With the rise of the Occupy movement and confirmation from the nonpartisan CBO that the U.S. income gap is at its highest level since 1929, defensive conservatives by necessity spawned a thriving if laughable cottage industry in income inequality denialism. Now with word from the New York Times that the share of income for the […]

When House Speaker John Boehner denounced Democratic proposals to fund a payroll tax cut extension through a surtax on millionaires as a "job-killing tax hike on small businesses," he might have wanted to check with some first. As NPR revealed yesterday, the Congressional Republicans they consulted, including in the House and Senate leadership, "were unable […]

If nothing else, former House Speaker and new GOP front-runner Newt Gingrich is all about keeping his options open. After all, Newt has gone through three religions and three wives. As it turns out, when it comes to Medicare, Social Security and the tax code, President Gingrich wants Americans to have options as well. In […]

When President Obama on Tuesday declared that decades of Republican trickle-down economics "never worked," conservatives were predictably apoplectic. But for all of their protests of "class warfare", "socialism" and worse, Obama was being kind to the Republican ideologues. After all, as the historical record shows, from economic growth and job creation to stock market performance […]

Last year, Republicans successfully waged a scorched-earth campaign to preserve at all costs the Bush tax cuts for the richest two percent of Americans. Back then, Arizona Senator Jon Kyl defended the Treasury-draining, $70 billion a year windfall for the wealthy by proclaiming, "you should never have to offset the cost of a deliberate decision […]

When Newt Gingrich proposed his 15 percent flat-tax scheme in October, the plan like the former House Speaker himself was viewed as an afterthought in the GOP presidential race. But now that Gingrich is the new Republican frontrunner, his tax cut proposal is finally getting the scrutiny it deserves. Because like fellow flat-taxers Herman Cain […]

The Wall Street Journal greeted the failure of the Congressional debt super committee with an editorial titled, "Thank You, Grover Norquist." That gratitude should have surprised no one. After all, Norquist's anti-tax pledge led handcuffed committee Republicans not just to oppose even modest tax increases on the richest Americans, but to demand another tax cut […]

Two weeks ago, House Speaker John Boehner protested that the characterization of his Republican Party as "servants of the rich" was "very unfair." But after the GOP torpedoed any debt reduction deal from the Congressional super committee including "any penny" in new tax revenue from the richest Americans, Boehner's complaint seems all the more pathetic. […]

For years, what passes for Republican economic policy has been dominated by "necessary lies," that is, statements which conservative ideology requires to be true despite being demonstrably false. Despite decades of GOP mythmaking, tax cuts don't pay for themselves or increase revenue. Employment and the overall U.S. economy grew faster when America's so-called "job creators" […]

Without any action by Congress, on January 1, 2013 the Bush tax cuts will expire. That would not only return the top income rate from 35 percent to its Clinton boom-era level of39.6 percent. It would also produce almost $4 trillion in new revenue over the next decade, easily dwarfing the $1.2 trillion target now […]