INDEX
- Vote 'NO!' to Government Regulation of Privacy at The Economist
- FCC Stalls on Internet Regulation; Asks for More Comments
- Why was the Volcker Commission Constrained by Obama’s Tax Pledge, but not the Simpson-Bowles?
- Daily Media Spotlight September 2, 2010
- Harry Reid Looks to Resurrect RES During Lame-Duck
- Calculating the Cost of Government (CFA Site »)
Thursday, September 2, 2010
- Daily Media Spotlight September 1, 2010
-
Obama Tax Commission Report:
Baby Step Toward IRS Tax Preparation - Dina Titus Launches False Attack Ad on Joe Heck and the Taxpayer Protection Pledge
- Indiana LaunchesTransparency Website (CFA Site »)
- Rally for Jobs Kicks Off Today in Texas
Wednesday, September 1, 2010
- Daily Media Spotlight August 31, 2010
- Let us All Join in on the NOT so “Green Cause”
- California Bag Ban Bill Up for Vote Today
- Norquist to Gov. Pat Quinn: Pick a Flawed Income Tax Hike and Stick With It
- Phil Moffett Signs Taxpayer Protection Pledge in Kentucky Gubernatorial Race
- New Mexico Sets Trends in Transparency Websites (CFA Site »)
Tuesday, August 31, 2010
- Robert Gibbs’s Fuzzy Tax Hike Math
- Daily Media Spotlight August 30, 2010
Monday, August 30, 2010
- 2011 Could Be Ugly for Nevada Taxpayers
- Lame Duck Governor Ed Rendell Not Going Gently Into That Good Night – New Call for Higher Taxes
- Happy Cost of Government Day, California
- Bay Staters Spent 239 Days Paying for Government Burdens in 2010 (CFA Site »)
- Washington Welcomes Cost of Government Day (CFA Site »)
Friday, August 27, 2010
- Spill Commission Should Lift Moratorium Which Has Cost Gulf Residents 12,000 Jobs and $2.1 Billion
- Daily Media Spotlight August 26, 2010
- Why is Dan Onorato Knowingly Misleading Pennsylvania Voters?
- Unions plan on spending big this election cycle
- Utah Tobacco Sellers Feeling the Impact of Tax Hikes
Thursday, August 26, 2010
- Daily Media Spotlight August 25, 2010
- WI Democrats Launch “Blatantly False” Attack on Sean Duffy
- Unions plan on spending big this election cycle (AWF Site »)
- Philly's New Blog Tax May Foreshadow Other eTaxes
- BNA: For 14 States, Existing Tax Code Leaves Room for Etax (Stop eTaxes Site »)
- Philly's $300 Blogger Tax (Stop eTaxes Site »)
- Cost of Government Day Arrives in the Commonwealth
- Pennsylvania Finally Celebrates Cost of Government Day
Wednesday, August 25, 2010
- California Budget Proposal Advocates eTax (Stop eTaxes Site »)
- Daily Media Spotlight August 24, 2010
Tuesday, August 24, 2010
- Daily Media Spotlight August 23, 2010
- Government Workers' Pensions are Underfunded by $3 Trillion
Monday, August 23, 2010
- Fourteen Ways to Reduce Government Spending
- FCC Report on Broadband Performance: A Scare Tactic
- Sen. Al Franken Doesn’t Understand Wireless Networks...or the First Amendment
Friday, August 20, 2010
- Daily Media Spotlight August 19, 2010
Thursday, August 19, 2010
Obama’s “Specific” Speech: Will He Disavow Pledge-Breaking Tax Hikes in House Dem Bill?
From John Kartch on Wednesday, September 2, 2009 1:18 PM
There are four tax hikes in the House Democrat healthcare bill (H.R. 3200) that violate President Obama's promise not to raise “any form” of taxes on families making less than $250,000 per year. The White House has told reporters that Obama is going to get specific on healthcare policy in a speech next week, which begs the question:
If Obama is serious about keeping his central campaign promise, will he disavow the four pledge-breaking provisions in the House Democrat healthcare bill? They are as follows:
Restrictions on tax-deductible purchases of over-the-counter medicines with health spending accounts like FSAs and HSAs. This isn’t in the original H.R. 3200, but it did make it into Charlie Rangel’s “Chairman’s Mark.” The description can be found at www.jct.gov, and it’s document JCX-32-09. The 8 million Americans who have a health savings account (HSA) and 30 million Americans who have a health flexible spending account (FSA) will no longer be able to buy over-the-counter medicines (aspirin, etc.) on a pre-tax basis. Contrary to the Obama rhetoric, this would change the plan people currently have, and raises their taxes in the process. This affects anyone with these types of accounts, not just those making more than $250,000 per year.
Tax on Individuals Not Enrolled in Health Insurance (Page 167): Those who don’t enroll in a health insurance plan will have to pay a new tax equal to 2.5% of income. If they earn $40,000 a year and don’t have health insurance, they will have to pay tax of $1000. Notice how this tax affects all individuals, not just those making more than $250,000 per year.
Tax on Businesses Not Offering Health Insurance (Page 183): If a business has a payroll of at least $500,000 and does not offer health insurance, it will be compelled to pay a new payroll tax of 8 percent. It doesn’t matter if the business is profitable or running a loss. Small businesses pay taxes on their owners’ 1040s. This will affect thousands of small businesses with profits of less than $250,000 per year.
IRS Can Disallow Perfectly Legal Tax Deductions They Just Don’t Like (Page 207): If a taxpayer (including one making less than $250,000 per year) uses a perfectly-legal tax deduction the IRS doesn’t like, the IRS will be empowered to simply disallow it. The only reason the IRS has to give is that the tax break lacks “economic substance”—that is, the taxpayer is not taking the deduction for “substantial” or “business” reasons. For those wanting to engage in a legal activity to cut their tax bill, the IRS wins no matter what.
Tax on Individuals Not Enrolled in Health Insurance (Page 167): Those who don’t enroll in a health insurance plan will have to pay a new tax equal to 2.5% of income. If they earn $40,000 a year and don’t have health insurance, they will have to pay tax of $1000. Notice how this tax affects all individuals, not just those making more than $250,000 per year.
Tax on Businesses Not Offering Health Insurance (Page 183): If a business has a payroll of at least $500,000 and does not offer health insurance, it will be compelled to pay a new payroll tax of 8 percent. It doesn’t matter if the business is profitable or running a loss. Small businesses pay taxes on their owners’ 1040s. This will affect thousands of small businesses with profits of less than $250,000 per year.
IRS Can Disallow Perfectly Legal Tax Deductions They Just Don’t Like (Page 207): If a taxpayer (including one making less than $250,000 per year) uses a perfectly-legal tax deduction the IRS doesn’t like, the IRS will be empowered to simply disallow it. The only reason the IRS has to give is that the tax break lacks “economic substance”—that is, the taxpayer is not taking the deduction for “substantial” or “business” reasons. For those wanting to engage in a legal activity to cut their tax bill, the IRS wins no matter what.
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