Word: taxing
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Things I would never think to write a song about: tax software programs, White House cabinet members, Paul Krugman. Now, I might write a song about Maureen Dowd (tentative title: "I Wish You Would Disappear"), but Krugman? Yes, the Nobel Prize-winning economist and New York Times columnist has a gift for breaking down complicated economic situations into easily digestible concepts, but he rarely inspires within me a sense of passion. Apparently songwriter Jonathan Mann disagrees...
Among Democrats, Max Baucus is known mostly for his apostasies. So crucial was the Montana Senator to passing George W. Bush's tax cuts in 2001 that he was rewarded with a prime spot at the signing ceremony in the White House East Room. Two years later, it was Baucus who helped Republicans pass a pharmaceutical-industry-friendly Medicare prescription-drug bill, even as his party's congressional leadership was shut out of the process. It is understandable, then, that when Democrats took back control of the White House, many in the party were more than a little dismayed about...
...Congress the lead in fashioning health-care-reform legislation. And the two Democrats who had been expected to spearhead that task have been sidelined. Former Senate majority leader Tom Daschle withdrew his nomination to be Obama's Secretary of Health and Human Services in early February amid revelations of tax problems, and Edward Kennedy, chairman of the Senate Health Committee, has had to work behind the scenes as he battles brain cancer...
...request for more bank bailout funds. And they both slashed the Administration's proposed 10% increase in nondefense discretionary spending (for education, environment and health initiatives, among other things), to 7% in the Senate and 7%-9% in the House. The Senate stripped the President's signature middle-class tax cuts, known as "Making Work to Pay," of $400 for individuals and $800 for families. The Senate plan, crafted by Budget Committee chairman Kent Conrad of North Dakota, also notably does not include any targeted funding to bankroll health-care reform, as Obama's does with $634 billion over...
...some degree, Congress scaled back Obama's budget by resorting to the same kinds of accounting gimmicks the President had prided himself on avoiding, a fact Republicans were quick to point out. It dropped the long-term inclusion of the costly Alternative Minimum Tax fix - an annual must-pass bill to prevent the tax once intended for the superrich from hitting the middle class - and opted for a shorter time line of just five years vs. the 10-year budget the White House had crafted. "Given the state of the economy, everyone agrees that it's very difficult to predict...