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Breaking News Forum Boehner backs tax cuts limited to middle class at News Forum - AP - House Republican leader John Boehner says he would support extending tax cuts only for middle-class earners even though ...

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Old 09-12-2010, 02:37 PM   #1
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Default Boehner backs tax cuts limited to middle class

AP - House Republican leader John Boehner says he would support extending tax cuts only for middle-class earners even though he considers it "bad policy" to exclude the highest-earning Americans from tax relief during a recession.




Boehner backs tax cuts limited to middle class
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Old 10-17-2010, 05:21 PM   #2
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Rich folks swimmin' inna money again...

Wall Street gets into the thick of earnings season
October 17, 2010 -- After obsessing over Federal Reserve policy last week, investors are now turning their attention to the tsunami of corporate earnings reports.
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Seven blue-chip Dow stocks are scheduled to release third-quarter results this week: IBM, Bank of America, Johnson & Johnson, Caterpillar, McDonald's, American Express and Verizon. As if that weren't enough, the big banks are on tap too: Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo. The financial sector led the market lower late last week as investors worried about the fallout from investigations into the foreclosure practices of many banks and mortgage servicers.

But wait, don't forget the techs. Results are also due from Apple, the darling of the tech sector, and Yahoo, which has been the subject of takeover talk recently. "Earnings will be the dominant theme," said Alec Young, equity strategist at Standard & Poor's. "Economic data is always important, but earnings are going to set the tone."

While it's relatively early in the third-quarter reporting period, results have generally come in better than expected. Of the S&P 500 companies that have posted results, 83% have beat analyst estimates, according to Thomson Reuters. Overall, analysts expect third-quarter earnings to be up 24% from a year earlier, and they expect revenue to rise 7%. Stocks had been climbing steadily since late August, when Federal Reserve chairman Ben Bernanke signaled that the central bank is prepared to use "unconventional measures" to aid the economy.

Since then, there has been growing speculation that the Fed will announce plans to resume large-scale purchases of U.S. Treasurys, a policy called quantitative easing, when it meets next month. The Fed has bought billions worth of U.S. bonds during the past two years to push down interest rates and get money into the economy.

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New option: Don't tax the rich. Tax the really rich
October 13, 2010: Democratic Sens. Chris Dodd and Blanche Lincoln have suggested the Bush tax cuts should be extended for those making more than $250,000.
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President Obama has drawn a line on the Bush tax cuts: $250,000. Whether he can hold it is another story: A growing number of voices in his own party are calling for greater flexibility. The tax cuts expire on Dec. 31, and Congress will take them up in a lame-duck session after the Nov. 2 elections.

Obama has said repeatedly that he wants to make the cuts permanent for households making below $250,000 and individuals making less than $200,000. He favors letting them expire permanently for anyone making above those amounts, arguing the economic recovery won't be harmed by a tax increase on the wealthiest.

But many Democrats -- in both the House and Senate -- worry that it might and are suggesting a higher income threshold. Most recently, Senate Banking Chairman Chris Dodd, who is retiring, told CNNMoney that he would like to see the cuts extended for households making below $500,000.

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Old 04-27-2013, 01:43 AM   #3
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What the middle class is worried about...

Poll: US Middle Class Worried About Money, Leadership
April 25, 2013 - A new opinion poll shows middle-class Americans are deeply worried about finances, critical of political and business leaders, and frustrated by the high cost of college.
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Thursday's report from the Heartland Monitor Poll says nearly half of Americans consider themselves middle class, which they define as having financial security and holding a steady job. But a majority of respondents say they are worried a serious medical problem or job loss could push them out of the middle class. Speaking at a seminar on middle class concerns, the head of the Northern Virginia Community College said the key to a secure job with a middle class salary is higher educaiton.

But Robert Templin also said millions of U.S. jobs are going unfilled at a time of high unemployment because too few people have the math, science, and computer skills employers need. According to Templin, by 2018 more than six out of 10 jobs will require post-secondary education. He added the United States is cutting investments in higher education just as the need for it is growing. "America is disinvesting in higher education, pushing the financial burden for college-going from taxpayers to individuals. Higher education now is not seen as a public benefit; it is seen as a private good," he said. "And we expect families to pay the bill themselves."

Reduced education aid is particularly hard on minority groups who need education to overcome the effects of poverty and language barriers, Templin said. The poll was conducted on behalf of the National Journal magazine and the Allstate insurance company. The data comes from a phone survey of 1,000 adults and has a margin of error just more than three percent.

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