Jul 25, 2012, 4:19 pm EDT
By Curtis Dubay, The Heritage Foundation
Taxmageddon is the one-year $494 billion tax increase that is poised to strike the economy on January 1, 2013. It consists of expiring tax policies such as those set in 2001 and 2003 and the 2010 payroll tax cut. Taxmageddon also includes five Obamacare tax increases.
Congress should not let Taxmageddon occur. It will devastate the economy and job creation. Below are the top five reasons Taxmageddon destroys jobs. Read
Jul 25, 2012, 10:56 am EDT
Now he tells us!
Sandy Weill, the former CEO and chairman of Citigroup (NYSE:C) who invented the one-stop shopping financial supermarket idea of too-big-to-fail banks, says we should break them up.
That’s right: The man who spearheaded the death of Glass-Steagall — the Depression-era law that separated commercial banking from investment banking and insurance underwriting — now thinks we should go back in time and undo all these risky combinations. Read
Jul 24, 2012, 5:15 pm EDT
If K Street has seemed a little less busy over the past few months, there’s a good reason for that.
The top 50 lobbying spenders spent $30 million less in the second quarter of this year than they did during the first quarter, according to lobbying disclosure releases. Overall, they spent $168 million between April and June.
In many cases, the corporations and trade groups that make up the top lobbying spenders made deep cuts to their lobbying efforts. AT&T (NYSE:T) went from spending $7.05 million during the first quarter to $3.49 million in the second, a nearly 50% cut. Also making $1 million-plus cuts were companies like ExxonMobil (NYSE:XOM), General Electric (NYSE:GE), Google (NASDAQ:GOOG), Pfizer (NYSE:PFE), Novartis (NYSE:NVS), and Johnson & Johnson (NYSE:JNJ). Read
Jul 23, 2012, 3:07 pm EDT
Political fundraising events are often star-studded affairs. The one being planned for President Obama by Vogue Editor-In-Chief Anna Wintour and producer Harvey Weinstein is no exception.
The guest list has not been made public, but Meryl Streep and Michael Kors were among the attendees at a prior Obama fundraising event Wintour co-hosted with actress Sarah Jessica Parker, The Hill reports.
The event will take place on August 6 at Weinstein’s estate and reportedly cost a whopping $35,800 per plate. Read
Jul 23, 2012, 11:32 am EDT
If recent polling is any indication, all the campaign ads and candidate visits that Mitt Romney and Barack Obama have rolled out are preaching to the choir.
A recent poll conducted by The Washington Post and ABC News found there are fewer undecided voters than there were in the past three elections.
Only 6% of those polled said there was a good chance they would change their mind on who they were voting for. Another 13% said it was possible they might change their mind, but unlikely. That leaves less than 1 in 5 voters who say there’s any chance they will change their mind. Read
Jul 22, 2012, 9:03 pm EDT
Former President George W. Bush has kept a low profile since leaving office in 2009, and don’t expect him to jump back into the spotlight any time soon.
The latest proof that Bush wants to stay low key? He has declined an invitation from the Republican National Convention to attend. Bush made the announcement through an e-mail sent by his spokesman.
When asked if Bush had been invited to speak at the convention as well as attend, the spokesman said that Bush had declined before any speaking details had been discussed. Read