Democrats Mean to Raise Middle Class Taxes in 2011


"House Majority Leader Steny Hoyer (D–MD) has already signaled the Democrats’ intention to hike middle-class taxes eventually. In the meantime, Democrats could easily prevent a tax hike for 2011 and would do so without delay if that was their intention. Instead, by delaying action until after the election, the Democrats have made it clear that they intend to sock America’s middle class with a mighty tax blow—but not in some future year. They intend to deliver the blow in 2011. They just don’t want to tell anyone yet."

Cost of Seizing Fannie and Freddie Surges for Taxpayers


"Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of the year. They owned 163,828 houses at the end of March, a virtual city with more houses than Seattle. The mortgage finance companies, created by Congress to help Americans buy homes, have become two of the nation’s largest landlords."

Pelosi’s Office Costs Taxpayers More Than 18k Monthly


"In the midst of her state’s dire financial crisis, House Speaker Nancy Pelosi has moved her district office to a new state-of-the-art building with an award-winning “green” design at quadruple the monthly rent of the old location."

Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case


"Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund. That surpasses the amount spent on rescues of American International Group Inc., General Motors Co. or Citigroup Inc., which have begun repaying their debts. "

A Taxpayer’s Guide to the Federal Budget

Congress Purposely Dragging its Feet on Death Tax


"Recent developments in Congress now make clear that Congressional leadership is willing to go through all of 2010 without a death tax in order to get what they have wanted all along – a death tax with a rate and exemption amount at their levels prior to the 2001 and 2003 tax cuts."

Congress loves your money


"Leased luxury vehicles, large group meals, TiVo and a digital camera are among items Michigan House members billed taxpayers for last year."

The Lessons of the GM Bankruptcy


"Today is the first anniversary of one of this country's less-than-crowning milestones: the bankruptcy of General Motors, once the largest and richest company in the country, and indeed the world."

Bachmann Blasts House Dems for Voting to Allow Another Federal Pay Raise

The shady ShoreBank bailout


"ShoreBank is a Windy City investment bank with all the right (or, rather, left) ties. Its stated progressive mission isn’t merely to make good lending decisions, but to engage in Barack Obama-esque social engineering to “create economic equity and a healthy environment.” The ShoreBank corporate slogan: “Let’s change the world.”

Taxing Like Europe


"Higher taxes mean less economic growth and lower living standards--so why does the U.S. want to adopt a European model?"

The Revenue Limits of Tax and Spend


"Whether rates are high or low, evidence shows our tax system won't collect more than 20% of GDP."

"The feds assume a relationship between the economy and tax revenue that is divorced from reality. Six decades of history have established one far-reaching fact that needs to be built into fiscal calculations: Increases in federal tax rates, particularly if targeted at the higher brackets, produce no additional revenue. For politicians this is truly an inconvenient truth."

Treasury takes $1.6 billion loss on Chrysler loan


"Treasury said Monday that Chrysler repaid $1.9 billion of a $4 billion loan, which was extended before the company filed for Chapter 11. The government hopes to get another $500 million from the company that emerged from bankruptcy, Chrysler Group LLC."