by Linda Beale If the Dems got a backbone Yesterday I urged the Democrats to develop some backbone in response to the continuing right-wing extortion demands for military spending increases, tax cuts and entitlement program changes.How should that backbone be used?  Not an easy question to answer and likely my answer will upset many economists […]

The GOP’s extortion demands: cut Social Security or we’ll shoot the country in the foot The GOP created the fiscal cliff beginning with the “temporary” tax cuts passed in 2001, 2003 and 2004 under the Bush administration, all as purportedly temporary provisions with sunset dates.  They hoped that the passage of the tax cuts would, […]

by Linda Beale Tax Relief for Victims of Sandy The IRS released several bulletins this week providing relief for victims of Hurricane Sandy.IR-2012-83 extends the return filing and tax payment deadline to Feb. 1, 2013 for hurricane  victims in Connecticut (Fairfield, Middlesex, New Haven, and New London Counties; the Mashantucket Pequot Tribal Nation and the […]

by Linda Beale GOP didn’t like the study on impact of tax cuts on economic growth The Congressional Research Service has long been respected as a non-partisan research organization that does in-depth studies as requested by Congress.  But when those non-partisan studies produce results that don’t jive with the right-wing mythology about tax cuts as […]

Via Barry Rithotz at The Big Picture comes Bruce Bartlett’s take on : Bruce Bartlett and the dangers of Republican know-nothingism  Bruce Bartlett goes off on some of the denialist behavior from the GOP. Bartlett writes: When a study doesn’t support their dogma, the GOP censors it: Nonpartisan Tax Report Withdrawn After G.O.P. Protest Original study […]

by Linda Beale Romney’s CRUT Tax Shelter\ The Bloomberg press has looked further at Romney’s use of trusts and other arrangements to avoid taxes, using Freedom of Information Act requests to obtain more information than was released by Romney in his meager tax return release. Romney established a charitable trust in 1996 of a type […]

by Linda Beale Growing inequality calls for both “predistribution” and (rightly directed) redistribution In putting forward my theme of democratic egalitarianism, I have often noted that there is no such thing as an economically egalitarian society–there will always be differentials among people, those differences often relate to social class and the education, privileged upbringing, and […]

by Linda Beale Romney’s Tax (Mis)Calculations: if your two and two don’t add to four, pretend the Laffer curve gives you more Anybody watching last night’s presidential debate surely became aware at some point that Romney’s so-called “plan” for economic growth is an empty shell based on the idea that he’s made money for himself […]

by Mike Kimel The 1964 Tax Cuts and  Economic Growth – Paul Ryan Edition  During last week’s Vice Presidential debates, Paul Ryan stated: “Jack Kennedy lowered tax rates, increased growth.”  There was some commentary about Biden’s response (“Oh, now you’re Jack Kennedy.”) but just about everyone seems to miss what I think is the important point. Take […]

by Linda Beale If Europe Adds a Financial Transactions Tax, Will We Follow? Has the time come for the US to impose a financial transactions tax?  It would have several positive features.  First, it would raise revenues, which are sorely needed for everything from climate change action to infrastructure improvements to aid for needy families.  […]