Jul 13 Is California Printing Its Own Money? Question: Is California printing its own money? Paul Solman: Funny you should ask. The State of California Franchise Tax Board website currently features this statement: “We will accept registered warrants…towards the payment of tax liabilities.” State taxes, of… Continue reading
Jul 01 Watch California Leads States Facing Deepening Budget Crises Several states are struggling to find solutions for deep budget gaps as a new fiscal year begins. Jeffrey Brown examines the budget picture across the country. Continue watching
Jun 26 Did U.S. Tax Policy Contribute to the Housing Bubble? Question: How much does (did) federal tax policy contribute to the housing bubble? If it was a contributing factor, how should that policy be reformed? Paul Solman: Not much, I wouldn’t think. Tax deductibility of mortgage interest has been… Continue reading
Jun 11 What Happens to California State Bonds if the State Goes Bankrupt? By Business Desk Question: I live in California and own California State Bonds. What happens to state bonds if the state goes bankrupt? Paul Solman: They stop paying, both interest and principal. That’s what a default IS. Last September 15, Lehman Brothers… Continue reading
Jun 04 Which Taxes Offer an Opportunity to Be Progressive? Question: What other taxes offer an opportunity to be progressive besides income and inheritance taxes? Paul Solman: Great question. I hope school is still in session. One alternative tax would be a progressive… Continue reading
May 29 Watch States Experiment with Controversial Taxes to Pay for Highway Construction Some states are experimenting with controversial new taxes to pay for highway construction. Special correspondent Lee Hochberg reports from Oregon, where officials are looking into charging drivers a tax based on the number of miles they drive in lieu of… Continue watching
May 14 What’s the Story With Regulating Derivatives? By Business Desk Question: What’s going on with the just-announced regulatory reform of derivatives? Paul Solman: Plenty. And you could say it’s about time. One of the leading scandals of recent years (and that’s no easy feat, considering how crooked a track… Continue reading
Apr 28 Watch Economy Top Concern in St. Louis as Obama Hits 100 Days As part of this week's series of reports from St. Louis, Gwen Ifill speaks with city residents about the shape of the economy and how President Barack Obama has fared during his first 100 days in office. Continue watching
Apr 21 If AIG Uses Its Bailout to Pay Off Other Debts, Is That a Ponzi Scheme? Question: If we are shoveling money into AIG and they are pushing it out the back door to pay off bad debts and then banks announce profits, does this mean we are in a… Continue reading
Apr 14 Why Don’t We Tax the Buying and Selling of Stocks? Question: How much revenue would a 1 percent federal tax on the buying and selling of stocks produce? We have federal taxes on gasoline, so why not the selling of stocks? Surely, someone who is spending $1,000 can afford a… Continue reading