fe359289e65b3fbd22d0618a15832223 Archive
Why Congress Will Borrow To Help Ukraine But May Pay For New COVID-19 Medical Costs With Offsetting Spending Cuts
May 17, 2022
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TweetShareSharePin0 Shares Why is Congress prepared to spend billions of dollars for new aid to Ukraine without requiring offsetting tax increases or spending cuts at the same time lawmakers are demanding that more COVID-19-related therapeutics and testing be fully paid for? It can’t be about the money. The next round of Ukraine aid will cost
How Democrats Who Want To Tax The Very Wealthy Are Taking A Page From Thomas Paine
May 10, 2022
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TweetShareSharePin0 Shares Did President Biden and other Democrats read 18th century revolutionary Tom Paine before they proposed their taxes on extreme wealth? Hard to know, but the striking similarities between their efforts to tax the mega-rich and Paine’s suggest they might have. It turns out that Paine, who was too revolutionary for most of his
Joe Manchin Just Made A Great Argument In Support of A Carbon Tax
May 3, 2022
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TweetShareSharePin0 Shares West Virginia Senator Joe Manchin set off environmentalists last week when he said tax credits to subsidize the purchase of electric vehicle (EV) tax credits are “ludicrous.” His argument: It makes no sense for government to subsidize EV purchases when demand for the vehicles far exceeds supply. In the short run, Manchin is
The Energy Tax Policy Conundrum: Do We Want To Reduce Fossil Fuel Prices Or Increase Them?
April 7, 2022
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TweetShareSharePin0 Shares State and federal lawmakers are debating an extraordinary range of often-contradictory energy-related tax changes. These inconsistencies have existed for years, but they rarely have been more apparent than today. We are at a time when climate experts increasingly are warning of the growing risks of unchecked fossil fuel use. Yet, we also are
The Many Ways To Tax The Rich
March 31, 2022
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TweetShareSharePin0 Shares How to tax the rich? Let us count the ways. New taxes on capital income? Higher income tax rates? A wealth tax? Some mash-up of all these ideas? All aim to raise taxes on the very rich, driven by the twin desires to boost revenue and address growing wealth inequality. But while these
Will Congress Turn Democratic Tax Hikes Into Bipartisan Tax Cuts?
March 24, 2022
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TweetShareSharePin0 Shares A funny thing happened to the trillions of dollars of proposed tax increases on corporations and high-income households that were high on the agendas of President Biden and congressional Democrats just a year ago: They seem to have, at least for now, fallen into a deep Capitol Hill hole. And they’ve been replaced
Will Congress Turn Democratic Tax Hikes Turn Into Bipartisan Tax Cuts?
March 24, 2022
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TweetShareSharePin0 Shares A funny thing happened to the trillions of dollars of proposed tax increases on corporations and high-income households that were high on the agendas of President Biden and congressional Democrats just a year ago: They seem to have, at least for now, fallen into a deep Capitol Hill hole. And they’ve been replaced
Note To Governors: Cutting Taxes Will Make Inflation Worse, Not Better
March 15, 2022
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TweetShareSharePin0 Shares Even as Republican governors blast President Biden and congressional Democrats for both causing inflation and failing to address it, they are promoting their own tax cuts that likely will add to consumer demand and raise prices. Putting more money in people’s pockets will increase demand for goods at a time of supply shortages.
Congress Should Do More Than Block Tax-Exempt Bonds For Pro Sports Stadiums
March 4, 2022
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TweetShareSharePin0 Shares Virginia’s efforts to subsidize a stadium and mixed-use commercial development for Dan Snyder and his Washington Commanders NFL football team would be a foolish waste of taxpayer money. But an attempt by three Democratic Members of Congress to block the funding scheme is misguided and short-sighted. The bill, introduced by Representatives Jackie Speier
Scott’s “Skin In The Game” Plan Could Raise Taxes By $100 Billion in 2022, Mostly On Low- And Moderate-Income Households
February 24, 2022
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TweetShareSharePin0 Shares Sen. Rick Scott (R-FL), who chairs the National Republican Senatorial Committee, has proposed an 11-point plan to “Rescue America” including this: “All Americans should pay some income tax to have skin in the game, even if a small amount. Currently over half of Americans pay no income tax.” The Tax Policy Center estimates
