Taxes

Sunday’s lead New York Times story by White House correspondent Jackie Calmes pushed the president’s new plan to raise taxes on “the wealthy.” The president, in what the Times seems to think is a bright idea, is calling his proposal the “Buffett rule,” after the billionaire who made waves with his complaint, printed in the Times, that uber-wealthy investors like him were not being taxed enough…

It will be interesting to see if a quote noted at the end of Jim Kuhnhenn's early Associated Press report about the President Obama's proposed tax increases (saved here for future reference, fair use and discussion purposes) makes the cut in later revisions. I'll bet not, because it sends both the arrogance and ignorance meters well into the red. This post will look at the first and third…

Even Chuck Todd thinks President Obama's new tax plan is a joke. When asked on MSNBC Monday if the White House believes "tax reform in the context of the Super Committee is a realistic goal," NBC's chief White House correspondent broke out laughing followed by the entire "Morning Joe" panel (video follows with transcript and commentary):

Hours before President Obama is to unveil a proposal to raise taxes on America's rich, one of former President Bill Clinton's key advisers has come out strongly against the current White House resident and this move. For this reason, Mark Penn's "Obama -- Don't Bring Back Class Warfare," published at the Huffington Post Sunday evening, is destined to raise a lot of eyebrows on both sides of…

Senate Minority Leader Mitch McConnell (R-Ky.) doesn't think the President's new "Buffett Rule" to create a higher tax rate for millionaires makes sense. Speaking on Sunday's "Meet the Press," McConnell said, "With regard to his tax rate, if [Warren Buffett's] feeling guilty about it, I think he should send in a check" (video follows with transcript and commentary):

CNN's American Morning brought on liberal academic Jeffrey Sachs to analyze Speaker Boehner's jobs plan Friday. Instead of hosting a conservative critic of President Obama the morning after he unveiled his jobs plan, the network actually interviewed the President's economic policy assistant. While Sachs went on-air and criticized the Republican plan as inherently flawed, Obama's director of…

Darlene Superville's Associated Press report earlier this evening on President Obama's visit to North Carolina ("Obama touts jobs bill benefits for small business") had an interesting final paragraph. Concerning Obama's openness to compromise on his "jobs plan" (otherwise known as "spend now, pay for with taxes later"), she wrote: "President Obama has made clear he'd sign a portion of the…

The August Monthly Treasury Statement released by the government today reveals that Uncle Sam ran a $134.2 billion deficit in August. That figure was $44.7 billion, or 48%, higher than the $90.5 billion deficit seen in August 2010. The year-over-year deficit increase occurred because outlays increased by 19% to over $303 billion, while receipts went up by 3% to $169 billion. Gee, that wasn't…

The headline to a New York Times editorial Saturday sounds like a conservative parody of liberal sanctimony: “The Enlightened Want to Be Taxed.” The content is no better, another boost of the paper's favorite multi-billionaire Warren “tax me more” Buffett, whose crusade was launched on the Times opinion page August 15, while offensively crediting the left-wing threat of property destruction as…

CBS's Early Show on Monday devoted two segments and a news brief to the Obama "jobs bill," but in none of the three stories did they allow a single Republican to speak. Correspondent Bill Plante filed a report that was almost all Obama soundbites -- and to make the sound of a sales job complete, it even included a clip of a TV ad from the Democratic National Committee to help push the $447…

Nice to see Rachel Maddow come around on this. Maddow has pontificated lately that tax cuts during wartime are not only ineffective but immoral -- which makes her inexplicable change of heart all the more puzzling. (video after page break)

Are messiahs allowed to fudge the truth? Washington Post's Fact Checker caught the President in a four Pinocchios whopper shockingly writing Wednesday, "Obama’s claim of having passed the 'biggest middle-class tax cut in history' is ridiculous":

America was in a post-stock market bubble bursting recession, had just suffered its worst mainland attack in its history, and New York Times columnist Tom Friedman believes ten years later all would have been made right if the President of the United States on September 12, 2001, had raised taxes. This is what Friedman, in his most recent blame all the troubles of the world on George W. Bush…

Yesterday, at organized labor's traditional Labor Day picnic at Cincinnati's Coney Island amusement park, Vice President Joe Biden gave the keynote address. His key lines, as reported by Carl Weiser at the Cincinnati Enquirer's Politics Extra blog (video is here at MRC-TV): "... this is a different kind of fight. This is a fight for the heart and soul of the labor movement. This is a fight for…