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Tea party group seeks to oust 'crony' Immelt
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Newspaper Article

Tea party group seeks to oust 'crony' Immelt

BY Stephanie Kirchgaessner

A prominent Republican Tea Party activist has launched a campaign to oust Jeffrey Immelt, the chief executive of General Electric, from his appointment as head of a new advisory panel to President Barack Obama on jobs and competitiveness.The populist campaign underlines the deep divisions between traditional Republicans, who have been stalwart supporters of big industrial giants such as GE, and the ultra- conservative Tea Party movement, which views big corporations with as much suspicion as it does “big government”.

02/02/2011
US Homeowner Bail-Out Hits Resistance
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Newspaper Article

US Homeowner Bail-Out Hits Resistance

BY Chris Bryant and James Politi

The agreement in the US Senate on Thursday to create new bipartisan housing legislation reflects intensifying pressure in Congress to tackle the mortgage crisis. Despite the emerging consensus across party lines in favour of more government intervention in the housing market, the final shape of the bill has been influenced by a curious coalition opposed to a state rescue for mortgage borrowers.

04/03/2008
Bush's tax panel calls for sweeping reforms
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Newspaper Article

Bush's tax panel calls for sweeping reforms

BY Christopher Swann

With his second-term domestic agenda stalled, President George W. Bush has been casting about for new initiatives. The panel he appointed to recommend simplifying the labyrinthine US tax code handed him a huge one on Tuesday, recommending sweeping changes to the US taxation system.

10/18/2005
No Question: US Needs This Tax Cut
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No Question: US Needs This Tax Cut

BY Mr John J. Castellani and Mr Paul Beckner

From Mr John J. Castellani and Mr Paul Beckner. Sir, Alan Beattie's report "Dividend tax cut plan faces hurdle in Congress" (February 6) falls short of examining the benefits of President George W. Bush's proposal to eliminate the double taxation of dividends for American taxpayers. There is no question that the US needs tax relief to expand the economy at a rate sufficient to create new jobs and reignite consumer demand. From business headquarters to family kitchens, Americans watch with growing concern as the world's most resilient economy struggles to achieve its potential and people grow more anxious about their own economic well-being. A recent study by The Business Roundtable (BRT) demonstrates that the dividend component of the president's plan will have the single most positive impact on our nation's economic growth - increasing the number of jobs by an average of 500,000 a year for the next five years. PwC, using the highly respected Inforum LIFT model at the University of Maryland, conducted the BRT's study on the impact of the economic growth proposal. Specifically, the BRT study shows that over the next five years, the dividend component contributes half of the proposal's resulting growth in both jobs and gross domestic product. It puts money into the pockets of shareholders from all income levels by reducing the taxes they pay on dividends and by increasing the dividends that corporations pay out by an estimated 4 per cent. These benefits are multiplied further when shareholders start to use this additional money to buy more goods and services, driving up demand for products and leading producers to step up their hiring and capital spending to meet the rising consumer demand. Repealing the dividend tax will not only increase jobs; it will also make savings and investment more attractive and bolster stock prices and investor confidence. Most Americans know that it is unfair to tax the same profits twice. The president's comprehensive economic growth proposal - including the elimination of the double taxation of dividends for individuals - is exactly what the US economy needs. It is the right approach to help spur consumer spending, create jobs and boost investor confidence.

01/11/2003