Congress
Thanks to yet another lapse by Congress, more than 20 million taxpayers may pay a tax in 2012 that was originally designed to hit only the ultra-rich. It may not happen -- but you should plan ahead for it in case it does.
Aware that most Americans would like to dump them all, members of Congress hope to regain some sense of trust by subjecting themselves to tougher penalties for insider trading and requiring they disclose stock transactions within 30 days.
Four times in five years, lawmakers have introduced the Stop Trading On Congressional Knowledge Act to bar senators and representatives from investing based on knowledge they gained in the course of their duties. Three times, the STOCK Act has died in committee. Will the fourth time be the charm?
Lawmakers have gotten in the habit of waiting until the last minute to extend many tax breaks, but last year, they ran out of time. Now, unless Congress acts soon, millions of Americans are face changes that could leave them sending thousands of dollars a year more to the IRS.
The 8 Biggest Financial Heroes and Villains of 2011
3:30PM 12/29/2011
In a year saturated with big financial headlines, identifying the fiscal heroes and villains is bound to be an exercise in oversimplification. But DailyFinance is going to try: Herewith, we present our picks for the best and the worst of 2011.
More People Like Their Banks Than the Government
10:25AM 12/21/2011
Despite the din from the Occupy Wall Street crowd, not everybody dislikes financial institutions -- at least, not their own. A new poll shows a much higher approval rating for our banks than we give to the folks in Washington.
The (Reality) Check's in the Mail for Postal Service as Doomsday Approaches
5:45PM 12/05/2011
In a last-ditch effort to save itself from bankruptcy, the Postal Service is forging ahead with plans to close half of its 500 mail processing centers and roughly 3,700 of its post offices. The result: Deliveries will take longer.
They say good things come to those who wait. They also say he who hesitates is lost. But when it comes to half a dozen juicy tax breaks, it's the second "they" you should listen to, because he who waits until Jan. 1, 2012, to take advantage of them will be out of luck.
Starbucks CEO Invites 'Concerned Citizens' to a National Town Hall
3:25PM 9/06/2011
Starbucks CEO Howard Schultz has grand plans to cut through the partisan noise and remind our country's politicians of their problem-solving duties: On Tuesday, he's hosting a gigantic, public telephone town hall, and asking all "concerned Americans" to join his movement and participate.
Why Taxing the Rich Is Good for America
10:30AM 8/24/2011
Last week, Warren Buffett wrote an incredible opinion piece in The New York Times asking the government to raise taxes on the wealthiest Americans, himself included. "My friends and I have been coddled long enough by a billionaire-friendly Congress," he argued, and he's not alone in that view.
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