The Embarrassment of Riches

9-9-9: The Most Massively Regressive Redistribution of Taxes Ever Seriously Considered Jared Bernstein (via Mark Thoma): Herman Cain’s 9-9-9 tax plan is Classic Republican agenda.

Republican Bait-and-Switch on Taxes

Republican Bait-and-Switch on Taxes: “Thus we see that Republicans want their cake and eat it too. They want to use higher [CBO] revenue projections resulting almost entirely from expiration of the Bush tax cuts to prevent any discussion of tax increases to reduce the deficit, while implying that this revenue rise comes solely from faster …

Yes, Macroeconomics 101 is Correct

“Some Simple Deficit Reduction Arithmetic”: Kash Mansori notes that it takes more than a $100 cut in government spending to cut the deficit by $100. The reason is fairly simple. A cut in government spending causes output and income to fall, and the resulting fall in tax revenue increases the deficit offsetting some of the …

Cutting Down the Forest But Keeping the Trees

Cutting Government Spending May Be Popular But There Is Little Appetite For Cutting Specific Government Programs: “Cutting government spending often sounds like a good idea to many people, and it is a popular rallying cry for many Republicans and Conservatives, but a new Harris Poll underlines how difficult it is. When shown a list of …

Does The U.S. Really Have A Fiscal Crisis?

Does The U.S. Really Have A Fiscal Crisis?: “But the problem here is bipartisan – as it was with the tax cut last year.  None of the leadership on either side is willing to talk openly about how our biggest banks caused great fiscal damage.  No one is willing to explain why our healthcare costs …

Obama: A Non-Compromise Compromise?

So Obama decides to go the “This $hit is chess; it ain’t checkers” route.  Gangsta for the middle.  I like. It should be interesting to see if the mass middle will support him.  Obama’s already painting the GOP as the bad guys.  The thinking goes this way: my agenda that protects the middle class will …

Three Steps Toward a Balanced Budget

Three Steps Toward a Balanced Budget: “Our personal and national relationship to debt is indeed a moral issue. Leaving our children to pay the bills for excessive spending cannot be justified. But, if a budget really is a moral document, how we reduce the deficit is also a moral issue. Our budget should not be …

Why Our Tax Code?

Why Our Tax Code?: “But if you are the rich people in a democratic society where most people believe in reduced inequality, what kind of tax code do you want? You want to start with an overall progressive structure (so the people won’t revolt), and then you want a boatload of exceptions to that structure that …

Competing Tax Plans: Two Perspectives – Freakonomics – Opinion – New York Times Blog

Competing Tax Plans: Two Perspectives – Freakonomics – Opinion – New York Times Blog: (Via Freakonomics – Opinion – New York Times Blog.) I love freakonomics. Looking at the complete set of graphs breaks down each candidates’ tax plans. It clearly lays out the candidates’ priorities.