Weekly Wrap-up: Senate Dems Pass Higher Taxes -- Day Lee Briefing 07/27/12

Jul 27, 2012

This week, the Senate Democrats voted to raise taxes even as a steady stream of worsening economic data kept pouring in. The Richmond Fed survey plummeted, signaling major weakness in the region. The second quarter’s annualized GDP growth came in at a “stall speed” level of 1.5%. A significant number of economists are warning that we are on the verge of, or even already in, another recession. Americans are more than halfway through our third straight “Recovery Summer”, and we’re still waiting for a real recovery.

It’s clear that President Obama’s policies aren’t working. Yet it is in this stagnant economic environment that his party wants to take even more from the private sector. The plan passed by Senate Democrats even included a new death tax that would have disproportionately damaged the family farms and ranches that are currently in the middle of fighting the worst nationwide drought since the Dust Bowl.

Unemployment remains above 8%, a record number of Americans are on food stamps, and a “recovery” has never been this anemic. Is now the time for the government to deal yet another blow to the economy?

Below are some of the week’s articles on this subject:

Sickly second-quarter GDP report puts U.S. economic recovery — and Obama’s reelection — in jeopardy

The U.S. economy is not doing fine.

Morning Bell: Senate Votes to Raise Taxes on Small Businesses

Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the tax hike.

 

And here are some of the week’s best tweets:

Lee Opening Statement on DOJ Antitrust AAG Nominee Hearing

Jul 26, 2012

Today we consider the nomination of William Baer to be the next Assistant Attorney General over the U.S. Department of Justice’s Antitrust Division. This is a position of enormous significance. Since its establishment nearly 80 years ago, the Antitrust Division, together with the Federal Trade Commission, has been tasked with the enforcement of our nation’s antitrust laws.

Middle Class Targeted with Premium Increase by Obamacare -- Day Lee Briefing 7/26/2012

Jul 26, 2012

Candidate Obama repeatedly promised premiums would be impacted by about $2,500 per family in his proposal – a development CBO has now confirmed. The only problem is that candidate Obama promised premiums would go DOWN $2,500 – but under the law President Obama signed, premiums will go UP by nearly the same amount.

Heading Off the Fiscal Cliff -- Day Lee Briefing 7/25/2012

Jul 25, 2012

Today’s Agenda

Today, Senator Lee will meet with representatives of Dixie State College. He will also be a guest on KSL’s Doug Wright Show at 12:00 PM EDT (10:00 AM MDT), attend a prayer breakfast, and host a Jell-O bar for office visitors at 3:30 PM EDT (1:30 MDT).

 

From the Senator’s Desk

Senator Lee’s op-ed, published by the Daily Caller:

Last week, Democrats insisted that Congress raise taxes on the American people. So committed are they to the cause that one top Democrat said they would actually allow the country to drive off the so-called “fiscal cliff” if it gave them the leverage they needed to get their way.

Mind you, they’re not demanding comprehensive tax reform. They haven’t insisted on overhauling the tax code or proposed major revisions that simplify the system so Americans can understand and file their own taxes.

Instead, Democrats are demanding Republicans join them in a plan that divides Americans by income and pits them against one another.

The Democrats are trying to enflame the basest of human emotions to create division amongst the country and then use this division for short-term political gain. This divisive rhetoric is a far cry from the “hope and change” promised four years ago, and exposes the desperation many on the left feel as the electorate realizes Democrats are out of ideas.

Aside from the fact that this call for higher taxes is politically motivated, there are plenty of good reasons to oppose the Democrats’ tax hike. The proposal does not solve the problem of out-of-control deficits and debt and will do significant damage to the American economy.

Read the full article: http://dailycaller.com/2012/07/24/americans-cant-afford-democrats-tax-increases/#ixzz21YyCQWGJ

 

On Twitter

Around the Water Cooler

Fear prompts gun sales, panic after Colo. Massacre

Firearms sales are surging in the wake of the Colorado movie massacre as buyers express fears about both personal safety and lawmakers who are using the shooting to seek new weapons restrictions.

 

New home sales post biggest drop in over one year

New single-family home sales in June fell by the most in more than a year and prices resumed their downward trend, suggesting a setback for the budding housing market recovery.

 

Looking Ahead

Tomorrow, Senator Lee will meet with representatives of Boys & Girls State. He will also attend a hearing held by the Foreign Relations Committee and a hearing held by the Judiciary Committee.

Recent Settlement over Bank Interchange Fees Demonstrates Adequacy of Existing Antitrust Laws to Remedy Alleged Anticompetitive Behavior

Jul 25, 2012

WASHINGTON, DC – Today, Senator Lee made the following statement regarding the recent settlement of an antitrust dispute between a group of retailers and credit card companies.
 
Consumers benefit when free market forces are allowed to determine prices.  As a result, lawmakers shouldn't interfere with those competitive forces.  Existing antitrust remedies are generally sufficient to address particular instances of anticompetitive conduct and restore competitive balance.  I believe the government ought not be in the business of picking winners and losers in the marketplace, especially since legislation addressing specific allegations of anticompetitive behavior can result in broad and unintended negative consequences.
 
These principles apply to the market for credit cards, including the market for the interchange fees that retailers pay credit card companies and banks for the use of those cards.  Last week’s settlement agreement between Visa and MasterCard on the one hand, and retailers on the other, demonstrates the adequacy of existing antitrust law to remedy alleged anticompetitive behavior.  This settlement was negotiated in an effort to restore competitive market balance and will allow credit card companies and retailers to get back to work serving consumers.

Americans can’t afford Democrats’ tax increases

Jul 24, 2012

Last week, Democrats insisted that Congress raise taxes on the American people. So committed are they to the cause that one top Democrat said they would actually allow the country to drive off the so-called “fiscal cliff” if it gave them the leverage they needed to get their way.

The Hamburgler -- Day Lee Briefing 7/24/2012

Jul 24, 2012

The Affordable Care Act could cost McDonald’s and its franchisees more than $400 million a year in additional health-care expenses, Chief Financial Officer Peter Bensen said on Monday.

Utahns in the Olympics -- Day Lee Briefing 7/23/2012

Jul 23, 2012

Today’s Agenda

Today, Senator Lee flies back to Washington.

 

From the Senator’s Desk

 

On Twitter

Around the Water Cooler

Europe fear surges; Dow falls almost 240

Fear over European debt surged Monday and drove stocks sharply lower around the world. The Dow Jones industrial average plunged almost 240 points in early trading.

 

Earnings show recession may be ‘fast approaching’

While this quarter's earnings reports have crossed a substantially lowered profit bar, future expectations through the year indicate a recession could be on the way.

 

Looking Ahead

Tomorrow, Senator Lee will meet with representatives of Instructure, the Utah Farm Bureau Federation, and the Citizens Climate Lobby.

Lee Introduces Bill to Address Wildfires

Jul 20, 2012

Today, Senator Mike Lee introduced legislation that would protect communities near federal lands that are at risk of catastrophic wildfire destruction. The bill would expedite projects to reduce fuel loads on certain lands owned by the federal government through livestock grazing and timber management plans. It reduces regulatory burdens on these projects while still allowing for reasonable public review and environmental analysis.

Weekly Wrap-up: "You Didn't Build That" -- Day Lee Briefing 07/20/12

Jul 20, 2012

This week, the country reacted to President Obama’s recent statement, “If you’ve got a business, you didn’t build that. Somebody else made that happen.”

The response from both business owners and non-business owners has been powerful and straightforward: Americans do not agree with the president, and for good reason. Entrepreneurs take great personal financial risk when starting new businesses, and put in countless hours making them succeed. To say that all of that risk was taken and all of that work was done by “someone else” is to insult the business leaders who have put their lives into their companies. 

Below are some of the week’s best articles reacting to President Obama’s statement: 

Did the state make you great?

And who might that somebody else be? Government, says Obama. It built the roads you drive on. It provided the teacher who inspired you. It “created the Internet.” It represents the embodiment of “we’re in this together” social solidarity that, in Obama’s view, is the essential origin of individual and national achievement.

Paul Ryan rips Obama’s comment 

It was Rep. Paul Ryan’s wife, Janna, who first saw — via Twitter — President Obama’s recent comments about American entrepreneurs, that “if you’ve got a business — you didn’t build that. Somebody else made that happen.” 

John Kass: Who else, Mr. President?

When President Barack Obama hauled off and slapped American small-business owners in the mouth the other day, I wanted to dream of my father. But I didn't have to close my eyes to see my dad. I could do it with my eyes open.

 

And here are some of the week’s best tweets about the subject: