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Transition 2012

A guide to foreign policy and the 2012 U.S. presidential transition.

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Showing posts for "Taxes"

Midday Update: Economy Still Driving Election

by Newsteam Staff
Photo of the Day: U.S. Federal Reserve Chairman Ben Bernanke on Capitol Hill in Washington, July 17, 2012. (Yuri Gripas/Courtesy Reuters) Photo of the Day: U.S. Federal Reserve Chairman Ben Bernanke on Capitol Hill in Washington, July 17, 2012. (Yuri Gripas/Courtesy Reuters)

President Barack Obama and Republican challenger Mitt Romney escalated their continuing campaign trail battle over the economy, the free market, and integrity Monday, each attempting to portray the other as part of the nation’s problem rather than its solution (NYT). Read more »

Midday Update: Obama Takes on Romney’s Tax Plan

by Newsteam Staff
Photo of the Day: President Barack Obama exits the Oval Office to depart for travel to campaign events in Ohio, July 16, 2012. (Jonathan Ernst/Courtesy Reuters) Photo of the Day: President Barack Obama exits the Oval Office to depart for travel to campaign events in Ohio, July 16, 2012. (Jonathan Ernst/Courtesy Reuters)

At a Monday town hall meeting in Ohio, President Obama is expected to tell voters that GOP challenger Mitt Romney’s proposals to limit taxing of U.S. companies’ overseas profits  would spur job growth in foreign countries (AP), including China. The two candidates have been waging a war of words for weeks, accusing each other of outsourcing U.S jobs. Read more »

Economy Update: New Welfare Rules Add to Jobs Debate

by Newsteam Staff
An unemployed woman on food stamps clips coupons while her son plays in Independence, Iowa July 5, 2011 (Jessica Rinaldi/Courtesy Reuters). An unemployed woman on food stamps clips coupons while her son plays in Independence, Iowa July 5, 2011 (Jessica Rinaldi/Courtesy Reuters).

The Obama administration quietly announced last week major election-year changes in how states meet federal welfare-to-work requirements for some of their poorest residents (AP), as the job market continues to flag. The new requirements allow states to waive the work mandate and embark on experimental reform projects of their own. Read more »

Economy Update: Analysts Find Outsourcing Debate Lacking

by Newsteam Staff
Call center agents work overnight in Manila's Makati financial district February 6, 2012 (Erik De Castro/Courtesy Reuters). Call center agents work overnight in Manila's Makati financial district February 6, 2012 (Erik De Castro/Courtesy Reuters).

Companies sending U.S. jobs overseas has quickly become a major campaign issue, with both political parties trading barbs on who has been responsible for more job loss and analysts trying to give more context about what the issue actually means for U.S. employment and the economy. Read more »

Economy Update: Tax Breaks No Silver Bullet for Voters

by Newsteam Staff
Shannon Philbrick of Liberty Tax Services dressed as the Statue of Liberty waves a sign at drivers in Westminster

Four months ahead of the election, President Barack Obama is increasing his campaign trail focus on taxes, calling on Congress to keep Bush-era tax cuts for households making less than $250,000 per year, but analysts say the change is unlikely to help the U.S. economy or the president’s reelection bid. Read more »

Midday Update: Obama Faces Outsourcing Criticism

by Newsteam Staff
Photo of the Day: Traders on the floor of the New York Stock Exchange, July 10, 2012. (Brendan McDermid/Courtesy Reuters) Photo of the Day: Traders on the floor of the New York Stock Exchange, July 10, 2012. (Brendan McDermid/Courtesy Reuters)

As the Obama campaign continues to press its case against Republican opponent Mitt Romney for outsourcing jobs, President Barack Obama faces criticism from the left for allegedly continuing to allow U.S. jobs to move overseas during his presidency (WashPost). Read more »

Midday Update: Obama Again Calls for Middle-Class Tax Break

by Newsteam Staff
Photo of the Day: President Barack Obama meets with middle class families at the White House, July 9, 2012 (Jason Reed/Courtesy Reuters). Photo of the Day: President Barack Obama meets with middle class families at the White House, July 9, 2012 (Jason Reed/Courtesy Reuters).

Facing a lethargic job market and a still-fragile economy threatening his reelection chances, President Barack Obama Monday took on taxes and their impact on the recovery, calling for a one-year extension of the Bush-era tax cuts for those making less than $250,000 on Monday (NYT). Read more »

Economy Update: Healthcare Law, A New Tax Or Not?

by Newsteam Staff
A patient gets a check up at University of Chicago Medicine Primary Care Clinic in Chicago June 28, 2012 (Jim Young/Courtesy Reuters). A patient gets a check up at University of Chicago Medicine Primary Care Clinic in Chicago June 28, 2012 (Jim Young/Courtesy Reuters).

The national healthcare debate remains a campaign issue as candidates continue to discuss whether they agree with the Supreme Court’s ruling late last month that so-called individual mandate to buy insurance falls under the federal government’s taxing power. Read more »

Midday Update: Romney Plans Israel Trip

by Newsteam Staff
Photo of the Day: After a violent storm last Friday left millions in the Washington metro area without power, a lineman works to restore power in Falls Church, Virginia July 2, 2012 (Kevin Lamarque/Courtesy Reuters). Photo of the Day: After a violent storm last Friday left millions in the Washington metro area without power, a lineman works to restore power in Falls Church, Virginia July 2, 2012 (Kevin Lamarque/Courtesy Reuters).

Presumptive Republican presidential nominee Mitt Romney will visit Israel this summer (NYT) to meet with Prime Minister Benjamin Netanyahu, Palestinian Authority leader Salam Fayyad, and other officials, a senior aide to the prime minister confirmed late Monday. Read more »

Economy Update: Healthcare Law’s Implications for Jobs

by Newsteam Staff
A patient has her knee examined by a doctor at University of Chicago Medicine Urgent Care Clinic in Chicago, June 28, 2012 (Jim Young/Courtesy Reuters). A patient has her knee examined by a doctor at University of Chicago Medicine Urgent Care Clinic in Chicago, June 28, 2012 (Jim Young/Courtesy Reuters).

The U.S. Supreme Court’s Thursday decision to uphold the Affordable Care Act moved debate over the law to presidential campaign, as candidates and analysts continue to disagree over its economic implications. Read more »