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Rep. Tom Cole: If GOP ‘digs in’ then taxes go up for everyone
Rep. Tom Cole (R-OK) warned on Wednesday that the debate over the looming fiscal cliff could “poison” the next four years if Democrats and Republicans don’t learn to work together. “If either side feels like they quote ‘won’ in the negotiation, two things will happen,” he told the Associated Press…
Protests begin outside Parliament after Portugal passes austerity budget
The Portuguese parliament adopted on Wednesday a 2013 austerity budget that includes draconian tax increases required by international creditors, in the teeth of swelling street protests. The country’s ruling centre-right coalition had the votes to push the budget through despite opposition from the Socialist and extreme left parties. Several thousand…
Republican state legislator: Signing tax pledge gives authority to outside group
Lawmakers should be focused on representing their constituents rather than adhering to pledges like the one from Americans for Tax Reform, according to one Republican Pennsylvania legislator. “I never sign tax pledges. I just don’t,” State Rep. John Bear told Think Progress. “I don’t believe in signing tax pledges and…
Higher state taxes on the rich won’t drive them out: study
The threat that wealthy people will simply pull up stakes and move if their taxes are raised has often been deployed in an effort to prevent states from doing just that. However, a new paper (pdf) suggests that the threat has been greatly exaggerated. The study, by Universeity of Massachusetts…
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