State of the Union Early Bird for September 18, 2011
September 18th, 2011
04:45 AM ET
3 years ago

State of the Union Early Bird for September 18, 2011

(CNN)-It's early, and State of the Union is bringing you the best of the morning headlines to go with your cup of coffee.

On our radar this morning:  President Obama's new tax plan for millionaires.

Check out what we're reading, and be sure to watch the show today at 9am/12pm ET.

PRESIDENT OBAMA

Obama Tax Plan Would Ask More of Millionaires

President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials. Mr. Obama, in a bit of political salesmanship, will call his proposal the “Buffett Rule,” in a reference to Warren E. Buffett, the billionaire investor who has complained repeatedly that the richest Americans generally pay a smaller share of their income in federal taxes than do middle-income workers, because investment gains are taxed at a lower rate than wages.

White House pushes back against Suskind book’s depiction of Obama and his staff

Administration officials assert that “Confidence Men: Wall Street, Washington, and the Education of a President” by Ron Suskind is infested with errors, both big (what they characterize as misquotations and distorted narratives) and small (several names, a birthdate, a publication date, an employer, an unemployment rate, etc.) and gives a distorted and inaccurate picture of the White House under Obama.

GE’s Immelt Says U.S. Must Trim Regulations to Spur Job Growth

THE ECONOMY

Ever-increasing tax breaks for U.S. families eclipse benefits for special interests

All told, federal taxpayers last year received $1.08 trillion in credits, deductions and other perks while paying $1.09 trillion in income taxes, according to government estimates.

Only about 8 percent of those benefits went to corporations. (The write-off for corporate jets equals about .03 percent of the total.) The bulk went to private households, primarily upper middle-class families that Obama has vowed to protect from new taxes.

2012

GOP presidential hopeful Ron Paul wins California straw poll

Paul won with 44.9% of the votes, Texas Gov. Rick Perry came in second with 29.3% of the votes, and former Massachusetts Gov. Mitt Romney came in third with 8.8% of the votes. The California Republican Party, associated members and registered guests were allowed to vote in the straw poll, according to the statement.

PALESTINE, ISRAEL, AND THE UN

For Obama, U.N. vote may have silver lining

For months, U.S. and Israeli diplomats worked to forestall a plan by the Palestinians to present their resolution to the Security Council. Now, however, with Obama facing restiveness among some Jewish supporters, the prospect of a veto comes at a politically useful moment.

Tumult of Arab Spring Prompts Worries in Washington

The bold vow on Friday by the Palestinian president, Mahmoud Abbas, to seek full membership at the United Nations amounted to a public rebuff of weeks of feverish American diplomacy. His vow came on top of a rapid and worrisome deterioration of relations between Egypt and Israel and between Israel and Turkey, the three countries that have been the strongest American allies in the region.

IN OTHER NEWS

Revolutionaries face fierce fight in Gadhafi's hometown

U.S. links Pakistan to group it blames for Kabul attack

 

Thanks for reading!

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soundoff (3 Responses)
  1. AlaskaPalin

    If you throw enough garbage into your neighbors yard- eventually others will start fault her for the dirt and stench. That's what mcguiniss did to palin. He has effectively ended any hope she has of bidding for the presidency. If she sues it might just make matters worst. His book is more a reflection of who he is than what sarah did.

    September 18, 2011 08:16 am at 8:16 am |
  2. Little Jimmy Truth

    Why King Obama did do that?

    September 18, 2011 08:28 am at 8:28 am |
  3. Name king

    Hey the repugs war on consumer confidence is sending uncertainty rippling all through the economy. Their relentless great of cutting away consumer spending and jobs, has consumers holding on to the last dime they have because they don't know if they'll have a job tomorrow or not. The private sector depends on the stocks of the global markets. This is like playing poker because you cannot control other country's policies to keep up and not go under. The public sector are like government bonds to small businesses, small business are almost a hundred percent sure that they will get their regular government revenues from their public consumers. The repugs keep firing public workers are destroying small business.

    September 18, 2011 08:49 am at 8:49 am |