taxes

The Tax Revolt Is Over in CA

Yesterday's vote to pass Prop 30 - by a larger margin than most observers expected - does more than just provide $6 billion of badly needed funding to the state's public schools. It brings to a close a 34-year long tax revolt that came very close to destroying California's middle class, locking its low income families into permanent poverty, and left the state on the edge of financial ruin. And while there is still a lot of work ahead to overturn the legal and constitutional legacies of the tax revolt, it no longer has political power.
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What Romney's Tax Plan Means for VA

Today's Romney University video from former Congressman Tom Perriello is What Romney's tax plan means for Virginia. It is based our joint report with the Center for American Progress Action Fund.
Though Gov. Romney and Rep. Ryan repeatedly refuse to say which specific tax breaks they would eliminate or reduce, the Tax Policy Center calculates that these major tax benefits for middle-class families would have to be reduced by 58 percent to pay for his tax cut for the rich.
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Colbert Destroys Romney’s Tax Plan in One Question

Exactly the question that reporters need to ask him on the campaign trail. Or a voter in tonight’s town hall style debate.
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Repackaging Mitt

Up until now, Romney’s stories on the campaign trail have been about business successes — people who started businesses in garages and grew their companies into global giants, entrepreneurs who succeeded because of grit and determination, millionaires who began poor. Horatio Alger updated.
Curiously absent from these narratives have been the stories of ordinary Americans caught in an economy over which they have no control. That is, most of us.
At least until now.
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Congress Built It: The Fiscal Cliff

Sunday morning’s papers are replete with details about the sequester—automatic, across-the-board spending cuts to the tune of about $110 billion in 2013—scheduled for next January. They’re the lesser part of the much-lamented fiscal cliff, which also includes the expiration of the Bush tax cuts and a bunch of other cats and dogs. If we go over and stay over, there’s a good chance our already wobbly economy would be whacked back into recession.
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B: CA: Anti-Tax Groups Get Ready for Big Push in November

While President Obama won't be spending a lot of time here in October, you can bet there will be a lot of money spent here.
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