The Financial State of the States
Many state and local governments have struggled with lower tax receipts and large budget deficits — during and after the recession. This article offers a closer look at the financial pressures facing the states and how the methods used to address budget shortfalls could ultimately serve as a drag on the national economy.
Favorable Dividend and Capital Gains Tax Rates Extended—for Now
The 2010 Tax Relief Act extended the 15% maximum tax rates on qualified dividends and long-term capital gains through December 31, 2012. But without further legislation, dividends will be taxed at ordinary income tax rates and capital gains tax rates will return to 20% (23.8% for investors in the two highest tax brackets) in 2013.
HOT TOPIC: Current Economic Conditions and the Prospect for Inflation
Inflation jumped up to 3.2% in April. That’s still below the 50-year average but it may be little consolation for anyone who has been to a gas station or a grocery store recently.
HOT TOPIC: American Manufacturing: Rebound or Renaissance?
During the last decade, U.S. manufacturing lost millions of jobs to foreign competition. The sector appears to be coming back strong, adding almost half a million jobs since 2010 as productivity rises. This article examines the conditions that originally caused the exodus of U.S. industrial production and those that may bode well for its future.
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