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Tax Cuts

NEWS
December 1, 2012 | By Jonathan Tamari, Inquirer Washington Bureau
WASHINGTON - President Obama didn't name names Friday in Hatfield, but some of his allies are doing just that. They are singling out Republican congressmen from suburbs around Philadelphia, with ads and rallies pushing them to break ranks and get behind Obama's call to extend middle-class tax cuts while making the wealthy pay more. Close on the heels of the president's visit, liberal and labor groups have planned demonstrations Saturday targeting U.S. Reps. Jim Gerlach of Chester County, Pat Meehan of Delaware County, and Charlie Dent in Lehigh County.
NEWS
December 1, 2012 | By Rita Giordano, INQUIRER STAFF WRITERS
President Obama is making history this afternoon, becoming the first U.S. President to speak in front of an American flag made of 49,000 K'nex pieces. At 11:30 a.m., Marine One landed at the Rodon Group plant, in Hatfield, Montgomery County, and a crowd of about 350, including company employees, awaited his arrival at the toy factory. "Its'a once-in-lifetime experience for the people here," said company designer Rob Simon, 52, of Plumsteadville, Bucks County. He said that while he didn't vote for the President, "You've got to respect his position regardless of party affiliation.
NEWS
December 1, 2012 | By Thomas Fitzgeraldand Rita Giordano, INQUIRER STAFF WRITERS
In a campaign-style visit to a Montgomery County toy factory Friday, President Obama warned that Republicans in Congress were on the verge of giving millions of Americans a "lump of coal . . . a Scrooge Christmas" by refusing to renew the lower Bush-era tax rates for those making less than $250,000 a year. The GOP is holding tax cuts for the middle class "hostage" to preserve them for the rich, he argued, adding that as far as he is concerned, any negotiated deal to avoid the fiscal cliff must increase tax rates on the wealthy.
NEWS
November 30, 2012 | By Lori Montgomery, Washington Post
WASHINGTON - Negotiations to avert the year-end fiscal cliff advanced at a glacial pace Wednesday, with a dispute over how to tackle the soaring cost of federal retirement programs emerging as the latest roadblock to progress. Democrats complained that Republicans have yet to name their price for enacting legislation that would preserve tax cuts for the vast majority of Americans next year while raising revenue from the wealthiest 2 percent. Republicans, meanwhile, insisted that it is up to President Obama to offer a plan to restrain the cost of Medicare, Medicaid, and Social Security - the government's biggest and fastest-growing programs - in exchange for GOP concessions on taxes.
NEWS
November 29, 2012
a7209tm--a bc-cliff-obama,1175,1175 TRANSLATED BY: deftext.xrul ORIGINAL WIRE: 121127211442A.0 Obama Plans Direct Appeal to Populace on 'Fiscal Cliff' Proposal (wap) (ATTN: National editors, Financial editors) David Nakamura (c) 2012, The Washington Post. WASHINGTON - The White House signaled Tuesday that it will attempt to marshal the momentum from President Barack Obama's re-election triumph into another victory at the negotiating table, launching a full-fledged public relations effort to avoid a "fiscal cliff" that could jolt the nation back toward recession.
NEWS
November 29, 2012
By Jan C. Ting The "fiscal cliff" is a confluence of three legal changes taking effect Jan. 1: the expiration of a payroll-tax cut, the expiration of the Bush-era tax cuts, and the advent of mandatory spending cuts known as "sequestration. " Many commentators have expressed concern that unless Congress intervenes by the new year, the economy will suffer significantly. But I don't think going "off the cliff" is the worst thing that could happen. First, the payroll-tax cut is going to expire in any event.
NEWS
November 28, 2012 | By Jonathan Tamari, Inquirer Washington Bureau
WASHINGTON - In case anyone missed it, President Obama and his allies had a reminder for lawmakers returning to work Monday: the fiscal cliff is coming, and it will take a massive bite out of the middle class unless a deal is reached by Dec. 31. The message was delivered anew by a White House report showing that looming tax hikes could cost middle-income families $2,200 and take a $200 billion chunk out of consumer spending, slowing economic growth....
NEWS
November 27, 2012
MY HUSBAND AND I tithe to our church, meaning we give 10 percent of our income. We also donate money to various charities. Our giving results in a tax break because we itemize on our tax return. Would we give less if we didn't have the tax deduction? I'm confident we wouldn't. We give because we believe it's the right thing to do for folks who are fortunate enough to have money to give. Having the tax deduction is a bonus, but one that has never driven us to give more or less. I'm actually a bit turned off when a charity tries to persuade us to give by overly emphasizing with the standard phrase, "Your donation is tax-deductible.
NEWS
November 24, 2012
By Jonathan Zimmerman Taxes won't reduce consumption. They violate Americans' "right to choose. " And they put a disproportionate burden on racial minorities. Those were the claims deployed by the beverage industry to defeat proposed soda taxes in Philadelphia in 2010 and 2011. They also surfaced during the past election season in California, where two cities rejected taxes on sugary soft drinks. But the forefather of these arguments is the cigarette industry, which used almost exactly the same rhetoric for a half-century to resist taxation and regulation.
NEWS
November 20, 2012 | ASSOCIATED PRESS
NEW YORK - If Washington allows tax cuts to expire at the end of the year, taxes on dividends will nearly triple for the highest-paid Americans. That's led some experts to warn of a looming collapse for popular dividend-paying stocks. When Uncle Sam charges a higher tax on something, they reason, it drives people away. But judging by the country's previous experience taxing dividends, that may not be how things play out. "Historically, big changes in taxes just have no effect on dividend stocks," says James Morrow, a fund manager at Fidelity Investments.
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