It's the economy

Posted: Tuesday, October 31, 2006 9:02 AM by Mark Murray
Filed Under: Economy

"November marks the five-year anniversary of the end of the last recession and the beginning of the latest U.S. economic expansion," notes USA Today. "But whether the USA will have another five years of economic growth without sliding into recession - at least matching the record 10-year expansion that ended in 2001 - is an issue that sharply divides economists."

Gas prices are up slightly this week for the first time since early August.

Bloomberg points out that almost nowhere do candidates seem to be talking about the looming alternative minimum tax problem, which will "hit more than 20 million households next year, some with incomes as low as $50,000... Most candidates are avoiding the subject because the cost of stopping the tax increase would obstruct key elements of their agendas... Those candidates who do mention the minimum tax offer few specifics for fixing it."

The Financial Times notices that as New York Attorney General Eliot Spitzer (D) cruises to the governorship, "[n]ot a single big business group has come out against Mr Spitzer, and some, especially in New York’s job-starved northern regions, have endorsed him. Even the financial services industry, which was the target of the Democratic attorney-general’s highest-profile investigations, is largely sitting on its hands."

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Comments

the alternative tax is getting ready to decimate the middle class. demand your elected representative do something.. how about eliminate taxes on the first $50,000 of workers incomes and make health care and college tuition tax deductable???

mikeeg,abdn,wa (Sent Tuesday, October 31, 2006 9:51 AM)

What's this about "the looming minimum tax"? Can someone enlighten me on this please?

scott carlson, winona mn (Sent Tuesday, October 31, 2006 9:51 AM)

Bloomburg Blog: Interested in learning more about this " alternative minimum tax" increase. Where can I go to learn more on the subject? Thank you.

Sue (Sent Tuesday, October 31, 2006 10:05 AM)

I guess if your income is lower than 50 grand a year, you don't show up on any politicians' radar, or Bloombergs, for that matter. I'm surprised they let people with that paltry sum even vote. Of course, that might be subject to change.

Steve Turner Cedar Fals Iowa (Sent Tuesday, October 31, 2006 10:40 AM)

If our current crew remain in charge OR if the new bunch ignores this....then it'll be "hold on middle classers, we are gonna get it where it hurts-again...see you at the bottom..."

Owen Vander, Evansville, IN (Sent Tuesday, October 31, 2006 10:53 AM)

to those who want to know about the alternative minimum tax, where have you been, this is old news? but if you want to know more you should contact your elected representative and demand that they explain it and if they are for it. if you dont like what you hear tell your elected official in no uncertain terms that you expect them to do something.

mikeeg,abdn,wa (Sent Tuesday, October 31, 2006 11:06 AM)

Just read on msnbc news that wages and benefits for u.s. workers grew at a fantastic pace, according to the u.s. labor dept. Funny myself and everyone I know, and all that I read on these blogs, point to a different conclusion. If this is a report from the Bush government, that comes out just a week before the election, then what else would you expect from this corrupt government? Please don't insult us with these phony reports, whats next? a government report that all is going well in Iraq?

beaverdambob, Mesquite, nevada (Sent Tuesday, October 31, 2006 2:31 PM)

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