News
National Journal | Obama Urges GOP to Take the Fiscal-Cliff Deal
“There’s got to be, I think, a recognition on the part of my Republican friends that, you know—take the deal,” Obama said. “They will be able to claim that they have worked with me over the last two years to reduce the deficit, more than any other deficit-reduction package.”
Roll Call | Boehner Faces GOP Caucus Backlash On 'Plan B' for Taxes and Fiscal Cliff
With both Democrats and hard-line conservative Republicans vowing to tank his “plan B” bill that would allow tax increases on millionaires, Boehner’s test Thursday will be to show the White House and Democrats that he has some control over his unruly conference as time to produce a deal averting tax hikes and automatic spending cuts runs out.
National Journal | Experts: GOP Plan B Would Lighten Tax Burden for Some Wealthy Households
Only those who earn between $200,000 and $1 million would see their federal tax burden shrink under the GOP's 'Plan B' proposal, according to analysis from the nonpartisan Tax Policy Center.
CNBC | Goodbye, Government, Under Either Fiscal Plan
The frenzied partisan horse-trading has glossed over what is arguably the central issue of any debate over long-term fiscal policy: the kind of role we expect the government to play in the nation's future.
Econ Comments & Analysis
Washington Times | MILLER: Obama’s ‘fiscal cliff’ win
House Speaker John A. Boehner is trying to salvage what he can in the showdown with President Obama over the “fiscal cliff.” To do so, he gave in to Mr. Obama’s demand to raise income tax rates.
Mercatus Center | Impartiality, Political Participation, and Federal Budget Process Reform
The Founders insisted that trust in government is essential to the stability of government and the security of rights, and that public participation in, and the transparency of, political processes are essential to the cultivation of trust in government.
Blogs
Heritage Foundation | Obama Fiscal Cliff Plan Silent on Payroll Tax Cut
This time last year President Obama said of the pending expiration of the payroll tax cut, “It may be that there’s [sic] some folks in the House who refuse to vote for this compromise because they don’t think that 40 bucks is a lot of money. But anyone who knows what it’s like to stretch a budget knows that…$40 can make all the difference in the world.”
Cato Institute | Portugal May Become the First of Europe’s Bankrupt Welfare States to Stumble upon a Genuine Recovery Formula: Less Spending AND Lower Tax Rates
Before getting too excited, it’s important to note that the Portuguese proposal is a bit gimmicky. It’s not a corporate tax rate of 10 percent, it’s a special rate of 10 percent for new investment, however that’s defined.
Reason.com | It's the Spending, Stupid!
The media obsess about tax rates, but spending is more important. As Milton Friedman taught us, spending is a far more accurate gauge of the government burden.
