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Paul Ryan Votes With Pelosi.

Republican Congressman Paul Ryan voted with Nancy Pelosi and the Democrats to kick the fiscal can one more time. He has shown his true colors. For all his rhetoric and charts in 2012 on the dangers of federal debt, he buckled under pressure. He was the Great White Hope for Tea Party voters last November. [...]

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Don’t Spend That Tax Refund. Pony Up More for Next Year.

Welcome to the AMT: the alternative minimum tax. The AMT will drop down in 2013 to people who make $65,000 a year or more. It presently hits only people making over $400,000. Americans have not budgeted for this. Here are other things they have not budgeted for. No more deduction for state and local sales [...]

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Spending Cuts? Surely, You Jest.

Quick. How much money will be cut from 2012′s level of federal spending in 2013 if there is no agreement to repeal the Budget Control Act of 2011? Give a ball park estimate. If you answered “none,” you’ve got it right. The so-called sequestration is not a reduction in spending from today’s level. It is [...]

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Myth: Higher Taxes Reduce Consumer Spending

There is fear that the fiscal cliff will lead to spending cuts by the government. This will reduce consumer spending, we are told. But will it? Why? There will be no spending cuts. There will merely be a slight reduction in the increase of government spending. We are told that higher taxes will also reduce [...]

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Boehner Eats Another Mud Sandwich

It was great to see. House Speaker John Boehner had to eat another mud sandwich yesterday. The man who sold out the Republican Party four years ago by leading the charge to vote for TARP has suffered a major personal defeat. The anti-tax conservatives revolted. They would not vote for his “tax the super-rich” bill. [...]

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Don’t End the Charitable Deduction!

This article was written by one of my GaryNorth.com subscribers. It nails the issue, and it nails the Cato Institute’s Dr. Mitchell, who systematically ignores the obvious. In the past 15 years, I have made a lot of charitable contributions, with the total recently crossing the line to eight figures. When I retired six years [...]

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Tea Party 2 Will Dwarf Tea Party 1 — Norquist

Grover Norquist, the much-hated guru of lower taxes, has said we are not going to see a budget deal this year. I have said the same thing. This is good news for the Tea Party, Norquist says. The outrage at higher taxes that will hit the middle class next year will drive people into the [...]

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