Fiscal cliff tax deal: Getting to $1 trillion
November 26th, 2012
07:26 AM ET
1 year ago

Fiscal cliff tax deal: Getting to $1 trillion

New York (CNNMoney) - Leaders in Washington say they want to make a "down payment" on deficit reduction and avert the fiscal cliff.

But the size of any down payment depends in large part on whether the two sides can agree on taxing the rich.

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Filed under: Fiscal Cliff • Taxes
The language of the loophole
November 24th, 2012
10:28 AM ET
1 year ago

The language of the loophole

Washington, DC (CNN) - We’re hearing a lot about tax loopholes these days, as Washington grapples with ways to solve the fiscal crisis.

But what IS a tax loophole?

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Filed under: Congress • Fiscal Cliff • Taxes
Some Republicans move away from no-tax pledge
Grover Norquist, who heads Americans for Tax Reform, lobbies Congressional Republicans to promise not to raise taxes.
November 23rd, 2012
01:28 PM ET
1 year ago

Some Republicans move away from no-tax pledge

Washington (CNN) – Nothing riles up the tea party chattering class like a broken pledge against raising taxes.

Just ask Sen. Saxby Chambliss, a veteran Georgia Republican who this week turned his back on the Taxpayer Protection Pledge he signed years ago as a rite of passage of right-wing politics.

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Filed under: 2012 • Debt • Deficit • Fiscal Cliff • Grover Norquist • Taxes
Chambliss fires off on Norquist's anti-tax pledge
November 22nd, 2012
04:15 PM ET
1 year ago

Chambliss fires off on Norquist's anti-tax pledge

(CNN) – A top Republican U.S. senator brushed off the anti-tax pledge pushed by activist Grover Norquist and embraced widely for years by GOP lawmakers.

"I care more about my country than I do about a 20-year-old pledge," Sen. Saxby Chambliss told Georgia television station WMAZ, a CNN affiliate, on Wednesday. "If we do it his way, then we'll continue in debt and I just have a disagreement with him about that."
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Filed under: 2012 • 2014 • Grover Norquist • Saxby Chambliss • Senate • Taxes
Curbing tax breaks: Does the math add up?
November 13th, 2012
01:39 PM ET
1 year ago

Curbing tax breaks: Does the math add up?

New York (CNNMoney) - Republicans have officially gotten on board with raising revenue for deficit reduction - by curbing tax breaks in conjunction with lowering tax rates.

The idea of curbing tax breaks isn't new. Tax policy experts have touted it for years and Democrats, including President Obama, have proposed it in one form or another. That's why it may offer a key to resolving the fiscal cliff.

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Filed under: 2012 • Taxes
November 11th, 2012
09:00 AM ET
1 year ago

California governor sees tax referendum as sign of changing tide

(CNN) -– Gov. Jerry Brown sees California voters’ openness to temporarily increasing taxes on wealthy individuals’ income as a sign voters nationwide may be open to the idea.

“The cutting and the deficits are out of control,” the California Democrat said Sunday on CNNs “State of the Union.”
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Filed under: Budget • California • Jerry Brown • Taxes
Romney and America's biggest tax break
November 5th, 2012
07:02 AM ET
1 year ago

Romney and America's biggest tax break

New York (CNNMoney) – Among the questions about how Mitt Romney would pay for his $5 trillion tax plan is whether he would curb the biggest tax break of all: the largely invisible tax savings workers get when their employer provides health insurance.

The "health care exclusion" applies to the money a company contributes to help pay for an employee's coverage; that money is considered income to the worker, and the IRS treats it as tax-free.

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Filed under: 2012 • CNNMoney.com • Mitt Romney • President Obama • Taxes
CEOs: Taxes have to be part of debt plan
October 25th, 2012
02:07 PM ET
1 year ago

CEOs: Taxes have to be part of debt plan

New York (CNNMoney) - As Congress dithers on resolving the fiscal cliff and long-term debt, 87 CEOs of major companies publicly urged lawmakers to compromise - and fast.

Their prescription: a debt-reduction plan that raises tax revenue and cuts spending.

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Filed under: Debt • Deficit • Taxes
Tax deduction cap: How much would it raise and who'd pay?
October 17th, 2012
06:07 PM ET
2 years ago

Tax deduction cap: How much would it raise and who'd pay?

New York (CNNMoney) - One of the big unknowns about Mitt Romney's $5 trillion tax plan is how he would pay for it.

According to a report released Wednesday, one of the options he has talked about wouldn't raise nearly enough money on its own.

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Filed under: Mitt Romney • Taxes
Romney tax plan: Two big unknowns
October 16th, 2012
08:52 AM ET
2 years ago

Romney tax plan: Two big unknowns

New York (CNNMoney) - The nature of campaigning is to make promises. The nature of governing makes it hard to keep all those promises. And so do unforeseen events, like recessions.

That may be why even those who broadly favor the kind of tax reform that Mitt Romney is proposing - lower tax rates, fewer tax breaks - worry that his $5 trillion plan might not deliver all that he's promised.

Watch CNN's coverage of Tuesday's presidential debate starting at 7 p.m. ET on CNN TV, CNN.com and via CNN's apps for iPhone, iPad and Android. Web users can become video editors with a new clip-and-share feature that allows them to share favorite debate moments on Facebook and Twitter. Click here for 13 reasons to watch the debate only on CNN.

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Filed under: Mitt Romney • Taxes
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