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Taxes Tag

Posted by William A. Jacobson on August 01, 2010 25 Comments

Allowing people to keep more of what they earn is a horrible giveaway tantamount to welfare for the rich, rendering anyone who would suggest such a thing evil and greedy.That attitude is the fundamental public policy prescription of the Democratic Party and supportive economists, as...

Posted by William A. Jacobson on July 18, 2010 13 Comments

There were two important developments recently in the continued unraveling of the Obamacare public relations BS.First, the Obama administration cemented its legal position that the health care mandate is a tax, which means that Obama is raising taxes on people making less than $250,000 a...

Posted by William A. Jacobson on June 27, 2010 6 Comments

...[youtube=http://www.youtube.com/watch?v=NO13_tJ6x44]Update: A reader e-mailed me as follows:While Biden’s remark demonstrates the hubris of the Governing Class, Obama’s Ex-Im Bank Board takes the food off their tables.See: http://www.jsonline.com/business/97225544.htmlWherein, for POLITICAL and IDEOLOGICAL reasons alone, a Milwaukee success story may lose 1,000 employees AND a $600++ million...

Posted by William A. Jacobson on June 24, 2010 19 Comments

Saw this yesterday while on a walk in the most pro-Obama voting state in the country:What most amazed me was that someone was willing to put such a bumper sticker on the car. In 2008 people were afraid to use McCain/Palin bumper stickers for fear...

Posted by William A. Jacobson on February 23, 2010 5 Comments

The pharmaceutical industry is under attack by the Obama administration and Democrats for supposedly obscene profits.Despite the industry's support for Democratic health care efforts, reached last spring in exchange for certain protections, Obama continues to demonize the industry. Obama's new plan, rolled out yesterday, increased...

Posted by William A. Jacobson on February 02, 2010 6 Comments

Understandably, the raw numbers in Obama's budget -- both deficits and taxes -- are receiving huge attention.There is another aspect which makes the raw numbers even more pernicious. Many of the new tax increases are a function of the taxpayer's overall income, such as caps...

Posted by William A. Jacobson on February 02, 2010 7 Comments

Mission almost accomplished. Fail to the Chief: Even with tax hikes and spending cuts, Mr. Obama's budget foresees a record budget deficit of $1.6 trillion this fiscal year, sliding down to $706 billion in red ink by 2014, only to begin rising again as the...

Posted by William A. Jacobson on February 01, 2010 29 Comments

Raising tax rates on high income earners is the key to the Obama way, both during the campaign and in his latest budget and tax proposals. Taxing the wealthy, or rather, taxing those making over $250k a year, is the gospel according to Obama.Obama is...

Posted by William A. Jacobson on December 21, 2009 6 Comments

What did the tanning industry ever do to deserve being singled out for a new 10% surtax on all indoor tanning services in Harry Reid's Manager's Amendment?The tanning tax was a substitute for the cosmetic surgery tax (a/k/a Botax) in the prior bill.This may seem...

Posted by William A. Jacobson on December 07, 2009 15 Comments

Yow. Per Rasmussen poll just released (h/t HotAir), Tea Party Tops GOP on Three-Way Generic Ballot:In a three-way Generic Ballot test, the latest Rasmussen Reports national telephone survey finds Democrats attracting 36% of the vote. The Tea Party candidate picks up 23%, and Republicans finish...

Posted by William A. Jacobson on December 02, 2009 4 Comments

Congratulations Senior Citizens. Your self-appointed advocate, AARP, has intervened again in favor of Democratic health care restructuring proposals:As the Senate prepares to vote on a controversial Medicare funding amendment to the $848 billion health care bill, the seniors lobby has weighed in with a letter...

Posted by William A. Jacobson on December 02, 2009 4 Comments

Via the TaxProf, GOP Introduces Geithner Penalty Waiver Act:Congressmen John Carter (R-TX) and Lynn Westmoreland (R-GA) yesterday introduced the Geithner Penalty Waiver Act, requiring that the IRS assess the same penalty against U.S. taxpayers that came forward in the UBS tax fraud investigation as paid...

Posted by William A. Jacobson on November 18, 2009 14 Comments

Harry Reid and his Democratic band of friends want to impose a 5% excise tax on all elective cosmetic surgeries (those which are not needed to repair deformaties or injuries caused by an accident or disfiguring disease). It's all in Section 9017 of Harry Reid's...

Posted by William A. Jacobson on November 11, 2009 8 Comments

Is it possible to pay more than 100% of your last dollar of income in taxes? And if it were, would you bother to earn that last dollar?Herein lies the key to how Democrats will obtain a permanent, economically-enslaved majority if universal income-based health care...

Posted by William A. Jacobson on October 11, 2009 2 Comments

There is one supreme Democratic idiocy in the health care debate which has not received enough attention. The entire focus of the Democratic proposals -- whether HR3200, the Senate HELP Committee bill, the Baucus Concepts, or the Obama non-plan -- is to increase the cost...

Posted by William A. Jacobson on October 10, 2009 15 Comments

Karl Marx famously wrote that "history always repeats itself, the first time as tragedy, and the second as farce."Barack Obama has reversed these historical forces. With Obama, farce repeats itself as history.As a neophyte politician, Obama was elected to the Illinois State Senate when he...

Posted by William A. Jacobson on October 09, 2009 1 Comment

The Congressional Budget Office released its Monthly Budget Report for fiscal year 2009. Most of the news reports have focused on the deficit numbers, up to $1.4 trillion: CBO estimates that the federal budget deficit was about $1.4 trillion in fiscal year 2009, $950 billion...

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