How We Averted the Fiscal Cliff: As a CPA, People Might Expect You To Know This Crap
I don’t care if you’re a Republican or a Democrat; you’re an accountant, and the avert-the-fiscal-cliff legislation that the federal government crapped out at the last minute hooks you up. Sure, you’re going to pay more in taxes, but Congress was actually able to bang out some long-term solutions to the expiring tax cuts which is going to make your life easier1.
Mitch McConnell Suggests That Anyone in Favor of Tax Hikes Is Committing Political Suicide
Hours before a meeting with President Obama at the White House, Senate Majority Leader Mitch McConnell (R-Ky.) said that any debt-ceiling deals that included tax hikes would be “politically impossible” in the current Congress because most Republicans and many Democrats oppose them.
“Those who are calling for tax hikes as a part of these debt discussions either have amnesia about the fate of similar votes just six months ago — when Democrats controlled both chambers of Congress as well as the White House — or they’re acting in bad faith, since we all know that including massive, job-killing tax hikes would be a poison pill,” said McConnell on Monday from the Senate floor. [The Hill]
Accounting News Roundup: More on PwC Re-Branding and the Firm’s Bet on China; What Would Mitch McConnell’s Government Look Like? | 09.17.10
Warren vows end to “tricks” with consumer agency [Reuters]
“Wall Street critic Elizabeth Warren said on Friday she accepted the job of setting up a consumer financial protection agency for U.S. President Barack Obama and declared that the time for financial ‘tricks and traps’ was over.
Obama was expected to announce his appointment of Warren, a Harvard University professor and hero to liberal activists, at 1:30 pm EDT, taking a step forward in enacting the financial reform that is a signature achievement of his presidency.”