Topic: Tax Policy

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From Willie Horton to windsurfing: Five top political attack ads

Political attacks ads: love 'em or hate 'em, but they’re here to stay, and this election year stands to be a watershed moment in their use. Here's a look at what are considered to be some of the most memorable and effective attack ads utilized over the years.
Could 'fiscal cliff' push US into recession? Five questions answered.

The nonpartisan Congressional Budget Office (CBO) warned in a report Tuesday that if Congress does not deal with a raft of fiscal measures by Dec. 31, the US could enter another recession. So what is this fiscal cliff and what is Congress doing about it?
Briefing
Six 2012 races where the tea party counts

After playing kingmaker in the 2010 election cycle, the tea party movement is having a less prominent role in 2012. But its support or opposition could swing some key races and even determine whether Republicans win control of the Senate. Here are six US Senate contests where the tea party could make a difference.
Tax day: 8 top tax breaks for parents on tax deadline

As tax deadline looms, parents are looking for as many tax breaks as possible.
Briefing
Buffett rule: Five questions about Obama's plan answered

President Obama wants a proposed "Buffett rule" to make sure that millionaires pay at least a 30 percent federal tax rate. Here are five facts that shed light on the Buffett rule and the debate surrounding it.

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Robert Reich
How to avoid austerity but still fix the deficit

As Europe has shown us, austerity is bad for weak economies facing large budget deficits. But it can be avoided by getting growth and jobs back first, and only then tackling budget deficits.
Economist Mom
A rift over the GOP's tax pledge?

Over the past generation, the GOP's pledge to introduce no new taxes has become the essential conservative credential. But some Republicans are refusing to sign.
Tax VOX
How the debt limit delay will affect US fiscal policy

What if hitting the statutory debt limit does not happen until sometime in the first quarter of 2013? That is increasingly likely, say the folks who watch this sort of thing. And it would completely change the politics of the coming train wreck.
Robert Reich
Obama and Cory Booker: Fairness is essential to growth

Fairness isn’t inconsistent with growth; it’s essential to it. The only way the economy can grow and create more jobs is if prosperity is more widely shared.
What Congress has planned after Memorial Day

Congress will be racing to complete a number of priorities between Memorial Day and the August recess, all under the shadow of massive fiscal issues looming at year's end.
Federal Reserve official: If Congress dawdles, economy will fall 3 percent

Congress must sort out a raft of fiscal issues before Jan. 1, or it will cost the US economy dearly, said New York Federal Reserve President William Dudley.
From Willie Horton to windsurfing: Five top political attack ads

Political attacks ads: love 'em or hate 'em, but they’re here to stay, and this election year stands to be a watershed moment in their use. Here's a look at what are considered to be some of the most memorable and effective attack ads utilized over the years.
Tax VOX
A path forward on tax reform: 4 steps

Tax reform will be difficult, but with a four-step road map, it can be done.
Could 'fiscal cliff' push US into recession? Five questions answered.

The nonpartisan Congressional Budget Office (CBO) warned in a report Tuesday that if Congress does not deal with a raft of fiscal measures by Dec. 31, the US could enter another recession. So what is this fiscal cliff and what is Congress doing about it?
Decoder Wire
Is Congress broken? Startup Act shows what can work.

The Startup Act is a modest piece of pro-business legislation unveiled Tuesday. It won't change the world, but that's why it may pass. In a partisan Congress, 'good' may be better than 'perfect.' 
Donald Marron
How to fix flawed Medicare budgeting

Budgeting for Medicare's hospital insurance program is flawed. Here are two ways to fix it (and one way not to).
Decoder Wire
Is Washington careening toward another debt limit crisis?

Another showdown appears to be brewing over the national debt limit – and under what conditions Congress will raise it next time. But something big will happen between now and then that may prevent it.
Economist Mom
Creating jobs while reducing the deficit: hard but possible

Just because deficit spending in general can be helpful in a recession and recovery and harmful in general in a recovered economy, doesn’t mean all deficit spending is equally good in a recession and recovery, or all deficit spending is equally bad in a full-employment economy.  There are benefits and costs in either situation.
Boehner draws line in sand on debt ceiling

The Speaker of the House says any raise in the debt ceiling must be accompanied by steep cuts.
Decoder Wire
Democrats return fire after John Boehner's opening debt-ceiling salvo (+video)

Democrats charge that John Boehner's renewed call for spending cuts as a condition to raise the debt ceiling is 'dangerous,' recalling the standoff last summer that drove consumer confidence – and Congress's approval rating – sharply down.
Will Californians trust Jerry Brown enough to vote for his tax increase?

After outlining drastic cuts Monday, Gov. Jerry Brown pleaded with California voters to approve a temporary sales-tax increase. Some experts, but not all, think he can get it through.
Decoder Wire
John Boehner fires opening shot in potential debt-ceiling showdown

In a speech Tuesday, Speaker John Boehner will lay out his expectations for how the debt ceiling will be handled in the next round. His plan harks back to the House Republicans' position last year.
Economist Mom
How to make the Bush tax cuts work

The expiring Bush tax cuts would be worth more than $2.8 trillion over 10 years Instead of complaining about the size of the cuts and not doing anything constructive about it, policymakers ought to commit to using that size in a positive way.
Jerry Brown proposes billions in cuts. Are Californians getting his message?

With California's budget shortfall soaring, Gov. Jerry Brown (D) proposes broad, painful cuts for state workers and programs. Without new taxes, he warns voters, the cuts will be even worse.
California facing higher $16 billion shortfall

California's budget deficit has swelled to $16 billion and will force severe cuts to schools and public safety if voters fail to approve tax increases in November, warns Gov. Jerry Brown.
Tax VOX
Will Obama's views on tax reform 'evolve' too?

Will Obama's public support of marriage equality spill over to financial matters?
Decoder Wire
How the sequester could save Democrats in December

Congress has an apocalyptic list of issues to deal with after the November elections, including the Bush tax cuts and the sequester. Any chance for compromise could rest on Democrats' willingness to be as ruthless as Republicans have been.
Tax evasion: Is IRS tough? Try Brazil's 'Lion.'

Tax evasion is relentlessly sought out by Brazil's tax agents, known as 'The Lion.' Brazil is counting on the crackdown on tax evasion to fund ambitious government spending.
Tax VOX
With European elections, is austerity in the US doomed?

It's easy to look at European elections in France, Greece, Spain, Portugal, Italy, and Denmark and see a massive rejection of fiscal austerity. Is that accurate, and what does it mean for proponents of austerity in the US?
The Daily Reckoning
Will austerity come to the US?

The United States may be headed for the same belt-tightening austerity that has caused an uproar across Europe. Done right, it could actually work.