Political economy News

Political economy News From AOL News

Senators Concede Feeling Pressure on Deficit Issue

WASHINGTON - The Democratic chairman of the Senate Budget Committee says if members of a Senate deficit group fail to come to grips soon with the deficit problem, "we won't be relevant to this discussion." But North Dakota's Kent Conrad declined in an appearance on NBC's "Meet the Press" to say specifically where the...

Obama: 'Change Turned Out to Be a Lot Tougher Than Expected'

SAN FRANCISCO -- President Barack Obama told supporters on Thursday he is pressing ahead with his agenda in a difficult political environment in Washington and that "change turned out to be a lot tougher than expected." Obama addressed about 200 people who paid up to $35,800 apiece for the fundraiser at a San Francisco...

Obama Calls GOP Medicare, Spending Plan 'Radical'

PALO ALTO, Calif. -- President Barack Obama declared Wednesday that congressional Republicans are pushing a radical plan to trim Medicare and Medicaid, ramping up the rhetoric before a friendly Facebook crowd at the headquarters of the popular social networking site. Still, as Obama and Congress approach crucial decisions...

Obama's Pulpit Is Bully, but GOP Keeps Charging

WASHINGTON -- 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...

Rich Paying Less Income Tax, Half of Households Pay None

WASHINGTON - 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...

Political economy News From AOL

THE HUFFINGTON POST

Charles Knight: Making Defense Sense With Budget Cuts

After the U.S. economy slid into the Great Recession in 2008, the federal government's deficit spending and the national debt grew rapidly.

THE HUFFINGTON POST - BUSINESS

Stephen Herrington: It Was the Economy in 1992; in 2012 It's Survival

If you are poor, survival is a day to day issue, only now it's tougher than anyone can remember who's not 90-years-old.

THE HUFFINGTON POST

Illinois Legislators Vote To Double Cigarette Tax

The Illinois Senate voted 31-27 Tuesday in favor of raising the state tax on cigarettes by $1, from 98 cents to $1.98 per pack.

THE HUFFINGTON POST - BUSINESS

More Than 10,000 Rich Households Didn't Pay Income Tax

Out of the 3.9 million households that reported an adjusted gross income of $200,000 or more in 2009, more than 10,000 households paid nothing in taxes, according to a new study from the Internal Revenue Service.

THE HUFFINGTON POST - BUSINESS

Harlan Green: The Recipe for Growth Is...

Individuals, families, and countries must have enough foodstuffs to grow, even if there is less to eat during times of austerity.

Political economy News From the Web

05/30/12 IMF Director Pillories Tax Evaders While Paying No... Source: Think Progress Lagarde, predicting that the debt crisis has yet to run its course, adds: "Do you know what? As far as Athens is concerned, I also think about all those people who are trying to escape tax all the time. All these people in Greece who are trying to escape tax."
05/30/12 European commission country scorecards Source: The Guardian - London - UK The European commission has given Spain an extra year to carry out one of the harshest deficit cuts seen in Europe and has offered the country a European rescue of its ailing banks.
05/30/12 Special report: Schools, state scrap over savings Source: The York Dispatch - York PA The governor's office and state Department of Education are wagging the finger at school districts, saying they're pleading for more money at a time the state believes they should just turn to their reserve funds.
05/30/12 Do Millionaires Vote With Their Feet? Source: Angry Bear Andrew Rosenthal points us to one of the most eye-poppingly specious arguments I've ever seen against high-earner taxes, from Scott Hodge at the Tax Foundation (my bold). â¦ 612,520 people renounced their New York State citizenship and moved to Florida between 2000 and 2010.
05/30/12 Del Mar school district faces possible deficit spending Source: Del Mar Times - Del Mar CA Del Mar Union School District is looking at the possibility of deficit spending by $4.6 million in 2012-13, district superintendent Jim Peabody reported at the May 23 meeting.

Background on Political economy

Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process.

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