Taxes

Why are "capital gains" taxes so much lower than taxes on other income? The reason capital gains taxes are lower is because most of the income of the rich is from capital gains. And the reason most of the income of the rich is from capital gains is because capital gains taxes are lower.

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Republican presidential candidate Mitt Romney has unveiled a "Jobs Plan." CAF's Bill Scher celebrates with his post, Romney "Jobs" Plan Latest Attempt To Copy Bush, The Worst Jobs President Since Hoover, more »

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The Contract for the American Dream consists of 10 critical steps to get our economy back on track:
I. Invest in America's Infrastructure
II. Create 21st Century Energy Jobs
III. Invest in Public Education
IV. Offer Medicare for All
V. Make Work Pay
VI. Secure Social Security
VII. Return to Fairer Tax Rates
VIII. End the Wars and Invest at Home
IX. Tax Wall Street Speculation
X. Strengthen Democracy

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Just ten years ago this country was running huge surpluses and paying off its debt. But then we elected Obama and all hell broke loose. more »

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Step back from the day-to-day, hour-to-hour details of the debt-ceiling negotiations for a minute and look at the bigger picture. Look what we're in the middle of. Our legislators are being stampeded by a manufactured "crisis" into profoundly changing the nature of our country and who our economy is "for," on extremely short notice, against the clear wishes of the majority of the public. They are doing so without following the long-established process for due consideration of important issues; they are not holding hearings, not giving time for public input, not going through committees... The act of negotiating with these hostage-takers at all is itself a violation of our established, democratic system. The question to ask is not, "What painful cuts should we agree to to save our country," but rather, "Why are we engaged in this anti-democracy exercise at all?"

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Our deficit and debt came from cutting taxes on the rich and big corporations, increasing military spending and sweetheart deals with big pharma and health insurance companies. Elite “solutions” always involve cutting back what We, the People do for each other while keeping taxes low for the rich and big corporations. The latest “Gang of 6” solution is being pushed hard, manipulating a sense of inevitability, but is just more of the same. Don't be fooled, there is significant opposition. Grassroots organizations oppose it, progressives in Congress oppose it and The American Majority opposes it. But you won’t hear that from our elite media.

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Yesterday evening I attended an event sponsored by my U.S. Representative, Jim Moran (D-VA). I accepted an invitation I received from his email list to a community forum called "Principles & Priorities: How would you balance the budget?" more »

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Ten years ago we were on a path to paying off the country's debt. In fact, if we had stayed on the same trajectory the debt might be paid off already. But then we cut taxes even more, and raised the military budget even more, and the deficits and resulting debt exploded. more »

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Have you seen the People's Budget discussed in the media? Nope. Have you heard that we need to be more "business friendly" by cutting taxes on the rich and cut the things We, the People do for each other? Yep. Did you know that polls show the public overwhelmingly wants taxes on the rich and government spending on jobs? Nope. Why is that?

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It is ten years since the Bush tax cuts passed. When Bush took office (and never forget the Supreme Court's 5-4 role in that) The Onion famously declared, “Our long national nightmare of peace and prosperity is finally over.” They had no way to know how prescient they were. Now we are living the real nightmare.

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