In yesterday's House hearing, the Treasury Inspector-General was asked if he could list which organizations had been targeted by the IRS for delayed approval or harassing questions. He replied that he could not make that...
- Forbes Blog Cites Tax Foundation on Bush-Era Tax Cuts
Forbes Blog Cites Tax Foundation on Bush-Era Tax Cuts
By Doug Bandow
The unruly Democratic coalition can unite around little other than raising taxes. Only with higher revenues can the various interest groups carrying the Democratic banner enrich themselves at public expense.
Not surprisingly, few people who actually work and pay taxes are enthused about turning more of their money over to Washington. So big-spending pols have to resort to increasingly creative arguments for pushing up the government's take.
From 2001 to 2011 a projected surplus of $5.6 trillion turned into a real deficit of $6.1 trillion. Noted the Heritage Foundation's Brian Riedl, the "tax cuts were responsible for just 14% of the swing." A similar analysis by the Tax Foundation's Scott Hodge figured that number at 16%.
The biggest factors by far were increased spending and lower economic growth. Today's huge deficit is almost entirely due to them, as the impact of the Bush tax cuts continues to diminish. There are many people to blame for exploding deficits, but not because they reduced income tax rates.
Maryland Gov. Martin O’Malley’s office took a swipe at a grass-roots citizens’ group over a report claiming people are leaving Maryland for Virginia, beginning a fight in cyberspace between the governor, the citizens’ group and an established...