Debating Tax Reform
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From the Center
Why the GOP Could Take Obama’s Corporate Tax Proposal Seriously
President Barack Obama‘s budget for next year, released Monday, is filled with ideas, programs and proposals with prospects for adoption by the new Republican-controlled Congress that range from dismal to zero.
Then there is corporate tax reform.
It may seem illogical to direct hopes for agreement toward one of the most far-reaching and politically fraught proposals on the president’s wish list, but, in fact, there are two big forces that can pry open the door to at least a serious bipartisan discussion on corporate tax reform this year. The first...
From the Left
Congressional Republicans declare Obama’s budget dead on arrival
Republican members of Congress on Tuesday declared President Obama's $4 trillion budget plan to be a legislative nonstarter, as they decried new taxes it would require to pay for an ambitious slate of proposed programs.
"It's dead on arrival," said Sen. John McCain (R-Ariz.).
Sen. Tim Scott (R-S.C.) called it "unrealistic -- completely."
Obama's plan, which includes calls for new early-education programs and free community college tuition, among other things, would require new tax revenue from the wealthy Americans and large corporations to fund the initiatives.
From the Right
The Complex Maze of Obama's Tax Reform
Obama wants to cap your retirement.
Inside his new budget he is proposing to cap qualified retirement savings at $3 million.
That's how much the White House figures it would take to generate $200,000 worth of income annually. However the problem with such an approach as investment news points out as that and in the historic low interest-rate environment it takes more money to produce $200,000 worth of income which is all you apparently
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