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DEBT & TAXES

This category contains 11 posts

John Boehner Fails To Rally Republican House Members Around ‘Plan B’

via New Jersey Area News Group Things were so bad for Speaker John Boehner Thursday night, support for his Plan B tax bill so diminished, the limits of his power with his own party laid bare, that he stood in front of the House Republican Conference and recited the Serenity Prayer. “God grant me the … Continue reading

Grover Norquist’s GOP Tax Pledge: What It Is and How It Started

via Chris Good, ABC News As Congress wrangles over the fiscal cliff, one tiny document will loom large over the negotiations. Known in Republican circles simply as “The Pledge,” the Americans for Tax Reform (ATR) Taxpayer Protection Pledge has steered GOP tax policy for decades, applying pressure to any candidate, lawmaker, or president who would … Continue reading

Congressman Honda: Paul Ryan’s Budget Would Destroy The American Dream

via Congressman Mike Honda (D-CA), Politix This election year Americans are faced with a difficult decision on how to best move our country forward. Among the proposals to address our economic challenges and federal deficit is one filled with extreme, regressive, and deeply cynical policy choices: that of congressman and vice presidential nominee Paul Ryan. … Continue reading

End-Of-Term Report: Obama’s Record Is Better Than The Woes Of America’s Economy Suggests

via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading

Republican Platform Approved By GOP In Tampa

via Philip Elliot and Alan Fram, The Huffington Post Republicans emphatically approved a toughly worded party platform at their national convention Tuesday that would ban all abortions and gay marriages, reshape Medicare into a voucher-like program and cut taxes to energize the economy and create jobs. The document opens by warning that while the American … Continue reading

U.S. Congressional Budget Office Warns Of Worse Economic Wreckage From “Fiscal Cliff”

via David Lawder, Reuters Massive U.S. government spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, the Congressional Budget Office warned on Wednesday. Without action by Congress to avoid a “fiscal cliff,” Americans should expect a “significant recession” … Continue reading

Is Voter Fraud Behind Mitt Romney’s Reluctance To Release Tax Returns?

via M.S. Bellows, Jr., The Guardian There has been much speculation about why Romney refuses to disclose earlier tax returns. Could it be as simple as an address? Friday’s exchange of letters between the election campaigns of Barack Obama and Mitt Romney, in which Romney rejected Obama’s offer to drop the tax return issue if … Continue reading

Obama To Romney: Five Years Of Tax Returns Would Suffice

via Elizabeth Hewitt and Abby Ohlheiser, Slate The Obama campaign has an offer for Team Romney: Release five years’ worth of tax returns and they’ll stop asking to see more. Obama campaign manager Jim Messina released an open letter to the candidate on Friday outlining the deal: “If the governor will release five years of … Continue reading

Middle-Aged Americans Struggle Most With Student Debt

via Josh Mitchell, The Wall Street Journal Student debt is rising sharply among all age groups, but middle-aged Americans appear to be struggling the most with payments, according to new data released Tuesday by the Federal Reserve Bank of New York. The delinquency rate—or the percentage of debt on which no payment has been made … Continue reading

Student Debt: Marco Rubio Among Members Of Congress Who Owe Thousands On Their Loans

via Tyler Kingkade, The Huffington Post Even members of Congress are carrying student debt. Sen. Marco Rubio (R-Fla.) is $100,000 in the hole for student loans he took out in the 1990’s — and could owe as much as $250,000. The exact figure is unknown because members of Congress are allowed to report financial holdings … Continue reading

Student Loan Interest Rate Bill That Cuts Health Care Program Passes House

via Michael McAuliff, The Huffington Post The House of Representatives advanced a bill Friday that funds cheaper student loans by cutting a preventive health care program — sparking a heated battle in which House Speaker John Boehner (R-Ohio) accused Democrats of manufacturing a war on women. The House passed the bill by a vote of … Continue reading

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