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Democrats and Obama: No Wonder He's Torn
By Robert and Donna Trussell - Politics DailyFollow the Trussell cartoons on Twitter at ChaosTheoryPD ...
Obama: Not Caving to GOP on Bush Tax Cuts
By not in system - AOL News
(Nov. 12) -- President Obama on Friday dialed back a top aide's assertion that he was ready to accede to Republican demands that Bush-era tax cuts to be extended to all Americans, including the wealthy. Obama said his "number one" priority remains preserving the tax relief for the middle class -- that is, families earning less than $250,000 annually. At a news conference in Seoul, South Korea, the president said a Huffington Post article quoting top adviser David Axelrod as saying the White House would accept across-the-board extension of the income tax reductions from 2001 and 2003 was ...
Forbes 400 Breakdown: America's Richest Reside in Calif., Still Mostly Male
By Steven Hoffer - AOL News(Sept. 23) -- A billi? That's right, a cool billion dollars was the minimum amount for securing a spot on this year's Forbes 400 list of the wealthiest Americans (which unfortunately did not include the originator of the phrase "billi," rapper Jay-Z, although he did get the coveted spot on the magazine's cover, alongside Berkshire Hathaway CEO Warren Buffett). Microsoft co-founder Bill Gates -- who along with 40 other billionaires has pledged to donate a significant portion of his fortune to charity via The Giving Pledge -- topped the annual list with a net worth of $54 billion. Buffett, who ...
Opinion: It's Time to Bring Back the Estate Tax
By Paul Wachter - AOL News(Sept. 3) -- The Koch brothers, David and Charles, owners of the second-biggest private company in America, have been the subject of two recent lengthy profiles in The New Yorker and New York magazines for their bankrolling of conservative movements, including the tea party. But the Kochs' politics are more libertarian than Republican and, speculates Chris Douglas at FrumForum, are driven by one great bugaboo: the estate tax. Until the George W. Bush administration, the estate tax -- what conservatives often call the "death tax" -- was 55 percent. President Bush changed that to zero. But as ...
Democrats May Keep Bush Tax Cuts for Rich
By Paul Wachter - AOL News(Sept. 2) -- While Democrats may complain about the tyranny of the filibuster and lack of majority rule in our congressional system, when it comes to preserving the Bush tax cuts for the rich, it's likely to be their own party members who are responsible. President Barack Obama has indicated that he'd like to see the cuts remain in place for Americans who earn less than $250,000 a year but see those who earn more taxed at the pre-2001 rates. "However, a small but growing number of moderate Democrats are balking at boosting taxes on the rich," reports McClatchy Newspapers. McClatchy ...
John Kerry Is Richest as Lawmakers Grow Wealth in Recession, Newspaper Says
By Politics Daily Staff - Politics DailyEven in a bad economy it seems the rich get richer -- at least that was the case on Capitol Hill in 2009. The Hill newspaper, which annually reviews lawmakers' financial disclosure forms to compile its "wealthiest" list, said the top 50 richest members of Congress were worth nearly $1.4 billion last year -- $85.1 million more than the holdings of the elite group a year earlier. The richest? That would be Sen. John Kerry, (D-Mass.), who tops the list for the second year with a minimum net worth of $186.6 million, a boost of about $20 million from 2008, with much of it credited to his wife, ...
Matt Lewis on Fox News: Sestak 'Job' Offer, Hillary Clinton on Taxing the Rich
By Colin McDonald - Politics DailyPolitics Daily contributor Matt Lewis appeared on "Fox and Friends" on Saturday to discuss the controversy over offers made to Joe Sestak to leave the Pennsylvania Senate race and Hillary Clinton's recent comments supporting taxes for the wealthy. Click play below to watch the two segments: ...
Congress Is Teeming With Millionaires
By David Knowles - AOL News(Nov. 6) -- Apparently, times aren't so tough all over. According to a new study compiled by the Center for Responsive Politics, 237 members of the U.S. Congress, or 44 percent, are millionaires. "What's easy to see is that the economic reality of our elected officials is not reflective of the general population," said Dave Levinthal, who helped compile the study's findings. Nationwide, only 1 percent of U.S. citizens qualify as millionaires. Chip Somodevilla, Getty Images An inquiry into financial data reveals that 44 percent of the U.S. Congress are millionaires. Among the ...
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