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Obama Says He Wants Oil Producers to Boost Output
By not in system - AOL NewsWASHINGTON -- As the high cost of gasoline takes a toll on politics and pocket books, President Barack Obama said Tuesday he is calling on major oil producers such as Saudi Arabia to increase their oil supplies to help stabilize prices, warning starkly that lack of relief would harm the global economy. "We are in a lot of conversations with the major oil producers like Saudi Arabia to let them know that it's not going to be good for them if our economy is hobbled because of high oil prices," Obama told a Detroit TV station. Joe Raedle, Getty Images President Obama is calling on an ...
Obama's Pulpit Is Bully, but GOP Keeps Charging
By not in system - AOL NewsWASHINGTON -- Running for re-election, President Barack Obama is employing powers not available to his Republican challengers. Just this week he's holding town halls in three states, arriving in grand style on Air Force One and granting coveted interviews to local TV news anchors. He doesn't have the field entirely to himself and his poll numbers are sagging a bit as he feuds with Republicans over spending and deficit cutting. With Congress in recess, dozens of GOP lawmakers are holding their own events to tell constituents why they believe they have a better plan for cutting spending and ...
White House Releases Tax Returns for Obamas, Bidens
By not in system - AOL NewsWASHINGTON -- President Barack Obama is making less money than he used to, though it's still a lot: He and wife Michelle reported income of $1.73 million last year, mostly from the books he's written, according to his just-filed tax return. That was down from the $5.5 million of a year earlier. The president, who has been campaigning to raise taxes on the wealthy, paid the government $453,770 in federal taxes, about a quarter of the income. Just last week, he renewed his push to end Bush-era tax cuts for households with annual incomes above $250,000 -- noting that that would include him. The ...
Rich Paying Less Income Tax, Half of Households Pay None
By not in system - AOL NewsWASHINGTON - Still scrambling to file your taxes? You'll probably take little consolation in hearing that the super rich pay a lot less taxes than they did a couple of decades ago. And nearly half of U.S. households pay no income taxes at all. The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992. Over the same period, the average federal income tax rate for ...
The Week in Weird (Penis Museum Edition)
By Tony Deconinck - AOL NewsWelcome to our weekly roundup of the strangest, weirdest and most exquisitely bizarre news items of the last seven days. After scouring hundreds of oddities, we found a few that really rise to the top -- or sink to the bottom, as the case may be. With the exception of a story about dogs with fake IDs, all the rest of the stories seem to be sexual things, from kinky taxes to one man who donated his penis to a museum, and another who was less humanitarian with his own (to the dismay of his female patients). So enjoy the stories and we'll have even more for you next week. Behold the power of ...
One Tax Preparer Doubles as a Sex Worker, The Other Does Psychic Readings
By David Moye - AOL NewsMost of Lydia Tinker's customers come to her because she does a great tax return, but some come back because they want a psychic reading. For the past 35 years, Tinker, a licensed tax preparer in La Mesa, Calif., has offered psychic readings from the spirit world to her customers, many of whom would simply be happy with a big refund check. "Numbers speak to me," Tinker, 64, told AOL News. "I look at a birth date or a Social Security number and information comes to me about a person connected with the client. I'm cautious about who I tell this to, but sometimes I just have to reveal it. ...
In Budget Plan, Obama Seeks Cuts and Higher Taxes
By not in system - AOL NewsWASHINGTON -- Forcefully rejecting Republican budget-cutting plans, President Barack Obama on Wednesday proposed lowering the nation's future deficits by $4 trillion over a dozen years and vowed he would not allow benefit cuts for the poor and the elderly to pay for tax breaks for the rich. "That's not right and it's not going to happen as long as I'm president," Obama declared. While the president recommended trimming health care costs in Medicare and Medicaid, he also called for cuts in defense, an overhaul of the tax system to eliminate many loopholes enjoyed by individuals and ...
House Republicans Vehemently Oppose Tax Increases
By not in system - AOL NewsWASHINGTON -- Leading congressional Republicans renewed their vehement opposition to tax increases Wednesday, as President Barack Obama prepared to put forth his new prescription for slow growth and national indebtedness. "Most people understand that Washington doesn't have a revenue problem, it has a spending problem," said House Majority Leader Eric Cantor, R-Va. "We can't raise taxes. ... That was settled last November during the elections." Joining Cantor in appearing on morning network news programs, Rep. Paul Ryan of Wisconsin, Republican chairman of the House Ways and Means Committee, ...
Obama First to Put Tax Hikes on Budget Table
By not in system - AOL NewsWASHINGTON - Higher taxes have been missing from the fierce budget battle that nearly shut down the federal government. But President Barack Obama is about to put them on the table - at least a modest version that he had pushed before and then rested on the shelf. Most economists and budget analysts say a comprehensive mix of spending cuts and tax increases is essential to any viable deficit-reduction plan. Yet few players in the negotiations have gone there. It comes in the scramble to heed what is widely viewed as a loud clamor from voters to slam the brakes on runway government spending. ...
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