Taxation

Like Father, Like Son – Obama’s Father: Government 100% Taxation of Income OK

Investor’s Business Daily | Aug. 14, 2008

As a Nairobi bureaucrat, Barack Hussein Obama Sr. advised the pro-Western Kenyan government there to “redistribute” income through higher taxes. He also demonized corporations and called for massive government “investment” in social programs.

Writing in a 1965 scholarly paper, Obama’s late father slammed the administration of then-President Jomo Kenyatta for moving the Third World country away from socialism toward capitalism. He chafed at the idea of relying on private investors — who earn “dividends” on their venture capital — to develop the country’s fledgling economy. [Read more…]

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Obamanomics

American Thinker | Amil Imani | Oct. 25, 2008

Obama’s economic plan is a recipe for long-lasting disaster. Keep in mind that wrecking anything, as opposed to building things, requires very little time and effort. Obama’s plan is deceptively attractive, while in reality it is a huge wrecking ball that will capsize the already listing ship of our economy. Here is a partial list of reasons why. Judge for yourself. [Read more…]

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Obama’s Communist Ideals Revealed in Public

New York Post | Charles Hurt | Oct. 15, 2008

You won’t find it in his campaign ads, but Barack Obama let slip his plans to become a modern-day Robin Hood in the White House, confiscating money from the rich to give to the poor.

Conservatives yesterday ripped Obama after he was caught on video telling an Ohio plumber that he intends to take the profits of small-business owners and “spread the wealth around” to those with lesser incomes.

The fracas over Obama’s tax plan broke out Sunday outside Toledo when Joe Wurzelbacher approached the candidate. Wurzelbacher said he planned to become the owner of a small plumbing business that will take in more than the $250,000 amount at which Obama plans to begin raising tax rates. “Your new tax plan is going to tax me more, isn’t it?” the blue-collar worker asked. [Read more…]

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US States Lead the World in High Corporate Tax Rates

TaxProf Blog | Paul L. Caron | Mar. 24, 2008

The Tax Foundation has released U.S. States Lead the World in High Corporate Taxes:
Many states impose state corporate income taxes at rates above the national average of 6.6%. Iowa, for example, imposes the highest corporate tax rate of 12%, followed by Pennsylvania’s 9.99% rate and Minnesota’s 9.8% rate.

When added to the federal rate, these states tax their businesses at rates far in excess of all other OECD countries. When compared to other OECD countries… 24 U.S. states have a combined corporate tax rate higher than top-ranked Japan. [Read more…]

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Baby, Baby It’s a Cold World

NRO | Peter Ferrara | Jun. 2, 2008

Explaining global warming to Congress. – Lord Christopher Monckton, a policy adviser to former British prime minister Margaret Thatcher, was recently referenced by senior climate-science authority Fred Singer as saying: “Global warming stopped ten years ago; it hasn’t gotten warmer since 1998. . . . . And in fact in the last seven years, there has been a downturn in global temperatures equivalent on average to about [or] very close to one degree Fahrenheit per decade. We’re actually in a period . . . of global cooling.”

This is what the temperature data shows. Indeed, even global-warming advocates are now saying there won’t be any actual global warming for the next ten years or so. You can interpret that to mean the budding cooling trend will continue. [Read more…]

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What’s “Just” about Taxes?

Acton.org | Samuel Gregg | Mar. 5, 2008

Everywhere, it seems, tax is in the news. At least two U.S. presidential candidates have signaled their intention to raise taxes on higher-income earners and specifically target oil companies if they are elected.

In Venezuela, Hugo Chavez is threatening to heavily tax any food company making “excessive profits” — whatever that means — as his “21st century socialist” economy falters in its ability to perform even basic tasks such as feeding Venezuelans. [Read more…]

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Flat Tax is the Way of the Future

Most formerly communist countries are adopting capitalistic and fair Flat Tax systems, while the US continues with its socialist, unfair, and punitive Tax scheme.
Heritage Foundation | Daniel J. Mitchell, Ph.D. | Mar. 20, 2006

Thanks to globalization, many nations are adopting better tax policies. Certain politicians still believe in high tax rates, of course, but they feel compelled to move in the opposite direction since it is now increasingly easy for labor and capital to escape oppressive tax regimes by crossing national borders.

This is why so many nations had to lower personal income tax rates after the Thatcher and Reagan rate reductions – and why many nations have been lowering tax rates on business in response to Ireland’s incredibly successful 12.5 per cent corporate tax. They know the geese that lay the golden eggs will fly away if they impose bad tax law. [Read more…]

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A Few Questions In Search Of A Debate

Investor’s Business Daily | Larry Elder | Feb. 8, 2008

Some suggestions for the next Democratic debate moderator:

1. Sen. Clinton, you oppose the Bush tax cuts because they unfairly benefit the rich. Since the top 1% of taxpayers — those making more than $364,000 annually — pay 39% of all federal income taxes, don’t all across-the-board tax cuts, by definition, “unfairly” benefit the rich? [Read more…]

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