New Yorkers that were heavily hit from Hurricane Sandy are irate as Obama promised to cut all the red tape and get them aid in the aftermath of Sandy has proven to be hot air. Angry citizens vented at FEMA officials at a town hall meeting held by the disaster relief agency Thursday, with tempers boiling over. Some 1,000 people, many left homeless by the Oct. 29 storm, attended the meeting at Staten Island’s New Dorp High School.
Republicans in congress while trying to extend the Bush era tax cuts, for all Americans, on Tuesday argued that that ending those rates for families earning more than $250,000 a year would produce only enough money to run the government for less than nine days.
The true government debt burden is vastly underestimated, because the TreasuryDepartment’s balance sheet doesn’t list unfunded liabilities for Medicare, Social Security, and other big obligations, according to Chris Cox and Bill Archer.
There are many barriers still awaiting Obama’s healthcare law as the White House begins the arduous task of installing health insurance exchanges in states that have decided against establishing ones of their own.
Obama, who praised Egyptian President Mohamed Morsi for brokering a cease-fire between Israel and Hamas, has not spoken to the Islamist since his alarming power grab, a White House spokesman said Monday.
Warren Buffet supports Obama when it comes to raising taxes but he disagrees on where to draw the line. Buffet said in an interview the cutoff point should be $500,000 or so. Obama wants it extended for families under $250,000.
The White House is now asking Treasury Secretary Timothy Geithner to be its lead negotiator in deficit-reduction talks with Congress, giving him about a month to help cut a deal before $500 billion in tax increases and spending cuts begin in January.
Did we really expect anything to come of this? Lawmakers have made little progress in the past 10 days toward a compromise to avoid the harsh tax increases and government spending cuts scheduled for January 1, a senior Democratic senator said on Sunday.
There is one plan that could actually raise taxes on the super rich, those making $400,000 or so, would be to tax the entire salary at the top rate of 35% rather than allowing them to pay lower rates before they reach the target, as is the standard formula. This would make winners of both parties, as Republicans would be allowed to say they didn’t back down in their opposition to raising marginal tax rates and Democrats to say they prevailed by increasing effective tax rates on the rich.