Social Security Part of Cuts in Obama’s Budget Plan
Andrew Harrer/Bloomberg via Getty Images(WASHINGTON) — President Obama outlined a $3.77 trillion budget plan on Wednesday that aims to reduce the deficit by raising taxes on the wealthiest Americans and cutting popular entitlement programs, saying &ld…
Eliminating Charitable Deduction Would Help Budget, Hurt Charities
Photodisc/Thinkstock(WASHINGTON) — Looking for a way to put hundreds of billions of dollars back into the federal budget? Eliminating the charitable giving deduction would do just that.The charitable giving deduction is the piece of tax code that allo…
What Would France’s 75% Tax Rate Look Like in US?
iStockphoto/Thinkstock(NEW YORK) — The French government’s budget presented Friday, which is imposing a 75 percent tax rate for income exceeding 1 million euros ($1.39 million), is expected to inspire a number of wealthy French to move their res…
Can Congress Avoid Fiscal Cliff? Boehner ‘Not Confident At All’
TOBY JORRIN/AFP/Getty Images(WASHINGTON) — House Speaker John Boehner bluntly assessed the prospects for a bipartisan agreement on deficit reduction and called on President Obama to demonstrate leadership by unveiling his administration’s plan t…
As ‘Fiscal Cliff’ Looms, Obama to Sign Bill Detailing Budget Cuts
Ingram Publishing/Thinkstock(WASHINGTON) — Layoff notices could begin going out this fall, warning many of those who work for and with the federal government that they’ll lose their jobs if previously agreed upon spending cuts take effect.Unless a dea…
Aquarius, World’s Only Undersea Lab, Endangered by Budget
National Oceanic and Atmospheric Administration(NEW YORK) — Sixty feet down in the waters off Key Largo, Fla., the water around the National Oceanic and Atmospheric Administration’s Aquarius laboratory is clear, warm and blue. Marine scientists …
House, Senate Unanimously Reject Obama Budgets — Or Do They?
Hemera/Thinkstock(WASHINGTON) — The White House on Wednesday reacted to news that representations of President Obama’s budget had been voted down by the House and Senate by decrying the introduction of the amendments, by Republicans, as “g…
CBO Reports First Monthly Budget Surplus in Three Years
Comstock Images/Thinkstock(WASHINGTON) — The Congressional Budget Office has reported a monthly budget surplus of $58 billion, which would be a first in nearly three years.The improved numbers are attributed to a 10 percent increase in tax revenue.&nb…
Obama Blasts ‘Radical’ GOP Budget as ‘Prescription for Decline’
Alex Wong/Getty Images(WASHINGTON) — President Obama on Tuesday will accuse his Republican rivals of supporting a budget that is nothing more than a “Trojan Horse,” as he continues to cast himself as a defender of the middle class.“D…
Biden to Thrust Medicare into Election Spotlight
Joe Raedle/Getty Images(WASHINGTON) — Vice President Joe Biden will elevate Medicare as a central issue in the 2012 campaign Friday with a speech accusing the Republican presidential candidates of wanting to “dismantle” it. “Make no …