tax cuts

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So What Exactly Is in the Tax Deal?

Republicans, Obama agree to payroll tax holiday, middle class breaks

(Newser) - The tax cut deal President Obama struck with Republicans yesterday is far more sweeping than lawmakers on either side of the aisle were expecting, and aside from extending the Bush tax cuts across the board, here's the lowdown, as per the Washington Post:
  • Inheritance tax: After a year's lapse, individual
...

Obama, GOP Cut Deal, Extend All Tax Cuts
Obama, GOP Cut Deal,
Extend All Tax Cuts
UPDATED
Dec 6, 2010 6:18 PM CST

Obama, GOP Cut Deal, Extend All Tax Cuts

President tacks on jobless benefits, 1-year Social Security tax reduction

(Newser) - Brushing past Democratic opposition, President Obama tonight announced agreement with Republicans to extend expiring tax cuts for all Americans, renew jobless benefits, and grant a one-year reduction in Social Security taxes for millions. The agreement also includes tax breaks for businesses that the president said would contribute to the economy's...

Obama Signals Compromise on Bush Tax Cuts

President looks ready to extend all in order to spare middle class

(Newser) - Faced with the prospect of no deal on the Bush tax cuts resulting in a middle-class tax hike on Jan. 1, President Obama is signaling a willingness to extend them across the board, reports USA Today. "We've got to find consensus here even if it's not 100% of what...

Tax Cut Deal May Hinge on House Democrats
Tax Cut Deal May Hinge on House Democrats
analysis
Dec 6, 2010 11:11 AM CST

Tax Cut Deal May Hinge on House Democrats

Biden, Pelosi gear up to fight for Obama-GOP plan

(Newser) - As President Obama and GOP senators iron out a deal on extending the Bush tax cuts, the real fight will be in the House, writes Howard Fineman at the Huffington Post . The Senate's version will have to circle back to the House for approval, and even if all House Republicans...

Wall Street May Dish Out Bonuses Early to Avoid Taxes

Executives could lose tens of thousands if paid early next year

(Newser) - Wall Street is worried: If Congress fails to extend the Bush tax cuts for the nation’s highest earners, then any bonuses paid early next year—the normal time frame—will cost a typical worker an extra $40,000 to $50,000 in taxes on a $1 million bonus. So...

So, What Else Could We Get for $60B?
 So, What Else Could 
 We Get for $60B? 
tax cut analysis
Dec 5, 2010 3:32 PM CST

So, What Else Could We Get for $60B?

Tax cuts for high earners will cost us

(Newser) - Congress appears to be on the verge of extending the Bush tax cuts on income above $250,000 a year, which will cost the US $60 billion a year, writes David Leonhardt in the New York Times . What else could that amount of money buy?
  • It could reduce the deficit
...

Obama, GOP Hold Hushed Tax-Cut Talks

President calls for speedy renewal of jobless benefits

(Newser) - Could the president and GOP lawmakers be inching toward compromise ? Working against the clock, Obama and congressional Republicans have been holding behind-the-scenes talks about extending tax cuts—due to expire at year’s end—and renewing expired emergency jobless benefits, and they're making slow and steady progress on the...

Tax Cut Showdown: Dems' Two Options

Must win centrists as Bush cuts expire

(Newser) - When it comes to tax cuts, the Democrats’ options are few. Politically speaking, it’s too late to force the expiration of Bush cuts on those earning more than $250,000. But Dems have two notable choices, writes David Leonhardt in the New York Times : one, to let the Bush...

Obama, GOP Will Keep Working on Tax-Cut Deal

They hope to reach compromise on Bush cuts by year's end

(Newser) - Reaching no quick fixes, President Obama and Republican leaders in Congress today vowed to seek a compromise on tax cuts before year's end. "The American people did not vote for gridlock," Obama said following the session. There was no consensus on whether to keep Bush-era tax cuts in...

Warren Buffett: Rich Sons Not Coming Home in Body Bags

He continues crusade for higher taxes

(Newser) - Warren Buffett continued his plea that the rich be taxed more—but he went a bit further today than he did last week . “There's no sacrifice among the rich,” he told ABC’s This Week, according to Politico . “There's plenty of sacrifice going on now. I mean,...

White House Caves, Will Extend Bush Tax Cuts

But Axelrod says Obama will veto any health care threat

(Newser) - Any Republican attempt to repeal health care reform legislation won't make it past President Obama's veto pen, top adviser David Axelrod tells the Huffington Post. The president is willing to give ground in other areas and is prepared to accept an across-the-board continuation of Bush-era tax cuts even for the...

Obama 'Open' to Tax-Cut Compromise

President may be willing to give ground after midterm losses

(Newser) - In what promises to be an, ahem, interesting dinner party, President Obama will meet with both sides of the aisle at a Nov. 18 White House dinner—during which tax cuts will be at the top of the agenda. What's more, the White House may be willing to compromise in...

Warren Buffett: Cut Taxes, But Not for the Rich

Billionaire slams tax system, Wall Street 'casino' pay

(Newser) - Finance wiz Warren Buffett believes taxes should be cut—but not for him or other wealthy Americans. The 80-year-old investor, speaking at the Most Powerful Women summit in Washington, said it's absurd how he pays the lowest rate of tax of anybody in his office, including the cleaning lady, CNN...

Limbaugh: Obama Is an 'Imam-Child'

Shaving top tax cuts turns Rush apoplectic over 'economic ignoramus'

(Newser) - Right-wing trumpet Rush Limbaugh absolutely tore into President Obama yesterday, calling the commander in chief a "jackass," an "economic ignoramus," and an "idiot," over his support for extending the Bush tax credits to all but the top 2%. Obama said at a speech before...

McConnell: Freeze All Tax Rates


 McConnell: 
 Freeze All 
 Tax Rates 
NEVER MIND THAT JOHN BOEHNER
Sep 13, 2010 6:56 PM CDT

McConnell: Freeze All Tax Rates

Says Americans have 'had it' with Dems' '2-year adventure in expanded gov't'

(Newser) - John Boehner might vote to extend middle-class tax cuts while letting those on the top 2% expire, but Mitch McConnell wants them frozen—across the board, no ifs, ands, or buts. Saying Americans have "had it" with Dems' "fiscal recklessness," the Senate majority leader today introduced legislation...

Tax Cuts: Good for Politicians, Not Economy

There are better ways to go, but no one wants another stimulus

(Newser) - “Tax cuts” is a phrase politicians love, especially in election season—but they may not do the economy much good at all. Those in favor of extending the Bush tax cuts (Republicans and a few Democrats) argue that ending the tax cuts, thus increasing taxes, for anyone—even the...

Obama to Democrats: Let the Bush Tax Cuts Expire

But he won't veto a compromise that extends them

(Newser) - President Obama intends to take a clear stand against extending the Bush tax cuts for the top 2% of earners in a speech today, sending a message to Congressional Democrats who are leaning toward a compromise with Republicans. Obama won’t actually threaten to veto a bill that extends the...

Be Wary of Cash-for-Clunkers-o-Nomics
Be Wary of
Cash-for-Clunkers-o-Nomics
opinion
Sep 7, 2010 12:49 PM CDT

Be Wary of Cash-for-Clunkers-o-Nomics

Demand for new equipment will spike, then collapse

(Newser) - So President Obama is going to give businesses a break by letting them write off 100% of the cost of new equipment and plants. Welcome to "cash-for-clunkers-o-nomics," writes Joe Weisenthal at Business Insider . In a tepid economy, probably the only companies that take advantage will be those that...

Democrats to Fight to Keep Tax Cuts for Rich

Small but growing group backing away

(Newser) - All those fears about Obama raising income taxes on the rich may prove unfounded, if a small but growing group of moderate Democrats gets its way. Whether they're nervous about facing tax-hating constituents, hail from areas teeming with rich taxpayers, or just don't want to be seen as boosting taxes...

Geithner to World: Relax, We're Raising Taxes

Axing the Bush tax cuts is just the start

(Newser) - Tim Geithner said something pretty interesting about the Bush tax cuts in his speech yesterday at the Center for American Progress. The Treasury secretary explained why the administration was letting the tax cuts for the wealthiest 2% of Americans expire now. “The world is likely to view any temporary...

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