Tag Archives: tax cuts

Tax cuts won’t spur the recovery

Dean Baker, co-founder of the Center for Economic and Policy Research, says Romney economic advisers Kevin Hassett and Glenn Hubbard got it all wrong in a Washington Post opinion piece published Wednesday.

Lowering marginal tax rates, as Hassett and Hubbard suggest, would do nothing to boost the economy, Baker writes in a commentary on econobytes.

“In short, it is difficult to see how the tax policy being promoted by Governor Romney will have much of a positive impact on investment and growth, especially if it is accompanied by further cutbacks in government spending. While the Obama administration’s stimulus policy was clearly inadequate to make up for the shortfall in demand created by the collapse of the housing bubble, Governor Romney’s plan is not likely to do any better,” Baker says.

No surprise that the founder of a progressive think tank would differ from the Romney camp. Nonetheless, Baker offers an interesting counterpoint to the Hassett-Hubbard suggestion that lower marginal tax rates are need to boost business investment.

Click here for Baker’s commentary.

Click here for the Hassett-Hubbard commentary.

Reagan and Obama: Champions of necessary tax increases

Columnists often lift quotes from political speeches to illustrate the point they’re trying to make. I’ve done it myself many times — it’s an excellent way to add emphasis to what you’re writing.

RONALD+REAGAN.jpgHowever, keeping the quote in context isn’t always easy. A case in point, David Moon’s column in Sunday’s News Sentinel. In the April 24 column, Moon used a quote from President Barack Obama to draw a contrast between Ronald Reagan’s tax reform policies and the current president’s financial reform policies.Obama+Tax+Cuts.jpg

The Obama quote — from a speech just about a year ago — has been widely repeated by the president’s political opponents who want to paint him as a socialist. Unfortunately, the quote is often taken out of context.

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Tax breaks for rum, race horses and windmills

If you are a fan of tax breaks — the more obscure the better — spend a little time this holiday weekend reading the tax law President Obama signed recently.

There are tax breaks for windmills, rum subsidies, race horses and other goodies.

Or check out this story. It’s a quicker read.

More on the tax cuts from the White House White Board:

Tax Cuts, Unemployment Insurance & Jobs

Obama and the billonaires brainstorm about economy

The economy got a double dose of good news today — retail spending was up foObama+Tax+Cuts.jpgr the fifth straight month in November and inflation remains in check.

But the best news for the economy may have been President Obama’s meeting at the White House with some folks who know how to make money — Warren Buffett and Bill and Melinda Gates.

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Tax cuts or tax hikes? Clearing up the confusion

If you find recent political yammering about tax cuts/tax increases confusing, it’s not surprising.

Safety+Patrol+TGrip+4+CG.jpgPolilticians of all persuasions — Democrats, Republicans, Tea Party, whatever — have a vested interest in clouding the debate. But the media also shares a big dose of blame for the confusion.
 

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Will the GOP help small business?

President Obama on Monday urged the Republicans to support passage of a small business aid package ASAP when they get back to Washington after Labor Day.

So far, Republicans have threatened a filibuster and otherwise kept the package of small biz tax cuts and financial aid from being considered. Kind of bizarre when you consider small business is generally considered a loyal supporter of the Republican Party.

Here’s hoping Tennessee Republicans Sens. Bob Corker and Lamar Alexander will break with the party and help small business.

Blame the wealthy — then make ’em pay

Rich Americans need to get on the ball. The recovery is slowing down and it’s all their fault.

If they don’t start spending — and I mean really spending — some economists think their tight-fisted attitude could push the economy back into recession.

Sounds kind of selfish, to me. A true patriot would be willing to spend freely to get the economy bustling again.

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