FROM Richard Rubin
Tax Day - Who Pays What? Yes, it’s April 15th … tax day! Are the rich paying more or less than their fair share? Now there’s a new report by Congress’ Joint Committee on Taxation. It takes a broad look at ALL the taxes we pay -- not just federal income tax -- to see what Americans’ true tax load really looks like.
E-filing Technology Increasing Tax Return Fraud With April 15 looming, tax-filing software makes paying the US Treasury more convenient — but it's also created a new industry for financial fraud. The IRS says it distributed $5.2 billion in fake tax refunds in 2013 alone. Richard Rubin reports on tax policy for Bloomberg News .
Obama Unveils Trillion Dollar Budget President Obama today unveiled a $4 trillion budget that lifts caps on defense spending and expands services for the middle class. It’s designed to challenge the Republican majorities in Congress. Richard Rubin covers taxes and budgets for Bloomberg News.
Can Corporations Be Patriots? Congress adjourned for the summer with tax reform still caught in political gridlock. Since then, President Obama has seized on a tax proposal once buried in his budget to attack a practice multi-national companies use to avoid paying taxes in the US; it’s called “corporate inversion.”
Bailout Bill Goes to the White House Congress reconsidered what's now called the "economic rescue" plan amid dismal news about employment and California's need for a big federal loan. Today the bailout passed by 263 to 171. Saying that passage of the bill won't get us out of the recession, Republican leader John Boehner admitted that "it'll be a whole lot rougher ride if we don't pass this bill." Democrat Nancy Pelosi, the House Speaker, acknowledged that in "my own state of California, officials -- including the governor -- are urgently calling for federal legislation to avoid economic catastrophe." Will the bill resolve the credit crisis? Will taxpayers make money on a $700 billion investment? We ask those questions today.
Will the Senate write a healthcare bill in secret? While Democrats and Republicans argue White House relations with Russia, another question is being decided behind closed doors: who gets help buying health insurance and who doesn't? We hear how the pros and cons are being shrouded in secrecy.
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?
Should we 'hack the climate' to fight global warming? The Paris Agreements won't be enough to reverse global warming, whether President Trump pulls the US out or not. Is it time to try altering the atmosphere by what's called "geoengineering?" We hear about unintended consequences, international relations… and ethics.
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.