14 December 2011 Last updated at 04:19 GMT Republicans say raising taxes will hinder efforts to create jobs in the US economy The US House of Representatives has passed a bill to extend payroll tax cuts by tying the measure to a much-disputed oil pipeline project. The Republican-backed bill was voted in by 234-193, but [...]
Tag: Tax
December 14, 2011
December 4, 2011
November 16, 2011
Republicans Soften No-Tax Pledge to Trim US Deficit
In the U.S. Congress, Republican leaders say they would be willing to break a no-tax pledge as part of a comprehensive deal to reduce America’s massive federal deficit. Signs of possible compromise continue to emerge on Capitol Hill, where a deficit reduction super committee is working to meet a November 23 deadline to shave at [...]
September 30, 2011
Grover Norquist Solves Warren Buffett’s Tax Dilemma
You have to hand it to Grover Norquist: He knows how to make a point. Earlier this week the veteran antitax activist and leader of Americans for Tax Reform sent a letter to Warren Buffett to let him know he had figured out a way to solve the Omaha billionaire’s very public conundrum concerning the [...]
September 30, 2011
September 28, 2011
Texas refineries may get back $135M
September 27, 2011 by legitgov ShareThis AP: Texas refineries may get back $135M 27 Sep 2011 Three commissioners appointed by Gov. Rick Perry (R-Nutjob) may grant some of the nation’s largest refineries a tax refund of more than $135 million — money Texas’s cash-strapped schools and other local governments have been counting on to help [...]
September 24, 2011
What Elizabeth Warren Got Wrong in Her ‘Class Warfare’ Pushback
Conservatives have picked apart Massachusetts candidate Elizabeth Warren’s remarks, much cheered by progressives, about an “underlying social contract” that justifies higher taxes on the rich. They’ve noted, first and foremost, that Warren’s hypothetical factory owner already bears a disproportionate burden of funding the “social contract.” (Although, there is the riposte that the rich wouldn’t be [...]
September 23, 2011
Obama’s ‘Tax the Rich’ Class Warfare Is Bad Economics
The president has a new tax plan, a program designed to raise revenues for the beleaguered U.S. Treasury by raising taxes on what he says are the wealthiest Americans—who, he and his ideological allies contend, need to pay their fair share. At its core the plan—and the rhetoric that surrounds it—flows from the idea that [...]
September 21, 2011
Seniors Stand in Way of Both Entitlement and Tax Reform
It’s common knowledge that the politics of reforming our entitlement system are extremely difficult because seniors are susceptible to demagoguery from both parties. What I’ve failed to appreciate is that they are, potentially, a stumbling block to significant tax reform, too. [Vote: Do the Rich Pay Enough in Taxes?] To see what I mean, consider [...]
September 20, 2011
The Biggest Losers Under Obama’s Debt-Cutting Plan
Who will pay? When it comes to cutting the national debt, that’s what the whole fight is about. [See who would win under Obama's jobs plan.] Republicans want to reduce the nearly $15 trillion national debt entirely through spending cuts, which by definition would have the biggest impact on those who get the most federal [...]
September 19, 2011
July 1, 2011
$1B in Unwanted Coins Languish in Federal Reserve
The United States Federal Reserve’s coffers are bulging with $1 billion worth of unwanted $1 coins that cost $300 million to produce, and it could produce a billion more $1 coins by 2016, according to an investigation by National Public Radio (NPR). The Fed’s three attempts to popularize the use of $1 coins dates to [...]
June 29, 2011
June 28, 2011
Calif. Democrats Find Budget Deal
(Updates with Brown comment in third paragraph.) June 27 (Bloomberg) — California Governor Jerry Brown dropped his plan to extend expiring taxes to close a budget deficit and will back a new proposal based on $4 billion in higher-than-forecast revenue, additional spending cuts and a tax initiative requiring voter approval next year. The agreement between [...]