Following up on my entry yesterday about taxes...
There is an interesting graphic in today's NY Post on how everyone in New York is gonna get socked in taxes. Costs are going up for everyone, not just the wealthy.
As the graphic indicates, even just a 1% increase in taxes will cost the family an extra $4,000 per year. Combine that with the 4.6% jump on the federal side coming in two ... read more
I appreciate all the thoughtful comments on my column on higher taxes and the economy. There seems to be some misunderstanding of my primary point, however.
My point was not to suggest that higher taxes equate to higher unemployment (though they may in specific consumer discretionary related segments of the economy such as boats and RVs that require much free cash flow to purchase), but ... read more
While campaigning, President Obama made the now-famous comment to the now-infamous plumber that he wants to "spread the wealth around" by raising taxes. He certainly isn't alone these days in wanting to stick it to the wealthy. Protesters at the G20 meeting, in the streets of New York City and on bus tours of AIG executives' homes are all calling for higher taxes and their populist ... read more
Associated Press
Stories I'm watching this weekend:
Now the government is firing CEOs (GM CEO Wagoner forced out by gov't)
New York votes to raise taxes on the wealthy
Who really are "the wealthy?" This study shows most made their money on their own and didn't inherit it
Ahead of G20 meeting protestors denounce banks, capitalism and talk of distributing the wealth
The FT on ... read more
Shares of Best Buy (NYSE: BBY)continue their march higher. Optimism about consumer spending recovering later in the year along with less competition helping the shares.
The stock is now more than $15 per share higher than when I discussed the bullish case for the company back on December 4th. Shares were around $22 bucks then and closed at just under $38 on ... read more
Ronald Reagan said the nine most frightening words in America are "I'm from the government and I'm here to help."
Perhaps we could add a few words to that famous phrase now to: "I'm from the government and I'm here to help ... solve the problems I helped create."
Big government right now believes they are the answer to the economic problem. While Congress itself isn't the only party ... read more
The marketing and health firm just paid out $36.4 million in bonuses to its distributors at a lavish event in Los Angeles. Six of the top performers made more than $1 million in bonus, and the firm spent more than $3 million in hotel and entertainment costs in Beverly Hills. This even though the stock is at a 4 year low.
Should America be upset about this? Of course ... read more
Stories I'm watching this Thursday:
Before it happens: We got SEC Chairwoman's remarks Thursday on Wednesday night (Fox Business)
EU President says our stimulus plan is the "road to hell" (Associated Press)
GM and Chrysler need even more money (WSJ)
The Chinese trump us again on high speed rail (Xinhua)
Real estate and tax revenues down, NYC raises ... read more
Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block.
Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.
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March 31, 2009 01:28 PM EDT
Is New York City An Example Of Tax Hikes To Come?
Following up on my entry yesterday about taxes... There is an interesting graphic in today's NY Post on how everyone in New York is gonna get socked in taxes. Costs are going up for everyone, not just the wealthy. As the graphic indicates, even just a 1% increase in taxes will cost the family an extra $4,000 per year. Combine that with the 4.6% jump on the federal side coming in two ... read more
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