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    On Stimulus, Krugman Feints, Mankiw Parries, Both Miss

    It often happens that flawed theories put into practice expose their internal inconsistencies for all to see before long. We now see this playing out in the case of Keynesian stimulus and the U.S. economy, and the stimulus defenders are at a loss. By any measure, the Keynesian debt-based stimulus … More

    Democrats Mean to Raise Middle Class Taxes in 2011

    Imagine a Congress running in a tough environment—the electorate is angry; a war is going badly; the unemployment rate remains stubbornly high. And imagine such a Congress facing the prospect of passing a nice, pre-election tax cut for all. They’d pass the tax cut faster than Speaker Nancy Pelosi (D–CA) … More

    Now is the Worst Possible Time for Tax Hikes

    Friday brought yet another grim jobs report. The economy created 431,000 jobs in May according to the report, but 411,000 of them were temporary government jobs working on the Census. All those jobs will disappear when the Census is complete. The jobs report is the latest signal that the stimulus … More

    The Spending Must Stop

    Congress is at it again, spending more taxpayer money and significantly adding to the deficit in the process. This latest bout of irresponsible spending is $174 billion tacked on to an otherwise necessary bill to extend long-established, mostly sensible tax-reducing provisions known as the “tax extenders.”  The legislation, dubbed Stimulus … More

    America to Debt Commission: Read Our Lips—No New Taxes.

    Last week, the President’s debt commission held its kick-off meeting.  The National Commission on Fiscal Responsibility and Reform, a group of 18 lawmakers and policy experts, has been tasked with proposing a solution to the mounting financial crisis facing the United States government. As we show in our 2010 Budget … More

    Obama Calls for a VAT

    President Obama has consistently ducked the question on whether he is considering a massive tax hike in the form of a value added tax (VAT) – until now. Yesterday in an interview with CNBC, the president made clear that he is open to a VAT – once he has seen … More

    Looming Tax Hikes Preventing Economic Recovery

    The danger of higher taxes in the future is thwarting economic recovery today. Businesses make investment and hiring decisions based on their expectations of future profitability. If they expect to be more profitable in the future they will hire. If they do not they hold back on expansion. They base … More

    Death Tax Dies Tonight

    The death tax will expire tonight as soon as the ball drops and 2010 officially begins. This is good news for the businesses and families the tax plagues. Unfortunately, this triumph may be short-lived as Congressional leaders have pledged to revive the death tax in the new year and make … More

    Tax Extenders: Excuse for Congress to Raise Taxes

    The U.S. House of Representatives will likely vote tomorrow to continue about 50 expiring tax incentives known as “tax extenders.” It must do so each year to prevent significant tax increases for some taxpayers. This year, however, the House will likely pass increases in other taxes to offset the supposed … More

    Stock Transaction Tax: Yet another Tax Increase

    Congress is discussing yet another tax increase. This one would be a tax on stock transactions and could fund a new jobs bill since it has become apparent to everyone that the stimulus failed to create any jobs on net. This was underscored again when the Labor Department reported Friday … More