Taxes

In Part I (at NewsBusters; at BizzyBlog) of my coverage of Martin Crutsinger's Associated Press report about Uncle Sam's Monthly Treasury Statement and the Obama administration's deficit projections, I noted that the government "miraculously" shrunk the deficit through March, the first six months of its fiscal year, by $175 billion, by employing an "accounting change." Even though this "…

Remember back in March when Congress had the brilliant idea to retroactively tax bonuses paid out by bailed out insurer American International Group (AIG)? The House voted 328 to 93 for the 90-percent tax on the $165 million in bonuses, but it later died in the Senate. Steve Moore, a member of The Wall Street Journal's editorial board, explained on CNBC's May 13 "Street Signs" that the punitive…

Just two months after the Congress and the White House collaborated to pass a $787-billion stimulus bill into law, its proponents are hailing it as a victory and one network has played along. The May 11 broadcast of ABC's "World News with Charles Gibson" cited a report from the President's Council of Economic Advisors claiming the stimulus would "save or create"1.5 million jobs by the end of…

For whatever reason, CNBC keeps lining up challengers to take on its Chicago Mercantile Exchange floor reporter Rick Santelli over his self-reliance, pro-taxpayer persona - whether it's Steve Liesman, Arianna Huffington or this time, Keith Boykin - editor of The Daily Voice, a CNBC contributor and a BET TV host. ON CNBC's May 7 "The Call," Santelli took on Boykin in the program's "The Call of…

Two days after the death of G.O.P. icon Jack Kemp, Newsweek Senior Editor Michael Hirsh posted a classless obituary on Monday, "The Dangers of Amateurism," calling the football player, politician, and self-taught economist Kemp an "amateur econo-cultist."One does not want to be disrespectful of the dead, and Jack Kemp was an admirable man in many ways. If the Republican Party had only followed…

On Monday, the Obama administration announced a plan to cut down on tax evasion by companies employing overseas workers, and with seeming disregard to the obvious hypocrisy, let Treasury Secretary Timothy Geithner -- who has tax problems of his own! -- introduce the President to provide the details.I kid you not! When media outlets report this announcement and the proposed reforms to the tax code…

The Associated Press's obituary on Jack Kemp continued two troubling trends found in recent AP death notices.In July of last year, covering Tony Snow's passing (saved here; covered at NewsBusters here), AP reporters found seemingly everything negative they could think of to write about the former White House press secretary and 2008 Media Research Center Buckley Award winner (examples -- "good…

Somebody needs to 'fess up. Who put truth serum in Calvin Woodward's coffee this morning?Whoever it is, they're in a heap of trouble, as Woodward produced a fact-checking critique of Barack Obama that is so good you'd swear most of it was ghostwritten by a conservative talk host.It will be interesting to see how much distribution it gets. I would suggest not counting on too much, but being open…

The Associated Press's Jeannine Aversa, who became infamous last year for her stories of "vanishing jobs" that weren't, sounded hopeful early this morning before the release by Uncle Sam's Bureau of Economic Analysis (BEA) of its first-quarter report on Gross Domestic Product (GDP) growth:Economy's free-fall probably eased in 1QThe recession's grip on the country may be letting up a bit.The…

It's a response that might incite laughter, as it did from conservative pundit Monica Crowley and MSNBC paleocon talker Pat Buchanan. According to Newsweek's Eleanor Clift, the current problems facing the country and President Barack Obama are due to capitalism. Clift, appearing on the syndicated April 26 "The McLaughlin Group" gave Obama high marks for his first hundred days and said…

If CNBC on-air talent has really had their hands tied by General Electric and NBC management on criticizing the current administration's economic policy, you couldn't tell it from watching Rick Santelli and Larry Kudlow.  On CNBC's April 24 "The Call," Santelli expressed his frustration with an overreaction by the government to solve the financial crisis when Kudlow asked him about the expansion…

Almost a year ago, I was posting on what I called the "Supply-Side Stunner" (at NewsBusters; at BizzyBlog).In April 2008, the US Treasury collected an all-time record $407.3 billion ($403.75 billion after subtracting the first $3.35 billion wave of stimulus checks, which really should have been treated as outlays, that went out just before month-end). It was an indication that, as I said at the…

Ladies and Gentlemen, The Lamestream Media The media coverage of the more than 800 Taxed Enough Already (TEA) Party protests that took place in all fifty states on April 15 ranged from disdainful dismissal of their nature, significance and import, to outright hostility towards the events and individual participants, to sexual innuendo-based full-on ridicule…