Bush tax cuts

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Obama 'Open' to Tax-Cut Compromise

President may be willing to give ground after midterm losses

(Newser) - In what promises to be an, ahem, interesting dinner party, President Obama will meet with both sides of the aisle at a Nov. 18 White House dinner—during which tax cuts will be at the top of the agenda. What's more, the White House may be willing to compromise in...

Are People Planning Death to Avoid Estate Tax?

Rep. Cynthia Lummis says it's the case in Wyoming

(Newser) - Rep. Cynthia Lummis claims her Wyoming constituents are literally planning to die by Dec. 31 to avoid paying estate taxes, which will be reinstated when Bush-era tax cuts expire at year-end, reports the AP . She explained their logic this way: "If you have spent your whole life building a...

Deficit Fights Loom for Lame Duck Congress

Spending bill, Bush tax cut decision will have to be made quickly

(Newser) - The federal deficit has played a huge role in the midterm elections, but it might become an even bigger issue right after them, when a lame duck Congress is forced to make immediate decisions about the expiring Bush tax cuts, and pass an overdue spending bill to keep the government...

Warren Buffett: Cut Taxes, But Not for the Rich

Billionaire slams tax system, Wall Street 'casino' pay

(Newser) - Finance wiz Warren Buffett believes taxes should be cut—but not for him or other wealthy Americans. The 80-year-old investor, speaking at the Most Powerful Women summit in Washington, said it's absurd how he pays the lowest rate of tax of anybody in his office, including the cleaning lady, CNN...

Limbaugh: Obama Is an 'Imam-Child'

Shaving top tax cuts turns Rush apoplectic over 'economic ignoramus'

(Newser) - Right-wing trumpet Rush Limbaugh absolutely tore into President Obama yesterday, calling the commander in chief a "jackass," an "economic ignoramus," and an "idiot," over his support for extending the Bush tax credits to all but the top 2%. Obama said at a speech before...

Pelosi's No. 2: Colbert Was 'an Embarrassment'
 Pelosi's No. 2: 
 Colbert Was 'an 
 Embarrassment' 
TALK SHOW ROUNDUP
Sep 26, 2010 12:08 PM CDT

Pelosi's No. 2: Colbert Was 'an Embarrassment'

Also, pols debate the Pledge to America

(Newser) - Add Steny Hoyer to the list of congressmen not in the Colbert Nation: The House majority leader today told Fox News Sunday that Stephen Colbert's "testimony was not appropriate. I think it was an embarrassment for Mr. Colbert more than the House. What he had to say was not...

Republicans Now Waging 'War on Arithmetic'
Republicans Now Waging
'War on Arithmetic'
Paul Krugman
Sep 24, 2010 12:39 PM CDT

Republicans Now Waging 'War on Arithmetic'

Paul Krugman: The new 'pledge' will bring us a 'banana republic'

(Newser) - Republicans have outdone themselves with their Pledge to America , writes Paul Krugman. The manifesto complains over and over about the national debt, but its main policy idea is to extend all the Bush tax breaks—while offering relatively few spending cuts. "Never mind the war on terror, the party’...

Most Americans Think Rich Are Too Rich

Or at least too much richer than the poor. Study finds 92% prefer Swedish model

(Newser) - Most Americans—even rich ones and Republicans—think too much money is concentrated in the hands of too few, according to a study unearthed by Huffington Post . Researchers found that, across income and ideological groups, people both underestimated how much money is in the hands of the richest and expressed...

Senate Democrats Postpone Fight Over Tax Cuts

No vote until after the November election

(Newser) - Senate Democrats have decided to delay a vote on the volatile issue of the Bush tax cuts until after the November election, the Washington Post reports. The move avoids a pre-election showdown in the chamber between Republicans, who want to extend all the expiring cuts, and Democrats, who want to...

Whiny Law Prof Quits Blogging After Lament for Rich People

'Super rich' Todd Henderson complained about taxes

(Newser) - Todd Henderson has quit blogging—just a bit too late to avoid a stint as an internet punching bag. "I was a fool," he writes for Truth on the Market . "I wish I had just stuck to blogging about corporate law and such, but I couldn’t...

GOP Is Extorting Middle Class
 GOP Is Extorting Middle Class 
Paul Krugman
Sep 17, 2010 11:07 AM CDT

GOP Is Extorting Middle Class

Krugman: Mitch McConnell might as well be a gangster

(Newser) - Mitch McConnell knows he doesn’t have the votes to blow up the budget by extending big tax cuts for the rich. “So he’s trying to get what he wants by pointing a gun at the heads of middle-class families,” writes Paul Krugman of the New York ...

McConnell: Freeze All Tax Rates


 McConnell: 
 Freeze All 
 Tax Rates 
NEVER MIND THAT JOHN BOEHNER
Sep 13, 2010 6:56 PM CDT

McConnell: Freeze All Tax Rates

Says Americans have 'had it' with Dems' '2-year adventure in expanded gov't'

(Newser) - John Boehner might vote to extend middle-class tax cuts while letting those on the top 2% expire, but Mitch McConnell wants them frozen—across the board, no ifs, ands, or buts. Saying Americans have "had it" with Dems' "fiscal recklessness," the Senate majority leader today introduced legislation...

Tax Cuts: Good for Politicians, Not Economy

There are better ways to go, but no one wants another stimulus

(Newser) - “Tax cuts” is a phrase politicians love, especially in election season—but they may not do the economy much good at all. Those in favor of extending the Bush tax cuts (Republicans and a few Democrats) argue that ending the tax cuts, thus increasing taxes, for anyone—even the...

Koran-Burning a 'Bonanza for al-Qaeda': Obama

President fears 'stunt' will endanger troops, lead to violence

(Newser) - President Obama weighed in on the Koran-burning controversy for the first time today, calling it "a recruitment bonanza for al-Qaeda." His comments came during an interview with George Stephanopoulos airing today on Good Morning America . Highlights:
  • His message to Pastor Terry Jones: "This stunt that he is
...

Obama to Democrats: Let the Bush Tax Cuts Expire

But he won't veto a compromise that extends them

(Newser) - President Obama intends to take a clear stand against extending the Bush tax cuts for the top 2% of earners in a speech today, sending a message to Congressional Democrats who are leaning toward a compromise with Republicans. Obama won’t actually threaten to veto a bill that extends the...

Why We Need the Bush Tax Cuts (for Now)
Why We Need the Bush Tax Cuts (for Now)
PETER ORSZAG
Sep 7, 2010 11:28 AM CDT

Why We Need the Bush Tax Cuts (for Now)

Ex-budget director preaches eventual belt-tightening

(Newser) - America actually has two deficits: a budget deficit, and a jobs deficit. The jobs deficit is a problem in the near term, while the budget deficit is more of a medium- and long-term problem. That’s why we need to extend the Bush tax cuts for two years, and then...

Let's Fix America With Millionaires' Money
Let's Fix America With Millionaires' Money 
Steven Pearlstein
Sep 3, 2010 2:40 PM CDT

Let's Fix America With Millionaires' Money

Republican arguments are 'hogwash'

(Newser) - The Democrats are in desperate need of an economic and political boost, and the expiring Bush tax cuts ought to provide one, writes Steven Pearlstein of the Washington Post . The economics are simple: You can’t raise taxes on the middle class in a recession, but the rich would only...

Democrats to Fight to Keep Tax Cuts for Rich

Small but growing group backing away

(Newser) - All those fears about Obama raising income taxes on the rich may prove unfounded, if a small but growing group of moderate Democrats gets its way. Whether they're nervous about facing tax-hating constituents, hail from areas teeming with rich taxpayers, or just don't want to be seen as boosting taxes...

GOP's Policies Are Cheap, Incoherent

 GOP's 
 Policies 
 Are Cheap, 
 Incoherent 
Ruth Marcus
Aug 25, 2010 11:03 AM CDT

GOP's Policies Are Cheap, Incoherent

John Boehner isn't the kind of opposition leader we need

(Newser) - Sometimes, Ruth Marcus thinks it would be nice if the country had a divided government. It would force the GOP to quit posturing and start governing, and allow Democrats to make hard choices on entitlement spending. “That’s the theory. Then there’s John Boehner,” she laments in...

Stewart: Republicans Are Financial Doofuses

They're letting the deficit eat their children!

(Newser) - Last night, Jon Stewart set his sights on the GOP and the scary, scary deficit. He started with a clip montage outlining Republicans' fears: "Spending is out of control." "People are aghast." "They're scared to death about the future for their kids." In other...

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