Bloomberg.com is reporting that the health care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid: June 12 (Bloomberg) — Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to [...]
Bloomberg.com: House Health-Care Bill to Include $600 Billion in Tax Increases
June 12, 2009 By Leave a Comment
Democrats Considering a National Sales Tax?
May 27, 2009 By 1 Comment
It looks like the cats out of the bag… With the Federal Government now borrowing nearly 50 cents of every dollar spent it looks like the Obama Administration and Democrats in Congress are considering a national sales tax or “Value Added Tax” (VAT) to pay for their out of control spending: With budget deficits soaring [...]
Tea Party Impact: Connecticut Republicans Introduce No Tax-Increase Budget
April 17, 2009 By Leave a Comment
Republican legislators in Connecticut yesterday introduced a no tax-increase budget proposal… According to State Rep. Larry Cafero (R-Minority Leader), the Tax Day Tea Parties held around the state sent a very clear message “What was, sort of, symbolized by the demonstrations yesterday in Hartford, and all over, is, people are saying, ‘We can’t afford our [...]
Sales Tax Revenue & Housing Starts Fall
April 16, 2009 By Leave a Comment
I don’t have any particular comments I just wanted to point out two stories that may have slipped under the radar, the first from yesterday’s Wall Street Journal highlights the sharp decline in state and local sales tax revenue in four quarter of 2008: State and local sales-tax revenue fell more sharply in the fourth [...]
Unintended Consequences: AIG Bonus Tax Could Have Painful Side Effects
March 23, 2009 By 1 Comment
Haste makes waste my grandmother used to say… When it comes to legislation haste often leads to unintended consequences. Take for example congresses rush to pass a 90 percent tax on the retention bonuses paid to executives at AIG (emphasis mine): Lawmakers bellowed with outrage last week following revelations that AIG was paying millions in [...]
Damn the Constitution, Full Speed Ahead!
March 19, 2009 By Leave a Comment
This is beyond priceless: WASHINGTON — The House gave strong approval to legislation intended to recoup bonuses paid by American International Group Inc. and other recipients of federal aid, after a sharp-edged debate that dramatized populist outrage over the government’s sweeping efforts to prop up the nation’s financial system. The legislation was rushed to the [...]
Christina Romer: Insurance Taxes Not Off The Table
March 16, 2009 By Leave a Comment
One of President Barack Obama’s top economic advisers, Christina Romer, said during an appearance on “Meeting the Press” yesterday that the White House was opposed to taxing health insurance, but that she wouldn’t rule it out. When you couple Ms. Romer’s remarks on “Meet the Press” with this Sunday New York Times story you have [...]
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