Tax Cuts For The Rich | featured news

Republicans weigh swallowing tax hike on the wealthy

While Republican leaders in the House of Representatives insist that raising tax rates on the rich is an impossibility, some Republican lawmakers now see it as inevitable to avoiding the "fiscal cliff" of severe tax hikes and spending cuts set to start January 1.


Editorial Board: Mr. Romney’s tax plan still doesn’t add up

The Tax Policy Center, analyzing that proposal, found that it would close only $1.3 trillion of Mr. Romney’s newly dug revenue hole. And no matter how many times the Romney campaign insists that independent studies “have demonstrated the Romney plan works,” that simply isn’t true — not with the parameters (revenue neutrality and no tax increases for those making less than $200,000) that Mr. Romney has set, and not unless you assume economic growth far greater than that predicted by Mr. Romney’s own advisers.


Redistributing wealth upward

Which is the more redistributionist of our two parties? In recent decades, as Republicans have devoted themselves with laser-like intensity to redistributing America’s wealth and income upward, the evidence suggests the answer is the GOP.


Romney’s class warfare

Now, at least, there can be no doubt about who is waging class warfare in this presidential campaign. Mitt Romney would pit the winners against the “victims,” the smug-and-rich against the down-on-their-luck, the wealthy tax avoiders against those too poor to owe income tax. He sees nearly half of all Americans as chumps who sit around waiting for a handout.


The Numbers Don't Lie-Why Lowering Taxes For The Rich No Longer Works To Grow The Economy

Ronald Reagan wearing cowboy hat at Rancho del Cielo. (Photo credit: Wikipedia) Since the arrival of President Ronald Wilson Reagan, it has become a matter of conservative orthodoxy that tax cuts for the rich will, inevitably, lead to economic prosperity.


Majority in U.S. say rich pay too little in taxes

As the income gap between rich and poor widens, a majority of Americans say the growing divide is bad for the country and believe that wealthy people are not paying enough in taxes, according to a new survey. The poll released Monday by the Pew Research Center points to a particular challenge for Republican presidential candidate Mitt Romney, whose party's policies are viewed by a wide majority as favoring the rich over the middle class and poor.


Analysis: Ryan takes aim at tax favors for rich - save a key break

Paul Ryan, the Republican candidate for vice president, says he wants to scuttle the tax breaks of America's rich, but he also proposes expanding one of the biggest breaks enjoyed by the wealthiest - the low tax rate on investment income.


Obama uses Bush tax cuts to bash GOP

Tax cuts that President George W. Bush signed in 2001 and 2003 are playing a major role in the election of 2012. They surface again today as the Democratic-run Senate holds a symbolic debate over President Obama's proposal to extend the Bush tax cuts only for middle-class Americans, not for the wealthy.


Bush Tax Cuts Extension Bill Would Be Vetoed By Obama

President Barack Obama would veto legislation that extends all of the Bush administration's tax cuts, including those for the middle class, White House Press Secretary Jay Carney said Monday. But top Republican aides said they don't buy it.


Bill Clinton 'very sorry' about tax remarks, agrees with Obama

Bill Clinton

Bill Clinton said Thursday that he's "very sorry" for comments he made days earlier that appeared to undermine President Obama's position on extending certain tax rates, chalking it up to a misunderstanding over when lawmakers needed to act ahead of a looming "fiscal cliff."


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