Econ 101: November 8, 2011

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • The Senate voted overwhelmingly to move to debate on a measure providing tax credits to businesses that hire veterans. [CNN Money]
  • According to the Joint Tax Committee, “a minuscule tax on financial transactions proposed by congressional Democrats would raise more than $350 billion over the next nine years.” [Huffington Post]
  • Bonuses on Wall Street “are set to shrink by an average of 20% to 30% from last year, with even steeper declines for bond traders.” [Wall Street Journal]
  • Ohio residents today will vote on whether or not to keep Gov. John Kasich’s (R) union-busting law, SB5, on the books. [Bloomberg]
  • Japanese corporation Olympus admitted yesterday “that more than $1 billion in merger payouts were used to hide years of losses on investments.” [New York Times]
  • Republican members of the fiscal supercommittee are considering a plan “that would raise additional revenue by limiting some income tax deductions that primarily benefit higher-income households.” [New York Times]
  • Italian Prime Minister Silvio Berlusconi “faces a crucial vote on public finances in parliament on Tuesday which could sink his government.” [Reuters]
  • Bankrupt Pennsylvania capital Harrisburg is “moving closer to an agreement that could stave off a state takeover.” [Reuters]