Taxation

Know-Nothing-in-Chief

The Weekly Standard | Fred Barnes | Aug. 3, 2009

There’s no evidence Obama has even a sketchy grasp of economics.

Is President Obama an economic illiterate? Harsh as that sounds, there’s growing evidence he understands little about economics and even less about economic growth or job creation. Yet, as we saw at last week’s presidential press conference, he’s undeterred from holding forth, with seeming confidence, on economic issues.

Obama professes to believe in free market economics. But no one expects his policies to reflect the unfettered capitalism of a Milton Friedman. That’s too much to ask. Demonstrating a passing acquaintance with free market ideas and how they might be used to fight the recession–that’s not too much to ask. [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

Socialist America sinking

WND | Patrick Buchanan | July 18, 2009

After half a century of fighting encroachments upon freedom in America, journalist Garet Garrett published “The People’s Pottage.” A year later, in 1954, he died. “The People’s Pottage” opens thus:

“There are those who still think they are holding the pass against a revolution that may be coming up the road. But they are gazing in the wrong direction. The revolution is behind them. It went by in the Night of Depression, singing songs to freedom.” [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

Stop The Madness That’s Killing Jobs

Investor’s Business Daily | July 2, 2009

Stimulus: More grim news — 467,000 jobs lost in June, with unemployment hitting a 26-year high of 9.5%. Some people are rightly starting to wonder: Where’s that stimulus we were promised?

The stock market’s reaction on Thursday said it all — with the major indexes plunging 2.4% to 2.9% on the news of a continued job hemorrhage. Despite some economic green shoots here and there, no one’s sure when jobs will start growing again. [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

Health Bill in House Relies on Wealth Tax

More oppressive regulations and tax increases on the horizon.
Wall Street Journal | Greg Hitt and Martin Vaughan | July 11, 2009

WASHINGTON – House Democrats plan to pay for their health-care legislation with a big tax increase on wealthy households, aiming to raise $540 billion over the next decade with a package of surtaxes on families making $350,000 or more.

The tax increase is the financial cornerstone of legislation that seeks to make good on President Barack Obama’s call to expand health-insurance coverage to tens of millions of uninsured Americans, while attempting to offset the cost and avoid expanding the federal budget deficit. [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

When the Obama Backlash Comes

American Thinker | Jeff Lukens | Apr. 29, 2009

The contradictions between Obama’s words and actions are many. He opposes big government, and then he vastly expands it. He says he favors bipartisanship, but doesn’t practice it. He says he is against earmarks, and then signs the largest pork package in history. And that is just to name a few.

Such inconsistencies are contributing to a lack of confidence in Obama and his economic policies. The budget deficits he proposes are staggering. The trillions of dollars he wants to spend are incomprehensible. There is no evidence that stimulative government spending even works. Obama is apparently racing to remake America in a socialist mold before public sentiment turns against him. One wonders whether his political capital will run out before financial capital of the country runs out. [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

On The Road To Socialism? We’ve Arrived!

Investor’s Business Daily | Patrick J. Buchanan | March 3, 2009

In his campaign and inaugural address, Barack Obama cast himself as a moderate man seeking common ground with conservatives. Yet his budget calls for the radical restructuring of the U.S. economy, a sweeping redistribution of power and wealth to government and Democratic constituencies. It is a declaration of war on the right.

The real Obama has stood up and lived up to his ranking as the most left-wing member of the Senate. [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

Four big problems with cap-and-trade

Massive tax increases, energy regulation, high prices for electricity, and reduced econmic growth as far as the eye can see. And it’s only week six (6) of Obama’s catastrophic presidency.
DC Examiner | Irwin M. Stelzer | Mar. 6, 2009

Obama hopes to adopt a cap-and-trade system similar to Europe’s Emissions Trading Scheme. The government will decide how many tons of CO2 can safely be emitted, and then auction off permits to emitters of these greenhouse gases. Expected proceeds [tax increases on all consumers] over ten years: $645 billion.

Polluters [C02 is not a polutant] who can cut their emissions at low cost will be able to do just that, and sell their permits to companies that find it cheaper to buy permits than to clean up their production processes. Not a bad idea — in theory. But here’s the rub — or more precisely, rubs. [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

Jesus Loves Global Taxation?

FrontPageMagazine.com | Mark D. Tooley | Mar. 3, 2009

Activists at the World Social Forum (WSF), having gathered 130,000 anti-globalization activists to Belem, Brazil across 6 days early in February, enthusiastically decided that global taxation is the solution to the economic meltdown.

Meeting annually since 2001, the WSF rallies anti-capitalist crusaders from around the world, fancying itself as the anti-imperialist alternative to the World Economic Forum that meets concurrently in Davos, Switzerland. More specifically, it professes to be an “alter-globalization” movement that resists “exploitative economic globalization” and promotes “value-based forms of social and economic organization.” [Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail

Soaking The Rich Means Crippling Churches, Charities, and Home Values

Hugh Hewitt Blog | Hugh Hewitt | Feb. 27, 2009

President Obama’s budget is built on a massive tax hike on upper income families. From the Washington Post:

Individuals who earn more than $200,000 a year and families who make more than $250,000 would also lose the tax cuts enacted during the Bush administration, meaning their top income tax rate would rise to 39.6 percent from 35 percent, their investment income would be taxed at 20 percent rather than 15 percent and their deductions for mortgage interest, state and local taxes and charitable contributions would be reduced.

[Read more…]

Facebooktwitterredditpinterestlinkedintumblrmail