I don’t have any particular comments I just wanted to point out two stories that may have slipped under the radar, the first from yesterday’s Wall Street Journal highlights the sharp decline in state and local sales tax revenue in four quarter of 2008: State and local sales-tax revenue fell more sharply in the fourth […]
Taxes
Unintended Consequences: AIG Bonus Tax Could Have Painful Side Effects
Haste makes waste my grandmother used to say… When it comes to legislation haste often leads to unintended consequences. Take for example congresses rush to pass a 90 percent tax on the retention bonuses paid to executives at AIG (emphasis mine): Lawmakers bellowed with outrage last week following revelations that AIG was paying millions in […]
Damn the Constitution, Full Speed Ahead!
This is beyond priceless: WASHINGTON — The House gave strong approval to legislation intended to recoup bonuses paid by American International Group Inc. and other recipients of federal aid, after a sharp-edged debate that dramatized populist outrage over the government’s sweeping efforts to prop up the nation’s financial system. The legislation was rushed to the […]
Christina Romer: Insurance Taxes Not Off The Table
One of President Barack Obama’s top economic advisers, Christina Romer, said during an appearance on “Meeting the Press” yesterday that the White House was opposed to taxing health insurance, but that she wouldn’t rule it out. When you couple Ms. Romer’s remarks on “Meet the Press” with this Sunday New York Times story you have […]
Barack Obama’s 2% Illusion
From the Wall Street Journal: President Obama has laid out the most ambitious and expensive domestic agenda since LBJ, and now all he has to do is figure out how to pay for it. On Tuesday, he left the impression that we need merely end “tax breaks for the wealthiest 2% of Americans,” and he […]
A Tax For Paying Your Taxes???
Back to the twilight zone… New York Gov. David Patterson has proposed a few interesting new taxes, including those on non-diet soda, digitally delivered entertainment services and haircuts, but the one that is sure to raise a few eyebrows is the $10.00 fee for filing your state income taxes on a paper return. ALBANY — […]
New York Governor Wants to Tax What???
It’s a slow news day and I reaching a bit with this but I can’t resist planting tongue firmly in cheek and poking a little fun at one of the silliest tax proposals I seen in quite a while. New York Gov. David Patterson recently proposed a so called iPod tax that would apply to […]
Newt: Let’s Have a Real Middle-Class Tax Cut
I’ve been a little out of pocket over the last couple of days so guess you could say I’m playing a bit of catchup with this post. I suspect most of you read Newt Gingrich’s Wall Street Journal Op Ed on middle class tax cuts: Let’s Have a Real Middle-Class Tax Cut Obama’s tax credits […]
Video: Congressman Jim Moran Talks About Redistributionism
This should scare the hell out of anyone who works for a living: We have been guided by a Republican administration who believes in the simplistic notion that people who have wealth are entitled to keep it and they have an antipathy towards redistributing wealth and they may be able to sustain it for a […]
Heritage Foundation to Barack Obama: Please Stop Lying About Our Postion On Your Tax Plan
Heritage Foundation lawyer Alan P. Dye sent the following letter to the Obama campaign requesting that they withdraw advertisements that misrepresent the opinion of the Heritage Foundation senior policy analyst Rea Hederman. Dear Senator Obama: Two recent campaign advertisements seriously misrepresent the views of my client, The Heritage Foundation. They suggest, quite falsely, that The […]
Miami Dolphins Owner Wants to Sell His Stake Before Obama Raises Taxes
Miami Dolphins owner Wayne Huizenga said Sunday that he wants to sell up to 45 percent more of the team to Stephen Ross and that the presidential election is among the issues weighing on his decision. From SunSentinal.com: Dolphins owner H. Wayne Huizenga said Sunday no date has been set for selling up to 45 […]
Fred Smith: Washington Is the Problem
There’s a great interview with FedEX CEO Fred Smith in today’s Wall Street Journal. The interview covers a lot of ground, the economy, taxes, free trade and even John McCain… It’s well worth reading. Fred Smith is in an agitated state. He’s just returned from a Washington Redskins game — played in FedEx field in […]
Poll Question: Who Won The Final Presidential Debate?
[poll id=”9″] Overall I thought this was John McCain’s best debate. Unfortunately, I don’t think it was a game changer. In fact I think the plumber, Joe Wurzelbacher, was the only real winner. A couple of quick points: 1) The Secret Service says they have yet to find anyone who can backup that Scranton ‘Kill […]
100 Economists Warn That Barack Obama’s Tax Proposals Could Throw the US Economy into Recession
I’ve been debating whether to post this all day… Yes, it’s from the McCain campaign but ultimately I think it would be foolish to dismiss the opinion of a group of experienced economists out of hand. Economists Statement On Barack Obama’s Risky Economic Proposals 100 ECONOMISTS WARN THAT WITH CURRENT WEAK FINANCIAL CONDITIONS BARACK OBAMA’S […]
Gas Prices and Politics
The only thing worse than a trip to the gas pump these days is listening to John McCain, Hillary Clinton and Barack Obama talk about energy policy. John McCain and Hillary Clinton both say they’ll bring us relief at the pump with a temporary moratorium on the 18.4 cent per gallon federal gas tax. To […]