Bush tax cuts

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Paul Krugman: Obama Must Say No to 'Tax Cut Blackmail'
Obama Must Say No to
'Tax Cut Blackmail'
paul krugman
Dec 6, 2010 12:30 PM CST

Obama Must Say No to 'Tax Cut Blackmail'

GOP closer to making 'irresponsible' cuts permanent: Paul Krugman

(Newser) - It’s time for President Obama to stand up against a GOP that wants to extend “obviously irresponsible” tax cuts for the wealthiest Americans, writes Paul Krugman in the New York Times . Keep in mind the big picture: Republicans want to make these cuts permanent, and if they agree...

Tax Cut Deal May Hinge on House Democrats
Tax Cut Deal May Hinge on House Democrats
analysis
Dec 6, 2010 11:11 AM CST

Tax Cut Deal May Hinge on House Democrats

Biden, Pelosi gear up to fight for Obama-GOP plan

(Newser) - As President Obama and GOP senators iron out a deal on extending the Bush tax cuts, the real fight will be in the House, writes Howard Fineman at the Huffington Post . The Senate's version will have to circle back to the House for approval, and even if all House Republicans...

Wall Street May Dish Out Bonuses Early to Avoid Taxes

Executives could lose tens of thousands if paid early next year

(Newser) - Wall Street is worried: If Congress fails to extend the Bush tax cuts for the nation’s highest earners, then any bonuses paid early next year—the normal time frame—will cost a typical worker an extra $40,000 to $50,000 in taxes on a $1 million bonus. So...

So, What Else Could We Get for $60B?
 So, What Else Could 
 We Get for $60B? 
tax cut analysis
Dec 5, 2010 3:32 PM CST

So, What Else Could We Get for $60B?

Tax cuts for high earners will cost us

(Newser) - Congress appears to be on the verge of extending the Bush tax cuts on income above $250,000 a year, which will cost the US $60 billion a year, writes David Leonhardt in the New York Times . What else could that amount of money buy?
  • It could reduce the deficit
...

Senate Rejects Democrats' Tax Bills
Senate Rejects Democrats'
Tax Moves
Dec 4, 2010 10:37 AM CST

Senate Rejects Democrats' Tax Moves

Expected defeats come as negotiators work on compromise

(Newser) - In a largely symbolic move, Senate Democrats tried unsuccessfully today to push through two measures related to the Bush tax cuts. The first would have extended the expiring cuts to individuals making less than $200,000 a year, and the second would have hit millionaires, reports the Wall Street Journal...

Obama Should Scrap the Current Tax Code
Obama Should Scrap the Current Tax Code
David Brooks
Dec 3, 2010 12:37 PM CST

Obama Should Scrap the Current Tax Code

David Brooks: Starting over might actually unite both parties

(Newser) - Barack Obama shouldn’t worry about tweaking the current tax system—he should try to replace it, writes David Brooks of the New York Times . In Brooks’ vision, Obama would go before the American people and end the Bush tax cut debate. “I have my own views,” he...

Obama, GOP Hold Hushed Tax-Cut Talks

President calls for speedy renewal of jobless benefits

(Newser) - Could the president and GOP lawmakers be inching toward compromise ? Working against the clock, Obama and congressional Republicans have been holding behind-the-scenes talks about extending tax cuts—due to expire at year’s end—and renewing expired emergency jobless benefits, and they're making slow and steady progress on the...

House Votes to Scrap Tax Cuts for Wealthy

But bill has no chance in the Senate

(Newser) - Call it a symbolic gesture or call it chicken crap , but the House has officially staked its position on the Bush tax cuts. It voted today 234-188 to keep them in place for the middle class but let them expire for the wealthy, reports the Hill . The latter is defined...

Boehner: Democrats' Tax Bill Is 'Chicken Crap'

Says House vote is a political stunt

(Newser) - John Boehner's line about the Democrats' pending House vote on the Bush tax cuts is getting plenty of attention for the Speaker-to-be, notes Politico : “I’m trying to catch my breath so I don’t refer to this maneuver going on today as chicken crap, all right?” he told...

Tax Cut Showdown: Dems' Two Options

Must win centrists as Bush cuts expire

(Newser) - When it comes to tax cuts, the Democrats’ options are few. Politically speaking, it’s too late to force the expiration of Bush cuts on those earning more than $250,000. But Dems have two notable choices, writes David Leonhardt in the New York Times : one, to let the Bush...

Obama, GOP Will Keep Working on Tax-Cut Deal

They hope to reach compromise on Bush cuts by year's end

(Newser) - Reaching no quick fixes, President Obama and Republican leaders in Congress today vowed to seek a compromise on tax cuts before year's end. "The American people did not vote for gridlock," Obama said following the session. There was no consensus on whether to keep Bush-era tax cuts in...

Warren Buffett: Rich Sons Not Coming Home in Body Bags

He continues crusade for higher taxes

(Newser) - Warren Buffett continued his plea that the rich be taxed more—but he went a bit further today than he did last week . “There's no sacrifice among the rich,” he told ABC’s This Week, according to Politico . “There's plenty of sacrifice going on now. I mean,...

'Patriotic Millionaires': Raise Our Taxes

A handful of the wealthy form fiscal responsibility club

(Newser) - Some of the country’s richest people are asking President Obama to raise their taxes. More than 40 millionaires have signed onto a group called “ Patriotic Millionaires for Fiscal Strength ,” advocating a rollback of the Bush tax cuts for anyone earning more than $1 million a year. “...

US Is Worse Than Banana Republics
 US Is Worse Than 
 Banana Republics 
Nicholas Kristof
Nov 18, 2010 12:59 PM CST

US Is Worse Than Banana Republics

Yet somehow we need to give the rich tax breaks?

(Newser) - It’s tempting to say that the US now has a banana republic-level income inequality, but that’s not fair—to banana republics. “The truth is that Latin America has matured and become more equal,” writes Nicholas Kristof of the New York Times , even as the US has...

McCain: I'm Cool With Cindy's Ad
 McCain: I'm Cool With Cindy's Ad 
TALK SHOW ROUNDUP
Nov 14, 2010 12:11 PM CST

McCain: I'm Cool With Cindy's Ad

Senator respects 'First Amendment rights of every member of my family'

(Newser) - John McCain's just fine with wife Cindy's stance (or revised stance? ) on Don't Ask, Don't Tell, telling Meet the Press that "I respect the First Amendment rights of every member of my family." The missus McCain backtracked on her appearance in an ad calling for the repeal...

Quit Waffling, Obama, and Stand Up to Bazillionaires

The mega-rich are sucking America dry, pay less taxes than ever

(Newser) - The electorate may have little love for wealthy, would-be politicians like Meg Whitman, John Raese, and Linda McMahon, writes Frank Rich for the New York Times . But maybe they should: Whitman and Co. were at least trying to give back, unlike most obscenely wealthy folk. The top 1% of American...

Obama: I'm Not Caving on Tax Cuts

Says it would be 'irresponsible' to keep them for the rich

(Newser) - Barack Obama says he’s not giving in to Republican demands to extend the Bush tax cuts for the wealthy, sharply refuting comments from David Axelrod indicating that he would. (Axelrod, incidentally, has also walked back the comments.) “That is the wrong interpretation, because I haven’t had...

Axelrod: No, We Won't Cave on Tax Cuts

Strategist backs away from Huffington Post quotes

(Newser) - Democrats won’t compromise their position on the Bush tax cuts, David Axelrod said today, hastily retreating from a Huffington Post article in which he said they would. “We’re willing to discuss how we move forward,” he wrote in an email to the National Journal , “but...

White House Caves, Will Extend Bush Tax Cuts

But Axelrod says Obama will veto any health care threat

(Newser) - Any Republican attempt to repeal health care reform legislation won't make it past President Obama's veto pen, top adviser David Axelrod tells the Huffington Post. The president is willing to give ground in other areas and is prepared to accept an across-the-board continuation of Bush-era tax cuts even for the...

It's Time for Obama to Call GOP's Bluff

Rich: Make the Republicans get specific

(Newser) - President Obama took a "shellacking" because Democrats didn't have a coherent message for America. But, argues Frank Rich in the New York Times , the Republicans don't, either. To regain some ground, Obama must call the right's bluff, and force the GOP to get specific. The Republicans keep talking about...

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