Every afternoon I get links in the mail from readers and from publishers. I scroll through them and because The US Report has a very small staff of 3 (one full and a half time and two contractors), I know there's no way to write stories about all of them. We have to forego a lot of breaking stories--I like to tell you stories that other writers overlook. Recently legacy media caught up to topics we covered 6 months to a year ago.
Entries in tax deductions (3)
By Kay B. Day
At the moment there’s a sword hanging above Main Street. President Barack Obama’s fiscal commission is exploring ways to get the US government money machine in order. Secretary of State Hillary Clinton has (not for the first time) called for “wealthy” people to pay higher taxes.
Note to you: if you earn $250k or more, you are amazingly wealthy!
Truth is Dems have wanted a tax all along. One indicator is Joe Biden’s September, 2008 statement that paying more taxes is the “patriotic” thing for wealthy folks to do. Obama has echoed that sentiment all along.
But here’s the puzzle. Wealthy Democrats could actually turn their tax lust into a “patriotic” lobby effort. They can see to it that federal coffers grow fatter and institute a de facto tax increase without the blessings of the US Congress or anyone else.
How? [Story continues after video.]
By Kay B. Day
You should laugh when you read about President Barack Obama’s tax increases in some dinosaur media allied with Democrats for as long as I can remember. For example, my hometown newspaper—normally viewed as fairly conservative—carried a headline on the front page, above the fold on Monday: “Tax increase for wealthy about to start.”
That header is only half true. The story is reprinted from The Chicago Tribune.
Obama and his fellow redistributors of wealth refuse to own up to a tax increase that will hit more than the wealthy. Democrats call this increase letting the ‘Bush tax cuts for the wealthy’ expire.