Barring some last minute deal it seems America is going over the “fiscal cliff.” Which given the perverted incentives of Washington may be just what some people are longing for.
|By: DSWright Friday December 28, 2012 12:15 pm|
|By: David Dayen Sunday December 16, 2012 11:50 am|
House Speaker John Boehner’s latest offer sheet to the President in the fiscal slope negotiations includes an increase in tax rates on people earning $1 million a year, the first time that the Republican leader has proposed any tax rate hike. The White House, seeking rises on tax rates above $250,000, rejected the offer.
Boehner didn’t solely offer the millionaire’s bracket, he also wants social insurance cuts in exchange.
|By: David Dayen Wednesday December 5, 2012 1:49 pm|
Some skullduggery on the Senate floor today.
|By: David Dayen Wednesday December 5, 2012 8:55 am|
We talked about the Republicans’ doomsday plan, where they would pass the extension of the Bush tax cuts on the first $250,000 of income, allow the cut to tax rates above that to expire, and live to fight another day with more leverage. With talks at an impasse, and the President more aggressive specifically on the tax rates issue, this looks to be the emerging reality for the Republicans.
|By: David Dayen Thursday November 29, 2012 4:48 pm|
In the context of doing a deficit reduction deal at all, this is an extremely strong bid that Tim Geithner delivered to John Boehner today. Now we know why Boehner whined and cried all afternoon.
Let’s walk through it.
|By: David Dayen Tuesday August 28, 2012 1:00 pm|
Try as they might to shift to the economy, something always gets in the way for the Romney campaign. In this case, it’s the actions of Mitt Romney throughout his life to wall off his fortune from the Internal Revenue Service and ensure a continuing Romney aristocracy for the next generation.
|By: David Dayen Friday July 27, 2012 11:36 am|
One problem with talking about the “Bush tax cuts” is that they incorporate much more than just the individual income tax marginal rates. Among other things, you have the changes to the estate tax. And so today, House Democrats plan to introduce an estate tax measure that would freeze the tax at 2009 levels.
|By: David Dayen Saturday July 21, 2012 5:00 pm|
In a move that really tells you who runs Washington, Senate Democrats backed down on a portion of their tax package, one that they already know won’t pass into law after it comes up for a vote next week. Despite this, instead of putting forward a tax package that conforms with what they presume to project as their values, they decided to swap out the estate tax portion, because they couldn’t get enough of their own members to agree to the plan with it in there
|By: David Dayen Thursday July 19, 2012 6:20 pm|
$28 billion. That’s the difference, in 2013, between the Democratic and Republican tax plans on the Bush tax cuts, which shows the narrowness of the debate.
Republicans want to extend all the Bush tax cuts permanently. Democrats have countered with a bill that would extend the tax cuts only on the first $250,000 of income for one year.