News
Market Watch | Obama tax plan could push some banks to shrink
President Barack Obama’s tax proposal could increase costs for banks — and could even lead banks to reduce their size.
Market Watch | Treasury Secretary Lew calls for lower corporate tax rate
Treasury Secretary Jacob Lew said Wednesday that the U.S. should lower the corporate tax rate but do so by closing loopholes, in a way that is revenue neutral in both the short and long term.
Market Watch | Republicans say Obama plan imperils tax reform
Republicans say President Barack Obama’s decision to pitch tax changes for individuals in his State of the Union address — like raising capital gains taxes on the wealthy — show Obama isn’t serious about tax reform.
Econ Comments & Analysis
National Review Online | Obama’s New Tax Plan: Destructive Social Engineering
The tax proposals in President Obama’s new economic plan are significantly worse than we expected, combining several tax increases on investment with an especially destructive form of social engineering.
Washington Times | The rich pay more than their fair share
Since he first appeared on the national stage, Barack Obama has been claiming that the "rich" don't pay their "fair share" of taxes. But to the contrary, the "rich" pay far more than their "fair share", which official IRS and CBO data have shown for years, reconfirmed in new, recent reports.
The Daily Beast | Obama’s Half-Assed Tax Hike Populism
Eight years after launching his campaign, and six years after being inaugurated, President Obama is finally living up to the greatest fears of his detractors in a significant way. Tonight, he’s expected to propose a plan to tax the rich and banks more, and distribute the proceeds to those on the lower rungs of the income ladder through tax credits. But he still won’t do much to address a glaring tax loophole that exists only to help the rich get richer.
Forbes | Arguments For Higher Gas Taxes Run On Empty
IF YOU WANT TO KNOW what fuels Americans’ ire with our political class, just look at the hot new idea percolating in Washington and state capitals: Raise taxes on gasoline! Thanks to a stronger dollar and burgeoning oil inventories, gas prices have plummeted. The typical family may save $550 or more this year, money they can now spend on other necessities or things they enjoy. Winter heating bills will be lower. Should this trend last, auto and truck manufacturers will get a big break: People will buy bigger vehicles, which is where the juicy profit margins are.
Bloomberg | Avoiding Taxes Can Be Really Expensive
Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes.
