Tag: Tax Plan
(For more on the fiscal cliff negotiations check out David’s discussion with Charlie Mitchell, #TAN Editor-in-Chief, in the first half hour of last week’s radio show here or continue on.)
The 112th Congress reconvenes Nov. 13 with nothing less than the fate of the U.S. economy on the line.
In play in November and December: the expiring Bush tax cuts, an expanding alternative minimum tax poised to capture more and more middle class taxpayers, the expiring payroll tax cut that has been a boon to middle class households during the recession, cuts in physician reimbursements under Medicare, and the looming budget “sequestration,” which will automatically cut just under $50 billion in federal spending beginning in January and $500 billion over 10 years.
Republican nominee Mitt Romney was proclaimed the winner of the Oct. 3 presidential debate by wide swaths of the media, while President Obama’s performance was criticized by his own allies. On a policy level, however, Romney’s comments on Medicare, health care in general and taxes appeared to represent a significant shift to the center – and away from the alliance he’s tried to nurture with the tea party movement. This, more than Obama’s downcast demeanor, is likely to carry real implications for the rest of the presidential contest.