Jared Meyer interviewed former San Diego City Council member Carl DeMaio on March 24 on the subject of what can be done to solve the growing problem of the state and local pension debt crisis. DeMaio now chairs Reform California, a political action committee seeking to place pension reform on the ballot statewide.
A new report by the non-partisan Tax Foundation shows that America has higher capital gains tax rates than other industrialized countries. Nevertheless, President Obama is pushing Congress to raise taxes on capital gains still further. America’s tax treatment of capital gains already raises the cost of capital and reduces investment, and raising rates would create more disincentives to business investment and growth.
This week the House and Senate Budget Committees released their proposed budgets for fiscal year 2016. The chambers will go to conference on the budgets after the Easter recess, and a unified budget should pass Congress by the summer.
Netflix subscribers who have been binge-watching the new season’s “House of Cards” need to send their gratitude to Maryland taxpayers. In a real-life drama that could be straight out of a “House of Cards” scene, the show’s producers have been binging on Maryland taxpayers’ money, while schmoozing and extorting legislators whenever necessary.
The fight over Department of Homeland Security funding has just ended and the next showdown over the country’s finances is already underway. The temporary suspension of the debt ceiling will soon expire, and the countdown to default will begin March 16.
Congressional Republicans were elected on a platform of cutting spending, but taxpayers will continue to pay for Amtrak’s losses for at least 5 more years if a bill that just passed the House becomes law. Can’t Congress do better?
With their selection of Keith Hall to direct the Congressional Budget Office (CBO), the incoming chairs of the House and Senate Budget Committees, Dr. Tom Price and Senator Mike Enzi, have passed an unusually rigorous test.