- Gentlemen, start your drones: Judge’s ruling opens door for commercial use
- Soldier who hid, bragged about not saluting flag to be punished — in secret
- ‘Maverick’ of the seas: ‘Top Gun’ school for U.S. ship officers to launch
- Putin declares Sochi Paralympics open amid Ukrainian protest
- ‘In Jesus name, we pray’ sparks ire at Ohio council meeting
- Navy’s first laser weapon ready for prime time; drone killer to deploy this summer
- Billionaire backer: Rick Santorum ‘needs to be heard’ in 2016
- Obamacare fallout: 49 percent pessimistic; 45 percent ‘scared’
- DHS accused of holding U.S. citizen at airport, using emails to pry into her sex life
- Seattle socialist: Minimum-wage discussion skewed by ‘right-wing’ GAO analysis
Taxpayers must pay the freight for over-budget train projects
Topic - Chuck Marr
Those worried that the bipartisan budget making its way through Congress does not include enough deficit reduction can take some solace in the fact that more savings will quietly take effect after a number of tax breaks expire at the end of the year.
Democrats want to see tax rates go up on the wealthy; Republicans want to see cuts in entitlement programs. But neither side is trumpeting an extension of the payroll-tax cut, which is also expected to expire at the end of the year — opening the door for the federal government to dig deeper into the pockets of 160 million workers.
The rich did indeed get richer under President George W. Bush, but they also paid an ever-larger share of the federal tax burden, according to new numbers from Congress' chief scorekeeper.
"We'd still need to do more to address long-term deficits and moderate the debt ratio, but paying for the extenders would represent important progress," Mr. Marr argued in a blog posting.
Chuck Marr, the center's director of federal tax policy, said that paying for the breaks would mean a significantly lower debt burden in the next 25 years.