Related Content: tax

CBO: Taxmageddon Would Throw U.S. Back into Recession

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Tax hikes and spending cuts set to take effect in January would suck $607 billion out of the economy next year, plunging the nation at least briefly back into recession, the nonpartisan Congressional Budget Office said Tuesday. Unless lawmakers act, the economy is likely to contract in the first half of 2013 at an annualized rate of 1.3 percent, the CBO said, before returning to 2.3 percent growth later in the year.

Mitt Romney’s tax returns shed some light on his investment wealth

On The Radar

Mitt Romney offered a partial snapshot of his vast personal fortune late Monday, disclosing income of $21.7 million in 2010 and $20.9 million last year — virtually all of it profits, dividends or interest from investments. None came from wages, the primary source of income for most Americans. Instead, Romney and his wife, Ann, collected millions in capital gains from a profusion of investments, as well as stock dividends and interest payments.

Romney Tax Returns Show 2-Year Income of $45 Million

On The Radar

Mitt Romney’s campaign released details of his federal tax returns on Tuesday morning, showing that he is likely to pay a total of $6.2 million in taxes on $45 million in income over the two tax years of 2010 and 2011.

PBS NewsHour: How Would Payroll Tax Extensions Be Funded?

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President Obama wants to extend a payroll tax cut and many Republicans do too, but both sides are far apart on how to get it done. Gwen Ifill discusses how the extension could be funded with White House National Economic Council Director Gene Sperling and Sen. John Barrasso, R-Wyo.

On the Radar: January 14, 2010

Legacy: On The Radar

January 15, 2010

Weekly Show

This week Gwen and the panel will discuss the catastrophic earthquake in Haiti, the history of the poverty-stricken nation, the president's announcement this week that the government will institute new fees on the nation's banks, and the Massachusetts Senate race.