How $1 trillion hides in plain sight and Stocks set for rally at open

The irony is that all those breaks can translate into higher tax rates and a federal budget that is much bigger than advertised, according to tax experts Len Burman, a professor at Syracuse University, and Edward Kleinbard, a professor at University of Southern California.  Anyway you slice it, a cool trill is not chump change. In fact, it’s equal to nearly a third of the federal budget.

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But you won’t actually see that highlighted in the federal budget process every year. That’s because lawmakers focus on the money the government will spend and how much it will raise in taxes. But "total revenue passed up" doesn’t really come up.

"Like direct spending programs, tax expenditures crowd out other spending and require higher tax rates than otherwise needed," Burman wrote in a paper co-authored with Eric Toder and Christopher Geissler.

Even though tax breaks lower the tax bite for eligible individuals and corporations, they end up raising taxes on others. [Read the full article]

U.S. stocks were poised for early gains Friday, as investors reacted to the government’s better-than-expected employment report.

Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were higher, doubling their gains following the employment report.

Futures measure current index values against perceived future performance and can offer an indication of how markets will open when trading begins in New York.

Wall Street finished Thursday’s session higher, but trading was choppy as investors took a wait-and-see attitude before the monthly jobs report.

U.S. futures were trading higher even before the employment report was released. Philip Isherwood, equities strategist at Evolution Securities in London, said prior to the report that U.S. futures were trading higher on expectations of good news concerning the job market, their confidence fueled by Thursday’s report that unemployment claims were on the decline. [Read the full article]

Bottom line here Kile — get a personal e-mail address, like Hotmail or Yahoo to use for your job search. You don’t want to use company resources when you’re out trying to get a new job. And you never know if someone from your current job will inadvertently find e-mails you don’t want them to see. What if someone picks up your BlackBerry? Or your company has a policy of monitoring e-mail. Don’t take the risk. And definitely don’t send out resumes from your work e-mail.

Question 2. I have an upcoming job interview, but the employer wants me to get a credit report before the interview date. They recommend using a specific Web site for this information. Is this legit? — Kristen

Well, hate to break the bad news to you, but this is a scam. The employer probably isn’t real. We spoke to the Better Business Bureau, and this kind of thing has been happening for years. [Read the full article]

Apple officially set the release date early Friday, after months of speculation about when the device would become available to the public.

This a game these vendors play. They never announce a specific ship date, and it’s all about posturing and positioning, said Laura DiDio, a principal analyst at ITIC. But Apple really wants to get this out for spring and summer.

The iPad has a 9.7-inch, full-color, high-resolution, LED-backlit screen. Two options will be available: One with Wi-Fi capabilities and another with Wi-Fi and an ability to connect to AT&T’s 3G network.

Wi-Fi models will be available in the U.S. on April 3 and models with Wi-Fi and 3G will be available in late April. Apple (AAPL, Fortune 500) will introduce the device internationally in late April as well. [Read the full article]

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