What will the tax hikes of January 1, 2013, mean to real Americans? Let’s say you are a black woman who has a rewarding, though extremely challenging, career as a registered nurse. You’re nearing retirement—you’re 58, living in the Miami-Fort Lauderdale metropolitan area. After working hard for several decades, you …
“We make some tough spending cuts on things that we don’t need; and then we ask the wealthiest Americans to pay a slightly higher tax rate. And that’s a principle I won’t compromise on.” At yesterday’s fiscal cliff campaign stop in Redford, Michigan, President Obama delivered these remarks and hammered …
Even as the country deals with the crisis of the “fiscal cliff,” there’s another crisis waiting in the wings. “The second act will occur early in 2013 when the federal government will exhaust its ability to issue debt legally,” writes Heritage’s J. D. Foster. As computer programmers would say, the …
The one glaring omission in President Obama’s fiscal cliff demands for higher rates on top earners is that he’s already raised their taxes. That’s right! When he signed Obamacare into law, he raised tax rates on families earning more than $250,000—his definition of rich. He has done so by including …
The fiscal cliff is getting closer by the day, and it’s not just Washington wonks who are noticing. Even baseball players are on fiscal cliff watch. Government Executive recently looked at the details of Major League Baseball star B.J. Upton’s newly signed five-year contract with the Atlanta Braves. There’s at …
When President Obama put forth his first offer on the fiscal cliff, House Speaker John Boehner (R-OH) said, “You can’t be serious.” We could say the same thing to the Speaker after his counteroffer yesterday. In a letter signed by House Republican leadership, including Majority Leader Eric Cantor (R-VA) and …
With just a few weeks left in 2012, all eyes in Washington are on Capitol Hill and the “fiscal cliff” negotiations. As usual, Congress and the President are taking highly contentious issues down to the wire before cutting a deal—never a situation that ends well for taxpayers. Federal Reserve Chairman …
President Obama made his first offer to congressional Republicans yesterday in negotiations over the “fiscal cliff”—an economic catastrophe of tax hikes just a few weeks away. The White House’s proposal? $1.6 trillion in tax increases, $50 billion in new stimulus spending, and a change that would make it easier to …
As the fiscal cliff approaches, Congress and President Obama continue to debate tax increases, even though spending is the problem. Investor Warren Buffett recently opined that tax hikes on the wealthy would not curtail investments or hurt the economy. His logic, like President Obama’s, assumes that incentives don’t matter. Oh …
