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Detailed text transcripts for TV channel - CNN - 20100709:16:36:00

Second, safety. relief wells can blow out just like an exploratory well, so opponents say requiring them would double your risk of an accident, like the one we re seeing in the gulf right now. one professor of petroleum engineering told us, well, do you require a we levy well for the relief well, where does it end, don? where does it end? you know what, patricia, everyone seems to be betting that relief well will stop what s going on in the gulf of mexico. but is that really true? is that should we be i don t know, basing our hopes on this relief well? well, one of the experts that i talked to says yes, the tricky part, though, is when will it work? he says it s like hitting a target the size of a dinner plate while drilling through a mile of rock. and if you miss, you have to keep trying to hit that target. that s nearly 18,000 feet below the water surface. we have one example. a relief well stopped this blowout that was 150 miles off australia s coast last year. it took almos ....

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Detailed text transcripts for TV channel - CNN - 20100707:16:33:00

So which states tax the wealthy the most? oregon and hawaii have the highest rate. 11% on income above $250,000 and $200,000 respectively. california and rhode island have the next highest rates. but some good news for those big earners in rhode island. they ll soon be getting a break. in january, the top rate will drop to just below 6%. the state hopes that will attract more business and create more jobs. which really illustrates the catch-22 that the states are facing. they need to raise taxes to fill those budget gaps, but raise them too much, and you risk having people and jobs move out of the state, tony. that is a catch-22. patricia, good to see you. appreciate it. thank you. good to see you. states governor says the decision on gay marriage is just too important for lawmakers to decide. we are checking your top stories. that s next in the cnn newsroom. ....

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Detailed text transcripts for TV channel - CNN - 20100707:16:31:00

Follow the money. so investors jump into financial, technology, and we mentioned just a moment ago, transportation shares growing, building today. better than three hours into the trading day. again, we are close to session highs. we re up 145 points and the nasdaq is up 27, 28 points. so a good day so far. got to tell you, even if your tax bill to unsell sam hasn t gone up, chances are pretty good your state is taking a bigger chunk out of your wallet. patricia woo is joining us from new york. state coffers as we know are running thin, dry right now. that means higher taxes for all of us, really. you said it, tony. 36 of 50 states raised taxes or fees in the last two years. the combined total, a whopping $25 billion. that s according to the national association of state budget officers. more than $3 billion in new state taxes are estimated for next year. so whose feeling the most pain? well, u.s. news and world report ....

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Detailed text transcripts for TV channel - CNN - 20100707:16:32:00

Looked at tax increases since 2009. plus proposed hikes for next year. and then divided it by each state s population to get a per person calculation. so here s the breakdown. new yorkers are taking the biggest hit. paying $419 more per person. california is next at $312 more per person. delaware, connecticut and wisconsin round out the top five. but taxes aren t rising everywhere. they re actually falling in this a few states. for example, in north dakota, people are paying $301 less. so, tony, not all of us are feeling that pain equally. well, and i m also wondering if this calculation is even fair. we know, patricia, that not everyone pays the same in taxes. that is true also. some groups are getting hit harder than others. for example, several states have raised cigarette taxes. so only smokers are feeling that one. and many new taxes target high income earners. ....

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Detailed text transcripts for TV channel - CNN - 20100702:16:46:00

Crisis for our young. congress and the president have let the kids down. tony? all right, patricia, appreciate it. thank you. a cnn oil alert on day 74 of the disaster in the gulf. the cap on bp s gushing oil well appears to be wobbling, raising the possibility less oil is being contained. a bp spokesman suggests high winds are to blame, and expects rough seas to calm this weekend. job recovery hits a real wall, a brick wall. the labor department reports a loss of 125,000 jobs in june. modest hiring by businesses only partly offset the end of census jobs. and general david petraeus takes over command in afghanistan in the middle of a surge of violence. the taliban claimed responsibility for an attack overnight on a u.s. aid agency in northern afghanistan, which killed at least four people. obviously people love saving money. woman: welcome to the conference. here s your nametag, sir. annnd for you. ....

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