Progressives have a lot at stake in “fiscal cliff” negotiations, including fair taxation for the wealthy, reasonable military spending and preserving the social safety net. With the daily back-and-forth, it can be confusing to keep track of all the details. Robert Reich boils it all down with these 8 principles to guide you through the […]
Last week, Laura Ingraham lashed out at Congressional Republicans who have indicated publically that they would be willing to waiver on their pledge to not raise taxes in the wake of President Barack Obama’s reelection. Ingraham warned that Congressional Republicans need to get concessions from their Democratic colleagues or face a devastating midterm election cycle […]
Yesterday, Republicans made their first post-election budget proposal. The outlines proposal would keep all the Bush tax cuts, but eliminate enough loopholes and deductions to apparently raise $800 billion in new revenue. But what does it all mean? Probably not very much.
Treasury Secretary Tim Geithner predicted on Meet the Press that congressional will accept Obama’s plan to raise income tax rates and limit deductions for individuals earning $200,000 and over. “I think we’re going to get there,” he told NBC’s David Gregory. Sec. Geithner went on to say that Republican leaders need to offer their alternative […]
Grover Norquist, founder and President of the lobbying group Americans for Tax Reform (ATR), famously came up with his notion of keeping politicians to a “no new taxes” pledge at the age of twelve while he was going door to door to get out the vote for President Nixon in 1968. By the time he […]