Related Content: taxes

Another Doomed Exercise

On The Radar

Back in 2009 Barack Obama’s first budget called for repealing his predecessor’s tax cuts on the rich, eliminating tax breaks for multinationals and boosting the tax rate on capital gains. A year later Mr Obama repeated those proposals, and added new ones: no more breaks for fossil-fuel producers and a “financial crisis responsibility fee” on banks.
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Congress hammers out deal to extend payroll tax cut

On The Radar

Congress reached an agreement late Wednesday to extend the temporary payroll tax cut and long-term unemployment benefits for an additional 10 months as part of a $150 billion legislative compromise. Lawmakers are likely to pass the bill and send it to President Obama by the end of the week.
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The True State of Our Union: Introduction

On The Radar

Listening to Barack Obama’s lengthy State of the Union address in the same week the Republican presidential candidates held more debates in their incessant series was to visit two parallel universes. The economy is getting better. Nope, the economy is a disaster. We need to change the tax code so the rich pay “their fair share.” Oh, no: We need to change the tax code to starve Washington and put more money in all Americans' pockets. Business needs to be regulated. Business needs to be unfettered.

Mitt Romney Tax Returns Make Him a Personal Embodiment of GOP Tax Policy

On The Radar

With the release of his tax returns Tuesday, Mitt Romney has emerged as Exhibit A in a political battle likely to define the 2012 election: how to tax the rich. To Democrats, Romney is benefiting from an unfair tax code that permits a man who made nearly $21 million last year to pay just 15 percent in federal taxes. In his State of the Union address Tuesday, President Obama said those earning more than $1 million a year can afford to pay more and should send at least 30 percent of their income to Washington.

PBS NewsHour: Florida Voters Brace for Barrage of Ads as Romney, Gingrich Battle Escalates

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Judy Woodruff reports on GOP presidential hopeful Mitt Romney launching an aggressive assault on South Carolina primary winner Newt Gingrich. Then, Gwen Ifill discusses the state of the Republican field ahead of Florida's primary next week with The Rothenberg Political Report's Stuart Rothenberg and USA Today's Susan Page.

PBS NewsHour: A History of Mitt Romney's Stances on Releasing Tax Returns

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GOP frontrunner Mitt Romney came under increased pressure Wednesday from allies and opponents to release his tax information in advance of Saturday's Republican primary in South Carolina. Judy Woodruff discusses how Romney has previously handled the tax issue with Michael Kranish of The Boston Globe, then speaks with Gwen Ifill.

Romney Says He is Taxed at Around 15 Percent Rate

On The Radar

Republican Mitt Romney acknowledged Tuesday that his income tax rate is "probably closer to 15 percent than anything," suggesting that one of the wealthiest people to ever run for U.S. president pays a much lower rate than most Americans.
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Obama Praises Business-Friendly Proposals

On The Radar

President Obama praised a series of business-friendly proposals from his jobs council — the latest example of the president's strategy of seizing Republican-leaning ideas to protect himself against attack in the coming campaign. Obama's jobs council on Tuesday called for overhauling the corporate tax structure and reforming federal regulations.
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Mitt Romney Agrees to Release Tax Returns, Estimates 15 Percent Tax Rate

On The Radar

Mitt Romney bowed to political pressure on Tuesday by promising to release his federal income tax returns, while estimating the rate he pays at about 15 percent and placing himself among the wealthiest Americans who earn most of their money from past investments. Romney’s disclosure underscored the Republican presidential front-runner’s discomfort with talking about a key aspect of his biography — his money — and reignited the debate over whether his multimillionaire status makes it hard for him to relate to middle-class Americans.

Why Tea Party Freshmen Caved on Payroll Tax Deal

On The Radar

Conservative Tea Party-affiliated lawmakers spent weeks vowing to oppose the short-term compromise bill extending payroll tax cuts and unemployment insurance. But in the end, the bill glided through the House, just before Christmas. The final moments of this latest congressional showdown were fascinating not because of what happened but because of what didn't happen.
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