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9 hours ago ago from Politics in Minnesota
Home > Budget / Taxes , Capitol Report > Deficit fixes: bleak and bleaker Deficit fixes: bleak and bleaker by Charley Shaw Published: December 16,2009 Time posted: 2:52 pm Tags: James Metzen , Larry Pogemiller , Lyndon Carlson , Minnoesta budget deficit Legislative panel examines budget-cutting scenarios No matter which way you slice it, Minnesota's projected long-term budget deficit won't get solved without ...
Related contentKey Budget Changes in the Senate Health Bill
3 hours ago ago from Donald Marron
Majority Leader Harry Reid released his revised health care bill today; the Congressional Budget Office followed shortly thereafter with its cost estimate . Leader Reid has made many changes to his original bill. The one you will hear the most about, just because it is amusing, is that the tax on cosmetic surgery (the ) has been replaced with a tax on indoor tanning services. (I'm not sure of the politics here, but I presume this tax ...
Related contentThe Euro’s Trojan Horse
14 hours ago ago from Sustainability In Business
If you have been following European financial matters at all, you know by now that Greece is in dire straits. It is beset by that trio of trouble that gives finance ministers white hairs by the hundreds: huge public debt (~120% of GDP), huge budget deficit (~13% of GDP for 2009), huge current account deficit (~10% of GDP for 2009). Oh, and its private sector debt went from 38% of GDP to 100% in less than a decade, mostly because households ...
Related contentAP, Ohio Media, Gov. Strickland and Dems Call Double-Digit Retroactive Tax Increase a 'Tax Cut Delay'
8 hours ago ago from NewsBusters.org - Exposing Liberal Media Bias
On January 1, 2009, the final 4.2% stage of a four-year, 21% cut in individual income taxes took effect in Ohio. State tax withholding tables reflecting the lower rates went into effect. Ohio employees began seeing a bit more net pay in each paycheck. This past week, the state legislature, faced with an $850 million shortfall and threats of immediate school funding cuts by Governor Ted Strickland, repealed that 4.2% cut for both 2009 and ...
Related contentWant To Make Matters Worse?
17 hours ago ago from From On High
We are at a point in time when tax increases would crush any opportunity for a turnaround in the Obama economy here in Virginia. Yet Tim Kaine - Democrat - suggests just that - a massive tax increase - in the budget proposal he just sent to the legislature. He's leaving soon, right? Here's Lt. Governor Bill Bolling's response (from a press release) that I think is spot on: “In his budget the Governor has proposed spending reductions in ...
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Budget office: Democrats' bill covers 94 percent
5 hours ago ago from U.S. News
Budget office: Democrats' bill covers 94 percent WASHINGTON (AP) -- Congressional budget scorekeepers say the latest Democratic health care bill would cover 94 percent of eligible Americans while reducing the federal deficit. The Congressional Budget Office said Saturday the changes announced by Senate Majority Leader Harry Reid would cut the deficit by an additional $2 billion, bringing the 10-year total reduction to $132 billion. The ...
Related contentZero inflation impacts tax rates, government benefits and tax breaks
10 hours ago ago from Washington Post - Business
Tax rates, government benefits and tax breaks designed to keep pace with inflation through annual cost-of-living adjustments and indexing won't budge in 2010. You won't earn much on your savings, either. Welcome to the year of the un-COLA. -- No payroll tax boost. High-income workers, rejoice: The maximum amount of wages subject to Social Security taxes will remain at $106,800, the first time the index hasn't changed since 1971. The tax ...
Related contentFederal estate tax remains in flux
18 hours ago ago from Washington Post - Politics
The federal estate tax is on course to be repealed for one year beginning in January, allowing heirs of large inheritances to temporarily escape the so-called death tax although a little-noted provision in the law would expose many smaller estates to higher tax liabilities. Senate Republicans blocked a Democratic attempt to temporarily extend the estate tax earlier this week, meaning that barring any unforeseen action the levy will ...
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