energy Clarity 101 – Mark Green E.P.A. Chief Stands Firm as Tough Rules Loom – John M. Broder Small …
The recent global financial panic and recession had many authors. Millions of individuals and businesses made bad decisions about investing and debt. Scores of big shots like Dick Fuld, former CEO of now defunct Lehman Brothers, gambled big and lost bigger. And then there were those few who were in a class by themselves. Those whose actions cannot be said to have directly caused the meltdown but contributed to it far above all others. Chief among those few are former Federal Reserve Chairman Alan Greenspan, who presided over an overly …
Nothing New Here Same Objectionable Features: A public plan disguised as a co-op, individual and employer mandates, massive federal regulation over insurance and benefits, and massive Medicaid expansion—the Baucus bill has them all. These are the same features plaguing the other bills in Congress and that Americans have routinely dismissed for months. Seven Fatal Flaws Middle Class Tax Hike: The Baucus bill would impose a new sales tax on drugs and medical devices and a new federal excise tax on insurance plans that exceed $8,000 for an individual and $21,000 …
