Treasury Weighing Tax Cuts On Overseas Profits Of U.S. Companies

" The Treasury is weighing a proposal to eliminate some, but not all, of the taxes on overseas profits of U.S.-based companies, the Wall Street Journal reported on Saturday, citing two people familiar with the deliberations. Eliminating the taxes on some of the profits is...

'Wells Fargo Ruling' May Be Illegal

The US Treasury, under cover of the uproar over the Wall Street Bailout, issued a notice in which it claimed authority to overturn Section 382 of the Tax Code, a two-decade old law created to stop mega-conglomerates from using shell companies to hide losses and avoid taxes....

Taxpayers’ Plight Highlighted in Rescue Coverage

Throughout the morning, Fox News Channel — and at least one Minnesota affiliate — featured coverage of workers struggling to rescue a worker trapped by a cave-in at an Eden Prairie, Minn., construction site. After watching several updates, I began to see Fox’s video...