Facebook Likes Tax Breaks

By: Monday February 18, 2013 9:02 am

So much for boot-strapping. Facebook Inc. is done with the pretense of Silicon Valley meritocracy and has moved on to Corporate American crony capitalism taking a multimillion dollar tax break according to Citizens for Tax Justice. Last year at this time, CTJ predicted, based on Facebook’s IPO paperwork, the company would get a federal tax [...]

Boehner in Bargaining Phase: Calls for Millionaire’s Bracket

By: Sunday December 16, 2012 9:31 am

House Speaker John Boehner’s latest offer sheet to the President in the fiscal slope negotiations includes an increase in tax rates on people earning $1 million a year, the first time that the Republican leader has proposed any tax rate hike. The White House, seeking rises on tax rates above $250,000, rejected the offer. Boehner [...]

Corporate Tax Reform Dropped Into Fiscal Slope Negotiations

By: Wednesday December 12, 2012 6:17 am

I think the White House added the corporate tax piece into the negotiations so that they could get business groups to pressure Boehner on the other points, especially raising individual tax rates. John Engler of the Business Roundtable dutifully carried that out yesterday.

Obama Donors Getting Lots of Face Time in Fiscal Slope Meetings

By: Thursday November 29, 2012 10:00 am

The President and senior Administration officials have met with lots and lots of people about the fiscal slope in the wake of the election. Everyone, in fact, but most of the House Republican deciders who will determine the bulk of the deal. But as it turns out, many of the meeting attendees included Obama campaign [...]

Campaign to Fix the Debt Backscratches Politico for Publicity

By: Tuesday November 13, 2012 11:45 am

This Campaign to Fix the Debt organization bankrolled by a bunch of corporate interests has become the newest entry into the Washington favor factory, and it certainly knows how to spread the money around. This anecdoteabout the organization and Mike Allen’s rumor-laundering morning dish “Playbook” is very illustrative. Politico chief White House correspondent Mike Allen [...]

The Democratic Platform on Social Insurance and the Deficit

By: Tuesday September 4, 2012 6:28 am

I read the Democratic Party platform last night, a 40-page document that mostly repeats the message from past Obama budgets and State of the Union addresses. Party platforms from the incumbent defend the past four years as much as they set an agenda for the future, and this one is no different. “We knew that [...]

Tax Extenders Pass Senate Finance Committee

By: Friday August 3, 2012 6:58 am

Lori Montgomery’s story on yesterday’s tax extenders vote in the Senate Finance Committee is kind of aggressively stupid, the kind of story that uses funny-sounding tax breaks as the basis for an anti-Congress pose. In reality those funny-sounding tax breaks amount to a rounding error in the overall budget. Most of the tax extender package, [...]

House Republican Tax Plan Would Enact Process to Radically Alter Tax Code

By: Sunday July 29, 2012 9:25 am

In the coming days, the House will pass a tax bill that would extend the Bush tax cuts entirely for one year. This stands in slight contrast to a Senate-passed bill that extends the same tax cuts for the first $250,000 of income. But what I didn’t realize is that the House bill will also [...]

Territorial Taxation a Recipe for More Offshoring of American Jobs

By: Tuesday July 17, 2012 10:25 am

President Obama’s campaign added a new twist to their assault on Mitt Romney yesterday, saying that his jobs plan would create 800,000 jobs overseas. This is largely a talking point, but it’s good to look at the consequences of a territorial taxation regime, which is what the campaign essentially does here. They rely on a [...]

Honeywell CEO, Presidential Appointee to Catfood Commission Cote: Eliminate Corporate Taxes

By: Friday June 1, 2012 9:04 am

Honeywell CEO David Cote said yesterday – when his goons weren’t yanking the microphone away from a labor reporter asking a question – that the ideal corporate tax rate should be zero percent: SORKIN: David, I have a tax question for you. What do you think the ultimate effective tax rate should be on corporations? [...]

The Bush Tax Cut Fight on the Left: Americans for Tax Fairness Launches

By: Friday May 25, 2012 6:18 am

So here’s a new development in this Nancy Pelosi/Bush tax cut situation. Last night, a new coalition called “Americans for Tax Fairness” was formed, composed of nearly 30 labor unions and progressive groups. They have a Facebook page here (UPDATE: That is not a Facebook page for this iteration of Americans for Tax Fairness, but [...]

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