Catherine Wolfram: Future regulations place substantial uncertainty on future bills, so that simple assumptions that project a flat or increasing value of bill savings over time (in real terms) may not be accurate.
Steve Hochstadt: epublican proposals in the Senate and House, created mainly by Romney’s VP selection, Paul Ryan, lower taxes on the wealthy in two whopping chunks: the top tax rate drops from 35% to 25%, and all taxes on capital gains disappear.
Robert Reich: Most of the gains from the productivity revolution are going to the owners of capital, while typical workers are either unemployed or underemployed, or else getting wages and benefits whose real value continues to drop.
Robert Reich: I worry about the well-financed big lies that the very rich are the nation’s “job creators,” that the benefits from tax cuts on the rich “trickle down” to everyone else.
Robert Reich: Now that Mitt Romney is the presumed Republican candidate, it’s fair to ask how he made so much money ($21 million in 2010 alone) and paid such a low tax rate (only 14.9 percent).
Robert Reich: So here’s the deal: We’ll reelect you. We’ll stand behind you. We’ll give you a mandate to do all this – and more – in your second term. As long as you stand behind us.
Robert Reich: The more irresponsible his bomb-throwing, the more attractive Gringrich becomes to a sizable portion of Americans so fed up they feel like throwing bombs.
Robert Reich: Agreement or not, Washington is on the road to making budget cuts that will slow the economy, increase unemployment, and impose additional hardship on millions of Americans.
Robert Reich: All flat-tax proposals benefit the rich more than the poor for one simple reason: Today’s tax code is still at least moderately progressive. The rich usually pay a higher percent of their incomes in income taxes than do the poor. A flat tax would eliminate that slight progressivity.
Robert Reich: By continuing to push and prod we give hope to countless Americans on the verge of giving up. We give back to them the courage of their own convictions, and thereby lay the groundwork for a future progressive agenda
Robert Reich: You can bet Republicans will continue to harp about the large portion of low-wage earners who pay no income taxes — without mentioning that they pay a higher portion of their incomes than anyone else in payroll and sales taxes.
Robert Reich: Happy Birthday Wall Street. Party away. Just know that most Americans aren’t joining the celebration.
Robert Reich: The Republican strategy is to split the vast middle and working class – pitting unionized workers against non-unionized, public-sector workers against non-public, older workers within sight of Medicare and Social Security against younger workers who don’t believe these programs will be there for them, and the poor against the working middle class.