Bush Tax Cuts
Fiscal Standoff?
Dec 18, 2012
With two weeks left before the end of the year, Congress and President Obama still appear far apart on a possible agreement to avert a pending "fiscal cliff" of tax increases and across-the-board spending cuts that will begin to phase in starting in January if no agreement is reached. Despite the hype, the sky will not fall if no agreement is reached by Jan. 1. The administration has significant authority to delay the effects of both the spending cuts and tax increases for several weeks if necessary. The administration has significant authority to delay the effects of both the spending cuts and tax increases for several weeks if necessary.
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Paul Ryan's Revenue Reforms Slash Taxes on the Rich
Mar 21, 2012 by Sam Rosen-Amy
Yesterday, Rep. Paul Ryan (R-WI) released his latest budget proposal, called "The Path to Prosperity," which serves as an update to his plan from last year. The proposal, which is the draft of the fiscal year (FY) 2013 House budget resolution, is supposed to be a fiscal framework for the House for the coming year. However, the congressman's tax plan is not a serious proposal for change.
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Small Biz Owners: Big Businesses, Millionaires Not Paying Fair Share
Feb 7, 2012 by Gary Therkildsen*
The American Sustainable Business Council, Main Street Alliance, and Small Business Majority released a new poll yesterday gauging small business owners’ opinions on taxes. On everything from the tax rates of the wealthy to corporations' exploitation of loopholes in the tax code, small business owners from across the nation say big businesses and millionaires aren’t paying their fair share.
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Budgets Are about Choices
Oct 31, 2011 by Gary Therkildsen*
Earlier this month, the city council of Topeka, KS, voted to decriminalize domestic violence in what has become a national-headline-grabbing budget dispute between the city and its county seat, Shawnee. Some are arguing that it's a sad spectacle when a couple of local governments within our nation play jurisdictional games with such a serious issue, but it's important to point out that the standoff didn't have to occur.
read in fullWaPo on the Drivers of Debt
Jun 15, 2011 by Gary Therkildsen*
Last week, I noted the Washington Post's flawed execution of journalistic "even-handedness" in its editorial on President Obama's draft executive order (EO) on contractor disclosure. It seems the paper is once again leveling partisan disparities with a snazzy new interactive graphic on the drivers of our nation's debt, titled, "Votes that pushed us into the red."
read in fullFirst OMB PAYGO Scorecard Puts Congress $64 Billion in the Black. Wait, What?
Jan 26, 2011 by Sam Rosen-Amy
Good news everyone! In 2010, according to a recent accounting by the Office of Management and Budget (OMB), the bills Congress passed reduced the deficit by $64 billion over the next ten years. Surprised? Thought this past year featured massive deficit-financed bills? That’s because the scorecard, which OMB keeps as part of statutory Pay-As-You-Go (PAYGO), does not include hundreds of billions in spending. Congress essentially told OMB to ignore a few key pieces of legislation, which, if included in the calculation, would bring the year’s cost to $820 billion over ten years.
read in fullAll Your Tax Cuts Are Belong to Us
Dec 13, 2010 by Craig Jennings
This chart of average tax cuts per income group under several plans to extend various provisions of the Bush tax cuts, via the Washington Post's Ezra Klein, made my jaw drop this afternoon.
read in full$3.3 Trillion Deficit Reduction Plan Set to Take Effect Jan. 1
Dec 2, 2010 by Craig Jennings
One deficit plan that's not getting much attention, and one which can easily pass a Republican-controlled Congress, is the one that the Republican-controlled Congress approved in 2001 (and further augmented in 2003): The 2001-2003 Bush tax cuts.
read in fullThe $80 Billion Middle Class Tax Hike
Nov 9, 2010 by Craig Jennings
In this week's Watcher, we ponder the fate of fiscal policy in the lame duck session of Congress set to commence on Nov. 15. Our article and indeed most of the punditry, analysis, news, and campaign rhetoric has all but completely ignored the fate of some $80 billion in tax breaks for the middle class.
What the American People Want
Nov 3, 2010 by Craig Jennings
After securing a Republican majority in the House of Representatives, the top two House Republicans -- Speaker of the House-to-be John Boehner (R-OH) and Marjority Leader-to-be Eric Cantor (R-VA) -- offered their governing philosophy: Listen to the American people.
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