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Taxes Tag

Posted by William A. Jacobson on March 13, 2011 16 Comments

The 400 wealthiest people control more wealth than that controlled by bottom economic half the population. Michael Moore said it, and PolitiFact checked it, so it must be true.So what?There is no limit to wealth in a free-market, capitalist society, unlike a socialist society where government...

Posted by William A. Jacobson on February 08, 2011 11 Comments

The AP (via CBS News) has a headline sure to warm the hearts of the Obama communications team:  High Taxes? Actually, They're at a 60-Year Low:Actually, as a share of the nation's economy, Uncle Sam's take this year will be the lowest since 1950, when...

Posted by William A. Jacobson on January 08, 2011 10 Comments

Mitch Daniels, Republican of Governor of Indiana and prospective presidential candidate, is having some fun with proposed tax increases in neighboring Illinois, as reflected in Daniels' interview with The Northwest Indiana Times (h/t Illinois Review):Gov. Mitch Daniels thinks Illinois' proposed 75 percent hike in its corporate...

Posted by William A. Jacobson on January 06, 2011 4 Comments

From the producer of Feminism Explained and Meet the Liberal Elite. Thanks again to reader Robin for the link.[youtube=http://www.youtube.com/watch?v=vgTFiMUF4kY?fs=1]Once again, liberal consciences were put to the test.--------------------------------------------Follow me on Twitter, Facebook, and YouTubeVisit the Legal Insurrection Shop on CafePress!...

Posted by William A. Jacobson on December 22, 2010 11 Comments

This is not the post you probably were expecting from me given my harsh -- and as always prescient -- criticism of Republicans in the lame duck session.  I was screaming "capitulation!" before screaming "capitulation!" was fashionable.Notwithstanding the lame duck session, give Mitch McConnell some credit...

Posted by William A. Jacobson on December 21, 2010 4 Comments

Three law professors have established a website (h/t RightCoast via Instapundit) where people can calculate how much they are saving by the extension of the current marginal tax rates and then donate that amount to one of four selected charities.The website, GiveItBackForJobs.org, states that the...

Posted by William A. Jacobson on December 20, 2010 6 Comments

Republicans in the Senate collectively agreed that there would be no votes on any legislation unless and until expiring marginal tax rates and the budget continuing resolution were passed.That agreement held together through the passage of "tax deal" and the defeat of the Omnibus bill.Then...

Posted by William A. Jacobson on December 17, 2010 2 Comments

Via Public Secrets:[youtube=http://www.youtube.com/watch?v=sHcXtG_C3qM?fs=1]But, could we have held the tax rates steady without the Christmas Tree ornaments hung onto the bill?--------------------------------------------Follow me on Twitter, Facebook, and YouTubeVisit the Legal Insurrection Shop on CafePress!...

Posted by William A. Jacobson on December 17, 2010 0 Comments

The Omnibus bill was pulled last night by Harry Reid after several Republicans who were considering voting for it reversed course.The Omnibus bill was defeated because of you and millions of others like you who let their voices be heard on the internet, radio airwaves, through...

Posted by William A. Jacobson on December 16, 2010 15 Comments

Breaking news that Harry Reid is pulling the Omnibus spending bill in the face of the loss of possible Republican votes: The Senate majority leader, Harry Reid of Nevada, said Thursday night that he was abandoning efforts to pass a $1.2 trillion spending measure to finance...

Posted by William A. Jacobson on December 16, 2010 14 Comments

I'm not sure what Republicans in the Senate can do to stop the Ominibus Monstrosity since there appear to be several Republicans likely to vote for the bill (Collins, Bond, Bennett, Voinivich).  Regardless, the Republican leadership and membership should do anything and everything to stop...

Posted by William A. Jacobson on December 16, 2010 13 Comments

If I were a completely cynical political type, I'd say to hell with the merits of the "tax deal," because we just found the best reason to vote No.  As reported by The Hill (h/t HotAir), Obama tells lawmakers not passing tax deal could end...

Posted by William A. Jacobson on December 16, 2010 1 Comment

As reported by TaxProf, Professor Richard Schmalbeck at Duke is worried that high net worth individuals nearing death -- or their relatives -- will accelerate the end due to the looming increase in the estate tax:Unless Congress acts very quickly, there will be blood as...

Posted by William A. Jacobson on December 15, 2010 4 Comments

I told you the liberal Democrats who were protesting the "tax deal" would not buck Obama, and would fall in line.So no surprise to see this headline at The Hill, Liberals giving up tax fight:A House liberal who has led the effort to stop President...

Posted by William A. Jacobson on December 15, 2010 6 Comments

Harry Reid lowered the boom yesterday, rolling out a $1.1 trillion, 1,924-page Omnibus Budget bill, which was sure to infuriate Republicans in the Senate.To roll out such a provocative bill at a time when Reid has an extraordinarily tight calendar on a variety of social and...

Posted by William A. Jacobson on December 14, 2010 8 Comments

I've written before about Barack Obama's penchant for creating strawman arguments, in which Obama presents an exaggerated and misleading characterization of Republican proposals in order to make Obama's own policy seem like the only reasonable choice.Most typically, Obama will frame the sentence beginning with words similar...

Posted by William A. Jacobson on December 13, 2010 15 Comments

As I write, the "tax deal" worked out between Obama and Republicans in Congress has passed its first procedural hurdle, with more than 60 Senators voting to open debate on the legislation.As I have pointed out before, a marginally acceptable bill as originally announced has become an...

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