Advertisement
HomeCollectionsCuts And Tax
IN THE NEWS

Cuts And Tax

FEATURED ARTICLES
NEWS
By John W. Frece and John W. Frece,Evening Sun Staff | January 16, 1992
Any way they looked at it, the menu of budget cuts and tax increases was a sorry bill of fare.But General Assembly leaders seemed confident yesterday that they could mold a politically poisonous list of options they had produced into a workable plan to eliminate Maryland's projected $1.2 billion budget deficit."
ARTICLES BY DATE
NEWS
May 31, 2012
It's bad enough when economists contradict each other, but it's even more frustrating when they contradict themselves. Or, as George Bernard Shaw once observed, if all economists were laid end to end, they still wouldn't reach a conclusion. That thought came to mind last week when the Congressional Budget Office reported that "Taxmageddon," the combination of expiring tax cuts and spending cuts scheduled to take effect in January, could push the nation back into recession. That's a worrisome prospect that appears to have gotten the attention of Congress.
Advertisement
NEWS
March 17, 1991
Montgomery County Executive Neal Potter was accurate when he described release of his $1.6 billion budget as "a day when we make everybody mad." His plan, shaped by a wilting local economy and yawning gap in projected revenue, is one of the harshest budgets to hit Montgomery.Virtually no corner of government has escaped the fiscal ax. A round of cuts totaling $102 million would vastly curtail government services, translating into larger elementary school classrooms, trimmed library hours, fewer bus routes and emergency shelters and reduced psychiatric treatment for youthful offenders.
NEWS
September 19, 2011
A whole lot of Democrats and independents were probably delighted to hear President Barack Obama demonstrate a little more resolve in the deficit reduction debate today. In unveiling his $3 billion proposal to reduce federal debt over the next decade through both spending cuts and tax increases, the president also outlined some core principles — among them that he won't support any measure that requires the middle class and poor to do all the sacrificing in order to preserve tax loopholes and other advantages for the rich.
NEWS
By Los Angeles Times | February 7, 1993
WASHINGTON -- President Clinton said yesterday that his economic program would require courage and sacrifices to do "something no generation has ever had to do before."Laying groundwork for the spending cuts and tax increases he plans to announce Feb. 17 in his State of the Union address, Mr. Clinton said the greatest burden will be borne by the rich, whom he described as "those who got the most and gave the least during the past dozen years.""While most Americans paid higher taxes on lower real incomes, the privileged few paid lower taxes on much higher real incomes," Mr. Clinton said in a five-minute radio address, his first as president.
NEWS
By Carl M. Cannon and Carl M. Cannon,Washington Bureau | May 13, 1993
WASHINGTON -- President Clinton, seizing on the public mood to end deficit spending, vowed yesterday to set up a "legally separate" trust fund that would guarantee that tax increases he has proposed would go toward reducing the government's annual deficit."
NEWS
By SUN STAFF | October 12, 1997
Good news from Washington:The federal deficit is smaller than expected -- about $23 billion in the year that ended last month. Next year, if the economy remains strong, there may even be a surplus.Why does it matter? Because when the government spends more than it collects in taxes, it has to borrow the difference. When it borrows, it competes for money with families borrowing for new homes and with businesses borrowing to expand. The competition for money raises interest rates, increasing the cost of borrowing for everyone.
BUSINESS
By Gilbert A. Lewthwaite and Gilbert A. Lewthwaite,Washington Bureau | September 17, 1992
WASHINGTON -- President Bush's rejection of new taxes was questioned at home and abroad yesterday when a prominent U.S. business group and the International Monetary Fund both asserted that an increase in federal revenues should come alongside spending cuts to reduce the deficit."
NEWS
By Scott A. Hodge | March 19, 1992
AFTER MONTHS of political squabbling over how to jump start the economy, both the House and Senate seem to agree on one thing: Something must be done to lighten the crushing tax burden on middle-class American families.The Senate soon will debate a tax bill that alleviates the tax burden on some Americans, but does so by raising taxes on others -- and without giving a much-needed boost to the sagging economy. The bill would cut taxes on average working families by increasing taxes on those with incomes above $150,000 a year -- those who typically invest and create jobs.
NEWS
By Phillip McGowan and Phillip McGowan,sun reporter | March 21, 2007
A majority of county residents support a mixture of tax increases and cost cuts to tackle looming budget challenges, yet about the same number don't trust the local government to strike the right balance, according to a new Anne Arundel Community College survey. Fifty percent of the 529 residents polled two weeks ago also said they supported a school system that is of "absolute top quality regardless of the cost." Only a quarter, however, supported raising taxes to pay for the $133 million increase in education spending proposed by Superintendent Kevin M. Maxwell.
NEWS
By Annie Linskey and Annie Linskey,annie.linskey@baltsun.com | January 17, 2010
Wait 'til next year. That's the theme of this year's General Assembly session when it comes to contentious possible solutions to the fiscal mess Maryland - like all other states - finds itself in. The theme bothers Republicans. They worry that higher taxes might be pushed through Annapolis next year by a Democratic majority fretful about making such moves before November's elections. "They are trying to use smoke and mirrors and Band-Aids to get through this year," said Senate Minority Leader Allan H. Kittleman, a Howard County Republican.
NEWS
By Gadi Dechter and Gadi Dechter,gadi.dechter@baltsun.com | October 12, 2008
Frederick W. Puddester is chairman of For Maryland For Our Future, a pro-slots ballot committee. Puddester was state budget secretary under former Gov. Parris N. Glendening, and is an associate dean for finance and administration at the Johns Hopkins University. Gov. Martin O'Malley, a slots supporter, named Puddester chairman of the Maryland Stadium Authority last year. How is the campaign going and what aspect of it has surprised you? The campaign is going very well. We built a broad-based coalition - teachers, labor, the business community and policemen - so our ability to get our message out is enhanced and I think it's working.
NEWS
By Phillip McGowan and Phillip McGowan,sun reporter | March 21, 2007
A majority of county residents support a mixture of tax increases and cost cuts to tackle looming budget challenges, yet about the same number don't trust the local government to strike the right balance, according to a new Anne Arundel Community College survey. Fifty percent of the 529 residents polled two weeks ago also said they supported a school system that is of "absolute top quality regardless of the cost." Only a quarter, however, supported raising taxes to pay for the $133 million increase in education spending proposed by Superintendent Kevin M. Maxwell.
NEWS
By SUN STAFF | October 12, 1997
Good news from Washington:The federal deficit is smaller than expected -- about $23 billion in the year that ended last month. Next year, if the economy remains strong, there may even be a surplus.Why does it matter? Because when the government spends more than it collects in taxes, it has to borrow the difference. When it borrows, it competes for money with families borrowing for new homes and with businesses borrowing to expand. The competition for money raises interest rates, increasing the cost of borrowing for everyone.
NEWS
By Carl M. Cannon and Carl M. Cannon,Washington Bureau | May 13, 1993
WASHINGTON -- President Clinton, seizing on the public mood to end deficit spending, vowed yesterday to set up a "legally separate" trust fund that would guarantee that tax increases he has proposed would go toward reducing the government's annual deficit."
NEWS
By Los Angeles Times | February 7, 1993
WASHINGTON -- President Clinton said yesterday that his economic program would require courage and sacrifices to do "something no generation has ever had to do before."Laying groundwork for the spending cuts and tax increases he plans to announce Feb. 17 in his State of the Union address, Mr. Clinton said the greatest burden will be borne by the rich, whom he described as "those who got the most and gave the least during the past dozen years.""While most Americans paid higher taxes on lower real incomes, the privileged few paid lower taxes on much higher real incomes," Mr. Clinton said in a five-minute radio address, his first as president.
NEWS
By Dan Fesperman and Stephen E. Nordlinger and Dan Fesperman and Stephen E. Nordlinger,Washington Bureau of The Sun | October 4, 1990
WASHINGTON -- A little-noticed tax break inserted into last weekend's budget agreement could turn out to be a bountiful loophole for wealthy investors and their lawyers and accountants, critics said yesterday, setting up a Rich vs. Poor showdown on the matter today in Congress.The tax break, intended to help small businesses by rewarding investors in such concerns, was added to the compromise of spending cuts and tax increases to mollify the White House after congressional leaders rejected President Bush's proposal to cut the tax on capital gains from the sale of investments.
NEWS
By John W. Frece and Sandy Banisky and John W. Frece and Sandy Banisky,Staff Writers | February 24, 1992
Citizens to legislators: Raise taxes and stop slashing state programs.That's the clear message from Marylanders surveyed in The Sun Poll."People are seeing the state of Maryland going down the tubes," said John Gregory, a 48-year-old Perry Hall Middle School math teacher who was among the poll's respondents. "To prevent that from happening, I'd be willing to have them take a little more and get us going in the right direction."Despite pressures brought on by the recession, two-thirds of the poll's respondents said they would rather see the General Assembly adopt a combination of budget cuts and tax increases than try to balance the budget exclusively through deep cuts in government spending.
BUSINESS
By Gilbert A. Lewthwaite and Gilbert A. Lewthwaite,Washington Bureau | September 17, 1992
WASHINGTON -- President Bush's rejection of new taxes was questioned at home and abroad yesterday when a prominent U.S. business group and the International Monetary Fund both asserted that an increase in federal revenues should come alongside spending cuts to reduce the deficit."
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.