Making Work Pay

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Real Villain of Tax Breaks: Middle Class

Corporations account for just 8% of tax breaks

(Newser) - Tax loopholes and write-offs for corporate jets and special interests may fill political talking points, but tax breaks for families—particularly the middle-class families that President Obama says he wants to protect—far exceed corporate giveaways, reports the Washington Post . In fact, corporations accounted for just 8% of $1.08... More »

Surprise! Taxes Will Actually Go Up for the Poor

But for the rich, it's a great deal

(Newser) - This tax cut deal President Obama struck with Republicans is awesome—as long as you’re among the wealthiest Americans. At least a quarter of the tax savings will go to the top 1%, the New York Times points out, in a piece headlined “Tax Package Will Aid Nearly... More »

Obama, GOP Hold Hushed Tax-Cut Talks

President calls for speedy renewal of jobless benefits

(Newser) - Could the president and GOP lawmakers be inching toward compromise ? Working against the clock, Obama and congressional Republicans have been holding behind-the-scenes talks about extending tax cuts—due to expire at year’s end—and renewing expired emergency jobless benefits, and they're making slow and steady progress on the... More »

Millions Must Repay Part of Stimulus Tax Credit

Withholding errors mean 15.4M will get smaller refund or owe money

(Newser) - An IRS tax credit designed to lighten the load on recession-addled taxpayers won't work out as well as hoped for about 15.4 million Americans. Because certain minutiae of the new Making Work Pay credit weren’t factored in to withholding tables, more than 10% of taxpayers who file individual... More »

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