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Harry Reid preps deal to lock in big business tax cuts and screw over middle class

Would Harry Reid's last big act as majority leader for the next two years be to screw over the middle class to help out business? If ThinkProgress's sources are right, that's what could be happening. Igor Volksy writes that sources tell...Show More Summary

Republicans love this new health care plan. Too bad it's basically a tax cut for the rich.

The Affordable Care Act has been a policy success. It has substantially reduced the number of uninsured, while slowing the growth in American health care spending. The people who have been newly insured under the ACA like it. None of these things have made the law popular among the population as a whole. Show More Summary

The Return Of Voodoo Economics: Paul Ryan Wants To Hide The Real Cost Of Tax Cuts

I'm going to take a real wild guess that our compliant corporate media talking heads will treat this as gospel. Because the winners are always right, amirite? When Republicans took control of both houses of Congress earlier this month, they won an important new power: They can change how Congress does math. Seriously. Show More Summary

Ten Things You Need to Know Today: Sunday 23 Nov 2014

CABLE SLAMS OSBORNE TAX ‘FANTASY’ George Osborne’s plan for £7bn of tax cuts is a “total fantasy” warns Vince Cable. The business secretary told The Observer treasury officials believe the chancellor’s pledges are not affordable. “When...Show More Summary

Immigration Concern Trolling 2: Paul Ryan’s Empty Threats Edition

Shorter Paul Ryan: The unprecedented tyranny of Emperor Obama issuing an unquestionably legal order as a term-limited elected official will prevent Congress passing upper-class tax cuts!

Devo Max with corporate tax cut ” disastrous” for NI

6 days agoNews : Slugger O'Toole

This powerful case against the SNP’s Devo Max plans including a 3% cut in corporation tax is made in the academic  website The Conversation by  Arthur Midwinter Associate Professor, Institute of Public Sector Accounting Research at University of Edinburgh  and a former adviser to the former Labour leader in the Scottish Parliament  Johann Lamont. It more...

California’s Tax Hikes Versus Kansas’ Tax Cuts: Early Results Now In

Tax Justice Network, California’s Tax Hikes Versus Kansas’ Tax Cuts: Early Results Now In: From a new paper by Paul Caron of Pepperdine University and Joseph Bankman of Stanford University: The conventional wisdom in California two years ago was that raising taxes on the wealthy would harm the economy and...

Quote of the Day

[Content Note: Class warfare.]"The Republicans have a pretty simple philosophy: They say if those at the top have more—more power for Wall Street players to do whatever they want and more money for tax cuts than somehow they can be counted on to build the economy for everyone else. Show More Summary

Investors Don't Believe Low Oil Prices Are "Unequivocally" Good For America

While investors are told day after day that low oil prices are "unequivocally" good for America's economy (pick your number $20, $30, $40 billion tax cut for consumers), it appears they are not buying this big lie (that appears to forget the other side of the equation of capex, jobs, and spending from the Shale Oil miracle). Show More Summary

Priorities, Priorities. Fuck It, More Tax Cuts for the Rich

This is what education looks like when you go full metal wingnut with the budget: The number couldn’t possibly be right, Marc Gosselin thought: $160. That was the total discretionary budget he was handed as the brand-new principal of Anna Lane Lingelbach Elementary, a public school in Germantown. That’s all he’d have to pay for [Read more...]

Income Tax Cuts Increase Growth but Reduce Revenue

Some of the most heated debate over taxes focuses on a single feature of the tax code: the top marginal rate. Some people argue that the top marginal rate on income is an important feature in the incentives to work and invest. Others argue that the top bracket of the income tax is a key source of revenue for public priorities. Show More Summary

Cutting Social Security to fund tax cuts for the rich?

Rep. Bill Cassidy’s “record is crystal clear: voting to cut Social Security benefits to pay for tax breaks for millionaires like himself.” – voiceover of new ad sponsored by the campaign of Sen. Mary Landrieu (D-La.) This tough new ad from Landrieu — who faces a runoff election against Cassidy — uses clips from a […]

The Detailed US Shale Oil Cost Curve: Where Is The Line In The Sand?

On an almost daily basis, investors are reassured that a falling oil price is "unequivocally good" for the US economy. The "It's like a tax cut for the consumer"-meme dominates financial media while the impact on the Shale (or tight)...Show More Summary

Medical Device Excise Tax and Transfer Pricing

The Republicans ran on tax cuts for the rich – well the “job creators” even if getting tax breaks will not necessarily led to any new job creation. But it is time to reward the base: First on the chopping block is likely the 2.3 percent tax on medical devices, such as hospital beds, MRIs, pacemakers or artificial joints. Show More Summary

Obama Please Don't Do It--No Bad Deals With Republicans on Corporate Tax Cuts and Free Trade

As predictably as clockwork, the pundit class is telling President Obama that to create a Presidential "legacy" he needs to find bipartisan agreement with the Republican Congress on issues like free trade and cutting the corporate tax...Show More Summary

WSJ: Ireland to Ramp Up Corporate Tax Avoidance by Replacing 'Double Irish' With 100% Amortization of IP on Way to 'Knowledge-Development Box'

Wall Street Journal, Ireland Moves to Close One Tax Break and Opens Another; Bill to End “Double Irish” Also Offers Corporate Tax Cuts on Intellectual Property: As the Irish government moves to close one door to corporate tax avoidance, it is opening another. Tucked into legislation to eliminate a much...

Kansas Governor’s Grand Tax Cut Experiment Is Gutting His State’s Services

The latest revenue numbers out of Kansas suggest that Gov. Sam Brownback's (R) massive tax cuts will continue to undermine the state's public services and economy for years. The post Kansas Governor’s Grand Tax Cut Experiment Is Gutting His State’s Services appeared first on ThinkProgress.

TaxProf Blog Weekend Roundup

Saturday: Simkovic & McIntyre: The Economic Value of a Law Degree: $1 Million WSJ: How to Use a 401k to Pump Up a Roth IRA The 20 Most Beautiful College Campuses in America The IRS Scandal, Day 541 Sunday: NY Times: State Tax Cuts on Trial on Tuesday, Especially in...

NY Times: State Tax Cuts on Trial on Tuesday, Especially in Kansas

New York Times editorial, Tax Cuts on Trial in Governors’ Races: There is only so long a governor can do great damage to a state before voters start to demand a change. In Kansas, Gov. Sam Brownback, a Republican who has driven down his state’s credit rating and cratered its...

Mike's Blog Round Up

Obsidian Wings: Not seeing the upside. Vox Verax: Trickle-down a myth to justify tax cuts. Middle Class Political Economist: How to deal with the growing incentives competition. The Consumerist Manifesto: Fee-shifting. Model View Culture: Unlocking the invisible elevator. This installment by Batocchio. E-mail tips to mbru AT crooksandliars DOT com.

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