Topic: Warren Buffett
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Six points where Mitt Romney and his economic advisers are mostly wrong
Mitt Romney’s economic plan is largely based on a whitepaper written by several “heavyweight” economists. The problem is, it's riddled with fundamental flaws. Here are six points where Mitt Romney and his economic advisers are mostly wrong about what ails the American economy and how to fix it.
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National Spelling Bee: 10 winning business words
In the National Spelling Bee’s 85-year existence, a wide range of words have crowned the winners – from science words like ‘crustaceology,’ to musical terms such as ‘soubrette,’ and ‘appoggiatura.’ The list of winning words also includes several that could slide right into the pages of this newspaper’s business section. In honor of the 2012 Scripps National Spelling Bee, here are 10 business words from past years that have determined the champion. Will this year’s winning word make the list?
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Briefing
Buffett rule: Five questions about Obama's plan answered
President Obama wants a proposed "Buffett rule" to make sure that millionaires pay at least a 30 percent federal tax rate. Here are five facts that shed light on the Buffett rule and the debate surrounding it.
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The Masters: 12 women candidates for Augusta National membership
The Augusta National Golf Club has steadfastly refused to alter its all-male membership. But circumstances may soon cause the gender barrier to break, and if it does there are several women who might be good fits for the club.
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Academy Awards: Which Best Picture nominee won at the box office?
Nine films will be vying for the Best Picture trophy at the 84th Annual Academy Awards, taking place Sunday at 8 pm. The Best Picture Oscar won’t be announced until late in the evening, but when it comes to the box office, clear winners and losers have already emerged. While there was no runaway blockbuster among this year’s Oscar nominations, the films nominated ran the gamut in terms of profitability: Some made back nearly four times their filming budgets, while others failed to break even. Here’s all nine Best Picture nominees, ranked according to profit margin. Box office numbers are based on worldwide earnings. Can you guess which film was the best bang for its buck?
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Decoder Wire
Taxing the rich: why $250,000 became the benchmarkSome Democrats had sought an income threshold well above $250,000. But since the election campaign and in 'fiscal cliff' talks, that's the number President Obama has settled on. Here's what's behind it.
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Should estate tax rise in a 'fiscal cliff' deal? Why some ultra-rich say yes.
While much of the focus in the 'fiscal cliff' debate has been on income taxes, the group of wealthy Americans says an estate tax 'promotes democracy by slowing the concentration of wealth and power.'
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Opinion: 'Fiscal cliff' or not, tax reform is easier said than done
As part of any deal on the 'fiscal cliff,' Congress will likely take up comprehensive tax reform. That's a worthy goal, but it will involve more political and economic pain than most would like to admit. Every line in the tax code has its own constituency and rationale.
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Why Obama insists on higher tax rates for the wealthy
As the 'fiscal cliff' looms closer, President Obama says higher tax rates for the wealthy – not just revenue from limiting deductions and other sources – is his nonnegotiable demand.
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Decoder Wire
Going over the 'fiscal cliff': why more are sounding ready to take the plungeWith negotiations still appearing stalled, a growing chorus on the left and right has been suggesting that a so-called "cliff dive" wouldn't be so bad. Better than cutting a bad deal, anyway.
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Modern Parenthood
Rolling Stones at 50: A work ethic to raise kids by? (+video)The Rolling Stones hit the stage 50 years ago and this mom loves their work ethic. After all, what can a poor boy do, 'cept sing for a rock 'n' roll band? For 50 years, and counting, she says, that's what they been doing. And they haven't been poor for at least the last 48.
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Six points where Mitt Romney and his economic advisers are mostly wrong
Mitt Romney’s economic plan is largely based on a whitepaper written by several “heavyweight” economists. The problem is, it's riddled with fundamental flaws. Here are six points where Mitt Romney and his economic advisers are mostly wrong about what ails the American economy and how to fix it.
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California's dueling tax hikes: 'Nightmare' ahead?
California Gov. Jerry Brown has asked voters to approve Proposition 30, a tax hike that he says will save the state from fiscal disaster. But another tax plan on the ballot could muddy the waters.
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Mitt Romney's 14 percent tax bite: your guide to deciphering what's 'fair'
Many millionaires pay an effective tax rate much closer to Mitt Romney's 14 percent than to the official 35 percent top bracket. Preferential rates for investment income, including capital gains, are the reason. Is it time to change that?
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Rep. Scott Rigell: Maverick GOP freshman in the eye of a political storm
Obama is hitting Virginia Beach, Va., Thursday for a reason: It's one of the hottest political ad markets in the country. Its congressman, Scott Rigell, is out to change Washington's 'toxic mix of partisanship, no facts, weak ideas.'
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Club for Growth president: Mitt Romney is 'a mixed bag'
Chris Chocola, president of the influential conservative group the Club for Growth, certainly wants Mitt Romney to defeat President Obama. He's just not sure what Romney would do once in office.
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The New Economy
47 percent vs. 1 percent: the emergence of tax-class warfareFrom Mitt Romney's 47 percent gaffe to Warren Buffett's secretary's tax rate, this election is about taxes and who will be saddled with paying back America's huge debt.
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The Reformed Broker
Berkshire Hathaway sells Intel stock, nets $60 millionWarren Buffet's firm deviates from its usual buy-and-hold strategy to sell its Intel stocks a year after buying them, Brown writes.
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The New Economy
Greed is (not) good. Here's a better capitalism.Profit should not be the sole goal of business. Profit should be the byproduct of business excellence.
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Augusta National admits first women – all two of them (+video)
Former Secretary of State Condoleezza Rice and financier Darla Moore are invited to join Augusta National. The 80-year-old golfing club has been under pressure for 10 years to admit women.
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Who creates jobs? How economists see the Obama-Romney debate.
The debate about job creation is becoming one of the central themes of the presidential campaign. The answers aren't simple, many economists say – especially in the current climate of employment malaise.
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The Daily Reckoning
A crisis veiled in public spectacleOver the course of three odd decades, billions of dollars were lent to people who shouldn’t have been allowed to borrow lunch money. And now, there are losses in the trillions. The real question is, will the market finally be allowed to correct itself?
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Happy Friday! JPMorgan launches stock market rally
Showing a vote of confidence in JPMorgan Chase Friday, relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month, to close at 12,777.
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Stocks slide on Wall Street for sixth straight day
US stocks slid for a sixth day Thursday as concern spread that weaker global economic growth will hurt US corporate earnings. The Dow fell as much as 112 points in early trading. It recovered to turn briefly positive before closing with a loss of 31 points, or 0.3 percent, at 12,573.
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Opinion: How to close the budget deficit without raising tax rates
Tax credits and deductions are projected to cost the US Treasury around $1.3 trillion this fiscal year. Meanwhile, the budget deficit is projected at $1.2 trillion. Without all those tax breaks, the deficit would turn into a surplus. Polls suggest Americans may be willing to see them go, too.
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National Spelling Bee: 10 winning business words
In the National Spelling Bee’s 85-year existence, a wide range of words have crowned the winners – from science words like ‘crustaceology,’ to musical terms such as ‘soubrette,’ and ‘appoggiatura.’ The list of winning words also includes several that could slide right into the pages of this newspaper’s business section. In honor of the 2012 Scripps National Spelling Bee, here are 10 business words from past years that have determined the champion. Will this year’s winning word make the list?
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The Circle Bastiat
Huge mortgage debts keep the housing market tumblingExperts have been calling for the bottom of the housing market each year since the crash, and prices continue to tumble. Why? In an overwhelming number of cases, homeowners owe more on their mortgages than their houses are actually worth.
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Decoder Wire
Obama honors Presidential Medal of Freedom winners: Who's eligible? (+video)Answer: Anybody who's accomplished anything the president of the United States likes. Obama awarded the Medal of Freedom to Bob Dylan, John Glenn, and 11 other recipients Tuesday.
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Stocks fall amid discouraging economic reports
The Dow fell 156 points to close at 12442 – the index's 11th loss in 12 days – after a pair of discouraging economic reports unnerved investors already worried about a possible exit from the euro by Greece.
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Obama, Romney both want Reagan mantle
Both candidates have made comparisons with the conservative icon.
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