Republican Freshman Calls for Millionaire’s Surtax

By: Thursday March 15, 2012 6:13 am

Breaking a united front in the Republican Party that goes back a number of years, freshman GOP Congressman Rick Crawford (R-AR) will unveil a millionaire’s surtax proposal today. The Arkansas Republican will unveil the plan during a local television interview Thursday morning, and plans to introduce legislation when the House returns next week, according to [...]

The Next Payroll Tax Fight: A Preview

By: Friday December 23, 2011 8:55 am

With the two-month stopgap put to bed, all eyes turn to the next round on the fight to extend a payroll tax cut and unemployment insurance. Once this law is signed, lawmakers will have until the end of February to reach agreement on what they claim to want, a year-long extension on the above two [...]

Democrats Undertake Inevitable Elimination of Millionaire’s Surtax

By: Wednesday December 14, 2011 2:14 pm

It’s supposed to be news, for some reason, that Democrats may dump the millionaire’s surtax at the heart of their offsets for payroll tax cut legislation. Democratic lawmakers are considering whether to jettison their demand for a millionaires’ surtax, which they had hoped to use to cover the cost of a Social Security payroll tax [...]

Senate Republicans Block Second Dem Payroll Tax Cut Package

By: Thursday December 8, 2011 12:52 pm

Making an obstructionism exacta today, Senate Republicans defeated the motion to proceed on a second payroll tax cut bill by a 50-48 count. The roll call is here. Joe Manchin and Bernie Sanders crossed the aisle to vote with all the Republicans. Sanders opposes the measure because another year of payroll tax cuts threatens Social [...]

Cuomo Reaches Deal to Raise Taxes on Rich, Responding to Demands of 99%

By: Tuesday December 6, 2011 2:15 pm

In addition to the maneuvers aimed at raising taxes on the rich in California, in New York, where the process to raise said taxes isn’t as byzantine, state leaders have agreed in principle on a deal to increase taxes on the wealthy. And this is a reversal from a vow by Andrew Cuomo from earlier [...]

California Conundrum: Competing Ballot Measures on Taxes Could Undermine One Another

By: Tuesday December 6, 2011 7:50 am

It is said that California is a harbinger for the nation. Since we’re having a national conversation about taxes for the wealthy, it’s natural that California would play a role in that conversation. But a difference of opinion in how to go about that conversation could result in a counter-productive disaster – or a bounty [...]

Full Details of New Payroll Tax Cut Legislation Released

By: Monday December 5, 2011 2:20 pm

OK, so we have the full language now of the compromise measure for the payroll tax cut, and there are basically three components to the pay-for for the legislation, which now only increases and extends the employee side of the tax cut (a total of a 3.1% tax cut, which functions as a 3.1% wage [...]

Senate Dems Provide Details on Smaller Payroll Tax Cut Package

By: Monday December 5, 2011 11:02 am

Harry Reid plans to announce new terms for the payroll tax cut today, but while the overall size of the tax cut will be lower, and a few concessions will be made to chase Republican support, the bill will still be partially paid for with a surtax on millionaires. The current payroll holiday, set to [...]

Senate Republicans Reject Their Own Payroll Tax Cut Bill

By: Friday December 2, 2011 6:59 am

The Senate got to their competing payroll tax cut plans late last night, and both the Democratic and Republican plans went down to defeat. But take a look at the roll calls, they tell a deeper story than just “both plans went down.” The Democratic version, with a wider tax cut financed by a 3.2% [...]

Republicans Release Payroll Tax Cut Package

By: Thursday December 1, 2011 6:18 am

Republicans unveiled their package for the payroll tax cut, and the suspicions were correct on the pay-fors. Responding to a plan by Senate Democrats to pay for the payroll tax holiday by enacting a surtax on wealthy individuals, Republicans outlined a counter-proposal that would extend the current two-year pay freeze for federal workers by an [...]

McConnell’s Positive Words on Extending Payroll Tax Cut Ignores a Host of Issues

By: Wednesday November 30, 2011 5:15 am

It looks like a blink. Senate Minority Leader Mitch McConnell told reporters yesterday that “I think at the end of the day there’s a lot of sentiment in our conference, clearly a majority sentiment, for continuing the payroll tax relief that we enacted a year ago in these tough times.” That was a clear endorsement [...]

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