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    Taxmageddon Is Slowing the Economy Now

    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 … More

    Morning Bell: How Taxmageddon Will Impact You

    “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 … More

    Chart of the Week: Taxes Soaring Past Highest Level Ever

    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 … More

    Chart of the Week: Obamacare's 17 New Taxes

    Americans who feel overtaxed already are in store for a shocker: Obamacare will add 17 new taxes or penalties for a whopping cost of $502 billion over its first 10 years. This week’s chart illustrates the new taxes and offers a year-by-year rundown of their annual costs. These taxes will … More

    Government Unions Support California Tax Hike

    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 … More

    Chart of the Week: Taxing the Wealthy to Cover Future Deficits Won't Work

    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: … More

    Rep. Dave Schweikert: Tax Increases Won't Solve Debt Crisis

    Rep. Dave Schweikert (R-AZ) attempted on Tuesday to explain the debt debate — how the budget gap should be closed — in terms everyone can understand. Schweikert noted on the House floor that proposals to deal with the deficit from President Obama and other liberals — such as ending tax … More

    Top 10 Reads: July 15, 2011

    Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Heritage Foundation comes out against McConnell plan – Amanda Carey Sea Treaty puts U.S. interests in deep water – Peter Brookes Voters get strange polling calls – Alissa Smith Regime Change … More

    Chart of the Week: Tax Burden Is Rising to Highest Level in History

    President Obama will meet with congressional leaders tomorrow to resume talks on the debt limit. The rare Sunday meeting between top Republicans and Democrats could signal the start of “hard bargaining” after Thursday’s debt talks left the parties far apart. While Democrats want tax increases on the table in debt negotiations, Republicans … More

    Reconciliation Bill Adds Even More Taxes

    A jubilant President Obama put his signature on health care legislation yesterday, but the work isn’t done quite yet. The U.S. Senate must pass the Reconciliation Act of 2010, making a number of tax changes to current law. By signing the legislation, Obama already broke his campaign promise not to raise “any … More