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May 25, 2012
Mark Clayton: Is Hillary's State Dept. hacking Al Qaeda? Not quite
Erika Bolstad: Temple cancels Wasserman Schultz speech
The Kosher Gourmet by Ethel G. Hofman: The former president of the International Association of Culinary Professionals, whose members included the likes of Julia Child, is back with contemporary Shavous cuisine: Ruby Fruit Soup, Sweet Noodle Kugel with Cheese, Key Lime Curd, Calsone Casserole Frittata with Wild Mushrooms, Sun-dried tomatoes and Olives, Baked Tilapia with Pepper Cheese Cream and Brown Sugar Shortbread
May 24, 2012
Jeff Jacoby: The peace process battered Israel's reputation
Michael Muskal: 'Pro-choice' position hits record low, according to poll
Chris Farrell: Are We in a Tech Bubble?
The Kosher Gourmet by Penelope Wall: PHILLY CHEESE STEAKS --- hold the steak!
May 23, 2012
Tony Pugh: More private colleges offering tuition discounts
Mary Beth Franklin: How to Choose the Right Annuity for You
Tina Susman: The wig wasn't enough: Man gets 13 years for posing as his dead mom
The Kosher Gourmet by Emma Christensen:A simple way to do fish right
May 22, 2012
Warren Richey: Can US group challenge overseas surveillance act? Supreme Court to decide
Thomas M. Anderson: Walking Away From a Mortgage
The Kosher Gourmet by Megan Gordon: Enjoy a celebration of the most rich and layered flavors: Black bean, sweet potato and quinoa chili
May 21, 2012
Mark Clayton: Cybersecurity: How US utilities passed up chance to protect their networks
Howard LaFranchi: NATO summit: Who will foot the bill for long-term Afghanistan security?
Chris Farrell : Earn Dividends in Emerging Markets with This WisdomTree ETF
Stephen Whiteside, Ph.D. : Mayo Clinic Medical Edge: Social anxiety disorder --- or just shy?
Guy Jackson : Victim's father regrets death of Lockerbie bomber
The Kosher Gourmet by Mario Batali: Famed chef's veal shoulder farsumagru: A festive meat course for late spring
May 18, 2012
Rabbi Berel Wein: Striving: The People of the Book's Book for (All of) the People
Steven Goldberg: 5 Great Stock Picks and the Exchange-Traded Fund that Owns Them
Mary Pickett, M.D.: Ask the Harvard Experts: Don't be forced into gluten-free lifestyle based merely on a doctor's false-positive test
The Kosher Gourmet by Carolyn Malcoun: DIY healthy lunchbox treats: HOMEMADE FRUIT BARS for kids and brown-bagging adults alike
May 17, 2012
Warren Richey: Teacher fired for being unwed and pregnant can sue religious school, court rules
Josh Mitnick: Netanyahu's 'centrist' coalition is already proving it's anything but
Steven Goldberg: Earn Dividends in Emerging Markets with This WisdomTree ETF
Amina Khan: Research links coffee to lower death rates
The Kosher Gourmet by Faith Duran : Cheesy Potato Breakfast Casserole with Cheddar and Sun-Dried Tomatoes
May 16, 2012
Carmen Terzic, M.D., Ph.D. : Mayo Clinic Medical Edge: A variety of exercises can help improve balance
Melissa Healy: National strategy on Alzheimer's disease aims to halt it by 2025
The Kosher Gourmet by Joyce White : GOODNESS GRACIOUS: GREENS! 4 winning recipes that are no longer just for down-home folks (Includes expert tips & techniques)
May 15, 2012
Kristen Chick: Obama administration resumes arms sales to Bahrain despite serious unresolved human rights issues. Activists feel abandoned
Pat Mertz Esswein: Homes are now affordable again and mortgage rates are low. What you need to know before you buy
Kathy Kristof: Our Practical Investor Fights Inflation with These 6 Investments
Sue Hubbard, M.D.: The Kid's Doctor: Lactose intolerant young child? Check again
The Kosher Gourmet by Kathy Hunt: Spread a Little Excitement with EXOTIC CONDIMENTS (4 RECIPES)
May 14, 2012
Lisa Gerstner: How to Protect Your Identity, Finances If You Lose Your Phone
Harvard Health Letters: Heart disease and dementia
The Kosher Gourmet by Megan Gordon: MANGO COCONUT OAT MORNING MUFFINS are a bright but hearty delight
May 11, 2012
Jessica L. Anderson: Get the Best Deal on a Used Car
Jett Stone: Forget face-lifts and fake knees. Scientists have seen the fountain of youth --- and it's broccoli
The Kosher Gourmet by Chef Mario Batali: The famed chef's vegetable dish that tastes true to the season: FAVAS AND SUGAR SNAP PEAS WITH POTATOES AND TARRAGON
May 10, 2012
Sergei L. Loiko: Putin sends warning to U.S., NATO in Victory Day speech at Red Square
Mary Rourke: How being a 'mentch' got Vidal Sasoon his start and fighting in Israel's War of Independence provided him with confidence and a strong sense of his own identity
Jeff Bertolucci: Get Home Phone Service for Less Than $10 a Month
The Kosher Gourmet by Betty Rosbottom: Gleaming with its golden, crimson, and snowy white hues, this silken smooth and creamy STRAWBERRY ORANGE TRIFLE looks impressive, but is easy to prepare
May 9, 2012
Sharon Palmer, R.D. How you can reduce your risk -- or delay -- chronic diseases associated with aging
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Jewish World Review
May 4, 2011
/ 30 Nissan, 5771
Danger: Automatic Tax Trigger Ahead
By
Dick Morris And Eileen McGann
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http://www.JewishWorldReview.com |
A diabolical plot is being hatched between Senate Democrats, the White House and three Republican accomplices Tom Coburn of Oklahoma, Mike Crapo of Idaho, and Saxby Chambliss of Georgia. The concept is to enact an amendment to the debt limit extension specifying certain targets for deficit reduction and then mandating automatic spending cuts AND tax increases to take effect if the goals are not met.
This formula permits backdoor tax increases on which nobody votes and no fingerprints appear. The taxes just happen automatically. The immaculate conception tax increase.
The plan will vindicate President Obama's long-term goal: expand the size of the government's share of the economy. When he took office, federal, state, and local spending accounted for 35 percent of gross domestic product. Now it equals 44 percent. But as long as the extra spending is borrowed, it is not permanent.
So Obama's goal has been to lock in the higher level of spending by matching it with higher taxes. But even the Democrats are smart enough never to vote for tax increases on the general public and, only with some hesitation, to impose them on the wealthy.
Now, with the automatic trigger, they and their Republican allies can vote for higher taxes while seeming only to be supporting deficit reduction. When the taxes come as a result of the automatic trigger they enacted, they can blame future Congresses for not agreeing to the spending cuts. They can even rail against the tax increases. It won't matter. The tax hikes will take place automatically.
Of course, what one Congress mandates, another can repeal. But the mechanism of passing a law to block the tax increases is far more difficult. You would need 60 votes in the Senate and control of the House and the presidency a tall and probably impossible order for future anti-tax Republicans. So the politicians can have it both ways they can oppose tax increases and watch them take effect without their fingerprints on them.
So the game plan is for the debt-limit extension to stall in the House and for the bipartisan group of six senators to swoop in with their legislation to save the day. It will seem, to all appearances, that they will have mandated deficit reduction as the price for a debt limit hike. So far, so good. But the tax trigger will be part of the package, and we will have stripped Congress of the power to tax and delegated it to an automatic trigger.
The crucial actors in this sham are the three Republicans who are part of the six member "bipartisan" group that is cooking up the idea for the automatic trigger. Without the political cover Coburn, Chambliss and Crapo afford, the Democrats would never be able to push so audacious a plan.
But Coburn has a sterling reputation as a fiscal conservative, as does Chambliss. All three Republican senators were just re-elected (without breathing a word of their true intentions to their constituents). It is vital that all Republicans let these three senators know what we think of their plan for automatic tax increases.
Of course, once the trigger is enacted, the spending cuts won't happen as promised. Even if they are enacted, the experience with previous spending cut/tax increase deals is that the taxes happen but the cuts don't.
Even if the spending reductions are actually enacted, they will likely be vitiated by the impact of tax increases on the economy. The taxes will drive down what economic growth remains, depressing government revenues and driving up entitlement safety net spending. As a result, the deficit reduction targets won't be reached and even more tax increases will have to be triggered. A vicious cycle akin to that which has ruined cities like Detroit will set in.
The Gramm-Rudman Act of the '80s imposed similar automatic provisions if deficit reduction targets are not met, but these triggers mandated spending cuts not tax increases. Even so, the Supreme Court ruled that the legislation was an unconstitutional delegation of Congress' power to tax. Likely this deal is, as well. But we must head it off before it gets on the statute books.
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