Politics News
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President Barack Obama’s budget outlines his ideas for how the government may spend $3.8 trillion in fiscal 2013. There’s no similar document accounting for where taxpayers’ money actually goes.
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President Barack Obama’s budget plan calls for taxing dividends received by high-income taxpayers as ordinary income, raising the top rate to 39.6 percent from 15 percent as part of a $1.4 trillion tax increase on top earners over the next decade.
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Chinese heir-apparent Xi Jinping’s trip to the U.S. this week will focus on building relations with local officials clamoring for investment and export markets, expanding a second front for bilateral ties as anti-China rhetoric rises in Washington and on the campaign trail.
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White House Chief of Staff Jack Lew said hundreds of billions of dollars in spending for roads and bridges, education and manufacturing are necessary to keep the U.S. economy growing.
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