Political Capital

Daily Archives: January 2, 2013

President Barack Obama and New Jersey Gov. Chris Christie talk with people who are recovering from Hurricane Sandy, while surveying storm damage in Brigantine, N.J., on Oct. 31, 2012.

Official White House Photo by Pete Souza

President Barack Obama and New Jersey Gov. Chris Christie talk with people who are recovering from Hurricane Sandy, while surveying storm damage in Brigantine, N.J., on Oct. 31, 2012.

Christie Slams House for Delaying Sandy Aid Due to ‘Palace Intrigue’

Memo from Chris Christie to Congress: The American people hate you. New Jersey’s outspoken governor was fired up today after House Speaker John Boehner delayed a vote on Hurricane Sandy relief funding. “Disaster relief was something you didn’t play games...

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A Northrop Grumman Corp. KC-45 air tanker refuels a plane in mid-air.

Source: Northrop Grumman Corp. via Bloomberg

A Northrop Grumman Corp. KC-45 air tanker refuels a plane in mid-air.

Defense Industry Gets Reprieve

Shares of top defense contractors rose after U.S. lawmakers reached a last-minute deal to avert automatic spending cuts known as sequestration. Investors’ optimism may be short-lived. The agreement would raise tax rates for the highest earners and extend unemployment benefits....

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Fox News commentator Karl Rove during a Republican Party election night gathering  in Denver on Nov. 6, 2012.

Photograph by David Zalubowski/AP Photo

Fox News commentator Karl Rove during a Republican Party election night gathering in Denver on Nov. 6, 2012.

Crossroads No Non-Profit, IRS Told

Two groups that favor stronger campaign finance laws renewed their complaints against Crossroads GPS, founded with the help of Karl Rove, as they asked the Internal Revenue Service to deny nonprofit status to the organization that spent $71 million to...

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President Barack Obama and New Jersey Gov. Chris Christie look at Hurricane Sandy storm damage along the coast of New Jersey, from Marine One on Oct. 31, 2012.

Official White House Photo by Pete Souza

President Barack Obama and New Jersey Gov. Chris Christie look at Hurricane Sandy storm damage along the coast of New Jersey, from Marine One on Oct. 31, 2012.

Obama-Christie: United by Sandy

President Barack Obama and New Jersey Gov. Chris Christie have a lot in common: Hurricane Sandy. The devastation left by a hurricane-turned-“superstorm” along the coasts of New Jersey and New York placed two of the most visible leaders of two...

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Destroyed homes in the Breezy Point neighborhood of the Queens borough of New York.

Photograph by Scott Eells/Bloomberg

Destroyed homes in the Breezy Point neighborhood of the Queens borough of New York.

Sandy Saga: Republicans `Writing Off New York, New Jersey,’ King Says

Updated at 4:43 pm Rep. Peter King, a New York Republican, says any campaign contributors from his state or neighboring New Jersey who support House Republicans “should have their head examined.” King made his comments today on “CNN Newsroom” after Speaker...

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Protesters rally outside the office of Sen. Marco Rubio on Dec. 10, 2012 in Doral, Florida.

Photograph by Joe Raedle/Getty Images

Protesters rally outside the office of Sen. Marco Rubio on Dec. 10, 2012 in Doral, Florida.

Fiscal Cliff Fast-Forwarded to 2016

The division within the Republican Party can be seen in congressional votes cast on the tax bill and the reaction to its passage, especially among potential 2016 presidential candidates. Rep. Paul Ryan voted yes, while Sens. Marco Rubio and Rand Paul...

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President Barack Obama and Vice President Joe Biden leave the podium after Obama made a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House on Jan. 1, 2013.

Photograph by Charles Dharapak/AP Photo

President Barack Obama and Vice President Joe Biden leave the podium after Obama made a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House on Jan. 1, 2013.

Simpson-Bowles: `Truly Missed Opportunity to Do Something Big’

The tax deal approved in a bipartisan vote of the Senate and House and ready for President Barack Obama’s signature is a far cry from any “grand bargain” on the federal debt. It’s a long way from what Alan Simpson...

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President Barack Obama arrives to deliver a statement in the Brady Press Briefing Room at the White House in Washington, D.C., on Jan. 1, 2013. The House of Representatives passed legislation averting income tax increases for most U.S. workers after Republicans abandoned their effort to attach spending cuts that would have been rejected by the Senate.

Photograph by Brendan Hoffman/Pool via Bloomberg

President Barack Obama arrives to deliver a statement in the Brady Press Briefing Room at the White House in Washington, D.C., on Jan. 1, 2013. The House of Representatives passed legislation averting income tax increases for most U.S. workers after Republicans abandoned their effort to attach spending cuts that would have been rejected by the Senate.

Happy New Taxes Year: Deal Done

On the first day of this odd new year (2013): Democrats in Washington have fought to the end of a protracted debate to preserve the tax cuts that former President George W. Bush won for most American taxpayers. Republicans in...

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A deckhand washes a yacht that is docked in the Sag Harbor Bay in Sag Harbor, New York.

Photograph by Andrew Harrer/Bloomberg

A deckhand washes a yacht that is docked in the Sag Harbor Bay in Sag Harbor, New York.

Bloomberg by the Numbers: $443,910

That’s how much more the top 0.1 percent of taxpayers, on average, will pay in taxes under the budget deal, according to the nonpartisan Tax Policy Center. Folks with incomes over about $2.7 million would see their after-tax incomes reduced by 8.4 percent. They...

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