It seems to me that the debate about the pending expiration of the Bush tax cuts boils down to a very difficult choice between two bad outcomes. Despite what some politicians would have us believe, extending the cuts will adversely affect a very bad deficit situation.
Tens of thousands of people rallied at the steps of the Lincoln Memorial on Saturday, summoned by Glenn Beck, a conservative broadcaster who called for a religious rebirth in America at the site where the Rev. Dr. Martin Luther King Jr. delivered his famous “I Have a Dream” speech 47 years ago to the day.
Michael Brown, the former administrator of the Federal Emergency Management Agency and the initial poster child for all that went wrong in the aftermath of Hurricane Katrina, is visiting New Orleans for the fifth anniversary of the event that made him said poster child.
Even if the Bush tax cuts for the wealthy—those making over $250,000 a year—are taken away, it doesn’t necessarily mean they’ll be paying more in taxes, according to one tax expert.
You can argue the deficit battle must wait until the economy is on more solid footing, but you cannot argue that the tax debate does not have significant impact on the deficit.
There are many books written about the global economy’s collapse by those who can quote their ‘inside’ sources, but the ultimate ‘insider’ — the man who was actually IN the INSIDE and at the very center of the storm — tells his story in "On the Brink: Inside the Race to Stop the Collapse of the Global Financial System."
While tax rates might have some impact at the margin, I think hiring is driven primarily by the state of business. If a businessperson sees growing demand for his/her products or services and if that growing demand can only be satisfied by the addition of employees, then the businessperson will hire more employees. To not do so would allow the business to stagnate or would allow more aggressive competitors to take market share.
Death may still be certain, but taxes have never been less so. The NYT looks at our uncertain future.
It's a bad time to repeal the Bush tax cuts. I used to agree, but now I’m not so sure. I’m not saying I disagree, just that I’m not so sure. I started to think about it more when I readthat Alan Greenspan supports the complete expiration of the Bush tax cuts.
Lower tax rates clearly help the poor and the middle class increase their spending. But the same can’t be said for the rich.
The Treasury’s study on Fannie, Freddie and housing finance must be delivered to Congress by the end of January 2011. In a speech last week, Timothy F. Geithner, the Treasury secretary, told a New York audience that resolving the companies isn’t “rocket science.” But attaining genuine remedies for our housing finance system could actually be harder than rocket science.
Employees in Louisiana and Colorado took meals, gifts and sporting trips paid for by the industry, and several Colorado officials had sex and used drugs with industry employees. But the agency’s culture was shaped by forces much bigger than small-time corruption.
Mr. Greenspan is wading into the most fierce economic policy debate in Washington — what to do with the tax cuts adopted, in large part because of his implicit backing, under President George W. Bush — with a position not only contrary to Republican orthodoxy, but decidedly to the left of President Obama.
The nascent US economic recovery would be halted in 2011 if Congress fails to extend the Bush tax cuts for the wealthiest Americans, analysts at Deutsche Bank said.
With pressure mounting on the federal government to find new revenues, legislators are considering legalizing, and taxing, an activity it banned just four years ago, reports the New York Times.
Whether or not Elizabeth Warren is named to run the bureau may depend on how willing the president is to anger the banks yet again, and whether he is willing to risk a big confirmation battle in the Senate.
The results don't reflect well on the home states of these leaders, regardless of their politics.
Congress is likely to keep the Bush tax cuts for taxpayers making $250,000 and below, Sen. Byron Dorgan (D-ND) told CNBC Friday.
In midday trading, stocks inched higher for a fourth day Friday, putting the markets on-track for the best week of trading in more than a year.
The government should extend the Bush tax cuts to put money to work and help share prices, Dennis Gartman, founder of The Gartman Letter, told CNBC Wednesday.