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Anti-Americanism - Budget - Business - Congress - Democrats/Leftists - Economy/Finances - Government - Heritage Foundation - Liberals - Taxes - Warner Todd Huston

In Pictures: How Much the Top Earners Already Pay in Taxes

October 7, 2011 by

America has heard a lot of talk about the “Buffett Rule” — President Barack Obama’s plan to make the tax code more “fair” by permanently raising taxes by $1.5 trillion over 10 years, with most of the burden falling on families and businesses earning more than $250,000 per year. But if he wants to talk about “fairness,” he should look at how much top income earners already pay in taxes, as the chart below shows:

In a new paper, Heritage’s Curtis Dubay explains that the supposed “fairness” of the new rule is anything but fair:

To President Obama, it is “fair” to raise taxes on families and businesses earning more than $250,000 a year by raising their income tax rates and limiting their deductions. That must also mean he believes that they currently pay too little in taxes.

Yet the data show the highest-earning families and businesses already pay the lion’s share of the federal income tax burden. According to the IRS, the top 1 percent of income earners—those earning more than $380,000 in 2008—paid more than 38 percent of all federal income taxes while earning 20 percent of all income. The top 10 percent ($114,000 and above) earned 45 percent of income and paid 70 percent of all taxes. At the same time, the bottom 50 percent of income earners—those earning less than $33,000—earned 13 percent of all income and paid less than 3 percent of federal income taxes.

Read more of Dubay’s paper, “The Buffett Rule: Fair to No One,” at Heritage.org.

Budget - Democrats/Leftists - Economy/Finances - Government - Heritage Foundation - Liberals - Taxes - Warner Todd Huston

Dear American, You Owe the U.S. Gov’t $31,871

September 5, 2011 by

-By Warner Todd Huston

Thanks to the profligate spending in Washington D.C., each American citizen’s share of the debt is now up to $31, 871, as you can see by the chart below…

But that is nothing compared to where it will be in just a few short years. As the chart shows if things continue the way they are now, by 2032 each American’s share of the debt will soar to over $100,000. And by 2050 each American’s burden will be closing in on $300,000.

These are the result of Washington’s drunken spending sprees and the unfunded mandated spending that politicians continue to push. Without entitlement reform and a way to cut spending, the United States of America will default. There simply is no way to maintain these wild levels of spending.

This chart can be found in the Heritage Foundation’s 2011 Budget Book which features charts on federal spending, revenue, debt and deficits, and entitlement programs.
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Dear American, You Owe the U.S. Gov’t $31,871″

Budget - Capitalism - Congress - Democrats/Leftists - Economy/Finances - Elections - Government - Jobs - Liberals - President - Stimulus - Taxes - The Heritage Foundation - Warner Todd Huston

Pelosi’s Last Lame Duck- What Could Go Wrong?

November 5, 2010 by

Once again we get a fly-on-the-wall perspective of what is going on in the office of “our congressman,” hereafter known as our lame duck congressman.

So, now that he’s been pitched out on his left-wing, what will “our congressman” be planning for that lame duck session?

Let’s peek in and see…

Me, I call it a zombie congress instead of a lame duck congress. After all, it’s dead men walking, dead men that don’t know they are dead, dead men that still feed off the living blood of our taxes, dead men that eat our flesh, killing us all.

Budget - Congress - Democrats/Leftists - Economy/Finances - Elections - Government - Heritage Foundation - House of Representatives - Liberals - Senate - Taxes - Warner Todd Huston

Our Democrat Congressman: Selling That Obama Economy

October 13, 2010 by

And now we check in again in the office of “Our Democrat Congressman” to see how he and his staff are trying to spin this disastrous Obama economy…

Obama Tax Hikes: What’s Their Excuse? from Heritage Action for America on Vimeo.

Another great video from the Heritage Foundation staring Clint Howard as “Our Democrat Congressman.”

Business - Democrats/Leftists - Elections - Government - Health - Indiana - Liberals - Taxes - The Heritage Foundation - Warner Todd Huston

Video: Ind. Gov. Mitch Daniels Says Obamacare Has Devastating Consequences

August 27, 2010 by

Governor Daniels also offered an op ed to go with his video…

We’ve been through a global recession. Now we’re fighting through a stalled recovery. Revenues are the lowest they’ve been in half a century. Their finances a wreck, many states have effectively sunk into bankruptcy.

Indiana is still afloat. In fact, we’ve fared better than most. We continue to meet our obligations without raising taxes, and the reserves we carefully built and protected will get us through the downturn.
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Video: Ind. Gov. Mitch Daniels Says Obamacare Has Devastating Consequences”

Anti-Americanism - Budget - Constitution - Declaration of Independence - Founders - Heritage Foundation - Patriotism - Revolutionary War - Rights - Taxes - Warner Todd Huston

Reclaiming Our Founding Principles

July 6, 2010 by

-By The Heritage Foundation

Happy Birthday America! America is 234 years old. She was born on July 4, 1776, with the passage of the Declaration of Independence. Since then, America has grown from thirteen colonies on the east coast to fill a vast continent. Her economic and military power is envied around the world. And the American people are hardworking, churchgoing, affluent, and generous.

Independence Day is an opportunity each year to remember the root of our success — our founding principles as set forth in the Declaration of Independence.

The Declaration of Independence serves as a philosophical statement of America’s first principles. As Matthew Spalding describes, the Declaration affirms that all men are created equal. By nature, men have a right to liberty that is inalienable, meaning it cannot be given up or taken away. And because individuals equally possess such inalienable rights, governments derive their just powers from the consent of those governed. The purpose of government is to secure these fundamental rights, and the people retain the right to alter or abolish a government that fails to do so.

These principles have made America the great nation it is today. But, since the early 20th century, these principles have been under attack in the academy, the media, and popular culture. So-called progressives have rejected the existence of self-evident truths in the Declaration of Independence and elsewhere. Instead, they embrace the notion of “Progress”that is constant change towards an unspecified end. From these faulty principles, it follows that, all men are not created equal; some people are further along in the historical process than others. There are not permanent rights with which man is endowed. Government creates rights, and these rights evolve according to the demands of the time. There is no need for consent of the governed, just experts who will tell us how to live and how to progress.

This is a serious attack on our principles, but not an insurmountable one.
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Reclaiming Our Founding Principles”

Conservatives - Heritage Foundation - Warner Todd Huston

Heritage Foundation Launches New Grassroots Effort

April 10, 2010 by

The Heritage Foundation is undertaking a new effort to spread the conservative word through grassroots organizing with its new Action for America.

I know that Heritage has some 600,000 members world wide these days and it is good to see them trying to take the next step toward the promulgation of conservatism.

From the website:

For nearly four decades, The Heritage Foundation has provided conservative leadership for America. What began as a visionary startup policy shop has blossomed into the most influential think tank in the nation. Along the way, Heritage adapted to market pressures to maintain its position as the world’s most cutting-edge and influential research institution.
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Heritage Foundation Launches New Grassroots Effort”