If you have something to say...
Say it on the Huffington Post
If you have something to say...
Say it on the Huffington Post
The Blog
Nancy Pelosi just moved the $250K tax threshold up to $1 million. That is, she wrote: "Democrats believe that tax cuts for those earning over a million dollars a year should expire..." That is a very big, very bad deal.
Strengthening the civic education of the next generation of Americans through exercises in which students have to agree on controversial issues might help. But that will take time. And we can't afford to wait.
A budget is much more than numbers and a bottom line; a budget should reflect national priorities. Unfortunately, the Ryan budget prioritizes sharply reducing spending and cutting taxes on the wealthy -- at the expense of good economic stewardship.
Just ten years ago this country was running huge surpluses and paying off its debt. But then we elected Obama and all hell broke loose. Oh, wait...
The national motto of France, which had its roots in the French Revolution, is "Liberte, Egalite, Fraternite." And how is that working for us here in the U.S.? Our liberties are being threatened by rightwing power grabs and over-reactions to threats of terrorism.
By removing the deduction for state and local taxes, Gov. Romney's proposal would mean that the government taxes ordinary Americans twice, which seems a little hypocritical coming from such an ardent supporter of tax cuts for the wealthy.
We've collected our top ten charts related to federal taxes. Together, they provide useful context for the coming debates about how to reduce soaring budget deficits and reform the tax code.
Instead of giving the wealthiest Americans a free ride, why shouldn't we ask them to pay their fair share? That's the only way we are going to bring fairness to our tax system and make our nation stronger, healthier and more competitive.
What we should have learned over the last half century is that growth doesn't trickle down from the top. It percolates upward from working people who are adequately educated, healthy, sufficiently rewarded, and who feel they have a fair chance to make it in America.
The 99 percent must insist Congress pass the Buffet Rule. They must render tax shirking by those in first class as unacceptable as driving with a pet dog strapped to the car roof. The survival-of-the-richest attitude is bad for the country and antithetical to democracy.
Obama is going to win the election this year and when he does, I want him to raise taxes on wealthy Americans by repealing the Bush tax cuts or introducing new tax legislation on the "1 percent" as well as capital gains.
The ship of state is sailing into a dangerous triangle. No, not the unknown dangers of the Bermuda Triangle. But into the well-known dangers of a fiscal triangle of disaster. And the arrival date is also-known: January 1, 2013.
We must become a much more politically engaged and informed population and take responsibility for ensuring that those we elect to represent us in Congress are held accountable, but also support them when they do the right thing.
It's impossible to predict how events in Washington play out, of course. But if you're concerned about the impact of potentially higher taxes on the highest earners within your company, a review of your retirement plans may be in order.
If Congress and the president do nothing about our tax system between now and the end of the year, here are just a few things in the tax law that will blow up.
With the economy just barely on a path to durable recovery, some very dumb fiscal chickens are coming home to roost on January 1 of next year. This grim coincidence is known as the Triple Witching Hour.
