Now that summer is officially over and the fall season has arrived, most of us are looking ahead to cooler weather, the holiday season and spending time with family. But there's one thing many of us may not be thinking about but should be: taxes.
My CBPP colleague Chuck Marr flags something important from a recent press release by Rep. Dave Camp, the Republican Chair of the tax writing committee in the House. In just a few words, the Congressman manages to make some truly scary assertions.
The Paul Ryans of America have lost the bet fair and square. The tax cuts experiment has had plenty of time to show results, but the only people whose economic situations have improved since the Bush tax cuts are the wealthiest 1 percent of society.
Ask yourself whether this all sounds familiar: cut taxes on the wealthy and you'll unleash enough growth to more than make up the difference. Investment will flourish leading jobs, wages, and productivity to accelerate. It's plain old vanilla trickle-down, supply-side economics.
Who would've ever thought, after years of relentless cost-cutting in the halls of Washington, that the federal government actually spends our money on important stuff? Who would've thought that wars cost money, and tax cuts cost money, and maintaining our infrastructure costs money?
In government, that strength is a function of money as well as laws, and government's income is taxes. If a company, or industry, disagrees with a regulation, it should be able to be heard; but they shouldn't be able to write the rules.
The negative effects of Kansas' tax cuts are mounting: lower state revenues, serious cuts to services like education, and now lower growth forecasts and a downgraded credit rating. These cuts aren't setting Kansas up for economic success.
Tea Party groups have evolved over time. Initially, they were supposed to be grassroots, libertarian, and spontaneous; but there were many who almost immediately attempted to grab the Tea Party mantle and turn it into their own giant political machine.
So far in this election cycle, Snyder and his team of experts have proven to be very good at creating catchy nicknames and misrepresenting data to make it appear the governor has had a positive impact.
President Obama's new budget is a solid blueprint that would reduce deficits, alleviate poverty, and boost investment in areas needed for future economic growth, such as infrastructure, education, and research.
His latest plan: prioritize a whopping tax cut package totaling more than $500 million over education and job training, infrastructure improvements, and long-term fiscal discipline. But what would be the true cost for the state's fiscal health -- not to mention the people of Wisconsin?