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Tax Day or Payday? How the Tax Code Is Expanding Government and Dependency

Nearly half of Americans who file federal income tax returns do not pay any federal income taxes because they receive certain tax credits. Many of these nonpayers actually receive a cash payment from the IRS because of refundable tax credits. Refundable credits are increasing the level of dependency, and nonpayers will soon reach the tipping point where a majority of tax filers pay no taxes and can vote increasing government benefits at no cost to themselves. That is a deadly recipe for never-en...
United States Barack Obama Revenue Service Tax Day Internal Revenue Cuts Benefited All Tax

Building a Better Stimulus Bill

With the recession entering its second year, President Obama has called for a large stimulus package that contains a mixture of tax cuts, new public works projects, and increased government spending on existing programs. House Democrats have already increased the size of the stimulus plan from $775 billion to $825 billion while cutting the amount allocated to tax cuts from $300 billion to $275 billion.
Paul Krugman Georgew Bush Milton Friedman Max Baucus Bryan Tang Franco Modigliani

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Obama Tax Hikes: The Economic and Fiscal Effects

Abstract: Since 1996, Congress after Congress has voted to lighten the tax burden on Americans. The current Congress will decide this fall whether to continue this policy or to significantly raise personal income taxes. President Obama has advanced a plan that reverses the long-standing successful policy: The President and his supporters are calling for tax increases, primarily on upper-income taxpayers and businessesโ€” including small businesses, the primary job creators in the country.
United States Johnl Ligon Barack Obama Georgew Bush Donaldj Pease S Hederman Jr

"Making Work Pay" Credit Will Not Stimulate the Economy

President Barack Obama's "Making Work Pay" tax credit is a major piece of the fiscal stimulus plan currently being debated in Congress. The new credit is being touted as a tax cut, but inreality it is just more spending through the tax code.
United States Heritage Foundation Thomasa Roe Institute For Economic Policy President Barack Obama Making Work Pay President Obama

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