Posts tagged ‘budget’

March 15, 2013

What’s truly wrong with the Ryan Budget

Paul RyanBy , The Washington Post

The tax plan embedded in the House Republican budget would cut taxes by $5.7 trillion over the next decade, with the benefits flowing disproportionately to very wealthy households, according to a new analysis by the nonpartisan Tax Policy Center.

Taxpayers earning more than $1 million a year would benefit the most from the GOP tax plan, the analysis shows, reaping an average $400,000 tax break that would send their after-tax income soaring by nearly 20 percent.

Meanwhile, taxpayers earning between $40,000 and $50,000 a year —

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February 14, 2013

Dems’ Sequester Replacement Meets with Predictable Response

Republican Health Care SolutionsSenate Democrats will soon release a bill to counter massive cuts from the looming sequestration. In short the bill will institute a minimum tax rate for millionaires and eliminate some tax subsidies, specifically those subsidizing crop insurance for large farms, a program the CBO says will cost upwards of $90 billion over the next decade.

Predictably, the Senate’s much criticized minority leader Mitch McConnell, has come out against the proposed bill saying,

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October 17, 2012

Armchair Debating Mitt Romney

The 2nd presidential debate last night was nothing if not exciting and tension filled. The Obama we knew from 2008 was back with fervor while Romney fought back hard to maintain his momentum and success from the first debate. There were several moments of clear disagreement or misunderstanding of the facts between the two candidates. Romney pressed the president on oil and gas permitting, the actual events surrounding the attack in Benghazi, budget deficits and immigration. The President, while much improved this time around, was unable to fully push back. So to play a bit of armchair debating and employ a healthy dose of 20/20 hindsight let’s revisit a few of these issues from last night.

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August 2, 2012

The Daily Scoop: Paul Ryan’s Budget Challenged to Show how it’ll Lower Health Care Costs

Rep. Paul Ryan’s (R-WI) proposals to control health care spending by slashing the federal government’s contribution to Medicare and Medicaid and shifting that spending on to future retirees or the states, has dominated Washington’s conversation about entitlement reform.

But on Thursday morning, a group of health care economists and former Obama administration officials laid out an alternative approach that could achieve health savings by encouraging providers to deliver care more efficiently.

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May 8, 2012

Daily Scoop Xtra: Ryan Budget May Cut Economic Data

Starting in the early 1990s, the U.S. Census Bureau asked Congress for extra funding each year so it could better analyze the services sector, which was quickly replacing industrial activity as the biggest driver of the U.S. economy. In 2003 the bureau requested more funding to survey financial, real estate, and other companies on a quarterly basis, rather than wait to take their pulse with its Economic Census, which gathers data on business every five years.

Every year, Census asked for the extra funds; every year, Congress denied them the money, leaving the Census Bureau largely blind to the health of a sector that made up more than half the total economy.

Finally, in early 2009, after the real estate-fueled financial crisis, Congress gave Census what it had been asking for—an extra $8.1 million. In the view of many, it was too late.

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May 8, 2012

The Daily Scoop: Government’s 1st Monthly Budget Surplus in 3 Years

As the budget battles in Washington begin anew, it seems the importance of tax revenue for repairing the national debt problems has been quite clearly illustrated. It’s also worth postulating, with the regaining of virtually all the jobs lost under the Obama Administration does it not stand to reason that putting people back to work where they contribute to the tax base is the best way to reduce the debt spending? 

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April 24, 2012

Europe’s Woes Prove GOP Wrong

Anyone frustrated with the drawn out economic recovery here in the US should cast a gaze across the Atlantic for a view of how it could have been. In the European Union we have a unique opportunity to catch a glimpse of where this country would be had we chosen the path of severe spending cuts rather than a road stabilized by economic stimulus. 

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