Economy

It's widely known that millionaires and billionaires pay taxes at a lower rate than those of us who make much less. But did you know that Americans collectively pay far higher income tax rates than many U.S. companies with billions of dollars in profits?

The cost of filing for bankruptcy has risen in recent years as a result of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, which aimed to reduce the number of bankruptcies by adding more requirements to the filing process.

Some of the world's most prominent hedge fund managers are betting against the eurozone -- and not just the weak little countries -- we're talking Germany and France. Here's why that's bad news for all of us.

U.S. employers pulled back on hiring in April for the second straight month, evidence of an economy still growing only sluggishly. The unemployment rate dipped, but only because more people gave up looking for work.

Demand for U.S. factory goods fell by 1.5% in March -- the biggest drop in three years -- driven by a sharp decline in orders for commercial aircraft. But airplane orders are a volatile statistic, and more recent data suggest the dip may be temporary. The Commerce Department said Wednesday that orders for factory goods fell 1.5%, the steepest decline since March 2009, when the economy was mired in recession. Orders rose 1.1% in February.

Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren't growing fast enough. Consumer spending increased just 0.3 percent last month after a 0.9 percent gain in February. Income grew 0.4 percent following a 0.3 percent gain in February.

Markets dipped Monday after official data confirmed that Spain is back in its second recession in three years. Investors had initially bid up stocks on hopes that the Fed would provide more stimulus to the U.S. economy.