[net-gold] UNITED STATES: GOVERNMENT : TAXES AND TAXATION: Tax Measures May Be Doomed, But They Clarify Parties' Goals
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, Educator Gold <Educator-Gold@xxxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, Net-Gold <net-gold@xxxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports Tourism <healthrecsport@xxxxxxxxxxxxxxxx>, Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Tue, 17 Apr 2012 07:41:05 -0400 (EDT)
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UNITED STATES: GOVERNMENT :
TAXES AND TAXATION:
Tax Measures May Be Doomed, But They Clarify Parties' Goals
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Tax Measures May Be Doomed, But They Clarify Parties' Goals
By Lisa Mascaro, Washington Bureau
April 16, 2012, 11:20 p.m.
Los Angeles Times
http://www.latimes.com/news/nationworld/nation/
la-na-congress-tax-strategy-20120417,0,2678978.story
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A shorter URL for the above link:
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http://tinyurl.com/86no4dc
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WASHINGTON During a week when voters are acutely aware of how much they
owe Uncle Sam, Congress is conducting a series of votes that crystallize
the sharply different approaches the two parties take toward taxes and the
economy.
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Democrats support President Obama's "Buffett rule," a proposed new tax
rate on individuals making more than $1 million a year, as a way to boost
federal revenue and ensure that wealthy Americans pay their fair share of
taxes.
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Republicans are pushing a new tax break for smaller businesses, a
reflection of their supply-side philosophy that maintains that tax cuts
will spur companies to create jobs.
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Both proposals are essentially dead on arrival in this divided Congress.
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On Monday, Republican-led opposition blocked the Buffett rule in the
Senate, though Democrats probably will try again. The House is expected to
approve the business tax break later in the week, but the proposal
probably will stall in the Senate, where Democrats have an alternative in
mind.
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The measures' dim political prospects have not stopped lawmakers from
using them to offer sneak previews of what they would do if their parties
were to win the race for the White House and expand their ranks in the
House and Senate.
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In a sense, the votes this week offer a prelude to the tough choices
coming after the November election, when Washington faces an unusual
confluence of events. If the George W. Bush-era tax cuts expire at the end
of the year as scheduled, taxes would rise sharply. Severe spending cuts
from last summer's debt ceiling deal are due to kick in. And Congress will
be in the politically difficult position of needing to increase the
nation's borrowing capacity to pay the nation's bills.
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"At its heart, this important debate and the Buffett rule is about
setting priorities," Senate Majority Leader Harry Reid (D-Nevada) said
Monday.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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