As if jumping executives from the roofs of bank and wall street buildings wasn’t enough of a public sidewalk hazard, the House overwhelmingly passed a near total tax on bonuses paid to employees of AIG and other bailout biters. And to really nail the coffin – it’s retroactive.
The House vote sent some employees into a [...]
Thursday, February 26, 2009
Obama is expected to start the process of removing hedge fund tax breaks.
If there is one tax loophole that looks dead in the water, it’s the law that lets hedge fund and private equity managers pay a 15-percent capital-gains rate on the multimillion-dollar fees they collect — substantially less than the top income tax rates [...]
Sunday, February 22, 2009
After a string of costly bailout and stimulus measures, President Obama will set a goal this week of cutting the annual deficit at least in half by the end of his term, administration officials said. The reduction would come in large part through Iraq troop withdrawals and higher taxes on the wealthy.
Story on NYTimes
Tuesday, February 17, 2009
Swedish newspaper E24 ran a story yesterday with the headline “Made in Sweden is hot again”.
Not since prime minister Olof Palme compared the bombings of Hanoi with Treblinka has Sweden been so debated on the other side of the Atlantic. In the times of financial crisis and regressing export markets the panicked Americans doesn’t want [...]
Thursday, January 29, 2009
In a swift victory for President Barack Obama, the Democratic-controlled House approved a historically huge $819 billion stimulus bill Wednesday night with spending increases and tax cuts at the heart of the young administration’s plan to revive a badly ailing economy.
The White House-backed legislation includes an estimated $544 billion in federal spending and $275 billion [...]
Tuesday, January 27, 2009
The administration today placed a phone call to Citibank, who received $45 billion in goverment bailout, about their plans to buy a new $50 million corporate jet. They were told to “fix it”.
The New York Post’s Jennifer Keil and Chuck Bennett reported in Monday’s paper that Citigroup, which has received $45 billion in government bailout [...]
The House Ways and Means Committee has approved $275 billion in tax cuts
The House Energy and Commerce Committee late Thursday approved a $2.8 billion program that would expand broadband service into underserved areas.
It also approved various programs costing an estimated $27 billion to promote energy efficiency.
On a key vote Democrats preserved a tax break for [...]
