Page 30 - 115 Billion News Today : Breaking News, Live Updates & Top Stories | Vimarsana

We've seen prices come down dramatic since the war started. prices were were high, they're at 86.38. went up marginally today, mostly for technical reasons. here is the deal, this is the 12th largest oil producer on the planet. high quality oil coming from libya. the traders love this stuff. can't get enough of it. and they believe this is going to come back on-line sooner rather than later because a lot of the damage done during the war was not to the infrastructure of the oil. so they're hopeful that this will turn around quickly and it's going to tell traders out there that may, hey, we hav...

Very little with regard to the layoffs that are happening in the private sector. this is really a drop in the bucket. and they've gotten am plenty of money, the teachers union, the police union, the firefighter unions, over the last several years. $115 billion alone in education money under the stimulus. another $50 billion under the bill passed last summer. and of course, this little quote, unquote, mini bailout which they're proposing $35 billion more when they still haven't fully assessed where all of the money went for the last edu jobs bill. that's what they don't want to talk about. the ...

More on this part of the story. what's going on here, mary? >> this is one slice of the president's plan but budget experts say taxing the rich won't bring in as much revenue as people might think. he said it before and president obama vowed again not to extend bush era tax cuts for families making more than $250,000 a year. >> $1 trillion worth of tax cuts for every millionaire and billionaire in our society. >> reporter: if those tax cuts are not renewed, it would mean that taxes would go up for about 2% of the population. the president calls them the richest americans. but budget experts sa...

>>dave: does this hurt the president? >>guest: he is trash talking. for example, he starts off with calling it a falsehood, my bill will save, my health care bill will save $1 trillion. well the congressional budget office said it would save, reduce the deficit by $148 billion but that was before they came out and admitted they forgot to take into account $115 billion in discretionary costs to implement the bill so the savings dwindled to $28 billion and paul ryan pointed out it is actually $701 billion in deficit because they are double counting revenue using the money twice, borrowing money ...

Crunched the numbers. if taxes were raised 1 percentage point for people in the top two tax brackets it would amount to $115 billion over a decade. but raise taxes by that same amount 1 percentage point on all the other brackets and it comes to just under $500 billion. cnn money's reporter says other americans can't generate the other income that's needed. >> the income of the wealthy becomes volatile because it's tied up with investments. when the economy goes south, often their income gets hurt. you're not going to get as much revenue from them as you might expect. two, there aren't that man...