Morning Bell: Hiding Future Tax Hikes on Tax Day 2011

Curtis Dubay /

Today, April 15, is typically Tax Day. Taxpayers would usually be furiously figuring out how much they owe Uncle Sam right about now. In case you didn’t know it, taxpayers this year get a three-day reprieve because of a holiday in Washington, D.C., commemorating President Abraham Lincoln’s emancipation of slaves in the District.

No matter what day Tax Day falls on in coming years, we’ll all be paying considerably higher taxes unless Washington’s reforms its reckless spending ways immediately.┬áTo make matters worse, Washington has been able to hide this enormous potential tax hike through all the deficit spending it is doing now. (more…)