WebCPA reports that President Obama used his weekly address to say it was necessary to raise taxes on the wealthy to help close the budget deficit. Obama pointed out that Democrats and Republicans have already identified more than $1 trillion in spending cuts. But he added that it was necessary to also look at every [...]
Tags: Legislative Watch · Tax Policy
Now that the Democrats have finished their cynical dog and pony show aimed at shaming Republicans for their view that taxes should not be raised on anyone during a recession, we appear to be on the verge of compromise. WebCPA has the story: Republican leaders appear to be ready to agree to extend unemployment benefits in return for [...]
Tags: Legislative Watch · News · Politics of Taxes · Tax Policy
Elections have consequences. Reuters reports that President Obama, on the heels of the Republican takeover of the House, has expressed a willingness to compromise on the extension of the Bush tax cuts: President Barack Obama gave his clearest signal yet on Saturday of a possible post-election compromise with resurgent Republicans that could prevent tax rates from [...]
Tags: Politics of Taxes · Tax Policy · The Economy
Howard Gleckman of Tax Vox lists the options Congress and the President have regarding the Bush tax cuts in The Lame Duck Congress and the Fate of the Bush Tax Cuts: So what will happen? Here are the options: Adopt Obama’s tax hike on high earners. It is dead. Even the President now says he is [...]
Tags: Legislative Watch · Tax Policy
Howard Gleckman has written an interesting blog post about why so many Americans are unaware that President Obama has signed tax cuts into law benefiting approximately 97% of American households: Michael Cooper over at The New York Times stopped off at the Pig Pickin and Politickin rally in North Carolina the other day to ask folks about the Obama tax cuts. [...]
Tags: Politics of Taxes · Tax Policy
There once was a chap from Hawaii Who said he wouldn’t tax high ye. He spent like a drunk, The bottom line shrunk, Now he taxes ye tan and ye Pepsi Bookmark & Share:
Anyone who reads this blog knows that I find it repugnant that the government continues to spend the taxpayers’ money without compunction while demanding that America’s most productive citizens foot the bill in ever-increasing proportions. Now, non-partisan think tanks the Urban Institute and the Tax Policy Center say that tax rates on the wealthiest Americans would have [...]
Tags: Politics of Taxes · Tax Policy
