Kicking the can is the least repugnant remaining resolution to the fiscal cliff. The only alternatives appear to be the Republicans’ unconditional surrender on income tax rates (and conceding their principles) or simply going over the cliff. The story is now a familiar one. Congress and the President conspire to …
The latest fiscal cliff proposal by Speaker of the House John Boehner (R–OH) is infuriatingly frustrating to conservatives, again. In exchange for $1 trillion in tax hikes—including the President’s immediate tax rate hike on the wealthy—Boehner asked for just $1 trillion in spending cuts. And, to sweeten the pot for …
Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the next 10 days, Heritage is going to highlight one of the various changes in Obamacare projections (i.e. cost, enrollment, etc.) from when the law first passed until now. To …
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 …
Lost in the fiscal cliff discussion has been any hint of whether Coverdell Education Savings Accounts (ESAs) will be permitted to continue in their current form. As it stands, beginning January 1, parents will no longer be able to use these accounts for expenses for kindergarten through high school without …
Menzie Chinn took to the blog Econbrowser last Thursday to accuse conservative economists in general – and The Heritage Foundation in particular – of being inconsistent, since we did not share his optimism about the benefits of the 2009 stimulus, but we’ve warned of the danger of the fiscal cliff. …
“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 …
There are a lot of taxes in Obamacare that will harm businesses and consumers alike. Some business owners have been vocal about their dislike for the new law and what it will men for them. Join us today at noon ET for our “Lunch with Heritage” Google+ Hangout on 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 …
