Budget Battles
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28 Days Later: The Government Shutdown Horror Story Continues
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Shutdown Could Be a Hint of Things to Come
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Trump Strikes Back at Pelosi, Blocking Her Overseas Trip
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Federal Workers Have Missed an Average $5,000 in Pay So Far
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Bipartisan Group of Senators Pushes for Trump to Reopen Government
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Pelosi’s Shutdown Power Play Against Trump
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Why Some Conservatives Love the Shutdown
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How Alexandria Ocasio-Cortez Is Already Shifting the Debate on Taxes and Deficits
Alexandria Ocasio-Cortez, the youngest woman ever elected to Congress, has wasted no time in making waves in Congress, emerging as a focal point for the national press — and social media powerhouse...
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The Great Debt Debate
By Michael RaineyWe told you last week about a new paper from economist Olivier Blanchard that caused a stir by suggesting that government debt may be less problematic than many experts have believed. Blanchard found...
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Economists: It's Time for a Carbon Tax That Pays Dividends
By Michael RaineyDozens of prominent economists with extensive experience in government service signed a statement in Thursday’s Wall Street Journal calling for a carbon tax. “Global climate change is a serious...
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How 4 Big US Companies Used Their Tax Cuts
By Michael RaineyBloomberg’s Laura Davison looked at what some major American corporations did with the tax cut windfalls they received in 2018. How did Apple, Walt Disney, Visa International and Starbucks use their...
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Is the ‘Era of Tax Reductions’ Over?
By Michael RaineyIf Greg Valliere, chief global strategist at Horizon Investments, is correct, Wall Street should be worried about the rise of Rep. Alexandria Ocasio-Cortez (D-NY). In a note to clients Wednesday,...
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The Ongoing Fight Over Ocasio-Cortez’s 70% Top Tax Bracket
By Michael RaineyThe lively debate over the proposal by Rep. Alexandria Ocasio-Cortez (D-NY) to raise the top marginal tax rate to 70 percent continues, as it no doubt will for many months to come, with former...
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Tax Cuts Still Not Paying for Themselves
By Michael RaineyThe latest budget data shows, once again, that the tax cuts are not paying for themselves. “It’s time to put to rest any notion that President Trump’s signature tax cuts are paying for themselves...
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Ocasio-Cortez’s Tax Bombshell: Is a 70% Top Rate Too High, or Not High Enough?
By Michael RaineyPolitical Rorschach test Rep. Alexandria Ocasio-Cortez (D-NY) sparked a lively fiscal debate this week after suggesting in an interview that the top marginal tax rate in the U.S. should be as high as...
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Deficit Jumped Over First Months of Fiscal 2019, on Pace to Top $1 Trillion for the Year
The federal deficit jumped $92 billion in the first three months of fiscal 2019, up 41 percent from the same period in 2018, according to estimates published by the Congressional Budget Office on...
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House Democrats’ Budget Will Call for Raising Corporate Taxes
By The Fiscal Times StaffThe new Democratic House Budget Committee chairman said Friday that the fiscal 2020 budget blueprint his chamber produces will seek to raise revenue by increasing the corporate tax rate from the...
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Goldman Sachs Sees Sharp Economic Slowdown Ahead
By Michael RaineyGoldman Sachs is sticking to its forecast of a significant economic slowdown over the next several quarters, driven in part by the waning effects from both the tax cuts and the recent increase in...
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New Tax Brackets for 2019
By The Fiscal Times StaffThe IRS released its inflation adjustments for the 2019 tax year this week, which include new brackets and limits on deductions and exemptions. A few highlights: The standard deduction for single...
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Krugman: Why the Tax Cuts Fizzled
By Michael RaineyA long-time critic of Republican fiscal policies, economist Paul Krugman takes on the GOP tax overhaul in Friday’s New York Times, asking, “Why Was Trump’s Tax Cut a Fizzle?” Krugman notes that the...
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The Economy’s Coming Wile E. Coyote Moment
By Michael RaineyMost economists think that the “sugar high” in the economy produced by simultaneous tax cuts and federal spending increases this year will fizzle at some in the next few quarters, at which point GDP...
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Companies Are Using Their Tax Cut Windfall to Pay Down Debt: Moody’s
By Michael RaineyWhat are companies doing with their tax cut windfalls? In addition to boosting shareholder returns through buybacks and dividends (more on that here , here and here ), U.S. corporations are placing a...