Enough to make taxpayers cry, "no mas." Manny Pacquiao takes on his toughest opponent in his next fight: the Internal Revenue Service. Roy Jones, Evander Holyfield, and Floyd Mayweather all fought the most powerful three-letters in boxing and lost. Manny Pacquiao, a Filipino who doesn’t possess their home field disadvantage, has already ... MORE
Taking advantage of opportunity. Most people are not even surprised any more when they hear about
someone who came here from Korea or Vietnam with very little money, and
very little knowledge of English, who nevertheless persevered and rose
in American society. Nor are we surprised when their children excel in
school and go on to ... MORE
Those who still pay income taxes will pay even more. Under economic pressure, the Obama administration has pursued an increasingly vigorous class war strategy. At the same time people continue to be dropped from the income tax rolls. This likely expands government and increases what the rest of us will have to pay. Throughout its early ... MORE
Marketing legalized theft. President Obama often asserts that fairness requires everyone "to play by the same rules." He then calls for raising tax rates paid by "millionaires and billionaires," but no one else. Well, Mr. President, you cannot have it both ways. Logically, if we are to enjoy what the Constitution calls "equal protection of the law," ... MORE
Move from California saved Tiger $100 million. America's top-grossing golfer Phil Mickelson drove himself into a bunker on Jan. 20 when he said that federal and California state tax hikes had made him contemplate making "drastic changes" in his life—including, it was widely assumed, moving to a no-income-tax state such as Texas or Florida. ... MORE
Minimum wage creates more, not less, poverty. A new study concludes that increasing the minimum wage will lead to fewer jobs rather than less poverty. “The disconnect between the empirical evidence and the claims of wage
hike advocates continues to grow,” said Michael Saltsman, research
director at the Employment Policies Institute, which ... MORE
Daniel Halper on Obama's latest executive order. President Barack Obama issued an executive order to end the pay
freeze on federal employees, in effect giving some federal workers a
raise. One federal worker now to receive a pay increase is Vice
President Joe Biden. According to disclosure forms, Biden made a cool $225,521 last year. ... MORE
by Anthony Randazzo & Dean Stansel. The federal income tax code is riddled with loopholes, deductions, and credits designed to promote various social goals and benefit assorted groups of Americans. One of the largest of these is the mortgage interest deduction (MID), which allowed taxpayers to claim benefits of $82.7 billion in ... MORE
The rich are voting with their feet. California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget. Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now ... MORE
An Edsel of an economic idea. Democratic Party leaders, President Obama in particular, are forever telling the country that wealthy Americans are taxed at too low a rate and pay too little in taxes. The need to correct this seeming injustice is framed not simply in terms of fairness. Higher tax rates on the wealthy, we're told, would ... MORE
The definition of poor keeps expanding. The federal government now considers a family of four in New York City to be poor if its pre-tax income is below $37,900.Even with full medical coverage. The calculation helps explain why newly revised Census Bureau figures hike the number of poor Americans to 49 million as of last year, further widening ... MORE
by Walter Russell Mead. Many businesses anticipate that Obamacare will deal a blow to their
bottom line in the form of fines and penalties. Some are now planning to
evade the law’s fine for uninsured full-time employees by pushing
full-time employees to part-time status. The Wall Street Journal reports: Several restaurants, hotels and retailers ... MORE