Tag Archives: tax hikes

Gun Control Is A Distraction

Gun Control Is A Distraction

Is it going too far to say that President Obama has seized on the Sandy Hook Elementary shooting as an opportunity to push an always-controversial gun control fight to distract from much more pressing issues, such as the nation’s horrendous fiscal position? President Obama has shown himself to be nothing if not the consummate opportunist.

Americans Still Upset About Smaller Paychecks Post "Fiscal Cliff"

It’s unfair that a “greedy” Congress take more out of paychecks, according to outraged Americans. Gabriella Hoffman’s paycheck is a little lighter today, thanks to a payroll tax increase that is forcing millions of Americans to make the kind of tough budget cuts their representatives in Washington lawmakers seem unwilling to tackle. Hoffman, a 21-year-old

Republican States Run Surpluses, Democrat States Run Deficits

One of the wonderful things about our federalist system of government is that our states can act as “laboratories of democracy,” as Supreme Court Justice Louis Brandeis put it. Which is to say, each state can address policy issues in different way, with observable differences in results. It’s interesting to apply that to fiscal issue.

Heidi Heitkamp: Don't Tie Spending Cuts To Debt Ceilling

Senator Heidi Heitkamp is quick to name as her mentor the man she replaced in the Senate, Kent Conrad. That seems apt, as Conrad’s legacy of talking tough about the debt and deficits while simultaneously being a wet blanket for any proposals to actually rein in government spending is alive in well in Heitkamp. Case

Even After Tax Hikes, Obama Maintains "Rich Should Pay Their Fair Share"

If you thought, now that President Obama and his liberal friends got their tax hikes on the rich, we could start talking about meaningful spending cuts you can forget it. “Obviously, there is still more to do when it comes to reducing our debt,” Obama said in a video released by his (seemingly never-ending) campaign.

It's A Spending Problem

Courtesy of Yuval Levin at National Review, here’s another look at the “fiscal cliff” deal’s impact on the nation’s debt and deficit problem: And then there’s this comparison of spending and revenue, each as a percentage of GDP: Going back to 1973, we’ve never been able to hold federal revenues much above about 18% of

We've Taxed The Rich, Now What?

I won’t tell you that the fiscal cliff deal passed by Congress yesterday was a good thing. I think going over the cliff would have been better for the country. The spending cuts in the sequestration were more meaningful, and the tax hikes were more broad. I don’t think we’re going to see an appetite

House Passes "Fiscal Cliff" Deal That Makes Debt And Deficit Projections Worse

The House has passed the “fiscal cliff” deal the Senate passed early this morning. The media, of course, is reporting this as “crisis averted.” Which is an absurd notion. Via Zero Hedge, here’s a chart showing the CBO’s projected annual revenues from these tax increases (assuming “the rich” sit still for them and don’t move

Rebutting Senator Hoeven's Lame Explanation For Voting For The "Fiscal Cliff" Deal

Earlier today Senator John Hoeven’s office sent out a detailed explanation justifying his yes vote for the “fiscal cliff” deal. You can read the full press release here. I thought I’d respond to some of the claims the Senator is making. First, Hoeven says he voted for it because it maintains tax relief for the

Shocker: "Fiscal Cliff" Deal Includes $330 Billion In New Spending, Adds $4 Trillion To Deficits

About those “spending cuts” that supposedly balance the $620 billion in tax hikes in the “fiscal cliff” deal passed by the Senate last night. Turns out, the bill increases both national spending and the ten-year window of budget deficits significantly. The “fiscal cliff” deal that was designed to save money actually includes $330.3 billion in

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