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Taxes

This tag is associated with 22 posts

Economy Added 146K Jobs In November; Unemployment Falls To 7.7%

via Vicki Needham, The Hill The economy added 146,000 jobs in November while the unemployment rate fell to 7.7 percent. It’s the lowest the jobless rate has been since December 2008, and the report from the Bureau of Labor Statistics was higher than estimates that had predicted Hurricane Sandy would hold total job growth down. … 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

Mitt Romney Completely Blindsided By Loss

via John Dickerson, Slate Mitt Romney says he is a numbers guy, but in the end he got the numbers wrong. His campaign was adamant that public polls in the swing states were mistaken. They claimed the pollsters were over-estimating the number of Democrats who would turn out on Election Day. Romney’s campaign was certain … Continue reading

Is A Deadlocked Election Really Possible?

via Reuters, The Huffington Post As polls point to a close U.S. presidential election, the country faces the possibility of political chaos – from a repeat of the disputed 2000 election to the remote possibility of a new administration with a president from one party and a vice president from the other. The most likely … Continue reading

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

Lesson From CTU Teachers’ Strike: We Need Collaboration To Fix Public Schools

via Amy B. Dean, The Huffington Post “We are striking to improve the conditions in the schools. Right now the children are getting a raw deal.” That statement came from a striking member of the Chicago Teachers’ Union… in 1969. It still resonates in September 2012, when the CTU’s members have again walked a picket … Continue reading

Chicago Teachers Strike Ends With CTU Vote, Classes Resume Wednesday

via Noreen S. Ahmed-Ullah, Diane Rado, and Bill Ruthhart, Chicago Tribune Delegates for the Chicago Teachers Union voted Tuesday to call off their seven-day strike, sending some 350,000 public schools students back to class Wednesday morning and ending the daily scene of teachers dressed in red picketing their schools. The overwhelming vote by the union’s … Continue reading

Mitt Romney Thinks ‘Middle-Income’ Is $200K Or Less

via Steve Peoples, The Boston Globe Mitt Romney is promising to reduce taxes on middle-income Americans. But how does he define ‘‘middle-income”? The Republican presidential nominee defined it Friday as income of $200,000 to $250,000 a year and less. The definition of ‘‘middle income’’ or the ‘‘middle class’’ is politically charged as Romney and President … 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

Why Europe Won’t Create The Next Apple, FedEx Or McDonald’s

via Frank Holmes, Forbes A surprising wealth of information about the world’s most prosperous people can be discovered in two new reports. The Chinese Millionaire Wealth Report 2012, put together by GroupM and the Hurun Report, found that there are now a million millionaires in China. On average, a Chinese millionaire is 39 years old, … 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

Britain Considers Leaving The European Union

via Anthony Faiola, The Washington Post Like so many others in this fiercely independent island nation, Steve Baker, a dashing English engineer, is fed up with the long hand of the European Union in British life. The E.U., he said, has meddled for years in British legal affairs and labor laws. But now the 27-nation … Continue reading

How Legalizing Marijuana Could Reduce The Federal Deficit

via Lucia Graves, The Huffington Post The federal government could save as much $13.7 billion annually if it were to legalize marijuana, according to a paper by Harvard economist Jeffrey Miron. More than half of the savings, $7.7 billion, would come from not having to enforce the current prohibitions against the drug, while an additional … Continue reading

Congress Wants All Cars To Be Equipped With Recording Devices

via Allison Joyce, Reuters The federal government is about to become the country’s worst backseat driver. Congress wants to put tracking devices in the car of every American, and that’s not even the scariest provision in a new bill being passed around Washington. The US Senate has already signed off on a new legislation that, … Continue reading

Health Care Case Seems Likely To Go On In Court

via CBS News The Supreme Court finished Monday the first of three days of arguments on the fate of the Obama administration’s overhaul of the nation’s health care system. The justices appear unlikely to allow an obscure tax law to derail the case. A decision is expected by late June, in the midst of a … Continue reading

Social Conservatism And Sex: Making War Against Love

via David Allyn, Chicago Tribune We seem to be living in a time warp. Conservatives are denouncing not just abortion, but birth control. There was the Rush Limbaugh “slut” episode. Actor Kirk Cameron called homosexuality “unnatural,” “detrimental” and “ultimately destructive.” Meanwhile, Rick Santorum sees Satan lurking in America’s bedrooms. At first blush, such backwardness might … Continue reading

What Eats Up 53 Cents Of Every Tax Dollar?

via Softbox Films

Obama’s War On Weed: White House Launches Crackdown On Medical Marijuana

via Carley Schwartz and Ryan Grim, The Huffington Post Three years on, not a single Wall Street banker has been prosecuted after a financial crisis rooted in rampant fraud brought the global economy to its knees. President Obama’s Department of Justice has more dangerous miscreants to worry about: medical marijuana shop owners. The DoJ has … Continue reading

Occupy Wall Street: A Historical Perspective

via Justin Elliot, Salon Is Occupy Wall Street, with its decentralized structure, lack of strong leaders and no concrete demands, a fundamentally new form of protest? Or does the current movement have antecedents or analogues in American history? If so, what does the past tell us about where this might be headed? For a dose … 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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