New York (CNNMoney) – Millionaires would get a sizable tax cut if Rep. Paul Ryan's budget proposal were to become law.
Those with incomes exceeding $1 million would enjoy an average tax cut of more than $200,000, according to Citizens for Tax Justice, a left-leaning group. And it could be even bigger if Congress doesn't try to limit tax deductions, credits and preferences to offset the costs of the proposed tax cuts.FULL STORY
New York (CNNMoney.com) - Need a diamond pinky ring or a gold dog pin with ruby eyes?
They can be yours if you are the winning bidder in Rhode Island's unclaimed property auction on eBay. And you won't even have to pay for the shipping.
Rhode Island is the latest state to harness modern technology to turn forgotten loot into much-needed revenue. It is auctioning 100 items worth a little over $50,000 through mid-January.
As of Christmas eve, it reaped more than $22,000 on 30 pieces. That's about 108% of their estimated value.
The most popular: A 1980 gold South African Krugerrand, which pulled in 51 bids and sold for $1,275. The most expensive: An 18-karat Italian gold bracelet, which went for $1,869 and collected 50 bids.
NEW YORK (CNNMoney.com) – The nation's economy started to turn around after the passage of President Obama's $787 billion stimulus package in February, his chief economic adviser said Thursday.
The American Recovery and Reinvestment Act created or saved slightly more than 1 million jobs through August, according to the president's Council of Economic Advisers.
The stimulus plan also boosted the nation's gross domestic product by 2.3 percentage points in the second quarter, the council said in its first quarterly stimulus report to Congress.
"Following implementation of ARRA, the trajectory of the economy changed materially toward moderating output decline and job loss," the council said.