News
Politico | Republicans shift away from tax cutting mania
Though still low by historical standards, that’s the highest since the Reagan administration. Republicans once argued that allowing the increase would wreak havoc on the economy, but lawmakers say their constituents are now more focused on issues like the battle against Islamic militants in Syria.
WSJ | Fed Questions Bank Maneuver to Reduce Hedge Funds' Dividend Taxes
Large banks generate more than $1 billion a year in revenue by helping hedge funds and other clients reduce taxes through a complicated trading strategy that has drawn criticism from U.S. authorities.
Blogs
WSJ: Real Time Economics | One Good Sign the Economy Is Staying Strong: Your Payroll Tax Withholdings
One gauge of economic activity goes all the way through this week: payroll tax withholdings. Every day the U.S. Treasury reports the amount of revenue received from withholdings. This creates a handy, real-time gauge of the economy because the tax payment is typically collected from each paycheck. When people get raises, payroll-tax revenue rises the moment an increase goes into effect.
