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NEWS ABOUT: tax hikes

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Tax Hikes Loom as Deficit Nears $1T

Blue or red, next president may need to boost revenues with increase

(Newser) - The bailout and other government spending are adding on to an already-enormous US budget deficit, and the next president might well have to raise taxes, no matter who it is, the Christian Science Monitor reports. This fiscal year will put the US down nearly $1 trillion, one nonpartisan group estimates,... More »

Obama's Tax Plan Is 'Dumb... Painful': McCain

Biden calls for tax hike on rich, urging 'it's time to be patriotic'

(Newser) - John McCain slammed Democratic plans to raise taxes as “just plain dumb” and “painful,” the Chicago Tribune reports. The vehement appraisal came after Democratic vice presidential candidate Joe Biden urged high-income earners to embrace a tax hike targeted at them. “It's time to be patriotic…time... More »

McCain, Obama Outline Dueling Economic Plans

Candidates differ sharply on how to get economy rolling again

(Newser) - John McCain and Barack Obama drew clear battle lines yesterday over a central election issue—the sputtering economy. McCain promised to boost the economy with tax cuts and reduced regulation, while Obama set out a strategy to help the hard-hit poor and raise taxes on the rich, reports the Washington ... More »

Huckabee Plan Is Catnip to Tax-Phobes

But the 'fair tax,' a gift to the rich, perplexes nearly everyone

(Newser) - “Our tax system can’t be fixed with WD-40 and duct tape,” proclaims Mike Huckabee in promoting a more radical change—the 'fair tax,' which stirs taxpayer rebellion even while inciting economist ire, Politico reports. The plan, which would replace the IRS with a uniform 23% sales... More »

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