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Home :  Federal Budget & Tax : 
Federal Budget & Tax:      News     Blog     Background    



Wednesday, September 17, 2008

Happy Birthday OMB Watch!

We'll be shutting down the BudgetBrigade a bit early today to head off to OMB Watch's 25th Anniversary celebration. Yup, that's right. OMBW is 25 years young this year and we're primed and ready for our quarter life crisis! We're taking some time to celebrate tonight with friends and supporters and remember 25 years of fighting for a more transparent and accountable federal government.

While we are looking back over some of our accomplishments of the last quarter century (and honoring the unsung work of some of our public sector colleagues), we are also looking forward to the challenges we'll face over the next 25 years and beyond.

You will be a key part of overcoming those future challenges, just as you've been crucial to our past accomplishments. Your involvement, along with hundreds of thousands of people just like you has helped to make us the success we are today. So thank you for your commitment to the open and accountable ideals that have helped guide OMBW over the past 25 years.

And if you want to help make sure those ideals continue to be realized, consider making a small donation to OMB Watch in honor of our 25th birthday. Your contribution will join with hundreds of others who want to ensure we are able to continue our mission and the important work we do everyday.



Posted by Adam Hughes, 02:16:51 PM



Tuesday, September 02, 2008

CBPP: Taxes on the Rich Don't Hurt Small Businesses

The Center on Budget and Policy Priorities released an analysis this past Friday afternoon examining the impact of tax cuts for high-income households. In particular, the analysis attempts to understand the impact those tax cuts would (or would not) have on small businesses.

CBPP used a broad definition of small business in their analysis when they looked at the impact of increasing the top two marginal tax rates, retaining the estate tax, and closing the carried interest loophole. The paper concludes:

Claims that changing the top income tax rates, maintaining a viable estate tax, or eliminating the carried interest tax loophole would harm small businesses are either exaggerated or empty. The data clearly show that only a very small proportion of small businesses are affected by these tax policies. (The carried interest rules may not affect any small businesses at all.) This is true even when one uses an overly broad definition of "small business" that classifies substantial numbers of high-income taxpayers as "small-business owners" because they receive some income from passive business investments.

BIG MISCONCEPTIONS ABOUT SMALL BUSINESS AND TAXES



Posted by Adam Hughes, 03:46:59 PM




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