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Entries in Tax Cuts (6)

Wednesday
Jan252012

US Video and Transcript: President Obama's 2012 State of the Union Address

THE PRESIDENT:  Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests, and fellow Americans:

Last month, I went to Andrews Air Force Base and welcomed home some of our last troops to serve in Iraq.  Together, we offered a final, proud salute to the colors under which more than a million of our fellow citizens fought — and several thousand gave their lives.

We gather tonight knowing that this generation of heroes has made the United States safer and more respected around the world.  (Applause.)  For the first time in nine years, there are no Americans fighting in Iraq.  (Applause.)  For the first time in two decades, Osama bin Laden is not a threat to this country.  (Applause.)  Most of al Qaeda’s top lieutenants have been defeated.  The Taliban’s momentum has been broken, and some troops in Afghanistan have begun to come home.

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Wednesday
Mar162011

US Politics: A Beginner's Guide to Tax Rate Reform

To tackle the deficit, the government must sharply curtail the $1.1 trillion it currently "spends" annually on exemptions and deductions in the tax code. To give that number some perspective: it roughly equals what America spends each year on discretionary programs --- including defense --- and is about 2/3 of the yearly deficit. If these “backdoor spending grants” for special interests are eliminated, the commission contends, marginal tax rates can be lowered to broaden and simplify the tax base while increasing government revenue. Controversially, much of this increased revenue would not be used to finance government spending, but would be dedicated solely to paying off America's debt.

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Monday
Dec202010

US Politics, Obama, and Congress: Tax Cut Deal Opens Up Splits among Democrats...and Republicans

President Obama; Senate Republican Leader Mitch McConnellThe only coherent story emerging after a chaotic week in Washington is that no one is happy with recent events in Congress. Against the backdrop of a recent Gallup poll showing that 83% of Americans disapprove of the way Congress is working --- a 30-year historic low ---, Steny Hoyer, the Democrat Majority Leader in the House of Representatives, announced on Friday: “There are at least 434 of my colleagues who are not happy about anything right now.” Then, noting that there are 435 members of the House, he added, "I want you to know I will make that a unanimous judgment. I'm not happy, either."

There is similar discontent in the Senate, where members sat in a rare weekend session to attempt to settle the contentious issues of the DREAM Act, supporting education for the children of illegal aliens, and the repeal of the "Don’t Ask, Don’t Tell" restriction on gays and lesbians in the US military. While there was some resolution --- the DADT provision was overturned, while the DREAM Act failed to pass ---unhappiness inside and outside of Washington with the current political process is sure to continue.

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Monday
Dec132010

US Politics and Tax Cuts: Sanders' Remarkable 8 1/2-Hour "BernieBuster" Challenges Republicans...and Obama

Despite some hostile immediate reactions from progressives, including a non-binding resolution by the House Democratic Caucus that they would not even consider voting on the deal unless it was amended, Obama appeared to have won the argument within his party by Sunday.

But a remarkable piece of political theatre that took place on the floor of the Senate on Friday has energised opposition within some circles to the compromise. At 10:24 a.m., Bernie Sanders, the 69-year old Independent senator form Vermont, began a speech criticising the compromise as a “bad deal” for Americans. Eight and a half hours later, without eating or even sitting, Sanders concluded what became instantly known as the #filibernie on Twitter, where the speech trended Number 1 worldwide on Friday afternoon. While he was speaking the filibernie.com and berniesandersisstilltalking.com websites sprung up, and at the former the whole speech is still available on video with the comment: "Because somewhere on the internet this deserves to be looping forever...."

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Wednesday
Dec082010

US Politics Audio: Scott Lucas on BBC World Service "Obama and the Politics of Tax Cuts"

This morning I appeared on the BBC World Service's World Update, speaking about the politics behind President Obama's decision to extend the 2003 tax cuts of the Bush Administration. The discussion includes Brian Carney, the Wall Street Journal's editorial page editor in London, and American comedian Dave Fulton.

The item begins at the 14-minute mark.

See also on EA: US Politics Analysis --- The Progressives Attack Obama

Saturday
Nov132010

US Politics: Why This "Lame Duck" Congress is So Important

On Monday the Representatives and Senators who were defeated in the elections, or are leaving office for other reasons, will still be members of Congress with full legislative responsibility. So, even though Republicans regained control of the House on 2 November, for a short while Democrats will keep their majority. Those Democrats who are departing in January can attempt to pass controversial (or "radical", according to the November Speaker website) legislation without having the mandate of their electorate.

The issues to watch, in what could be an animated session for a waterbird that can’t walk, are the Bush tax cuts, the appropriation debates, and the seemingly inevitable civil war –-- this time over earmarks –-- that erupts whenever conservatives gain electoral success.

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