How to raise taxes on the rich
November 30th, 2012
07:02 AM ET
5 months ago

How to raise taxes on the rich

New York (CNNMoney) - The line in the sand in the fiscal cliff talks is clear: Democrats will only agree to a deal that raises the tax burden on high-income households.

Democrats want to accomplish that goal largely through higher tax rates. Republicans hate that idea and say any new revenue should be raised by curbing tax breaks.

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Filed under: Fiscal Cliff • Taxes
Fiscal cliff tax deal: Getting to $1 trillion
November 26th, 2012
07:26 AM ET
2 years 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
Debt ceiling may collide with fiscal cliff
November 19th, 2012
07:38 AM ET
2 years ago

Debt ceiling may collide with fiscal cliff

New York (CNNMoney) – If Congress fails to cut a deal on the fiscal cliff this year, the scramble to do so in January could run smack dab into yet another high-stakes negotiation - over raising the debt ceiling.

As of late last week, the country's debt was $154 billion below the $16.394 trillion debt ceiling.

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Filed under: 2012 • CNNMoney.com • Debt • Deficit • Fiscal Cliff
Fiscal cliff: Boehner's opening gambit
November 7th, 2012
07:44 PM ET
2 years ago

Fiscal cliff: Boehner's opening gambit

New York (CNNMoney) - There's a big difference between raising tax rates and raising tax revenue. And the distinction may prove key in fiscal cliff negotiations between House Speaker John Boehner and President Obama over the next two months.

Boehner on Wednesday laid out in public his opening gambit for that deal-making.

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Filed under: John Boehner
Romney and America's biggest tax break
November 5th, 2012
07:02 AM ET
2 years 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
Candidates mum on fiscal cliff
October 24th, 2012
11:56 AM ET
2 years ago

Candidates mum on fiscal cliff

New York (CNNMoney) – Remember the fiscal cliff?

It's the largest and most immediate domestic problem the next president will face. Yet it was barely mentioned during four presidential and vice presidential debates, and the candidates have said little about how they would address it.

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Filed under: 2012 • CNNMoney.com • Congress • Debt • Deficit
$1 trillion in defense cuts: What you need to know
October 23rd, 2012
01:19 AM ET
2 years ago

$1 trillion in defense cuts: What you need to know

NEW YORK (CNNMoney) - The looming spending cuts at the Pentagon played a starring role in Monday night's foreign policy debate.

Mitt Romney said several times he would "not cut our military budget by $1 trillion."

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Filed under: Congress • Military • Mitt Romney • President Obama
Why debt is a threat to national security
October 22nd, 2012
07:52 AM ET
2 years ago

Why debt is a threat to national security

New York (CNNMoney) - The national debt is not on the official agenda for Monday's presidential debate on foreign policy.

But it may as well as be. A chorus of former military leaders, current administration officials and fiscal hawks have all labeled the country's debt a threat to national security.

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Filed under: 2012 • CNNMoney.com • Debt • Deficit
October 17th, 2012
01:32 AM ET
2 years ago

The 5%: Romney defines 'rich'

New York (CNNMoney) - Mitt Romney has been saying that under his tax plan, high-income households would continue to pay the same share of taxes as they pay today.

During Tuesday night's town hall debate with President Obama, he got more specific.

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Filed under: 2012 • Mitt Romney • Presidential Debates
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.

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Filed under: Mitt Romney • Taxes
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