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 [...]

Multiple Tax Day Events, This Time on the Progressive Side

By: Tuesday April 17, 2012 7:35 am

Over the past few years, Tax Day has meant protests by people in tri-corner hats waving Don’t Tread on Me flags. This year, however, while the Tea Party founders, groups affiliated with the 99% Spring, the labor and progressive-based complement to the Occupy movement, will gather in over 40 states to call for economic justice [...]

New Report Shows 26 Fortune 500 Businesses Paid Negative Tax Rate From 2008-2011

By: Monday April 9, 2012 11:01 am

Last year, the watchdog group Citizens for Tax Justice put out a paper showing that 30 Fortune 500 companies had a negative tax rate for the cumulative years 2008-2010. The corporations singled out by the report submitted a number of excuses to explain away what they claimed was an anomaly, owing to things like short-term [...]

Apple Holding $60 Billion in Offshore Reserves for Ransom

By: Tuesday March 20, 2012 8:55 am

Apple announced a roughly $10 billion annual dividend and a share buy-back program, designed to make use of their hundreds of billions in cash reserves. They estimate it will cost about $45 billion over the next three years. It was a fairly conservative decision by the computer maker, which would still see their reserves grow [...]

Elizabeth Warren Assails Special AIG Tax Deal Allowing Company to Pay No Taxes on Profits

By: Monday March 12, 2012 10:15 am

Elizabeth Warren, running for Senate in Massachusetts, today called attention to a stealth bailout of AIG through special tax breaks created for them and other bailed-out companies. Warren joined a bipartisan group of her former colleagues on the Congressional Oversight Panel, the group that oversaw TARP, to assail the tax preferences for AIG, and demand [...]

Romney Offers Large Tax Cut Plans

By: Wednesday February 22, 2012 1:37 pm

So Mitt Romney released his new tax cut plan in advance of tonight’s Republican debate. As expected, it makes severe cuts to overall tax rates, particularly for those in the top bracket. Mitt Romney released a new tax plan Wednesday that calls for a 20 percent across-the-board cut to individual tax rates. Romney would also [...]

Obama Will Propose Lowering Corporate Tax Rate to 28%

By: Wednesday February 22, 2012 8:15 am

For a couple years now, the Obama Administration has supported a reduction in the corporate tax rate, paired with a broadening of the corporate tax base by removing loopholes. The effect of this is supposed to be revenue-neutral. Considering that the effective corporate tax rate, according to the latest statistics for the last fiscal year, [...]

Missouri – Under Democratic Governor and AG – Becomes Second State to Vow to Divert Foreclosure Fraud Settlement Money to Budget

By: Monday February 13, 2012 7:37 am

Lots of people were angered by Wisconsin Governor Scott Walker’s announcement that he would use money gained from the foreclosure fraud settlement to plug his budget hole. I suspected that a lot of states with a budget gap would go this route. And that apparently includes Missouri, a state with a Democratic Governor and a [...]

New Obama FY2013 Budget Reflects Shift in Tone More than Policy

By: Sunday February 12, 2012 10:12 am

Noam Scheiber has an excerpt of his new book on Obama’s economic policy in The New Republic. It focuses on 2011 and the series of bruising negotiations with Republicans over the deficit. And it includes the now-familiar internal White House struggles between deficit reduction and economic stimulus, with deficit reduction winning out through 2010 and [...]

Senate Democrats Line Up Message Votes on Tax Fairness

By: Friday January 27, 2012 11:35 am

I don’t know if anything’s going to get done in Congress in 2012, but one thing is becoming clear – Senate Democrats will try to put Republicans up against the wall on taxes. They already have on the record multiple instances of Republicans voting almost in unison against millionaire’s surtaxes. Now we’ll see votes on [...]

Politicians Love a Complex Tax Code

By: Thursday January 26, 2012 12:19 pm

I have to agree with Howard Gleckman of the Tax Policy Center on this one. And I’ve noticed this tension among politicians for a while. On the one hand they want to say that they favor a “simpler” tax code, and they like to talk about how many thousands of pages the tax code is [...]

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