Taxes

Rep. Chris Gibson (R-NY): No Longer Bound by Norquist Anti-Tax Pledge due to Congressional Redistricting

November 30, 2012

“Gibson originally ran for his seat in the 20th District, but now he is in the 19th District, which includes about half of his old constituents.”

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Report: Some Congressional Democrats Oppose President Obama’s Proposal to Raise the Estate Tax

November 30, 2012

“The outcome may hinge on whether Obama insists on his estate tax proposal – or something close to it – as forcefully as he has insisted on raising individual income tax rates for high income-earners, or whether he lets the issue be put off.”

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NewsBusters: Media Exaggerates Deficit-Reducing Impact of a Buffett Rule Tax

November 30, 2012

“The government currently spends $5 billion about every 12 hours, and runs an $5 billion deficit in less than two days.”

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Congressional Republicans reject the White House’s Debt Deal Proposal, Calling it “Incomplete”

November 29, 2012

“The proposals from the White House – the first to use hard numbers – include a $1.6tn tax increase, a $50bn stimulus package and new presidential powers to raise the federal debt limit without congressional approval.”

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Republican Senator Jeff Sessions (AL) criticizes President Obama and Congressional Leaders for “Secret” Fiscal Cliff Negotiations

November 29, 2012

“In remarks on the Senate floor today, Alabama senator Jeff Sessions blasted President Barack Obama and congressional leadership for holding “secret” fiscal cliff negotiations.”

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White House: No Debt Deal unless Taxes on the Wealthiest Americans Increase

November 29, 2012

“White House press secretary Jay Carney said Thursday there will be no deficit deal unless Republicans agree to raise tax rates on the wealthiest households.”

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House Republicans Fighting To Keep Fiscal Cliff Tax Increases Below $1 Trillion

November 29, 2012

“Still, they know it’s likely to come in a shade higher. The safe bet is just over $1 trillion for the final number. A bit less, and that’s a notable win for Boehner.”

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Report: “No Chance” Taxes Won’t Rise on Incomes Above $250,000 as part of the U.S. Debt Deal

November 29, 2012

“Republicans publicly say they are opposed to rate hikes — but privately they know they are going up, if not all the way to the Clinton-era 39.6 percent, then darn close.”

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Details of U.S. Fiscal Cliff Talks between the White House and Congressional Republicans

November 29, 2012

“Cut through the fog, and here’s what to expect: Taxes will go up just shy of $1.2 trillion — the middle ground of what President Barack Obama wants and what Republicans say they could stomach.”

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Republican Senator Saxby Chambliss (GA) abandons the Grover Norquist Taxpayer Protection Pledge he signed

November 23, 2012

“Congress and the White House face a year-end deadline to reach a deal that staves off an avalanche of tax increases and deep cuts in government programs – commonly referred to now as the “fiscal cliff.””

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Nicholas Kristof: The Top One Percent of Americans have a Higher Net Worth than the Bottom 90 Percent

November 23, 2012

“Since the 1950s, the top federal income tax rate has fallen from 90 percent or more to 35 percent. Capital gains tax rates have been cut by more than half since the late 1970s.”

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New Jersey Governor Chris Christie warns Residents of Property Tax Hikes due to Hurricane Sandy

November 15, 2012

“While municipalities can expect federal reimbursement for most storm-related cleanup costs, residents will most likely foot the bill for rebuilding.”

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President Obama to begin Debt Negotiations by calling for $1.6 Trillion in additional Tax Revenue over the next Decade

November 13, 2012

“Reverting to Clinton-era rates on incomes greater than $250,000 would raise $1 trillion; the rest could come from capping deductions, the method Republicans prefer but which would be insufficient alone.”

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Congressional Democrats considering a Hard Cap on Income Tax Deductions, an idea originally proposed by Romney

November 13, 2012

““Let’s just say there’s a renewed interest,” said Senator Kent Conrad, Democrat of North Dakota and chairman of the Senate Budget Committee. “Part of it is people reflecting on Obama’s proposal, but when Romney said what he said, it just added fuel.””

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Conservative Bill Kristol on Fox News: It won’t kill the country if we raise taxes a little bit on Millionaires

November 13, 2012

“Recognizing the self-evident — that “elections have consequences” — Kristol went on to suggest that perhaps it was time for the Republican Party and the conservative movement writ large to “pull back, let people float new ideas.”"

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