It is a good thing when taxes are reduced. But when refundable tax credits provide taxpayers with more money than they paid in, that’s a subsidy, not a tax cut.

A researcher at the International Monetary Fund expressed surprise at the greatly increased production of natural gas due to fracking and the law of supply and demand in a market economy. Those increases are reducing transportation costs and bringing lower prices to American consumers. 

 

 

 

 

It should be asked in the wake of the “successful” fiscal-cliff negotiations, “Why does the U.S. debt ceiling need to be raised again; why, during fiscal-cliff negotiations, didn’t Congress simply raise taxes to pay for all planned spending?”

Time and again, when taxes have been raised on the rich, the poor suffered the greatest detriment. And when taxes were lowered, the poor saw most of the benefit.

Panic-stricken bank depositors in Cyprus emptied ATM machines across the nation after the surprise announcement Saturday that, as part of an extremely controversial European Union and International Monetary Fund bailout deal, authorities would seize up to 10 percent of all savings deposited in Cypriot banks. Markets across Europe plunged as fears of contagion or even a large-scale bank run in the region plagued investors, with the single euro currency falling to multi-month lows and gold rising back above $1,600 following news of the $13 billion scheme.

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