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NATIONAL
September 19, 2011 | By Peter Nicholas and Lisa Mascaro, Washington Bureau
Over the summer President Obama pushed a "grand bargain" that called on Republicans and Democrats to forge a compromise: Each would agree to painful sacrifices that would slash the nation's deficit and shore up the social safety net for decades. The approach failed to achieve a deal, angered many Democrats and coincided with a steady drop in Obama's prospects for reelection. In releasing a new deficit-cutting plan Monday, Obama displayed a striking change in course. His shift in both substance and rhetoric amounted to a tacit admission that the strategy he had pursued from April through August had failed.
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NATIONAL
September 18, 2011 | By Jim Puzzanghera, Los Angeles Times
Top congressional Republicans accused President Obama of trying to incite "class warfare" with his plan for a new tax on millionaires, part of a $3-trillion deficit reduction package to be announced Monday, and vowed to oppose the tax on grounds that it would hurt economic growth. "Class warfare … may make for really good politics, but it makes for rotten economics," House Budget Committee Chairman Paul D. Ryan (R-Wis.) said on "Fox News Sunday. " "We don't need a system that seeks to prey on people's fear, envy and anxiety.
NEWS
September 18, 2011 | By Jim Puzzanghera, Los Angeles Times
Top congressional Republicans on Sunday accused President Obama of trying to incite class warfare with his proposal for a new tax on millionaires and said they would not support the measure because it would hurt economic growth. "Class warfare … may make for really good politics, but it makes for rotten economics," House Budget Committee Chairman Paul D. Ryan (R-Wis.) said on "Fox News Sunday. " "We don't need a system that seeks to prey on people's fear, envy and anxiety. We need a system that creates jobs and innovation and removes these barriers for entrepreneurs to go out and rehire people.
NATIONAL
September 17, 2011 | By Jim Puzzanghera, Los Angeles Times
President Obama will propose that people earning more than $1 million a year pay at least the same tax rate as middle-class earners to help reduce the soaring budget deficit, according to administration officials. Obama will call the plan the "Buffett rule" after billionaire investor Warren E. Buffett, a supporter of his who recently called the tax system unfair, noting that it lets him pay a lower rate than his secretary does. The plan would replace the complicated alternative minimum tax, which was enacted decades ago to ensure that the wealthy paid at least some income taxes, according to the officials, who requested anonymity because they were not authorized to discuss the matter publicly.
BUSINESS
July 17, 2011 | By Jessica Guynn, Los Angeles Times
As she unloaded groceries in the driveway of her Palo Alto home, Lisen Stromberg was approached by a real estate broker who asked whether she'd be willing to sell her five-bedroom house to a senior Facebook executive. "There is a house down the street selling for $6.3 million. I'll sell you mine for an even $6 million," she replied. Her tongue-in-cheek asking price was about twice what her house is worth, but the broker didn't miss a beat and said he would speak with his client.
NEWS
April 18, 2011 | By Peter Nicholas, Washington Bureau
President Obama's income dropped substantially in 2010 from the previous year due to declining book sales, but he is still comfortably in the ranks of the nation's millionaires, his federal tax returns show. The Obama family earned $1.73 million last year, largely from sales of the president's books, "Dreams from My Father" and "The Audacity of Hope. " Obama also derived income from his new children's book, "Of Thee I Sing: A Letter to My Daughters," but he donated all proceeds to a charity benefiting children of slain and disabled soldiers, the White House said The Obamas paid a total of $454,00 in federal taxes and $52,000 in Illinois state taxes, according to the returns, released Monday by the White House.
BUSINESS
April 1, 2011 | By Ann Marsh
Schoolteacher David Moehlman has a money problem. He has a lot of it — more than $1 million in savings accounts and mutual funds, plus half a million or so in real estate. And he has no debt. Moehlman, 44, didn't amass the vast majority of this nest egg through an inheritance or other windfall. He worked hard and made some good investments. And he took savings to an extreme. For example, he eats breakfast and dinner every day at fast-food places where he always orders off the $1 menu, and lunch is usually a 75-cent microwave burrito.
ENTERTAINMENT
March 27, 2011 | By Sam Adams, Special to the Los Angeles Times
In the three years since playing the imprisoned lover Latika in the Oscar-winning "Slumdog Millionaire," Freida Pinto has appeared in only one film, as part of the ensemble cast in Woody Allen's "You Will Meet a Tall Dark Stranger. " But though you might not know it from your local marquee, she's been busy. Come November she'll be hard to miss, appearing in two of the season's biggest productions, released within two weeks of each other: the Greek gods saga "Immortals" and the "Planet of the Apes" prequel "Rise of the Apes.
NEWS
December 9, 2010 | By John Horn, Los Angeles Times
Before they joined forces on "127 Hours," director Danny Boyle and screenwriter Simon Beaufoy had collaborated on just one movie ? but what a film that was. "Slumdog Millionaire" not only swept 2009's Academy Awards but also gave Boyle (who won for best director) and Beaufoy (who won for adapted screenplay) the commercial momentum and creative freedom to make, as they call it, "an action movie in which the hero doesn't move. " The pair's adaptation of hiker Aron Ralston's memoir of how he cut off his own forearm to escape a climbing accident is considered a lock for a best picture nomination, and star James Franco (who plays Ralston)
NEWS
November 10, 2010 | By Mary Forgione, Los Angeles Times
Sensa is apparently quite the fabulous product – or at least many users say so. One of them is "Millionaire Matchmaker" Patti Stanger, who claims to have lost 20 pounds on Sensa, those calorie-free flavor sprinkles that supposedly help you lose weight. The South Florida Sun Sentinel blog the Skinny reports on her enthusiasm. "A magic fairy dust-like product is going to help me fit into a pair of skinny jeans? I am skeptical, to say the least," the blog says. We are too. Sensa creator Dr. Alan Hirsch talked about how the flavor crystals were supposed to help people lose weight in a Los Angeles Times story "Sensa: Get a whiff of this diet.
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