Senator Majority Leader Bill Frist put off the vote on making permanent the federal estate tax repeal until after the summer break. You may recall that I previously reported that the Senate did not have the necessary votes for the bill but had vowed to call a vote nonetheless prior to the break, perhaps symbolically. Well, it didn’t happen. Now we wait.
The House moved quickly to vote yes on a bill to tax big employee bonuses given by companies who have taken substantial amounts of TARP money. The bill would impose a 90% tax on bonuses to highly compensated employees of companies that received more than $5 billion (with a b) in TARP money from the…
With Iowa under their belts, the GOP candidates are pushing onto New Hampshire. I’m live blogging the GOP debate.
Quick pop quiz: what form of tax do most Americans claim to hate the most? Income taxes? Nope. Payroll taxes? Nope. Tax on alcohol? Tax on cigarettes? Nope and nope. It’s the federal estate tax. That’s a pretty remarkable statement considering that fewer than 2% of Americans are generally subject to the federal estate tax…
Things are turning around for the Yankees. Derek Jeter, who hasn’t played this season, made an appearance on the field today, taking a few practice swings. The team is 2nd in the AL East (and yes, their winning percentage is much better than my beloved Phillies who are a dismal 3rd in the NL East)….
So maybe we were all wrong after all. After I posted that Tori Spelling stood to inherit a “significant portion” of her father’s estate, we find out that’s not necessarily true after all. Us Weekly is now quoting sources that say that 33-year-old Tori will inherit just $800,000 of her father’s estimated $500 million estate as…
It’s official: we have a new Secretary of the Treasury. The Senate has confirmed Timothy Geithner, President Barack Obama’s pick for Treasury Secretary. The votes for Geithner did not reflect overwhelming confidence in Obama’s pick. The final vote was 60-34 in favor of Geithner. The vote was not strictly partisan with many Republicans embracing Geithner,…