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Mitt Romney has picked up a consolation prize from the South Carolina Republican presidential primary: two delegates.
Why do Mitt Romney and other wealthy investors pay lower taxes on the income they make from investments than they would if they earned their millions from wages? Because Congress, through the tax code, has long treated investment more favorably than labor, seeing it as an engine for economic growth that benefits everyone.
Newt Gingrich won nearly all of the delegates in South Carolina's Republican presidential primary Saturday, narrowing Mitt Romney's lead in the race for delegates to the party's national convention this summer.
Mitt Romney may be the front-runner for the GOP nomination for president, but he has yet to win over most of the national party leaders whose help he will need to defeat President Barack Obama in November.
The tax plan by Republican presidential candidate Rick Santorum would cut taxes for most Americans while swelling the federal budget deficit by $900 billion in a single year, according to an independent study.
Many of Mitt Romney's presidential challengers are having trouble fulfilling a fundamental requirement of running for public office: getting on the ballot.
Republican Mitt Romney's tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich, according to an independent study released Thursday.
Republican Mitt Romney won most of the delegates in the New Hampshire primary Tuesday, adding to his overall lead in the race for delegates to the party's national convention this summer.
Look out for some wacky results in the race for delegates in the Republican presidential primaries and caucuses. There might even be a state or two where the second-place candidate gets the most delegates, starting with Tuesday's caucuses in Iowa.
The tax plan by GOP presidential hopeful Newt Gingrich would provide big tax breaks to the rich and blow a huge hole in the federal budget deficit, according to an independent study released Monday.
A long-running war between Democrats and Republicans over Bush-era tax cuts doomed the debt supercommittee's chances of reaching a deal. Efforts to overhaul the tax code may await the same fate as both parties gear up to make taxes a central issue in the 2012 elections.
A long-running war between Democrats and Republicans over Bush-era tax cuts doomed the debt supercommittee's chances of reaching a deal. Efforts to overhaul the tax code may await the same fate as both parties gear up to make taxes a central issue in 2012 elections.
Millions of taxpayers who take advantage of deductions for mortgage interest, charitable donations and state and local taxes would be targeted for potential tax hikes under a GOP plan to raise taxes by $290 billion over the next decade to help reduce the nation's deficit.
A GOP plan to raise taxes by $290 billion over the next decade would limit deductions for mortgage interest, charitable donations and state and local taxes as part of a deficit-reduction deal. Some workers could also see their employer-provided health benefits taxed for the first time, though aides cautioned that the plan is still fluid.
Just as 55 million Social Security recipients are about to get their first benefit increase in three years, Congress is looking at reducing future raises by adopting a new measure of inflation that also would increase taxes for most families — the biggest impact falling on those with low incomes.
Her motives and personal history under scrutiny, the woman who publicly has accused Republican presidential candidate Herman Cain of groping her inside a parked car in July 1997 says she came forward out of duty.
The flat tax is making a comeback among Republican presidential candidates. But it faces tough opposition in Congress because it tends to favor the rich at the expense of other taxpayers, renewing an old debate about "trickle-down economics."
That didn't last long. About 55 million Social Security recipients will get their first increase in benefits next year since 2009 — a 3.6 percent raise. But higher Medicare premiums could erase part of it.
After two years without an increase in benefits, 55 million Social Security recipients will finally get a raise next year.
Some 55 million Social Security recipients will get a 3.6 percent increase in benefits next year, their first raise since 2009, the government announced Wednesday.
Some 55 million Social Security recipients will get a 3.6 percent increase in benefits next year, their first raise since 2009.
Herman Cain's 9-9-9 tax plan would raise taxes on 84 percent of U.S. households, according to an independent analysis released Tuesday, contradicting claims by the Republican presidential candidate that most Americans would see a tax cut.
Social Security recipients will get a raise in January — their first increase in benefits since 2009. It's expected to be about 3.5 percent.
Don't look for a quick winner in the race for the Republican presidential nomination. After watching Democrats successfully ride their historic primary battle between Hillary Rodham Clinton and Barack Obama all the way to the White House in 2008, the Republicans quietly adopted a new rule designed to extend their nominating process this time around.
The Republican co-chairman of the deficit-fighting "supercommittee" said Thursday he wants to tackle corporate tax reform, a theme the White House has promoted for months. But big differences remain, including on the sticky issue of whether changes should lead to higher overall taxes on businesses.
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