Jul 16, 2012, 11:27 am EDT
Here’s more proof that this election will almost certainly be impacted by the rise of the super PAC. The Mitt Romney-supporting super PAC Restore Our Future set a record for super PAC fundraising by pulling in $20 million in June.
The $20 million haul was more than four times what it brought in for May and more than three times what Barack Obama’s super PAC, Priorities USA Action, raised in June. It is also twice the amount that Restore Our Future had raised in any other month.
It appears that at least some of this record-breaking amount comes from casino magnate Sheldon Adelson, who announced a $10 million donation to Restore Our Future in June. Reports filed by Romney’s super PAC did not say how much of that $20 million came from Adelson’s donation, though. Read
Jul 16, 2012, 10:00 am EDT
Looking to make the transition from an economy based on fossil fuels, renewable energy businesses across the value and supply chain have benefited from state and federal government subsidies, support and incentives.
State renewable power/portfolio standards (RPS), which have been enacted in 37 states to date, have been critical to the near-doubling of U.S. renewable energy capacity since 2008, along with the creation of hundreds of thousands of jobs.
While the Obama administration has set U.S. energy policy firmly on the renewable path, the federal government — more precisely, a bitterly divided Congress — has relied primarily on tax incentives in the form of investment and production tax credits (ITCs and PTCs) to foster growth and development of the U.S. clean-energy economy. Read
Jul 16, 2012, 9:16 am EDT
One of the most contentious parts of the Bush Tax Cuts was the 2003 provision to slash the maximum statutory rate on dividends from 38% to 15%. That controversy still rages today, of course, even though a 2007 Federal Reserve paper argues that the effects of the cuts were modest at best.
“We fail to find much, if any, imprint of the dividend tax cut news on the value of the aggregate stock market,” according to the paper. “Second, there appeared to have been modest but seemingly short-lived cross-sectional effects on stock valuations.”
Yet, the debate over dividend taxes won’t stop. The top rate on dividends will surge nearly 190% to 43.4%, if the Bush tax cuts are allowed to expire at the end of the year and a separate increase allowed under Obama care kicks in. The effects of such an increase would be devastating, according to the Alliance for Savings & Investment. Read
Jul 13, 2012, 5:28 pm EDT
Identity theft scammers have led thousands of Americans to believe in the existence of a federal program that will pay their utility bills. Don’t fall for it.
The crafty criminals have been knocking on doors and ringing phones across the country asking folks to sign up for the program by submitting personal information including their Social Security numbers, MSNBC reports. In exchange for the information, the fraud victims are given phony bank account and routing numbers they’re told to use to pay their bills online.
The scam is spreading like wildfire. Fraudsters are contacting victims via phone calls, personal visits and the Internet. Snopes.com has listed several scripts used in some of the schemes. Read
Jul 12, 2012, 3:30 pm EDT
Those hoping that the passage of a bipartisan transportation and student loan bill signaled a shift away from partisan bickering in Congress, prepare to be disappointed.
Senate Majority Leader Harry Reid, D-Nev., indicated Tuesday that he does not believe the Senate will move forward on any more spending bills this year.
What’s the hold-up? Reid blames House Republicans and a difference in opinion over the total level of spending the government should engage in. Democrats want to stick with a $1.047 trillion level that was set by last year’s Budget Control Act, while Republicans want a $1.028 trillion budget for the coming year. Read
Jul 11, 2012, 5:28 pm EDT
Researchers at Engage have crunched the data and found out something interesting about the web sites people “like” on Facebook (NASDAQ:FB): knowing what sites a person likes gives them a clue about their political affiliation.
By using a special piece of software, Engage was able to track thousands of users’ Likes, political affiliation, and behavior — whether or not a person showed a high or low level of political engagement.
What are some of the things they’ve discovered? Read