*Lexus imports cars from Japan for China market. Unlike German peers Audi, Volkswagen AG's luxury division and BMW, Lexus imports all of its vehicles sold in China, from Japan. But high tariffs charged on imported cars make it hard to generate volume and last year, Lexus sold around a seventh of Audi's tally and a fifth of what BMW sold in China.» Read More
Obama is looking to close tax loopholes as one way to counter rising debt and reduce the deficit, and he's previously mentioned hedge fund managers in his tirades against tax breaks for the rich, as well as oil companies and corporate jet owners.
House Speaker John Boehner and Congressional leaders discuss their talks with the President on the deficit.
A morning roundup of today's headlines.
"The government is so greedy for control, that they have missed the point," says Dick Armey, former House majority leader, who says the government is piling debt on our children.
Politicians on Capitol Hill are playing with fire on the debt ceiling and need to accept responsibility for the debt crisis rather than engaging in a hypocritical debate on tax and spending, according to Jan Poser, the chief economist at Sarasin in Zurich.
Currency investors are currently debating the merits of a proposed plan to allow a tax holiday for big US multinationals that could see money pour back into America, potentially boosting the dollar.
At a private meeting about deficit reduction at the White House last week, Speaker John A. Boehner told his fellow Congressional leaders and President Obama that he did not spend 20 years working his way up to the top job on Capitol Hill just for the cachet of the title — he wanted to accomplish something big, the New York Times reports.
President Obama hardly needs more taxes to slash the federal deficit, but Congressional Republicans do need new taxes to survive politically. Puzzled? Be not! Washington is a city of paradoxes, where economics may define what is good but politics defines virtue.
A morning roundup of today's headlines.
Tourism is up, says Governor Rick Scott (R-FL), who explains the areas seeing growth in the state.
Instead of sending Minnesota's elected leaders into a frenzy of activity, the nation's only state government shutdown has deepened the political paralysis that led them to their budget standoff.
Anyone considering the purchase of a new automobile has to think about more than just the sticker price, and ask how much the car is going to cost them to own.
Former Vermont Governor Howard Dean shares his thoughts on how the President can make cuts without eliminating benefits such as healthcare and social security.
America’s public sector has not produced many pleasant financial surprises this year. This week, however, one emerged: John Liu, New York City Comptroller, announced that in the year to June 30, the City’s pension fund produced returns of more than 20 percent, raising total assets to $119 billion, according to the FT.
One of the points I’ve been making about “carried interest” is that it isn’t that different from other things that get taxed as capital gains.
Discussing the state of commercial real estate and the economy, with Mort Zuckerman, U.S. News & World Report editor-in-chief and CNBC's Diana Olick.
Debating whether tax breaks for big oil should be cut, with Seth Hanlon, Center for American Progress, and John Felmy, American Petroleum Institute.
CNBC's Eamon Javers reports the latest details on debt ceiling negotiations between President Obama and lawmakers.
Whenever I argue that carried interest is not really so different from other types of capital gains, someone inevitably objects that the critical difference is between investing your own money and investing other people’s money.
An update on the meetings on the U.S. debt limit and insight on whether taxing America's rich will help cut the deficit, with Curtis Dubay, Heritage Foundation; Dean Baker, Center for Economic & Policy Research, and CNBC's Eamon Javers.
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