FROM Richard Rubin
Whatever happened to Kansas? Governor Sam Brownback promised that massive tax cuts would be "a shot of adrenaline" to the Kansas economy. Other states have been watching. Five years later, it's shrinking instead of growing; school funding, roadwork and other services have been delayed or de-funded. Last week, fellow Republicans in the legislature overturned Brownback's veto and increased taxes again. We look at the consequences of an experiment in "supply-side economics" — a strategy that's still alive and well in Donald Trump's Washington.
Tax Day - Who Pays What? Yes, it’s April 15th … tax day! Are the rich paying more or less than their fair share? Now there’s a new report by Congress’ Joint Committee on Taxation. It takes a broad look at ALL the taxes we pay -- not just federal income tax -- to see what Americans’ true tax load really looks like.
E-filing Technology Increasing Tax Return Fraud With April 15 looming, tax-filing software makes paying the US Treasury more convenient — but it's also created a new industry for financial fraud. The IRS says it distributed $5.2 billion in fake tax refunds in 2013 alone. Richard Rubin reports on tax policy for Bloomberg News .
Obama Unveils Trillion Dollar Budget President Obama today unveiled a $4 trillion budget that lifts caps on defense spending and expands services for the middle class. It’s designed to challenge the Republican majorities in Congress. Richard Rubin covers taxes and budgets for Bloomberg News.
Can Corporations Be Patriots? Congress adjourned for the summer with tax reform still caught in political gridlock. Since then, President Obama has seized on a tax proposal once buried in his budget to attack a practice multi-national companies use to avoid paying taxes in the US; it’s called “corporate inversion.”
Bailout Bill Goes to the White House Congress reconsidered what's now called the "economic rescue" plan amid dismal news about employment and California's need for a big federal loan. Today the bailout passed by 263 to 171. Saying that passage of the bill won't get us out of the recession, Republican leader John Boehner admitted that "it'll be a whole lot rougher ride if we don't pass this bill." Democrat Nancy Pelosi, the House Speaker, acknowledged that in "my own state of California, officials -- including the governor -- are urgently calling for federal legislation to avoid economic catastrophe." Will the bill resolve the credit crisis? Will taxpayers make money on a $700 billion investment? We ask those questions today.
Janesville and the American Dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn’t prevent the closing of the General Motors factory after 100 years. On this Memorial Day rebroadcast of To the Point, we hear what’s happened to what once was a model of American middle-class unity.
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
Is the threat from Russia missing from the Russia meddling probe? There's much being made about the Trump administration's possible ties with Russia. But the bottom line is Russia's effort to influence American democracy. Do the President and his aides care enough to take action before voters go back to the polls?