The game of chicken over raising the debt limit continues, with Republicans (and some Democrats) vowing that any vote for it will have to be accompanied by deep budget cuts, and tax increases of any kind will not be considered.  If Republicans have their way, there’s only one possible outcome. The social safety net, already [...]

The battle over allowing the Bush tax cuts for the wealthiest Americans has reached the election year boiling point. The Democrats (finally) are framing this debate properly and putting Republicans on the defensive, so much so that House minority leader John Boehner got spooked and said that he’d support extending the middle class tax cuts [...]

Remember supply-side economics and trickle-down theory? Supply side economics theorized that removing barriers to production with income tax and capital gains tax cuts, along with deregulation, would stimulate production and produce enough consumer spending on cheaper products to more than offset the revenue losses from the tax cuts. Trickle-down theory postulated that tax cuts for [...]