A Huntington defense attorney says a possible trial lawyer tax break that has attracted the attention of 25 U.S. senators would make the federal government partners with plaintiffs attorneys…
“The tax break has an estimated worth of $1.6 billion for trial lawyers.” – West Virginia Record, 08/24/2010
Read the full story in the West Virginia Record by clicking here.
By ARTHUR LAFFER from the Wall Street Journal:
Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues. – President John F. Kennedy, Economic Report of the President, January 1963
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Obama knew when he was campaigning that his promise of no tax increases on anyone making under $250,000 was a calculated, blatant lie. He unveiled the first broken promise on taxes when he signed legislation to raise cigarette taxes. Of course, he had the political cover because it was a tax against an unpopular minority even though most smokers make less that $250,000.
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The Huntington Herald-Dispatch reported this week that Huntington Mayor Kim Wolfe is considering the implementation of a one percent occupation tax on individuals who work in the City of Huntington to fill holes in the lagging city budget.
As I said earlier this week, the politicians in Charleston continue to dawdle as the number of West Virginians who lost their job over the last year climbed to over 32,000 last month and continues to rise.
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Republican Delegate Bill Hamilton introduced legislation today that would raise taxes on alcohol to fund substance abuse treatment and prevention.
“We will be looking at wine and liquor, but you can’t put them all in the same bill because they’re different parts of the state code,” Hamilton said.
The latest bill would increase taxes by four cents per bottle or can. The other beer tax bill, reintroduced Feb. 1 from last year’s session, would add a penny to the price of each bottle.
Today, President Obama will greet 130 guests who are attending his “jobs summit” at the White House. The only problem is that not one job will be created at this glorified meeting.
Let’s be honest for a moment. This PR stunt is a sham. It will provide nice headlines for the nightly news networks and liberal newspapers, like the Charleston Gazette.
The White House knows this “jobs summit” is not real. It is simply a nice meeting of politically connected people which will provide some great photos and snippets for White House press releases.
Job creation is fundamentally a private-sector process and the private sector is experiencing a broad retreat in the wake of Obamanomics. The ideology of President Obama cannot fundamentally create the number of private sector jobs that are needed to help this economy rebound.
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Governor Joe Manchin
Governor Joe Manchin and West Virginia Democrats are quietly pushing a gas tax on the residence of West Virginia. The Governor’s proposal will stop a scheduled reduction in the gas tax in 2010 and completely remove a 5-cent reduction in the tax in 2013.
The West Virginia Legislature is considering legislation (HB 404 and SB 4004) which the Governor proposed to establish a floor on the portion of the gasoline tax which readjusts on a annual basis.
The Charleston Gazette explains the gas tax very well…
“The gas tax is a combination of a base rate of 20.5 cents a gallon and a rate equal to 5 percent of the average wholesale price of gasoline for the previous July-October.”
“That part of the gas tax currently is set at 11.7 cents a gallon. However, because of low gas prices this year, that tax rate is poised to adjust downward by about 3 cents a gallon on Jan. 1.”
“Under the proposed legislation, the adjustable portion of the gas tax could not drop below the current 11.7-cent a gallon level.”
The Wall Street Journal is calling Speaker Nancy Pelosi and House Democrat’s health care reform legislation the “worst bill ever.” The Speaker has apparently told Members that she is prepared to lose seats in 2010 if that’s what it takes to pass Obamacare.
Call Democrats Nick Rahall and Alan Mollohan today and tell them to VOTE NO on H.R. 3962
“The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.
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A great read from the Wall Street Journal:
The Wall Street Journal, Opinion, August 24, 2009 – Link.
The High Cost of Liberalism
Taxes too high? You ain’t seen nothing yet.By Peter Du Pont
Congress is in recess and many Americans are on vacation, but all that will end when Labor Day has passed and the House and Senate are back at work.
And that means the Europeanization of America will again be in full gear, from expanding government control and regulation of as many things as possible, to raising taxes, expanding the size of government, and reducing the choices individuals are allowed.
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In 1997, the late West Virginia Gov. Cecil Underwood tasked his Secretary of Tax and Revenue, Robin Capehart, with creating a Commission on Fair Taxation.
In July of 1999, this committee created a tax reform plan that was hailed as “one of the best.” 10 years later members of this same committee gathered Tuesday, July 21, 2009, to discuss their ideas on tax reform and on what needs to be done today to make West Virginia successful.
The West Virginia Examiner was on hand to chronicle the event. Click here to learn more about the event.
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The Public Policy Foundation of West Virginia is hosting a panel entitled “Real Tax Reform for West Virginia” in Charleston today from 10:00 a.m. to Noon.
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From the Wall Street Journal:
“House Democrats on Tuesday unveiled sweeping health-care legislation that would hit all but the smallest businesses with a penalty equal to 8% of payroll if they fail to provide health insurance to workers.
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