Wednesday’s warning by the Congressional Budget Office (CBO) that the fiscal cliff is likely to push the economy back into recession should bring things sharply into focus for lawmakers. The CBO is correct that the fiscal cliff will lead to a recession, but its report contains faulty economic reasoning. The …
On the afternoon of another discouraging assessment of the nation’s economic growth, the Obama Administration late Friday quietly released its mid-year update of the budget. The synchronicity made clear just how far from reality the President’s fiscal and economic policies have drifted—and the imperative of a prompt course correction. Friday …
Are Hispanics—the fastest growing demographic in the country— on their way to becoming a reliably voting liberal bloc? Not so fast, especially considering a recent McClatchy-Marist poll that found that Hispanics, by a margin of 62 percent to 36 percent, favor extending tax cuts for all Americans—including the most affluent. …
With more than half the year gone, President Obama today finally broke his silence on Taxmageddon and thus brought a smoldering debate front and center. How? By continuing to push for raising taxes on the wealthy. President Obama and his allies had been perfectly content to continue to allow Taxmageddon …
Taxmageddon is getting ready to suffocate the U.S. economy under crushing tax increases on January 1, 2013. These tax hikes include the expiration of the 2001 and 2003 tax reductions and the tax increases from the 2010 health care law. The Heritage Foundation’s Center for Data Analysis (CDA) ran the …
Americans who are scrambling to pay their taxes by Tuesday’s deadline are in store for more depressing news: The tax burden on American families has risen dramatically and will continue to climb into the future without action from Congress. This week’s chart outlines the growth of taxes over the past …
No one likes tax increases, right? Not quite. Government unions do. In California, government unions recently postponed their contract negotiations until after a vote on an initiative that would hike taxes. The unions support the initiative, and they don’t want their new contracts to cause Californians to vote no. Their …
House Republicans return to Washington today to vote on a two-month payroll tax extension. If news reports are correct, the bill is likely to fail, leaving in doubt how lawmakers will resolve their differences before the year draws to a close. These year-end squabbles are now routine business in the …
