Grover Norquist Gives Green Light to Tax Revenue Increase? (ContributorNetwork)

By James Kwak

Internet sales tax headed for Senate vote with strong support from anti-tax Republicans WASHINGTON (AP) — You don't see this very often: a majority of Senate Republicans voting to make people who buy stuff on the Internet pay state and local sales taxes.

By James Kwak

Saturday night’s news on the debt ceiling talks is depressing even if not surprising.  As the Washington Post’s Paul Kane and Lori Montgomery report:

WASHINGTON — Congressional leaders on Sunday showed no signs of emerging from their corners to resolve the next step in the financial crisis, with Democrats still talking about higher taxes on the wealthy and the Senate’s top Republican suggesting that a crippling default on U.S. loans was possible unless there were significant cuts in government spending.

WASHINGTON – Taking to Twitter to press his case in “fiscal cliff” talks with Congress, President Barack Obama said on Monday that tax breaks benefiting middle class families such as the mortgage interest deduction could be at risk if rates for top earners do not rise. Obama is locked in negotiations with Congress to prevent a year-end fiscal crunch. If the administration and lawmakers fail to agree, across-the-board tax hikes and spending cuts would go into effect that analysts say would tip the economy back into recession.