From Reuters: Democrats want tax hikes to be the first item negotiated in “super committee” deficit-reduction talks, trying to force Republicans to confront an issue at the heart of this year’s budget fights, sources told Reuters. The tough stance by Democratic members of the powerful 12-member congressional panel reflects the party’s wariness that Republicans might […]
Taxes
Poll: Connecticut Voters Not Happy with Governor, Taxes
A new Quinnipiac University Poll released this morning shows Connecticut voters aren’t happy with Gov. Dan Malloy or his proposed $1.5 billion in tax increases: Connecticut’s new governor, Dannel Malloy, gets no honeymoon as voters disapprove 40 – 35 percent of the job he is doing, with 25 percent undecided, according to a Quinnipiac University […]
It’s the Spending, Stupid
If a picture really is worth a thousand words… Then this chart from the Heritage Foundation says it all: Bottom line; we’re not under taxed… The government spends to much! H/T: James Pethokoukis.
Nancy Pelosi: Value-Added Tax is “On the Table”
I’ve mentioned before that the Democrats were laying the groundwork for a European style Value Added Tax or VAT… I wish I could tell you I was wrong but House Speaker Nancy Pelosi confirmed that a VAT tax is “on the table” during an appearance on the Charlie Rose show Monday night: A new value-added […]
Yes, Mr. President the Individual Mandate Is A Tax
I don’t know about you, but I didn’t watch Pres. Obama ‘s Sunday Talk show orgy… I’ve skimmed through the transcripts and frankly I don’t think I missed much. He really didn’t say anything new, he simply repeated the same arguments he’s been making for months. About the only interesting thing I came across was […]
The Tax Man Cometh: Senate Health Reform Bill Includes Many Tax Hikes
The folks at Americans for Tax Reform have examined the Senate Finance Committee health care reform bill announced today and come up with a list of all the tax hikes in the bill: Individual Mandate Tax. If you don’t sign up for health insurance, you will have to pay a tax in the following range: […]
WSJ: Connecticut Follows Trenton and Albany up the Tax Charts
The Wall Street Journal takes Connecticut Gov. Jodi Rell to task for her proposal to raise income taxes on individuals with incomes above $500,000 from 5% to 6.5% this morning… The editorial titled “Jodi Corzine” pulls no punches: Connecticut grabs $7,007 in state and local taxes per man, woman and child resident, according to the […]
WSJ: Obama Advisers Set Groundwork to Raise Taxes on Middle Class
You don’t have to be an economist to realize the Obama Administration’s budget numbers don’t add up and that he’s going to have raise taxes on more than just those earning more than $250,000.00 to pay for his agenda. With that in mind it’s not surprising that White House economist Larry Summers and Treasury Secretary […]
Steny Hoyer: Idiot
From CNSNews.com (emphasis mine): House Majority Leader Steny Hoyer (D-Md.) said that job growth and economic recovery would not be harmed by a Democratic plan to increase income taxes by $540 billion to pay for their health-care reform proposal because the tax hikes would not affect small businesses. Hoyer also said he could not think of any small business […]
House Passes Cap and Tax Bill 219-212
The House of Representatives passed President Barack Obama’s massive Cap and Trade energy tax bill by a vote 219-212 yesterday… 211 Democrats and eight Republicans voted for the bill. WASHINGTON — Landmark legislation to curb U.S. greenhouse-gas emissions was approved by the House of Representatives in a close vote late Friday, securing an initial victory […]
Bloomberg.com: House Health-Care Bill to Include $600 Billion in Tax Increases
Bloomberg.com is reporting that the health care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid: June 12 (Bloomberg) — Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to […]
Bernanke’s Deficit Warning
There’s been a fair bit of buzz about Federal Reserve Chairman Ben Bernanke’s remarks about the need for deficit reduction during his testimony before Congress yesterday. Many commentators are interpreting Chairman Bernanke’s as bad news for Obamanomics and are arguing that deficit fears will force him to scale back his spending agenda. I disagree. I […]
Democrats Considering a National Sales Tax?
It looks like the cats out of the bag… With the Federal Government now borrowing nearly 50 cents of every dollar spent it looks like the Obama Administration and Democrats in Congress are considering a national sales tax or “Value Added Tax” (VAT) to pay for their out of control spending: With budget deficits soaring […]
Obama’s Tax Cut May Include a Rude Surprise for Some Taxpayers
Millions of taxpayers could be in for a rude surprise next spring thanks to Pres. Obama’s “Making Work Pay” tax credit: WASHINGTON (Map, News) – Millions of Americans enjoying their small windfall from President Barack Obama’s “Making Work Pay” tax credit are in for an unpleasant surprise next spring. The government is going to want […]
Tea Party Impact: Connecticut Republicans Introduce No Tax-Increase Budget
Republican legislators in Connecticut yesterday introduced a no tax-increase budget proposal… According to State Rep. Larry Cafero (R-Minority Leader), the Tax Day Tea Parties held around the state sent a very clear message “What was, sort of, symbolized by the demonstrations yesterday in Hartford, and all over, is, people are saying, ‘We can’t afford our […]