The President's proposal establishes a new front in the rhetorical battle to frame the deficit debate
Taxes
How the Debt Deal Sets Up Washington for a Bitter Tax Fight
Now that a compromise has been reached to raise the debt limit, there is a good chance that the political climate in Washington is going to get worse. And the reason can be found on Page 49 of the bill that President Obama signed into law on Tuesday: “On January 2, 2013, for fiscal year 2013, OMB shall calculate and the President shall …
Grover Norquist Hedges His Pledge, Gives GOP an Opening on Tax Increases
My dictionary defines “pledge” as a “solemn binding promise to do, give or refrain from doing something.” That same dictionary defines “position” as “a point of view or attitude on a certain question.” The difference is huge: One can change a position with minimal consequence to one’s integrity. But one violates a pledge.
Grover …
Boehner Gives Obama a Gas Tax Break
With gas prices soaring Obama could face trouble in 2012. But in the near term, Obama may be able console himself with a minor silver lining: House Speaker John Boehner’s surprise willingness to contemplate cutting one tax break given to big oil companies in the U.S.
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The Socialist Threat: Tax Day Edition
What Does Rep. Ryan’s Plan Say About Taxes?
If the votes could ever be found to pass it, Paul Ryan’s $4.4 trillion deficit cutting plan would affect the life of every American. But no proposal in Ryan’s massive overhaul of federal spending would be as quickly felt as taxes.
In short: he cuts rates dramatically, while ending exemptions to keep the overall package revenue …
Arizona’s Flab Tax
Republican Gov. Jan Brewer, as part of a broader package to reduce costs of Medicaid in Arizona, is proposing an annual $50 charge for patients who are obese. The Wall Street Journal called this a “Fat Fee,” though it could go by many other names: Corpulence Cost, Plumpness Payment, Overweight Outlay, Stoutness Setback, Big-Bottom …
A Grand Bargain? You Show Me Yours…
Showing a little leg on deficit reduction is a highly risky proposition these days: display the scantest hint of skin and you risk losing a limb. The ink was still drying on the final edition of the Wall Street Journal‘s Thursday story detailing a grand bipartisan plan for deficit reduction when the angry missives began. Grover Norquist …
Tax Reform and the Revenue Problem
Perhaps the best hope for long-term deficit reduction currently on the table is a bipartisan plan being crafted in the Senate. It’s roughly based on the proposal presented by the President’s deficit commission last year and would include discretionary spending cuts, Medicare/Medicaid reform, changes to Social Security and an overhaul of …
Morning Must Reads: Budget Day
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–The Obama administration released its FY 2012 budget proposal today. As Jay explains, it’s really the opening bid in a back-and-forth between the White House and House Republicans that will last for months., You can read it here at 10:30 a.m. ET. Of the $1.1 trillion in …
The Four Pieces of the Great Spending Debate
Starting this week deficits and spending will take center stage in Washington. And barring a total meltdown in the Middle East, they will hog the stage for the next three months. The stakes are high. Odds of a government shutdown are getting better as are the chances the U.S. could default on its debt. Odds that President Obama will …
Obama Hopes to Hand Leaky States a Bail
President Obama’s upcoming budget proposal for fiscal year 2012 is expected to have some nips and tucks — a federal pay freeze, non-defense discretionary spending freeze, an earmark ban — but it’s not going to be unadulterated austerity. One area where the White House continues to show willingness to spend is aid to states struggling …
The GOP’s Two-Headed SOTU Response
House Budget Committee Chairman Paul Ryan did an admirable job rebutting President Obama’s state of the union speech tonight. As Republicans with more stature have learned the hard way, ahem Bobby Jindal, answering the President’s hour-long speech in under 15 minutes can be tough. But the Wisconsin Republican’s biggest competition
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