Raising taxes on income over $250,000 remains a broadly popular approach to dealing with the country’s budgetary woes, according to a new Washington Post-ABC News poll. Sixty percent of all Americans back higher taxes on higher incomes in the new Post-ABC data. … Other proposed solutions to shrinking the debt […] Read more »
When talk was of investing in public good
Washington negotiations to avert the “fiscal cliff” now include the role that tax increases could play in addressing the federal budget deficit. Serious cracks are appearing in the Republican lawmakers’ anti-tax firewall, as fewer new GOP legislators are signing Grover Norquist’s pledge and some high-profile signatories are questioning it. Norquist […] Read more »
Two-thirds say fiscal cliff poses major problem
… Two-thirds of people questioned in a CNN/ORC International survey … say that the U.S. would face a crisis or major problems if the country went off the “fiscal cliff” at the end of the year, and if that happened, Republicans in Congress would probably receive the greater share of […] Read more »
A mandate to help the middle class
The focus in Washington has now shifted to the fiscal cliff, with the White House and Congress, particularly the House Republicans, staking out negotiating positions on the expiring Bush tax cuts and the looming budget sequester. The White House’s firm opening salvo—and House Speaker John Boehner’s grudging admission that he […] Read more »
Study Questions Tax Breaks’ Effect on Retirement Savings
Every year, the government spends more than $100 billion on tax breaks to encourage Americans to save more for retirement. But a new study suggests such provisions may have little effect on the amount Americans save. … The researchers – Raj Chetty and John N. Friedman of Harvard, Soren Leth-Petersen […] Read more »
Polls offer little guidance for politicians tackling ‘fiscal cliff’
… In one of the most enduring features of Washington’s two years of gridlock over fiscal issues, a flood of pre- and post-election polling shows little change in the public’s divided — and at times conflicted — attitudes about what should be done to avert the $500 billion in tax […] Read more »