President Obama's so-called Buffett rule has slammed into a wall of GOP opposition. On the eve of tax day, Senate Republicans voted yesterday to block a measure that would have made mega-investor Warren Buffett and billionaires and millionaires like him pay at least a 30 percent tax rate. Although Buffett endorses such a rule, Senate Republicans call it an election year gimmick. Their Democratic counterparts insist it's all about fairness. NPR's David Welna has our story.
They say the only things that are certain in life are death and taxes. But half that statement appears to be under challenge by one late rap star and some special effects, which brings us to today's last word in business - virtual comeback.
The day that many dread is here: It's Tax Day. Of the 143 million federal tax returns filed last year, more than 80 percent qualified for a refund. Steve Inskeep talks to David Wessel, economics editor of The Wall Street Journal, about the economics of tax refunds.
Apple share prices dropped more than 4 percent on the NASDAQ Monday — continuing a five-day decline for the maker of iPads and iPhones. In that span, the company's market value has dropped by almost $60 billion. Analysts say this may just be a price correction but warn that it could drag the markets down with it.
The 2012 presidential election is approaching, and President Obama's fate may hinge on how well the economy fares over the coming months.
On the campaign trail, Republican presidential candidate Mitt Romney has been highlighting the economy's weaknesses. The former Massachusetts governor has made a similar claim about the president, and the recession, at almost every campaign stop.
"I don't blame the president for the downturn," Romney told a crowd in New Hampshire earlier this year. "He didn't cause it. But he made it worse and made it last longer."
Zach Houston runs his Poem Store (on any given sidewalk) with these items: a manual typewriter, a wooden folding chair, scraps of paper, and a white poster board that reads: "POEMS — Your Topic, Your Price."
Houston usually gets from $2 to $20 for a poem, he says. He's received a $100 bill more than once. The Oakland, Calif., resident has been composing spontaneous street poems in the San Francisco Bay Area since 2005. Five years ago, it became his main source of income.
Oil field workers drill into the Gypsum Hills near Medicine Lodge, Kan. Hydraulic fracturing, or "fracking," to coax out oil and gas has led to a natural gas boom that the U.S. market is having trouble absorbing.
There's a boom in natural gas production in the United States, a boom so big the market is having trouble absorbing it all.
The unusually warm weather this winter is one reason for the excess, since it reduced the need for people to burn gas to heat their homes. A bigger reason, however, is the huge increase in gas production made possible by new methods of coaxing gas out of shale rock formations.
Afghan Army soldiers stand during a security transition ceremony in Mazar-e-Sharif, north of Kabul, Afghanistan, on July 23, 2011. The Afghan government officially took control of security in the capital of the peaceful northern province of Balkh on July 23, as part of an effort to begin handing over all security responsibilities to Afghan forces by 2014.
This week, NATO Cabinet ministers, including U.S. Defense Secretary Leon Panetta, will try to tackle the problem of Afghan security. The basic plan for bringing American troops home from Afghanistan is to let Afghan security forces fight for their own country. But there's a hitch — finding a way to pay for the Afghan army.