Click here to join us right now for our “Lunch with Heritage” online chat. We are joined by Heritage’s Senior Tax Policy analyst Curtis Dubay. He is taking your questions about the proposed surtax on millionaires, the so-called “Buffett Rule”, and the impact it would have on jobs. Lunch with Heritage feat. Curtis Dubay
When President Barack Obama began his Midwest “jobs tour” in August, he set out to campaign for the passage of a yet-to-be-released plan to turn around the country’s stagnant economy. But after the details of that plan emerged–more stimulus spending and higher taxes–and when the Democrat-controlled Senate put the measure up for a vote this week, the President’s plan was defeated. Even members of the President’s own party opposed more taxing and spending as a way of pulling America out of its unemployment ditch. Take Senator Jim Webb (D-VA), for example. The …
What’s the latest plan from the left to pay for President Obama’s latest batch of stimulus spending? More taxes on high-income earners, of course. And if Senate Majority Leader Harry Reid (D-NV) gets his way, the United States’ average marginal top tax rate would be higher than all but two of the 30 most economically developed countries in the world. Reid has proposed a 5.6 percent surtax on incomes of married filers earning over $1 million starting on January 1, 2013–and that would push the average top U.S. income rate to 55 …
Yesterday at the White House, President Barack Obama faced the media to once again plug the American Jobs Act–his plan for more stimulus spending, paid for with even more taxes on America’s job creators. And this morning, not a day later, America received a reminder of why a continuation of the President’s tried-and-failed policies is not a prescription for success: In September, the U.S. unemployment rate held steady at a dismal 9.1 percent with 14 million Americans still out of work. About 103,000 jobs were added, but 45,000 of those …
America has heard a lot of talk about the “Buffett Rule” — President Barack Obama’s plan to make the tax code more “fair” by permanently raising taxes by $1.5 trillion over 10 years, with most of the burden falling on families and businesses earning more than $250,000 per year. But if he wants to talk about “fairness,” he should look at how much top income earners already pay in taxes, as the chart below shows: In a new paper, Heritage’s Curtis Dubay explains that the supposed “fairness” of the new rule is …
Listen to last Sunday’s Heritage Libertad Radio Show in Spanish or English. The Spanish segment kicked off with a discussion of President Obama’s recent speech to the Congressional Black Caucus, including his insistence on raising taxes on the rich. Later on we take member questions: How much interest on the debt are we paying every year? How long with it take to repeal Obamacare? The English segment kicked off with a discussion of terrorism, including the death sentence of a Christian pastor in Iran. Afterward, we take a look at some new revelations …
President Obama is touting his new mega tax on millionaires–a.k.a. “the Buffett Rule”–as the best thing since sliced bread (or since his plan to spend $447 billion on more stimulus), but not everyone agrees–namely, entrepreneurs and those who have seen the effects of soaking the rich in order to pay for more government spending. In today’s Washington Post, Eric M. Jackson, formerly of PayPal and now CEO of CapLinked, an online platform for private investing, explains how the President’s plan to set a minimum tax rate for those with annual income above $1 …
President Obama says he wants big corporations, including oil companies, to pay their “fair share” in taxes. His deficit reduction plan includes eliminating what he calls special loopholes and subsidies for oil and gas companies—despite the fact that they’re not specific to the oil and gas industry but the broader manufacturing sector. If the President wants to collect more money from the oil and gas industry, he should support increasing access to America’s energy resources. This would greatly increase the amount of revenue coming into the federal government, and it …
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe FACT CHECK: Are rich taxed less than secretaries? – Stephen Ohlechmacher, Associated Press Billionaire Backer Disputes Charges That Company Sought White House Help to Influence Testimony – James Rosen, FoxNews.com Afghanistan: Lessons in War and Peace-building for US – David Arnold, Voice of America Political Scandals Heat Up In Russia – Ariel Cohen, The National Interest Look what we’ve ‘made in Taiwan’ – Ed Feulner, The Washington Times EPA grants …
Two years ago, as the United States was coming out of the last recession, President Obama was asked how raising taxes on anyone would help with the economy. The President’s answer? “Normally you don’t raise taxes in a recession, which is why we haven’t, and why we’ve instead cut taxes.” Fast forward to today, as America is struggling with zero job growth and a stagnant economy, and the President has dramatically changed his rhetoric, proposing $1.5 trillion in new taxes on the American people and the country’s job creators. Those …
