Taxes

Thanks to info "steveegg" at No Runny Eggs linked me to earlier today, I had to add the word "Annual" before "Cash Flow" at this post (at NewsBusters; at BizzyBlog) that originally appeared Wednesday. That's because the system is already running monthly deficits, and significant ones. Back in February, the system also ran a deficit. It was bad news, but because February is an unusual month…

Ed Morrissey at Hot Air had the catch of the day yesterday when he revealed, based on Congressional Budget Office internal projections distributed to Congress during the summer, that the Social Security system will spend more cash than it takes in during the government's next fiscal year ending September 30, 2010. Read about it there, or here, because you won't see the establishment media…

"It's the most explosive moment for the soda industry since the Diet Coke and Mentos experiment," CBS's Katie Couric quipped of a proposed federal soda tax in her September 18 Notebook video on CBSNews.com (embedded at right).While careful not to explicitly endorse a proposed one-cent-per-ounce tax on sugary drinks, Couric hinted that taxing sodas could help curb obesity, because, after all, "…

Timothy Egan, liberal New York Times reporter turned ultra-liberal nytimes.com "Outposts" blogger, titled his Wednesday night entry "Working Class Zero," a condescending, stereotypically liberal attack on blue-collar folks too ignorant and easily "distracted" to fight for their own interests, which Egan defined as government-controlled health care. Egan was vexed that many middle-class Americans…

Good Morning America co-host Diane Sawyer on Tuesday conducted a surprisingly tough interview with Tim Geithner, grilling the Treasury Secretary on tax increases, spending and highlighting the 9/12 rally in Washington D.C. Speaking of the American people, she asserted, "They don't see a possible way out without tax raises." After Geithner tried to squirm out of responding, Sawyer, who will leave…

Somebody really needs to find the Associated Press's Martin Crutsinger some OCD therapy. It seems that he has a not-magnificent obsession with the two major theaters of the War on Terror (yeah, I still call it that), and that he seemingly won't be able to conquer it without outside intervention. In his report on August's federal budget deficit, the AP reporter continued to cite the wars in Iraq…

About a year ago, then-Senator and Democratic nominee Barack Obama managed to seize control of the issue of taxes from the Republican Party by promising lower taxes for "95 percent of Americans." But today it's a drastically different situation. Obama's $787-billion stimulus has been passed into law and the administration is taking on higher deficits, which will only increase if a Democrat…

Thursday night, the Associated Press reported on the Baltimore ACORN sting carried out by James O'Keefe of Andrew Breitbart's new BigGovernment.com web site. A paragraph near the end of the report is virtually a de facto commercial for the controversial group. As to the sting itself, in case you missed it -- in two devastating videos originally posted here that you must see, O'Keefe and Hannah…

Is there a doctor within shouting distance of 30 Rockefeller Center?  Joe Klein, a guest on this morning’s edition of MSNBC’s “Morning Joe” is suffering from massive historical hallucinations.In fact, just make that general hallucinations.Among the litany of reality-bending ideas he presented were: The overheated rhetoric during the Bush years was much less disturbing than the overheated rhetoric…

A long lead editorial in Friday's New York Times, "Once and Future Taxes," called on Barack Obama to accept the inevitable and raise taxes to fight the $9 trillion budget deficit. Does this mean Times editors and reporters will now apologize to John McCain for claiming that Obama would only raise taxes on "the rich"? The Times made a full-throated call for a broad tax hike: So far, the…

ABC's World News, which has twice in the past few months rued how it's too hard to raise taxes in California, on Tuesday night used one homeowner's appreciation, for the firefighters battling the wild fires threatening his house near Los Angeles, to tout how “he would gladly pay more taxes.”  Reporting from Tujunga, Brian Rooney warned “California has burned through nearly two-thirds of its…

Amid all of the tributes to Ted Kennedy’s lengthy career of expanding the scope of government and its cost to taxpayers, CNN’s American Morning on Friday dug up a six-week old op-ed from the Tax Policy Center’s Len Burman warning that massive trillion-dollar deficits are a catastrophe that could lead to the end of the U.S. as a great power “or even a mediocre one.”With the on-screen graphic…

On CNN's American Morning today, business correspondent Christine Romans explained to anchor Kiran Chetry why there are new estimates showing the Federal deficit to be much worse than originally projected by the Obama administration:ROMANS:  Why? OK, this is really -- it's a complicated problem with a very simple analysis. It's how much money the government is taking in and how much money is…

Does the Associated Press's Martin Crutsinger moonlight as a Code Pink operative? There has to be something that explains what I'll call his Iraqnaphobia. Last month (at NewsBusters; at BizzyBlog), the AP reporter erroneously cited the cost of the wars in Iraq and Afghanistan as a "major factor" explaining why "the deficit has widened." In a quick review of the related June 2009 Monthly…