Here is all the latest research on the Obama Tax Hikes from The Heritage Foundation Read More.
President Obama has advanced a plan that reverses the long-standing successful policy: The President and his supporters are calling for tax increases, primarily on upper-income taxpayers and businesses. Read More.
Taxes should raise the revenue to fund necessary government operations in ways that cause the least possible economic damage. Accordingly, Congress and President Obama should reform the existing tax code and drop their current plans to increase taxes on high-income earners, small businesses, investors, and other job creators. Read More.
If President Obama and Congress fail to act this year, an enormous, unprecedented tax increase will fall on American taxpayers starting on January 1, 2013. The Washington Post called the looming tax increase “Taxmageddon,”[1] and Federal Reserve chairman Ben Bernanke called it a “massive fiscal cliff.”[2] …
President Obama and Congress need to focus on policies in 2012 that will unleash the economic growth necessary to get the economy back on track, create jobs, and lower the unemployment rate. As more government spending has failed to create that growth, the President and Congress…
President Obama proposed $1.5 trillion in permanent tax hikes over 10 years in his latest plan to reduce the national debt. This massive tax hike would fall mostly on families and businesses earning more than $250,000 a year. The President argues that these job creators should pay higher taxes out…
Abstract: Despite evidence to the contrary, President Obama and his supporters insist that a tax increase will not impede economic recovery. They claim that the Clinton tax hikes spurred the boom of the 1990s and that the subsequent Bush tax cuts hurt the…
Abstract: The 2010 Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act—which extended the 2001 and 2003 tax cuts for two years—also extended the lifespan of other policies that will not benefit the economy. The country is in dire need of tax reform, yet…
Runaway spending and deficits continue to grow unabated in part because any attempts to rein them in are relentlessly demagogued by defenders of big government. The latest example is the budget recently authored by House Budget Committee chairman Paul Ryan (R–WI) and passed by the House of Representatives. …
Abstract: President Obama recently unveiled his 2012 budget proposal and the 43 tax hikes it contains. The multitude of—utterly unnecessary—tax hikes will burden Americans to the tune of $1.5 trillion over the next decade. The President is proposing to raise federal tax revenues…
Abstract: Among the many undue burdens that the current tax code places on American taxpayers and the economy, five stand out as particularly detrimental to job creation, investment, and economic recovery. From business-stifling taxation systems to the alternative minimum tax to insufficient tax relief…
There is near-universal agreement among economists that raising marginal tax rates during slow economic times only makes the economy weaker. Higher tax rates reduce employment, cut investment activity, and soften household demand for goods and services. Even so, Congress is considering right now a number of tax proposals, most of…
Abstract: The “Obama tax hike”—the expiration at the end of 2010 of tax relief enacted nearly a decade ago—is a major issue facing American taxpayers. Often overlooked is yet another tax hike fermenting in Washington—the elimination of tax expenditures to shrink budget deficits. This…
The Democratic majority in the U.S. House of Representatives must decide whether to write a budget extending, expiring, or repealing the Bush tax cuts. These tax cuts have provided a convenient scapegoat for the nation's budget and economic challenges. Despite a 42 percent spending increase in 2001, critics charge that…
Abstract: Since 1996, Congress after Congress has voted to lighten the tax burden on Americans. The current Congress will decide this fall whether to continue this policy or to significantly raise personal income taxes. President Obama has advanced a plan that reverses the long-standing…
A Note to the Reader This Report is a revised version of Center for Data Analysis Report CDA01?01 published on February 22, 2001. The final results of the authors? analysis of the Bush tax plan presented in this Report reflect revisions to the static revenue estimates used…
Abstract: The annual federal budget deficit is projected to reach 8.3 percent of gross domestic product (GDP) by 2020—more than three times the historical average of 2.3 percent. This dramatic increase in the federal deficit will be exclusively the result of increasing spending, not…
THE ISSUE: Taxes should raise the revenue to fund necessary government operations in ways that cause the least possible economic damage. Accordingly, Congress and President Obama should reform the existing tax code and drop their current plans to increase taxes…
Abstract: President Obama’s tax plan will, famously, end the 2001 and 2003 tax relief for Americans earning $250,000 a year or more. But, far from raising taxes only on the “rich,” the widespread effects of the Obama plan will hurt Americans at every income…
In a policy report published on February 6, 2001, Robert Greenstein of the Center on Budget and Policy Priorities (CBPP) claimed that President Bush's tax cut plan would "cost" the federal Treasury $2.5 trillion over the 11-year period 2001 through 2011. That sum is $1.2 trillion more than Congress's Joint Committee on Taxation (JCT) estimated…
Americans are facing an unprecedented $494 billion tax hike on Jan. 1, 2013. It’s been dubbed “Taxmageddon” given the...…
We get it, the last thing President Obama wants is to be blamed for is the nation's growing debt—or anything else,...…
In addition to today being Tax Day, it's also, coincidentally, "Tax Freedom Day" -- meaning that it has taken from...…
Sweden is known for, among other things, Swedish meatballs, the pop group ABBA, and IKEA. Well, here is another thing...…
Brace yourself. In a mere 271 days, you and your fellow Americans will be hit with a tax hike the likes of which this...…
We’ve corrected Paul Krugman in the past, when he mistakenly invoked imaginary British spending cuts as proof that...…
To hear liberals tell the tale, you might think that most Americans want to tax the pants off businesses and wealthy...…
On December 31, a set of approximately 50 tax-reducing provisions commonly referred to as the “tax extenders” expired....…
House Republicans return to Washington today to vote on a two-month payroll tax extension. If news reports are...…
In a recent speech in Kansas, President Obama launched a diatribe against “trickle-down” economic policies. Not only did...…