tax cuts for the rich

Obama's Tax Cut for the 1% (and Everyone Else, Too)

On Monday, President Obama revived his proposal to cut taxes on income below $250,000 a year -- which the GOP immediately decried as class warfare. The odd thing is, as "class warfare" goes, Obama's proposal would actually give all the wealthy a pretty solid tax break.

Tax Compromise: Why Something Was Better Than Nothing

If a compromise by definition is a deal that pleases no one, then the tax deal that cleared Congress Thursday was a rousing success: Conservatives and liberals both dislike it, but those who voted for it agreed that the alternative -- letting taxes rise for everyone -- would have been worse.

Obama's Tax Deal Will Save At Least One Job: His

The $858 billion compromise tax bill passed the House Thursday at midnight, and is on its way to President Obama's desk. With its passage, and the GDP growth it will propel, his reelection is more in the bag than ever. What effect it will have on jobs for the rest of America, though, is far less clear.

Pimco: The Tax Deal Will Boost Economic Growth

If the tax deal reached between congressional Republicans and President Obama is ratified, it most certainly will add to the budget deficit, but according to Pimco, which manages the world's largest bond fund, the stimulative measure will contribute much to economic growth.

Why One Liberal Favors Obama's Tax Cut Compromise

DailyFinance writer Jon Berr sees much to like in the compromise President Obama reached with congressional Republicans on taxes and unemployment compensation. And while he'd never call it perfect, as he notes, the American voters elect politicians to get stuff done, which this plan does.

Who Loses Under the Tax Deal? The Working Poor

When President Obama defended his tax cut compromise with Republicans, he insisted that he was helping working people avoid taking a pay cut. But as tax experts look at the full package more closely, it has become clear that the working poor will actually end up losing money.

Americans Deeply Divided Over Tax-Cut Extensions

While most people support extending at least some of the George W. Bush-era tax cuts due to expire this year, a new Gallup/USA Today survey finds that Americans are deeply divided on which cuts should continue -- and for how long.