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Category Archives: Taxes
Shared Sacrifice in Romney’s World
The stadium may have been empty but the speech certainly wasn’t. During Mitt Romney’s speech in Detroit yesterday, he laid out his bold, new economic policy. Massive tax cuts for the top bracket paid for by cutting spending on programs … Continue reading
Posted in economy, Politics, Romney, Taxes
Tagged cuts, Detroit, Medicaid, Mitt Romney, speech
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“A Colossal Political Failure”
Sam Pizzigati at CAF: “This “debt crisis” in no way had to happen. No natural disaster, no tsunami, has suddenly pounded the United States out of fiscal balance. We have simply suffered a colossal political failure. Our powers that be, … Continue reading
Posted in budget, Deficit, economy, Politics, Taxes
Tagged austerity, CAF, Sam Pizzigati, taxes, top 1 percent
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Obama Hearts the “Gang of Six” Plan
President Obama was quick to endorse the latest deficit reduction plan, the one from the so-called “Gang of Six” released yesterday, calling it a “very significant step” and “broadly consistent with the approach he has advocated.” This without knowing the … Continue reading
Posted in budget, Congress, economy, health care, Medicaid, Medicare, Obama, Politics, Social Security, Taxes, Unemployment
Tagged Alternative Minimum Tax, CLASS Act, corporate tax cuts, deficit reduction, economic growth, Gang of Six, marginal tax rates, Medicaid, Medicare, Obama, overseas profits, Pentagon, Social Security, spending caps, supply side
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The More Things Change…
…the more they stay the same. FDR, 1936: “In 1776 the fight was for Democracy in Taxation. In 1936 there is still the fight. Mister Justice Oliver Wendell Holmes once said ‘taxes are the prices we pay for civilized society’. … Continue reading
Why Is This So Damn Difficult?
This is so simple it’s ridiculous. The three major causes of the dramatic increases in debt and deficit are: 1) The Bush, now Obama, tax cuts. 2) The wars in Iraq and Afghanistan. 3) The financial collapse caused by Wall … Continue reading
Posted in Afghanistan, budget, economy, Iraq, Medicare, Obama, Politics, Social Security, Taxes, Unemployment, Wall Street
Tagged $2.2 trillion, Afghanistan, American Society of Civil Engineers, Austan Goolsbee, Bush tax cuts, businesses, certainty, customers, debt, deficit, demand, financial transaction tax, free trade agreements, infrastructure, Iraq, jobs, Medicare, patent process, President Obama, Social Security, Wall Street
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The Deficit Reduction Dog and Pony Show, Cont’d
Further proof that the deficit reduction talk in DC is just a dog and pony show: “In a Wednesday news conference, the president especially pounded a depreciation provision for corporate jets, mentioning it six times. “I think it’s only fair … Continue reading
Posted in Deficit, economy, Obama, Politics, Taxes
Tagged Bush tax cuts, corporate jets, deficit, dog and pony show, hedge fund managers, president, press conference
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Obama Takes Tax Rate Increases Off the Table
From The Hill yesterday: “The White House, seeking an agreement to raise the nation’s $14.3 trillion debt ceiling by Aug. 2, on Monday said it would not insist that any deal include an end to former President George W. Bush’s … Continue reading
Forecast for the Obama “Compromise”: “Weak Growth, Little Decline in Unemployment”
Dean Baker writes at The Guardian: “The enthusiasm of the US business press for the compromise tax package worked out by President Obama and Republicans in Congress led to a mini-euphoria of upbeat economic projections for 2011. While the economy … Continue reading
Posted in budget, economy, Obama, Obama administration, Taxes, Unemployment
Tagged compromise, Dean Baker, GDP, guardian, Obama, stimulus, tax cuts, unemployment
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Deficit Peacocks, Debt Ceilings, and Indefinite Detention
In a January 20 article at the Center for American Progress, Michael Linden differentiated between those who are serious about addressing our fiscal problems–the deficit hawks–from those who posture and preen about it—the deficit peacocks. Here’s how he defines a … Continue reading
Posted in budget, Congress, Constitution, economy, financial regulation, health care, Obama, Obama administration, Politics, Taxes, Unemployment, war on terror
Tagged Center for American Progress, Continuing Resolution, deficit commission, deficit peacocks, executive order, Ezra Klein, financial regulation, Guantanamo, health care reform, indefinite detention, Mark Warner, Michael Linden, Obama administration, Saxby Chambliss, tax cut extension, unemployment benefits
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A “Good Deal” For Who?
Now that President Obama’s “good deal” has been signed, sealed, and delivered thanks to the warm and fuzzy “spirit of compromise” floating around D.C. this holiday season, let’s take a look at who got goodies in their Christmas stocking and … Continue reading
Posted in budget, Congress, economy, Obama, Politics, Taxes, Unemployment
Tagged 99ers, compromise, DADT, Dave Dayen, debt ceiling limit, Firedoglake, good deal, government funding, hostage, Huffington Post, letter, Lucy and the football, omnibus spending bill, President Obama, Reid, Senate Republicans, START, TANF, tax cuts, working poor
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