The Do-Little Jobs Bill
June 18, 2010
Killing a jobs bill due to deficit concerns when unemployment is flirting with double-digits and interest rates are rock-bottom is insane. On the other hand, the jobs bill isn't all that stimulative to begin with, notes Howard Gleckman: First, the bill's short-term $80 billion price tag is loose change, at least by Washington standards. It is one-tenth the size of Obama’s 2009 stimulus. And in a $14 trillion economy, its impact on the overall economy is hardly measurable.
The Return Of Shameless Bob Johnson
May 26, 2010
In what may be the perfect mix of issue, argument and spokesman, Bob Johnson has spoken out in favor of maintaining the carried interest tax loophole. To understand how rich and cosmically perfect this is, there are a couple things you need to understand. First, what is the carried interest tax loophole? It's a way for private equity managers to legally cheat on their taxes. The deal is that the manager takes most of his compensation in the form of a chunk of the profit on the investment deal he sets up.
Obama's Capital Gains Plan
April 07, 2010
Howard Gleckman points out that the top tax rate on capital gains will probably rise to 24% next year: The top rate on gains and dividends today is 15 percent. If Congress does not act between now and Dec. 31, the maximum rate on capital gains will rise to 20 percent, what it was back in 2001. The top rate on dividends will soar to 39.6 percent, its level prior to those 2001 Bush tax cuts. Obama has proposed a 2011 tax on investment of 20 percent for both dividends and gains.
February 08, 2010
The idea that Republicans haven’t had a chance to present their ideas on health care reform is a bit mind-boggling. Five separate congressional committees had hearings; each chamber had floor debates. That’s hundreds of hours the GOP had to talk about health care, all of it in public view and televised on C-SPAN. And that’s not even including all of the unofficial channels at the Republicans’ disposal.