ECONOMY

'Paris Hilton Tax' Vs. 'Death Tax': A Lesser-Known Fiscal Debate

9:34pm December 11, 2012

by Scott Horsley

The estate tax is yet another piece of the fiscal cliff that needs to be worked out. Those who want to the raise what they call the "Paris Hilton tax" say it applies only to the very rich, who can afford to pay. Opponents of the increase, however, brand it the "death tax" and say it hurts farmers and small-business owners.

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Economy

What Changes In Right-To-Work States?

4:26pm December 11, 2012

The Michigan House approved two measures that would make the state the 24th in the nation to enact right-to-work legislation. Protesters continue to gather at the State Capitol in opposition to legislation that will likely weaken unions in the home of the United Auto Workers.

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Detroit Tries To Stave Off State Takeover Of Finances

10:55am December 11, 2012

by Quinn Klinefelter

If the mayor and City Council can't agree on a plan to reduce the budget deficit, state officials are poised to take away their power over Detroit's purse strings. The mayor and the council blame each other for the impasse. And with the deficit deepening, residents' frustration continues to mount.

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A boy jumps into the sea from high above in the harbor of Mousehole, Cornwall, England.

What Happens If We Fall Off The 'Fiscal Cliff'?

10:55am December 11, 2012

by Tamara Keith

President Obama and congressional Republicans have been trying to negotiate a deal to avert the automatic tax hikes and spending cuts known as the "fiscal cliff." But what happens Jan. 1 if no agreement is reached? Some experts say not much will happen — at least not immediately.

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A demonstrator shouts during a protest against housing evictions in Madrid last month. The sign to his right reads, "Stop evictions."

Spain's Crisis Leads To Rise Of Grass-Roots Groups

8:44pm December 10, 2012

by Sylvia Poggioli

The country's protest movement has evolved into a broad range of groups now filling the gaps left by the eroding welfare state. From doctors to teachers and homeowners to judges, Spaniards are organizing.

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Economy

Jobless Rate Drops In First Post-Election Report

11:51am December 07, 2012

The Labor Department reported Friday that the nation's unemployment rate fell to 7.7 percent in November as employers added 146,000 jobs. In October, the jobless rate was 7.9 percent. Analysts had predicted weaker numbers for November, partly because of the storm's aftermath.

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In her series for The New York Times, reporter Louise Story says that the manufacturing sector — automakers, in particular — benefit the most from incentive packages.

Economy

A Thin Line: Economic Development Or Corporate Welfare?

8:59am December 07, 2012

In her new series for The New York Times, reporter Louise Story traces the complicated relationship between localities and the corporations they want to lure to their states, counties and cities to help promote economic growth.

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Camden City Police Chief Scott Thomson says he has shooting investigations "backlogging like burglary cases." Half of his force was laid off last year, and the city says expensive benefits in the police union contract are preventing them from hiring more

Crime-Ridden Camden To Dump City Police Force

7:54pm December 06, 2012

by Ailsa Chang

Already this year, the New Jersey city has surpassed its previous record for murders. But despite the high crime rate, the city is laying off its police force. City officials, who say the unionized police force has too many perks, are now turning to the county to provide a larger and cheaper force. Critics say the move is a strategy to bust the union.

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French President Francois Hollande (left) and German Chancellor Angela Merkel take part in a bilateral meeting at the EU headquarters in Brussels on Nov. 22 as part of a European budget summit.

What Should The U.S. Learn From Europe's Woes?

4:21pm December 06, 2012

by Tom Gjelten

As President Obama and lawmakers try to find a formula for spending cuts and tax increases, they might look across the Atlantic for insights from those who have been wrestling with budget problems. The first lesson from Europe's "fiscal consolidation" experiences: It will hurt.

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Fixing The Budget, While Protecting The Middle Class

1:58pm December 06, 2012

House Republicans and the White House are at a stalemate over how best to avoid the so-called fiscal cliff. As the deficit deadline approaches, the priority for Senate Budget Committee member Sen. Sheldon Whitehouse (D-RI), is to protect the middle class.

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