Intoxination

Tag: tax cuts

Dec 14
2011

(non)SHOCKER! Execs Been Getting HUGE Raises

News

While Americans keep seeing their wages go down, the big business CEO’s are getting even fatter wallets: Chief executive pay has roared back after two years of stagnation and decline. America’s top bosses enjoyed pay hikes of between 27 and 40% last year, according to the largest survey of US CEO pay. The dramatic bounceback […]

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Dec 12
2011

Gingrich Tax Plan Would Increase Deficit

Misc

Newt Gingrich’s tax plan does give almost everyone a tax break, but some more than others. Can you guess which ones? People earning more than $1 million a year would receive an average tax cut of $613,689 in 2015, compared with what they pay now. That change would boost their after-tax income by 28.7 percent […]

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Dec 2
2011

A 1%er Explains The Facts About Job Creation

Economy

Nick Hanauer, a very successful venture capitalist, has a must read OpEd in Bloomberg News. In it he explains the very fundamentals of economics: I can’t buy enough of anything to make up for the fact that millions of unemployed and underemployed Americans can’t buy any new clothes or enjoy any meals out. Or to […]

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Nov 21
2011

David Frum Attacks The Right, The Right Rewrites History AGAIN!

Politics

David Frum has a very lengthy piece in the New York Magazine in which he asks “When Did the GOP Lose Touch With Reality?”. One part that really stuck out at me was this: It was not so long ago that Texas governor Bush denounced attempts to cut the earned-income tax credit as “balancing the […]

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Oct 25
2011

CBO: Yes Income Disparity Has Grown

Politics

A new report by the Congressional Budgeting Office finds the following: CBO finds that, between 1979 and 2007, income grew by: 275 percent for the top 1 percent of households, 65 percent for the next 19 percent, Just under 40 percent for the next 60 percent, and 18 percent for the bottom 20 percent. Actually […]

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Oct 14
2011

The Rightwing 53%ers Want To Tax The Disabled, Including Veterans

Economy

The other day I covered how the 53%ers are apparently against the very policies they have advocated for years. The 47% of people not paying federal income tax do so in a large part because of the Bush tax cuts and we know the right has been a long time advocate of those tax cuts. […]

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Oct 11
2011

Republicans Against Republican Policies

Politics

I have been tied up the last several days helping my sister get her new house ready so I am a little behind the news. Today I find out the wingnuts have decided to launch their own response to Occupy Wall Street, a movement called the 53%. These are Republicans against the 47% of Americans […]

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Aug 23
2011

Ben Stein Crushes Bill O'Reilly Over Taxes

Economy

When you have one of the best known conservative writers on economics go after the standard GOP talking points that we need more tax cuts for the rich, you know that the right is in trouble. On Bill O’Reilly, Ben Stein did just that: Dave Edwards offers this awesome outtake from this confrontation: O’Reilly went […]

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Jun 22
2011

Politics Before Economy

Politics

People who believe the Republicans want to turn this economy around are sadly mistaken: The concern arises as numerous top Republicans react coldly to the prospect of temporarily reducing the payroll tax burden on employers and employees — to juice the economy before federal spending draws down in the years ahead. Traditionally, and particularly in […]

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Jun 15
2011

A Chart Worth 1,000 Words

Economy

Bob Cesca has posted the following chart, showing how the share of income labor sees is at a historic low: What’s interesting is how much the share dipped during the Bush years. During Clinton’s term, the rate was on the rise, after a substantial fall during the Reagan and Bush 41 years. So what does […]

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