Today, the Obama Administration released its $3.76 trillion budget for 2011.  The budget’s ugliest features are a $2 trillion tax increase on upper-income taxpayers and businesses, and a $1.56 trillion deficit. This new abomination of tax-spend-borrow waste is less of an actual budget than it is the Christmas list of a spoiled brat.

Despite the public outrage with and spectacular failure of his signature policy initiatives, in last night’s State of the Union Obama confidently promised to pursue an ambitious liberal agenda of intrusive government. Like a desperate poker player with a losing hand, Obama is too proud to fold, and hopes to bluff his way to victory. [...]

The Obama Administration’s “bailout tax” is a political sham which punishes success, rewards failure, and will negatively affect the economy.

The ball has dropped – it’s 2010. Midterm elections. American voters will go to the polls this November, and – in the first wide-spread election since Change swept the nation – identify where the citizenry’s beliefs lie.

Jason Furman and Austan Goolsbee, two top economists for the Obama campaign, recently wrote an opinion-editorial defending Obama’s increasingly frightening tax plan. The piece aims to proclaim the virtues of doling bread and circuses to the masses, and to justify one of the largest tax increases in American history. Obviously, this deserves some examination since [...]

Here’s the latest gem from Obama: a second mega-billion economic stimulus, financed by punitive taxes. The “emergency measure” would send individuals and families $500 and $1000, respectively. This is the epitome of political pandering, but is cheered on by the clueless media and Obama’s mindless myrmidons.
The Keynesian logic behind these rebates is that returning tax [...]

Theoretically, imposing high taxes on the rich is a handy way to acquire additional tax revenue with minimal political fallout. As a small minority assailed by class warfare and wealth envy, few object to steepening our progressive taxes. Apparently, the repugnance of voting over what to do with a minority’s property- two wolves and a [...]