Bush tax cuts

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Hasn't the GOP Already Won Here?

 Hasn't the 
 GOP Already 
 Won Here? 

Hasn't the GOP Already Won Here?

Republicans can declare victory on fiscal cliff talks: Gerald Seib

(Newser) - Republicans have been too busy fretting over their concessions on the fiscal cliff to stop and do one thing: declare victory, writes Gerald Seib at the Wall Street Journal . Headlines over top-tier tax rates have obscured the fact that at least 98% of Bush tax cuts will remain—a major...

Fiscal Cliff Deal Coming Together

But Obama, Boehner still haggling over numbers

(Newser) - President Obama made a fresh offer on the fiscal crisis to John Boehner yesterday and while it was rejected, the two sides are now so close together that it is no longer inconceivable that a deal to avert the cliff could be wrapped up by Christmas. The rundown:
  • The Obama

Boehner: I'll Tax the Rich —if Obama Budges Too

House speaker concedes on taxes for the first time

(Newser) - John Boehner inched toward President Obama's position in fiscal cliff talks by offering to increase taxes on the richest Americans—his first concession on marginal tax rates. That would affect at least those earning $1 million or more, sources tell Politico . In return Boehner wants to curb the growth...

Santa Accosts 'Naughty' Paul Ryan

Kris Kringle wants tax cuts for middle class only

(Newser) - Santa Claus is, according to voters, a Democrat —so is it any surprise Paul Ryan is on his naughty list? "Santa," aka an activist from TheAction.org, ambushed Paul Ryan on the Capitol Hill steps recently to let him know that if he doesn't support an...

How Republicans Can Avert the Fiscal Cliff
 How Republicans 
 Can Avert the 
 Fiscal Cliff 
david brooks

How Republicans Can Avert the Fiscal Cliff

Ending tax cuts for richest could ultimately benefit GOP: David Brooks

(Newser) - It's time for Republicans to face it: The Bush tax cuts on the richest Americans will have to end. If the "fiscal cliff" isn't avoided, the GOP will get the blame , and leaders in both business and national security will be furious. So they should accept an...

Pelosi to Try to Force Vote on Bush Tax Cuts

Boehner takes GOP 'fiscal cliff' case to the press

(Newser) - Nancy Pelosi will file a motion today to force a vote on Bush-era tax cuts, her office says. The House minority leader's "discharge petition" would aim for a vote this month on extending the cuts for those earning less than $250,000, while ending them for those earning...

GOP Considers 'Doomsday' Fiscal Cliff Plan

Meanwhile, Pelosi planning her own end-run

(Newser) - With fiscal cliff negotiations going, in John Boehner's words, "nowhere," Republicans are considering what ABC News correspondent Jon Karl calls a "doomsday" contingency plan. Under the plan—which Karl's sources say "is becoming the most likely scenario"—the House would approve extending the...

Grand Bargain Is Impossible, Dangerous

Matthew Yglesias on the inanity of the fiscal cliff talks

(Newser) - Back during the Bush years, the faction in Congress advocating a "grand bargain" on America's long-term budget deficit was "an amusing curiosity," writes Matthew Yglesias over at Slate . But with the fiscal cliff looming, "they've become actively dangerous." The only way to avoid...

On Fiscal Cliff, Dems and GOP Closer Than They Look

But mortgage interest deduction might be a casualty

(Newser) - Depending on who you ask, the fiscal cliff confrontation in Washington is either a massive standoff, or a massive mirage. "It is not going to happen soon," John Barrasso, the Senate's fourth-ranking Republican said yesterday. But top officials tell Politico that behind the scenes John Boehner and...

At Fiscal Cliff, a Debt Ceiling Showdown Now Looms

Fiscal cliff debate roaring through Washington

(Newser) - Wrangling at the edge of the fiscal cliff is the main event in Washington right now, and the stakes might be even higher than most people realize. At President Obama's first meeting with John Boehner, he asked him to raise the debt ceiling before the end of the year,...

We Need a Minimum Tax on Über Rich

 We Need a 
 Minimum Tax 
 on Über Rich 
warren buffett

We Need a Minimum Tax on Über Rich

Warren Buffett: Taxes won't deter wealthy investors

(Newser) - Warren Buffett is taking another stand in the tax debate. In a New York Times op-ed this morning, the Berkshire Hathaway boss calls on Congress to establish a minimum tax on the richest Americans, "right now." His proposal: "30% of taxable income between $1 million and $10...

Forget the 'Grand Bargain'
 Forget the 'Grand Bargain' 
Paul Krugman

Forget the 'Grand Bargain'

Paul Krugman doesn't think it's time for Obama to give in to GOP blackmail

(Newser) - Republicans still hold the House (even though Democrats appear to have gotten more votes in this election), so everyone is now wondering how far the triumphant President Obama should go to placate them and avoid the fiscal cliff. "My answer is, not far at all," writes Paul Krugman...

We're Already Feeling the Fiscal Cliff
 We're Already 
 Feeling the 
 Fiscal Cliff 
new report

We're Already Feeling the Fiscal Cliff

Report says threat has cost US 1M jobs this year

(Newser) - We're not supposed to go over the "fiscal cliff"—an array of budget cuts and tax hikes that could cut $500 billion out of the economy—until January. But the US is already feeling the effects of the impending budget uncertainty, a report by the National Association...

Romney's Real Foe: This Guy
 Romney's Real Foe: This Guy 
Ezra Klein

Romney's Real Foe: This Guy

Ezra Klein: His policies are depressingly similar to George Bush's

(Newser) - Romney's biggest problem this election season isn't Barack Obama; it's George W. Bush, argues Ezra Klein at Bloomberg . It's Bush, not Obama, "who has made voters skeptical of many of Romney's core policies." Yet when asked directly how he contrasted with Bush at...

The Payroll Tax Cut Is Doomed
 The Payroll Tax Cut Is Doomed 

The Payroll Tax Cut Is Doomed

No matter who wins in November

(Newser) - No matter who wins in November, your taxes are probably going up next year. That's because Congress has basically no interest in extending the payroll tax holiday that was so hotly contested earlier this year, the New York Times reports. Negotiators are fixated on the so-called "fiscal cliff,...

CBO: 'Fiscal Cliff' Could Trigger New Recession

Growth would decrease 0.5%, new report concludes

(Newser) - Don't expect a gentle fall if the US goes over the so-called "fiscal cliff." The Congressional Budget Office has concluded in a report today that if Congress doesn't do something about the impending round of tax hikes and spending cuts, US growth will plunge back into...

House Votes to Extend Bush Tax Cuts for All

Symbolic move certain to die in Senate

(Newser) - Congressional leaders have launched more partisan back-and-forth on the way to the edge of the fiscal cliff. The House, voting largely along party lines, has approved a one-year extension of all the Bush tax cuts due to expire in January, reports the New York Times . The plan passed 256-171, with...

Senate Democrats Pass Bill to Cut Middle-Class Taxes

Symbolic move isn't going anywhere in the House

(Newser) - Senate Democrats got to make an election-year statement today: They passed a bill that would extend the Bush tax cuts for the middle class but let them expire for the richest Americans, reports the Hill . The prospects in the House, where Republicans want to extend the tax cuts for the...

White House: Stubborn GOP Will Cost You $1,600

Democrats, Republicans trade tax cut barbs

(Newser) - In its ongoing effort to extend the Bush tax cuts for (and only for) the bottom 98% of households, the White House today released a report calculating that the average family making less than $250,000 a year would see their taxes go up $1,600 if a deal isn'...

Tax the Rich: Popular in Theory, Not Practice

Republicans manage to fool most voters: Steve Kornacki

(Newser) - Raising taxes on the rich is a popular idea, always performing well when people are polled about it. So why is it so hard to actually put into practice? Because most people don't understand what's actually going on, and the Republicans are to blame for that, explains Steve...

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