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Taxes Legislative Alerts
President Obama is misguided and disingenuous with his plan to reduce the deficit. During a recent interview, he told the American people that there is “no doubt” that the government needs more revenue to reduce the deficit. The President very carefully avoided talking about where this new revenue might come from and instead vaguely suggested that it may come from eliminating unspecified tax “loopholes and deductions.” Obama likes to pay lip service to reducing the deficit, but has yet to do or propose any meaningful action that would accomplish that goal. He has offered no specifics on where the government would get this money, he already raised taxes in the fiscal cliff bill, and his premise is flat out wrong–the only way to meaningfully reduce the deficit is to cut spending.
By Jason Hughey Throughout the campaign season, President Obama promised he would be a president for the “middle class” as opposed to the “top 1%.” Part of this promise included giving the “middle class” a tax break. The immediate problem with this rhetoric is that it is divisive. It buys into the ugly notion that [...]
Congress extended the wind production tax credit in the fiscal cliff package. AFP has been a leader in opposing this handout for the wind industry.
The last-minute deal to avert the so-called fiscal cliff suffers from some of the worst ailments of Washington’s backroom deals. Primarily, it does not address the nation’s fiscal imbalance because it allows taxes to go up but fails to tackle the true driver of our economic woes: runaway government spending. Not surprisingly, President Obama has already stated that he wants to raise taxes again next year too.
By: James Valvo Lost among the frenzy to raise taxes, the only substantive programmatic spending reduction that the two sides agree on is an adjustment to the way Social Security Cost of Living Adjustments (COLAs) are calculated. The current formula uses the Consumer Price Index for Urban Wage Earners (CPI-W); the two sides have agreed [...]