Tax

Distancing himself from Republicans on housing issues, President Obama pitched a $5-billion to $10-billion plan to help a key segment of struggling homeowners — those still making monthly payments, but on underwater mortgages. Obama proposed Wednesday to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages. He argued that those homeowners — and the country — couldn't afford to let the housing market bottom out, as many Republicans, including presidential candidate Mitt Romney, have advocated.

SAN JOSE - After a morning of closed-door campaigning here Thursday, President Obama plans to talk about tax credits for clean energy production during a visit to Iowa. As he focuses on his administration's efforts to boost job creation, Obama plans to call on Congress to extend tax credits designed to encourage businesses to invest in clean energy production, senior officials said. Obama is scheduled to make his remarks on a visit to TPI Composites, a global provider of composite wind blades to major turbine manufacturers.

Often film sequels are slam dunks at the box office, a seamless continuation from where a previous hit left off. But as the new installment of the 15-year-old franchise "Men in Black" proves, getting to the big screen isn't always a cakewalk. One of the most troubled productions in recent Hollywood memory, Sony Pictures' latest movie in the Will Smith-Tommy Lee Jones sci-fi-comedy franchise encountered multiple script rewrites, a discontented star and a three-month production shutdown as writers and studio executives scrambled to fix a project that nearly fell apart . By the time it was over, the studio had run up a tab of nearly $250 million - making "Men in Black 3" one of the most expensive releases of the summer.

WASHINGTON -- One week after proposing a law that would punish Americans who avoid paying large tax bills by renouncing their citizenship, Sen. Charles E. Schumer scolded anti-tax activist Grover Norquist for comparing the legislation to efforts taken in Germany in the 1930s . Schumer, a New York Democrat, took to the Senate floor Thursday with a fiery speech to defend legislation he had introduced with Sen. Robert Casey (D-Penn.),...

washington -- Mitt Romney twice emphasized his unique business background when he and eight other Republican presidential candidates faced off in a debate last week in Iowa. "I've spent the last, as I've told you, 25 years in the private sector," former Massachusetts Gov. Romney declared at one point. "I understand why jobs come and why jobs go. I've done business in 20 countries."

First of three parts Tiffany Lee wanted a car. She was weary of the two-hour bus ride to her job at a UCLA Health System clinic. She hated having to ask friends to drive her 7-year-old son to his asthma treatments. But as a single mother with three children, bad credit and a $27,000-a-year salary, she couldn't find a bank or dealership willing to give her a loan. Then a friend steered her to Repossess Auto Sales in Hawthorne. Another buyer might have balked at the deal she was offered.

On summer nights in the mid-1960s, while black-and-white television crackled elsewhere in his Staten Island home with news of Southern violence and Vietnam, Bobby Lasnik would stretch out in his bedroom to let the righteous soundtrack of the civil rights movement waft into his impressionable teenage soul. Tuned in to WBAI-FM, coming across the water from Manhattan, he heard baleful laments about injustice that he would carry with him for a lifetime. "Suddenly there was someone speaking a certain kind of truth to you. You'd say, 'Wow!

Auto leasing deals abound these days, with offers that often seem too good to be true. How about a well-equipped Honda Accord for $250 a month with no down payment or any other drive-off fees? Or better yet, $199 a month for a Chevrolet Malibu? So, what's the catch? There isn't any if you know what you're getting into. There are always details. You need top-tier credit to qualify. You pay a penalty if you turn that Honda in with more than 36,000 miles. And the payment is not $250 a month because of that little matter of tax. It is more like $275, depending on where you live.

Most voters have by now received their sample ballots, and those who plan to vote by mail are sending in their applications. The June 5 election is underway right now. It is noteworthy for several reasons. Los Angeles County voters will be selecting a new district attorney, and this is the first time since 1964 that there is no incumbent trying to hold onto the seat. The field is wide open. To win outright in this nonpartisan race, a candidate must get more than 50% of the vote.

SACRAMENTO - Jerry Brown told voters he was different - that only he, a septuagenarian government veteran with no aspirations to higher office, could fix the cycle of swelling budget deficits that has plagued California for more than a decade. But the release of Brown's updated budget plan Monday shows that he is being trapped by the same partisanship and dysfunction that hobbled his predecessors when they tried to repair the state's finances. "No governor, under the system we have in California, really has the ability to deal with the mess we've created," said Mark Paul, a former deputy state treasurer and the coauthor of a book about the state's financial quandary.

Re "GOP hopefuls could sidestep tax orthodoxy," May 19 Hooray for the candidates who are willing to stand up to Grover Norquist by refusing to sign his anti-tax pledge. We need more brave souls in the GOP who want to compromise rather than obstruct. As for those Republicans who have already signed the pledge to never vote for tax increases, I challenge you to do your part: refuse to take a government salary, benefits or use expense accounts. Doing so won't cost voters anything if you support a tax increase because you can say you eliminated an expense.

WASHINGTON - The Congressional Budget Office warned that the country could be thrown into a recession if Congress tries to reduce the nation's deficit quickly with a combination of budget cuts and higher taxes scheduled to take place at the end of the year. The nonpartisan budget office laid out the stark choices Tuesday over what has been called the coming fiscal cliff as congressional leaders square off in an expected partisan showdown from now through December. The office warned that the growth of the nation's gross domestic product - the value of goods and services produced - would slow to just 0.5% next year if Congress did nothing.

After years in which California Republican lawmakers took their marching orders from out-of-state anti-tax groups, some GOP candidates are now refusing to sign no-tax pledges. It's a welcome development. The candidates should be applauded for their independence. The difference between today and two years ago is stark, as Times staff writers Michael J. Mishak and Anthony York reported Saturday. Back then, candidates seeking the Republican nomination for the Assembly and state Senate weren't serious contenders unless they signed the so-called taxpayer protection pledge, which was enforced by Grover Norquist's Americans for Tax Reform.

SACRAMENTO — Gov. Jerry Brown defends his soak-the-rich tax proposal as just. And besides, he says, it's popular with the non-rich. Never mind that it's the opposite of reform, that it would make California's roller-coaster tax system even more volatile. But maybe things do have to get worse before they get better. The state treasury is starved for more revenue. The governor is trying to avoid massive cuts to K-12 schools and more swats at the universities. It's probably not practical to wait for reform.

Re "Blazing a trail for tax hike," Column, May 16 I applaud Gov. Jerry Brown and civil rights attorney Molly Munger for their spirit in pushing tax initiatives to close the budget gap. However, the problem of spending more than we take in may be systemic. Either tax proposal on the ballot may have unintended consequences. High-income earners are mobile, and companies will ultimately seek the cheapest place to do business. More jobs and those that create them may move, further exacerbating the revenue problem.

Re "Payback for a tax refugee," Opinion, May 16 In calling for Facebook co-founder Eduardo Saverin to be exiled from the United States, Bruce Ackerman seems to argue that people should not be able to move freely around the world, even as our policies embrace free trade. Ackerman ignores that Saverin has always had two national loyalties and now lives in a third country. Such "third culture kids" are increasingly common today, and many are not super-rich. Rather, their statuses reflect a beneficial global market of talent moving across borders.

WASHINGTON - The Obama administration ordered tariffs of 31% and higher on solar panels imported from China, escalating a simmering trade dispute with China over a case that has sharply divided American interests in the growing clean-energy industry. The Commerce Department announced the stiff duties Thursday after making a preliminary finding that Chinese solar panel manufacturers "dumped" their goods - that is, sold them at below fair-market value. The widely anticipated ruling, if affirmed by U.S. trade officials this fall, is expected to have significant implications for both the global production of solar cells, now largely in China, and the growth of the solar energy industry in the U.S., which employs about 100,000 people in manufacturing, installation and services.

LAFAYETTE, La. - Visitors to this oil town might be forgiven for wondering whether the BP oil spill and subsequent drilling moratorium ever happened. "Now hiring" signs are plastered on billboards around town, and hotels such as the Crowne Plaza are chock full of seminars training students to work on offshore rigs. Many offshore companies can't find enough workers for the jobs they're listing. This parish has the lowest unemployment rate in Louisiana, 4.8%. Such is the opportunity on the offshore rigs that Sheila Clark, whose husband, Donald, died in the Deepwater Horizon explosion two years ago, said her 22-year-old son recently asked her how she'd feel if he went to work on a rig. "I can't stop him," said Clark, who moved to Baton Rouge after her husband's death.

PATTERSON, Calif. - Amazon.com Inc.for years has fought government efforts to tax e-commerce. Now it's poised to pocket millions of dollars in sales taxes paid by California customers. As part of a pact reached last year with state lawmakers, some online retailers agreed to begin collecting sales taxes this fall. About half of the projected $316 million raised in the first full year is expected to come from merchandise sold by Amazon, which is also setting up two California fulfillment centers that will employ at least 1,000 workers each.