taxvox.taxpolicycenter.org - 1/6/2009
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The soon-to-be Obama Administration floated quite a trial balloon over the weekend: $300 billion in tax cuts for workers and business over the next couple of years. When you get past the eye-popping number, perhaps the most striking element is how conventional most of the ideas are. For ...
online.wsj.com - 1/5/2009
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online.wsj.com —
[Obama Eyes $310 Billion Tax Cut] Getty Images
President-elect Barack Obama and congressional Democrats are crafting a
plan to offer as much as $310 billion of tax cuts.
(more)
Obama Eyes $300 Billion Tax Cut
nakedcapitalism.com - 1/5/2009
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nakedcapitalism.com —
The Wall Street Journal has sent a news
alert that says that Obama is mulling a stimulus
plan that will rely more heavily on tax cuts than initially envisaged as a way to win needed Republican support. The Journal says tax cuts could be as much as ...
(more)
Obama Considering $310 Billion Tax Cut
Comments
Blog Reactions
Progressive Breakfast: Tax Cut Pushback
LiberalOasis : The Blog —
... TaxVox's Howard Gleckman: "On the business side, Obama aides leaked three ideas. The first: extending bonus depreciation, another Bush measure that would allow companies to write-off the cost of equipment faster. The second: giving companies immediate refunds by letting them use using last year’s losses to reduce prior year tax liabilities. Idea #3: giving businesses a refundable tax credit for each new worker they hire or even each employee they don’t lay off. The net operating loss idea makes some sense. But other than trying to buy votes from pro-business Capitol Hill ...
More stimulus notes
Paul Krugman —
... is out. Above is its forecast for the GDP gap — the hole stimulus has to fill. I’d guess that the CBO estimate, which has unemployment averaging 8.3 percent in 2009 and 9 percent in 2010, is actually too optimistic (see 3, below), but even so it puts the Obama plan in perspective: a 3% of GDP plan, with a significant share going to ineffective tax cuts, to fill an 8% or more gap. 2. How ineffective? Howard Gleckman of the Tax Policy Center says Lots of Buck, not Much Bang . 3. The official BLS numbers won’t be out until Friday, but the ADP jobs estimate, based on private ...
Hullabaloo —
... And why the opening gambit on business tax cuts that are highly unlikely to help much? Bob Borosage, who is anything but reflexively critical toward Obama, ...
"Obama's $300 Billion Tax Cut: Lots of Buck, Not Much Bang"
AMERICAblog News| A great nation deserves the truth —
Krugman points out an analysis of the proposed $300 bn tax cut that suggests it's a lot of nothing. I think Obama is right - we need this stimulus, fast, and it had better be massive. But devoting nearly 40% of the stimulus to non-stimulus tax-pork, in an effort to woo Republican votes, seems at odds with the notion that this is an emergency. It is becoming increasingly difficult to justify devoting 40% of the stimulus plan to non-stimulus spending. Either we have a national emergency or we don't. It's time we cut the talk of "but Obama promised he'd cut ...
The revenge of Rahm
Brilliant at Breakfast —
... made a point of praising Howard Dean while introducing Virginia Governor Tim Kaine as the new DNC head, but I think the good doctor deserves a lot more than this kind of a bone, after laying the groundwork in 2004 for the kind of organization that delivered the White House to Barack Obama this year. Instead Dean is just another progressive being thrown under the bus in the name of "bipartisanship", which as we all know, really means "capitulation to Republicans in all things."
Note to Self: The Tax Cut Component of the Obama Fiscal Plan
J. Bradford DeLong's Grasping Reality with All Eight Tentacles —
... TaxVox: the Tax Policy Center blog :: Obama's $300 Billion Tax Cut: Lots of Buck, Not Much Bang: The soon-to-be Obama Administration floated quite a trial balloon over the weekend: $300 billion in tax cuts for workers and business over the next couple of years. When you get past the eye-popping number, perhaps the most striking element is how conventional most of the ideas are. For individuals, they’d include some version of Obama’s Making Work Pay Credit, a refundable tax credit (aka cash payment) for everyone making roughly $200,000 or less. Obama aides did not say ...
Related Content
The $300 Billion Tax Cut That Isn't
suitablyflip.com 1/6/2009 — I railed about this on Strategy Room this morning, but I need to get it down on paper screen or it's going to continue to gnaw at me.
Barack Obama's ostensible $300 billion tax cut is anything but. It's being used as a lure, in order to - well, lure ...
Bang for the buck (wonkish)
krugman.blogs.nytimes.com 1/14/2009 — Mark Thoma says he was thinking about thinking about this; I was actually thinking about it. Anyway, it's true: the cost of an effective fiscal stimulus, in terms of adding to the government's debt, can (and should) be much less than the headline ...
$300 Billion in Tax Cuts?
talkingpointsmemo.com 1/5/2009 — I'm going to dig more into the details on this tomorrow. But this is starting to sound like a pretty big chunk of the stimulus bill is aimed at garnering GOP support.
I really hope we're not putting the cart before the horse here.
And these ...
NYT: Obama plan includes $300 billion in tax cuts
msnbc.msn.com 1/5/2009 — President-elect Barack Obama plans to include about $300 billion in tax cuts for workers and businesses in his economic recovery program, as his team seeks to win over Congressional skeptics.
300,000 Apply for 3,300 Obama Jobs
nytimes.com 12/6/2008 — The excitement about an Obama administration has fueled the record number of applicants, although the unraveling economy may be adding its own boost. >
Weatherization Gets Best Bang For The Stimulus Buck
huffingtonpost.com 2/19/2009 — "The most important high tech tool of the new green economy," Van Jones likes to say, often pausing for dramatic effect, "is the caulk gun." Not photovoltaic panels or wind turbines, not lithium batteries or advanced biofuels, but the tool you can get for $17.99 at Home Depot. Considering the ...
Bush Obama now talking $300 bn in tax cuts
americablog.com 1/5/2009 — Plus ça CHANGE... But don't worry, if we just appease the Republicans this once, they'll stop being mean to us. President-elect Barack Obama plans to include about $300 billion in tax cuts for workers and businesses in his economic recovery program, ...
Short-timers in the Senate —
CNN Political Ticker 1/6/2009
Vice-President Dick Cheney will swear in VP-elect Joe Biden.
WASHINGTON (CNN) – The disputes over the Illinois and Minnesota Senate seats are stealing the spotlight, but there'll be other drama on Capitol Hill during today's swearing in of ...
Richardson withdrawal disappoints Latinos —
CNN Political Ticker 1/6/2009
New Mexico Gov. Bill Richardson was a Democratic presidential contender in the primaries.
(CNN) — Bill Richardson's withdrawal from his commerce secretary nomination Sunday didn't just leave a major gap in the new administration, but it also ...
Transition: How Panetta's playing —
First Read 1/6/2009
The Washington Post : “President-elect Barack Obama stunned the national intelligence community by selecting Clinton White House chief of staff Leon E. Panetta, a longtime Washington insider with little intelligence experience, to serve as the ...
Agenda: Wooing Republicans —
First Read 1/6/2009
The L.A. Times plays up the positive comments Congressional Republicans made about the tax cut plans within Obama's stimulus plan.
The Washington Post also led with Obama's efforts to woo congressional Republicans. "Obama officials said they ...
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