Call him the “9-9-9 candidate.” That’s his economic plan, and he touts the digits every time he gets a chance to speak at a debate or during an interview, drilling it in like an ad jingle. His plan is simple and easily understood, which might be a plus among voters. Praised by supporters for both its simplicity and its specificity, Cain’s plan drops the current 35 percent corporate tax rate to 9 percent, swaps the six-bracket personal income tax system for a 9 percent flat tax and creates a 9 percent national sales tax. “Our tax code is the 21st century version of slavery,” Cain said in a campaign video publicizing his 9-9-9 plan. “We will replace oppression with prosperity.”
The president will claim, “The American Jobs Act proposes a $25 billion investment in school infrastructure that will modernize at least 35,000 public schools — investments that will create jobs while improving classrooms and upgrading our schools to meet 21st century needs,” according to the White House.
(WASHINGTON) — Once again Congress is tied up in knots over how to fund the government — complete with dire warnings that a critical agency, in this case FEMA, is about to run out of money and that the entire government could shut down by week’s end. Congress can’t seem to do anything anymore without going into crisis mode, but top Democrats and Republicans in Congress tell ABC News there is no doubt that this will be resolved.
U.S. stock futures are up Monday morning following reports that eurozone ministers are working on a new and much larger bailout plan for Greece and other nations that could face a potential default. Discussions involve a sizeable write down of Greek debt. Last week, U.S. stock averages lost between 5.5 and 6.5 percent, marking the biggest weekly losses since October 2008.
Here’s a look of the top ten wealthiest Americans: 1. Bill Gates, $59 billion
2. Warren Buffett, $39 billion
3. Larry Ellison, $33 billion
4. Charles Koch, $25 billion
5. David Koch, $25 billion
6. Christy Walton, $24.5 billion
7. Jim C. Walton $21.1 billion
8. Alice Walton $20.9 billion
9. George Soros $22 billion
10. Sheldon Adelson, $21.5 billion
“We need funding to help this country, to help pull it out of the economic doldrums. I’m always looking for new opportunities, and you know, contributing to the U.S., I think, creates opportunity.” He closes his blog, “Get out there and make a boatload of money. Enjoy the sh*t out your money. Pay your taxes. It’s the most Patriotic thing you can do.”
(WASHINGTON) — Congressional Republicans lashed out against President Obama’s revamped plan to reduce the nation’s deficit, criticizing him for “political posturing” and “undermining” bipartisan negotiations on deficit reduction with a “partisan” proposal, while Democratic lawmakers commended the president for offering “a serious approach” that creates jobs “in a fiscally responsible way.”
This Week with Christiane Amanpour - Economic Crisis
In today’s episode of This Week, Former President Bill Clinton talks with Christiane Amanpour to talk about his preparation to convene the annual meeting of his Clinton Global Initiative. He will focus on the unemployment crisis that will bring together world leaders and CEOs and discuss the huge challenges this country faces. Next, joining Amanpour, to discuss how President Obama is grappling with the economic crisis, is George Will, Cokie Roberts, Presidential historian Michael Beschloss and ABC Senior Political Correspondent Jonathan Karl. Lastly, Amanpour talks with Google’s Chairman Eric Schmidt to discuss what it will take for business to follow his company’s lead to put America back to work.
(WASHINGTON) — As President Obama continues to drum up support for his $447 billion jobs plan, House Speaker John Boehner will deliver an alternative path for job creation in an address to the Economic Club of Washington Thursday, focusing chiefly on tax reform by broadening the base of the tax structure without raising taxes and continuing the GOP’s quest to cut red tape from Washington’s bureaucracy.
Twin Tower Lights (Taken with Instagram at Brooklyn Heights Promenade)
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