Page 5 - Dan Ettinger News Today

Senator bob casey has his way, you could soon be on the hook for poorly managed union pension plans. the democrat is gathering support for his create jobs and save benefits act. a bill that would transfer tens of billions of dollars worth of retiree liabilities to the pension benefit guarantee corporation backed by, you guessed it, u.s. taxpayers. the total tab could reach tens of billions of dollars. wall street journal columnist and dewpoint editor dan ettinger join us and mary ogrady and wash...

say they could get worse next year. economist art laffer says the threat of a double dip recession is real. he joins me now from nashville. good to have you back on the program. >> thank you, pall, its a pleasu pleasure. >> kelly: . >> paul: youre typically an optimist. >> yes, i am. >> paul: why the doom and gloom now? >> well, president obama has, you know, when he took office, did not repeal bushs tax cuts, but let them expire which means on january 1st, 2011 tax increases estate ta...

Radicalize the republican party, but again, i think the obama administration has radicalized the republican party. >> paul: hes going to hold the seat in utah? >> probably, utah is a pretty conservative state whachlt about kentucky, dan, the race where son the ron paul who ran in 2008. an ophthalmologist, running against the candidate as secretary of state. democrats will probably say that were elated that rand paul, a big favorite of the tea partiers, they think we can beat him. >> what theyre ...

Wisdom is the tea party has radicalize the republican party, but again, i think the obama administration has radicalized the republican party. >> paul: hes going to hold the seat in utah? >> probably, utah is a pretty conservative state whachlt about kentucky, dan, the race where son the ron paul who ran in 2008. an ophthalmologist, running against the candidate as secretary of state. democrats will probably say that were elated that rand paul, a big favorite of the tea partiers, they think we c...

Virginia congressman alan monahan lost a bid and primary defeat on tuesday, the loss days after the republican senator bob bennett of utah was knocked off the november ballot in the convention. and how toxic it is, this tuesday when democratic senators arlen specter of pennsylvania and blanch lincoln of arkansas attempt to fend off primary challenges of their own. joining the panel, wall street columnies, dan ettinger, jason riley, opinion journal.com editor, james. and dan, weve got an incumben...

incumbents in washington, a study by the nonpartisan pew research center finds by almost every measure, americans are growing more disenchanted with the federal government and its elected officials. just 22% of those polled said they can trust the federal government almost always or most of the time. among the lowest measures pew has found in half a century. only a quarter of americans have a favorable view of congress. and just 27% want to see most members reelected. about the same le...

Liability, youre already in the state constitution and they have to face that and i think theyre going to have to force state workers to start to accept benefits that are closer to what the private sector are. >> stuart, another thing the states have to do, raise the retirement agent. youve got situations in ohio where teachers making $100,000 a year can retire at 54 and they can retire and rehire and collect a paycheck at the same time theyre collecting a $80,000 pension. this is bankrupting st...

Ground zero, youre right. in los angeles and all over the country are really facing this crisis. youve got a situation right now where many of the public employees who are retired are collecting 70, 80, $90,000 a year checks and some are getting over $100,000 and its not fair, stuart, for 50 to $60,000 a year construction workers or people working in the private sector who are earning much less who are having to pay these massive pensions for people who arent even working any longer. >> stuart: ...

Register and the next time you buy your new ipad, stuart, it means that rather than paying $700, its going to cost nearly $800. these are big increases in costs to the middle class at a time theyre having a tough time paying their bills already. >> here is the latest scenario, the deficit reduction commission recommends a sales action, a value-added tax, but it still has to go to a vote in the congress. dan, james, you dont think it would pass in the congress? no? >> no, i mean, you know, here w...

If you think youre paying a lot now, wait until next year, taxes are going up just not for the rich. with a primer on the increases, tax dean, columnist and editor dan ettinger and assistant editor, james freeman and senior economics writer steve moore. steve, aim going to start with you. which taxes are going up january 1st and who pays them? >> well, hey, stuart i have to confess im a procrastinator, i havent done my taxes yet. if you think its worse this year, youre right, its worse next year...