If Congress wants to extend the payroll tax cut beyond Feb. 29 without adding to the national debt, it has to cut somewhere else, raise fees or find other tax money.
After Republican Sen. Mitch McConnell suggests Warren Buffett give his fortune to the U.S. Treasury, the billionaire pledges to match Republican contributions.
Analysis of plan says the rich would see taxes cut 15% and the middle class would see taxes fall 2.2%. The plan would increase the deficit, something the GOP candidate disputes.
GOP candidate wants to cut tax rates and increase exemptions for children, plus cut domestic spending. But his budget cuts wouldn't replace nearly all the lost revenue.
Both parties want to extend the Social Security tax cut, but they disagree sharply over how to pay for it. Plus, politics is at play in dictating what discussions to have when.
The White House turns to social media to make its case for the payroll tax extension. For a taxpayer making $50,000 a year, it means about $40 per 2-week pay period.
Democrats hope refusal to extend the tax cut will show the Republicans favor the rich. GOP argues that the public will see the two-month extension as a gimmick and blame the Dems.
A new poll finds support for continuing the payroll tax cut and deep discontent with Congress. More voters favor service cuts over tax increases.
VIDEO ON MSN MONEY
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.
TOP STOCKS
Try as the bears might, they couldn't break U.S. stocks. But investors still face frothy prices and considerable headwinds.
MARKET DISPATCHES
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
FRUGAL COOL
Starting Monday, this site is joining forces with MSN Money Smart Spending. Here's why.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
SMART SPENDING
A new federal safety report shows toddlers and minority children make up a disproportionate number of drowning victims.
SMART TAXES
The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.
