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Reconciliation Bill Adds Even More Taxes
A jubilant President Obama put his signature on health care legislation yesterday, but the work isn’t done quite yet. The U.S. Senate must pass the Reconciliation Act of 2010, making a number of tax...
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Chart of the Week: Tax Burden Is Rising to Highest Level in History
President Obama will meet with congressional leaders tomorrow to resume talks on the debt limit. The rare Sunday meeting between top Republicans and Democrats could signal the start of “hard...
View ArticleTop 10 Reads: July 15, 2011
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Heritage Foundation comes out against McConnell plan – Amanda Carey Sea Treaty puts U.S....
View ArticleRep. Dave Schweikert: Tax Increases Won’t Solve Debt Crisis
Rep. Dave Schweikert (R-AZ) attempted on Tuesday to explain the debt debate — how the budget gap should be closed — in terms everyone can understand. Schweikert noted on the House floor that proposals...
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Chart of the Week: Taxing the Wealthy to Cover Future Deficits Won’t Work
Democrats on the Joint Select Committee on Deficit Reduction last week floated a proposal that includes massive tax increases on wealthy Americans. While their plan would also include some cuts to...
View ArticleGovernment Unions Support California Tax Hike
Two well-connected government unions in California are teaming with Gov. Jerry Brown to support a multibillion-dollar tax increase. The California Teachers Association and Service Employees...
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Chart of the Week: Obamacare’s 17 New Taxes
Americans who feel overtaxed already are in store for a shocker: Obamacare will add 17 new taxes or penalties for a whopping cost of $502 billion over its first 10 years. This week’s chart illustrates...
View ArticleChart of the Week: Taxes Soaring Past Highest Level Ever
Americans are facing an unprecedented $494 billion tax hike on Jan. 1, 2013. It’s been dubbed “Taxmageddon” given the economic devastation it would cause. Conventional wisdom suggests lawmakers in...
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Morning Bell: How Taxmageddon Will Impact You
“I’ve said that this is a make-or-break moment for the middle class, and I believe it,” President Obama told an Ohio crowd yesterday. Indeed it is—because in a sluggish economy, American taxpayers are...
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Taxmageddon Is Slowing the Economy Now
The uncertainty caused by Taxmageddon—the one-year $494 billion tax increase that looms on January 1, 2013—is strong enough to slow the economy months before it actually strikes. In fact, it is...
View ArticleErnst and Young: Obama’s Tax Increase Would Kill 710,000 Jobs
A new study conducted by Ernst and Young proves conclusively that the President’s tax increase would be devastating to the economy and jobs. The study finds that, if Congress misguidedly adopted...
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What Taxmageddon Really Means for Families
Taxmageddon is approaching closer by the day. Much of the focus has been on the impact Taxmageddon will have on the economy. But just how will this massive tax hike impact America’s most fundamental...
View ArticleWelfare Work Requirements Respect Human Dignity
The Obama Administration has effectively gutted the work requirements of the bipartisan welfare reforms of 1996. In doing so, it is trampling on the central policy that made welfare reform work. The...
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Morning Bell: Another Recession Is Imminent
Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent it. We are facing the largest tax...
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Romney’s Tax Plan Doesn’t Have to Raise Taxes on the Middle Class
The Tax Policy Center (TPC) made headlines with its analysis of Governor Mitt Romney’s tax reform plan. The authors of the TPC report found, incorrectly as it turns out, that Romney’s plan would...
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Bloomberg and Obama Misrepresent Tax Hikes on Small Business
In the recent presidential debate, President Obama said that only 3 percent of small businesses would pay higher rates under his plan to increase the top two marginal tax rates. The implication was...
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Questioners at Tonight’s Debate Face $4,492 Tax Increase Next Year
President Obama and former Governor Mitt Romney won’t be the only people in the spotlight at tonight’s presidential debate in Hempstead, NY. About 100 undecided voters from Nassau County on Long Island...
View ArticleMorning Bell: GOP Leaders Capitulate on Core Conservative Principles
House Speaker John Boehner (R-OH) and Republican leaders have done it once again. Their latest fiscal cliff proposal capitulates on core conservative principles, yielding woefully inadequate...
View ArticleMorning Bell: Conservatives Stand Their Ground
“When you can’t make them see the light, make them feel the heat.” President Ronald Reagan’s sound advice rang true yesterday. Grassroots activists and conservative groups, led by Heritage Action for...
View ArticleMorning Bell: ’Twas the Night Before Cliff-mas
Christmas arrives this year at a time when our nation is on the brink of the fiscal cliff. With time running out for President Obama and Congress to reach an agreement, this Christmas Eve we bring to...
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Congressional Budget Office Shows Senate Bill Is $600 Billion Tax Hike
Credit: Paul J. Richards/AFP/Getty Images/Newscom The Congressional Budget Office (CBO) just now released its score of the bill the Senate passed early this morning while everyone was celebrating the...
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DeMint: Obama Tax Hikes Will Do More Harm Than Sequester (VIDEO)
Heritage Foundation President-Elect Jim DeMint says Americans shouldn’t be fooled by President Obama’s scare tactics on sequestration. Federal cuts won’t harm the U.S. economy, DeMint told Fox News’...
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Senate Democrats Want Unnecessary $1.5 Trillion Tax Increase
Chris Maddaloni/CQ Roll Call/Newscom It has been nearly four years since the last time the Senate passed a budget. In that time, it hasn’t as much as proposed a budget. That at long last changed...
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Obama Budget: CBO Shows $1 Trillion Tax Hike, Fake Spending Cuts
The Congressional Budget Office’s (CBO) official score of President Obama’s budget shows in numbers a vision for economic decline in America. The President imposes a tax increase totaling $1.1 trillion...
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The IRS, Obamacare, and You: The Taxes
With the IRS under fire for its improper targeting of tea party groups, many Americans have also raised concerns about the agency’s activities relating to Obamacare. This week, we’ll be taking a look...
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For the Record: Tax Increases Are Harmful, but Europe Has Pursued Them Anyway
Dr. Salim Furth at a Senate Budget Committee Hearing. Heritage economist Salim Furth gave testimony last week to the Senate Budget Committee, reminding the Senators that economic research shows that...
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Reid Throws Major Roadblock in Front of Tax Reform
Credit: Lauren Victoria Burke/WDCPIX.COM Senate Majority Leader Harry Reid (D–NV) has just thrown a roadblock in front of tax reform that could stall the strong momentum that has been building for...
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Obama’s New “Grand Bargain” Is Another Tax Increase
Jewel Samad/AFP/Getty Images President Obama gave his second in series of summer speeches on the economy today. Like his first speech last week, he recycled several old policies that he’s trotted out...
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Japan’s Revolving Door Tax
YOSHIKAZU TSUNO/AFP/Getty Images/Newscom Prime Minister Shinzo Abe is likely to increase Japan’s sales tax from 5 percent to 8 percent next year. Abe and his close ally Haruhiko Kuroda, head of the...
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Tax Increases Really Hurt Growth and Jobs
Some lawmakers, led by Senate Budget Committee chair Patty Murray (D–WA), are seeking to raise taxes in the budget conference to replace the modest spending reductions referred to as sequestration....
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