Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent it. We are facing the largest tax increase in history—Taxmageddon, scheduled to take effect January 1—and what experts are calling a “fiscal cliff” of sharp …
The Obama Administration has effectively gutted the work requirements of the bipartisan welfare reforms of 1996. In doing so, it is trampling on the central policy that made welfare reform work. The lesson for policymakers from those reforms was that good principles, good policy, and good results go hand in …
A new study conducted by Ernst and Young proves conclusively that the President’s tax increase would be devastating to the economy and jobs. The study finds that, if Congress misguidedly adopted President Obama’s plan to raise taxes on job creators by allowing the Bush-era tax policies to expire for incomes …
The uncertainty caused by Taxmageddon—the one-year $494 billion tax increase that looms on January 1, 2013—is strong enough to slow the economy months before it actually strikes. In fact, it is already doing so. Highly knowledgeable and highly influential market observers have been warning Congress of this for weeks. Their …
“I’ve said that this is a make-or-break moment for the middle class, and I believe it,” President Obama told an Ohio crowd yesterday. Indeed it is—because in a sluggish economy, American taxpayers are about to be clobbered by the largest tax increase in history. Starting January 1, 2013, Americans will …
Americans are facing an unprecedented $494 billion tax hike on Jan. 1, 2013. It’s been dubbed “Taxmageddon” given the economic devastation it would cause. Conventional wisdom suggests lawmakers in Washington will wait until the 11th hour to come up with a solution. Fortunately, Speaker John Boehner (R-OH) announced last week …
Two well-connected government unions in California are teaming with Gov. Jerry Brown to support a multibillion-dollar tax increase. The California Teachers Association and Service Employees International Union were the top two spenders for lobbying in 2011 with combined efforts totaling more than $10 million, according to Sacramento Bee. Now they’re …
Democrats on the Joint Select Committee on Deficit Reduction last week floated a proposal that includes massive tax increases on wealthy Americans. While their plan would also include some cuts to entitlement programs, the tax-code changes make up a significant portion, according to press reports. The Los Angeles Times reported: …
