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NEWS
March 18, 2013 | By Lori Montgomery, Washington Post
WASHINGTON - 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 - closer to the national average - would see their taxes cut by about $666 on average, increasing their after-tax income by less than 2 percent.
NEWS
August 2, 2012 | By Lori Montgomery, Washington Post
WASHINGTON - Mitt Romney's plan to overhaul the tax code would produce cuts for the richest 5 percent of Americans - and bigger bills for everybody else, according to an independent analysis released Wednesday. The study was conducted by researchers at the nonpartisan Tax Policy Center, a joint project of the Brookings Institution and the Urban Institute. To cover the cost of his plan - which would reduce tax rates by 20 percent, repeal the estate tax, and eliminate taxes on investment income for middle-class taxpayers - the researchers assume that Romney would go after breaks for the richest taxpayers first.
NEWS
October 3, 2012 | ASSOCIATED PRESS
WASHINGTON - A typical middle-income family making $40,000 to $64,000 a year could see its taxes rise by $2,000 next year if lawmakers fail to renew a lengthy roster of tax cuts set to expire at the end of the year, according to a new report Monday. Taxpayers across the income spectrum would be hit with large tax hikes, the Tax Policy Center said in its study, with households in the top 1-percent income range seeing an average tax increase of more than $120,000, while a family making between $110,000 to $140,000 could see a tax hike in the $6,000 range.
NEWS
September 21, 2011 | By Stephen Ohlemacher, Associated Press
WASHINGTON - President Obama says he wants to make sure millionaires are taxed at higher rates than their secretaries. The data say they already are. "Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week. "It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million.
NEWS
September 20, 2012 | By Lisa Mascaro, Tribune Washington Bureau
WASHINGTON - When Republican presidential nominee Mitt Romney said that 47 percent of Americans don't pay income taxes, he tapped into an increasingly common GOP criticism of the nation's tax code. Congressional Republicans have long balked that nearly half the country does not pay income taxes - a group they are targeting as lawmakers consider an overhaul of the tax code next year. GOP leaders have repeatedly said that all Americans should pay their fair share - "have some skin in the game," as Rep. Eric Cantor of Virginia, the House majority leader, has said, even if it's just $1. "More Than Half of U.S. Households Did Not Pay Any Income Tax in 2009," read the news-release headline from Sen. Orrin G. Hatch of Utah, the top Republican on the Finance Committee, as he testified at a tax hearing earlier this Congress.
NEWS
December 5, 2012 | By Jonathan Tamari, INQUIRER WASHINGTON BUREAU
WASHINGTON - Grabbing hold of an issue that affects paychecks across the country, U.S. Sen. Bob Casey will begin a push this week to extend a payroll tax cut scheduled to expire at the end of the year. The Pennsylvania Democrat is about to release a fact sheet showing that extending the cut would spare 122 million households from a tax hike next year. He plans to put the numbers front and center at a Thursday hearing on the fiscal cliff, hoping to raise the profile of an issue that has received scant attention.
NEWS
May 14, 2015 | By Maddie Hanna, Inquirer Trenton Bureau
MANCHESTER, N.H. - Gov. Christie attacked President Obama's economic record while calling for lower income and corporate tax rates during a speech Tuesday, the latest installment in a push to gain presidential ground in the first-in-the-nation primary state. Christie, who also called for a less restrictive approach to government regulation and a national energy strategy that would include completion of the Keystone XL pipeline, said the Democratic president's "high-tax, heavy-regulation" policies were responsible for a slow economic recovery that has taken a particular toll on the middle class.
NEWS
May 11, 2006 | By Kevin G. Hall and James Kuhnhenn INQUIRER WASHINGTON BUREAU
By week's end, Republicans in Congress will send President Bush a $69 billion package to extend low tax rates for investors and temporarily spare millions of middle-class Americans from a creeping alternative minimum tax. The package, along with a pending budget plan, would worsen an already grim long-term financial outlook for the federal government by adding to future deficits. The Bush administration says the tax cuts will spur economic growth, which will yield greater tax revenue.
NEWS
September 7, 2006 | By Todd Mason INQUIRER STAFF WRITER
Promising tax relief for the middle class, Democratic candidate Joe Sestak chided U.S. Rep. Curt Weldon (R., Pa.) yesterday for voting for tax breaks that benefit the wealthy. But the challenger got some instruction himself from supporters gathered on the front porch of a Lansdowne home. "Be madder about it," said Charlotte Hummel, a Lansdowne fund-raiser and editor of a political newsletter. "Harness people's anger, and take it to the polls. " Sestak heard her out, then responded: "It is easy to stand up here and beat up on the rich.
NEWS
August 13, 2012
There's been a blitz of TV ads in the past week paid for by Mitt Romney supporters trying to define President Obama for Pennsylvania voters. You can hardly change channels without seeing another commercial paid for by a group other than the candidate's campaign. Would it be so bad if the candidates' proxies spent as much time and money outlining the admirable traits of the person they want to be president? There's some of that, but too little. Romney, in particular, should be filling in some gaps.
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ARTICLES BY DATE
NEWS
May 14, 2015 | By Maddie Hanna, Inquirer Trenton Bureau
MANCHESTER, N.H. - Gov. Christie attacked President Obama's economic record while calling for lower income and corporate tax rates during a speech Tuesday, the latest installment in a push to gain presidential ground in the first-in-the-nation primary state. Christie, who also called for a less restrictive approach to government regulation and a national energy strategy that would include completion of the Keystone XL pipeline, said the Democratic president's "high-tax, heavy-regulation" policies were responsible for a slow economic recovery that has taken a particular toll on the middle class.
NEWS
April 14, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - The Christie administration is proposing a series of "tax policy adjustments" in its next budget to "close loopholes, increase consistency, and support fairness. " But none of them, the Christie administration says, are new taxes or tax increases. Fees and adjustments are favored terms for both parties in modern political discourse. But the tax rhetoric being used by the administration is notable, in part, because the Republican governor repeatedly attacked his Democratic rival in his reelection campaign last year for voting to raise taxes and fees "154 times" in her legislative career.
NEWS
March 26, 2013
By Aspen Gorry and Sita Nataraj Slavov In proclaiming March as Women's History Month, President Obama stated that "too many women feel the weight of discrimination on their shoulders. " Liberals often make this claim, citing the fact that women earn only 77 cents for every dollar earned by men, and call for stronger protection against gender-based discrimination by employers. Conservatives typically respond by pointing out that men and women tend to make different choices about occupation, working hours, and whether to take time off from the labor force.
NEWS
March 18, 2013 | By Lori Montgomery, Washington Post
WASHINGTON - 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 - closer to the national average - would see their taxes cut by about $666 on average, increasing their after-tax income by less than 2 percent.
NEWS
January 8, 2013
HERE'S A QUESTION: Have you seen your first 2013 paycheck (if you're lucky enough to have one)? Notice anything? Like, less money in your take-home pay? And - be honest - did you know that was coming? Or did you think that since you don't make $400,000, you were held harmless when we didn't dive off the "fiscal cliff"? "I think people will be surprised," says veteran economist David Kautter, managing director of American University's Kogod Tax Center. "It's one thing to listen to debates about taxes and spending, but it's not real until it impacts you. " You now may know that what happened to your paycheck is part of the deal between Congress and the White House.
BUSINESS
January 7, 2013 | By Harold Brubaker, Inquirer Staff Writer
Despite all the drama leading up to New Year's Day, the tax deal signed Thursday by President Obama did virtually nothing to change the trajectory of the U.S. government's debt-laden finances. The deal raised some taxes, but not enough to prevent the slow starvation of federal programs to help the poor and elderly, according to advocates for such programs. By leaving spending cuts off the table for the most part, the American Taxpayer Relief Act of 2012 set up what is sure to be an ugly fight over raising the nation's debt limit by early March.
NEWS
January 3, 2013 | By David A. Fahrenthold, Rosalind S. Helderman, and Ed O'Keefe, Washington Post
WASHINGTON - The bill was 153 pages long. It was written only the day before, by Washington insiders working in the dark of night. It was crammed with giveaways and legislative spare parts: tax breaks for wind farms and race tracks. A change to nuclear-weapons policy. Government payments for cheese. And most significant, the bill would raise taxes but do relatively little to cut government spending or the huge federal deficit. To a tea-party-influenced crop of House Republicans, the bill to resolve the fiscal cliff crisis was everything they had wanted to change about the way Washington worked.
NEWS
December 31, 2012 | Associated Press
EFFORTS TO SAVE the nation from going over a year-end "fiscal cliff" were still in disarray as lawmakers returned to the Capitol to confront the tax-and-spend crisis. A tone-setting quotation was Democratic Sen. Harry Reid's assertion that the House under Republican Speaker John Boehner had been "operating with a dictatorship. " President Obama flew back to Washington from Hawaii after telephoning congressional leaders from his Christmas-vacation perch. Once back, he set up a meeting with leaders of both parties at the White House late Friday to make a fresh attempt to find a solution before Monday night's deadline.
NEWS
December 31, 2012 | By Jonathan Tamari, Inquirer Washington Bureau
WASHINGTON - If President Obama and Congress ring in the New Year by tumbling over the fiscal cliff, the people who feel the biggest immediate impact will be those already facing some of the most dire circumstances. Emergency unemployment benefits, which help people who have been out of work for more than 26 weeks and who have exhausted their state support, will be cut off without a deal, immediately ending financial aid for more than 2 million people across the country, including roughly 240,000 in Pennsylvania and New Jersey.
BUSINESS
December 26, 2012 | By Stephen Ohlemacher, Associated Press
WASHINGTON - Workers probably won't feel the full brunt of next year's tax increases in their January paychecks, but don't be fooled by the temporary reprieve. No matter what Congress does to address the year-end fiscal cliff, it's already too late for employers to accurately withhold income taxes from January paychecks, unless all the current tax rates remain unchanged, which is unlikely. Social Security payroll taxes are set to increase on Jan. 1, so workers should immediately feel the squeeze of a 2 percent cut in their take-home pay. But as talks drag on over how to address other year-end tax increases, the Internal Revenue Service has delayed releasing income tax withholding tables for 2013.
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