Much of the discussion around tax reform these last few weeks has focused on income tax and details like tax brackets and tax rates. Meanwhile, 40 percent of taxpayers don’t pay any income tax, while almost all of them see…
Retail sales ticked up by 1.1 percent last month according to the Commerce Department. The growth was better than expected, despite higher gas prices and the payroll tax increase that went into effect at the beginning of the year.
Steve Presser, proprietor of Big Fun toy store in Cleveland, says although the deal to avert the fiscal cliff eases uncertainty among consumers, the payroll tax increase raises a whole other list of issues.
Parts of the broadcast spectrum will be auctioned off to help cover the costs of the payroll tax cut and extended long-term unemployment benefits. Even a sliver of spectrum could bring a big chunk of cash.
A tentative deal has been reached to extend the payroll tax cut, as well as some unemployment benefits and Medicare payments. As the economy stays sluggish, we're in an era of seemingly endless government stimulus.
News out of the U.S. and Europe today could mean more spending at home and more debt problems in Greece. But Josh Brown of Fusion Analytics says neither piece of news will make a huge difference in the markets.