As a follow-up to this, we have this: Here's what it means in real terms for the 5% of Americans whose household income exceeds $250,000 a year. Those families can currently save $350 in taxes for every $1,000 donated to charity; under Obama's plan, that amount would drop to $280 per $1,000 donation. "By doing …
Promoting a Compassionate Agenda vs. Making Fun of the Special Olympics
Barack Obama's comparison of his bowling game with the Special Olympics (which is unfair; there are people in the Special Olympics who can handily beat him) has gotten a lot of press. There are those, however who view this as a passing gaffe. But, as the French would remind us, "what fills the heart will …
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The Pagan Charles Grassley: From Victory at Sea to Defeat in Manhattan
He may not think of himself in this way, but... Iowa Sen. Charles Grassley suggested that AIG executives should take a Japanese approach toward accepting responsibility for the collapse of the insurance giant by resigning or killing themselves. The Republican lawmaker's harsh comments came during an interview with Cedar Rapids, Iowa, radio station WMT on …
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Tax Collection, Late Roman Style: “There began to be fewer men who paid taxes than there were who received wages…”
This, under the Roman Emperor Gelarius: But that which gave rise to public and universal calamity, was the tax imposed at once on each province and city. Surveyors having been spread abroad, and occupied in a general and severe scrutiny, horrible scenes were exhibited, like the outrages of victorious enemies, and the wretched state of …
Rewarding Incompetence: Not Only in the Private Sector
He's right, but... Rep. Barney Frank charged Monday that a decision by financially strapped insurance giant AIG to pay millions in executive bonuses amounts to "rewarding incompetence." Echoing outrage expressed on both sides of the political aisle in the wake of revelations that American International Group will pay roughly $165 million in bonuses, Frank said …
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What We Owe the Chinese: A Debt to Equity Conversion?
The Chinese are worried about the status of the enormous sum the U.S. owes them: China's premier expressed concern Friday about its massive holdings of Treasuries and other U.S. debt, appealing to Washington to safeguard their value, and said Beijing is ready to expand its stimulus if the economy worsens. Premier Wen Jiabao noted that …
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Those Difficult Americans Strike Again
We're at loggerheads with the rest of the G20 over economic recovery: A simmering row about the whole point of the G20 meeting on April 2 burst into the open when Larry Summers, chief economic adviser to President Obama, called on other countries to follow America's lead in pumping even more money into stimulus plans …
Liberal Charities: Avoiding Being Victims of Obama’s Taxes
They're screaming bloody murder these days: Among those shocked by President Obama's 2010 budget, the most surprising are the true-blue liberals who run most of America's nonprofits, universities and charities. How dare he limit tax deductions for charitable giving! They're afraid they'll get fewer donations, but they should be more concerned that Mr. Obama's policies …
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Go Ahead. Stuff the Money in the Mattress. Just Like the French Do.
I think our President is reading my blog: In a 35-minute conversation with The New York Times aboard Air Force One on Friday, Mr. Obama reviewed the challenges to his young administration. The president said he could not assure Americans the economy would begin growing again this year. But he pledged that he would “get …
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The Provincial Hillary Clinton
There's no other explanation for it: Hillary Clinton raised eyebrows on her first visit to Europe as secretary of state when she mispronounced her EU counterparts' names and claimed U.S. democracy was older than Europe's... A veteran politician, Clinton compared the complex European political environment to that of the two-party U.S. system, before adding: "I …
Positive Infinity 