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Bush Tax Cuts

This tag is associated with 7 posts

Congress Does Bare Minimum To Avoid Shutdown, Ends Session To Hit Campaign Trail

via AP, Los Angeles Times The Senate closed the Capitol on Saturday after sending President Obama a spending bill that will make sure the government won’t shut down Oct. 1, the start of the new budget year. The measure passed early Saturday by a 62-30 vote — and then lawmakers skipped out of town to … Continue reading

Neither Obama Or Romney Show Much Interest In Pre-Election Day Deal On Sequestration

via Jeremy Herb, The Hill’s Ballot Box The tight presidential race has all but ensured that Congress will not pass a bill before the election that would halt sequestration cuts to the military. President Obama and presumptive GOP nominee Mitt Romney have traded barbs over sequestration as the issue has amplified on the campaign trail … 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

The Rich Get Even Richer

via Steven Rattner, The New York Times New statistics show an ever-more-startling divergence between the fortunes of the wealthy and everybody else — and the desperate need to address this wrenching problem. Even in a country that sometimes seems inured to income inequality, these takeaways are truly stunning. In 2010, as the nation continued to … Continue reading

A Tax Others Embrace, U.S. Opposes

President Obama’s proposal for a new tax on millionaires echoes a call in many countries struggling with budget deficits and overwhelming debts to make the wealthy pay more. Britain and France have imposed new taxes on their highest earners — and Italy, Spain, Greece and Japan are considering similar moves, despite some protests. Whether the … Continue reading

Obama’s Jobs Plan Paid For? Seems Not

President Barack Obama’s promise Thursday that everything in his jobs plan will be paid for rests on highly iffy propositions. It will only be paid for if a committee he can’t control does his bidding, if Congress puts that into law and if leaders in the future — the ones who will feel the fiscal … Continue reading

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