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
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 …
Warren Buffett’s demand last week that the federal government stop “coddling” the country’s wealthiest citizens – meaning that it should take more of their income with even more confiscatory tax policies – has earned him rebukes from a few fellow members of the billionaire club. In today’s Wall Street Journal, former American Express CEO Harvey Golub writes: Governments have an obligation to spend our tax money on programs that work. They fail at this fundamental task. Do we really need dozens of retraining programs with no measure of performance or …
Billionaire investor Warren Buffett has a special request for the U.S. government: He wants to be taxed more, he writes in today’s New York Times. The trouble is, he leaves out some very important facts—while feeding into President Barack Obama’s calls for higher taxes. “Our leaders have asked for ‘shared sacrifice,’” he proclaims. “But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.” “Shared sacrifice” is a well-worn catchphrase peppering President Obama’s remarks …
Months after making an ill-fated stand for the “Cornhusker Kickback” in health care legislation, Sen. Ben Nelson (D-NE) has again put himself in the spotlight. Yesterday he was the lone Democrat to vote against moving forward on the Senate’s financial regulation bill. Nelson claimed in a statement, “We need to regulate Wall Street without doing harm to Main Street, and I’m hearing from Main Street businesses in Nebraska that have concerns about the current bill adversely impacting them.” But given his past attempts to extract special favors for Nebraska, not …
The left really has no idea what free markets are. Witness Washington Post columnist Harold Meyerson who wrote a column last week blaming the current credit crisis on ‘unregulated capitalism’ and ‘laissez faire’ policies. According to Merriam-Webster, ‘laissez faire’ means: “a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights.” Keep that in mind as you read this transcript from CNBC between Becky Quick and Warren Buffett: QUICK: Let’s talk about Fannie Mae and Freddie Mac, specifically. These are two …
