Political arguments couched as economic arguments

We don't need less investing and savings, folks

Dan Mitchell does a brilliant job at explaining the dis-incentive to save and invest with the capital gains tax.

Happy Tax Day!

Arrggghh! The beast needs to be starved. Here's what tax forms looked like in 1913.

The Flat Tax

What could possibly be bad about a lower tax rate on work, savings, investment, risk-taking, and entrepreneurship?

Coming soon: The spin on raising taxes

From CNN:

If President Obama's 2011 budget were put into effect as proposed, the U.S. federal government would add an estimated $9.8 trillion to the country's accrued debt over the next decade, according to a preliminary analysis from the Congressional Budget Office.

Of that amount, an estimated $5.6 trillion will be in interest alone.

Yes, fiscal conservatives know that the budget proposal's from the Obama administration are simply not sustainable. But the analysis doesn't stop there:

The CBO cited two big contributors to the jump in debt.

One is the president's proposal to extend the 2001 and 2003 tax cuts for the majority of Americans. The other is the proposal to protect middle- and upper-middle-income families from having to pay the Alternative Minimum Tax (AMT).

Together those proposals would cost $3 trillion between 2011 and 2020.

Ahh, here is the meat of the matter. You see, the Obama administration has skilfully had the CBO score their proposed budgets (with bloated new entitlements like ObamaCare and Cap and Tax) along with the Bush tax cuts. What a better way to explain to citizens that taxes must rise in order to avoid a fiscal train wreck sometime in the future.

The administration has also called the budget trajectory unsustainable and the president has created a fiscal advisory commission to recommend ways lawmakers can get annual deficits down to 3% of GDP by 2015.

Yes, a blue ribbon commision will tell us what we already know...that taxes must go up and the Bush tax cuts must end. The commision runs interference for the administration and for liberal democrats who hate anything George W. Bush did. Wait for it, folks...wait for it.

Higher Taxes here we come!

Great segment on The Kudlow Report should prepare us for the coming tax storm; it looms ominously before us. It looks like Democrats will start with the "evil" hedge funds and capital investment firms. With the massive health care bill they will slice and dice the rest of the 95% that Obama said he wasn't going to tax.

The Pain Goes On

The national unemployment rate is now at 10.2%--highest since 1983. If the Obama regime believes that it is going to reflate the economy out of this recession without any consequences, they are going to have a rude awakening.

In other news, the state of California has started, on November 1st, withholding 10% more in taxes from workers to shore up the state's deficit. No debate amongst the public and little news about this in local papers. Another perfect example of how government looks out for itself and how it will always try to expand its power at all costs. So much for representative government.

Pelosi is open to a Value Added Tax

Don’t you worry dear citizen, there are more taxes on the way! Hang tight because the next 12-14 months are going to be a real rocking good time.

Penn Jillette - Taxes

The madness of the progressive tax code is explored--only a bureaucrat out of a Kafka novel would love it. (Warning: Strong language.)

HT: Liberty Pen

The Maze of Taxes

A visual guide to where your taxes go. Not for the faint of heart.

President Obamas Dishonest Demagoguery on So-Called Tax Havens

The new video debunking the outlandish and mendacious rhetoric that President Obama has used to attack low-tax jurisdictions.

Best Posts I've Read Today

Harrison Price over at Just Politics hits a home run with his commentary on politically powerful Unions in the state of California and the burgeoning environmental energy movement:

Liberals are fond of talking about “Big Oil” as if it is supposed to mean something. Oil is “big” because the stuff it produces (oil, gas, and diesel) runs the industrialized world. But what about “Big” union? Seems as though three topics “cherished” by Democrats are all nicely colliding in the muddled state of California: unions, “green” energy (it’s green because of how much public assistance it needs), and the environment.
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And our old friend Bobo at The Bobo Files tells us about the middle class tax hike coming down the pike.

Five Key Reasons to Reject Class-Warfare Tax Policy

The latest video from the Center for Freedom and Prosperity Foundation.

"I would look at raising the capital gains tax for the purpose of fairness." Barack Obama. Not very pragmatic, Mr. President.

Raising Taxes Explained...

This one minute video clearly explains why raising taxes during a recession is not good policy.

The Burden of The Tax Code

Obamanomics

HT: Carpe Diem

Dan Mitchell Slams Obama Budget Plan

When they figure out that they can't pay for all of their bloated programs by taxing "the rich," the middle class tax payer is next in line. You should get ready for it.

The 10 Most Crazy Government Subsidies

Aren't you glad you pay taxes for this sort of stuff?

HT: Andrew Roth

Here Come Some Taxes

Here it comes---higher taxes and a cap and trade carbon scheme! It is just what our economy needs. I'm starting to seriously believe that Obama doesn't know what he is doing. When Obama calls for raising taxes on "the wealthy," you should know that this really means small businesses. The cap and trade scheme is a massive tax increase.

Another Tax Dodger for Obama

Tax troubles seem to be dogging the Obama administration. Several weeks ago it was Tim Geithner. Now it’s Tom Daschle with failure to pay more than $128,000 in taxes.