Wednesday, January 25, 2012
The theme of last night's State of the Union was "an economy built to last." Vowing to protect the middle class and correct economic inequality, President Obama laid out his plans for financial reform: regulating home prices, penalizing banks that participated in the housing crash, imposing the "Buffet rule," and tightening regulations on private equity and Wall Street.
Friday, December 30, 2011
The end of the year is usually a time where people take a look at their finances to get ready for taxes or prepare for the new year. WNYC spoke with Certified Financial Planner Clare Stenstrom, with Bourne Stenstrom Lent Asset Management, Inc., to find out what steps people can take before the year closes out.
Friday, December 09, 2011
Robert Frank, wealth reporter for The Wall Street Journal and author of The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble, and Bust, talks about the pros and cons of taxing the rich and says the risk is not from "rich flight."
Monday, December 05, 2011
By Karen DeWitt : NYS Public Radio/WXXI
Talks are taking place behind the scenes on changes to New York’s tax code that could result in the wealthy paying higher taxes. Governor Cuomo, who is asking for the changes, is also proposing a gambling expansion and other initiatives which he is asking the state legislature to consider later this week.
Wednesday, November 23, 2011
We run through a few stories that might get the conversation going at your Thanksgiving table. We'll hear from three guests...
- Tom Moran, columnist for The Star-Ledger, on how some NJ execs avoid taxes.
- Alice Park, reporter for TIME Magazine, on why anxiety is bad for us...but how it may be good.
- Stephen Dubner, host of Freakonomics, on the nature of momentum in the NFL.
Open Phones: Your suggestions for topics you plan to bring up at the dinner table.
Monday, November 21, 2011
After months of budget negotiations, tensions between Congressional "super committee" members have reached what seems to be a breaking point. With only three days left before their deadline to cut 1.2 trillion dollars from the federal debt, 12 super committee members made the rounds to the Sunday political news outlets and publicly aired their grievances. Republican Jeb Hensarling told "Fox News Sunday," the following: "Unfortunately, what we haven't seen in these talks from the other side is any Democrats willing to put a proposal on the table that actually solves the problems."
Friday, November 04, 2011
Herman Cain has gotten a lot of attention for his 9-9-9 tax plan, Governor Rick Perry recently unveiled his own flat tax proposal, and there have been numerous presidential candidates who have made a flat tax plan the basis of their campaigns. Joseph J. Thorndike is the director of the Tax History Project at Tax Analysts and a contributing editor for Tax Notes magazine looks at the history of the flat tax, how it compares to our current tax system, and what the proposed flat tax plans would mean for the U.S. economy.
Wednesday, November 02, 2011
The Joint Deficit Reduction "Super Committee," put in charge with finding $4 trillion to cut from the deficit, held their fifth public meeting on Tuesday. But the fate of the Super Committee remains unclear as it is unlikely they will come to consensus any time soon. Todd Zwillich, The Takeaway's Washington correspondent, says the hearing was both a pep talk to the committee but also partly a threat. There is a lot riding on them to succeed and a lot of heads could roll if they fail.
Tuesday, October 25, 2011
Mitt Romney lost the New Hampshire GOP primary to John McCain in 2008, but he's hoping 2012's primary will be different. Romney received a key endorsement from the granite state's former governor, John H. Sununu. New Hampshire will hold the first presidential primary in the nation in January after the Iowa caucuses. While Romney continues to be the front runner in the GOP race, support for the former Massachusetts governor remains tepid at best. With a history of modified positions and the albatross of "Romneycare," the Massachusetts health care reform legislation that served as a model for President Obama's health care reform, hanging around his neck, many in the GOP base question Romney's conservatism.
Monday, October 17, 2011
Tax policy reporter at Bloomberg News, Richard Rubin gives analysis of GOP presidential candidate Herman Cain's 9-9-9 economic plan and explains what tax experts are saying about the proposal.
Friday, October 14, 2011
The rallying cry from Zuccotti Park has been — "We are the 99 percent" — essentially that 99 percent of the population has been disenfranchised by a slim minority. The phrase sparked a Tumblr blog where people tell their stories of despair in the economic downturn. But recently, another Tumblr blog has popped up that looks eerily similar to the 99 percenters. "We are the 53 percent" is a reference to the 52 percent of Americans who pay taxes. The blog is collecting stories from people who are frustrated by fellow citizens who the believe are asking for government handouts instead of working themselves.
Friday, October 07, 2011
By John Hockenberry : Host, The Takeaway
Americans have a fear of taxes, period. There's a historical precedent for this, detailed in every middle school kid's history book, and as it relates to the history of tyranny, it's an understandable fear.
We often bury this fear in mounds of denial and guilt, sort of like the silly idea that we live in a world without obscenities. You know, Planet Family Values, where the Gods bleep out everything we're not supposed to hear. Bleeps are, of course, a form of emphasis, not suppression.
Friday, October 07, 2011
— David Leonhardt, Washington bureau chief for the New York Times, on The Brian Lehrer Show.
Friday, October 07, 2011
On Thursday, President Obama spoke at a press conference from the White House on his jobs proposal, calling it "an insurance policy against a possible double-dip recession." Obama hopes to fund the plan via a plan pitched by Senate Democrats this week, to tax Americans with incomes above one million dollars per year. Senate Leader Harry Reid plans to bring the jobs bill to the Senate floor next week.
Thursday, October 06, 2011
In the current economic downturn, governments around the world are looking to crack down on tax loopholes—corporations have been able to take advantage of tax breaks and loopholes that add up to billions of dollars in lost tax revenue. On today’s Underreported, ProPublica senior reporter Jeff Gerth and Megan Murphy, Investment Banking Correspondent for the Financial Times, describe how corporations are saving billions and how governments are now trying to close some of these loopholes.
Thursday, October 06, 2011
On Wednesday, Senate Democratic leaders proposed a five percent surtax on Americans with incomes of $1 million or more per year. Senate majority leader Harry Reid said the surtax would raise nearly half of $1 trillion over the next decade, which is the amount necessary to cover President Obama's jobs bill. A recent CBS news poll showed that 64 percent of Americans think that those who earn more than $1 million per year should pay more in taxes, which means the public may be on board for the new tax. Now, Democrats will need to gain Republican support for the measure.
Monday, September 19, 2011
President Obama will announce a deficit reduction plan today that will reduce government spending by $3 trillion through cutting entitlements, tax increases, and war savings. The plan is the White House's opening offer to the Congressional "super committee," which has until Dec. 23 to reach a deal on deficit reduction. GOP lawmakers have already labeled the proposed tax hikes "class warfare," particularly the so-called "Buffet Rule." Named for billionaire Warren Buffett, who has repeatedly called for higher taxes on the rich, the rule imposes a minimum tax rate on those earning more than $1 million per year. Many Republicans contend that taxing the wealthy will only worsen the economy.