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President Obama tells an audience member "you're welcome" for tax cuts he takes credit for.

By: Larry Walker, Jr. First of all 41% of Americans don't even file income tax returns. Secondly, out of the 59% who do file tax returns, 43.4 million out of the 136 million tax returns filed face a zero or negative tax liability. So if 32% (43.4/136) of the those who file don't owe any taxes, and if 41% don't even file income taxes, then that equals 73% who don't pay any income taxes. That leaves the rest of us. So did 95% of the 27% who actually pay income taxes get a tax cut? I doubt it, but even...

Facts Are Stubborn Things Democrats Yank Middle Class Tax Relief from National Energy Tax Bill Wednesday, June 24, 2009 * In the middle of the night, Democrats yanked any energy tax relief for American families from their National Energy Tax bill (the cap-and-trade scheme under Waxman-Markey) and replaced it with a further expansion of their welfare program --- energy stamps. * This change renders the recent CBO analysis of net household cost from the Democrats’ National Energy Tax obsolete, because CBO included the benefits of the previously proposed tax relief in its analysis. * The Democrats’ National Energy Tax will...

Fifty-four percent (54%) of U.S. voters say tax cuts for the middle class are more important than new spending for health care reform, even as President Obama’s top economic advisers signal that tax hikes may be necessary. A new Rasmussen Reports national telephone survey, taken Monday and Tuesday nights, finds that 34% disagree and say new spending for health care reform is more important. Twelve percent (12%) are not sure. It is important to note that this question asked about new government spending for health care reform rather than about the overall concept of health care reform itself. The partisan...

Federal legislation that would afford trial lawyers a special tax break faces an uncertain future, says one of the chief lobbyists for the nation's trial lawyers. The proposal would allow attorneys to deduct fees and expenses up-front for filing contingency-fee lawsuits. The proposal amounts to about a $1.6 billion tax break for plaintiffs' attorneys, estimates indicate. "Everyone wants to do it, but the problem is there is not a tax vehicle yet," said Linda Lipsen, American Association for Justice (AAJ) Senior Vice President of Public Affairs. Lipsen was speaking to the Birth Trauma Litigation Group at the annual meeting this...

Snips It's not real money as measured by the Washington adage of "$1 billion here and $1 billion there," but President Barack Obama's Cabinet has just delivered on his demand for $100 million in budget savings. Obama's promise to deliver the savings, which was greeted with considerable ridicule since it amounted to a pledge to cut about $1 for every $10,000 of the $1 trillion budget for agency budgets...the equivalent of cutting a foot-long submarine sandwich from the budget of a construction worker making $60,000 a year. Agriculture Department canceled a meeting in Australia Commerce Department scrapped $131,000 worth of...

The Barack Obama fiscal plan has cut taxes by over 30% for the second quarter of 2009. H/T to Bizzyblog. According to the US Treasury, receipts have fallen 30.9% from the same quarter in 2008. The Obama tax plan seems to be working fine. Now some may say that this is because individuals have lost their jobs and can’t pay taxes. And others may say that companies are not making any money so they can’t afford to pay taxes. But these are obviously “wingnuts” who can’t face the fact that Barack Obama is the COOLEST PRESIDENT EVER!!!!!

House Minority Whip Eric Cantor (R-Va.) said that Republicans would work with President Obama on a second stimulus bill, as long as it's like the tax cut-heavy package the GOP proposed earlier. Cantor told reporters Monday that Obama made a mistake by pushing through a $787 billion stimulus bill in February that had too much government spending. With the economy still scuffling and unemployment approaching 10 percent, Cantor said that Republicans could back new stimulus legislation that focuses on help for small businesses. "We stand ready and willing to work with the president to produce a bill that will actually...

President Obama's assertion to homeowners that refinancing their mortgage loans now with interest rates at a near-record low equates to a tax cut isn't that cut and dried, according to tax analysts. Obama said at his third press conference last month that the housing plan his administration has launched has "already contributed to a spike in the number of homeowners who are refinancing their mortgages, which is the equivalent of another tax cut." But tax analysts told FOXNews.com that lower mortgage rates actually reduces tax savings.

WASHINGTON -- Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring. The government is going to want some of that money back. The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month. But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars...

Obama’s Spending vs Obama’s Spending Cuts — in PicturesPosted April 20th, 2009 at 10.34am According to reports, President Barack Obama plans to convene his Cabinet for the first time today, where he will order members to identify a combined $100 million in budget cuts over the next 90 days. Just how laughable is Obama’s latest stunt to try to maintain his “fiscal responsibility” credentials? This graphic from Heritage’s John Fleming might help:

Obama says his tax cut for 95% of Americans will lift people out of poverty. Please tell me how an $8 tax cut can possibly lift even one person out of poverty? Especially when these people pay no taxes to begin with. Also, he claims that it's the federal government's job to create jobs for Americans? Oh, yeah? Since when? Here's the formula that will help PRIVATE enterprise create jobs for Americans: Cut the spending. Cut the government. Cut the taxes. Repeat. Get the government out of the way and OFF our backs!! Set our people FREE!!

<p>WASHINGTON (MarketWatch) -- Obliquely answering the hundreds of "tea bag" protests around the country on tax day, President Barack Obama said Wednesday that he's already delivered the most progressive tax cut in history, with 95% of families getting a tax break in every paycheck.</p>

Press Releases Contact: Brendan Daly/Nadeam Elshami 202-226-7616 For Immediate Release 04/15/2009 Pelosi on Tax Day: Millions of Americans Will See Tax Cuts This Year Thanks to Economic Plan of Congress and Obama Washington, D.C. – Speaker Nancy Pelosi released the following statement on Tax Day. “Millions of Americans will see their taxes cut this year thanks to the economic plan of the New Direction Congress and President Obama. We enacted the fastest tax cut in history—the Making Work Pay Tax Credit—that workers are already seeing in their paychecks. To spur economic growth and lay a foundation for stronger economy, the...

WASHINGTON (MarketWatch) -- Obliquely answering the hundreds of "tea bag" protests around the country on tax day, President Barack Obama said Wednesday that he's already delivered the most progressive tax cut in history, with 95% of families getting a tax break in every paycheck. Americans need a "government that is working to create jobs and opportunity for them, rather than simply giving more and more to those at the very top in the false hope that wealth will trickle down," Obama said. In his remarks, Obama decried the use of taxes as a political wedge issue "to scare people into...

Tomorrow is Tax Day, and conservatives across the country are planning "Tea Parties," intended to be grass-roots "revolts" against the Obama administration's economic policies thus far. Though organized independent of the Republican Party, a number of officeholders and candidates are planning to attend local events. At the White House, Robert Gibbs said that he's not sure if President Obama is aware of the planned demonstrations. He will, however, mark the day with a White House event "to signal the important steps in the Economic Recovery and Reinvestment plan that cut taxes for 95 percent of working families in America," Gibbs...

81% Say Middle Class Tax Cuts Important for Budget Plan Monday, March 30, 2009 Eighty-one percent (81%) of voters nationwide say it’s important to keep the promised middle-class tax cuts in President Obama's $3.6 trillion budget. That figure includes 55% who say it’s Very Important.The latest Rasmussen Reports national telephone survey found that just 15% do not see the tax cuts as important.<snip>By a 51% to 38% margin, voters say the tax cuts are more important than new spending on health care reform. While voters remain divided over the president’s budget, health care reform has emerged as the most significant...

President Barack Obama says he's not ready to comment on a proposal from some Senate Democrats to scrap his middle-class tax cut after 2010. Obama says he hasn't yet seen what changes are coming out of the House and Senate. But he delivered his bottom-line on the budget at a Tuesday evening news conference. Obama said the budget must move toward health care reform and include an energy policy that frees the nation from dependence on foreign oil. He also says he's looking for investment in education and a reduction in the deficit.

WASHINGTON (AP) - A top Democrat in the Senate announced a budget blueprint Tuesday that would scrap President Barack Obama's signature tax cut after 2010 and blends sleight of hand with modest restraint on domestic programs to cut the deficit to sustainable levels.

Similarly, on healthcare, Obama has decided to put cost control above expanding coverage... There's also a shift in investment priorities in the healthcare proposal. The fastest-growing part of the federal budget is spending for Medicare, a program that provides healthcare for the elderly. It is paid for by payroll taxes from people still in the workforce. In essence, Medicare amounts to a resource shift from younger workers to older retirees. And the population of older retirees is rapidly growing relative to the workforce. "The more we spend on the elderly, the less we can spend on other things, including education,"...