What do you do when you’re losing a debate? Change the subject. That’s really all you need to know to understand President Obama’s resuscitation of his infamous “Buffett Rule” that would impose a minimum 30 percent effective tax rate on businesses and families earning $1 million. The Supreme Court gave …
Brace yourself. In a mere 271 days, you and your fellow Americans will be hit with a tax hike the likes of which this country has never seen. The Washington Post aptly called the unprecedented $494 billion tax hike “Taxmageddon,” and Federal Reserve Chairman Ben Bernanke described it as a “massive fiscal …
There aren’t many American-owned companies more iconic than Anheuser-Busch, the famous producer of Budweiser beer based in St. Louis, Missouri. That was true up until 2008, when the Brazilian-Belgian company InBev executed a hostile takeover of the historic brewer, leading to layoffs of more than 1,800 workers. Unfortunately, conditions in the …
Rule #1 of tax reform: Tax reform does not raise taxes. The budget resolution sponsored by Representatives Jim Cooper (D–TN) and Steve LaTourette (R–OH) breaks this rule. In reality, it is a massive tax hike of nearly $2 trillion, according to Americans for Tax Reform. The Cooper–LaTourette budget follows the …
The Republican Study Committee (RSC) budget introduced today addresses six key fiscal criteria. It launches decisive entitlement reforms, cuts spending sharply and quickly, avoids tax hikes, includes pro-growth tax reform, provides for a strong national defense, and moves aggressively—within five years—to a balanced budget. The plan falls short in substantiating …
On March 22, Representative Paul Ryan (R–WI), chairman of the House Budget Committee, sat down with Heritage’s David Addington, Michael Franc, and Stuart Butler to discuss his budget proposal The Path to Prosperity: Restoring America’s Promise and President Obama’s fiscal year (FY) 2013 budget. Ryan’s assessment of defense spending, in …
President Obama’s infamous “Buffett Rule,” which would set a 30 percent minimum effective tax rate for families and businesses with incomes greater than $1 million, would raise a paltry $47 billion over 10 years according to a recent report by the Joint Committee on Taxation. During that same timeframe, President …
