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  • the Obama tax hike

    Morning Bell: Heritage Experts React to Vice Presidential Debate

    Vice President Biden and Representative Paul Ryan squared off last night for a spirited and intense 90-minute debate at Centre College in Danville, KY. Topics ranged from foreign to domestic, touching on serious issues that Heritage policy experts grapple with every day. While many commentators were critiquing style, a team … More

    How Weak Was Friday's Jobs Report?

    Upside surprise: Employers add 151,000 jobs in October , the USA Today reported about the Bureau of Labor Statistics Friday. And it is true: the establishment survey of U.S. businesses did report that 151,000 jobs were created last month. But as The Heritage Foundation’s James Sherk and Rea Hederman note … More

    Hoover, FDR and Clinton Tax Increases: A Brief Historical Lesson

    The obvious reason to prevent a tax hike by extending current tax rates is that doing so will prevent further economic harm to an already flat economy. How do we know that tax increases will cause economic harm? Three examples: 1932, 1937 and 1993. After the 1929 stock market crash, … More

    The Deservedly Forgettable Obama Tax Cuts

    The New York Times asked yesterday: What if a president cut Americans’ income taxes by $116 billion and nobody noticed? the author Michael Cooper goes on to report: In a troubling sign for Democrats as they head into the midterm elections, their signature tax cut of the past two years, … More

    Morning Bell: How the Obama Tax Hikes Affect You

    Yesterday, Time Magazine senior political analyst Mark Halperin wrote: “With the exception of core Obama Administration loyalists, most politically engaged elites have reached the same conclusions: the White House is in over its head, isolated, insular, arrogant and clueless about how to get along with or persuade members of Congress, … More

    Morning Bell: At the Mercy of the Obama Tax Hikes

    When will the Obama administration admit their economic stimulus plan, which cost more than the Iraq war, failed? The stimulus has already failed to create the 3.5 million jobs President Barack Obama promised it would. It has already failed to keep unemployment below the 8% the President’s top economists predicted … More

    You Can’t Tax the Rich Enough to Close the Deficit

    President Obama has driven spending and deficits to historic levels in just two years since taking office. Not content to stop there, his budget for the next 10 years keeps spending at record levels and piles up unprecedented amounts of debt in the process. To partially offset his massive overspending, … More

    Higher Taxes = Deficit Reduction? Maybe in a Static Economy

    A Washington Post article today reports that letting the Bush tax cuts expire would nearly close the fiscal gap. This static logic misses two key dynamic aspects of the economy: (1) the political incentives that higher taxes bring about, and (2) the economic incentives of such policy. 1. Political Incentives. … More

    Morning Bell: The Economic Toll of the Obama Tax Hikes

    In today’s Wall Street Journal, House Minority Whip Eric Cantor (R-VA) identifies two justifications for his unequivocal opposition to any impending tax increases: “The first concerns the pain that tax increases threaten to inflict on our economy over the short term. The second is to stop the slide under our … More

    Morning Bell: The Obamacare and Obama Tax Hike Double Whammy on Seniors

    No demographic was more opposed to Obamacare’s passage and no group wants to see the law repealed more than America’s seniors. They know that Obamacare used Medicare as a piggy bank to transfer half a trillion dollars out of Medicare, not to shore up Medicare’s solvency, but to spend on … More