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  • Tax Rates

    Warren Buffett Wrong Again on Tax Increases

    As we approach the “fiscal cliff,” there was little doubt that famed investor and self-appointed political sage Warren Buffett would pipe in at some point with his periodic call for higher taxes on his ilk of billionaires. Today was the day. Buffett, of course, is welcome to his opinion, but … More

    Avoiding a Debt Crisis, Eh? Lessons From Canada

    Congressional lawmakers met last week to try to hammer out a deal to avert the fiscal cliff. Democrats insist on revenue increases as part of such a deal, saying new revenue is the only way to significantly reduce the national debt. However, it is not a lack of revenue that … More

    What Are Economists Really Saying About Tax Rate Increases?

    On Friday, Representative Pete Sessions (R–TX) and House Speaker John Boehner (R–OH) ran afoul of Glenn Kessler’s “Fact Checker” blog regarding a study of President Obama’s proposed tax increase. Before deciding on a tax change, policymakers are wise to look at the economic impacts of the change. Two Studies In … More

    Is a Tax Cut Always a Good Thing?

    According to Friday’s Washington Post, the Administration is considering a new, short-term tax cut. Should conservatives cheer? As a matter of principle, there are at least two reasons to dislike taxes and to applaud tax cuts. First, taxes take money away from those who made the money in the first … More

    Bloomberg and Obama Misrepresent Tax Hikes on Small Business

    In the recent presidential debate, President Obama said that only 3 percent of small businesses would pay higher rates under his plan to increase the top two marginal tax rates. The implication was that job creation wouldn’t suffer, because so few businesses would pay higher tax rates under his plan. … More

    Romney's Tax Plan Doesn't Have to Raise Taxes on the Middle Class

    The Tax Policy Center (TPC) made headlines with its analysis of Governor Mitt Romney’s tax reform plan. The authors of the TPC report found, incorrectly as it turns out, that Romney’s plan would “necessitate” a tax increase on middle- and low-income taxpayers. Their conclusion is wrong and the report flawed … More

    Congressional Research Service Wrongly Implies Lower Tax Rates Don't Strengthen Economy

    The Congressional Research Service (CRS) set out to make a convincing case that lower income tax rates do not strengthen the economy. It failed, but in so doing, it called into question the quality of CRS analysis and the institution’s credibility as non-partisan. The CRS is supposed to provide expert, … More

    Government Will Take Almost Half Your Paycheck in 2013

    How high is the marginal tax rate on each additional dollar the average American earns? In other words, if you got a raise of one dollar, how much of that dollar would be taxed away? These rates are already high, and they’re getting higher next year. A middle-class taxpayer’s income … More

    Morning Bell: Obama's Crony Capitalist Trap Door

    The Obama White House says it hates tax “loopholes,” and the American people abhor them with good reason. They’re the ultimate in unfairness, allowing those in the know to wiggle their way out of playing by the same rules that apply to the rest of us. That’s why, at first glance, … More

    Chart of the Week: U.S. Rivals Japan for World's Highest Corporate Tax Rate

    Republicans and Democrats on the Joint Select Committee on Deficit Reduction this week finally agreed on something substantive: The U.S. corporate tax rate is too high. It’s a point we’ve been making for years at Heritage. High federal and state corporate tax rates — a whopping 39.2 percent when combined … More