Conservatives’ Tax Strategy: Use Economic Fears to Cut Taxes for the Wealthy

Conservatives’ Tax Strategy: Use Economic Fears to Cut Taxes for the Wealthy

Posted on October 23, 2012

 

Congressional conservatives have revealed their negotiating strategy for dealing with the fiscal cliff slope: scare the public and congressional Democrats into a deal that reduces the deficit through spending cuts alone. These fears have been blown out of proportion. A fiscal Armageddon will not happen on Jan. 1, 2013.

Senate Majority Leader Mitch McConnell (R-KY) and House Speaker John Boehner (R-OH) tipped their strategy when they responded to a speech by Sen. Chuck Schumer (D-NY), who called on Democrats to fight to retain Clinton-era income tax levels for upper-income households. Schumer urged Democrats to allow the top two income tax brackets to revert back to 36 and 39.6 percent (from their current levels – 33 and 35 percent) and to increase the capital gains tax rate to some level below 40 percent (from today’s 15 percent). Continue reading “Conservatives’ Tax Strategy: Use Economic Fears to Cut Taxes for the Wealthy”

Mexico arrests suspect in Fast and Furious killing

Mexico arrests suspect in Fast and Furious killing

By ASSOCIATED PRESS | 9/8/12 3:11 PM EDT

MEXICO CITYMexican federal police announced Friday that they have arrested a suspect in the killing of U.S. Border Patrol agent Brian Terry, the slaying at the center of the scandal over the botched U.S. gun-smuggling probe known as Operation Fast and Furious.

Jesus Leonel Sanchez Meza is one of the five men charged with killing Terry in December 2010 during a shootout in Arizona near the Mexico border. One is on trial in Arizona and the other three remain fugitives. Sanchez was arrested Thursday in Sonora state.

Two guns found at the scene were bought by a member of a gun-smuggling ring that was being monitored in the Fast and Furious investigation. Critics have knocked U.S. federal authorities for allowing informants to walk away from Phoenix-area gun shops with weapons, rather than immediately arresting suspects. Continue reading “Mexico arrests suspect in Fast and Furious killing”

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