Accountancy
American privilege comes with a cost — but is it too high?
Treasury Secretary Timothy Geithner made what some have called an outrageous claim about the roles of American citizens and their government, in calling for the most fortunate Americans to bear the burden of the privilege of being an American by paying higher taxes. Is it a privilege to be an American? And if so … what does that privilege cost?
A Closer Look at the GOP’s Payroll Tax Cut Deal
After months of squabbling, congress has reached a tentative deal on an extension of the payroll tax cut and jobless benefits that would last until the end of the year. Initially the GOP said they would not approve an extension unless it was financed by other spending cuts, but have since rescinded that position. So […]
Top of the Hour: Senate Democrats Push Payroll Tax Cut, Morning Headlines
President Obama is supporting a plan by Senate Democrats to extend the current payroll tax cut for employees and employers. The tax cut, which is set to expire at the end of the year, would be offset with a two percent surtax on incomes of $1 million or more.
Dueling Tax Cut Extension Plans Fail in the Senate
Neither Democrats’ nor Republicans’ plans for extending payroll tax cuts passed the Senate on Thursday. The former proposed to extend tax cuts on federal withholdings like Social Security and unemployment for employers and employees; the latter wanted to freeze federal worker’s pay until 2015 and reduce that workforce by ten percent. While the respective failure of […]