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Tim Carney: Our tax laws make IRS abuse inevitable
Timothy P. Carney
Published: Fri, May 10, 2013
Nobody should be surprised that President Obama’s Internal Revenue Service targeted Tea Party groups. This is clearly corrupt and an abuse of power, but it’s what we should expect, given the nature of tax laws. Tax-exempt status works on two levels: for the individual and for the group. In...
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Warren Buffett's latest bets on big government: Wind and dialysis
Timothy P. Carney
Published: Thu, May 9, 2013
Billionaire Obama fundraiser Warren Buffett has invested this Spring substantially in Davita, a leader in dialysis machines, and in a big Iowa wind farm. Both of these should be understood as investments in big government. Regarding Davita, see CNBC’s Javier David reporting in December:...
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The Obama revolving door: When Washington gets into business, business gets into Washington
Timothy P. Carney
Published: Thu, May 9, 2013
President Obama came to office promising to increase government’s involvement in Wall Street, and to slow the revolving door. These are mutually exclusive aims, and Obama has utterly failed on the latter score. When government increases its involvement in industry — more bailouts, more...
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Tim Carney: Big businesses and localities win online sales tax
Timothy P. Carney
Published: Wed, May 8, 2013
When do 21 Republican senators vote for higher taxes? Answer: When the biggest businesses and local politicians hire top K Street lobbyists to push for the tax-hike legislation. A bipartisan majority of senators on Monday passed the "Marketplace Fairness Act," which forces large and mid-sized...
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The Fed's quantitative easing mostly helps the well-heeled and well-connected
Timothy P. Carney
Published: Tue, May 7, 2013
The Federal Reserve’s policy of creating tons of new dollars by buying up financial assets is creating winners — and it’s not the middle class or the poor. Reuters explains that the Fed’s buying spree has driven up the price of subprime bonds, making some investors rich, while not...
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Republicans take a pass on Obama’s export subsidies
Timothy P. Carney
Published: Tue, May 7, 2013
President Obama’s “New Economic Patriotism” leans heavily on exports, and thus on subsidies from the Export-Import Bank of the United States. Obama uses Ex-Im to support industries he likes (solar), companies he likes (Siemens, GE), and industries hurt by sequestration (satellites)....
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Sex matters are political
Timothy P. Carney
Updated: Tue, May 7, 2013
Being gay and childless led economist John Maynard Keynes to push short-term-oriented economic policy, asserted British commentator Niall Ferguson over the weekend. After a Twitter spasm of ire, Ferguson apologized pretty thoroughly. For one thing, Keynes and his wife reportedly lost a child...
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Money and the 2012 elections
Timothy P. Carney
Updated: Mon, May 6, 2013
The presidential nominee who raised the most money won the 2012 election. Despite stiff odds in their favor, the party that raised the most in Senate races ended up gaining seats in 2012. So what does liberal Washington Post blogger Ezra Klein mean when he says, in the context of election...
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Tim Carney: Tea Party Troika rivals GOP leadership in Senate
Timothy P. Carney
Published: Sun, May 5, 2013
There are two power centers in the Senate Republican Conference. One is the official leadership under Minority Leader Mitch McConnell. The second is the Tea Party Troika of Ted Cruz, Mike Lee and Rand Paul. It's not that there are two Republican parties. Nor is there a chasm running along...
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Inside the late-term abortion industry
Timothy P. Carney
Published: Thu, May 2, 2013
“It’s not fully developed… it doesn’t even look like a baby yet.” That’s the falsehood caught on tape of an Arizona abortionist to a woman, 24 weeks pregnant, presumably so that she wouldn’t be tempted to back out of aborting the baby. Below is a picture of a newborn born...
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