Taxes

In his Wednesday Business Day column, David Leonhardt, the New York Times's conscience on economic matters, defended the current skewed tax system, in which almost half of U.S. households paid no income taxes last year, and even argued that those now paying the highest rates should be paying even more: "Behind The 47% Talking Point." Leonhardt never addressed the underlying point of conservative…

As procrastinators rush to beat the April 15 tax deadline and thousands rally at Tea Parties to oppose out of control government spending, politicians and the national news media are mulling the possibility of a new European-style national sales tax. On April 6, former Federal Reserve chairman and current White House economic adviser Paul Volcker revealed the Obama administration's possible…

Last May, I wrote a column called "The Federal Deficit Becomes Nearly Indecipherable," pointing to a mid-fiscal year policy shift in how the government handles the Troubled Asset Relief Program (TARP) and other bailout efforts: What Treasury did in April (2009) was to convert the TARP “investments” it began making in October in the country’s financial institutions, General Motors, Chrysler…

Watch the latest business video at <a href="http://video.foxbusiness.com/">video.foxbusiness.com</a>NPR and Fox News contributor Juan Williams does not see vitriolic blanket-statements condemning conservatives…

The left wing seems to know no bounds in its efforts to ideologically cleanse CNN of any seemingly rational point-of-view when it comes to the issues of the day. Although liberal were successful in their effort to rid the network of Lou Dobbs, some elements are now hung up on also eliminating recently hired contributor Erick Erickson from CNN's programming. And now a liberal group called…

Liberal commentator Nancy Skinner conceded there is one issue the right is right on - the value-added tax (VAT) is an absurd idea. Skinner who is a regular guest on the Fox Business Network, stated April 7 that the VAT will do absolutely nothing to help the ailing economy, concurring with the "Bulls and Bears" panel.     "Everybody, you're going to be surprised: I finally found a tax I don't…

Pop quiz: how do you cut taxes on low and middle-income wage earners and end up with a greater percentage of people paying taxes?Such is a question the folks at the Associated Press should be asking themselves concerning a piece the wire service published Wednesday entitled "Nearly Half of US Households Escape Fed Income Tax: Recession, new tax credits have nearly half of US households paying no…

Since Obama's health care legislation has been signed into law, the media have been in overdrive about the backlash - whether it's been former Alaska Gov. Sarah Palin's "reload" metaphor "targeting" certain congressional districts or how Republican lawmakers have supposedly encouraged violence by their floor rhetoric. Media personalities and Tea Party movement detractors have been agog - saying…

So we have a health care reform entitlement now, along with various unfunded liabilities, courtesy of the federal government. The next question is - how are we going to pay for all of it? Last week following the passage of health care legislation, syndicated columnist Charles Krauthammer predicted a value-added tax (or VAT) could be in the works, which is a consumption tax that is placed on a…

Watch the latest business video at <a href="http://video.foxbusiness.com/">video.foxbusiness.com</a>Curt Schilling is finding out that starting a small business in the state of Massachusetts is more taxing than 50,000 heckling Yankee fans could ever be. Schilling and wife Shonda were interviewed on…

After cheerleading and campaigning on the issue for months, the network news media gleefully reported the signing of the $938 billion monumental health care "reform" bill on March 23. At the signing, President Barack Obama emphasized "tax credits" in the bill to help roughly "4 million small-business men and women, to help them cover the cost of insurance for their employees." The…

ABC News correspondents Brian Rooney and Laura Marquez “are among the ABC reporters whose contracts will not be renewed as the network looks to shed anywhere from 300-400 jobs by the end of the year,” TV Newser reported in a Wednesday afternoon post. (Earlier item from The Enterprise Report.). The names of the two California-based correspondents (Rooney in Los Angeles and Marquez in San Francisco…

New York Times columnist Charles Blow and MSNBC contributor Mike Barnicle traded liberal talking points like Topps baseball cards on today’s “Morning Joe.” Confident the American people care more about eliminating preexisting conditions and expanding health insurance entitlements than the $569.2 billion tax increase and the $1.2 trillion price tag, the journalists failed to substantiate their…

Remember when it was the liberals that considered the potential of a value added tax or VAT in the United States? More and more, conservatives are starting to express their concerns about it becoming a reality.  The VAT is a consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. For example, as Investopedia.com explains, "When a television…