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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The Monitor's View: Who forced a 'fiscal cliff' deal? Try foreign investors.
Washington is now all too aware that foreign creditors and investors will punish it for any macroeconomic mismanagement. American competitiveness was at stake in the fiscal cliff negotiations.
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Opinion: In fighting gangs, US should look to El Salvador
In combating the MS-13 gang, the Obama administration should look to El Salvador, which has adopted a far less confrontational approach, and is seeing a drop in gang violence as a result. A negotiated 'truce' with gangs is possible in the US and Mexico.
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General Motors to buy back US-owned stake. US to lose billions?
General Motors stake owned by the US treasury will be sold over the coming year, assuring a multibillion-dollar loss for the federal government. General Motors will buy back $5.5 billion in shares, and the Treasury will have to sell the rest of the stock at a high price in order to break even on the $50 billion bailout GM received.
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Stocks sink as budget deadline nears
Stocks closed down on Wall Street as a year-end deadline nears with no deal in hand to cut the US government's budget deficit. Telecommunications stocks and health care stocks fared the worst.
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Opinion: 'Fiscal cliff' cuts to job training for young people would cost taxpayers dearly
Because of the 'fiscal cliff' John Boehner and other lawmakers are looking to cut spending. But failing to prioritize successful programs in education and job training for young people would cost taxpayers more in the long-run. America should be expanding, not defunding, those investments.
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Stocks gain on budget talk optimism, Fed stimulus
Stocks rose Tuesday in light of progress in budget talks being held in Washington. Stocks have edged up since the start of the month as investors watch for developments in the budget talks.
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US draws line in Syria: aligns with moderate rebels, labels others terrorists
On the verge of formally recognizing a rebel coalition as representing the Syrian people, the US designated the al-Nusra Front as a terrorist organization that is an arm of Al Qaeda in Iraq.
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Obamacare fee to offset costs of pre-existing conditions
Obamacare fee may come as somewhat of a surprise to companies and employees as part of the President's health-care overhaul legislation. The Obamacare fee will take effect in 2014.
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HSBC to pay record $1.9 billion to settle money laundering case (+video)
HSBC avoided a damaging legal battle Tuesday by agreeing to pay $1.9 billion to settle a US money laundering probe. The HSBC settlement will be the biggest penalty ever imposed on a bank.
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Decoder Wire
Debt ceiling debate twist: Sen. Mitch McConnell filibusters himselfYes, another debt-ceiling debate is looming, and the Senate's attempt to deal with the issue Thursday involved complex legislative machinations that appeared to backfire on Mitch McConnell.
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Could China overtake US as global trader?
A special report by the Associated Press examines China's influence with its trading partners over three decades, and how business, politics, and daily life are changing with China's rise as a global player.
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Who will be new face of the GOP?
Mitt Romney's loss and withdraw from politics has created a leadership vacuum in the Republican Party. From Gov. Chris Christie, to Sen. Marco Rubio, to Gov. Bobby Jindal, there's no shortage of hopefuls to fill Romney's shoes.
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Why Obama is pushing for stimulus in 'fiscal cliff' deal (+video)
President Obama's opening offer in 'fiscal cliff' talks includes $255 billion in stimulus spending – tax cuts, incentives, and more. It could be a bargaining ploy or a bid to offset rising taxes on the rich.
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Stefan Karlsson
Would a one-dollar coin save Americans money?Karlsson explores the economics of switching from a one-dollar note to a one-dollar coin. From a Swedish perspective, Karlsson writes, changing to a coin would seem natural.
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Why one of China's richest men is squaring off against Obama in court
Wu Jialiang, CEO of Ralls Corp. is challenging Obama's refusal on national security grounds to let him build a wind farm in America, marking the first such high level case in the US from a Chinese firm.
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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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Stocks end lower after strong week
Stocks retreated after one of their best weeks of the year. Anxiety over the 'fiscal cliff' and European debt drove stocks down.
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Cover Story
Five reasons America won't fall off the 'fiscal cliff'The political and economic ramifications are too big for Washington to let the large tax increases and spending cuts take effect. But this doesn't necessarily mean lawmakers will craft a decisive solution to the nation's fiscal woes.
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Stocks end flat after HP shocker, Fed warning
Dow drops less than 8 points despite Bernanke warming of 'fiscal cliff' dangers and HP disclosure that it will have to take an $8.8 billion charge for accounting 'improprieties' at a company it acquired last year.
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Are fiscal cliff doomsayers overreacting?
While many bemoan the possibility of the America's topple over the fiscal cliff, some major investors say even if Congress doesn't reach a deal by the end of the year, the economic outlook may not be as bad as it seems.
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Decoder Wire
Might an idea from Mitt Romney save US from 'fiscal cliff'? (+video)Mitt Romney has suggested putting a cap on income-tax deductions. Would the GOP back it? That's uncertain, but it would generate a lot of money and hit only the wealthiest Americans.
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Dow loses 313 in post-election sell-off
Stocks plummeted during Wall Street's first day of trading after President Obama's reelection. Stocks also spiraled downward in the days after Obama's first victory.
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Stocks rise as investors wait for a winner
Stocks climbed Tuesday as investors remained 'on pins and needles' for the results of the US presidential election. A jump in crude prices helped lift stocks in petroleum refiners.
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Stocks edge higher, breaking a weeklong slump
Stocks eked out the week's second day of gains Thursday after flipping between gains and losses for most of the day. A strong report from Procter & Gamble boosted stocks early in the day.
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US and Iran: Could Romney be tougher than Obama? Unlikely.
Short of conducting a unilateral military strike or declaring war against the Islamic Republic, a Romney administration would be faced with the same legislative options on Iran as President Obama, who has already administered them.
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