Dems in debate urge taxes on wealthiest
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Democratic presidential hopefuls called for higher taxes on the highest-paid Americans and on big corporations Thursday and agreed in an unusually cordial debate that any thought of balancing the federal budget would have to wait.
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Two US senators have proposed a sharp rise in the tax that private equity firms have to pay.
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Senate Democrats are seeking a major reversal of energy tax policies that would reverse incentives and benefits to the oil industry and instead underwrite renewable fuels.
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Both Democrats and Republicans insist they emerged as winners from last week's failed GOP effort to cut taxes on multimillion dollar estates and raise the minimum wage.
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A senior Democrat said yesterday that if Congress tried to raise taxes on U S private equity firms and hedge funds, it must do the same with other partnerships involving oil, real estate, and venture capital.
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WASHINGTON - Congressional tax writers are taking a hard look at elite US universities' multibillion-dollar endowment funds and considering steps to make them spend more of their riches to help students.
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President George W. Bush sought to put tax reform at the center of the US presidential election debate as the Democrats try to exploit weaknesses in the government's economic record.
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A plan to send $500-$1,000 rebates to all but the richest taxpayers advanced in the Senate Wednesday after Republicans and Democrats teamed to add aid for disabled veterans, the elderly and the unemployed to a House-passed economic recovery bill.
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Democratic U.S. presidential candidate John Edwards on Sunday said that he would raise taxes, chiefly on the wealthy, to pay for expanded healthcare coverage under a plan costing $90 billion to $120 billion a year to be unveiled on Monday.
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With Democrats Hillary Clinton and Barack Obama locked in a draw for votes, the battle is on for funds as the longest, most expensive White House race on record drains millions already raised.
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Democratic presidential candidate Hillary Rodham Clinton on Wednesday called for the return of a tax on companies to pay for cleaning toxic waste sites, riling Republicans who called it unfair for firms that do not despoil the environment.
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Democrats have for weeks been privately wringing their hands over whether to accept an automatic 2.5 percent pay increase, fretting that the raise may appear inconsistent with their campaign promises.
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House Democrats' promise to permanently protect millions of middle-class families from a mostly unknown tax increase is faltering before it's even unveiled.
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When Democrats blasted Republicans last fall for taking annual congressional pay raises while blocking numerous attempts to raise the minimum wage, it was an effective campaign tactic. Democrats vowed not to accept the annual cost-of-living hike until Congress increases the minimum wage.
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A Democratic president would raise taxes and ravage the economy, GOP hopeful candidate Rudy Giuliani said Saturday.
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WASHINGTON - The House's leading Democratic tax writer will propose a sweeping overhaul of the tax code that would increase taxes on many people with incomes above $200,000 but cut them for most others.
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Bloomberg - July 5 (Bloomberg) -- Democratic presidential candidate John Edwards embraced the idea of raising taxes on the managers of private-equity firms and hedge funds.