Wednesday, January 27, 2010

The people of Oregon have spoken

There's been so many robo-phone calls, here in Polk County, that I find myself shouting back, just on a remote chance that I'm being called by a human bean. Needless to mention, it's a good feeling to see the tax burden where it belongs.

Oregon voters pass tax increasing measures by big margin

By Harry Esteve, The Oregonian
January 26, 2010, 10:17PM

Oregon voters bucked decades of anti-tax and anti-Salem sentiment Tuesday, raising taxes on corporations and the wealthy to prevent further erosion of public schools and other state services.

The tax measures passed easily, with late returns showing a 54 percent to 46 percent ratio. Measure 66 raises taxes on households with taxable income above $250,000, and Measure 67 sets higher minimum taxes on corporations and increases the tax rate on upper-level profits.

The results triggered waves of relief from educators and legislative leaders, who were facing an estimated $727 million shortfall in the current two-year budget if the measures failed.

Daddy Warbucks to answer for "back door bailouts"

Paulson, Geithner set to answer for AIG bailout

By The Associated Press January 27, 2010, 6:00AM

WASHINGTON -- A House panel investigating the bailout of American International Group Inc. is sharpening its questions for two Treasury secretaries and a federal investigator who believes the Federal Reserve withheld documents.

Rep. Edolphus Towns, D-N.Y., said Tuesday that former Treasury Secretary Henry Paulson will appear at today's hearing, along with current Treasury Secretary Timothy Geithner, Special Inspector General for the Troubled Asset Relief Program Neil Barofsky and officials from the Federal Reserve Bank of New York. Towns is chairman of the House Committee on Oversight and Government Reform.

The committee is pressing for details about deals that sent billions from AIG's bailout to big banks including Goldman Sachs Group Inc. Lawmakers want to know why the New York Fed pressed AIG to be more secretive about the "backdoor bailouts" and other aspects of AIG's management.

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