Tag Archives: Taxes

Tax The Wealthy or Reduce Jobs?

By Andrew Busch | Published: August 5, 2010

With Congress set to debate extending the Bush tax cuts, there are risks to small business from raising taxes on the “wealthy”.

US Treasury Secretary Tim Geithner gave a speech yesterday in Washington on the Obama administrations economic case for raising taxes on high earners.

He states, “….But given the size of the deficits and debt that we inherited, we must provide that tax relief in a fiscally responsible way. We believe the best way to do that is by allowing the tax rate for the top 2 percent to go back to levels seen at the end of the … …READ MORE

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Clash of the Trade Titans a Disappointing Sequel

By Andrew Busch | Published: April 5, 2010

As most know by now, the US Treasury Department has put off releasing their bi-annual currency manipulation report. As you may remember from the Bush administration, this behavior is nothing new.

First, a bit of background. With the help of the IMF, the Treasury is instructed to analyze and report by mid-April on who is unfairly manipulating their currency. The term manipulation is narrowly defined as “for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.”

When I was acting as an outside advisor to both US Treasury Secretary John Snow and Hank … …READ MORE

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What Obama Won't Say Tonight

By Andrew Busch | Published: December 1, 2009

Japan held an emergency policy meeting to announce an agreement between the government and ruling parties to include a new economic stimulus package in the second supplementary budget for fiscal 2009. The original plan was for Y2.7 trillion budget and now this will be expanded. They are doing this because the economy is sliding back into deflation and the stock market had declined 1700 pts since August (it jumped abt 500 pts on this news).

This begs, if not screams, the question: will it really help? It’s a lesson for the United States to learn that continuous government spending doesn’t … …READ MORE

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Ron Paul Day in the House

By Andrew Busch | Published: November 19, 2009

As part of the ongoing reconfiguring and reregulating of the American financial system, the House Financial Services Committee today will take up an amendment that seeks to audit Federal Reserve monetary policy. As so many things are backward in Congress, the vote today is actually a vote on a proposal to retain a ban on audits of Fed interest rate decisions. If it is voted down, then the Ron Paul bill to audit monetary policy could see the light of day.

The Paul bill has 300 cosponsors and clearly has struck a nerve in Congress. I’d go back to the … …READ MORE

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The Way Forward For Obama, Banks, and Taxes….

By Andrew Busch | Published: February 22, 2009

There are two developments over the weekend that investors and voters should be aware of for Monday. 

First, there remains confusion over exactly what Congress and the Obama administration are going to do over the financial sector of the United States.  There were rumors on Friday (and all of last week) that banks were going to be nationlized.  This promptly Obama spokesman Gibb to say late in the day that they believe banks should remain in private sector.  However, they had to do this because Sen. Dobb said that they may need to nationalize some banks at some point.  Today, … …READ MORE

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