The coolest place on the internet, according to this tagline.
AskArchiveFAQ

January 1, 2013
In which logic flips itself on its head and introduces new wrinkles.

In which logic flips itself on its head and introduces new wrinkles.

23:01 // 1 year ago
December 4, 2012
We are not going to be able to come up with comprehensive tax reform package that gets it all done just in the next two weeks. We are not going to be able to come up with necessarily a comprehensive entitlement reform package that gets it all done in the next two weeks. When you look at what Ronald Reagan did back in 1986 working with Bill Bradley and others, that was a year-and-a-half process … Let’s essentially put a down payment on taxes. Let’s let taxes on upper-income folks go up.
President Obama • Demanding an end to top-end Bush tax cuts during his first post-election interview with Bloomberg News’ Julianna Goldman. While he may have signaled some willingness to compromise, the President told Goldman that Republicans needed to give more, and that the most recent “fiscal cliff” proposal from Speaker Boehner was “still out of balance.” source
14:31 // 1 year ago
December 2, 2012
Just remember to extend those tax cuts costs $1tn dollars over 10 years. There is no way we can get back to a balanced plan that put us back on the path to living within our means, protects Medicare, invests in things we need, if you extend those tax cuts.
Treasury Secretary Timothy Geithner • Discussing the role of  the Bush-era tax cuts in the current fiscal cliff crisis. The Obama administration’s continuing stance? For higher wage-earners, the cuts must go away. The Obama administration in general is pushing for ways to raise revenue to deal with the debut crisis. But don’t expect any assistance from House Speaker John Boehner, who says that if Obama gets the $1.6 trillion in revenue he’s looking to raise, “He’s going to spend it.” What do you guys think is going to happen with the fiscal cliff?
14:53 // 1 year ago
July 9, 2012
We have to continue to grow our economy — we need to grow it from the middle class out. Millionaires and billionaires — they don’t need a tax cut. They’re not struggling in this economy. They’ve done well even as the middle class has shrunk.
Obama campaign senior adviser Robert Gibbs • Speaking about the president’s upcoming speech, where he’s expected to push for an extension of the Bush-era tax cuts on those making less than $250,000 — but no extension of the tax cuts on levels above that. (The long-term goal is to make them permanent, as he’s pushed in the past, but this is for one year.) This is likely to make Republicans ticked, because they want the cuts extended for everyone. But if they can’t figure out how to handle this by January 1, the cuts will be cancelled for everyone. What are the odds that this will be dragged out until December 29th?
9:55 // 1 year ago
April 10, 2012
I wish they weren’t called the ‘Bush tax cuts.’
Former President George W. Bush, revealing that the his most prominent remaining namesake in national politics is one he’d rather not have. That’s not to say he has any regrets about his tax-cutting ethos — much to the contrary, his speech was insisting on more money left in the hands of upper-income earners — but he believes that with a less polarizing name attached, there’d be less risk of the rates going back up. That’s pretty honest self-awareness, all things considered.

(Source: forbes.com)

23:27 // 2 years ago
February 13, 2012
Obama vs. Romney on tax rates: As you can see, rates are largely the same—except for the nation’s richest and poorest. The poor would pay almost twice as much in taxes under Romney’s plan; meanwhile, the very richest in the country would be forced to cough up about 10% more of their income under Obama. The net effect? In short, Romney’s plan would reduce federal revenues to about 17% of GDP—down .9% from where they are now. Obama’s budget would raise revenues 19.2%, with most of that money coming from those making over $250,000 a year (Graphic and data courtesy of The Washington Post / Tax Policy Center).

Obama vs. Romney on tax rates: As you can see, rates are largely the same—except for the nation’s richest and poorest. The poor would pay almost twice as much in taxes under Romney’s plan; meanwhile, the very richest in the country would be forced to cough up about 10% more of their income under Obama. The net effect? In short, Romney’s plan would reduce federal revenues to about 17% of GDP—down .9% from where they are now. Obama’s budget would raise revenues 19.2%, with most of that money coming from those making over $250,000 a year (Graphic and data courtesy of The Washington Post / Tax Policy Center).

16:15 // 2 years ago

Three things you should know about Obama’s forthcoming budget plan

  • cuts While still leaning on the “Buffett Rule” that he’s been pushing for months and planning to end the Bush tax cuts for the super-rich, Obama’s plan would also cut $2.50 for each dollar raised from tax proposals affecting high income-earners.
  • jobs With the GOP blocking much of Obama’s job plan last year, he’s taking another try at it, offering up $350 billion in job-growth spending, which includes $50 billion to improve infrastructure and $60 billion to modernize schools.
  • defense Echoing the words of Secretary of Defense Leon Panetta, the budget proposal would cut non-war spending. However, automatic cuts set to kick in next year will likely get replaced by a “balanced deficit-reduction package.” source

Read ShortFormBlogFollow

10:02 // 2 years ago
January 23, 2012
If tax cuts create jobs, why didn’t the Bush tax cuts work?
On-point question by the National Journal’s Beth Reinhard. Newt blamed the timing for its failure to work. (Reposting because it’s a good quote and Tumblr’s acting weird tonight.)
23:46 // 2 years ago
November 9, 2011

OWS members start trek to Washington DC

  • 240 mile march by Occupy Wall Street, from NYC to DC source

» Hitting the road: A group of OWS protesters have embarked on this lengthy walk, expecting to arrive in Washington DC on November 23rd, the congressional committee deadline on whether to keep the Bush-era tax cuts extensions President Obama agreed to last year. The Occupy movement, obviously, would like to see these cuts expire; while this would raise the tax burden of middle-income Americans to a remote extent, it would also cause a very large influx of revenue from the class most buoyed by the Bush tax policy — that vaunted 1%. The march consists of a mere dozen or so protesters right now, but they expect (we suspect rightly) to gain large numbers as they work their way towards the capitol.

Read ShortFormBlogFollow

13:54 // 2 years ago