News
Fox Business | Proposed Tax Hikes Would Target Families Earning $250K+
...the Office of Management and Budget said the plan's $1 trillion in new tax revenues would be generated mainly by reducing or eliminating tax deductions for individuals earning more than $200,000 a year and families earning more than $250,000 annually.
Econ Comments
NRO | What the Taxman Wrought
“Taxman” was inspired by the fact that during their heyday, the Beatles were subject to the super tax, meaning that their earnings were taxed at marginal rates of up to 95 percent
WSJ | Waste, Fraud and Abuse
He then outlined a four-step "approach"--it wasn't detailed enough to achieve planhood--that showed his promise of honesty to be an utter fraud.
Cato Institute | Obama's Soak-the-Rich Tax Hikes Won't Work
Even if the president could persuade Congress to enact all of his proposed tax increases, in addition to surtaxes already included in ObamaCare, the CBO finds we would still face endless budget deficits averaging 4.8% of GDP.
Washington Times | KING: It’s time to shut down the IRS
FairTax would end disincentives for productive behavior.
WSJ | The Forgotten Tax Revolt of the 1930s
When thousands of Chicago property owners went on a tax strike, the mayor threatened to cut off their water.
Blogs
USA Today: The Oval | White House launches new tax calculator
Beginning today, taxpayers can go to a new interactive site -- whitehouse.gov/taxreceipt -- and plug in either the amount they paid in taxes this year or their annual income and see exactly how their tax dollars are divvied up.
Heritage Foundation | Morning Bell: Hiding Future Tax Hikes on Tax Day 2011
In 2010, the federal government collected about $2.2 trillion in total tax revenue. Income taxes accounted for $900 billion of collections, or about 40 percent of all tax receipts.
Political Calculations | Tax Day Fun: eFile Your 1913 Income Taxes!
...what better way to mark the upcoming day income taxes are due than by providing another form for you to fill out to see how much you would have been taxed when income tax forms were first issued by the IRS in 1913!
Reports
Heritage Foundation | Tax Day 2011: Deficit Spending Hides Future Tax Hikes
If Americans knew the level of income taxes they would have to pay in the not-too-distant future to cover current and future federal overspending, Tax Day would be even more alarming.
