Taxes

A $787-billion stimulus. Liabilities of $356 billion for the TARP bailout on the federal government's balance sheet. And that's in addition to other unfunded liabilities from federal entitlements like ObamaCare, Medicare, and Social Security. But that doesn't mean the U.S. is heading down the path toward socialism because they were one-time expenditures, according to CNBC senior economics…

David Ignatius, an op-ed columnist for the Washington Post, thinks a value-added tax (VAT) may be just the ticket to get the United States out of its deficit mess. That's what he argued in a column on April 29: "President Obama could champion the cause of deficit reduction. He could insist that the new bipartisan National Commission on Fiscal Responsibility and Reform that began work…

Is the Tea Party movement nothing but a mirage? That’s the impression left by an odd confluence of recent reports.First, the Christian Science Monitor’s Patchwork Nation blog reported that the entire Tea Party movement consists of just 67,000 members. PBS NewsHour cross-posted the story on its The Rundown blog the same day. The next day, CNN reported the findings on its Political Ticker blog and…

The Pentagon rescinded the invitation of evangelist Franklin Graham to speak at its May 6 National Day of Prayer event because of complaints about his previous comments about Islam. The Military Religious Freedom Foundation expressed its concern over Graham's involvement with the event in an April 19 letter sent to Secretary of Defense Robert Gates. MRFF's complaint about Graham, the son of…

So you do your part and pay your taxes to the federal government. However, you feel you pay too much and you don't like how that same government uses that money. Do you have the right to petition and protest that government? If it's on federal land that your tax dollars paid for, then your protest is hypocritical nonsense, according to MSNBC host Rachel Maddow. To her, the tea partiers, who…

It's pretty obvious that oftentimes the media and the Democratic Party work in concert to marginalize opposition of a common goal. ABC's George Stephanopoulos working with White House Chief of Staff Rahm Emanuel was just one example. The question is, how far will the media and Democrats take it?  According to Rep. Michele Bachmann, R-Minn., if the passage of ObamaCare is evidence, they're…

Talk about running interference. On Wednesday, Congressman Henry Waxman cancelled hearings, or what Michelle Malkin referred to as "show trials" in her Friday syndicated column, designed to put the spotlight on companies that dared to do what they legally had to do in response to the passage of ObamaCare: tell the public the estimated impact on their bottom lines relating to a specific tax law…

Watch the latest business video at <a href="http://video.foxbusiness.com/">video.foxbusiness.com</a>Another devastating intended/unintended consequence of the Obama administration's major government expansion: charity organizations (already in deep struggle to weather current economic conditions) will likely experience…

The media is still having trouble understanding the Tea Party movement and what it is protesting, even though its roots are clear.  On Feb. 19, 2009 during CNBC's "Squawk Box," Rick Santelli made his famous rant heard around the world, calling for a so-called tea party-style revolt. And that helped fuel the growth of a Tea Party movement that has resulted in more than 600 protests this April 15…

The Boston Globe is a proudly liberal newspaper. So it’s a little stunning for their staff writers Christopher Muther and Hayley Kaufman to suggest that tax refunds are best spent on conspicuous consumption. They suggested “you may want to put any windfall toward your credit card bill,” but they didn’t suggest liberal Globe readers redistribute their refund income to the poor in the inner cities…

While the tea party movement began to take shape in late February of 2009, the CBS Early Show did not offer a complete story on it until nearly 14 months later, with co-host Harry Smith declaring: "Today is tax day, April 15th. And thousands of tea party activists are headed to Washington...a new CBS News/New York Times poll is showing us just who these passionate conservatives really are."…

There's a new CBS News poll getting a lot of attention the past few days claiming that more Americans believe their taxes are fair today than did in 1997.Unfortunately, the coverage ignores why this likely is the case: the percentage of Americans that don't pay taxes has doubled since 1997.As such, it makes sense that more folks feel their taxes are fair.Such logic wasn't included in CBSNews.com'…