Congressional Research Service: Tax Cuts For Wealthy Doesn't Boost Economy
Congress' nonpartisan policy analyst may have just shot a huge hole in the battle over taxes between President Barack Obama and his Republican challenger Mitt Romney.
Watch CBS News
Congress' nonpartisan policy analyst may have just shot a huge hole in the battle over taxes between President Barack Obama and his Republican challenger Mitt Romney.
The Federal Reserve says it will spend $40 billion a month to purchase mortgage-backed securities because the economy is too weak to reduce high unemployment.
If you have been hiding under a rock, you many not realize that Apple is set to unveil the new iPhone 5 Wednesday. But here's the wild thing: it's not just a new product, the iPhone may boost the entire U.S. economy.
Republicans will continue to talk down the economy for the next two months specifically because they want the economy, and the country, to suffer in order to win an election.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
President Barack Obama came off a widely-lauded Democratic National Convention Friday with a stark reminder of just how far the country has to go to recover from the deepest recession since the Great Depression of the 1930's.
The U.S. economy only added 96,000 jobs in August, according to the Bureau of Labor Statistics, but those numbers were less than the more than 100,000 economists were expecting.
Commonly referred to as "what goes around, comes around', the Republicans are finding plenty to take shots at as the Democrats conduct their week in the 'often dubious' political spotlight called "the Convention".
Tonight, when Vice President Biden and President Obama address the country the question before them is an obvious one: are we better off than we were four years ago? The answer is equally obvious: YES!
Sitting in the Time Warner Cable Arena last night I was struck by how different the Democratic National Convention was from the Republican event last week. Unlike the Republicans in Tampa, Democrats focused on the fight to preserve the middle class and the American Dream.
What does it take these days to be in the middle class?
Mitt Romney's economic plan basically says if you make $22.50 an hour with benefits, you make too much money; and if you make $22.5 million, then you pay too much in taxes.
Instead of getting rowdy at a demonstration or protest regarding the lack of jobs throughout the country, people can voice their discontent with the nation's current unemployment rate on this Labor Day by simply placing an empty chair in their front yard.
When it comes to the economy, Floridians remain reasonably optimistic despite possible setbacks that are on the horizon.
The White House Press Corps members finally got the White House Press Conference they've been shouting for. And they only have themselves to blame for letting Obama turn much of it into a campaign speech by the questions they did and didn't ask.
Strong economies, especially in Latin America, led overseas tourists to flock to Florida in recent months.
If you know you're not going to blindly support the "left" in this coming election, see the movie '2016: Obama's America'. But, fair warning, it's disturbing – and quite frightening – to say the least.
Paul Ryan has changed the Electoral College math. With the pick, Romney has chosen a path that writes off almost all of the country and focuses the election on the industrial Midwest.
After months of failing to find a way to gain ground in the presidential campaign, Mitt Romney has hit the reset button by picking Paul Ryan as his running mate, but once the dust has settled and the Conventions are over, it is hard to see how Romney will have changed the direction of the 2012 presidential campaign.
Many who supported Obama in 2008 did so because they believed that he would help black Americans. The criticism four years later is that having a black president in the White House hasn't helped African Americans at all.
President Barack Obama is facing stats that historically would favor a challenger over an incumbent. But poll after poll, including Wednesday's Reuters/Ipsos poll is finding that despite misgivings over the direction of the country; Obama is still leading his Republican challenger Mitt Romney.
The blatant lies and the desperate spins generated from the "left" have been absolutely frightening. What's extremely sad for them is that they don't have a prayer of keeping the White House without creating lies and spinning obvious negatives into self-reported positives.
The U.S. economy continued to trudge through a difficult fiscal quarter as the economy created 163,000 private-sector jobs in July. The number was the best since February, but the economy's job creation pace is essentially flat since 2011.
Fresh off a non-partisan study that hammered Republican Mitt Romney's tax proposal as being disproportionately harsh on lower and middle income workers; President Barack Obama will be in Orlando Thursday to continue hammering a similar message.
South Florida got some disappointing jobs news Friday with the release of the statewide unemployment report, with Broward seeing an increase in the jobless rate while Miami-Dade was virtually stalled. Statewide, the unemployment rate was unchanged for the second month in a row.
According to Miami Police, Wells was outside his restaurant playing dominoes on Friday night when someone came up and shot him. He was rushed to the Ryder Trauma Center at Jackson Memorial Hospital, where he died. Police are still searching for the suspect.
Crucial for marine life and the global economy, coral reefs are the planet's first major environmental system to cross a climate "tipping point" as the world warms.
Animal advocates told CBS News Miami that they're glad it's gone and may be torn down.
Herbert escaped the Dolphins' pass rush and connected with McConkey for a 42-yard catch-and-run in the final minute.
Mark Sanchez was hospitalized with multiple stab wounds following the altercation on Oct. 4. He was then charged with battery involving serious bodily injury, a felony.
According to Miami Police, Wells was outside his restaurant playing dominoes on Friday night when someone came up and shot him. He was rushed to the Ryder Trauma Center at Jackson Memorial Hospital, where he died. Police are still searching for the suspect.
Crucial for marine life and the global economy, coral reefs are the planet's first major environmental system to cross a climate "tipping point" as the world warms.
Animal advocates told CBS News Miami that they're glad it's gone and may be torn down.
Herbert escaped the Dolphins' pass rush and connected with McConkey for a 42-yard catch-and-run in the final minute.
Mark Sanchez was hospitalized with multiple stab wounds following the altercation on Oct. 4. He was then charged with battery involving serious bodily injury, a felony.
A former prison guard trainee has been sentenced to death for the 2019 execution-style killings of five women inside a Florida bank.
Florida coach Billy Napier is getting a fourth season to try to get the Gators back to their winning ways.
A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The American Automobile Association said this is a dangerous time of year for young drivers.
Democratic leaders in Congress have pushed for serious negotiations with Republican leaders and the White House to end the stalemate.
The Defense Department announced earlier this week that about 200 National Guard soldiers from Texas and another 300 from Illinois were federalized and sent to the Chicago area.
The Ukrainian leader wrote in a social media post that if a war can be stopped in one region, "surely other wars can be stopped as well."
Former President Joe Biden is undergoing radiation therapy and hormone treatment amid his ongoing treatment for prostate cancer, a spokesperson said.
Venezuelans in the U.S. are welcoming the news that opposition leader leader Maria Corina Machado won the Nobel Peace Price.
Jim DeFede goes one-on-one with Broward County Commissioner Steven Geller about the allegations by DeSantis's DOGE committee that there is waste, fraud and abuse in Broward County.
Jim DeFede goes one-on-one with State Representative Vicki Lopez, who chairs a committee examining changes to the property tax system that will likely appear on the 2026 ballot.
Jim DeFede goes one-on-one with Rep. Debbie Wasserman Schultz on the partial government shutdown.
Jim DeFede goes one-on-one with historian Marvin Dunn about the controversy surrounding the plan to build the Trump Presidential Library next to the Freedom Tower in Downtown Miami.
Jim DeFede goes one-on-one with Karla Hernandez-Mats, former president of the United Teachers of Dade, who is now the President of Educated We Stand.
Resident Frances Martin was there Friday and five years ago when Gov. Ron DeSantis came to John Knox to unveil the 'new' COVID vaccine.
The Coral Gables resident, who owned a real estate management company, rarely talked about the disease that would take his life.
CBS News Miami was proud to participate in the annual event, where anchor Lauren Pastrana was the emcee of the walk.
Pfizer is the first of many drug makers President Trump claimed has agreed to offer steep drug discounts to all Americans through TrumpRx, in line with the lowest prices paid by Europeans.
President Trump's announcement this week about an alleged link between Tylenol and autism has drawn pushback from medical experts.
These gifts from Stanley, Apple, AllTrails and more won't bust your budget.
From top-rated smart mugs to cold brew starter kits, we've rounded up the coffee lover presents to gift this Christmas.
Just in time for the holiday season, Nintendo has released Nintendo Switch bundles and special editions.
For that authentic grilling experience, you can't beat a charcoal grill. We've rounded up the best grill options.
Discover the best tech gifts during the 2024 holiday season that your friends and loved ones will absolutely adore.
The company said Tuesday that 85% of its retail products and "nearly all" of its school offerings are already made without "certified colors."
Less than two days after Delta Air Lines offered $30,000 to each passenger on board the flight that crashed and flipped in Toronto on Monday afternoon, the company is facing its first two lawsuits in the incident — and they likely won't be the last.
Activists are calling for a nationwide boycott of Target stores following the company's decision to roll back its diversity, equity and inclusion initiatives.
Discount store chain Target says it's joining rival Walmart and a number of other prominent American brands in scaling back corporate diversity, equity and inclusion initiatives.
Miami-Dade is considering four possible sites, including two that are 2 miles or less from the city of Miramar.
Diane Keaton had a decades-long career with performances in 1977's "Annie Hall," the "The Godfather" films, and many more.
The owners and operators of independent cinemas are working to adapt as audience habits change.
Miami Police told CBS News Miami that the person was ejected from the venue, but it remains unclear whether they were arrested or will be facing any charges.
Kendrick Lamar and Drake have been beefing for years, with the two rappers releasing several diss tracks about one another.
Dolly Parton's spokesperson told CBS News that she was filming the video to address fans' concerns.