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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 ...
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. ...
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. ...
IRS Awards $4.5M to Whistleblower
By not in system - AOL NewsPHILADELPHIA -- An accountant who tipped off the IRS that his employer was skimping on taxes has received $4.5 million in the first IRS whistleblower award. The accountant's tip netted the IRS $20 million in taxes and interest from the errant financial-services firm. The award represents a 22 percent cut of the taxes recovered. The program, designed to encourage tips in large-scale cases, mandates awards of 15 to 30 percent of the amount recouped. "It ought to encourage a lot of other people to squeal," Sen. Charles Grassley told The Associated Press. The Iowa Republican helped get the IRS ...
Union Rights Fight Looms in Wis. High Court Race
By not in system - AOL NewsMADISON, Wis. -- A Wisconsin Supreme Court election that offered the public its first formal opportunity to weigh in on the national fight over union rights was very close in the early going Tuesday. Initial returns showed incumbent Justice David Prosser locked in in a virtual dead heat with challenger JoAnne Kloppenburg in a race that Democrats have tried to turn into a referendum on Republican Gov. Scott Walker's contentious new union rights law. Kloppenburg's campaign has surged in recent days as her supporters worked to focus anger over the new union law onto the conservative-leaning ...
Ohio Governor Signs Collective Bargaining Limits
By not in system - AOL NewsCLEVELAND -- Gov. John Kasich on Thursday signed into law a limit on the collective bargaining rights of 350,000 public workers, defying Democrats and other opponents of the measure who have promised to push for repeal. His signature came a day after the measure was approved by the state House and Senate, which are led by his fellow Republicans. The measure prompted weeks of pro-labor protests by thousands of people amid a national debate over union rights, keyed by a similar bill passed in Wisconsin and signed by the governor there. The Ohio bill prevents unions from negotiating wages but ...
Ohio House OKs Collective Bargaining Limits
By not in system - AOL NewsCOLUMBUS, Ohio -- The Republican-led Ohio House voted Wednesday to severely limit the collective bargaining rights of 350,000 public workers across the state, sending a bill that's sparked pro-labor protests for weeks back to the state Senate. The full House approved the measure on a 53-44 vote. A vote in the GOP-controlled Senate, which narrowly approved an earlier version of the legislation, could soon follow. The measure affects safety workers, teachers, nurses and a host of other government personnel. It allows unions to negotiate wages but not health care, sick time, or pension ...
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