WASHINGTON (Reuters) - Divisions among Democrats are undermining President Barack Obama's push to raise the U.S. estate tax on inherited wealth, just weeks before the arrival of the "fiscal cliff" could drive the present estate tax rate even higher than Obama proposes.Action on the estate tax could be postponed. But in his successful re-election campaign, Obama called for wealthy Americans to pay...
Canadian year-to-date budget deficit narrows in September
Labels: Business Canada's federal budget deficit dropped in the first six months of the fiscal year, falling to C$8.9 billion ($9.0 billion) in April to September from a C$11.8 billion shortfall in the same period of last year, the Department of Finance said on Friday.The monthly deficit in September fell slightly to C$2.69 billion from C$2.75 billion in September 2011.Revenues in the first six months of the...
Number of ND 'income millionaires' jumps by 102
Labels: BusinessA record number of North Dakotans reported seven-figure incomes last year, many of whom are benefiting from the state's oil bonanza, the state Tax Department says.Figures released to The Associated Press show a record 634 people reported incomes of more than $1 million on their 2011 individual tax returns, up from 532 in 2010 and 384 in 2009. In 2006, while North Dakota's oil boom was in its infancy,...
Obama says Republican "fiscal cliff" plan out of balance
Labels: BusinessPresident Barack Obama rejected a Republican proposal to resolve a looming fiscal crisis on Tuesday as "still out of balance" and insisted any deal must include a rise in income tax rates on the wealthiest Americans.Obama told Bloomberg Television that the Republicans' reliance on eliminating tax deductions instead of letting taxes rise on Americans making more than $250,000 a year would not raise...
Grocery giant Kroger wins $567 million tax fight
Labels: Business Kroger Co said Thursday it won a tax battle with the U.S. Internal Revenue Service, which has dropped an effort to collect $567 million in disputed deductions from the grocery giant.The U.S. Ninth Circuit Court of Appeals earlier this month dismissed the government's claims against Kroger, the Cincinnati-based company disclosed in a securities filing.The dismissal by a three-judge panel came...
Dec
27
Mark Cuban: Nokia Lumia 920 ‘crushes’ the iPhone 5
Labels: TechnologyIn the eyes of outspoken entrepreneur Mark Cuban, the battle for smartphone supremacy has been fought and won… by Nokia (NOK). While hosting an AMA session on Reddit — a series of posts where the original poster instructs Reddit users to “Ask Me Anything” — Cuban, who famously sold Broadcast.com to Yahoo (YHOO) for around $5 billion at the height of the dot-com boom, was asked what kind of laptop...
If Santa Were a Hipster
Labels: TechnologyShot like a twee Wes Anderson movie, Fourgrounds Media reimagines Santa as a black-bearded dude who looks more like he's from Williamsburg than the North Pole. This Santa plays Radiohead on his ukulele, is into both vinyl and Instagram, smoking and veganism. His idea of a good gift for a child is an iPod loaded with Arcade Fire selections and, of course, he keeps his tunes list in the cloud.[More...
The Problem With Windows 8
Labels: TechnologyWe now know what we've suspected for months: Windows 8 isn't selling very well. We've seen the pattern since Microsoft's big launch event in late October -- the mixed reviews, the cautionary words from hardware manufacturers, the desperate fast-tracking of plans to expand the retail availability of the Surface -- but now we've got numbers.[More from Mashable: How to Track Santa on Christmas Eve in...
Samsung expects to ship more than half a billion phones in 2013
Labels: TechnologySamsung (005930) had a big year and despite some legal setbacks, the company saw record profits led by its mobile division. In 2012, Samsung became the world’s largest cell phone vendor with shipments estimated to have reached about 420 million units. According to the Korea Times, the company expects to ship 510 million phones in 2013, an increase of 20% over this year. More than half, or 390 million,...
Review: Making Facebook a warmer, smaller space
Labels: Technology A woman I haven't spoken to in six years is pregnant with her second son. Another college acquaintance reads the Bible a lot. A high school classmate likes to rant about politics. A college dormmate thinks he works too much.On Facebook, I'm connected to a lot of people who are not my friends. Over the years, as my Facebook friend list grows, it's made me increasingly uncomfortable that I seem...
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