A new article in Bloomberg talks about the biggest banks getting $1.2 trillion in help: Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits. […]
The blindness of the right is mindboggling at times. Over at Hot Air, Ed Morrissey has a post up entitled “Taxpayers to Obama: Keep your hands off our deductions”. Here’s what Ed says: In his speech on Wednesday, Barack Obama suggested that eliminating some tax deductions might be necessary to close the budget deficit, at […]
Sill think they care about all Americans? Republican lawmakers, facing the prospect that their power to cut taxes may soon be curbed, plan to extend breaks that mostly benefit the wealthy and Wall Street at the expense of reductions for middle-income households. Six months before elections that may return a Democratic majority in at least […]
This is the framing for an interesting battle Key White House tax proposals would cost the U.S. government tens of billions of dollars in lost revenue, the Treasury Department said on Monday, although the administration says they will help boost revenues in the long run. Making permanent expiring tax breaks for dividends and capital gains, […]