Topic: Taxes

President Obama will call for cutting the top 35 percent corporate tax rate as early as this month, according to two sources close to the administration.

President Barack Obama will project a $901 billion deficit for fiscal 2013 in his upcoming budget proposal, a sharp drop from the funding gap this year, a White House official said on Friday.

Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but euro zone finance ministers demanded more measures and a parliamentary seal of approval before providing the aid.

Few people played a more pivotal role in the surge for Rick Santorum than Foster Friess, an investor who made millions in mutual funds and now lives in Wyoming, The New York Times reports.

The unemployment estimates that Obama's administration will release next week underpin its forecasts on the path of budget deficits and the national debt. But the economic assumptions used are usually calculated many weeks before the budget is actually unveiled.

Greek leaders clinched a long-stalled deal on reforms and austerity measures needed to secure a bailout and avoid a messy default just hours before the country's financial backers were to meet in Brussels on Thursday.

Until the current tax system is completely reformed, we Americans have the right to life, liberty, the pursuit of happiness and our cherished tax deductions.

The Bank of England voted to inject another 50 billion pounds ($79.3 billion) into the financial system as part of its efforts to shore up a fragile recovery in the economy, which remains at risk of slipping back into recession.

Stephen Hester has revealed that the dramatic restructuring of Royal Bank of Scotland has cost 38 billion pounds ($60.5 billion) in a rallying memo to staff days after the embattled chief executive waived a 1 million pounds bonus, the Financial Times reports.

In his 2013 budget on Feb. 13, President Obama will likely propose a list of changes to the US tax code, including a revival of past ideas and some new ones aimed at jump-starting U.S. hiring.

With  Mitt Romney appearing to be cementing his position as the GOP front-runner, President Obama’s aides and campaign staff have intensified their focus on his flubs, The New York Times reports.

As well as the Cortina operation, which caught numerous Ferrari owners apparently earning less than 30,000 euros ($34,000) a year, police have descended on nightclubs and bars in Milan and shops in Rome where fewer than half were issuing proper receipts.

Is it possible to pay more than all of your taxable income? For one businessman, an eye-popping bill can be traced to punitive U.S. tax polices. Meet Mr. 102%. The New York Times reports.

While Mitt Romney is taking a hard line on immigration even as the Republican primaries head toward the heavily Hispanic states of Nevada, Colorado and Arizona, the Mormon Church to which he belongs has become a decisive player in promoting policies that are decidedly more friendly toward immigrants, The New York Times reports.

A failure to implement sales tax hikes in Japan is certain to hurt market confidence, IMF Deputy Managing Director Naoyuki Shinohara said on Friday, warning a loss of market trust in Japan's fiscal policy could come suddenly with a massive impact.