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Squad member Omar in primary spotlight as 5 states hold contests Tuesday

Connecticut, Minnesota, Vermont and Wisconsin hold primaries on Tuesday, with a Georgia holding a Republican primary runoff in the state’s 14th Congressional District.
2020/08/11 05:00

Peter Kirsanow says 'defund the police' movement will 'redound to the detriment' of left, Democrats

Democrats' push to "defund the police" is backfiring as protests spread into elite neighborhoods and produce more violence in U.S. cities, attorney and U.S. Commission on Civil Rights member Peter Kirsanow argued on Monday.
2020/08/11 00:08

Graham promises 'I'm going to find out' why FBI 'told the same lies' to lawmakers about Steele dossier in '18

The FBI under Director Christopher Wray's leadership deceived lawmakers on the Senate Intelligence Committee during a 2018 briefing on the Russia investigation, Senate Judiciary Committee Chairman Lindsey Graham told "Hannity" Monday, citing a document he obtained from the Department of Justice.
2020/08/10 23:48

Biden plans running mate announcement for middle of the week: report

Joe Biden’s presidential campaign is preparing to announce his running mate during the middle of this week after the presumptive Democratic nominee finished interviewing every finalist to run with him in November, the New York Times reported Monday.
2020/08/10 21:12

UN envoy Kelly Craft vows US pushing issue of human rights in China 'at every opportunity we have'

The United States is broaching the topic of human rights issues with China at the United Nations whenever it can, U.S. Ambassador to the U.N. Kelly Craft told "The Story" Monday night.
2020/08/10 20:53

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He will greatly expand government and raise taxes for most Americans.


Obama would uncap Social Security tax, which is currently capped at $102,000. This would have a dramatically negative effect on small business owners and those self-employed, and may literally drive thousands of American business out of business. Furthermore, Obama will increase the Social Security tax up to 12.4% which would increase the top marginal tax rate from 44.6% to a whopping 62.8%.

As Kimberly Strassel wrote in the Wall Street Journal: "Mr. Obama is hawking a tax policy that would take the nation back to the effective marginal tax rates of the Carter days. He wants to further tax income, payroll, capital gains, dividends and death. His philosophy is pure redistribution."

By simultaneously increasing payroll taxes and capital gains taxes, Obama would ensure a rush of small and mid-sized businesses off our shores and into the hands of welcoming foreign countries that would support the flourishing of same business and offer them much more favorable tax incentives. That loss of business in America would drastically increase the unemployment rate which would further drag down aggregate GDP.

Contrary to Obama's claims, Obama actually will raise aggregate taxes more on poor people than rich people. The following are conclusions of a study done by the non-partisan tax watchdog group, Americans for Tax Reform:

On earned income tax, Obama will only tax the rich slightly more than would McCain, with McCain's plan calling for a 35% top rate and Obama's calling for a 39.6% top rate. However, the lowest tax rate under the Obama plan will increase by 50% - from 10% to 15%; whereas McCain would keep it at its current 10%.

On Capital gains from the sale of stocks and real estate, McCain would keep the rate at 15% and Obama would raise it to 20%. This will take a disproportionate toll on the upper-middle class, which has most of its liquid assets in stocks and other securities.

On dividends, McCain would keep the current tax at 15% and Obama would increase it to a whopping 39.6%.

McCain would eliminate the marriage penalty for household incomes under $150,000; Obama would apply a full marriage penalty from dollar one.

On the death tax, McCain would make the first $5 million exempt, and anything above that would be taxed at a rate of 15%. Obama would only exempt the first $1 million, and the remainder would be subject to a whopping 55% tax rate.

Obama's tax plan would decimate small businesses. Whereas McCain would keep the self-employment maximum tax rate at 37.9%, Obama would drastically increase it to 54.9%!