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...this point, the new Congress and administration seem likely to use $825 billion in aid and $350 billion in TARP money to bring down the tax burden, salvage troubled mortgages, and create a great series of public works projects. These programs are supposed to create over three million jobs as they build energy, education, IT, medical, and broadband infrastructure. Getting the capital for these into the system means running them through government agencies and into the private sector. Many of the projects will operate in regulated parts of the economy like the health care system, so they will be subject...

Author: /time Magazine | Title: The Economy: A Portrait Of The 2012 Inauguration | 1/20/2009 | See Source »

...voting in the man you believe is Lucifer?” “Well, I’ve got to tell you that it was one of the most difficult decisions I’ve ever had to make, but when I saw McCain’s tax plan?...

Author: By Clay A. Dumas | Title: Messiah or Antichrist? | 1/20/2009 | See Source »

...Opting the Republicans Obama's shrewdest move, though little noticed at the time, came two weeks ago, when he broadened his long-promised package of tax cuts for individuals to include a larger array of deductions for businesses. These proposed tax cuts and credits take the form of accelerated depreciation schedules for certain investments and complex prior-year tax rollbacks. The surprise proposals set the stage for what is likely to be a bipartisan passage of the stimulus package. The sheer volume of these cuts - numbering in the hundreds of billions - makes it very difficult for Republicans to oppose...

Author: /time Magazine | Title: In Transition, Obama Comes Up Aces | 1/20/2009 | See Source »

...just a few of the many suggested changes in economic policy: "...create a true progressive tax system by reducing rates on those earning under $200,000 and raising top rates on the fortunate few back at least to 38 percent, as in the 1990s when the economy was steaming ahead...strengthen unions - one of the few mechanisms able to improve real income for workers - by enacting the Employee Free Choice Act...Is all this just 'class warfare,' according to the rhetoric of conservatism? Answers Warren Buffett, now the wealthiest American: 'It's class warfare only because my class started...

Author: /time Magazine | Title: Obama's Progressive Manual for Change | 1/20/2009 | See Source »

...elbowed its way up to the table and can block laws in the upper house. FDP chairman Guido Westerwelle, who meets Merkel this week for talks, is eager to test his new power by forcing Merkel to revise her €50 billion economic stimulus package to include deeper income tax cuts and fewer cash incentives to consumers, such as the €2,500 handout designed to persuade Germans to trade in their old cars for new models. Whether or not Westerwelle prevails, the shifting balance of power will have an impact in Germany and beyond its borders...

Author: /time Magazine | Title: Merkel Scores Big Win in Regional Election | 1/19/2009 | See Source »

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