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Tag: Taxes


Flickr / Qfamily

Bailout Bill Skates Through Senate

Well, that was easy: While the House had to contend with round-the-clock negotiations and a last-minute revolt, the Senate just threw more money at the problem. That was enough for 74 lawmakers to say yes to the $810-billion package. The House will take another crack at it on Friday.

Posted on Oct 1, 2008 READ MORE


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White House / Susan Sterner

Senate Fattens Up Bailout Package

The House couldn’t swallow the $700-billion bailout proposal, so the Senate added about $100 billion of incentives—mostly in the form of tax cuts. The Senate will vote on the proposal tonight and the House could decide as early as Friday whether $700 billion is too much, but $800 billion is just about right.

Posted on Oct 1, 2008 READ MORE


McCain Is Guilty Enough

Americans are reluctant to make John McCain pay for George W. Bush’s sins, but with so many crises on so many fronts, the country can’t afford to cut him any slack.

Posted on Sep 30, 2008 READ MORE


Socialism for Dummies

So this is how the “ownership society” works. We own all the bad stuff.

Posted on Sep 22, 2008 READ MORE



AP photo / Susan Walsh

Fleecing What’s Left of the Treasury

The lobbyists and corporate lawyers, the heads of financial firms and the crooks who control Wall Street, all those who spent the last three decades assuring us that government was part of the problem and should get out of the way, are now busy looting the U.S. treasury.

Posted on Sep 21, 2008 READ MORE



Flickr / jurvetson

Pelosi Balks at Bailout Scheme

Nancy Pelosi isn’t buying into the idea of a $700 billion gift basket for Wall Street without any strings attached. The House speaker is all for a bailout, so long as it’s clear that “the party is over for the Bush administration’s anything goes, failed economic policies.” Update 2

Posted on Sep 21, 2008 READ MORE


Fiddling While Wall Street Burns

Obama shows more promise than McCain, if only because he correctly sees deregulatory zeal as a culprit. But Obama’s economic strategy simply can’t be implemented now: He wants to spend on necessary investments such as health care, but would have no money to do it.

Posted on Sep 17, 2008 READ MORE


Crisis ad

McCain Campaign Ads: Impending Economic Cataclysm Edition

John McCain’s campaign would like to nominate—who else?— John McCain and Sarah Palin as just the ticket to get Americans out of financial crisis, claiming they’ll fight “special interest giveaways” on Wall Street(?!), cut taxes and, of course, drill, baby, drill!

Posted on Sep 15, 2008 WATCH & LISTEN


A Campaign Without Ideas

There was a time when Republicans campaigned on their ideas, programs and values. This year—lacking ideas, programs or values—John McCain and Sarah Palin are running for the White House on an elaborate fictional narrative of victimhood.

Posted on Sep 11, 2008 READ MORE


ENTER_ALT_TEXT

Obama on Death and Taxes

Keith Olbermann began the second part of his interview with Barack Obama with a tale of two conservatives: “One guy who makes about $40,000 a year said, ‘Ask him why he’s going to raise my taxes.’  Another guy makes about a million dollars a year, said, ‘Ask him why he’s going to raise my taxes.’ ”

Posted on Sep 10, 2008 WATCH & LISTEN


Memoir Politics

Talk about role reversal. The Republican Party, which scoffs at the nonsense of “identity politics,” has staked everything on the compelling life stories of its presidential and vice presidential candidates.

Posted on Sep 4, 2008 READ MORE


A Funny Thing Happened on the Way to Denver

Twenty-two Electoral College votes in the Rocky Mountain West are up for grabs, meaning this vast expanse is more pivotal than Ohio. And that’s only the beginning of the region’s burgeoning influence on energy, taxes, trade and health care.

Posted on Aug 7, 2008 READ MORE


McCain Steps Up Celebrity Attack

John McCain has found a theme he likes and he’s sticking with it: Barack Obama is popular and that’s bad. Much worse, apparently, than the Reagan-era economic philosophy the presumed Republican nominee is peddling.

Posted on Aug 6, 2008 WATCH & LISTEN


A Common-Sense Approach to Social Security

In this summer of our economic discontent, it isn’t necessary to manufacture a financial crisis or to make political hash out of discussing a nonexistent one.

Posted on Aug 4, 2008 READ MORE



Flickr / PetroleumJelliffe

The Rich Get Richer

According to the most recent data from the IRS, the wealthiest 1 percent of Americans took home a greater share of the nation’s income in 2006 than in any year of the previous 19. It’s possibly the biggest income disparity Americans have seen since the Great Depression. The average tax rate of the super-rich was at its lowest level in at least 18 years.

Posted on Jul 27, 2008 READ MORE


Early Estimates of Bailout Range to $100 Billion

The independent Congressional Budget Office has announced the expected federal taxpayer bailout of Fannie Mae and Freddie Mac will appear as a $25 billion budget expense, but that the real bill could be anywhere from zero to $100 billion. This, even though the once-governmental agencies were formally privatized in 1968.

Posted on Jul 22, 2008 READ MORE


There’s More to the Economy Than Taxes

Using taxes as the centerpiece of—or as a substitute for—a more comprehensive economic policy is the idea that has dominated Washington since the rise of Reaganism nearly three decades ago, but the global forces shaping the U.S. economy are more powerful than a mere tax cut, or tax hike.

Posted on Jul 21, 2008 READ MORE


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William Pfaff on General Motors

Are workers to blame for the fix that General Motors (along with many other corporations) is in? A new book by Roger Lowenstein argues that they are. He couldn’t be more wrong.

Posted on Jul 18, 2008 READ MORE


Republican Song billboard
gawker.com

Enterprising GOP Troubadour Blends Poetry, Politics in ‘Republican Song’

With all the subtlety of a jackhammer, an enterprising right-wing artiste by the name of Mike Meehan has recorded an election-year anthem, “Please Don’t Vote for a Democrat,” and has launched a corresponding PR campaign via the Internet and billboard ads—like this one in noted liberal stronghold Orange County, Florida—in hopes of striking fear and indignation into the hearts of undecided voters.

 

Posted on Jul 16, 2008 READ MORE


The House That Gramm Built

Phil Gramm’s dismissal of America’s economic suffering has forced him to the political sidelines, but as one of the congressional architects of Republican economics, the mess he made will haunt Americans no matter who the next president is.

Posted on Jul 14, 2008 READ MORE


Cold-Filtered Economics

Presumptive Republican presidential nominee John McCain unveiled details of his economic policy today, telling an audience in Ohio that if elected he would support a real-estate tax holiday for beer heiresses.

Posted on Jul 6, 2008 READ MORE


Taxes, Integrity and Character

Once upon a time, there was a fiscally and socially responsible senator named John McCain.

Posted on Jun 18, 2008 READ MORE


fighter plane
AP photo / LM Otero

Indefensible Spending

What should be the most important issue in this election is one that is rarely, if ever, addressed: Why is U.S. military spending at the highest point, in inflation-adjusted dollars, than at any time since the end of World War II?

Posted on Jun 1, 2008 READ MORE


Cindy McCain Flaunts Her Privilege

Double standards are endemic in American journalism. But Cindy McCain, wife of the Republican presidential candidate, displayed poor taste in flaunting her family’s special immunity from press scrutiny.

Posted on May 14, 2008 READ MORE


Obama’s Weather Balloon

The first important election result for the senator in May—coming before his North Carolina victory—was the outcome of a little-noticed U.S. House contest in Louisiana.

Posted on May 8, 2008 READ MORE


The Power of a Stupid Idea

There’s something maddening about this presidential campaign. It has become irrelevant whether anything the candidates say actually makes sense. Case in point: cutting the gas tax.

Posted on May 2, 2008 READ MORE



Flickr/ Captian Giona

Italians Outraged, Yet Curious

Imagine going to the Internet and being able to see how much everyone in the United States, including you, earned and paid in taxes. The outgoing Italian government just made everyone’s private business public. Needless to say, Italians were outraged as they rushed to the Web to see the income of their neighbors and the rich and famous.

Posted on May 1, 2008 READ MORE


White House Life









Posted on Apr 27, 2008 ENLARGE


Bush
boston.com

Bush Ready to Stimulate America

President Bush announced that rebate checks will start winging their way to taxpayers as early as Monday, helpfully observing that Americans need a little help paying for necessities like groceries and gas during this economic “slowdown”—a slightly different story from his initial justification for this economic stimulus plan, and one that wasn’t lost on his critics.

Posted on Apr 25, 2008 READ MORE


McCainomics

Fittingly, and with dreadful predictability, John McCain used April 15—tax day—as the day to release his economic plan. Fittingly, and with dreadful predictability, it offers more of the same. But more of the same what?

Posted on Apr 21, 2008 READ MORE


Substance for Those Who Were Patient

Once the meaningless inquisition about loose semantics and questionable acquaintances was done, Wednesday night’s debate between Obama and Clinton got interesting.

Posted on Apr 17, 2008 READ MORE


Clintons
commons.wikimedia.org

Clinton Releases Tax Returns

Hillary Clinton has released seven years of tax returns, which she filed jointly with her former president husband. While there is much poring over to do, one piece of information stands out: The Clintons are rich. America’s most famous power couple made about $109 million in seven years, thanks in large part to Bill Clinton’s speaking fees.

Posted on Apr 4, 2008 READ MORE


He’s ‘McSame’ on Social Security, Too

The most puzzling aspect of John McCain’s political persona is his habitual attraction to George W. Bush’s bad ideas.

Posted on Apr 2, 2008 READ MORE


Doctors and Patients Agree

Add doctors to that growing list of Americans who would like to see some form of national health insurance.

Posted on Apr 2, 2008 READ MORE


Obama's taxes
barackobama.com

Obama Releases Taxes

Barack Obama posted his tax returns for the last seven years on his Web site Tuesday. It’s a direct challenge to his opponent, who has indicated that she will release hers about three days before the Pennsylvania primary in late April.

Posted on Mar 25, 2008 READ MORE


Be Careful What You Wish For

Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries, and how government should keep its hands off the private economy.

Posted on Mar 18, 2008 READ MORE


Reagan Democrats

The overdose of Reagan nostalgia to which we’ve been subjected during the Republican presidential primaries is as understandable as it is misplaced.

Posted on Mar 13, 2008 READ MORE


The Two McCains

Liberals who have sung the praises of John McCain in the past confront a fascinating test of consistency, integrity and political commitment now that McCain is the virtually certain Republican nominee. It could be an amusing moment. I should know, since I’m one of them.

Posted on Mar 10, 2008 READ MORE


Bush’s Gas Gaffe

Of all the reasons to be hopping mad, helplessly shaking your head or hoping beyond reasonable hope that somehow the Bush presidency will get better before it ends, blaming the president for failure to know the price of gas at the pump isn’t one of them.

Posted on Mar 3, 2008 READ MORE


farm
international.wi.gov

Farm Bill Brings the Bacon

What has the power to unite progressive Democrats and conservative Republicans? According to a compelling article in the San Francisco Chronicle, agribusiness is having its way in Congress, even getting Democrats to cut food stamps to make room for subsidies.

Posted on Feb 28, 2008 READ MORE


Hillary's feet
latimes.com

Clinton Backtracks on Tax Returns

Under pressure during Tuesday’s debate, Hillary Clinton hinted that she might release her tax returns earlier than “once I become the nominee,” a schedule that had drawn criticism from Barack Obama and the press. But aides speaking with the media the next day retreated from that opening.

Posted on Feb 27, 2008 READ MORE


No ‘Straight Talk’ on Iraq Cost

As a presidential candidate, John McCain stands out not only for his vocal endorsement of the unpopular war in Iraq, but also because one of his own sons is a Marine Corps officer on active duty there.

Posted on Feb 21, 2008 READ MORE


McCain’s Losing Message

John McCain has the advantage of getting to run right away. Too bad he’s campaigning on failed policies and bad ideas.

Posted on Feb 19, 2008 READ MORE


Hillary Clinton

Following the Money

Barack Obama has called for Hillary Clinton to release her tax returns in light of the $5 million she lent her campaign. Here he explains why, and Clinton promises she will—but only if she wins the nomination.

Posted on Feb 12, 2008 WATCH & LISTEN


The McCain Divide

If the Arizona senator secures the Republican presidential nomination, his victory would signal a revolution in American politics—a divorce, after a 28-year marriage, between the Republican and conservative establishments.

Posted on Jan 31, 2008 READ MORE


Bush Goes Out With a Thud

George W. Bush, the president who lied America into a war that will end up costing trillions of dollars, scolded the Democratic-controlled Congress in his final State of the Union address on Monday for undermining “the people’s trust in their government” with too many pet projects. Now that’s chutzpah, coming from a man who never met a spending bill he didn’t like unless it had to do with stem cells and sick children.

Posted on Jan 29, 2008 READ MORE


An Economic Bridge to Nowhere

House Republicans were able to keep an extension of unemployment benefits out of the recently announced stimulus package, which is too bad, since it’s one measure that would actually help the ailing economy.

Posted on Jan 28, 2008 READ MORE


book cover

Chalmers Johnson on the Myth of Free Trade

A powerful new book by a young South Korean-born economist at Cambridge University provides a compelling critique of the contradictions and hypocrisies of globalization and neoliberalism. The perfect antidote to the nostrums of Thomas Friedman.

Posted on Jan 24, 2008 READ MORE


The Stimulus Swindle

Stimulus—you’ve probably heard this nebulous, scientific-sounding word this week. Every politician suddenly wants economic “stimulus,” and wants you to think this “stimulus” is unequivocally good.

Posted on Jan 24, 2008 READ MORE


Pelosi and Bush
news.google.com

House, Bush Cut Stimulus Deal

House Democrats, Republicans and President Bush have tentatively agreed on the broad outlines of a $150-billion stimulus package. Most of that money will come in the form of payouts ranging between $300 and $1,200 for individuals and households.

Posted on Jan 24, 2008 READ MORE


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