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    Fitch Ratings Warns: Congress Must Address the Fiscal Crisis

    Proof of President Reagan’s wisdom keeps cropping up. A fresh example: The U.S. has retained its AAA credit status with Fitch Ratings, mainly due to the fundamental strengths of its free-market economy; but a long cloud threatens the outlook—and it comes from the government’s increasingly unstable fiscal condition. In short, … More

    What About the Payroll Tax, Mr. President?

    Finally, President Obama has awakened to at least a part of Taxmageddon as it barrels down on American taxpayers next year and drags down job growth this year. Was he previously unaware of it? Did he just decide it matters, given the recent pattern of weak job growth? So the … More

    Morning Bell: Obama's Tax Hike on Job Creators

    “The last thing you want to do is to raise taxes in the middle of a recession, because that would just suck up—take more demand out of the economy and put businesses in a further hole.” That was President Obama in 2009, trying to reassure Americans that he was going … More

    Obama Finally Enters the Taxmageddon Debate—With a Tax Increase

    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 … More

    Forecast: Taxmageddon Would Cause Another Recession

    Speaking this week at the Western Economic Association International, economic forecaster Allen Sinai talked about the damage the “fiscal cliff” of 2013 will cause the economy. Sinai concludes that a recession is unavoidable if Congress does not act to fix the fiscal cliff. The fiscal cliff has two components: (1) … More

    Online Chat on Taxmageddon

    Taxmageddon is coming. Sounds like a tagline for a horrible movie, but unfortunately it is quite real. Unless congress acts, taxes will be going up for everybody. Click here to join us right now for our “Lunch with Heritage” chat. We are joined by Heritage’s Senior Tax Policy Analyst Curtis … More

    Taxmageddon Will Decimate the Finances of Low-Income Americans

    “Taxmageddon,” also called a “massive fiscal cliff” by Federal Reserve chairman Ben Bernanke, refers to the assortment of expiring tax relief combined with new Obamacare tax hikes and the payroll tax restarting on January 1, 2013. Taxmageddon will be especially hard on areas of the country that can least afford … More

    To Stop Taxmageddon, Repeal Obamacare

    Unless President Obama and Congress take action soon, Taxmageddon will hit on January 1, 2013. Taxmageddon is a $494 billion tax increase for 2013 alone. It is made up of several expiring tax policies and the implementation of new Obamacare tax increases that all kick in at the start of … More

    Taxmageddon to Hit These States and Congressional Districts Especially Hard

    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 … More

    Morning Bell: The Grecian Formula for Economic Decline

    The President and his team have been blaming “European headwinds” for some of the U.S. economy’s woes. But the truth is that the policies pursued by Washington and Athens are frighteningly similar—and the outcomes are not good for either country. Both countries are in need of comprehensive fiscal reforms, yet … More