Articles by Phil Kerpen

Back to Plan A

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There is not a majority in the House of Representatives to support a tax plan that would raise taxes on any taxpayers – not even the much-maligned “millionaires and billionaires.” But that does not mean the House has acquiesced to the automatic tax hikes on every taxpayer slated for January 1. In stark contrast to the failure of “Plan B,” the House already succeeded in passing its “Plan A” back in August: H.R. 8. That bill would extend all current tax rates for one year, while committing to comprehensive tax reform in 2013. It passed the House on a rock solid 256-171 vote, with 19 Democrats joining 237 Republicans.

Read the rest at American Commitment.


Obama Out-Taxes Clinton

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President Obama likes his Clinton nostalgia — he has told the American people his tax increases are a return to the policies of the booming Nineties. It is ironic, therefore, that Obama insists on actually reversing one of the most critical economic successes from the Clinton years: the capital-gains tax cut. Before Clinton signed the 1997 budget deal, the capital-gains rate was 28 percent, and with Clinton’s approval of the cut it fell to 20 percent; Obama now insists on raising it to 23.8 percent, undoing not just Bush’s capital-gains-tax cut but almost half of Clinton’s, too. Such a move would undermine the fragile economic recovery while being unlikely to raise any federal revenue.

Read the rest at National Review Online.


Our politicians are behaving like addicts

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Washington conventional wisdom has it exactly backwards; the modest spending cuts are seen as a disaster, and tax hikes as a cure-all for our fiscal problems. The debate is now more about whose taxes should be raised by how much and less about any spending cuts at all.

This is the behavior of addicts, and spendaholism is rampant in both parties.

Read the rest at Fox News Opinion.




Googling Obama's Reelection

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President Obama's reelection was a triumph of Big Data, technological innovation, and precision targeting over the usual gravity of an incumbent president with a record of economic failure. This was facilitated by largest data trove in the world, Google, lending talent, expertise, and quite possibly data to the cause. Now Google CEO Eric Schmidt is being rumored as a potential Commerce Secretary or even Treasury Secretary — the top economic policy position — in Obama's second term. That's probably far-fetched, but the close relationship between the administration and Google deserves scrutiny.

Read the rest at American Commitment.


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