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06 Dec 2010 20:20

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Politics: Three things Obama conceded to push through the Bush tax cuts

  • two number of years the Bush tax cuts were extended for everyone – not just the middle class
  • 4.2% the Social Security payroll tax next year – that’s down two full percentage points, BTW
  • 35% the maximum estate tax rate; there will also be an exemption of $5 million per person source
  • » Will Democrats go for it? Maybe not; it seems that many congressional Democrats are upset about the estate tax thing in particular, and the overall deal got a weak reception from Democrats in particular. But the GOP likes it. When was the last time Obama pleased the GOP?
Posted by Ernie Smith • 0 Comments • Permalink

24 Jun 2010 11:14

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U.S.: Financial reform bill is nearing the finish line. WHOO!

  • DERIVATIVES! DERIVATIVES! DERIVATIVES! DERIVATIVES! We’re so pumped to see financial reform finally pass between the House and Senate that “DERIVATIVES!” is kinda like a battle cry for us. Or not. But Christopher Dodd gets his name on the broadest rewrite of financial law since the 1930s, and the deal-brokering has if nothing else, made the bill palatable to some on both sides of the aisle. Congress has given themselves a deadline of today, so some stuff may end up on the cutting-room floor, but it would still be a big victory. Right? Right? DERIVATIVES! source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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