This week, the Congressional Budget Office (CBO) provided just the latest analysis confirming that U.S. income inequality is at record levels. But while the income gap is at largest in 80 years even as the total federal tax burden is at its smallest in 60, the 2012 Republican presidential field is proposing to make both […]

Back in August, Americans learned that among Rick Perry's miserable grades in college was a "D" in "Principles of Economics." Now we know why. His contribution to the GOP's flat tax one-upsmanship not only fails to simply the U.S. tax code. As it turns out, Governor Perry's "Cut, Balance and Grow" scheme would undermine Social […]

During the debate over the American Recovery and Reinvestment Act (ARRA) in early 2009, stimulus opponent Senate Republican Minority Leader Mitch McConnell proposed, "If the money were lent rather than just granted, states would, I think, spend it wisely and the states that didn't need it at all wouldn't take any." Now would be a […]

Here's a handy cheat sheet for those trying to make sense of the protest movements of the past three years. Tea Party followers were mad about losing the 2008 election; Occupy Wall Street demonstrators are angry about losing the American Dream. But for defenders of the Tea Party, that unhappy band of especially ardent Republicans, […]

On Thursday, House Speaker John Boehner took Barack Obama to task for the President's claim that he had not yet seen a jobs plan from Republicans. "I want to make sure," Boehner lectured the President, "you have all the facts." As it turns out, this is one of those rare occasions where John Boehner is […]

These are tough times for Ronald Reagan's heirs, or at least some of them. After a generation of disastrous supply-side tax cuts helped produce mountains of debt, plummeting upper-income tax rates a decades-low federal tax burden and record income inequality, thousands of Occupy Wall Street protesters nationwide are finally drawing attention to the plight of […]

In their never-ending attempts to prevent upper-income tax increases at all costs, Republicans have bemoaned the mythical impacts on small business owners and supposed "job creators." But in pointing out that the Democrats' proposed millionaires' tax to fund the American Jobs Act would disproportionately hit the gilded-class in Blue State America, the right-wing's latest gambit […]

As the Occupy Wall Street demonstrators House Minority Leader Eric Cantor called "mobs" took their protests to cities around the country, Republican frontrunners Mitt Romney and Herman Cain denounced the rallies as "class warfare." Meanwhile in Washington, President Obama signaled his support for a 5.6% tax surcharge on annual incomes over a million dollars in […]

Back in April 2009, Daily Show host Jon Stewart summed up the Tea Party movement, "I think you might be confusing tyranny with losing." His description, it turns out, was exactly right. Tea Partiers complained they were "Taxed Enough Already" despite virtually all receiving tax relief from President Obama and America seeing the total federal […]

This week, Vice President Joe Biden inadvertently turned the heat up on his boss - and warmed conservative hearts - when he declared it's "totally legitimate" for the 2012 presidential election to be "a referendum on Obama and Biden and the nature and state of the economy" because "we're in charge." His candor and willingness […]