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20,000 demonstrate in Greece against austerity

More than 20,000 public sector workers demonstrated in Athens Wednesday in a strike against deeper austerity cuts that shut down courts, schools and transport, including air traffic. Police used tear gas to clear some of the protesters, who included a 500-strong anarchist group, from central Syntagma Square opposite parliament, an…

GOP Rep. Frank Wolf: Grover Norquist profits from ‘unsavory people’

Republican Rep. Frank Wolf of Virginia on the House floor Tuesday attacked Grover Norquist and his anti-tax pledge, which has been signed by nearly every Republican in the House and Senate. “My conscience has compelled me to come to the floor today to voice concerns I have with the influence…

Obama says he is the ‘underdog’ in 2012

WASHINGTON — President Barack Obama said Monday he was “absolutely” the underdog as he embarks on a tough reelection fight in 2012 but promised he was steeling for a fight over “values and vision” with Republicans. The president also admitted that Americans were “not better off” now than they were…

‘Super-Committee’ Democrats push tax hikes first in deficit talks

WASHINGTON (Reuters) – Democrats want tax hikes to be the first item negotiated in “super committee” deficit-reduction talks, trying to force Republicans to confront an issue at the heart of this year’s budget fights, sources told Reuters. The tough stance by Democratic members of the powerful 12-member congressional panel reflects…

Bloomberg: Buffett’s tax the rich comments ‘theatrics’

Michael Bloomberg won’t be endorsing Warren Buffett’s ‘tax the rich more’ proposal anytime soon. The New York City mayor appeared on Meet The Press Sunday morning, describing his fellow billionaire’s recent comments on taxes as ‘theatrics” and defending high income individuals once again. “I think it’s not fair to say…

Bloomberg: Buffett’s tax the rich comments ‘theatrics’

Michael Bloomberg won’t be endorsing Warren Buffett’s ‘tax the rich more’ proposal anytime soon. The New York City mayor appeared on Meet The Press Sunday morning, describing his fellow billionaire’s recent comments on taxes as ‘theatrics” and defending high income individuals once again. “I think it’s not fair to say…

Obama: ‘This is not class warfare; it’s math’

President Barack Obama Monday introduced his plan to trim the deficit, including a “Buffett rule” — named after billionaire Warren Buffett — which would ensure that people making over $1 million a year would pay a tax rate as high as the people that work for them. “Middle class families…

Senate bill would kill stock option tax break

WASHINGTON (Reuters) – A tax code loophole that gives corporations large deductions on executive stock options would be closed under legislation unveiled on Friday. As Congress and the White House struggled with budget issues, Democratic Senator Carl Levin offered the measure, calling it a promising revenue-raiser that would discontinue “a…

Poll: Americans blame Bush for bad economy by wide margin

By a wide margin, more Americans blame former President George W. Bush for the national economic outlook than they do President Barack Obama, according to a new poll. Numbers out of Quinnipiac University Thursday morning indicated that 54 percent of Americans say Bush is to blame for exploding the federal…

Global warnings intensify stakes of debt rift

President Barack Obama and Republicans prepared for more tough talks Thursday to avert an August debt default, after Moody’s held out the threat of downgrading the sterling US credit rating. The credit ratings agency sparked worldwide concern when it placed Washington’s triple-A debt rating on a downgrade watch because of…

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