Tax Hikes to Start the New Year

While you were sleeping—or ringing in 2013—the Senate voted to raise taxes. After missing the midnight deadline, Congress and the President have technically sent the nation over the fiscal cliff, meaning higher tax rates are already in effect for all income tax brackets. But the Senate’s deal, brokered by Senate Republican Leader Mitch McConnell (KY) […]

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Chinese Citizens Buy 1 Out Of Every 10 Homes Sold In California

Only in the USA could one view the purchase of property by foreigners a sign of recovery. Chinese citizens buing 10% of every home sold in California, and 1/3 luxury homes in California. As China’s economy rises, a group of China’s new rich with abundant cash funds appeared in Southern California, mostly businessmen, taking advantage […]

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Norquist: Raising Taxes Isn’t Compromise

As the “fiscal cliff” of tax hikes and spending cuts draws closer, anti-tax crusader Grover Norquist repeated his call on CNBC’s “Closing Bell”for spending cuts instead of tax increases to deal with the country’s fiscal problems. “If you put tax increases on the table, there’s never any spending restraint,” Norquist said, citing examples where taxes went up under […]

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French Court: Tax Rate on Rich Is Unconstitutional

President Francois Hollande’s 75 percent millionaire-tax is unconstitutional because it fails to guarantee taxpayer equality, France’s top court ruled today. President Obama wants a similar increased tax specific to the wealthy earners in the USA. The tax, one of Hollande’s campaign promises, had become a focal point of discontent among entrepreneurs and other wealth creators, some of whom […]

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5 New Year’s Resolutions for Congress in 2013

While many Americans resolve to make 2013 the year they really do slim down, exercise more, and spend less, Congress could afford to commit to a few such resolutions of its own. Call them budget resolutions—something Congress hasn’t had in a while. Here are five suggestions: Cut spending. The federal government is on course to […]

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12 Days of Obamacare Surprises: Deficit Reduction?

Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the next two days, Heritage is going to highlight one of the various changes in Obamacare projections (e.g., cost, enrollment, etc.) from when the law first passed until now. Obamacare was passed into law under […]

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Fuzzy Numbers Drive Obama Hurricane Sandy Request

According to the Financial Times, the insurance industry estimates the total bill for insurers from Hurricane Sandy will be between $20 billion and $25 billion. President Barack Obama’s emergency request for Hurricane Sandy totals $60.4 billion. One must naturally wonder how the damages not covered by insurance could be roughly triple the insured estimate? More […]

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