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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 ...
Women's History Month: A Brief History of the Celebration of Female Contributions
By Torie Bosch - AOL NewsAs Black History Month comes to a close, Women's History Month begins. Women's History Month is a relatively new invention, dating back to the 1970s, when women were fighting for greater recognition of female accomplishments. (Also at that time, the Equal Rights Amendment debate was in full swing.) According to the National Women's History Project, the idea for a month dedicated to women's history sprouted in 1978. That year, the Education Task Force of the Sonoma County (California) Commission on the Status of Women declared the week of March 8 "Women's History Week," selecting March 8 ...
Utah Poll Suggests Orrin Hatch Might Be Vulnerable to Tea Party-Type Challenge
By Bruce Drake - Politics DailyLike Indiana's Richard Lugar, Sen. Orrin Hatch has been mentioned among long-serving Republicans who may meet the fate of Hatch's former Utah colleague Robert Bennett. Bennett lost his seat when conservative and tea party movement activists denied him the GOP nomination in 2008. The 76-year-old Hatch, who will be seeking his sixth term next year, has shown he's mindful of the threat by going out of his way lately to court those activists, inviting himself to a Tea Party Express townhall meeting last week. Some on the right consider Hatch too much of a centrist, and like Bennett, he has been ...
Obama in Budget Preview: Will 'Freeze' Some Domestic Spending for Five Years
By Tom Diemer - Politics DailyPresident Obama said Saturday he is about to follow through on a promise to freeze some government spending for five years -- "even on programs I care deeply about" -- in an effort to restrain a budget deficit likely to hit $1.5 trillion in 2011. Obama, in his weekly address, likened the federal government's predicament to that of a hard-hit American family. And he offered as an example a Missouri couple, short on money because the husband was forced into early retirement when an auto plant closed. Still, David and Brenda Breece scrimp and save, he said, and find money to send their ...
Arnold Schwarzenegger Seeks Return to Hollywood
By Carla Baranauckas - Politics DailyWe all know the catchphrase that has been associated with Arnold Schwarzenegger since he starred in the 1984 movie "The Terminator." He even committed it to concrete at Grauman's Chinese Theater in Hollywood when his handprints and footprints were enshrined there as a major star of major motion pictures. Now those words may apply to him again. Schwarzenegger may return to the big screen. With the exception of some cameo roles like the one in the 2010 movie "The Expendables," Schwarzenegger has not had parts in any movies since he was elected governor of California in October 2003. In recent ...
Not on Tea Party Guest List? Orrin Hatch Invites Himself to Townhall Meeting
By Tom Diemer - Politics DailySen. Orrin Hatch isn't going to miss this party. Hatch, who is two years from facing reelection, says he plans to attend a Tea Party Express townhall meeting in Washington Tuesday night, even though he's not listed as a participant in an official announcement of the event. Tea Party Express head Amy Kremer told CNN that Hatch (R-Utah) had apparently "invited himself." That's all right, she said, and "obviously Senator Hatch wants to get reelected." But, she warned, "he needs to be ready to answer the tough questions." Hatch's one-time colleague, former Sen. Robert Bennett, was ousted by tea ...
Will Tea Party Target Veteran Sens. Orrin Hatch and Dick Lugar in 2012?
By Tom Diemer - Politics DailyDoes the tea party movement have senior Republican Sens. Orrin Hatch and Dick Lugar in its crosshairs? A conservative-leaning Washington tabloid says Hatch and Lugar -- both veterans of 3˝ decades on Capitol Hill -- should be worried heading into the 2012 election cycle. Possible threats to the two senior Republicans are taken seriously enough that the moderate GOP Ripon Society distributed a recent article about their respective situations to reporters. The tea party brought down Utah's junior senator, Bob Bennett, earlier this year, Washington Examiner political columnist Timothy P. Carney ...
Parties Nearing Deal on Tax Cuts, Jobless Benefits
By not in system - AOL News
WASHINGTON (Dec. 6) -- An outline of a bipartisan economic package is emerging that would temporarily extend the Bush-era tax rates for all taxpayers, while extending jobless benefits for millions of Americans. Differences remained over details, including White House demands for middle- and low-income tax credits. But Republicans and Democrats appeared to come together Sunday, raising the possibility of a deal in Congress by the end of the week. Some Democrats continued to object to extending current tax rates for high earners. But without action, lawmakers face the prospect of delivering a ...
Republicans, Democrats Indicate Deal Likely on Tax Cuts, Unemployment Benefits
By Bruce Drake - Politics DailyRepublican and Democratic lawmakers continued on Sunday to cautiously dance around what has emerged as the outlines of a deal on extending the Bush-era tax cuts. But their remarks appeared to signal that both sides were likely to reach a compromise that kept the tax cuts for all, including the wealthy, but not on a permanent basis, as well as extending unemployment benefits. Coming a day after Senate Republicans blocked Democratic efforts to permanently extend the tax cuts for all but high-income earners, Senate Minority Leader Mitch McConnell predicted on NBC's "Meet the Press" that "we're ...
Right for America or Wrong for Illegals? DREAM Act Takes Center Stage
By Jill Lawrence - Politics DailyThe most ardent proponents of the DREAM Act know their chances of victory in the next few weeks are slim, but they also know that failure is pretty much inevitable if they wait until next year. Thus we are in the midst of a full-court press on yet another cause that once had substantial bipartisan support, but may not any longer. DREAM, expected to come up for a vote in the year-end lame-duck session of Congress, is catchy shorthand for Development, Relief and Education for Alien Minors. Translation: The act would offer a path to citizenship – and economic prosperity -- for undocumented ...
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