tax cuts

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Dems May Block Record $3T Bush Budget 'Til Next Prez

Mammoth budget combines tax cuts with huge security spending hikes

(Newser) - President Bush today introduces a record $3 trillion budget into opposition from congressional Democrats so fierce that they could hold up the spending plan until the next president takes office, reports AP. Bush's plan envisions at least $400 billion in deficits this year and next, twice 2007's $163 billion debt....

Bush Legacy of Debt May Stymie Successor

He will unveil record $3T budget as deficit soars

(Newser) - The next president may inherit a US government so deeply in debt it could lose its Triple-A credit rating for the first time since Moody's Investors Service began grading securities 90 years ago, warns the Wall Street Journal. The White House is preparing to unveil a record $3 trillion budget...

McCain, Romney Spar in California Debate

Former Mass. governor questions front-runner's conservative credentials

(Newser) - Mitt Romney took aim at John McCain's conservative credentials at a debate in California tonight, looking for a chink in the front-runner's armor less than a week before Super Tuesday, the AP reports. McCain, endorsed by Rudy Giuliani hours earlier, shrugged off the attack. The two also sparred on Iraq,...

Senate Pushes for Add-Ons to Stimulus Bill

20 million seniors could still be left out of final bill

(Newser) - Senators are balking at yesterday's pleas from President Bush for speedy action on the economic stimulus bill, planning substantial additions and changes, reports the Washington Post.  Proposed additions include $12.5 billion in unemployment benefits, $5 billion in food stamps. and $800 million for winter heating for the poor....

Giuliani Goes for Broke in Fla.
Giuliani Goes
for Broke
in Fla.
Jan 18, 2008 4:45 PM CST

Giuliani Goes for Broke in Fla.

In run-up to must-win primary, GOP hopeful maxes out time, money

(Newser) - Rudy Giuliani has put every penny toward victory in Florida, hoping to build a dam that rising waters can’t breach. Come Jan. 29, says his campaign chairman, “we'll be the smartest guys in America or the dumbest guys in America.” Giuliani’s been to Florida nearly 30...

Bernanke Backs Stimulus Plans for Economy

Fed chief wants aid package that's quick and temporary

(Newser) - Ben Bernanke insists he won’t take sides in a congressional fray over how to revive the nation’s flat-lining economy. But the Fed chief says he will support an economic stimulus package—be it GOP tax cuts or Democrats' increased spending—as long as it is quick and temporary,...

Huckabee Plan Is Catnip to Tax-Phobes
Huckabee Plan Is Catnip to Tax-Phobes
OPINION
Jan 8, 2008 4:07 PM CST

Huckabee Plan Is Catnip to Tax-Phobes

But the 'fair tax,' a gift to the rich, perplexes nearly everyone

(Newser) - “Our tax system can’t be fixed with WD-40 and duct tape,” proclaims Mike Huckabee in promoting a more radical change—the 'fair tax,' which stirs taxpayer rebellion even while inciting economist ire, Politico reports. The plan, which would replace the IRS with a uniform 23% sales...

Tax Issues Loom Over Campaign
Tax Issues Loom Over Campaign
Jan 5, 2008 9:44 AM CST

Tax Issues Loom Over Campaign

Candidates offer differing views on 'fair tax,' extending Bush cuts

(Newser) - With President Bush’s tax cuts set to expire in 2010, tax reform could become a key issue in this year’s presidential race, the Christian Science Monitor reports. Most Republican candidates favor extending the cuts, though Mike Huckabee and Ron Paul support eliminating income tax altogether. The Democratic candidates...

Looming Tax Bill to Test Dem Loyalties

Bill to help middle class hurts their hedge-fund backers

(Newser) - A bill to give tax breaks to middle- and low-income people by closing loopholes that keep equity executives’ tax rates low is set for a vote this week in Congress, the Washington Post reports, forcing Democrats to choose between standing up for the common man and protecting the hedge-fund managers...

Buffett: I Should Pay More Taxes
Buffett: I Should Pay More Taxes
Oct 31, 2007 10:41 AM CDT

Buffett: I Should Pay More Taxes

'Oracle of Omaha' says scales have tipped toward the rich

(Newser) - America’s second-richest man, Warren Buffett, stood up for the little guy last night, telling NBC that he and über-wealthy people like him should pay more taxes. The system has dramatically “tilted toward the rich and away from the middle class,” he said. Surveying his office, Buffett...

Rangel Floats Sweeping Tax Reform Bill

Rolls back Bush cuts for wealthy; unlikely to advance soon

(Newser) - A Democratic bill unveiled today would dramatically alter the tax code, hiking taxes for those making more than $200,000 and slashing them for most others. The overhaul, which would effectively roll back Bush’s cuts for the wealthy, isn’t expected to get any traction until the White House...

Dems' New Deal Can't Be Same as Old Deal

Financial crisis calls for tough choices, says Prospect editor

(Newser) - If current market turbulence becomes a full-blown recession, a Democratic president would need revolutionary changes to solve America’s financial troubles, writes American Prospect editor Robert Kuttner. "In the short run, a faltering economy is a political windfall for Democrats," he contends, but pointing fingers at the GOP...

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