Senate passes budget — first for four years

Senate passes budget — first for four years

By: Ginger Gibson
March 23, 2013 07:24 AM EDT

The Capitol is pictured in the morning light. | AP PhotoIn the early morning hours Saturday after almost 13 continuous hours of voting, the Senate passed a budget resolution for the first time in nearly four years.

The proposal, which Democratic drafters say will reduce the deficit by $1.85 trillion between spending cuts and tax increases, passed narrowly 50-49 on a largely partisan vote at 4:56 a.m.

A handful of Democrats, all up for reelection next year and representing conservative states, voted against the measure: Sens. Kay Hagan (D-N.C.), Mark Pryor (D-Ark.), Max Baucus (D-Mont.) and Mark Begich (D-Alaska). Sen. Frank Lautenberg (D-N.J.) was absent. Continue reading “Senate passes budget — first for four years”

How the Party Platforms Differ

How the Party Platforms Differ

By Published: September 4, 2012

The platform that the Democratic Party plans to approve Tuesday at its convention in Charlotte, N.C., offers a stark contrast to the platform that Republicans approved last week at their convention in Tampa, Fla., especially on social issues like abortion rights and same-sex marriage, the future of entitlements like Medicare and Social Security, and labor policy and taxes. Here is a look at some of the crucial differences.

Robyn Beck/Agence France-Presse — Getty Images

A worker checked the stage at the Time Warner Cable Arena before the start of the Democratic National Convention in Charlotte, N.C., on Tuesday. Continue reading “How the Party Platforms Differ”

Mitt Romney exited Bain Capital with rare tax benefits in retirement

Mitt Romney exited Bain Capital with rare tax benefits in retirement

By , Published: September 2

Before Mitt Romney retired from Bain Capital, the enormously profitable investment firm he founded, he made sure to lock in his gains, both realized and expected, for years to come.

He did so, in part, the way millions of other Americans do — with the tax benefits of an individual retirement account. But he was able to turbocharge the impact of those advantages and other tax breaks in his severance package from Bain in a way that few but the country’s super-rich can ever hope to do.

Poll: Income Inequality Too High, Rich Aren’t Paying Fair Share of Taxes

 

08/28/2012; Tula Connell

 Rich Dont Pay Enough TaxesThe U.S. public sees a danger in the nation’s growing income inequality and says the rich don’t pay their fair share of taxes (click on chart to enlarge), according to a new Pew Research Center survey released yesterday.

Nearly six in 10, or 58 percent, say the rich don’t pay enough in taxes, while 26 percent believe the rich pay their fair share and 8 percent say they pay too much.

Further, roughly two-thirds of Americans (65 percent) say the income gap between the rich and poor has gotten larger in the past decade. And 57 percent also say this is a bad thing for society (3 percent say this is a good thing). Continue reading “Poll: Income Inequality Too High, Rich Aren’t Paying Fair Share of Taxes”