In order to protect the new national health care law from legal challenges, the Obama administration has been forced to argue that the individual mandate represents a tax — even though Obama himself argued the exact opposite while campaigning to pass the legislation.
Late last night, the Obama Department of Justice filed a motion to dismiss the Florida-based lawsuit against the health care law, arguing that the court lacks jurisdiction and that the State of Florida and fellow plaintiffs haven’t presented a claim for which the court can grant relief. To bolster its case, the DOJ cited the Anti-Injunction Act, which restricts courts from interfering with the government’s ability to collect taxes.
by Geoffery S. Shough
hat tip: GeofferyShough.wordpress.com
“There are a thousand hacking at the branches of evil to one who is striking at the root.” —Thoreau
For the past century, a general trend has taken shape in America where Americans are finding it harder and harder to make ends meet. There was a time in this country when only one member of the average household needed to work in order to support a family, and now it is not uncommon to have both adults in the household working to support their families. To make matters worse, many of the products we buy are declining in quality, and in many cases these same products are becoming more expensive. America has gone from a nation of savers and producers to a nation of debtors and consumers.
There are many explanations behind why this trend is occurring in America, but the most cogent among them is that the Central Bank, called the Federal Reserve (Fed), through its ineptitude in managing monetary policy, produces a hidden tax and causes serious imbalances in the economy with long term and far reaching effects.
Ohio’s Estate Tax Must come to an End
“Estate tax repeal should be a no-brainer: More family businesses and farms growing in size. More jobs. More tax revenues.” Dick Patten, president American Family Business Foundation.
For centuries, economists have pointed out the harmful economic effects of estate and inheritance taxes.
Excerpts from the book Rich States, Poor States (by Laffer, Moore, Williams, 2009) explain the harm:
“Many studies indicate that the death tax is so inefficient, so adverse to saving and capital investment, and so complicated, that the states and the federal government would actually recoup much if not all revenues lost from this tax with higher tax receipts resulting from long term economic growth.
“The estate tax causes distortions in household decision making about work effort, saving and investment (and the loss of economic efficiency) that are even greater in size than those from other taxes on income from capital.”
Today! Learn What is Wrong with Our Tax Code &
What Would a Good Tax Code Look Like?
Thursday, March 4 at 7 pm
Old Bag of Nails
66 N Sandusky St
Delaware, OH 43015
- We Will be in the Wesleyan Room in the Back of the Restaurant. There will be a sign.
Michael J. Maurer, Editor of the Ohio Citizens Accounting Standards Board will be introducing a new project called OpenOhio.
OpenOhio is a private effort to encourage transparency and accountability in state and local Ohio govenments. Sponsored by friends of the Ohio Citizens Accounting Standards Board, OpenOhio.org pledges to publish complete checkbooks and salaries for all of the 3,000 basic taxing jurisdictions in Ohio by April 15th. We call this our Transparency by April 15th project.
“Politicians and bureaucrats not only lie, they brag about how it’s necessary to lie and they study “professional” methods of doing it. It’s long past time to put an end to this nonsense–indeed it might be too late to save our government—and a good start would be telling the truth about taxes and spending.” Michael J. Maurer
Hat tip: The New American
by Thomas R. Eddlem
February 26, 2010
An alternative budget proposal submitted by Congressman Paul Ryan (Wis.), the House Budget Committee’s Republican ranking member, would increase the federal budget deficit even more than President Obama’s bloated budget — nearly $1 trillion more — according to a February 24 analysis by the Congressional Budget Office (CBO).
Ryan’s “alternative policy scenario” would make no serious spending cuts, but it would institute three new tax cuts. CBO Director Douglas Elmendorf explained to Ryan that “the three changes to the tax policy assumptions are estimated to increase deficits relative to the baseline projections by $9 billion in 2010 and $3.4 trillion over the 2011-2020 period, mostly from lower revenues but also from increased outlays for refundable tax credits.”
“CBO estimates that, under the alternative scenario you specified, the deficit would amount to $1.2 trillion in 2020, about $500 billion more than the shortfall projected under baseline assumptions.”
Overall, the Republican budget alternative would increase the federal budget deficit by $9.4 trillion over the next 10 years, while President Obama’s fiscal 2011 budget would increase the deficit by $8.5 trillion over the same period of time.