Topic: U.S. Department of the Treasury
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Ten tax moves to protect yourself from the fiscal cliff
Americans are facing an unprecedented tax increase of nearly $500 billion on Jan. 1, 2013, from the so-called "fiscal cliff." Are you ready? Here are 10 year-end tax strategies I recommend:
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Briefing
Obama vs. Romney 101: 3 ways they differ on regulation
Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
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Focus
Recession in America? 10 questions assessing the threat.
Concerns about weak economies in Europe have already rattled global financial markets, and things are hardly rosy at home. Is America heading into a recession? Here are answers to 10 questions about that risk.
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Major gay marriage cases in federal court and where they stand
Battles over same-sex marriage have been raging in the federal courts for several years. Two could reach the US Supreme Court within a year: one challenging California's ban on gay marriage under Proposition 8, and the other seeking to invalidate the federal Defense of Marriage Act (DOMA). Here are the cases to follow.
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Seven retirement questions you need to answer
Retirement planning isn't easy. Nearly half of Americans don't feel financially prepared to live to age 75, according to a survey from Northwestern Mutual. But the process is a lot less burdensome if you break the task down into simpler parts. Here are seven questions to ask as you plan for your long-term financial security in retirement.
All Content
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30-year mortgage rate under 4 percent
30-year mortgage rates fall slightly to an average 3.98 percent, near record low of 3.87 percent that 30-year mortgages hit in February.
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Plug-in car woes: Fisker Delaware plant in doubt
Plug-in car manufacturer Fisker says it may have to look at production sites outside Delaware if it can't get a federal loan. Its new plug-in car, the Atlantic, might be built overseas, the CEO says.
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Wall Street closes out best first quarter in 14 years
Wall Street sees dramatic gains for indexes in first quarter of 2012: Dow climbs 8 percent; S&P rises 12 percent; Nasdaq is up 19 percent.
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Falling commodity prices lower stocks
Falling commodity prices pushed stocks lower Wednesday. The Dow fell 71 points to close at 13126, and all three major indexes lost at least a half percent.
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The New Economy
US corporate tax rates must come downCome April 1, America's corporate tax rates will be the highest in the developed world. That's bad policy for the United States.
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Obama's energy policy takes center stage as $4 gas prices loom
Obama's energy policy will be the subject of the president's three-stop tour starting Wednesday. He wants to deflect criticism that he's not doing enough to fight rising gas prices.
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Stocks rise on Apple dividend
The Dow rose 6 points to close at 13239 on a dividend from Apple, a deal for UPS and the promise of greater demand for U.S. Steel.
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S&P closes above 1400, a four-year high
Stock indexes rise to four-year highs as more good economic news rolls in. Dow rises for seventh day in a row.
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Latin America Monitor
Ferry service to Cuba a 'bridge' too far for US governmentReestablishing ferry services to Cuba for the first time in 50 years would surely present challenges, but is in line with recent US-Cuba policy changes, writes guest blogger Anya Landau French.
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Stocks rise as Greece nears debt swap deal
The Dow gained 70 points to close at 12907 Thursday as Greece closed in on a deal to restructure its debt and avoid a default.
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Keen on slashing the national debt? Ron Paul is your man.
Ron Paul ranks as the one candidate among four whose announced policies would leave America with a lower national debt than it would have under a status quo course, according to a new analysis.
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Tax VOX
Obama's business tax reform: A good startThe president's Framework for Business Reform does a great job in identifying what's wrong with the way businesses are taxed. But the cure for those problems leaves a lot to be desired.
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Tax-cut duel: After Romney, Obama lays out his plan
President Obama unveiled a plan to cut corporate tax rates to 28 percent – almost as much as a Mitt Romney proposal today. Did Obama just remove tax cuts from the GOP campaign arsenal?
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Stocks close lower after flirting with 13000
The Dow lost 27 points to close at 12938 Tuesday as stocks closed lower for the first time in four trading days.
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The Daily Reckoning
U.S. stocks vs. gold prices: Which is the better investment?US stocks are a better place to put your money than gold, according to Warren Buffett. But gold prices are only going up, and gold is a far less risky investment than US stocks.
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Where's my Refund? glitch: When will it be fixed?
A computer glitch has sidelined the 'Where's My Refund' feature on the IRS website. The IRS says the 'vast majority' of refunds are still being processed within the typical time frame.
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How payroll tax gridlock in Congress finally came unstuck
A deal to prolong the payroll tax cut has also paved the way for Congress to extend long-term unemployment benefits and the Medicare 'doc fix' to the end of the year.
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Five budget realities no politician will talk about (not even Ron Paul)
Ron Paul deserves credit for making the boldest proposals of any candidate in the presidential race. The astonishing reality of the federal government’s budget situation, however, is that even his plans might not be enough to keep Uncle Sam out of bankruptcy. While President Obama offers a $3.8 trillion budget that optimistically might cut the federal deficit to $575 billion by 2018, federal data suggest the United States is already broke. The Federal Reserve estimates that the net value of all private assets, including real estate, stocks, bonds, businesses, cash, etc., is $57 trillion. But the Treasury Department estimates the federal government’s net worth is a negative $61 trillion. Here are five budget realities that no candidate wants to acknowledge:
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Stocks endure worst drop of 2012
Stocks fall on worries over roadblock to an agreement on Greece's sovereign debt, marking the first losing week for stocks in 2012. Dow falls 89 points, S&P falls 9 points.
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Clint Eastwood Chrysler Super bowl commercial: Facebook fans respond
If you didn’t see it aired on TV during halftime of the Super bowl Sunday, you’ve likely heard about it by now: The Clint Eastwood Chrysler commercial. Amid all the debate on the ad's perceived political stance, we took this question to our Facebook fans: After watching this video, do you think Chrysler came out with a pro-Obama commercial, or a patriotic commercial? We’ve culled their 127 comments and grouped the best here.
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Solar energy subsidies: sticky wicket for Tea Party recipient?
Solar energy tax credits benefited firms owned by Tea Party Republican running for the US Senate. But Mark Neumann, who decries Obama stimulus plan, got the solar energy credits under President Bush.
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Retirement savings plan: more transparency, more choice?
Retirement savings plan – the 401(k) – would give clearer guidance on fees and offer retirees more options, according to new proposed rules. One proposal would allow part of a retirement savings plan to convert to an annuity.
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Tax VOX
Why expiring tax cuts should actually expireThe charade of annual or biennial debate about perpetually “expiring” tax provisions is terrible tax policy and a symbol of our failure to come to terms with budget reality.
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Strong manufacturing data boosts stocks
Stocks climbed Wednesday after strong manufacturing data and encouraging reports about the Greek debt crisis. The Dow rose 83 points to close at 12716.
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Latin America Monitor
Is Venezuela's military playing role in drug trafficking?President Hugo Chavez's new defense minister has been accused of drug trafficking, suggesting a level of institutional corruption that could surpass Chavez's control and impact neighboring Colombia.
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