Taxes

Two Symbolic Tax Reform Plans from Obama and Romney

Barack Obama and Mitt Romney laid out competing frameworks for tax reform on Wednesday, competing to lay down political markers on a policy issue both parties where both parties want reform but where there is little chance to achieve Congressional compromise anytime soon. 

Romney Relents, Will Release Tax Records

After days of mounting pressure and a stinging loss to Newt Gingrich in South Carolina on Saturday night, Mitt Romney announced Sunday morning that he’ll be releasing his 2010 tax records and a estimate of 2011 figures for public scrutiny on Tuesday.

Why Mitt Romney’s Tax Rate Matters

Mitt Romney stammered on Monday night when debate moderators asked him whether he’d release his tax returns.  “I hadn’t planned on releasing tax records, because the law requires us to release all of our assets, all the things …

The Conservative Problem with 9-9-9

The 9-9-9 tax plan is not an insignificant part of Herman Cain’s appeal among Republicans–everyone knows the tax code is maddeningly complex and telling people they’re three little digits away from having their problems solved is bewitching. The main knock on the plan is that it would redistribute the tax burden so that it falls more …

GOP Reacts Cautiously to Democratic Millionaires’ Tax Plan

Democrats think they’ve found a great campaign issue for the 2012 elections—raising taxes on millionaires. And to judge by Republicans’ reactions, they may be right. “We agree with what the President said,” says Don Stewart, spokesman for Senate Republican leader Mitch McConnell. “You shouldn’t be raising taxes in a weak …

Obama’s Tax on the Big Bad Banks

Way back in January of 2010, during his short-lived “fat cat” bashing phase, Obama proposed a tax on the nation’s largest financial institutions with the stated intent of recouping taxpayer losses from the 2008 bank bailouts. Even by that point, the Troubled Asset Relief Program’s price tag was shaping up to be much lower than the …

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