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Democrats Like a Romney Idea to Cap Tax Deductions
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How the Simpson-Bowles Commission recommendations on reducting tax expenditures and the Romney, Feldstein proposals to limit tax deductions and loopholes to make the rich pay more- at the same time as the tax code is simplified with lower rates- offer a basis for moving towards a deficit reduction plan that has support on both sides of the aisle in Congress, of Democrats and Republicans. Jeb Hensarling and Pat Toomey are the Republican members on the Supercommittee to address deficit reduction, who support a balanced approach to raise revenue from taxes and spending. Obama advisor, Chrisitina Romer sees the Simpson-Bowles approach to limting tax deductions as a good starting point for building an agreement. Romer goes so far as to say let the Republicans in Congress decide on infrastructure project selection as there so many worthy infrastructure improvement projects that getting started would be the main objective.
Fix the Debt campaign inspired by Simpson-Bowles and the Oct 25, 2012 U.S. CEO's statement
10/25/2012
Over 80 U.S. CEO's issue a statement endorsing the basic framework of Simpson-Bowles commission of tax increases of $1 for every $3 in spending cuts to reduce the U.S. deficit. The statement calls for lowering tax rates as part of tax reform, capping deductions and loopholes to broaden the tax base, and cutting spending. The Romney campaign says it will go beyond what Simpson-Bowles proposed in addressing the deficit. The Obama campaign says it agrees with the idea of combining tax increases with spending cuts. CEO's also support simplifying the corporate tax code and lowering taxes to improve competitiveness.
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Wall Street Journal 10/25/2012
Business Leaders Urge Deficit Deal, Even if Their Taxes Rise
New York Times 10/25/2012
Firms Hit Brakes Before Fiscal Cliff
Wall Street Journal 10/25/2012
Wall Street Journal 10/26/2012
Obama Adviser's Strategy Is High Risk, High Reward
Wall Street Journal 10/31/2012
Wall Street Journal 11/01/2012
Romney's plan on taxes and the Simpson-Bowles deficit reduction plan
04/16/2012
Romney's plan to limit or eliminate some standard tax deductions similar to the Simpson-Bowles plan.
Grouped Articles
Romney Specifies Deductions He'd Cut
Wall Street Journal 04/16/2012
Why neither Obama nor Romney wants to talk about Romney’s record - The Washington Post
Washington Post 05/26/2012
President Obama Should Seize the High Ground
New York Times 05/26/2012
Rep. Dave Camp patiently pursues tax reform - The Washington Post
Washington Post 07/29/2012
Dave Camp: Is Tax Reform Politically Possible?
Wall Street Journal 08/12/2012
With Ryan, Romney Casts Spotlight on Budget Details
New York Times 08/11/2012
Deficit discussions in the U.S. and revenue from taxes- 2011-2012
07/04/2011
Negotiations between the White House, Democrats and Republicans, to achieve major reductions and cuts in spending, and increase tax revenues by reducing tax expenditures. The discussions for an action plan on the U.S. budget deficit have reached an impasse with Republicans opposed to any tax increases.
Grouped Articles
Budget Shell Games Are Contrary to Law
Wall Street Journal 07/14/2011
GOP Hopefuls Betting Voters Want Deep Cuts
Wall Street Journal 07/18/2011
Why we need a third party - The Washington Post
Washington Post 09/26/2011
Wall Street Journal 07/05/2011
New York Times 07/04/2011
New York Times 07/07/2011
The revival of Simpson-Bowles recommendations on deficit reduction in Nov.-Dec. 2012
09/26/2011
Both Republicans and Democrats now look to Simpson-Bowles as the basis of building an agreement that generates revenue by reducing loopholes, deductions and tax expenditures. Christina Romer, former chairwoman of Obama's Council of Economic Advisors's puts forward a strategy based on Simpson-Bowles in an op-ed in the NYT, Nov. 11, 2012. The "fiscal cliff" of automatic tax increases and spending cuts goes into effect on Jan. 1, in the absence of an agreement. The Romney plan and the proposal by Martin Feldstein on limiting tax deductions and loopholes for high income earners are a way to distribute the tax burden equitably.
Grouped Articles
Stimulus and the Depression: The Untold Story
Wall Street Journal 09/26/2011
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
The Cliff Is a Hard Place to Compromise
New York Times 11/10/2012
Democrats Like a Romney Idea to Cap Tax Deductions
New York Times 11/12/2012
Deluding Ourselves Over the Fiscal Cliff
New York Times 11/12/2012
Grover Norquist: Washington Enemy No. 1
Wall Street Journal 11/23/2012
Robert Shiller and "winter on the family farm" as a metaphor in tough economic times instead of "tightening the family belt"
01/27/2009
Shiller cites the "balanced budget theorem" of Salant and the economist Paul Samuelson during the FDR period. This showed that with taxes and expenditures going up during tough economic times the higher output leads to national income increasing by the amount of the tax. French president Hollande's plan to hire 60,000 teachers is of this kind, says shiller, because the higher taxes on incomes over 1 million euros supporting the hiring would increase national income by that amount.
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Wall Street Journal 05/29/2013
Fear of a Double Dip Could Cause One
New York Times 05/14/2010
Robert Shiller: A Skeptic and a Nobel Winner
New York Times 10/19/2013
How to Fix the Economy: An Expert Panel
BusinessWeek 09/16/2010
France's Hollande Replaces Prime Minister Ayrault with Manuel Valls
Wall Street Journal 04/01/2014
How National Belt-Tightening Goes Awry - Economic View
New York Times 05/19/2012
Martin Feldstein, Sheila Bair and other experts on the Bowles-Simpson Deficit Commission proposals
11/17/2010
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The Deficit Dilemma and Obama's Budget
Wall Street Journal 11/18/2010
America's budget deficit: Speak softly and carry a big chainsaw
Economist 11/20/2010
Sheila C. Bair - Will the next fiscal crisis start in Washington?
Washington Post 11/26/2010
Debt and Taxes: Will Washington Ever Grow Up?
BusinessWeek 11/17/2010
Martin Feldstein - How to cut the deficit without raising taxes
Washington Post 11/29/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Republican views on the Bowles-Simpson Deficit Commission proposals
12/03/2010
Grouped Articles
GOP Hopefuls Betting Voters Want Deep Cuts
Wall Street Journal 07/18/2011
Why we need a third party - The Washington Post
Washington Post 09/26/2011
Wall Street Journal 12/03/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Wall Street Journal 04/05/2011
New York Times 04/07/2011
Martin Feldstein on how limiting deductions for high income earners can pay for the Romney Tax Plan
08/28/2012
Romney's tax plan for 20% across the board reduction in taxes and how it can be paid for by limiting the deductions of high income tax earners.
Grouped Articles
Martin Feldstein: Romney's Tax Plan Can Raise Revenue
Wall Street Journal 08/28/2012
The Magnitude of the Mess We're In
Wall Street Journal 09/16/2012
The Data Behind Romney’s 47% Comments
Wall Street Journal 09/18/2012
New York Times 09/24/2012
Ruth Marcus: Fallacies at the heart of Romney’s tax plan - The Washington Post
Washington Post 09/26/2012
Wall Street Journal 09/27/2012
U.S. presidential candidate Romney's new message that shows he is responsible in his position on taxes and healthcare
08/20/2012
Romney's conveys to voters that he looks favorably at giving coverage to people with preexisting conditions and other popular aspects of the health care law, and he reminds voters that he got everybody in his state insured. He is also careful to show that he will not reduces taxes by a huge amount to worsen the deficit, but enough to stimulate business investment, simplify taxes, and close loopholes and deductions to offset reductions in taxes.
Grouped Articles
Romney, Appealing to Wider Audience, Recalibrates Message
New York Times 09/28/2012
Romney benefits from rigorous defense of tax plan - The Washington Post
Washington Post 10/06/2012
Wall Street Journal 10/21/2012
Wall Street Journal 11/01/2012
Mitt Romney: A New Direction For America
Wall Street Journal 11/02/2012
Mitt Romney, as a leader in Mormon church, became a master of many keys - The Washington Post
Washington Post 08/20/2012
Feldstein's proposal for a 2% cap on reduction in taxes from deductions and exclusions.
05/04/2011
Feldstein says its important to increases taxes not tax rates. And the the way to go is to follow the President's Bowles-Simpson Deficit Commission's proposal on tax expenditures. As it is politically difficult to eliminate deductions and exclusions he suggests another proposal- limit the reduction in taxes with a 2% of adjusted gross income cap on the reduction any taxpayer gets.
Grouped Articles
Raise Taxes, but Not Tax Rates
New York Times 05/04/2011
New York Times 07/04/2011
The Elmendorf Rule - The Washington Post
Washington Post 07/09/2011
Tom Keene Talks to Martin Feldstein
BusinessWeek 07/07/2011
Wall Street Journal 07/12/2011
Top Democrats laud GOP debt-ceiling move - The Washington Post
Washington Post 07/14/2011
The Balanced Budget Amendment in the U.S. Congress in August 2011
07/14/2011
Critics say the balanced budget amendment would prevent the use of countercyclical policies in a downturn like the present one facing the U.S. economy. Because of the tendency of politicians to avoid difficult decisions and "kick the can down the road," it serves to focus attention on making the cuts in spending, including tax expenditures, that can help reduce the deficit to sustainable levels.
Grouped Articles
Budget Shell Games Are Contrary to Law
Wall Street Journal 07/14/2011
Budget Deficit Returns to Prerecession Levels
Wall Street Journal 10/16/2014
U.S. Racks Up Smallest Deficit Since 2007
Wall Street Journal 01/14/2015
Why a balanced-budget amendment is too risky - The Washington Post
Washington Post 07/19/2011
Wall Street Journal 07/19/2011
For Republican Freshmen, the Power of No
New York Times 07/29/2011
Friedman on Obama, the presidential campaign of 2012 and the failure to embrace the Simpson-Bowles deficit reduction plan
09/26/2011
A campaign developed by campaign consultants lacking boldness and clear vision, one developed in test-tube fashion, is how Friedman describes the Obama election campaign. He describes the long period in the second half of 2011 as a crucial period inthe Obama presidency, when Obama lacked the courage to embrace his own presidential commission's Simpson-Bowles plan for deficit reduction and simply vacillated in a back and forth with Republicans. The price may well be the loss of independent and center-right voters.
Grouped Articles
Why we need a third party - The Washington Post
Washington Post 09/26/2011
President Obama Should Seize the High Ground
New York Times 05/26/2012
Washington Post 06/09/2012
Rep. Dave Camp patiently pursues tax reform - The Washington Post
Washington Post 07/29/2012
Dave Camp: Is Tax Reform Politically Possible?
Wall Street Journal 08/12/2012
Martin Feldstein: Romney's Tax Plan Can Raise Revenue
Wall Street Journal 08/28/2012
New York Mayor Bloomberg on reviving the U.S. economy
09/26/2011
Bloomberg says its time Obama and the Republicans stop promising a free lunch, or something for nothing. He suggests a two step answer to the economic problems facing the U.S. - let the Bush tax cuts expire for all income groups, and passage on an up or down vote of the Simpson-Bowles deficit reduction plan for $4 trillion in savings. This would give U.S. businesses the confidence to invest instead of holding back because of the uncertainty, and lead to higher economic growth and lower unemployment.
Grouped Articles
Why we need a third party - The Washington Post
Washington Post 09/26/2011
New York Times 12/27/2011
Federal Budgets and Class Warfare
Wall Street Journal 03/29/2012
Why I'm Optimistic About Cutting the Deficit
Wall Street Journal 03/29/2012
President Obama Should Seize the High Ground
New York Times 05/26/2012
Dana Milbank: Jeb Bush’s heresy - The Washington Post
Washington Post 06/13/2012
Bowles and Simpson of the President's Deficit Commission defend their plan
11/18/2010
Grouped Articles
Charlie Rose Talks to Erskine Bowles, Alan Simpson
BusinessWeek 11/18/2010
CBO: U.S. budget deficit to reach $1.5 trillion in 2011, highest ever
Washington Post 01/26/2011
Wall Street Journal 03/03/2011
Wall Street Journal 04/05/2011
New York Times 04/07/2011
Raise Taxes, but Not Tax Rates
New York Times 05/04/2011
Obama advisor, Christina Romer, and support for Simpson-Bowles recommendations on limiting deductions
11/10/2012
The Feldstein, Romney proposals based on the ideas of the Simpson Bowles Commission of limiting tax deductions finds convergence with Obama economic advisor, Christina Romer's support for Simpson Bowles recommendations after the 2012 presidential elections.
Linked Articles
Democrats Like a Romney Idea to Cap Tax Deductions
New York Times 11/12/2012
Budget Showdown Offers an Opportunity for Progress
New York Times 11/10/2012
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