QT Monster's Place

Internet Tax Moratorium Extension Passes Congress-

File this under, They Had Better Pass This Law. With no time to lose, the House and the Senate passed a law prohibiting the taxing of the internet for 7 years. The previous extension will expire Nov. 1st, which is today. President Bush will sign the bill.

vadkins
QT Monster Blog Home

Democrats = Tax Increases

The Wall Street Journal today, Rep. Charlie Rangel's new tax increase plan is explained. (And if Rangel's behind this, we know that it's really Hillary Clinton's tax increase plan.) Tax cuts increase revenue to the US treasury and reduce the deficit. Plus tax cuts result are good for the economy because tax cuts fuel economic growth. That's what President Bush's tax cuts have done.

But as surely as the sun rises and sets, after the Democrats won majorities in both the US House and Senate, the Democrats are looking to raise our taxes:

Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee, last week introduced an estimated $3.5 trillion tax increase that would raise the capital gains tax rate from to 19.6% from 15% and places a surtax of as much as 4.6% on people making more than $150,000 a year. Mr. Rangel applies it not to current taxable income but to adjusted gross income, thus phasing down itemized deductions such as charitable contributions, home mortgage deductions, and state and local tax deductions. Together with the end of the Bush tax cuts, Mr. Rangel's plan would increase the top income tax rate to 44% from 35% for individuals, small-business owners and farmers, who make up about three-fourths of taxpayers in the highest bracket.

Now there, is an economic nightmare. All you Republicans who sat out the 2006 elections-how stupid are you now??

vadkins
QT Monster Blog Home

California Outlaws Smoking in Cars with Minors

Smoke in a car with someone under 18 years of age, and pay up to a $100 fine. The new law was signed by Gov. Schwarzenegger yesterday. As Michelle Malkin notes, this is a problem for S-CHIP backers because the S-CHIP relies on money from a tobacco tax.

The nanny state is alive and well

vadkins
QT Monster Blog Home

All Major Republican Presidential Candidates Support Reaganomics

Based on this week's Republican presidential debate, Larry Kudlow says that all 4 of the major GOP candidates support the continuation of Ronald Reagan's "revolutionary policy transformation"-where tax cuts are concerned. But Kudlow wants to hear specifics, and asks Where's the beef?:

The Republican party needs to re-brand itself as the fiscal-disciplinarian party. GOP candidates must get specific about which departments and program clusters they’re going to curtail. The sooner the better. The burden is on their backs to reestablish credibility.

vadkins
QT Monster Blog Home