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”

Mitt, Meet the 47%

AFL-CIO Now

 

09/18/2012; Donna Jablonski

Mitt, Meet the 47%

Just who was Mitt Romney referring to in his secretly recorded comments at a Boca Raton, Fla., fundraiser as people who don’t “take personal responsibility and care for themselves”?

(Data source: www.cbpp.org/cms/index.cfm?fa=view&id=3505#_ftn9.) Continue reading “Mitt, Meet the 47%”

Stop Paul Ryan & Mitt Romney From Writing Checks to Millionaires

 

Stop Paul Ryan & Mitt Romney From Writing Checks to Millionaires

Did you know that Paul Ryan recently voted to give a huge tax cut to millionaires and billionaires — effectively handing them an average check for $160,000?

Did you also know that Mitt Romney wants to double down and give an even bigger tax break to millionaires? Continue reading “Stop Paul Ryan & Mitt Romney From Writing Checks to Millionaires”

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