taxes

Tax breaks for the wealthy, corporate jet owners, hedge fund managers and oil and gas companies should be scrapped to help reduce the deficit, President Barack Obama said Wednesday. Republicans are insisting that tax increases stay off the table in ongoing talks to get a deal to raise the debt ceiling. But at a news conference Obama said revenue has to be in the mix. [MarketWatch]

Do you love cats? Do you love every kind of cat? Do you want a house full of them? Do you want a house full of so many that it’s starting to cost you a pretty penny but the idea of not having the cats to roll around with is too much to bear? Help is on the way. Read more »

“We’re in a situation that’s serious enough that almost everyone in society is going to have to give something up. No one is going to like it- it’s going to be like medicine in the old days, that just tasted really bad, but if you didn’t take your medicine, you weren’t going to get healthy…Everyone in this society is going to end up bearing some burden except the very poor who need to be protected. But I think this is a widespread issue where everyone is going to be giving something up, and if you don’t, you’re not going to be able to solve the problems we have. Nine percent of GDP is over $1 trillion per year- that is piling up. It is not really as much of an abstract concept. The more we do this, eventually we reach a point where the country has great difficulty preserving the livelihoods for people as they know it. It is really an issue that must be addressed.” Read more »

  • 13 Apr 2011 at 10:51 AM

GE: Don’t Be Fooled By Reports We’re Paying Taxes

General Electric Co. refuted a statement claiming the company would return a “$3.2 billion tax refund” for 2010, following criticism of its tax rates and policies. “It is a hoax,” said Anne Eisele, a GE spokeswoman. The statement, which purported to be from GE Communications, claimed the Fairfield, Connecticut-based company was responding to a “public outcry” and would “allow the public to decide how to spend” the returned money. [Bloomberg]

  • 31 Mar 2011 at 2:57 PM

Mohamed El-Erian: Bring On The Taxes

According to the PIMCO CEO: “Bill [Gross] and I–we do not consider ourselves elite. In fact, we’d like to be taxed more. I said this even before the Middle East started: It is not in the interest of any society for income inequality to keep on going up. It is in everybody’s interest to avoid the extremes.” Read more »

  • 30 Mar 2011 at 9:22 AM

SAC Capital: Nobody Frontruns Steve!

(And those who do will pay…a charity of their choosing.) Read more »

As you may have heard, Donald Trump has announced he’s thinking about running for President of the United States. Item number one on his agenda, should he be elected? Dealing with this China business. According to the Don, “nobody, other than OPEC, is riping off the United States like China,” and he’s had it. “They’re making all our products, they’re taking all our jobs and then they loan the money back and we pay them interest. It’s an amazing phenomena.” Should there be any confusion, Trump, who knows China better than anyone because he buys curtains from them, would like everyone to get it through their heads that “China is an abuser. China is not our friend.” How do we stop the cycle of abuse? Don’s glad you asked. First off, we stop playing Mr. Nice Guy and we start playing hard ball. And what will send a message we’re playing the hardest of ball? Taxing their stuff at 25 percent and taking away those fancy dinners you know they love so much. Read more »