Posts Tagged ‘tax increases’

The Politics of Austerity

Europe is undergoing a massive political upheaval. You may have noticed. Caught in the wake of deep recession, painfully high unemployment, bank failures, and growing demands for fiscal austerity by the bond markets, governments across the continent are collapsing. In November, voters in Spain dumped a Socialist government for the conservatives. Last weekend in France, […]

Is Obama Tax Hiker in Chief? Not Exactly

Conservatives like to say that President Obama has been responsible for massive tax increases.  It is wonderful rhetoric that plays to the big tax image Democrats have been saddled with for decades—sometimes with good reason. But for most households, this claim is the economic equivalent of the birther movement: It is as credible to call […]

Eric Cantor, Tax Increases, and Soup Kitchens

PolitiFact’s Lou Jacobson recently pointed me to a blog post by House Majority Leader Eric Cantor complaining that President Obama’s proposal to limit itemized deductions would hurt soup kitchens—and their poor clients—by inducing rich people to give less to charities. That may be true, but Cantor’s own ideas about cutting taxes would do the same […]

A Grim Prognosis for Deficit Reduction

The other day, I spent a few hours with some of Washington’s most experienced budget experts. The session was off-the-record, so I can’t tell you who they were but I can tell you what they said. In short, don’t count on much real deficit reduction any time soon, despite this summer’s debt limit deal that, […]

A Tax By Any Other Name

“What’s in a name? That which we call a rose By any other name would smell as sweet.” William Shakespeare If I understand correctly, Congressional Republicans will not support job killing tax increases of any kind as part of a plan to reduce the federal deficit. They may, however, support non-job killing revenue raisers. Newspapers […]