President Barack Obama 's fiscal 2015 budget request would boost U.S. tax revenues by nearly $1.4 trillion over 10 years if fully enacted, slashing deficits by $1.05 trillion while funding new spending, the Congressional Budget Office said on Thursday.There is virtually no chance that Congress will advance Obama's plan in its entirety. But the CBO's latest analysis will feed campaign messaging by both Democrats and Republicans ahead of congressional elections in November.The analysis compares Obama's request to a new "baseline" estimate that CBO released last week that assumes no changes to current tax and spending laws.But Obama's budget plan is loaded with new policy changes, including an assumption that sweeping immigration reforms are enacted, producing a net 10-year deficit reduction of $158 billion.It proposes to boost revenues by limiting tax breaks for wealthy Americans and businesses, imposing a new tax on millionaires, raising tobacco taxes, and restoring estate and gif...
Journalist and author Matt Taibbi on what makes a good writer, future plans after Rolling Stone and his new book ‘The Divide: American Injustice in the Age of the Wealth Gap .’
Talking Points 4/7
Reaction to focus on income inequality
Peter Doocy reports from Washington, D.C.
University of Chicago Booth School of Business’ Austan Goolsbee, Trean Group’s Scott Shellady, the Layfield Report’s John Layfield, FBN’s Charles Payne, Lauren Simonetti and Nicole Petallides on the job market, stocks, Yelp and a Robin Hood sales tax.
FBN’s Charlie Gasparino, Steve Moore of Heritage and John Silvia of Wells Fargo discuss the economy and income prosperity.
Comedian-in-chief lampoons Republicans
The world’s largest retail trade association writes a letter to the Senate saying a mandated wage hike would hurt employers and essentially decrease the number of job opportunities for teen and entry-level workers.
Open enrollment ends at midnight
Catholic League President Bill Donohue on the President’s meeting with Pope Francis and ObamaCare’s contraception mandate.
Talking Points 3/28
The number of people still out of work is not only weighing on the economy and labor market, it's also hurting income.With millions out of work, employers are able t...
Where is your tax money going?
Steve Forbes and Steve Moore on why taxing the rich is not a good plan for improving the economy.
Walgreen (NYSE:WAG) isn't the only company under pressure, including by shareholders such as Goldman Sachs (NYSE:GS), to move its headquarters overseas due to high U...
CKE Restaurants CEO Andy Puzder and Economist Jerry Bowyer on the IRS targeting scandal.
FBN’s Stuart Varney sounds off on income inequality and taxes.
FBN’s Charlie Gasparino, Penn Financial Group president Matt McCall, and United Advisors chief market strategist Scott Martin discuss income inequality .
Talking Points 4/8