Current Events Cheat Sheet: Money, Money, Money and Taco Bell Breakfast

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President Obama delivered his State of the Union speech on Tuesday. All eyes were on the pres (although we didn’t have much of a choice, all other TV programming was cancelled…) to see what he would mention in this important election year. It might be his most important SOTU yet, and quite possibly also his last one. In the talk, Obama laid out plans to create “an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules.” One of his ideas? An unavoidable 30% tax rate on any one who makes over $1 million a year. He also mentioned a plan to help homeowners by allowing them to refinance their mortgages at historically low interest rates. Unsurprisingly, Obama started and ended the speech with one of his most praised accomplishments — bringing down Osama bin Laden. Oh. And he made some kind of horrible joke about milk that was just bad. Really bad. And not even worth explaining.

Speaking of tax on the rich, Republican presidential contender Mitt Romney finally released his tax forms on Tuesday after continued pressure from his opponents and the public. What did we find out? Everything is totally legal, but he payed a tax rate of less than 14% on his income of over $42 million in the last two years. In fact, what he makes in just one week is enough to put him in the top 1%.

Apple recorded record profits this quarter and briefly surpassed Exxon to become the most valuable company in the world. On Wednesday, longtime most-valuable-company Exxon gave up its reign to Apple during the day’s stock market trading. By the end of the day, Exxon was back on top with a value of about $418 billion, with Apple trailing closely behind at $415 billion. Who’s currently in third? Microsoft! So does that conclude the never-ending Mac versus PC battle? The jump in value came after news that Apple recorded its highest profits ever this quarter, making $13 billion in pure profit, or 118% more than last year. iPhones are hugely to thank — more than 37 million were sold. Also, we learned this week that 23 people died to get you that iPhone. Yeah. More on that here.

Taco Bell announced that it will begin selling breakfast food. The menu will include breakfast burritos, sausage and egg wraps, hash browns, cinnamon buns and a number of other pseudo-Mexican (but not even really at all) creations. It’ll be a challenge for the chain to snag customers away from breakfast fast food champion Mickey D’s, but it won’t make a difference to me anyway. Who can wake up before 10 a.m. to snag these morning meals? They should serve it all day, but sadly they won’t. I’m right. You know I’m right.

Pic o’ the Week:

NASA released the most high definition image of the Earth ever taken, called “Blue Marble 2012.” Makes you feel tiny, doesn’t it?

Photo Credit: NASA

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