Posts tagged as:

economy

Obama Caps Exec Pay in Bailout Plan: Will It Make a Difference?

5 February 2009

Taxpayers have been crying foul for weeks now after it was revealed that executives of failing financial institutions were still being rewarded with extraordinary pay outs. How big were the pay outs? If you include stock options, bonuses and perks, the chief executives of 10 banks which received $161 billion in federal bailout [...]

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Modified Version of Stimulus Bill Passes House

28 January 2009

If this was to the be dawn of a new era of bipartisanship, it didn’t look like it today. President Obama’s stimulus package, a modified version of the original $825 billion plan, shaved off a few billion and still did not manage to get one Republican “yes” vote in the House. The final vote [...]

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Geithner Says “I’m Sorry”

22 January 2009

In a hearing before the Senate Finance Committee, Timothy Geithner says he is sorry.

Is it enough?
The Committee seemed to think so, voting today in favor his nomination as Treasury Secretary. The final vote was 18-5 with the following Senators voting against Geithner: Chuck Grassley (R-IA); Jon Kyl (R-AZ); Jim Bunning (R-KY); Pat Roberts [...]

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Ask the taxgirl: Should I Wait on Obama to File My Taxes?

20 January 2009

Taxpayer asks:
Obama is saying he wants to give us tax breaks retroactive to 2008. Should we wait to do our taxes until we see what he is going to do? Thanks,
Taxgirl says:
Don’t wait to file!
The current proposal being offered by the House doesn’t offer any credits or tax breaks retroactive to 2008. [...]

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At Least One Source of Misleading Rebate Check Stories Identified

20 January 2009

Remember this question from a reader asking about a second stimulus check? She said that she had recently heard on the news that there would be a second stimulus check in February. I received a slew of similar of similar emails from folks swearing that the news had reported that a second stimulus [...]

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Ask the taxgirl: Don’t Look for a Second Rebate Check in the Mail!

19 January 2009

Taxpayer asks:
I saw on the news that we will have a second check in February. I can’t find it again. Can you help?
Taxgirl says:
Wow. Just wow.
I’ve received a slew of similar emails over the weekend.
I don’t know where this info is coming from – or what news program might have [...]

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Democrats Offer Up Version of Tax Bill

17 January 2009

Remember when I said that it was going to be a long January? I wasn’t kidding. Just before the long break, Democrats in the House revealed their tax plans as part of a new stimulus package. And if you’re expecting a quick “yes” vote, don’t hold your breath.
The plan includes a whopping [...]

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Vote on Stimulus Package Set for After the Inauguration

9 January 2009

This week, it was announced that the total job losses for 2008 were more than 2.6 million, the highest since 1945. It was no surprise, then, that Congress is rushing to approve a much touted economic stimulus package.
Speaker Nancy Pelosi has said that she expected a House on the matter the week after [...]

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Obama Promises Stimulus Package – But No Word on Second Stimulus Check

24 November 2008

President Elect Barack Obama has promised that he will do “whatever it takes” to stimulate the economy. While he hasn’t laid out the entire plan, Obama has put an economic team in place to begin work on a stimulus package.
Calling the potential package “costly” (imagine that!), Obama refused to put a price tag on [...]

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AIG Sues IRS for Enormous Refund

15 November 2008

AIG has revealed that they are suing the IRS for $329 million, claiming a refund for back taxes and penalties. Hmm, I wonder if they’ll return some of that bailout money if they win?
Oh wait. They won’t win.
That’s because the IRS has already labeled the transactions “abusive” and penalized the company for taking [...]

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