Forget the 'millionaire surtax.' The better way to tax millionaires is to broaden the tax base – and let all those Bush tax cuts expire.
In terms of tax policy, the president's budget has a few intriguing new provisions.
The Congressional Budget Office’s economic outlook is out, and it doesn't seem all that bad Except that the CBO baseline is a projection of current-law policies, which assume a lot of very optimistic things about Congress’s proclivity toward fiscally responsible behavior.
The CBO is forecasting a $1.1 trillion deficit in 2012, followed by several years of a much lower amount. But CBO officials know that's a fantasy, so it has prepared a more pessimistic outlook.
Raising the retirement age would shore up America's shaky finances while extending activity and satisfaction for many workers. But raising the retirement age isn't right for everyone.
Politicians on both extremes think voters want stubborness in the budget battle. They're wrong.