Updates / Tax

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By / 6.27.2013

According to an article in Politico, Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) are releasing a letter to their colleagues to inform them that the Committee will adopt the approach of the Simpson-Bowles Commission’s “Zero Plan”.  Under the “Zero Plan,” lawmakers eliminate all individual and corporate tax expenditures and reduce […]

By / 2.13.2013

President Obama got off on the right foot in last night’s State of the Union address by putting America’s economic revival at the center of his second-term agenda. That was reassuring, since his second inaugural strangely neglected this crucial subject. There’s no more urgent national challenge than building new economic foundations for shared prosperity. More […]

By / 1.4.2013

By all accounts, the recently passed tax deal averting the “fiscal cliff” was a big win for the American people. Among other things, the agreement preserves the full package of Bush-era tax cuts for the middle class and raises rates only on the wealthiest Americans. It also permanently patches the Alternative Minimum Tax so it […]

Writing for the Daily Beast, Will Marshall argues that Obama is in a strong position to challenge the new Congress to pass a fiscal grand bargain early in 2013: The fiscal cliff deal finally passed by the House Tuesday night isn’t likely to lift the public’s rock-bottom esteem for the nation’s elected leaders. It took […]

By / 12.21.2012

Most of us would be lost without our cell phones, tablets, and other wireless devices.  We rely on them so much it’s hard to imagine how we could function without 24 hour access to Twitter, Facebook, and email. That means we are willing to pay up each month – for the service connection charge, one-size-fits-all […]

Writing for The Wall Street Journal, PPI President Will Marshall explains why Obama should show some flexibility now and set the stage for a more comprehensive tax overhaul in 2013: Barack Obama is under pressure from his left flank to break House Republicans on the wheel of higher marginal tax rates, but he is showing […]

By / 8.16.2012

As the presidential candidates debate the fate of Medicare, it’s worth noting a very simple fact: Mitt Romney paid only 0.07% of his income in Medicare taxes in 2010. By comparison, the typical American worker paid 1.45% of his or her income in Medicare taxes plus an equal amount paid by the employer. In other […]

By / 1.5.2012

This article is part of a a series of international responses to Policy Network‘s discussion paper In the black Labour: Why fiscal conservatism and social justice go hand-in-hand. To most Americans, fiscal responsibility is a question of political morality. If Democrats allow the debate to be framed as a choice between more deficit spending and […]

By / 12.13.2011

The official failure of the congressional “supercommittee” came and went without much hand-wringing in Wingnut World; indeed, the prevailing sentiment was quiet satisfaction that Republicans had not “caved” by accepting tax increases as part of any deficit reduction package. It was all a reminder that most conservative activists are not, as advertised, obsessed with reducing […]

By / 12.13.2011

The end of the calendar year always means an assortment of “temporary” policies are approaching expiration, including some (e.g., upward revision of reimbursement rates for Medicare providers, and a “patch” to avoid imposition of the Alternative Minimum Tax on new classes of taxpayers) that happen every year. And then there are other expiring provisions central […]