Relevant and even prescient commentary on news, politics and the economy.

Policymic debate is happening on increasing taxes for the rich

I want to pass this forum and debate along at Policymic to readers. There are a number of excellent people in the comments section as well. There’s a great debate happening now between libertarian Harvard Professor Jeff Miron and Center for American Progress tax specialist Michael Linden on the hot topic of whether we should […]

Unforced Error, or How Well Has That Worked Out for You, BarryO?

PGL, in the process of an optimistic piece, points us to Martin Feldstein ringing in 2011. Apparently, the reason is this: The most substantial potential boost to spending comes from a temporary reduction of the payroll tax, lowering the rate paid by employees on income up to about $100,000 from 6.2 per cent to 4.2 […]

A tax thought…A Modest Tax Proposal

by Tom aka Rusty Rustbelt A Modest Tax Proposal The GOP is all breathless about deficits, but this is the same GOP of Dubya Bush that fought a war in Iraq (unnecessary) and Afghanistan (overextended) funded entirely by debt. So, the following proposal. A 3% surtax on taxable incomes over $75,000 until the cost of […]

Fear-Mongering Over the US Budget Deficit

Cross-posted at The Street Light. Absurd news today from S&P’s credit rating analysts, who have apparently been drinking liberally from the Deficit Crisis Kool-Aid: NEW YORK (MarketWatch) — Standard & Poor’s cut its ratings outlook on the U.S. to negative from stable on Monday, lighting a fire under Washington’s deficit-reduction debate and sending stock markets […]

Guest post: Crisis in public education…RJs newsletter

Guest Post by RJS Crisis in public education School districts around the country have been hit with a triple whammy of cuts to their funding this year… First, the direct aid in the form of federal ARRA has run its course, so they’re no longer receiving that supplement. Second, the states have budgetary problems for […]

Continuing Resolution reductions

Talking Points Memo points us to a nine page chart specifying which programs are sustaining funding cuts in the Continuing Resolution reductions as published by the Republicans on the House Appropriations Committee. (h/t rjs) (h/t MG) The original documents from the House Committee on Appropriations are located here. These include the legislation text, legislation summary, […]

Don’t savings lower the deficit?

AP’s Andrew Taylor describes a part of the federal budget debate that needs clarification for the average voter and others regarding this current round of ‘negotiations’: Some $18 billion of the spending cuts involve cuts to so-called mandatory programs whose budgets run largely on autopilot. To the dismay of budget purists, these cuts often involve […]

Spending transparency for the federal government

OMB Watch reports here and here on the Transparency Through Technology: Evaluating Federal Open-Government Initiatives : Transparency Through Technology: Evaluating Federal Open-Government Initiatives and testimony here. OMB Watch recommends six changes Congress and the Obama administration should make to USAspending.gov, the government’s spending website which is based off of one of their websites, FedSpending.org. Making […]