President Obama promised during the election that he would not raise taxes on anyone earning less than $250,000. But commentator Lawrence Haas says the president has to, and likely will, raise taxes on the middle class once the economy recovers.
It's been almost a year since Lehman Brothers bit the dust, and creditors are still lining up to get their money back in bankruptcy court. Near the top of the list is a very familiar name: the City of New York. Amy Scott reports.
The era of steady, lifelong 9-to-5 employment seems to be waning. These days more people work for themselves or telecommute for different firms. Commentator Amelia Tyagi says the tax code needs to adapt to a changing workforce.
Consumers in Massachusetts have enjoyed a weekend-long holiday from state sales tax every August for the past five years. But this year, the break is gone and taxes are going up. Abigail Beshkin reports.
TARP watchdog Neil Barofsky estimates that the $700 billion stimulus could end up costing taxpayers $23.7 trillion in the long run. But response from lawmakers, bankers and bloggers have been skeptical of his massive estimate. Steve Henn reports.