by Dan Mitchell | Sep 25, 2010 | Big Government, Blogs, Economics, Taxation
I’m dumbfounded and amazed. When Democrats and Republicans have a game of chicken, the GOP blinks 99 percent of the time. And I thought for sure this was going to happen in the fight about whether to extend all the 2001 and 2003 tax cuts (the GOP position), or whether...
by Dan Mitchell | Sep 20, 2010 | Blogs
Thanks to the Obamacare legislation, we already know there will be a new 3.9 percent payroll tax on all investment income earned by so-called rich taxpayers beginning in 2013. And the capital gains tax rate will jump to 20 percent next year if the President gets his...
by Dan Mitchell | Aug 24, 2010 | Big Government, Blogs, Economics, Government Spending, Taxation
In a very predictable editorial this morning, the New York Times pontificated in favor of higher taxes. Compared to Paul Krugman’s rant earlier in the week, which featured the laughable assertion that letting people keep more of the money they earn is akin to sending...
by Dan Mitchell | Aug 9, 2010 | Big Government, Blogs, Taxation
Caroline Baum of Bloomberg has an excellent column explaining why soak-the-rich taxes don’t work. Simply stated, wealthy people are not like you and me. They have tremendous control over the timing, composition, and level of their income. When the rich are hit with...
by Brian Garst | Aug 2, 2010 | Blogs, Economic Growth, Taxation
Statists view “the rich” as nothing more than ATM machines for funding big-government welfare states. They think they can take as much as they like – they’re rich, after all! – without consequences. Once they empty the machine, the bank...
