The Washington Post yesterday posted an editorial opposing the repeal of the Affordable Care Act’s medical device tax, on the grounds that it would constitute “caving in to special interests.”
That view of the...
During his attempt to calm the markets yesterday, President Obama once again signaled his belief that America needs higher, not lower taxes. Indeed, the Wall Street Journal is reporting that Obama's remarks had "included a call for tax changes that would boost payments from 'wealthy Americans and corporations,' but this phrase was taken out at the last minute. None the less, Mr. Obama seems obsessed with the notion that wealthy Americans and corporations are not paying enough taxes.
The President's notions are not, however, grounded in fact. Let's review the data on individual taxpayers first:
The data also shows that the corporate tax burden is extremely progressive as well.
Obama repeated statements that the wealthy and corporations are not paying their fair share of taxes are simply false. The facts show that the very taxpayers Obama wants to raise taxes on are already paying more than their fair share of taxes and that the majority of Americans are getting the benefits of government spending while contributing next to nothing to its basic cost. That is a recipe for fiscal and social instability.
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That view of the...
This post originally appeared as a Forbes op-ed here.
Ohio tax policy needs a lot of work, and Governor John Kasich talks about it a lot. The state ranks 44th in the Tax Foundation’s State Business Tax Climate...