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McConnell Proposes Paying For Massive $4 Trillion Tax Cut With $300 Billion Spending Freeze
From Pat Garofalo at the Center for American Progress
This week, Senate Minority Leader Mitch McConnell (R-KY) has been trying to make it abundantly clear that he has no interest in extending the Bush tax cuts for only the middle- and lower-class. Either all of the cuts get extended — including those for the richest two percent of Americans — or nothing happens.
An Antidote To Estate Tax Misinformation
From Sam Pizzigati at the Campaign for America’s Future
Another billionaire has bit the dust here in 2010, and another grand fortune, thanks to this year’s absence of an estate tax, is passing on tax-free to extremely fortunate heirs. But a new resource may help overcome the lies and half-truths that have the estate tax reeling.
Republican Claims for Tax Cuts Break Down
From James Parks at the AFL-CIO
The Republicans keep trying to come up with arguments why Congress should not end the Bush-era tax breaks for the rich. One line that keeps getting thrown out is that ending the tax cut will hurt small business by raising taxes on small business owners.
Holding the Middle Class Hostage
From Ross Wallen at USAction
“President Obama has come out this week with a bit more fire than progressives have come to expect. Sam Stein, reporting from the President’s first press conference since May, quoted President Obama”
Why Are Complainers About “Uncertainty” Creating It On Middle-Class Taxes?
From Bill Scher at Campaign for America’s Future
Pretty much any time the President proposes anything, conservatives cry”Uncertainty!” — that somehow the mere act of proposing reform causes businesses to be become paralyzed by uncertainty at what will happen next.
Reality Check on the High-Income Tax Cuts
From Chuck Marr at the Center on Budget and Policy Priorities
As the debate over whether to extend the Bush tax cuts for families over $250,000 heats up, here are a few facts to keep in mind:
Hatch Concedes Taxes Need To Go Up, Just Not On The Rich Or Oil Companies
From Pat Garofalo at the Center for American Progress
For months, Republicans have been claiming that tax increases — even for the very wealthiest Americans — should absolutely not be a part of any plan to get the country’s long-term deficit under control. Some Republican members of President Obama’s deficit commission have even flatly ruled out any tax increases.
Sen. Alexander: The Bush Tax Cuts Are Free, But Obama’s Tax Cuts Cost Money
From Pat Garofalo at the Center for American Progress
A handful of Republican lawmakers have tried to claim recently that extending all of the Bush tax cuts, including those for the wealthiest two percent of Americans, is free. “Continuing the [Bush] tax cuts isn’t a cost,” said Sen. Tom Coburn (R-OK). “It doesn’t score anything to continue them.”
Peter Orszag’s Tax “Compromise”: Rubin’s Ghost Haunts The Middle Class Again
From Richard Eskow at Campaign for America’s Future
Peter Orszag’s maiden voyage as a New York Times columnist resonates with twenty years of failed economic policy. It’s a grab bag of Robert Rubin’s Greatest Hits, remixed by a younger DJ for new audiences. It’s all there: The mythologizing of the markets. The ritualized search for “credibility.” The search for a middle ground position, where the “middle” is defined by investors and not by voters. And a continuation of tax policies that favor Wall Street and the wealthy.
As a bonus track, we even get the same old Social Security shuffle.
Q & A: Next Steps on the Estate Tax
From the Center on Budget and Policy Priorities
“Today, we sat down with Chuck Marr, the Center’s Director of Federal Tax Policy, to discuss upcoming Congressional action on the estate tax.”
Hot Topic
The Tax Compromise is Just the Start
While Congress and the President have reached a temporary deal on the Bush era tax cuts, there is still much work to be done. Click below to see what issues are still in play, and what’s up next for the tax debate.
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