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Tag Archive: Tax Hikes


Obama To Propose $3.99 Trillion Budget

 

 

 

 

 

” President Obama is unveiling a $3.99 trillion budget that is “designed to bring middle class economics into the 21st Century,” the White House announced Monday.

  The proposed budget “invests in helping working families make their paychecks go further, preparing hardworking Americans to earn higher wages, and creating the infrastructure that allows businesses to thrive and create good, high-paying jobs,” the White House said in a statement.

  To pay for new tax credits and other programs involving education, child care, paid leave, and new road and bridge construction, the budget calls for tax hikes on wealthier Americans by closing certain loopholes.

  Congressional Republicans said the president’s proposals — many of which leaked out in advance of Monday’s announcement — involve too many tax hikes and high-spending programs.”

 

 

Here are just a few of the goodies to be redistributed by the State under “Uncle” Barack’s proposed budget :

 

 

” Among the economic plans in the proposed budget:

• A child care tax credit of up to $3,000 per child.

• $750 million for a Department of Education preschool development program, an increase of $500 million.

• More than $3 billion for science, technology, engineering and math (STEM) education.

• A $500 tax credit for “second earners” in working families.

• A program encouraging paid leave programs for employees.

• Two years of community college tuition for qualified students, a program that would cost $60 billion over 10 years.

• $1 billion for a “long-term, comprehensive strategy” to develop a Central America “that is fully democratic (and) provides greater economic opportunities.”

    Note that a great deal of this spending is earmarked under the guise of “investment” in education which is just another means of rewarding one of his strongest constituencies , the teacher’s unions .

Read on

 

 

 

 

 

 

 

 

 

 

 

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Small Businesses Get A Debilitating Dose Of Reality As Health Insurers Unveil Their Rates For 2015

 

 

 Click The Pic For Interactive Map

 

 

 

” Although the Obama administration has yet to release the federal healthcare premiums for 2015, some private insurers have.

  One of them in Minnesota has indicated that they will be showing increases of up to 60% for their ACA-compliant policies. Preferred One, the largest and lowest-cost provider of health insurance in the state, pulled out of the state’s MNsure exchange last month due to its being “unsustainable.” “

 

 

 

 

 

 

” Furthermore, a study was also just released that surveyed 2,600 businesses around the state, finding that 74% said prices of healthcare insurance increased after the law went into effect and that most of these increases were over 10%.”

 

Rightwing News has more

 

 

 

 

 

7 Blockbuster Obamacare Charts That The White House Doesn’t Want America To See

 

 

” Remember all those promises that were made to sell Obamacare? Like lowering premiums for a family of 4 by $2,500 a year, allowing people to keep their plans and their doctors, not adding a dime to the deficit, and all of that?

  Well, let’s just see how much of a striking success”Obamacare” is based on the numbers so far. The Heritage Foundation created these charts based on the HHS’ own numbers, the CBO’s, and the Kaiser Family Foundation’s.”

 

 

1.Young People’s Premiums are Jacked Up

Premiums_Age27

 

 

” If you’re a young person, you’re pretty much screwed. Not only will you be paying higher premiums to subsidize your elders, you will be paying more taxes over your lifetime to pay back the loans we’re accruing just to pay for this boondoggle. You’re welcome, right?”

 

 

 

      Here’s one more sample for the reader and make note of the one time dip in the rate of the tax increases this year . The cynic in us can’t help but make note of the fact that this solitary dip coincides with some very important congressional elections , mere happenstance ? We think not .

 

 

 

3. New Taxes for Everybody!

CP-Obamacare-in-Pictures-11_HIGHRES

 

” Speaking of taxes, check out these bad boys. Not just one, but 18 new taxes lumped into one giant bill that should be called “Obamatax.” Hey, it’s not a tax! Oh yeah, well, now it is.”

 

 

 

See the whole thing at IJR

 

 

 

 

 

 

Senate Passes Bill To End Air Traffic Control Furloughs

 

 

 

” Without any debate, the Senate unanimously passed legislation giving the Department of Transportation flexibility to use unspent funds to cover the costs of air traffic controllers and other essential employees at the Federal Aviation Administration.

The House of Representatives, which is expected to approve the measure, could take it up on Friday, capping a feverish effort by Congress to end the flight delays that were snarling traffic at major U.S. airports and angering travelers.

Some Senate aides said the measure would also give the FAA flexibility to keep open nearly 150 “contract towers” at smaller airports that are staffed by non-FAA employees who help control takeoffs and landings.”

 

 

Illustration by Gary Varvel

 

 

 

 

 

 

Democrats Looking To Retreat On FAA Furloughs

 

 

 

 

” Senate Democrats are beginning to realize that President Obama has dealt them a losing hand on Federal Aviation Administration furloughs linked to sequestration, and they are now trying to minimize the damage.

The entire purpose of sequestration was to inflict pain on the American people until they forced Republicans to raise taxes. But the reality is that the federal government is perfectly capable of reducing the growth of its spending, while still performing what few vital functions it actually performs. And the FAA is a great example.

President Obama requested $15.172 billion to run the FAA for 2013 and Congress initially gave him $16.668 billion. The sequester has since cut the FAA’s budget by $669 million, leaving the agency with $15.999 billion. That’s right: Even after the sequester “cuts,” the FAA actually has more money to spend this year than Obama originally asked for to begin with.”

 

 

 

 

 

ObamaCare Taxes Will Increasingly Bite Middle Class

 

 

 

” When President Obama was selling his signature health care reform bill back in early 2010, he described it as the “largest middle-class tax cut for health care in history.” The costs would be largely paid by taxing insurance companies “that stand to gain a lot of money and a lot of profits” and by making “sure that the wealthiest Americans pay their fair share on Medicare.”

The press at the time picked up this theme. The New York Times, for example, called ObamaCare “the federal government’s biggest attack on economic inequality since inequality began rising more than three decades ago.”

But a closer examination finds that ObamaCare’s three biggest taxes — a Medicare surcharge, the so-called Cadillac tax and an insurance premium fee — will increasingly hit the middle class because of how the law indexes them for inflation and medical costs.”

 

 

 

 

 

 

 

 

Ariz. Group Used Student Fees To Lobby For Tax Hike, Sues To Keep Funding

 

 

 

” Since 1998, the Arizona Students’ Association has collected $1 per semester from students who attend Arizona State University, the University of Arizona, and Northern Arizona University. The fee was increased to $2 in 2008 and currently brings in about $600,000 per year. Students who don’t want to pay must fill out a form and mail it to ASA to receive a refund.

That changed in February, when the Arizona Board of Regents voted to alter the group’s funding mechanism so that students would have to opt in to pay the fee by checking a box on their tuition form.

A spokesperson for ASA characterized the policy change as political retaliation for going against the wishes of the regents in the November 2012 election. ASA spent over $120,000 actively campaigning for Proposition 204, which would have imposed a one-cent sales tax to raise money for higher education. The regents and Republican lawmakers opposed the proposition, and voters rejected it.”

 

Senate Democrats Adopt First Budget in Four Years

 

 

 

” Lawmakers on Saturday voted 50-49 to endorse a fiscal 2014 measure that proposes to raise $1 trillion by clamping down on tax breaks for the wealthy while paring spending on defense, farm subsidies and other programs.

“Budgets are about far more than numbers on a page — they are about the values and priorities of the American people,” said Senate Budget Committee Chairman Patty Murray, a Washington Democrat and the plan’s chief sponsor.

The proposal highlighted differences between the two parties over taxes, spending and the size of government. The vote clears the way for the next phase in Washington’s budget battle, which probably will revolve around the need to raise the U.S. debt limit. Federal borrowing authority is scheduled to expire May 19.

Republicans said the Senate Democrats’ proposal would do too little to rein in government red ink.

“Honest people can disagree on policy, but there really cannot be disagreement on the need to change our nation’s budget course,” said Alabama Senator Jeff Sessions, the top Republican on the chamber’s Budget Committee.

Four Democrats voted against the final version: Max Baucus of Montana, Mark Begich of Alaska, Kay Hagan of North Carolina and Mark Pryor of Arkansas. All are up for re-election in 2014.”

 

 

 

 

 

Senate Democrats’ Budget Includes Nearly $1 Trillion In New Taxes

 

 

 

” The first budget from Senate Democrats in four years includes nearly $1 trillion in new taxes but would not balance the budget.The budget would dedicate $100 billion to economic stimulus in the form of infrastructure spending and job training.”

 

More union gifts , graft and no balanced budget … 

 

” The Ryan budget would balance in 10 years without raising taxes and by reducing spending over the next decade by $5.7 trillion compared to the CBO baseline.”

 

 

 

 

 

 

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The Enablers

 

 

” In the age old tradition of dinner before dalliance, John McCain and Lindsay Graham were treated to a quiet date night with Barack Obama last Wednesday, which is more foreplay than the rest of us get from the President as he proceeds to consummate his intentions on America in more ways than even Dr. Ruth can count.  “I’m assuming the president wants to talk seriously about the issues of the day,” cooed Senator Graham, innocently batting his rhetorical eyelashes with the preposterous addendum that, “I’m encouraged by the president’s outreach [and] I hope it bears fruit.”   Yes yes, and if only King Leonidas had announced his encouragement at the outreach of Xerxes toward Sparta, all that unpleasantness at Thermopylae might have been avoided too.”

 

 

 

 

 

 


Filibusted: Outreach Supper with Graham & McCain Leads to $600 Billion Tax Hike Proposal

 

For Shame 

 

” The price of Senators McCain and Graham attending an ‘outreach dinner‘ with the president may wind up costing taxpayers$600 billion more in taxes. And you thought the only price paid would be to their image.

The old guard acts like it hasn’t been notified of New Media yet; and is seemingly unfathoming of such things that #StandwithRand was the top Twitter trend in the world the previous night starting at 10:30 p.m., and had enough tweets at over 1 million (combined with a few other related hashtags) to rival the State of the Union address’ 1.3 million.”

 

 

 

Obama: ‘I Am Not A Dictator’

 

 

“I am not a dictator,” President Obama said Friday while defending his efforts to stop the sequester. “I’m the president.”

Obama said there are limits to what he can do to get a deal on the sequester during a press conference in which he blamed Republicans for standing in the way of a deal.

But Obama on Friday characterized himself as the reasonable party in the talks and someone who couldn’t force Republicans to make a deal.

“I know that this has been some of the conventional wisdom that’s been floating around Washington that even though most people agree that I’m being reasonable, that most people agree that I’m presenting a fair deal, the fact that they don’t take it means that I should somehow do a Jedi mind-meld and convince them” to agree on a deal, Obama said.”

 

 

 

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Boehner : ‘How Much More Money Do We Want To Steal From The American People?’

 

 

 

 

” House Speaker  said he favors pushing for more spending cuts instead of new revenues to get the federal budget under control.

“You’re talking about how much — you’re asking a question, how much more money do we want to steal from the American people to fund more government? I’m for no more,” he said.

Boehner told reporters that President Obama wants to close tax loopholes as part of an agreement to avoid the looming sequester, but only so he can justify raising revenue for new government spending.”

 

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Republican Leaders’ Sequester ‘Meeting’ With Obama: Seven Minutes

 

 

” Never let it be said that President Obama has failed to spend time with Republican leaders in seeking an alternative to automatic budget cuts that are due to hit most federal departments Friday. On Wednesday, for example, the president gave GOP lawmakers as much as seven minutes, a rare face-to-face encounter that the White House described as a “meeting.”

The White House’s characterization of this momentary huddle at the Capitol as a meeting illuminates Mr. Obama’s strategy in dealing with Republicans on the budget cuts and other fiscal deadlines.”

 

 

 

 

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Sequester This! President Obama’s Colossal Media Blunder

 

 

 

” President Obama has gone all-in trying to get Republicans to blink and serve up another round of tax increases in lieu of the looming spending sequester. Eschewing talks with Congress or any pretense of leadership, he is instead flying around the country burning $180,000 an hour on Air Force One laying out a parade of horribles that will descend upon us if the growth of federal spending were reduced by one iota.

Why is he doing this? Because the mainstream media are lapping it up. Poisoned meat coming to grocery shelves near you! Air traffic grinds to a screeching halt! Fires, murder, and mayhem in the streets as first responders are laid off! No visits to the Washington Monument! OK, it all makes for good copy.

Well, Jay, explain this to me: The most imperial president in American history, a man who boasts that he will rule by Executive Action if Congress refuses to pass legislation he favors, can’t figure out how to direct spending cuts in a way that does the least harm to the American people?”

 

 

See companion story :  After The Sequester, Bring On The Blame Game

 

” Just as every newsworthy weather event these days is blamed on global warming, every negative economic report between now and the 2014 midterm elections will be blamed on obstructionist Republicans, their ill-advised sequester, and their determination to ruin an otherwise recovering economy just to make Obama look bad. The only way to fix it? Hand total control of all three branches of government to the party that really knows how to party.”

 

 

Democratic Business Owners In MN: Sheesh, These Taxes Sure Do Look Troublesome

 

 

 

” As its neighbors look to cut and simplify tax systems to attract businesses to their states, Minnesota’s Gov. Mark Dayton has a different idea:

For generations, Minnesotans lived out the progressive argument that high taxes and high services were what gave the state its fabled quality of life. But the patience of business owners is being tried more than ever, as Dayton and the Democrats who now control the Capitol mull a menu of tax increases that would primarily hit company ledgers — just as most states are going the opposite way.

Dayton has proposed tax changes he says would make the system fairer and also bring in $2 billion in new revenue. Much of the gain would come from a state sales tax on “business-to-business” purchases like legal, accounting, banking and printing costs. Few states tax such services. He would also boost Minnesota’s personal income tax rates from eighth to fourth highest in the nation, behind only Hawaii, California and Oregon.

There are some business owners, even lifelong Democrats, who are feeling the pinch and wondering if it’s worth it:”

How Congress, Wall Street And The Media Traded America’s Future For The Next Short Term Fix

” If someone had woken you from a dead sleep 20 years ago and asked what the Republican Party stood for, you would’ve had no trouble answering: Fiscal restraint, a strong national defense and lower taxes. Those were the three pillars of the GOP. The party’s brand was clear. Voters understood it, and many approved. In the days before Obama, Republicans won seven out of ten presidential elections.

Things have changed for the muddier. Scratch the surface and you’ll find there is no longer a consensus among Republicans on foreign policy. Fiscal restraint? Years of earmarks, record deficits and at least one new federal entitlement under Republican congresses make that idea a bitter joke.

Of the three principles that have united the party since Reagan, only taxes remain. Republicans have been able to claim — sincerely, and with continuing success at the ballot box — that they are for lower taxes.

Until Tuesday.

Here’s what happened: For reasons that aren’t entirely clear but are probably related to panic and a basic lack of principle, the Speaker of the House and other Republicans in Congress signed on to Democratic calls for “balance” between tax hikes and spending cuts — this despite the overwhelming evidence that spending is the real problem. ”

So, even before the negotiation began, they abandoned decades of principle on taxes. The result: Two months later, we have a deal, but no balance. It’s all tax hikes. Zero spending cuts. Nice job.

Illustration By Michael Ramirez

GOP Abandons Good Policy in Fiscal Cliff Deal

 

 

 

 

 

” You know, Republicans, if you spent half as much time marketing good policy as you do bending over backwards to please your ideological opponents, we might actually have a deal worth talking about.

In addition to the basics, there are some other interesting facts to note about this deal.

ABC News reports:

But it also includes these:

  • $430 million for Hollywood through “special expensing rules” to encourage TV and film production in the United States.  Producers can expense up to $15 million of costs for their projects.
  • $331 million for railroads by allowing short-line and regional operators to claim a tax credit up to 50 percent of the cost to maintain tracks that they own or lease.
  • $222 million for Puerto Rico and the Virgin Islands through returned excise taxes collected by the federal government on rum produced in the islands and imported to the mainland.
  • $70 million for NASCAR by extending a “7-year cost recovery period for certain motorsports racing track facilities.”
  • $59 million for algae growers through tax credits to encourage production of “cellulosic biofuel” at up to $1.01 per gallon.
  • $4 million for electric motorcycle makers by expanding an existing green-energy tax credit for buyers of plug-in vehicles to include electric motorbikes.

*Note the price tags above reflect estimated forgone tax revenue if current credits – which have been due to expire – are extended for one year as included in the Senate bill, per Joint Committee on Taxation.

Jim Pethokoukis writes:

What will Americans pay in taxes this year vs. last year in light of the fiscal cliff deal? Well, let’s run the numbers (with some help from JPMorgan):

– Payroll tax hike: $125 billion

– Income tax hike and the phaseout of exemptions: $35-50 billion

– Investment tax hike: $5 billion

– PPACA healthcare taxes: $38 billion

So that works out to roughly $220 billion, or 1.2% of GDP. It’s a deal that, as The Washington Post puts it, ”takes money out of the hands of many Americans, sucking it out of the economy and slowing economic activity.”

Obama made it clear last night that he has no interest in negotiating when it comes to the debt ceiling. He has also made it clear that this is the start of his tax-hike demands, not the end. ”

 

 

 

 

Illustration By Steve Sack

Debbie Wasserman-Schultz: These new tax hikes on the rich are just the first step of “the balanced approach”

 

 

 

 

” Via Mediaite, “balanced approach” is Obama’s Orwellian term for selling tax hikes to the public as a condition of spending cuts even though there’s nothing remotely balanced about our fiscal problems. Spend 10 seconds looking at the graphs in Yuval Levin’s new post at the Corner. That’s the reality that the “balanced approach” pretends to address. As Levin said in another post today, “The fiscal trajectory of our welfare state is not sustainable, no matter how much taxes go up.”

But okay. The left’s new talking point, pushed by The One himself, is that they absolutely positively won’t negotiate over the debt ceiling. No one believes that, but fine. Supposedly, if the GOP wants spending cuts, the debt ceiling is off the table and the price will be additional revenue. One question: Where’s that new revenue coming from? I can’t figure it out. Neither can Megan McArdle:

For starters, there’s a matter of timing. President Obama just successfully raised taxes on the rich. Is he going to go back and do it again in a few months? I’m not sure about the optics here: while I think that a tax increase on the rich was popular and inevitable, I don’t think that Democrats will do well to position themselves as the party that does nothing but demand more tax increases, even on rich people. ”

 

 

 

The Looking Spoon

 

Grover Norquist: Vote For Deal Is Vote To Cut Taxes

 

 

” Grover Norquist, the Americans for Tax Reform president and anti-tax activist who has become a key figure in the ongoing negotiations on the fiscal cliff, took to Twitter as the House was voting Tuesday night to give his blessing to the deal:

 

Norquist Spin
Norquist, of course, is the architect of the anti-tax pledge signed by the vast majority of congressional Republicans, and his statement Tuesday night could give political cover to the 85 members of the House GOP conference who voted “yes” on the deal.”

FINAL VOTE RESULTS FOR ROLL CALL 659

(Republicans In Roman; Democrats In Italic; Independents Underlined)

 

 

House Budget Vote

 

 

 

 

LibertyTrail

While the rest of us were eating, drinking and making merry (or turning in early) the drama queens in Washington were burning the midnight oil.  They haven’t done their job all year, so we all had to endure the theatrics of the past several weeks with their climactic high drama last night.

And it’s still not over.  Although the old media is talking as though all this is done, the House has still not voted on the bill.  Stay tuned.

I don’t know all the details of it yet.  Lots of info is swirling around.  There’s more money for unemployment benefits in it.  And most of us won’t see our taxes rise.  Except that we will.  The payroll tax cut was allowed to expire, so all our take-home is going down.  It’s being reported that for every dollar in cuts in the bill, there are $41 in new taxes.

That’s what…

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“You get nothing,” the president said. “I get that for free.”