New inflation indicator that better measures the way consumers shift their purchases when prices rise. This is a technical adjustment that supporters of it and outside economists say is meant to make the governments estimates of inflation more accurate. Reporter that switch to a chained Consumer Price index would reduce future benefits for social security, and it would affect the way the i. R. S. Sets tax brackets, a move that would raise about 100 billion in new tax revenue over the next decade. Eventually, an average family would see its taxes rise by about 75. But tax analysts say the overall impact has to be weighed against other changes the president and Congress Plan to make. What youre also doing as part of this package is raising tax rates or at least allowing tax rates to go back where they were in the clinton years for high income people. That is quite progressive. This makes it just slightly less progressive, but on balance its not a bad package. Reporter but those tax rate
New inflation indicator that better measures the way consumers shift their purchases when prices rise. This is a technical adjustment that supporters of it and outside economists say is meant to make the governments estimates of inflation more accurate. Reporter that switch to a chained Consumer Price index would reduce future benefits for social security, and it would affect the way the i. R. S. Sets tax brackets, a move that would raise about 100 billion in new tax revenue over the next decade. Eventually, an average family would see its taxes rise by about 75. But tax analysts say the overall impact has to be weighed against other changes the president and Congress Plan to make. What youre also doing as part of this package is raising tax rates or at least allowing tax rates to go back where they were in the clinton years for high income people. That is quite progressive. This makes it just slightly less progressive, but on balance its not a bad package. Reporter but those tax rate
This is n. B. R. Susie good evening, everyone. Im susie gharib. Tom is off tonight. The white house knocks down House Speaker John Boehners backup plan to avoid the fiscal cliff. Well have details on his plan b. We get an insiders perspective on those talks from roger altman. He was a key adviser in the Clinton Administration and now, as head of Investment Firm evercore, hes plugged in to Corporate America and wall street. And are apples hotselling products cooling off . Is the competition winning over even apples loyal fans . That and more tonight on n. B. R. John boehner is pushing for his plan b. This is the latest twist in those crucial fiscal cliff negotiations. The House Speaker offered a backup plan today to avoid falling off the cliff. He promised to bring a bill to the house floor this week that would raise income tax rates for people earning more than 1 million a year and no new spending cuts, for now. The white house immediately rejected it. Darren gersh reports. Reporter Ho
Falling off the cliff. He promised to bring a bill to the house floor this week that would raise income tax rates for people earning more than 1 million a year and no new spending cuts, for now. The white house immediately rejected it. Darren gersh reports. Reporter House Speaker john boehner says the president is asking for about half a trillion dollars more in taxes than he is willing to cut from spending. That means the two sides have narrowed their differences, but the speaker says not enough progress has been made to call it a deal. So he is making other plans. Our plan b would protect american taxpayers who make a Million Dollars or less and have all of their current rates extended. Reporter while the speaker prepares his backup plan, the outlines of a grand bargain with the president are becoming clearer. Both sides look ready to adopt a new inflation indicator that better measures the way consumers shift their purchases when prices rise. This is a technical adjustment that supp
We did see record all day intraday highs. We also continue to follow, in addition to the major market averages, these three names came out. We are also watching dupont. Travelers has been to the downside. They did well with their secondquarter profit. We also have United Technologies. That is the third one we are continuing to follow very closely. Those are some hot stocks to watch in the Dow Jones Industrials. Adam thank you very much. Another bellwether name reporting today is ups. Customers chose cheaper and slower shipping options. Have customers given us a clue about the global and u. S. Economic recovery . We will take that to benjamin hartford. Are these earnings a statement about what will happen . I think what we have seen, you know, ups spoiled the fun so to speak about ten days ago when they preannounce earnings. The transports have said what the broader industrials have said. I think expectations are being reset here. It is still very much to be determined. That is what we