Taxes

Calling for tax cuts to stimulate the economy is just a call from the presidential election’s "silly season" and those who do (McCain) are "going to say anything to get elected" according to CNN financial analyst Gerri Willis. Appearing on July 21 edition of "The View,"Willis discussed many of the current economic troubles from high oil prices to the mortgage crisis. [audio available here]…

One of the favors the media routinely perform for liberal politicians is citing left-of-center think tanks as "non-partisan" entities, who just happen to have evidence proving the awfulness of conservative policies. A classic example occurred on the July 7 CBS Evening News, as reporter Chip Reid cited "the non-partisan Tax Policy Center" as showing how Barack Obama's "tax cuts" are superior to…

Remember the grief Dick Cheney received in late 2000, and then President Bush in early 2001, when they were accused of “talking down the economy”? We already know from history that the economy had already slipped into negative growth during the third quarter of 2000; so it's fair to say in hindsight that Cheney and Bush were actually observing reality. Specifically, Cheney's 2000 statement was…

The Associated Press's Jeannine Aversa "creatively" and selectively rounded figures presented in today's Monthly Treasury Statement from Uncle Sam. That Treasury report, released this afternoon, covered monthly and year-to-date receipts and spending in the federal government. By doing what she did, Aversa made sure we know that year-to-date receipts are down, but at the same time made Congress's…

A report on the economic policies of John McCain and Barack Obama by correspondent Chip Reid on Monday’s CBS "Evening News" suggested that Obama’s supposed middle class tax cut would be more beneficial for American families: "Obama's plan is to roll back the Bush tax cuts for the wealthy and use the savings for a middle-class tax cut...A recent study by the non-partisan Tax Policy Center says…

On Monday’s CBS "Early Show," co-host Harry Smith talked to John McCain supporter Carly Fiorina and Barack Obama supporter Senator Claire McCaskill about the respective economic plans of the presidential candidates: "Bear market blues. Wall Street returns from the holiday as gas prices set another new record. Can either candidate calm America's fears?" At one point, Smith asked Fiorina: "How do…

Rush Limbaugh's new deal with Clear Channel, as flashed by Drudge (also covered or addressed here and here at NewsBusters; here at the New York Times; and here in a very long New York Times magazine article), is north of $400 million for the next eight years.Good tax planning too: Maharushie will get his reported nine-figure signing bonus this year before a possible President Obama does his…

Here we go again. Just as with 2001-2003 coverage of Bush's tax cuts which gave the greatest percent cut to those in the lowest income tax bracket (going from 15 down to 10 percent, a 33 percent reduction), ABC's George Stephanopoulos on Sunday chose to undermine the fairness of John McCain's proposed tax plan (and illustrate the media hostility sure to greet McCain whenever he takes a…

Regretting that “few grownups are concerned about the $526 billion cost so far for the Iraq war without end” because “President Bush and his rich buddies have made sure most of the monetary burden will be borne by our children and grandchildren,” USA Today founder Al Neuharth, in his weekly column on Friday, recommended “a stiff income tax surcharge” to pay for the war. But Neuharth made clear…

In the past when Warren Buffett has spoken out the "super rich" needing to pay a higher tax rate, the media have hung on his every word. But, now that he has spoken out against a windfall profits tax on oil, will they notice? Buffett said he disapproved of the windfall profits taxes in an interview with CNBC's Becky Quick on "Power Lunch" on June 25. "I think it is very hard to have windfall…

If, as shown yesterday (at NewsBusters; at BizzyBlog), media reporters can't even get basic things like the fact that $1.74 x 3.5 doesn't equal anything close to $4 right, you would think that it's way too much to expect them to understand the difference between income and net worth. You would be correct. The coverage of last week's Social Security tax-increase proposal by Democrat Barack Obama…

As anyone aware of the concept of supply and demand could have foreseen, Americans are driving less now that gasoline prices have passed $4.00 per gallon. So on this morning’s Today show, NBC’s Tom Costello dutifully noted that Americans have driven 20 billion fewer miles so far this year, but then declared a “bad news” side effect of drivers buying less gasoline: “We use federal tax money that…

A liberal-leaning organization has produced a report on the 2008 presidential candidates’ tax plans and, accordingly, the Associated Press has jumped on it.In her June 17 article, AP’s Liz Sidoti used a recent study by the Tax Policy Center -- a project of the liberal-leaning Brookings Institution and Urban Institute -- to advance the notion that Obama’s tax policies favor the middle class while…