Boehner’s Plan B Also Cuts Taxes on Rich, Raises Them on Poor

By: Thursday December 20, 2012 6:25 am

John Boehner may not even have the votes for today’s “Plan B,” a bill that effectively raises taxes on people making over $1 million a year. He was seen gladhanding on the House floor last night, whipping votes for his side. He can only lose 24 votes to reach 217 (there are a couple vacancies [...]

Why Republicans Favor Revenue From Deductions Over Rate Hikes

By: Monday December 3, 2012 6:26 am

Lead negotiators laid out the impasse in fiscal slope negotiations on the Sunday shows. It boils down to taxes, with the White House seeking that increase in the top tax rates, and Republicans claiming to be open on revenue, but only from the capping of deductions or closure of loopholes. Treasury Secretary Timothy Geithner said [...]

Grand Bargain Gambit Also Seeks to Make Others Pay for the Sins of Elites

By: Thursday November 15, 2012 10:00 am

The President’s meeting with CEOs played out just as expected, as they offered support for any kind of a deal that averted the fiscal slope and a flood of austerity in 2013. Obviously they have a very particular perspective, grounded in cuts to their own corporate tax rates while the elderly and poor bear the [...]

Both Parties Flocking to Grab Elements of Romney’s Tax Plan

By: Tuesday November 13, 2012 10:00 am

John Boehner began the post-election public negotiations on the fiscal slope by proposing Mitt Romney’s tax plan of lower rates and a broadened tax base through limits or eliminations of deductions. But he’s not the only person in Washington eyeing the Romney plan. Democrats have an appetite for one part of it as well. With [...]

Boehner Opens Grand Bargain Negotiations By Proposing the Romney Plan

By: Thursday November 8, 2012 6:26 am

I touched on this yesterday, but let’s take a closer look at John Boehner’s opening offer on revenue, designed to avoid the fiscal slope (it’s not a cliff). I think it will become familiar to you if you look at the exact language. For the purposes of forging a bipartisan agreement that begins to solve [...]

Advisor Says Romney Would Scrap Mathematically Impossible Tax Plan if It’s Mathematically Impossible

By: Wednesday September 26, 2012 10:18 am

Mitt Romney has had a policy problem in this Presidential race for some time. He has promised a 20% across-the-board cut to individual income tax rates. Yet he has also promised that the the overall plan would remain revenue-neutral, particularly for the rich, because he will eliminate deductions and loopholes. The problem, aside from Romney [...]

The Case for Raising Top-End Tax Rates Over Minimizing Deductions

By: Monday November 28, 2011 1:28 pm

Paul Krugman’s column today includes some additional possibilities for taxation beyond just returning to the Clinton-era tax rates, which he implicitly endorses here (the first major name to endorse do-nothingism, as far as I can tell). One of his options is higher rates on the rich: About those high incomes: In my last column I [...]

Buffett Rule Not Really A Rule

By: Thursday September 22, 2011 8:15 am

The “Buffett rule,” the principle that a millionaire should never pay a lower rate of tax than his or her secretary or anyone else working in the middle class, has excited many on the left. There is a legitimate issue of effective middle class tax rates being higher than a non-trivial segment of the millionaire [...]

American Jobs Act Pay-Fors All on Tax Side

By: Monday September 12, 2011 10:55 am

Well, this is a bit unexpected. OMB Director Jack Lew strolled into the White House briefing room and laid out the plan to pay for the American Jobs Act, and it’s entirely from ending tax breaks for rich people and corporations. Among the offsets suggested by Lew: • New limits on deductions for income over [...]

The Debt Limit Deal Is a Gift for Republicans

By: Saturday July 2, 2011 7:41 am

The LA Times finds a nut and recognizes that, no matter what deal ultimately emerges from the debt limit talks, it’s going to be a Republican victory: Even as the political battle mounts over federal spending, the end result for federal policy is already visible — and clearly favors Republican goals of deep spending cuts [...]

Obama Enters Debt Limit Talks, With a Focus on Revenue

By: Tuesday June 28, 2011 7:02 am

The President entered the debt talks yesterday, meeting with the leaders of both parties in the Senate. And we’re starting to get some numbers out of the negotiations. The “down payment” of deficit reduction is expected to be anywhere from $2-$2.4 trillion, of which between $500 billion and $1 trillion has been agreed to. So [...]

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