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Decoder Wire
Obama ad hits Romney Swiss bank account. Effective? (+video)

A new attack ad accuses Mitt Romney of sending jobs overseas and stashing his cash in a Swiss account. Political scientists are dubious that attack ads are as powerful as some think they are.
Difference Maker
Tax day: 1040 reasons you should know Nina Olson

Nina Olson is the National Taxpayer Advocate – the voice of the public at the IRS. She's trying to help you navigate the tax code you love to loathe.
Obama vs. Romney: Who's most 'elitist' and out of touch?

Barack Obama and Mitt Romney are both Harvard graduates. Both are wealthy, although Romney is much richer. Each campaign is trying to paint the other as a candidate for American's wealthy, not the ordinary voter.
Germany tries to convince Swiss banks to play by its rules

Germany and Switzerland signed a treaty today in which Switzerland agreed to impose taxes on Germans' secret accounts in Swiss banks, but the deal still falls short of the transparency Germany wants.
Mitt Romney wins big in Florida primary, retakes lead for nomination (+video)

Early reports in the Florida primary show that Mitt Romney has a double-digit lead on Newt Gingrich. Romney's organization and improved debate performances appeared to be decisive.
Conservatives turn on Newt Gingrich, compare him to Bill Clinton

A growing number of critics on the right are casting aspersions on the conservative credentials of Newt Gingrich, saying that he, like Bill Clinton, is a '1960s-generation self-promoter.' Gingrich dismisses the claims as the sour grapes of Republican elites.
Tax VOX
Why does Mitt Romney manage his investments from the Caymans?

Mitt Romney's holdings in the Cayman Islands have generated lots of interest in investment funds that are managed from the U.S. but incorporated in foreign jurisdictions. The real winners in these arrangements are U.S. tax-exempt entities, not Mitt Romney and the investors themselves.
Mitt Romney now says he'll make public his tax returns

Under pressure over his wealth at a time when many Americans are struggling, and coming off a drubbing in the South Carolina primary, Mitt Romney says he’ll release his tax returns this week.
Why does Mitt Romney have money in the Caymans? Two potential reasons.

The Cayman Islands used to be known as a 'tax haven.' That's not necessarily true anymore, but there could be other reasons for Mitt Romney use the Caymans to store his millions.
South Carolina Republican debate: Surging Newt Gingrich scores (+video)

In the Republican debate Thursday night, the former House speaker won two standing ovations during one exchange alone. Three of four polls out Thursday showed Newt Gingrich slightly ahead of Mitt Romney for the lead in South Carolina.
Republican debate brings out aggression in candidates

Republican debate getting spicy: South Carolina held the latest Republican debate and the candidates didn't hold their punches. While Romney says the candidates should focus on Obama, he and the others took more jabs than usual at each other in this debate.
South Carolina debate: Gingrich and Romney face each other - and their baggage

Mitt Romney and Newt Gingrich are very close in South Carolina polling. Going into Thursday night's four-man debate, the two front-runners each have new personal issues facing them.
Art market: masterful returns

Art funds let you own a share of a portfolio. Some funds have bested the S&P 500.
Robert Reich
Deficit won't budge without raising taxes on the rich

There are plenty of ways to cut spending, but without raising taxes for the super rich, the deficit won't get any smaller
Swiss bank account? Better report it now.

The IRS is offering partial amnesty for Americans who report previously undisclosed Swiss bank or other foreign bank accounts.
How dictators stash their cash 101: Egypt, Libya not alone in losing assets

Switzerland says it has returned more than $1.5 billion over the past 20 years, but money laundering continues on a grand scale. 'It's like untying the Gordian knot,' says a former Department of Justice official.
Cayman Islands sinking US ship to create reef

Cayman Islands: Crews carefully flooded the rusty hulk so the 2,200-ton ship would settle upright. Holes were punched in the hull and large pumps gradually piped sea water into the ship, which was compartmentalized into three sections.
Madoff victims to receive $7.2 billion from Jeffry Picower estate

The $7.2 billion from the estate of philanthropist Jeffry Picower represents the largest forfeiture in US history. So far, $9.8 billion has been collected on behalf of Bernard Madoff victims – nearly half the $20 billion that investors lost.
Tropical Storm Nicole forms over Cuba, may skirt Florida

Tropical Storm Nicole struck central and eastern Cuba on Wednesday and is heading toward the Bahamas.
Hurricane Igor: Will it reach Bermuda?

Hurricane Igor could weaken and be over Bermuda by Sunday, forecasters say. But the path could change.
Robert Reich
Labor Day lessons from 1928

Policies that generate more widely shared prosperity lead to stronger and more sustainable economic growth — and that’s good for everyone.
Stefan Karlsson
Robert Reich is wrong. The rich don't hurt US output.

There's no evidence that spending or investment decisions by the rich hurt US output.
At deepest hydrothermal vent yet found, an 'awe-inspiring' view

Scientists have found a hydrothermal vent community three miles beneath the sea near the Cayman Islands. Other vents have led to the discovery of new and exotic creatures.
In Pictures: The 20 weirdest fish in the ocean
Olympics blog
Why the Winter Olympics beat American Idol's ratings

The Winter Olympics beat the US audience ratings of TV's most popular show, American Idol – a feat no other TV show has done in six years. That popularity extends worldwide with a record 82 countries participating, including newcomers from Pakistan to Peru.