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Deluding Ourselves Over the Fiscal Cliff
Keywords:
Rubin questions the idea that lowering the deficit by reducing tax expenditures, deductions and loopholes at the same time as lowering rates would work. It would not raise enough revenues if many of the deductions that help the middle class were not considered doable and crossed off the list. He disagrees with Republicans about increasing taxes to Clinton era levels as creating disincentives for work and business by citing the economic record of growth in jobs and GDP during the Clinton period. On the proposal to use limiting deductions and loopholes for the the rich as away to provide a more equitable distribution of the tax burden he says this would still require increasing taxes on the middle class to achieve deficit reduction.
Views of Robert Rubin and other Democrats on Simpson-Bowles and Feldstein-Romney proposals for reducing tax expenditures and deductions
08/04/2011
Views of Democrats after the presidential election of 2012.
Grouped Articles
Charlie Rose Talks to Robert Rubin
BusinessWeek 08/04/2011
Deluding Ourselves Over the Fiscal Cliff
New York Times 11/12/2012
New York Times 11/18/2012
Mortgage-interest deduction could be on the table in ‘fiscal cliff’ debate - The Washington Post
Washington Post 11/29/2012
New York Times 11/25/2012
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.
Grouped Articles
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
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
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
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
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