I’m very leery of corporate tax reform, largely because I don’t think there are enough genuine loopholes on the business side of the tax code to finance a meaningful reduction in the corporate tax rate. That leads me to worry that politicians might try to “pay for” lower rates by forcing companies to overstate their income.
The Fiscal Cliff, the Sequester, and the Continuing Resolutions now are behind us. The next Episode in the Continuing Saga is looming: the Debt Ceiling. President Obama has put down his table ante...
Meet Rep. Kevin Brady (R-TX): the Six Trillion Dollar Man. Brady recently took the chair of Congress’s arguably most important inner think tank, the Joint Economic Committee. From this perch Brady is proposing to provide the combination to open the lock of a safe that holds $6 trillion in potential revenues for the federal government.
Senate Minority Leader Mitch McConnell tells us the tax issue is behind us and that we can now move on to spending. Really? What makes him think the GOP will succeed this time when it couldn't last time?
In the current debate over the lame duck deal, the focus seems to be solely on the issue of taxes. Raising rates or closing loopholes: which will it be? After all it’s essential that the federal government increase its revenues, right?
One of the big advantages that President Obama has, as he plays "chicken" with the Congressional Republicans along the "fiscal cliff," is that Obama is a master of the plausible lie, which will never be exposed by the mainstream media-- nor, apparently, by the Republicans.
Election, shmelection. When it comes to keeping the enterprise known as the United States of America solvent, aka avoiding the Fiscal Cliff, the country is right back where it was November 6, 2012.
Taken from page 109 of a CBO report, it shows what will happen if the economy grows just a tiny bit less than the baseline projection.
Can the GOP really be this stupid? It appears many in the GOP Congress are suddenly willing to raise taxes. What utter fools. As Forest Gump's mother (played by Sally Field) said, "Stupid is, as stupid does." And this is world-class stupid. If GOP politicians can't figure out any good arguments to oppose tax increases, I’ll give them a few.
WASHINGTON - If you thought the presidential election would lead to an early break in the fiscal gridlock that now divides our government, think again.