Sacred cows of taxation deserve elimination say critics
Scott Burns argues that home mortgage interest and real estate tax deductions distort tax policy. He notes lower mortgage rates reduce the value of these breaks, and many taxpayers gain little or none unless housing values exceed thresholds. He cites median prices and equity to claim deductions favor higher value homes and misalign with original aims.
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JPMorgan Chase to cut 3000 to 4000 jobs in 2013
JPMorgan Chase plans to cut 3000 to 4000 jobs this year, about 1.5 percent of its global workforce, mainly through attrition. The bank had 258,965 employees at end of 2012 and aims to trim expenses by 1 billion dollars in 2013.
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