Taxmageddon won’t be the result of one massive new assault on our wallets. Instead, it will come from tax cuts expiring in seven categories, along with new tax increases taking effect because of ObamaCare.
Hopes for new private initiatives in manned space flight are reaching new heights following SpaceX’s successful launch of its Dragon capsule into low Earth orbit. The launch of the Dragon on May 22 was the beginning of SpaceX’s first mission to the International Space Station (ISS), fulfilling a job for NASA that the space agency no longer has the capacity to conduct on its own: Reach the space station it helped to build.
Democrats have been having a field day with the cry of "tax cuts for the rich" — for which Republicans seem to have no reply. This is especially surprising, because Democrats made the same arguments back in the 1920s, and the Republicans then not only had a reply, but one that eventually carried the day, when the top tax rate was brought down from 73 percent to 24 percent.
The latest report from the non-partisan Congressional Budget Office (CBO) released on Tuesday said that if the country falls off the “fiscal cliff” — variously also called “taxmageddon” — it will likely enter a new recession.
The fact that so many successful politicians are such shameless liars is not only a reflection on them, it is also a reflection on us. When the people want the impossible, only liars can satisfy them, and only in the short run. The current outbreaks of riots in Europe show what happens when the truth catches up with both the politicians and the people in the long run.
Executive Orders to reduce regulatory burdens on the economy, such as the one issued last week by President Obama, are likely to have little if any effect. A better solution is for Congress, which created the monstrous regulatory state, and which still has the power to shut it down, to starve the agencies by failing to renew their requests for operating funds.
A new study published by the Health Care Cost Institute (HCCI) could proffer a formidable challenge to the Obama administration’s regulated approach to tapering healthcare costs, as the analysis found that healthcare spending is growing moderately, up 3.3 percent in 2010 but still three times the pace of general inflation.
In the effort to recall Wisconsin Governor Scott Walker, much has been said about his record to date, but politics being what it is, many of the claims simply aren't true.
In the face of the $500 billion "taxmageddon" tax increase coming in 2012, Congress will pass the buck. Nothing is likely to happen before the election, and the lame duck Congress will then drop-kick the issue into next year by extending current law and letting the new Congress deal with it.
A new Government Accountability Office (GAO) study, commissioned by Sen. Tom Coburn (Okla.), is questioning the federal government’s $18-billion job training program.