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) […]
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 […]
Imagine you are working for a company that is going bankrupt, but everyone you work with and your bosses are getting pay raises. Seem absurd? Not if you work for the failing federal government, because President Obama has just decreed that Vice President Biden, members of Congress expected to decide on the “fiscal cliff”, and […]
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 […]
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 […]
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 […]
Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the past 11 days, Heritage has highlighted one of the various changes in Obamacare projections (e.g., cost, enrollment, etc.) from when the law first passed until now. This Christmas morning will be the last day […]
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 […]
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 […]
Young voters formed the backbone of President Barack Obama’s coalition, but the recession in Obama’s economy has left “workers between the ages of 18 and 24 with the highest unemployment rate of all adults” and, as a result, a record number of young people–even those with college credits and work histories–are becoming homeless. They have […]
