Posts Tagged ‘taxes

26
Jan
14

The President’s Fiscal Record

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Paul Krugman: Obama And The One Percent

Another week, another outburst by a one-percenter comparing progressive taxation to Nazi atrocities. Anyway, thinking about this sort of thing makes me realize that there’s a danger, especially for progressives, of confusing the proposition that Obama’s billionaire haters are stark raving mad — which is true — with the proposition that Obama has done nothing that hurts the plutocrats’ interests, which is false. Actually, Obama has been tougher on the one percent than most progressives give him credit for.

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Start with taxes. The Bush tax cuts haven’t gone completely away, but at the very high end they have been pretty much reversed; plus there are additional high-end taxes associated with Obamacare. The result is that taxes on wealthy Americans have basically been rolled back to pre-Reagan levels. No, Obama isn’t Hitler; but he is turning out to be a little bit of FDR, after all.

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Perfect response to Krugman’s piece by a commenter named John

Nice to see you giving a bit of credit to the president and his team for a change. Yes he’s gradually pushed the top rates back to pre Reagan levels and he’s done it largely by stealth. It also needs to be pointed out that, despite all the endless hyperventilating, Federal spending levels IN REAL TERMS is 50% higher than it was when Clinton was in office in 2000. Partly this is a consequence of the war in Afghanistan but quite a lot of it is goodies handed out by Bush as cover for his tax cuts. In fact in overall terms Obama has been very effective at protecting overall federal spending despite a relentless assault. In a way the Republicans have reason to be ticked. When Obama leave office his progressive credentials are going to be looking pretty good even if the far left are disappointed that paradise has been postponed yet again.

Turning to Kristallnacht Perkins, you do have to wonder what the WSJ was thinking. I’ve seen lots of loopy letters there over the years but this was a beaut. Since it’s a conservative own goal, I suspect the letters editor will be getting bawled out by Gigot. How unfortunate.

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17
Jan
14

Rise and Shine

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Happy Birthday to the best First Lady, America has been fortunate to have at the White House. Wishing First Lady Michelle Obama long life, happiness, love, laughter, and prosperity.

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Presidential Daily Schedule (All Times Eastern):

11:0 AM EST: President Obama delivers remarks on signals intelligence programs, Department of Justice

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Brian Beutler: Desperate, Last-Ditch Effort For Obamacare Haters Fails

After the Supreme Court upheld Obamacare in 2012, most reasonable people assumed the right had missed its one big shot at using the courts to destroy the law. But Obamacare mania isn’t an ailment that afflicts reasonable people, and so conservatives turned their attention to an even more far-fetched legal challenge.  The short version is that if you take one phrase of the Affordable Care Act statute out of context,

it appears as if the law does not provide for premium tax credits on federally facilitate exchanges. Conservatives are thus asking the courts to invalidate and prohibit Obamacare subsidies in all Healthcare.gov states.

Well, a D.C. District Court judge has looked at this argument, and concluded that it’s total nonsense. I obviously agree. And if you agree, too then you also must conclude that the challengers and their supporters are either dishonest or so blinded by Obamacare hatred that they’ve lost the ability to read. There are no other interpretations.

More here

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Edward-Isaac Dovere: Obama To Nominate First Black Lesbian Judge In 20 Years

President Barack Obama has already nominated more African-American judges and more LGBT judges than any previous president. On Thursday, he’ll announce the nomination of Staci Michelle Yandle, the first African-American lesbian federal judge he’s picked. Yandle, who’s in private practice, will be Obama’s pick for the district court for the Southern District of his home state of Illinois.

If confirmed, that would make her the first African-American judge ever on that court, and the first openly gay judge in the 7th Circuit, which covers Illinois, Indiana and Wisconsin. There’s another first among the four new nominees Obama will announce Thursday: Salvador Mendoza, Jr., currently a county Superior Court judge in Washington state, will be Obama’s pick for the district court for the Eastern District of his state, where he would be the first Hispanic judge in that position.

More here

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The Republic: Superior Court Judge Salvador Mendoza Jr. Of Tri-Cities Nominated To Become Federal Judge

A state judge from the Tri-Cities has been nominated by President Obama to become a federal judge for Eastern Washington. Salvador Mendoza Jr. was nominated on Thursday, and would be the first Hispanic to serve as a federal judge in Eastern Washington.

Sen. Patty Murray, D-Wash., says Mendoza has an inspiring life story, including working as a migrant farm worker in the Yakima Valley. Mendoza has been a Superior Court judge for Benton and Franklin counties since last year.

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USA Today: OFA Sponsors Spring Fellowships

Organizing for Action, the political group set up to push President Obama’s political agenda, is looking to expand its roster.

OFA is launching what it calls a “Spring Fellowship program,” assigning more than 60 veteran organizers to train more than 1,400 new volunteers to promote items such as an immigration bill and Obama’s health care law.

“It’s about making sure that voices on our side are heard, and people are held accountable,” said Jon Carson, executive director of OFA.

The trainers — which include OFA alumni, long-time volunteers, and former fellows — will be located in 22 states. They will train fellows who hail from at least 29 states (plus Washington, D.C.), and range from college students to adults making their first foray into politics.

The program, which includes data and digital training, runs from Feb. 8 to April 15.

More here

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Reuters: Senate Approves $1.1 Trillion Bill To End Government Funding Battle

Washington’s battles over government funding ended with a whimper on Thursday as the U.S. Senate approved a $1.1 trillion spending bill that quells for nearly nine months the threat of another federal agency shutdown.

The measure, which funds thousands of government programs from the military to national parks through the September 30 fiscal year-end, passed by a strong, 72-26 majority. President Barack Obama is expected to sign it into law.

The vote came exactly three months after the end of a 16-day government shutdown in October that was waged over disputed funding of “Obamacare,” the president’s signature health care law.

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Jonathan Cohn: Obamacare’s A “Bailout” Now? Conservative Critics Are Getting Desperate

Conservatives used to say Obamacare is socialized medicine. Now they say it is a “government bailout” of insurers. The new claim is just as misleading and cynical as the old one.

The latest conservative plaything is a pair of previously obscure Obamacare features: “reinsurance” and “risk corridors.” ….

…. Conservatives might object to reinsurance and risk corridors on principle, regardless of amounts involved. That would be a perfectly legitimate argument, except for one thing: Reinsurance and risk corridors are already a feature of some government programs, most prominent among them Medicare Part D…

What’s that? You haven’t heard Republicans attacking Medicare Part D an insurer bailout? Maybe that’s because of one other, obvious difference between Part D and the Affordable Care Act. Only one of them was signed into law by a guy named Barack Obama.

More here

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Julie Pace: AP Source: NSA Phone Data Control To Come To End

President Barack Obama on Friday will call for ending the government’s control of phone data from millions of Americans, but will not offer a plan for where the information should be held, a senior administration official said. While the move would mark a significant shift for the National Security Agency’s controversial bulk phone record collection program, it’s unclear how quickly the plan could be carried out or whether it will ultimately need congressional approval. The government will continue to hold the data for now, though Obama is ordering that, effective immediately, a judicial finding will be required to access the information.

Obama will announce the decisions in a highly anticipated speech at the Justice Department. The official said the president will call on the attorney general and intelligence community to recommend where to move the data before March 28, when the collection program comes up for reauthorization. The official says the administration will also consult with Congress on the data transfer. Privacy advocates say moving the data outside the government’s control could minimize the risk of unauthorized or overly broad searches by the NSA.

A presidential review panel proposed moving the data to the telephone companies or a third party. However, the phone providers have balked at changes that would put them back in control of the records, citing liability concerns if hackers or others were able to gain unauthorized access to the records. The moves are more sweeping than what many U.S. officials had been anticipating about the president’s surveillance decisions.

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USA Today: 20 subpoenas Issued In N.J. Bridge Scandal

A newly formed special state committee investigating the George Washington Bridge scandal issued 20 subpoenas Thursday, including several to key staff members of New Jersey Gov. Chris Christie. The legislative committee sent subpoenas to 17 individuals and three institutions. None was immediately named.

Assemblyman John Wisinewski, who is leading the investigation, said no names would be revealed until the recipients were officially served. That could happen Friday. A New Jersey Senate committee is also investigating whether Christie’s top advisers orchestrated or covered up lane closures near the bridge for political purposes.

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The Hill: AP Gives Award To Reporters Of Untruthful ‘Spanglish’ Story

The Associated Press’s recent error-filled article concerning the ObamaCare Spanish-language site apparently is the best story published by the AP over the last month.

The story claimed that the site was written in “Spanglish,” but the site is actually written in proper Spanish, a fact easily discerned by any fluent Spanish-language reader.

Michael Oreskes, AP’s senior managing editor, yesterday gave a “Best of the States” award to the reporters and editors involved in the ObamaCare Spanish-language hatchet job. In an email, Oreskes exalted the high-quality reporting that created this story — above and beyond other stories produced by the AP in the last month.

…. Not only did the AP story suffer from errors of the “Spanish as a second language” variety, but also it badly stumbled on factual mistakes that could have been fact-checked on Google in seconds.

More here

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Bill Quigley: Ten Examples Of Welfare For Corporations And The Ultra-Rich

There are thousands of tax breaks and subsidies for the rich and corporations provided by federal, state and local governments, but these 10 will give a taste. 1. State and local subsidies to corporations: An excellent New York Times study by Louise Story calculated that state and local government provide at least $80 billion in subsidies to corporations. Over 48 big corporations received over $100 million each. GM was the biggest, at a total of $1.7 billion extracted from 16 different states, but Shell, Ford and Chrysler all received over $1 billion each. Amazon, Microsoft, Prudential, Boeing and casino companies in Colorado and New Jersey received well over $200 million each.

2. Direct federal subsidies to corporations: The Cato Institute estimates that federal subsidies to corporations cost taxpayers almost $100 billion every year. 3. Federal tax breaks for corporations: The tax code gives corporations special tax breaks that have reduced what is supposed to be a 35-percent tax rate to an actual tax rate of 13 percent, saving these corporations an additional $200 billion annually, according to the US Government Accountability Office.

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NYT: A First Lady At 50, Finding Her Own Path

Michelle Obama is in many ways the embodiment of the contemporary, urban, well-heeled middle-aged American woman. On Saturday night, Mrs. Obama will celebrate her 50th birthday with dancing and sweets throughout the state floor of the White House, drawing the nation’s attention away from her husband, at least for an evening. Guests will sip fine American wines, consume delicate macarons and be entertained — the expectation is by Beyoncé.

Marc Howard, whose daughter Zoe once played on the soccer team with Sasha, recalled how his daughter drained the tiny water bottle he had brought for her one hot Washington day on the field. Mrs. Obama lightheartedly chided him. “She said, ‘What kind of water bottle is that?’ and gave Zoe hers,” Mr. Howard said. “Those are things far away from the cameras.”

While Mrs. Obama has been careful not to define herself or her role strictly through race, she has paid steadfast attention to her role as a model and mentor to minority children from poor backgrounds like her own, and has built much of her policy agenda around them. “She is more self-determinative than prior first ladies because she very rarely allows herself to be drawn into distracting conversations,” said Carl Anthony, a historian of first ladies. In addition, he said, “She speaks to a demographic pretty much ignored by the White House by all first ladies except for Eleanor Roosevelt.” He cited trips Mrs. Obama has made to the Anacostia neighborhood of Washington and White House invitations she has extended to local working-class African-Americans.

More here

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On This Day:

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President Obama and First Lady Michelle Obama talk with St. Louis Cardinals first baseman Lance Berkman in the Red Room after welcoming the team to the White House to honor their 2011 World Series victory, Jan. 17, 2012 (Photo by Pete Souza)

First Lady Michelle Obama greets David Hall, one of eight Citizen Co-Chairs for the Inauguration, in the Diplomatic Reception Room of the White House, Jan. 17, 2013 (Photo by Lawrence Jackson)

01
Dec
13

Rise and Shine

President Obama pauses in the Oval Office after making a series of telephone calls to Members of Congress, Dec. 1, 2010 (Photo by Pete Souza)

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Jason Sattler: REMINDER: The Number Of Uninsured Americans Increased By 7.9 Million Under George W. Bush

The week President Obama took office, initial jobless claims, the statistic that immediately gauges layoffs, hit a 26-year high with 637,000 applying for unemployment insurance in one week. It was clear that the president was inheriting a record deficit, a cratering economy and two floundering wars. But buried in all those crises was an unspoken slow-motion disaster that people rarely mentioned: the steady crumbling of our health care system.

“When [former president Bill] Clinton left office, the number of uninsured Americans stood at 38.4 million,” Ron Brownstein wrote in 2009. “By the time [former president George W.] Bush left office that number had grown to just over 46.3 million, an increase of nearly 8 million or 20.6 percent.” The numbers were just as bad when you looked at the share of the uninsured. When Clinton left office, 13.7 percent of the population was uninsured. Bush left with 15.4 percent lacking coverage.

The New York Times‘ Paul Krugman calls the Affordable Care Act’s role in bringing health-cost growth to its lowest rate on record the law’s “secret success.” But the other secret success is how Obamacare is helping to reverse the growth of the uninsured population. This began in 2011 with children and young adults being able to stay on their parents’ plans until age 26, covering more than three million. And it continues this year with millions of Americans being added to the Medicaid rolls and millions likely to sign up for private plans, if the law’s health care exchanges begin working well enough.

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Jonathan Bernstein: The Minimum Wage And The Post-Policy GOP

At the federal level, one would think that Democrats might have some success actually passing an increase. After all, raising the minimum wage always polls extremely well, and with many state and local increases happening, it’s easy to imagine business lobbyists willing to accept a relatively modest national increase that could take a lot of steam out of those other initiatives. There’s plenty of precedent for Democrats forcing the issue by attaching a minimum wage hike to something Republicans want and managing to get it passed.

And while most Republicans in Congress surely oppose an increase, it’s not as if there’s some important principle violated by a $10 an hour minimum wage compared with $7 and change. Perhaps it will happen. But if not, the culprit is going to be, once again, the post-policy Republican Party. This just isn’t how the American political system is supposed to work. There really is an opportunity here for a deal that could enact popular policy ideas from both sides. But thanks to a dysfunctional Republican Party, it’s very hard to see it happening.

More here

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Media Matters: How Print And Broadcast Media Are Hiding Obamacare’s Success In Controlling Costs

Jason Furman: “ACA Is Contributing To The Recent Slow Growth In Health Care Prices.” In a November 20 report, economist Jason Furman, the chairman of the Council of Economic Advisors (CEA), highlighted several positive impacts of the Affordable Care Act (ACA). According to Furman, the ACA has already helped reduce waste and overpayment in Medicare that is “contributing to the recent slow growth in health care prices and spending.” Furman argues that reduced spending in Medicare is having an effect across the health care sector

Print Media Devote Only Five Stories To ACA’s Role In Slowed Costs. Since the release of the CEA report on November 20, the five top newspapers in the United States - The New York Times, The Washington Post, The Wall Street Journal, The Los Angeles Times, and USA Today - issued only five articles that mentioned the ACA’s role in slowing the growth of health care costs. In the same time period, all print outlets combined issued 67 stories focusing on other aspects of the ACA rollout, including issues with the Healthcare.gov website and cancellations of individual policies. Only two outlets – USA Today and The New York Times – issued front page stories mentioning the CEA report.

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The People’s View: The Conservative Movement’s Death Wish

However, a funny thing is happening. Conservatives have forgotten how to play the game. Or rather, what passes for conservative now is so to the right that it no longer bears any relation to reality. Thus D’Souza tweets his tweet about President Obama being a grown-up Trayvon, and that the US must “survive” him. Thus Rush Limbaugh compares the nuking of the filibuster to allowing rape. Thus every half-assed thing which comes out of a conservative’s mouth makes people who have some sense shake their heads in bewilderment.

At this point, it’s as if conservatives can’t help themselves. The fact that Obama has run rings around them in spite of their vigorous efforts has led to a psychotic break. Republicans fight Democrats with vile assertions. Republicans knife each other in purity contests. A strong, intelligent, black Democratic president who knows exactly what they’re up to, and times his attacks for maximum effect, has put them flat on their backs. They’re used to Democrats and liberals who are defensive. They’re used to the triangulations of a Bill Clinton. Barack Obama’s strength has sent them into a fugue state from which, as yet, they haven’t been able to awaken.

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Reuters: Cayman Islands, Costa Rica Sign Tax Pacts With U.S.

The United States has signed agreements with the Cayman Islands and Costa Rica to help those countries’ banks comply with an anti-tax evasion law starting next year, the Treasury Department said on Friday. The deals are part of the US effort to enforce the Foreign Account Tax Compliance Act (FATCA), which was enacted in 2010 and is set to take effect in July 2014. FATCA requires foreign financial institutions to tell the US Internal Revenue Service about Americans’ offshore accounts worth more than $50,000.

It was enacted after a Swiss banking scandal showed that 17,000 US taxpayers had hidden substantial fortunes overseas. On Thursday a former UBS banker, Raoul Weil, agreed to be extradited to the US to face charges arising from that scandal. With these two deals, both signed this week, the Treasury has now finished 12 FATCA “intergovernmental agreements” (IGAs), which help countries’ financial institutions comply with the law.

More here

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Timothy Garnder: U.S. Extends Iran Oil Sanctions Waivers To China, India, South Korea

The U.S. State Department extended six-month Iran sanctions waivers on Friday to China, India, South Korea and other countries in exchange for their reducing purchases of Iranian crude oil earlier this year. The waivers had been expected. Under a law governing sanctions imposed on Iran’s disputed nuclear program by the United States, the State Department is required to determine whether the Islamic Republic’s oil consumers have reduced their purchases.

The decision comes even after the United States and five other global powers, known as the P5+1, agreed in Geneva this month to ease Iran’s access to about $4.2 billion in foreign currency reserves for six months in exchange for Tehran’s taking steps to curb its nuclear program. The waivers, which the State Department calls exceptions, mean that banks in the consuming countries will not face being cut off from the U.S. financial system for the next six months.

Since the beginning of the sanctions regime in 2012, all 20 of Iran’s oil customers have qualified for the periodic waivers. But despite the Geneva agreement, the United States reserves the right to sanction any oil consuming country should it suddenly increase its purchases. 

More here

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Mark Barabak: Kentucky Governor Sees Health Law As Chance To Heal An Ailing State

Relations between President Obama and Kentucky Gov. Steve Beshear have not always been friendly. But leading one of the nation’s poorest, sickest states, Beshear has improbably overseen one of the most successful rollouts of Obama’s troubled healthcare overhaul and become, deep in his long public career, a hero to Democrats grasping to find a redeeming figure amid the political wreckage. “I knew if I was going to make a huge difference in the health status of Kentucky, it was going to take some kind of transformational tool to do that, and that’s what the Affordable Care Act is for me,”

Beshear, white-haired and greyhound-lean, said as he sat behind a big maple desk in his office. “I think we’ve started something here,” he later added, “that a generation from now you’ll see a very different Kentucky than what you see today. The need for care in this pretty but hard-pressed state is unarguable. Kentucky leads the nation in cancer deaths and preventable hospitalizations and suffers some of the highest rates of diabetes, cardiovascular illness and premature death. Extending healthcare to as many as possible could make a difference, the 69-year-old Beshear said, long after he is gone. “To me,” he said, “it was the morally responsible and the right thing to do.”

More here

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LA Times: The Chalice That Helped Make Possible The Iran Nuclear Deal

Many paths led to the international agreement to temporarily curb Iran’s nuclear program: secret meetings in Oman, formal negotiations in Geneva, and a quiet encounter in New York involving two diplomats and an exquisite silver chalice in the shape of a mythical winged creature. The latter session led in September to the return of the chalice to Iran, where officials hailed it as a gesture of friendship by the United States.

When Rouhani announced plans to attend the U.N. General Assembly in New York in September, Obama’s advisors decided the moment was right for a gesture. A day after Obama delivered his annual address to the world body, the American diplomat received an email from Washington, which he read at his desk three blocks from U.N. headquarters. He was instructed to find a way to return the griffin chalice to the Iranians with no fanfare before Rouhani left in two days. Two days later, Rouhani accepted a telephone call from Obama, the first such high-level contact since 1979, when militants stormed the U.S. Embassy in Tehran, taking hostages they held for 444 days.

More here

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Lisa Mascaro: GOP Promise Of Immigration Reform Fades A Year After Election

Earlier this year, as House Republicans began considering changes to the nation’s immigration laws after their party’s defeat in the presidential election, they were given a list of do’s and don’ts that updated GOP thinking on the issue. The suggestions seemed obvious to most but signaled a new tone for the Republican Party. “Don’t use the term’anchor baby’ or phrases like ‘send them all back,’” said the memo from a Republican-aligned advocacy group, the Hispanic Leadership Network.

“Do acknowledge that ‘our current immigration system is broken and we need to fix it.’” Changing the way the party talks about immigration is about all House Republicans have to show for their efforts over the last 11 months — and even that effort has notable exceptions. In fact, the House’s most visible immigration-related action was a measure to defund an Obama administration program to defer deportations of young immigrants, a vote that increased Latino animosity even though it failed to become law.

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On December 1st, 1955, Rosa Parks refused to give up her seat on the bus and her courageous act sparked the Montgomery Bus Boycott and the Civil Rights Movement that changed the course of history. We are forever grateful.

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On This Day:

Pete Souza: “He and the Vice President were headed for the short walk from the White House to the Eisenhower Executive Office building to brief Congressional leaders on his new Afghanistan strategy that he would publicly unveil at West Point that night. Secretary of State Hillary Rodham Clinton had just pulled up in her motorcade and the Vice President congratulated her that her daughter, Chelsea, had just gotten engaged.” Dec. 1, 2009

President Obama gestures while talking on the phone Oval Office prior to leaving for his speech at West Point, Dec. 1, 2009 (Photo by Pete Souza)

An ornament hangs on the official White House Christmas Tree in the Blue Room of the White House, Dec. 1, 2009 (Photo by Chuck Kennedy)

President Obama jokes with Vice President Biden and former Secretary of State Colin Powell following their meeting in the Oval Office, Dec. 1, 2010 (Photo by Pete Souza)

The President with Malia and the First Lady with Sasha wait backstage before the lighting of the National Christmas Tree in Washington, D.C., Dec. 1, 2011 (Photo by Pete Souza)

President Obama and his daughter Sasha at the lighting of the National Christmas Tree in Washington December 1, 2011

06
Oct
12

Rise and Shine

@BarackObama

OFA

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02
Oct
12

This, That (and the Other)

OFA

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Today:

2:0: Michelle Obama speaks to grassroots supporters in Cincinnati

9:25: Michelle Obama delivers remarks at a campaign event in Seattle

CBS have the first speech in their schedule, not sure whether the second one will be shown

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Detroit News: General Motors said its September sales rose 1.5 percent to 210,245 vehicles, marking its best September since 2008.

Chrysler Group LLC beat analyst expectations as its September sales rose 12 percent, while Ford Motor Co. sales remained flat in September compared to the same month a year ago.

GM said passenger car sales jumped 29 percent from the same month a year ago, while sales of mini, small and compacts shot up a combined 97 percent.

….. Chrysler reported its best September sales total in five years. The Auburn Hills automaker sold 142,041 vehicles last month; September also marked the 30th consecutive month that Chrysler has experienced year-over-year sales gains.

More here

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CNNMoney: American Express will refund $85 million for what government officials called deceptive practices involving about 250,000 customers.

The Consumer Financial Protection Bureau said Monday that American Express (AXP, Fortune 500) subsidiaries illegally charged late fees, deceived customers by promising non-existent money rewards, and discriminated against new applicants over the age of 35.

“Laws were violated at all stages of the game,” said CFPB director Richard Cordray in a statement …. In addition to refunding customers, American Express will pay a $27.5 million penalty…

More here

Thanks amk

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Quinnipiac: An 18 point lead among women puts President Barack Obama ahead of Gov. Mitt Romney 49 – 45 percent among likely voters nationwide, and voters expect 54 – 28 percent that the president will win the debates, according to a Quinnipiac University national poll released today.

…. “It is very difficult to win an election when you are getting shellacked among women,” said Peter A. Brown, assistant director of Quinnipiac.

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