President's Budget Carries Outsized Economic and Political Risks

On April 10, President Obama released his proposed budget for the 2014 budget year. Unlike in the past, this year's budget came very late, after both the House and Senate had passed their respective budget plans. The president's plan is being billed by some as a compromise between the House and Senate.

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The Truth About Corporate Tax Rates

The tax rate is 35%. Corporations complain it's too high. But how much are they really paying? From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax...

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How Do Giant Corporations Get Away with "Legal" Tax Cheating?

 

See how multinational corporations lobby to write their own tax laws. From We're Not Broke, the story of U.S. corporations dodging billions of dollars in income tax, and how seven fed-up Americans take their frustration to the streets ... and vow to make the corporations pay their fair share.

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House Budget Plans Do Not Reflect Americans' Views on Public Investments

Sequestration's automatic cuts to federal spending are beginning to sting in communities across the country, and two of the four major congressional budget plans put forth this year are at odds with public opinion on specific areas of public investments, according to a Center for Effective Government analysis. As the Pew Research Center found in a pre-sequestration poll in February, most Americans say they support maintaining or increasing funding for specific federal programs, including education, Social Security, and Medicare.

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Battle Lines Await an (Unlikely) Budgetary "Grand Bargain"

With Congress and the Obama administration still divided over tax revenues, the possibility of a "grand bargain" on another major deficit reduction package seems increasingly small.

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Environmental Protections Threatened by Sequestration and Funding Cuts

Federal agencies have started feeling the impact of the across-the-board spending cuts, known as sequestration, that went into effect March 1. Plans to furlough employees and cut programs are underway at many of the agencies charged with issuing and enforcing public health and safety standards. For the U.S. Environmental Protection Agency (EPA), these additional funding cuts will further drain already decreasing resources and impair the agency's ability to protect our air, water, and health.

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Undoing Sequestration

Across-the-board federal spending cuts, called "sequestration," have begun. What can be done to undo this damaging budget policy? One of the primary barriers to fixing sequestration is that it is playing out much like the metaphor of a boiling frog. According to the metaphor, if a frog is placed in a pan of boiling water, it will quickly jump out. But if it is placed in a pan of water that is room temperature, and then only slowly heated to a boil, the frog will not notice the danger and will be slowly cooked to death.

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Sequestration Standoff

As March 1 approaches, across-the-board federal spending cuts, called sequestration, appear almost certain to occur. Republicans and Democrats are not negotiating to resolve the looming crisis. Neither seems sufficiently motivated to compromise.

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The Wall Street Sales Tax

As policymakers in Washington, DC continue to debate our nation's budget priorities, some of the options currently being considered are cuts in Social Security benefits, education and health programs, important investments in transportation infrastructure and health research, and anti-poverty programs, among many others.

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CBO Report Reveals Economic Damage Done by Deficit Reduction

A new report from the Congressional Budget Office (CBO), released Feb. 5, reveals that the federal budget deficit is now on track to drop below $1 trillion for the first time in several years. It is expected to drop further for several more years without any additional efforts at deficit reduction. However, this drop has been bought at a significant cost, including substantially reduced economic growth and higher unemployment.

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