Tax Cuts // Current TV

Fiscal Cliff Countdown : Unchain Us, Senator Reid, From Chained CPI

On Friday I wrote that a fiscal cliff deal that would appeal to enough GOP House and... more

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The Republican’s Debt and Deficit Blackmail | The Pragmatic Pundit

Republicans have been using debt and deficit blackmail as a bargaining strategy since... more

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Alan Simpson Hopes Grover Norquist Drowns in a Bathtub (VIDEO)

When asked about Grover Norquist, things took a turn for the hysterical. Speaking... more

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Post-election Blues & FISTcal Cliffs

Elections are indeed political one night stands. And Americans are now waiting for... more

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How Tax Shelters Bleed America Dry

Recent reports estimate that the rich are hiding at least $21 trillion and possibly as... more

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Republicans Use Clinton Comments To Push For Extension Of Bush Tax Cuts

The Financial Times reports House Republican leaders are capitalizing on ex-President... more

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Repost From February 2009 - "Is The GOP Actively Courting A Depression?"

Was the Civil War a Pyrrhic victory?

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What Austerity Means and Why it Threatens the World Economy

In spite of lessons learned from history, and a growing chorus of warnings from... more

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Iowa Republican: ‘Buffett rule’ proof Obama doesn’t ‘love this country’

By David Ferguson Saturday, April 21, 2012 14:21 EDT And now, Gentle Readers,... more

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What Romney Stands For - Anti American Pro Wall Street Plutocracy

It's time to take a serious look at what Mitt Romney really stands for. These are some of the important things to consider.

1. Romney's positions are the most radically anti-women of any candidate in a generation: He supports banning all abortions, backed a so-called "personhood" amendment that could make certain forms of birth control illegal, and says he would "get rid of" federal funding for Planned Parenthood that provides preventive services like cancer screenings for millions of women.

2. Romney would repeal Obamacare. Insurance companies would once again be allowed to run up premiums, unjustifiably deny coverage for pre-existing conditions, drop patients when they get sick, discriminate against women by charging them more for coverage than men, and spend more of your premium dollars on CEO profits and bonuses instead of your actual health care.

3. Romney is a risk when it comes to foreign policy and national security. On many of these questions, he has shifted his position for political reasons, even within the same campaign. His only clear commitment is to endless wars: He has no plan to end the war in Afghanistan and would leave our troops there indefinitely. He called the President's decision to bring our troops home from Iraq by last Christmas "tragic."

4. Despite the lessons of recent history, Romney would double down on the disastrous tax policies that handed windfalls to the wealthy, but stacked the deck against the middle class. Under Romney, millionaires and billionaires would get a $250,000 tax cut, while families with kids making less than $40,000 a year would, on average, actually see their taxes go up. To the surprise of no one, Romney also opposes the Buffett Rule. He would allow millionaires to continue to take advantage of loopholes and special deals that often allow them to pay a lower tax rate than the middle class. And he supports tax breaks for companies that ship jobs overseas.

5. Romney would end Medicare as we know it -- replacing it with a voucher scheme that would drive profits for insurance companies by forcing seniors to purchase private insurance, paying whatever costs a voucher wouldn't cover out of their own limited budgets.It's time to take a serious look at what Mitt Romney really stands for. These are... more

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Ryan promises to close tax loopholes, but won't say which

By Sahil Kapur / Talking Points Memo Appearing on two Sunday talk shows, the... more

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Santorum: ‘Higher-income people don’t have to pay taxes’

By David Edwards
Monday, March 5, 2012 13:19 EST

Republican presidential Rick Santorum is advising President Barack Obama not to raise taxes on the wealthiest 1 percent of Americans because “higher-income people don’t have to pay taxes if they don’t want to.”

“Once we defeat Barack Obama this economy will start turning around,” the former Pennsylvania senator told a crowd in Miamisburg, Ohio. “Because you’ll know you have someone in there who’s going to unshackle businesses, reduce rates, not increase them. The president’s promised increased taxes if he’s re-elected.”

“All he wants to do to solve the deficit problem is increase taxes on people, particularly higher-income people,” Santorum continued. “You see, that sounds very populist. Go after the 1 percent. It’s interesting because the British just did this. They went after the 1 percent in Britain. They dramatically increased taxes on the highest-income Brits. And guess what? It failed.”

“What happened? Well, higher-income people don’t have to pay taxes if they don’t want to because they can move their money somewhere else, they can move their investments. They can stop investing. They can stop working. They don’t need to work. They’re higher-income people.”

DeAnne Julius, the former chairwoman of Chatham House in London, has explained that Britain’s 50 percent marginal tax rate on high-income earners should not be compared to 35 percent rate imposed on wealthiest Americans, who can take advantage of loopholes in the U.S. tax system.

“[R]elative to other countries, the U.K.’s 50 percent tax rate for high earners is uncompetitive, while the U.S. top rate of 35 percent is still highly competitive,” Julius wrote in an October 2011 op-ed for The New York Times.

“These factors led 20 British economists to warn that the 50 percent top tax rate is doing lasting damage to the British economy and is unlikely to raise much if any additional revenue,” she added. “However, these factors do not apply to the United States, where the current tax regime allows many high earners to escape paying even their proportional share of taxes and where both average and marginal tax rates are low by international standards.”

http://www.rawstory.com/rs/2012/03/05/santorum-higher-income-people-dont-have-to-pay-taxes/

Watch this video from CNN, broadcast March. 5, 2012.

"Man this Guy is a Friggen' IDIOT!!!!"By David Edwards Monday, March 5, 2012 13:19 EST Republican presidential Rick... more

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Harry Reid Issues Warning to GOP over Payroll Tax Extension

The bi-partisan Senate-House committee currently negotiating terms for an extension... more

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Sen. Bernie Sanders: Congress works very well for the top 1 percent

By Eric W. Dolan Thursday, December 22, 2011 Sen. Bernie Sanders (I-VT) on... more

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Obama showcases real-world cost of letting payroll tax cut expire

By Peter Nicholas, LA Times With most lawmakers gone for the holidays, President... more

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House GOP Refuses to Allow Dem Whip to Speak on Floor & Offer Senate Compromise

Do you need more proof than this that Republicans are full of it? This morning,... more

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Christie: My job is tougher than Obama’s

By Andrew Jones Tuesday, December 20, 2011 Despite inheriting a recession, two... more

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Worldwide Hippies News Briefs Thursday

Census shows 1 in 2 people are poor or low-income Democrats abandoning millionaire... more

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Worldwide Hippies News Briefs Wednesday

US urges ban on texting, talking while driving Dead woman found at warehouse of... more

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Occupy Spokane marches into Riverpark Square and sings Christmas carols occupy style.

Occupy Spokane marches into Riverpark Square and sings Christmas carols occupy style.... more

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