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The Obama Administration today released a business tax reform plan which is hardly worthy of the name. It raises taxes on employers by hundreds of billions of dollars over this decade, makes both larger and smaller companies less competitive than today, and would do nothing to make American companies more competitive around the world. Raises taxes on employers with unemployment over 8 percent. The Administration plan is shameless in admitting that this is not actually business tax reform. Rather, it's a net tax increase on business with some shiny baubles that might remind one of real tax reform. How does...

President Obama on Monday will propose a deficit plan that calls for about three dollars in new tax increases for every dollar in additional spending cuts as he seeks to put his imprint on the ongoing talks over reducing the government’s staggering debt burden. In a plan his advisors described as his ideological vision, rather than a compromise offer to the GOP, Mr. Obama will also threaten to veto any plan Congress sends him that tackles entitlements but doesn’t include tax increases, which he will argue is central to a “balanced” approach. “The president will make clear he’s not going...

US president Barack Obama, in a populist step designed to appeal to voters, will propose a 'Buffett Tax' on people making more than $1 million a year as part of his deficit recommendations to Congress on Monday. Such a proposal, among suggestions to a congressional super committee expected to seek up to $US3 trillion in deficit savings over 10 years, would appeal to his Democratic base ahead of the 2012 election, but may not raise much in revenues. White House communications director Dan Pfeiffer said in a tweet on Saturday the tax would act as "a kind of [Alternative Minimum...

WASHINGTON, Sept 17 (Reuters) - President Barack Obama said on Saturday that Americans need to be ready to "pay their fair share" to narrow the U.S. deficit, previewing his proposals to Congress that are expected to include more taxes on the rich. In his weekly radio and video address, the Democrat said his $447 billion jobs plan that features tax breaks for workers and small businesses, plus funds for public works projects and schools, "will not add to the deficit. It will be paid for." "On Monday, I'll lay out my plan for how we'll do that -- how we'll...

It was Rep. Todd Akin (R-Mo.) that talked about what he said was a “goon squad of 5,000 IRS agents tromping around the country….”

The leader of the nation's largest veterans organization says he is "deeply disappointed and concerned" after a meeting with President Obama today to discuss a proposal to force private insurance companies to pay for the treatment of military veterans who have suffered service-connected disabilities and injuries. The Obama administration recently revealed a plan to require private insurance carriers to reimburse the Department of Veterans Affairs (VA) in such cases. "It became apparent during our discussion today that the President intends to move forward with this unreasonable plan," said Commander David K. Rehbein of The American Legion. "He says he is...

Yesterday,  just days after President Barack Obama signed his economic stimulus measure, the White House released a statement claiming credit for the reopening of a window and door factory in Chicago. Vice President Joe Biden said, “The reopening of this factory and the rehiring of these workers provide an excellent example of how the money in the Recovery Act is targeted to spur job creation quickly.” If the Obama Administration is going to claim credit for every job created since  Obama and Biden were elected, then if they are honest, they should also take the blame for every job lost....

Subtitled: Understanding the revenue impact of Bush's tax cuts. Obama first foreign-policy crisis looks like it is going to be the foreign nature of having people with power equal to his telling how it is going to be. This town appears to be big enough for two queens: "House Speaker Nancy Pelosi wants Congress to consider repealing President George W. Bush's tax cuts well before they expire in 2010, in contrast to what President-elect Barack Obama is proposing. / In an interview aired Sunday, Pelosi said, "I don't want them to wait two years to expire because they have to...

THIS WILL CHANGE YOUR RETIREMENT For those among you who have more money than you will ever need, save your time and delete this email. For the rest of us who are still working with mortgages, children and grandchildren or retired living on a pension and or Social Security perhaps you will take a couple of minutes to read the proposed changes in the American tax system. Sharing this email with others can make a difference on November 4, 2008; for our citizens and our country. INTERESTING DATA JUST RECEIVED ON TAXES This is something you should be aware of...

With President Obama in office, the days of governments extracting a top marginal rate of 60% will return. Could bell bottoms be far behind? Remember how the press made George Bush’s tax rate cuts look so “huge” in 2001 and 2003? A March 10, 2001, New York Times article by reporters Frank Bruni and Richard W. Stevenson typified the approach. The trick was to talk about the (scary) $1.6 trillion impact of the “cuts” while minimizing attention to their time frame. At the linked article, the reporters waited until the ninth paragraph to tell us that it was a “$1.6...

Senator Obama's tax plan is a dramatic redistribution of the nation's tax burden, according to a new Tax Foundation analysis. In Tax Foundation Fiscal Fact, No. 132, Tax Foundation president Scott Hodge uses revenue estimates from the Tax Policy Center to show that Obama's plan would greatly accelerate the decades-long trend toward a federal government that depends for tax revenue almost exclusively on a few high-income people. Hodge acknowledges that some Americans may cheer this dramatic dependence on the highest earners, but he says the shift should be part of a larger national discussion asking questions such as: What is...