Tag Archives: tax hikes

Balanced: Democrat Budget Increases Spending By 62%, Taxes By $1.5 Trillion

Balanced: Democrat Budget Increases Spending By 62%, Taxes By $1.5 Trillion

The ideological break down in the national budget debate has folks on the right arguing for deficit reduction through spending cuts and folks on the left arguing for deficit reduction through tax increases. Yesterday Democrats unveiled a budget – their first in four years, a laughing matter apparently – which true to form proposes $1.5

The Sequester Cuts Are Anything But "Deep"

There’s a lot of media alarmism going on over automatic sequester cuts, a bi-partisan idea put forward by President Obama and embraced by Republicans, set to take place in April unless Congress intervenes. The New York Times describes them as “deep automatic spending cuts that will strike hard.” Locally, too, there is no shortage of

If You Raise Taxes On Rich People And Businesses, You Get Fewer Rich People And Businesses

After Phil Mickelson created controversy with his comments about too-high taxes, professional boxer Manny Pacquiao is refusing to fight in the United States because of our national tax rate. This is what happens when tax rates are prohibitively high. People take their business, and their wealth, to friendly tax climates: Manny Pacquiao’s chief adviser insisted

Associated Press Blames "Unyielding Republicans" For "Doing What Voters Ask"

This is, in fact, a real headline: We can laugh, but there’s a bit of unintentional truth in this. Americans voters have become schizophrenic. They want big, expansive government with lots of programs, but they also don’t want to pay for it. They vote accordingly, and what we’re left with is gridlocked government. At some

Pelosi: "It's Almost A False Argument To Say We Have A Spending Problem"

“It is almost a false argument to say we have a spending problem,” Rep. Nancy Pelosi told Fox News’s Chris Wallace today. “We have a budget deficit problem that we have to address.” She also said that “tax subsidies” should be targeted for cuts rather than spending programs. And by “tax subsidies” what Pelosi means

Video: Democrats Argue In Favor Of Burdening Poor With Tax Hikes For Their Own Good

Yesterday the North Dakota House voted down HB1387 which would have instituted a 127% tax hike on cigarettes. The bill failed on by 19 – 72 vote margin, but the debate was interesting. Rep. Glen Froseth, arguing against the bill, noted that tax hikes on tobacco use disproportionately burden the poor. But Rep. Eliot Glassheim,

Social Security May Not Make It Another Four Years

The problem with the long-term solvency of Social Security and Medicare is that the problems have always been long-term problems. It’s always been easier for Democrats to pander to short-term objections to tax hikes/benefits cuts, and for Republicans to pay nothing more than lip service to fixes, because the day of reckoning was always in

While Finally Promising To Pass A Budget, Democrats Aim Tax Hikes At Energy Industry

Senate Democrats, who apparently think budgeting is like inaugurating presidents in that it’s only to happen every four years, have finally said they’ll pass a budget in 2013 after four years of not budgeting at all. Which the sort of had to do since Republicans are making Senate budgeting a prerequisite of a debt ceiling

When You Tax Rich People You Get Fewer Of Them

Professional golfer Phil Mickelson is talking about making some drastic changes in his life thanks to both to federal tax hikes and tax increases in his home state of California: The 42-year-old golfer said he would talk in more detail about his plans – possibly moving away from California or even retiring from golf –

After Re-Electing A Bunch Of Incumbents, Americans Demand Term Limits

There is nothing that baffles me more than the term limits issue. On one hand, term limits are a pretty popular concept among Americans. Proposals to end term limits for the President are routinely panned. Voters talk about term limits endlessly, suggesting that “fresh blood” in Washington from time to time is a good thing.

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