As Thrill noted, the so-called fiscal cliff was semi-averted last night. I didn’t pay too close attention to the debate since the basics of the deal had been hashed out days before. All we had last night was political theater. It’s true that 2/3 of the Republican House voted against it. But they allowed it to come to a vote and most voted after they were sure it would pass as an ass-covering maneuver. I’m … Read more
Tag Archive: Tax cut
With the fiscal cliff looming, Republicans are indicating some flexibility on taxes, at least for the higher income brackets. Naturally, this is generating some opposition:
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To start with, Kristol misunderstands the opponents of the tax increases on the rich, whose main goal is not to ensure that the rich get to keep more of their money. Their main goal is to prevent the federal government from obtaining a new source of revenue. Why might that
I’ve lost track of the number of stimulus bills our Congress has passed. There were two under Bush (mostly tax cuts), the big Obama spendathon and now two waves of payroll tax cuts:
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Two months after vowing to never give up the fight against President Obama’s payroll tax proposal, House Republicans decided Friday that they could not afford the battle any more.
Large bipartisan coalitions in both the House and Senate passed a $143
The NYT ran this graph yesterday, showing the cause of the debt we have and our piling up this century.
A number of thoughts:
First, several policies are placed entirely in the Bush column that should really be shared. Barack Obama owns the wars and the tax cuts now, having continued both. Obama supported TARP and has only expanded Medicare D.
I do think it’s a good illustration of which policies are driving the debt… Read more
RealClearPolitics has a very interesting, albeit disappointing to me, article about politicians, the public, the debt crisis, and how the participants of this study feel it needs to be solved. As usual, what we have here is a debate between what the left thinks the public wants and what the right does, as the article starts off discussing. What’s obvious to me from the study that the article is based on is the fact … Read more