The Washington Times writes:
RICHMOND — State lawmakers can rule out Virginian’s offering up more of their hard-earned money to fix the $1.4 billion budget shortfall Gov. Tim Kaine announced this week.
At least that is what a peek at the so-called “Tax Me More Fund” suggests.
Since its inception in 2002, the fund has collected a total […]
Archive for the 'Taxes' Category
Feb27th2008
Dec13th2007
Arthur Laffer On President Clinton And The Economy
Published by in (modern day) Liberalism, Economics, General, Inequality, ModernPolitics, Poverty and Taxes. 4 CommentsI met Arthur Laffer in July of this year, at the Libertarians FreedomFest Convention in Las Vegas. I found him to be, by far, the most entertaining and provocative speaker (He is also, btw, a HUGE illegal immigration supporter). Since then, I added him to my “Must Read Anything They Write” list of economists. […]
Aug14th2007
Have you noticed that talk of the ‘looming federal deficit’ is conspicuously missing from the Democrat presidential nominees? The reason it is missing is because the federal deficit is quickly disappearing:
A month ago, the White House slashed its forecast for the 2007 deficit, saying it now expects to run a $205 billion deficit, down from […]
Apr9th2007
“As the staff economist for Representative Jack Kemp, a Republican of New York, I helped devise the tax plan he co-sponsored with Senator William Roth, a Delaware Republican….We believed that our tax plan would stimulate the economy to such a degree that the federal government would not lose $1 of revenue for every $1 of […]
Dec20th2006
“The latest very good data on the federal budget last week didn’t get any attention from most of the media budget reporters, for whom good news is no news. Federal revenues are growing at a brisk pace, up 9% so far in the first two months of fiscal year 2007. That follows 11% growth in […]
Nov22nd2006
Real Hourly Compensation Is Up ALOT
Published by in Economics, General, ModernPolitics and Taxes. 0 Comments Dr. Mark J. Perry, professor of finance and economics at the University of Michigan-Flint in the School of Management sets the record straight on real hourly wages:
One issue is that compensation includes both wages AND benefits, and we should really look at TOTAL COMPENSATION over time, and not just monetary wages.
1. The data in […]
Nov21st2006
Lowering Capital Gains Taxes Helps The Poor
Published by in Economics, General and Taxes. 2 CommentsMIT economist Arnold Kling writes:
Here’s what the data show: cuts in capital gains tax rates tend to coincide with DECREASES in the poverty rate for the time periods for which data are available. For instance, Ronald Reagan cut the capital gains tax rate as part of his tax reform act of 1986.
Bill Clinton cut the […]
Oct28th2006
“”Worst economy since Herbert Hoover,” John Kerry said in 2004, while that year’s growth (3.9 percent) was adding to America’s gross domestic product the equivalent of the GDP of Taiwan (the 19th-largest economy). Nancy Pelosi vows that if Democrats capture Congress they will “jump-start our economy.” A “jump-start ” is administered to a stalled vehicle. […]
Oct11th2006
Not what it used to be, Forbes writes:
Budget Deficit Drops to $250 Billion
The federal budget deficit estimate for the fiscal year just completed has dropped to $250 billion, congressional estimators said Friday, as the economy continued to fuel impressive tax revenues.
The Congressional Budget Office’s latest estimate is $10 billion below CBO predictions issued […]
Aug11th2006
“Socialism and Communism have failed wherever they have been tried, while economic freedom and prosperity have brought unparalleled prosperity to hundreds of millions…But maintaining freedom even in prosperous nations is a never-ending chore. Government, here and elsewhere, constantly threatens prosperity through high taxes and complex rules and regulations”.–Thomas C. Reeves, historian writing in the History […]
Jul27th2006
Quote Of The Day
Published by in Economics, General, HealthCare, Poverty, SocialSecurity and Taxes. 0 Comments“If I were in charge of the budget, we would massively reform entitlements, transforming Social Security into a system of forced savings combined with a means-tested fallback for those too poor to save, or whose investments tanked at the wrong time. We would kill the whole Medicare/Medicaid debacle, along with the tax deduction for corporate-provided […]
Jul26th2006
The Difference Between ‘Old Europe’ And The United States
Published by in Economics, Europe, General and Taxes. 5 CommentsHistorian Thomas C. Reeves, writing in the History News Network, details the differences between ‘Old Europe’ and the United States:
The United States has moved far ahead of every European country in every significant economic category. As Olaf Gersemann recently pointed out, “Adjusted for differences in price levels, per capita income in the United States now […]
Jul17th2006
The Washington Post writes:
On average, at least one millionaire leaves France every day to take up residence in more wealth-friendly nations, according to a government study.
At a time when France is struggling to stay competitive in an increasingly integrated world, business leaders say the country can’t afford to make refugees of some of its most […]
Jul3rd2006
Bipartisan Government Waste
Published by in Economics, Education, General, SocialSecurity, Taxes and University. 4 CommentsHere is a good list of spending cuts that both Republicans and Democrats can support:
Agricultural Subsidies: Everyone’s favorite whipping boy, and for good reason. These subsidies are a handout to rich farmers, and they raise food prices for everyone. $20 billion.
Social Security for the Well-Off: Social Security is not means-tested; people with substantial retirement income […]
Jun6th2006
“One of Mr. Paulson’s first briefings from the Treasury staff should be about what high taxes have done to the economies of Europe. According to research by Nobel laureate Edward Prescott and by economists Steven Davis and Magnus Henrekson, the high tax rates in Europe have reduced work effort and distorted the industrial mix. The […]
May26th2006
“There are four ways in which you can spend money. You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money.
Then you can spend your own money on somebody else. For example, I buy a […]
