The Alternative Minimum Tax was imposed in 1969 because 115 households investing in municipal bonds reportedly paid little or no federal income tax… On Jan. 1, 2013, it is set to hit 27 million more—raising an estimated $120 billion, according to the Obama 2013 budget. In 40 years, a tax on 115 households will…
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Here is Gary Becker: While slow recoveries from major financial crises are common, employment would have increased considerably more rapidly, and unemployment would have fallen much faster, were it not for several factors special to this recovery. Scott Baker, Nicholas Bloom and Steven Davis have studied changes in economic policy uncertainty since 1985, and have…
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Will Rogers claimed to have never met a man that he didn’t like. I’m consistent too. I never read anything by Robert Reich that I liked. Dr. Reich, former Secretary of Labor under Bill Clinton and currently a named professor at UC Berkeley, is at it again. In writing for the U.K.’s The Guardian,…
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By now, pretty much everybody knows that President Obama’s economic stimulus program, more formally known as the American Recovery and Reinvestment Act of 2009, has turned out to be an extremely expensive failure. Instead of creating or saving millions of jobs, this massive economic stimulus program really represented the federal government’s wasteful spending at…
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Stimulus money didn’t go to the states hardest hit by the recession. States with higher bankruptcy, foreclosure and poverty rates as well as lower incomes got significantly less money. And states that had higher unemployment rates received virtually exactly the same amount of money as states with lower rates. But there was one group that significantly benefited:…
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“The Life of Julia” is an interactive slideshow from Barack Obama’s reelection campaign that portrays a woman living her whole life reliant on government programs. In so doing, it inadvertently exposes the cyclical effect that government “help” can produce. Meet Julia, a girl who is automatically put into the system by being placed in…
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How can changing the rules by which welfare benefits are doled out save taxpayer dollars while making sure that only the people who are eligible for welfare benefits can receive them? It’s a trick question, because the key to making it work is to make the bureaucrats who operate the federal government’s welfare dispensing…
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What if the President of the United States was the driver of a car, and the speed at which he drove was the rate at which the U.S. national debt would increase while he was at the wheel? Would that be the kind of road trip you’d like to go on? Courtesy of the…
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Social Security (SS) and Medicare have unfunded liabilities of approximately $40 trillion dollars. In other words, if we are to make good on Social Security and Medicare promises while keeping tax rates at their current levels, we now should have amassed a $40 trillion trust account. Since this did not occur, major tax rate…
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Just in case you missed it this past weekend, it has now been officially three years since the U.S. Senate acted to pass a budget for the United States federal government! The Daily Caller’s Caroline May reports on the momentous occasion: Thomas Jefferson is widely credited with coining an adage that makes fools of…
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