Romney plans to raise taxes on retirees, working poor and veterans

On “Face the Nation” Sunday, Republican New Jersey Governor Chris Christie said that Mitt Romney will lay out a plan during Wednesday’s debate to raise taxes on retirees, veterans and the working poor. Face the Nation host Bob Schieffer asked Christie about a video that’s surfaced of Romney slamming 47 percent of Americans who don’t

Romney’s 47 Percent Don’t Pay Taxes Lie

I can’t say for certain that Romney is lying, he could just be wrong, but let’s assume that Romney is as brilliant as he claims to be. If that’s the case, Romney is a lying piece of garbage when he says 47 percent of Americans don’t pay federal income taxes and are therefore dependent on

Tax Cut Bill Contains $55 Billion in Industry Subsidies and Giveaways

The Washington Post’s Dan Eggen has a story today about the $858 billion tax-cut compromise hashed out between President Obama and his Republican colleagues last week. It’s wending its way through Congress right now. Eggen reports that buried inside the legislation is more than $55 billion worth of “giveaways and tax reductions from some of

Minimum Wage Lower Than it was in 1968

Adjusting for inflation, the minimum wage today is lower than it was in 1968. “If you’re one of the several million Americans earning minimum wage, here’s a sobering fact: Your grandpa had more spending power earning minimum wage four decades ago,” writes Life Inc’s Senior Business Reporter Allison Linn. “Adjusted for inflation,” Linn reports, “the

White House Shows How to Save Money on Your Taxes (Video)

Despite what right-wing fringers like Bill Kristol and Glenn Beck say, the White House hasn’t raised taxes and they even show you have to take advantage of new tax cuts. From the White House: “Did you know that there are more than a dozen Recovery Act tax cuts working families can take advantage of this

Friedman on the fence

The New York Times columnist Tom Friedman likes to position himself as a centrist. He’s pro-war, pro-environment, pro-business, and I guess against deficit spending. I usually agree with about 60 percent of what he writes. The problem is that he works too hard to sit precariously on the fence. In today’s column he says that deficit spending is bad and that liberals will have to sacrifice some of their social programs to balance the budget, but as usual Friedman overlooks the glaring $500 billion defense budget.