Remember the expression, “The devil is in the details?” The news is dominated by the politics and economics of the tax deal negotiated by the Administration and Republicans. (It should be labeled Fiscal Stimulus Two.) But there’s a dearth of detail about how the deal will affect Main Street. Laura Saunders of the Wall Street Journal, one of the best journalists covering taxes, looks at how the various known provisions might affect taxpayers. The New York Times has a similar story.
The tax folks at CCH offer a detailed analysis for taxpayers.
The Administration agreed to put the estate tax at its second lowest level in 80 years.
The Ipad and other mobile internet devices are hot. So are Facebook and social media. Little wonder tech firms are hiring. .
Many listeners are state and local government employees. Concerns are mounting about the pension promises that have been made to them. The Sunday New York Times had a sobering story about the fragile state of public pensions. But if you really want to get into the weeds of the problem, check out this primer by Douglas Elliott of the Brookings Institution: Warning: He’s done a real service, but its a heavy slog, good for pilicy wonks and the financially curious.
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