How To Recreate The 1930s Double Dip in Less Time?
CNBC
UK Raises Tax, Slashes Spending and Taxes Banks
British Finance Minister George Osborne produced the harshest budget in a generation on Tuesday, slashing spending, raising taxes and slapping a levy on banks.
...The 39-year-old Conservative Chancellor of the Exchequer said government spending would fall by around 25 percent over four years and announced VAT sales tax would go up to 20 percent from 17.5 next year, with a new 2 billion pound levy on banks introduced at the same time.
Nearly a million of the poorest paid people will be taken out of the income tax net altogether by raising its starting point and the headline rate of corporation tax will drop by one percentage point to 27 percent next year and then keep falling...
Permanent Middle Class Tax Cuts Too Costly: Hoyer
House Majority Leader Steny Hoyer said Tuesday that tax increases will eventually be necessary to address the nation's mounting debt, raising a difficult election-year issue as Democrats fight retain control of Congress.
UK Raises Tax, Slashes Spending and Taxes Banks
British Finance Minister George Osborne produced the harshest budget in a generation on Tuesday, slashing spending, raising taxes and slapping a levy on banks.
...The 39-year-old Conservative Chancellor of the Exchequer said government spending would fall by around 25 percent over four years and announced VAT sales tax would go up to 20 percent from 17.5 next year, with a new 2 billion pound levy on banks introduced at the same time.
Nearly a million of the poorest paid people will be taken out of the income tax net altogether by raising its starting point and the headline rate of corporation tax will drop by one percentage point to 27 percent next year and then keep falling...
Permanent Middle Class Tax Cuts Too Costly: Hoyer
House Majority Leader Steny Hoyer said Tuesday that tax increases will eventually be necessary to address the nation's mounting debt, raising a difficult election-year issue as Democrats fight retain control of Congress.