Higher Tax Rates Won’t Boost Revenue

By: Nick Ottens (Diary)  |  August 3rd at 09:57 AM  | 

President Barack Obama and his Democratic Party would have liked to increase taxes as part of a “balanced” approach to deficit reduction. Republicans, adamantly opposed to raising taxes, especially during a time of fragile economic recovery, managed to prevent immediate tax hikes although revenue enhancement could be part of a broader plan that is supposed to be worked out by a bipartisan congressional committee later | Read More »

Fact Checking the President on Tax Policy

By: Nick Ottens (Diary)  |  September 16th at 02:34 PM  | 

Elizabeth MacDonald of the Fox Business Network fact checks President Barack Obama on tax policy, disputing his claims that his tax cut will benefit the whole of the middle class whereas Republicans would favor tax relief for “millionaires and billionaires.” Some excerpts: Taxpayers making $250,000 or more are considered middle class in many urban areas with a high cost of living, and are not as | Read More »