Category: Taxes

Obama genuflects before Big Business

His fiscal cliff deal contains big corporate tax breaks It was his chance to get rid of off-shore tax advantages and other corporate welfare. So, why did he insist they be part of the Jan. 1 financial rescue? Here’s the essence of the deal that the White House and Congress reached to pull America back... Read more »

Just how much taxes should the rich pay to be fair?

There are few good answers What’s fair? Upon that question revolved a presidential election and the economic future of America. What’s not fair, we’re told, is rich people not paying higher taxes. But no one seems able to say just how much more they should cough up. The fairness argument won President Barack Obama re-election... Read more »

New Obama taxes that will hit the 99 percent

Ever hear of the Flexible Spending Account (FSA) Cap? Or the Medical Itemized Deduction Hurdle? If not, you should know that they are among the seven new taxes you can rack up to President Barack Obama that’ll hit the middle class. Curious? The sorry tale is at Brietbart.
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Do you think that you could live on a $427,000 pension?

That’s what a retired University of Illinois professor rakes in. According to Jim Tobin, of Taxpayers United of America, a bunch of others also are pulling in the kind of pensions that the Illinois public employee pension system simply cannot sustain. His press release reads: The most outrageous pensions in all the Illinois state pension... Read more »

Illinois unemployment rate increased most in the nation in 2011

According to the Illinois Policy Institute: As Gov. Pat Quinn prepares for the State of the State address on Feb. 1, he will find it difficult to defend the state’s economic policies that have resulted in more unemployed Illinoisans in 2011. Almost a year after Illinois’ record income tax increase, the state’s unemployment woes contrast... Read more »

IL temporary tax increases may not be so temporary

An increase of $7 billion is not enough to cover spending. To no one’s surprise. Illinois Statehouse News takes a closer look at what the state’s huge income tax increase is doing to extricate Illinois from its pathetic economic condition. Apparently, not enough. The article considers the possibility of making the tax increase permanent when... Read more »
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It's bad enough that pensions are draining Illinois dry; now Sears and others also want to

If Ohio wants to shower Sears Holding Corp. with $400 million to lure the retailer away from Hoffman Estates, I say, “Fine, do it.” And let Ohio Gov. John Kasich (R) explain to his taxpayers why his state’s bribe is four times greater than the $100 million that Illinois reportedly had offered. But if I... Read more »

Cost of Illinois tax breaks grows as support for them wanes.

That’s according to the Illinois Statehouse News which reports: A tax break package meant to boost a business community hit by the Great Recession could cost the state $848 million in just three years. The only funding source specifically outlined to date for the package is a change to the Illinois tax code that would bring in $571... Read more »

Senators move to stop ObamaCare tax

Most attention in the ObamaCare fight has focused on the courts especially the Supreme Court’s decision to weigh the constitutionality of the requirement that every American buy or have health insurance. But let’s not forget some of the other onerous provisions of the law that don’t require a court override. Congress can always repeal parts... Read more »
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End all energy subsidies, whether for coal or renewables.

Now here’s an idea that I could support, and I think that many Americans would too. Below is a press release highlighting legislation that would do exactly that. It’s from Freedom Action, “a web-based gathering of activists dedicated to self governance and free markets.”  Its web site is FreedomAction.org. Freedom Action Supports New Bill to End Energy... Read more »