Now each day we've been looking at those gifts - big and small - that the government gives us in the form of tax benefits and we have finally hit the final day in our series that we've called the Twelve Days of Tax Deductions.
(SOUNDBITE OF SONG, "TWELVE DAYS OF CHRISTMAS")
GREENE: And so on this 12th day of tax deductions, we thought we would just dig into a grab bag of a lot of deductions you may or may not even know about.
It's MORNING EDITION from NPR News. Good morning. I'm David Greene.
Let's begin our show this Christmas Day with a look back at a business development this year that took many investors by surprise. Just over three months ago, Apple's stock hit a record high - for a few days in September a single share was selling for more than $700. But since then, Apple's stock has tanked. In December, it traded briefly below $500 a share.
OK, so the final numbers are not in yet, but it looks like the Christmas shopping season was just OK. There were some bright spots, particularly in online sales.
NPR's Ina Jaffe reports.
INA JAFFE, BYLINE: The frenzy of Black Friday calmed down considerably over the course of the Christmas shopping season. Major chains began offering big discounts as the holiday approached and that'll cut into profits.
NPR's business news starts with possible port shutdowns.
A federal mediator says port operators and workers will start talking to each other again. The clock is ticking because a contract extension expires Saturday for longshoremen from Maine to Texas. Talks broke down last week. Retailers are pushing hard for mediation. Transcript provided by NPR, Copyright National Public Radio.
And today's last word in business: Dueling Santa Trackers.
We've heard for a while how NORAD tracks Santa's progress on Christmas Eve. Turns out Google is following Santa's path as well. But when NORAD, powered by Microsoft, placed him over Japan, Google cited him over Australia. When Google had him in Iceland, NORAD said no, it was Argentina. Both say he's made all of his drop-offs though, which means he's not using Apple Maps.
That's the business news from MORNING EDITION on NPR News. I'm David Greene.
Throughout the debate over taxes and the "fiscal cliff," there's been a lot of looking backward — to the 1990s. The economic expansion of the 1990s was the longest in recorded American history.
Democrats say the economy thrived under the leadership of President Bill Clinton, including his tax rate increase on high earners. Republicans say government didn't spend as much then and that growth didn't really take off until the GOP took control of Congress in 1995.
So what actually happened in the '90s? What made them tick?
GM, Ford and Chrysler are turning their focus to selling luxury cars — something they haven't succeeded at in decades. They're hoping that success in the competitive but lucrative luxury sector will signal that the U.S. auto industry's comeback is complete.
After years of recession and slow recovery, maybe you didn't notice. But it turns out, 2012 was a fairly good year for the U.S. economy.
The Standard & Poor's 500-stock index has risen nearly 14 percent this yearand the unemployment rate has fallen to 7.7 percent, the lowest point in four years. Inflation and interest rates have stayed low, allowing families to cut their debt loads.