Economy & Budget

Many of America's Cold War weapons are in the hands of one of its most obscure government agencies. It’s called the National Nuclear Security Administration, and it was the subject of a senate budget hearing this week. The agency’s obscurity to most taxpayers is exceeded only by its astonishing failure to acknowledge political and fiscal reality.

Two decades after the Cold War, the U.S. is reducing the number and the role of its nuclear weapons, and is committed to providing international leadership on nuclear nonproliferation and disarmament. Meanwhile, the federal budget is extremely tight; cuts are being proposed in all manner of government programs, including, unwisely, Social Security, Medicare and veterans’ benefits.

In classic Beltway fashion, the government has introduced a bill to pick winners and losers in the marketplace with a name implying the exact opposite. The Marketplace Fairness Act, introduced by Senators Michael Enzi (R–Wyo.), Dick Durbin (D–Ill.) and Lamar Alexander (R–Tenn.), would force online stores to collect sales taxes on behalf of other states, regardless of the web company’s physical location.
 
Under current law, states can only collect taxes from businesses that have a physical presence in the state. Buyers are supposed to track their own purchases and pay a “use tax” to their state at the end of the year. However, states rarely enforce payment of the tax, since most buyers don’t even know about this requirement.

As a life member of the Military Officers Association (MOAA), I am chagrined at the efforts of its leaders to prevent the Congress from restoring benefits for active duty and retired military personnel to their rightful level.  In presenting incorrect and misleading information to Congress and the general public, these individuals are stooping to the level of many special interest groups and are not putting the interests of the country first. This unacceptable behavior can be demonstrated by analyzing the full page ads they took out in Capitol Hill newspapers, including The Hill, on April 17, 2003.

In their ad, MOAA’s leaders claim that the changes that Secretary Hagel has recommended that the Congress make to the current compensation system are unfair and unnecessary. They claim that they are unfair because they renege on promises made to service members and their families. This is not true.

The United States has the highest combined corporate tax rate in the industrialized world. Being Number 1 in this category is nothing to be proud of. But suggestions to make the U.S. more competitive in the global marketplace through corporate tax reform are as likely to evoke condemnations of corporate greed as they are to rally support. It's a climate that sparks acrimony and obfuscation instead of a productive discussion.

In March, both the House and Senate passed budget plans. Now, President Obama has released his budget. The Congressional Budget Office and Office of Management and Budget will be scrutinizing each proposed new revenue increase, every proposed loophole and all program dollars snipped. The public is being told it must choose between Meals on Wheels for grandma or Head Start for toddlers down the street.
 
In a situation like this, wouldn’t it be great to be able to see just how each of the dueling budget proposals will affect spending for programs you actually care about? Wouldn’t you like to go to a website and see the impact of proposed cuts in your community?
 
We would.

At a time when the American people are searching for a responsible federal budget outlining pro-growth policy initiatives that Congress could enact with bipartisan support, President Obama decided to go in a different direction. Ten weeks late, the president’s budget reflects his belief in a bigger government and a citizenry dependent on it.

While most of us may not give much thought to chemistry once we have left the high school science lab, advances in the chemical industry are behind many of the new products and innovations that improve our quality of life and boost America’s economy. In fact, chemicals account for twelve percent of U.S. exports and represent the largest exporting industry in the country. Undoubtedly, there is a significant role for the government to regulate these chemicals and keep us safe; however, when the process is not open, transparent, and done in accordance with the rules, Americans lose more than just the next great product – they lose their jobs.

The horrific bombing that killed three innocents and ripped apart the lives of more than 170 people still haunted our nation this week, as a manhunt locked down Boston. A crime spree by the suspects left a college security officer dead and some 20 police officers wounded. The terrorist attack at the Boston Marathon will dominate our thoughts and prayers for days to come as events continue to unfold.

This year marks the 100th anniversary of the modern income tax, which was established through the 16th Amendment to the Constitution. Over the years, our tax code has become bloated with loopholes, regulations and exemptions and now contains almost four million words. According to the Laffer Center, it costs up to $431 billion a year simply to comply with and administer our complicated tax system. Now is the time for tax reform that makes the tax code simpler and fairer, and the majority of Americans agree.

Today, the Senate Committee on Aging is holding a hearing on the National Alzheimer’s Plan. The efforts outlined in the plan, as well as the research work shepherded by biopharmaceutical research companies, can only move forward if we have a consistent and comprehensive set of patient-centric public policies.