Archive for the ‘Obama Economic Policy’ Category

Understanding President Obama’s Revenue Targets

President Obama and administration officials have offered two different revenue targets for the fiscal cliff debate: $1 trillion and $1.6 trillion (sometimes reported as $1.5 trillion). You might be wondering (I was) where those numbers come from. The $1 Trillion President Obama wants to extend the majority of the Bush-era individual income tax cuts—enacted in […]

Can Congress Raise Taxes on the Rich without Raising Their Rates? Maybe

At his press conference yesterday, President Obama said it is nearly impossible to raise taxes on the wealthy (a key piece of his fiscal strategy) without increasing their tax rates. It is, Obama said, a matter of simple arithmetic.   But a look at some very rough numbers suggests that if the president and congressional […]

Congress Can’t Avoid Tax Rate Hikes By Closing “Loopholes”

You can tell when Congress and the President have tough choices to make. That’s when they trot out the euphemisms—all aimed at making what they are about to do sound as benign as possible.  Case in point: the impending fiscal cliff. If you listened to President Obama and House Speaker John Boehner’s radio addresses last Saturday, […]

Washington Starts To Dance Away from the Fiscal Cliff

So the dance begins. President Obama, House Speaker John Boehner (R-OH), and various other lawmakers are starting to lay down their markers as they look to back away from the fiscal cliff. Based on their public words, at least, the parties remain far apart. Yet there are signs that both sides are looking for a deal. […]

Five Challenges for Obama’s Tough Second-Term

Barack Obama has pulled off the easy part. He got re-elected. Now, he faces a second term full of painful choices. You could see it in his campaign, which focused more on Mitt Romney’s flaws than on what the president would do in the next four years. Much of this, I suspect, was the result […]

A Disappointing Presidential Campaign Comes to an End

With the U.S. facing huge domestic policy challenges, one might have hoped for a serious debate on fiscal issues between Barack Obama and Mitt Romney. One would have been deeply disappointed. Rather than framing what seem to be profoundly different views of government, the candidates chose to double-down on what Bill Clinton memorably called the […]

What Is Barack Obama’s Tax Plan?

After all the promises and finger-pointing, the presidential campaign is nearly over. But since the race has shed more heat than light on how each of the candidates would govern, I thought it would be useful to describe exactly what Barack Obama and Mitt Romney have pledged to do on tax policy if elected on […]

The Ten Biggest Differences between the Romney and Obama Tax Plans

When it comes to taxes, Mitt Romney and Barack Obama are almost perfect mirror images of one another. Here are ten ways their tax plans are different. Romney’s tax agenda is ambitious and opaque. Obama’s is modest but relatively transparent. Obama has shown little interest in broad-based tax reform. Romney wants to fundamentally rewrite the […]

Five Things You Should Know about Mitt Romney’s “$5 Trillion Tax Cut”

You’ve probably heard claims that Mitt Romney wants to cut taxes by $5 trillion. Here are five things you should know about that figure: 1. $5 trillion is the gross amount of tax cuts he has proposed, not the net impact of all his intended tax reforms. Governor Romney has been very specific about the […]

Can Romney Cut Taxes for the Rich Without Reducing Their Share of Taxes? Yes, but….

President Obama says Governor Romney will cut taxes for high-income households by $250,000. Romney counters that under his plan, the rich will pay the same share of taxes they do today. Who’s right? It all depends on what plan you are looking at and what you are measuring. The first problem is the two candidates […]