Word: taxing
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...have been forced to sell long-held positions to meet redemptions this year, they have generated capital gains - which must be passed along to investors. We might therefore also see a round of year-end selling of mutual-fund shares by investors looking to offset gains and avoid paying taxes by locking in losses. "Tax-loss selling is a very powerful force," says Joe Battipaglia, market strategist for the private client group at Stifel Nicolaus. "The market is down 50% from a year ago - those are sizable losses...
Taking effective control of U.S. economic policy two months before he will be sworn into office, President-elect Barack Obama promised an "aggressive" economic recovery plan in the first month of 2009 that will include tax cuts and new spending on jobs, energy infrastructure, health care and education...
...consensus for such a massive infusion holds - and with large Democratic majorities in both Houses of Congress, there is little reason to think otherwise - Obama would be able to include in the measure a number of programs he has advocated: tax cuts, jobs and spending initiatives, health-care reform, aid to beleaguered industries and energy-efficient investments and infrastructure...
...brief remarks today, Obama also hinted that he might not raise taxes on the wealthiest Americans until 2011, perhaps waiting until the Bush tax cuts on top earners expire in 2010. He said he would speak tomorrow about the need to slice from the federal budget spending programs that are no longer needed to help pay for the stimulus. And he noted that he would be receiving daily briefings from his economic team about financial developments...
...presidency. And if his platform is any indication, he hopes to attack poverty, ignorance, and lack of economic opportunity head-on. Among other measures, he has promised to increase education funding, invest in job-creation programs in disadvantaged neighborhoods, and raise the minimum wage and the Earned Income Tax Credit. While these campaign pledges may be transformed or scaled back in the face of wider recession, they reflect Obama’s understanding of the problems that disproportionately affect minorities, and his desire to solve them...