The President announced his support today for corporate tax reform that reduces the rate to 28 percent by eliminating expenditures in the tax code, deductions, credits and the like. Ostensibly this reduction is a show of goodwill and a step forward. Yet under closer scrutiny, the President’s proposal hypocritically reinforces existing tax expenditures and fails … Continue reading
Author Archives: Andy Winkler
Economic Daily Outlook
FRIDAY, FEBRUARY 17, 2012 ECONOMICS: The Buffet Tax Rule Is Really More of a Guidelinehttp://www.nytimes.com/2012/02/17/us/politics/white-house-sees-buffett-tax-rule-more-as-a-guide.html?nl=todaysheadlines&emc=tha23President Obama has made the Buffett Rule, mandating that millionaires pay at least 30 percent of their incomes in taxes, the centerpiece of his campaign for “fairness.” But look for it among the myriad tax changes the White House detailed in … Continue reading
Day of budget hearings reminds everyone of the task ahead
Today’s hearings in the Senate and House Budget Committees highlight the ocean of varying perspectives on the President’s budget and the appropriate approach to take on essential reforms and deficit reduction. Though committee members were certainly guilty of playing the blame game, on both sides of the aisle, many showed a genuine concern for our … Continue reading
House Republicans challenge executive on budget trickery
House Budget Committee Chairman Paul Ryan (R-Wis.) led the charge today in confronting the President’s budget director on the real numbers behind the announced $4 trillion deficit reduction in the budget released on Monday. During the House Budget Committee hearing, Republicans grilled Acting White House Budget Director Jeffrey Zients on the difference between what the … Continue reading
Economic Daily Outlook
FEBRUARY 15, 2012 ECONOMY: Congressional negotiators reach tentative deal on payroll tax, unemployment benefits http://www.washingtonpost.com/politics/obama-renews-pressure-for-payroll-tax-cut-even-as-gop-leaders-agree-to-compromise/2012/02/14/gIQAyZEbDR_story.html Congressional negotiators reached a tentative deal Tuesday to extend a payroll tax holiday, unemployment benefits and Medicare payment rates for doctors, while finding more than $50 billion in cuts to reduce the effect on the federal deficit. Geithner Says Business-Tax Plan … Continue reading
President’s budget ignores real reforms, shirks responsibility
Yesterday, the President announced his budget for fiscal year 2013, a plan that, if implemented, would raise taxes and burden younger Americans with a legacy of chronic budget deficits. The budget the President is proposing is a house of cards on a foundation of volatile debt that is quite obviously not “built to last.” During … Continue reading
Economic Daily Outlook
FEBRUARY 14, 2012 ECONOMY: Obama Seeks New Taxes on Rich http://online.wsj.com/article/SB10001424052970204795304577221063135502908.html?mod=WSJ_hp_LEFTTopStories President Barack Obama called on Congress Monday to enact new taxes on the wealthy, restructure the tax code and approve short-term spending measures as part of an election-year budget plan aimed at boosting job growth and helping the middle class. Why Tax Policy Assumes … Continue reading
Economic Daily Outlook
February 13, 2012 ECONOMY: Budget Sets Stage for Year-End Clash http://online.wsj.com/article/SB10001424052970204062704577219602675759134.html?mod=WSJ_hp_MIDDLENexttoWhatsNewsSecond President Barack Obama’s budget plan, to be released Monday, will serve both as an outline of his re-election campaign message and a blueprint of the White House strategy for another clash looming after the November elections. OPINION: Autopilot is driving US to ruin (Judd … Continue reading
Tax and entitlement reform overshadowed by credit-taking, blame games, and job report
Following a jobs report released this morning showing the unemployment rate dropped from 8.5 to 8.3 percent last month, the President emphasized his plan to keep the economy growing at a fire station in Arlington, Virginia. “The economy is growing stronger. The recovery is speeding up. And we’ve got to do everything in our power … Continue reading
President details housing plan, imperfect and ill-timed
Lost in the mire of political news about yet another trillion-dollar deficit and the latest from the campaign trail are a number of important developments in housing. This week the President kicked off the campaign to sell his plan for solving America’s housing market woes, a plan he outlined in the State of the Union. … Continue reading
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