Labor Income Dropped Off the Cliff Starting in 2000

By: Wednesday September 26, 2012 9:11 am

After Mitt Romney released his tax returns, there was a minor debate on the left over capital gains taxes. Clearly Romney’s low tax rate was a function of the reduced 15% rate on investment taxes like capital gains and dividends. And some made arguments about how this merely reflected classical economic thinking, that investment should [...]

Senate Democratic Tax Plan Increases Revenue By $28 Billion in 2013

By: Thursday July 19, 2012 1:41 pm

$28 billion. That’s the difference, in 2013, between the Democratic and Republican tax plans on the Bush tax cuts, which shows the narrowness of the debate. Republicans want to extend all the Bush tax cuts permanently. Democrats have countered with a bill, which will get a vote in the Senate next week, that would extend [...]

So, Will Schumer Now Propose a 35% Tax on Capital Gains and Other Tax Avoidance Schemes?

By: Thursday May 17, 2012 7:08 pm

My colleague David Dayen, perhaps more optimistic than I, is hopeful that Senator Chuck Schumer’s proposal (with Senator Casey) to impose a tax penalty of 30 percent on those who renounce US citizenship to avoid US taxes will have useful spillover effects.  I hope he’s right. I suspect Chuck Schumer is pulling a fast one [...]

Capital Gains Tax Cuts Massively Transfer Wealth to the Top

By: Monday September 12, 2011 12:31 pm

The biggest reason why you would want to use higher taxes on the rich and the nation’s largest corporations if you’re going to pay for stimulative job-creation measures is not just because these would be the least disruptive offsets for an economy waiting to heal. Just as high on the list is the fact that [...]

Walker’s Two-Year Budget Shows Repair Bill to Be Trojan Horse

By: Wednesday March 2, 2011 6:33 am

The reality of Scott Walker’s two-year budget is setting in, and people have begun to connect the dots. The reason Walker needs to gut collective bargaining now is because he’ll need to silence state and local workers’ voices when he guts their pay later. That’s the only way you can have the municipalities and school [...]

Tax Cut Deal Includes Monstrous Estate Tax, Dividend Concession

By: Monday December 6, 2010 2:15 pm

I don’t think we should jump on this fully until we see a full solution. But enough of the usual suspects have signaled that a tax cut deal is imminent, with the same broad contours, that we should take a look at the particulars. Here’s Jon Ward (although others have corroborated): The deal will extend [...]

Business Working the Refs Works – White House Policies Tailored to Their Desires

By: Friday July 9, 2010 8:30 am

You know the phrase “the squeaky wheel gets the grease,” right? Well, some wheels are squeakier than others. When labor and progressive groups show their displeasure with the White House, they are told that they need to stay in the fold. When business has their fee-fees hurt, the White House leaps into action to reassure [...]

Schumer Open To Closing Hedge Fund Manager Loophole

By: Monday April 12, 2010 9:45 am

On a conference call today to discuss the unemployment insurance and COBRA extensions expected to clear an initial cloture vote in the Senate today, Sen. Charles Schumer (D-NY) conceded that the Congress may pass a change to how hedge fund manager income is taxed to pay for a larger extension of UI, COBRA and other [...]

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