President Obama's Weirdest New Taxes
To achieve $1.8 trillion in new revenue, President Obama has plenty of big taxes in his budget proposal. Here are some quirky maneuvers he suggests.
United States Department of the Treasury
Quiz: How Financially Literate Are You?
From taxes and credit to saving and money management, you can get lost in the complexity of financial issues. How well do you know the basics of personal finance?
Post-Financial Crisis, the SEC Is More Toothless Than Ever
Whether you have millions of dollars invested in stocks, or a few thousand bucks in mutual funds, it's vitally important to you that the SEC -- Wall Street's top cop -- is doing its duty, and enforcing the law. But a new report casts doubt on whether our financial cop is really on the beat.
Treasury Has Sold Its Last Shares of AIG (and Turned a Profit, Too)
The Treasury Department said Tuesday that it has sold all its remaining shares of AIG, wrapping up the government's biggest bailout of the financial crisis. With this sale, the government has received $22.7 billion more than the $182 billion in support it provided to AIG during the crisis.
HSBC to Pay $1.9 Billion to Settle Money-Laundering Case
HSBC agreed Tuesday to pay $1.9 billion to settle a U.S. money-laundering probe. Europe's largest bank will pay the biggest penalty ever imposed on a bank after facing accusations it transferred funds through the U.S. from Mexican drug cartels and on behalf of nations such as Iran that are under international sanctions.
Surprise: New Insurance Fee in Health Care Reform Law
Your medical plan is facing an unexpected expense, so you probably are, too: It's a new, $63-per-head fee to cushion the cost of covering people with pre-existing conditions under President Barack Obama's health care overhaul.
Dear President Obama: Sell the Government's GM Stake Now
Dear Mr. President: I know you're proud of the effort made by your team back in 2009 to save General Motors. You should be. But as good as this GM thing has been for you, with the election now over, it's time to let go and direct the Treasury to sell its stake in General Motors.
Stocks Rise as Investors Wait for a Presidential Winner
Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election. The Dow Jones industrial average was up 146 points at 13,259 just before 1 p.m. EST.
IRS' New Tool to Thwart Tax Cheats Also Helps FEMA Respond Faster
The IRS, FEMA and a growing number of other federal agencies are turning to the powerful art of analytics to help improve their performance, from spotting tax abuses more quickly to making emergency recovery more efficient.
Uncle Sam's GM Investment Is Still Coming Up Short
The Treasury says it expects to lose more than $25 billion on its bailout of the auto industry -- mostly on its GM investment. But we've also been told GM paid back the Feds. How does this add up, and what has to happen for taxpayers to get their money back?
Fannie Mae Posts $2.2 Billion Net Gain for Second Quarter
Fannie Mae earned $2.2 billion from April through June, its second quarterly gain in net income since it was taken over by the government during the 2008 financial crisis.
Senate Set for Symbolic Showdown on Tax Cuts
The Senate is bracing for a tax-cut showdown that is all about Democrats and Republicans showing voters their differences over taxing the well-off while accusing each other of threatening to shove the government over a fiscal cliff.
Tax Facts: GOP Wildly Exaggerates Size of Looming Tax Hikes
Republicans are claiming that "the largest tax increase in American history" will hit at the end of 2012, when a long list of tax cuts will expire unless Congress acts. Only problem is it's not really true.
Many Fortune 500 Firms Pay Less in Income Taxes Than You
It's widely known that millionaires and billionaires pay taxes at a lower rate than those of us who make much less. But did you know that Americans collectively pay far higher income tax rates than many U.S. companies with billions of dollars in profits?
The Taxpayers' $9 Million CEOs: Think of Them As an Investment
News that the Treasury Department had frozen or reduced executive salaries at companies bailed out under TARP prompted a range of reactions, but here's one you probably didn't hear.