PALM BEACH, FLORIDA (Reuters) - U.S. President Donald Trump gave a bullish Thanksgiving address to troops overseas on Thursday, hailing progress in Afghanistan and against ISIS, and telling them they were fighting for "something real," including a stock market at record highs and his promised “big, beautiful fat tax cuts.” Read more... Show More Summary
Three new analyses of the Senate's Tax Cuts and Jobs Act all delivered bad news for Republican leaders. The Tax Policy Center found that more than 50% of Americans would see a tax increase in 2027 under the bill. Only one out of 42 economists...Show More Summary
The more people think about the Republican proposal to cut corporate taxes the worse it looks. Most people dismiss the argument that the benefits will trickle down to workers. Supporters’ argument is that reduced taxes on profits will cause increased investment which causes higher production and wages. There are strong arguments that the tax cut […]
Via Washington Post, Jared Bernstein writes: The Republican tax cut plan has been justly criticized for worsening both income inequality and the national debt, but the plan has another big problem: It’s likely to lead to more outsourcing of U.S. jobs and a larger trade deficit. That’s obviously a negative for factory jobs and net […]
The New York Times reports that many state governments are concerned that the Republican tax plan will hurt them: Of primary concern is the Senate’s plan to repeal the state and local tax deduction….The tax break is claimed by people across the nation, but is more heavily utilized in higher-tax states like Oregon, California, New […]
Some state officials say the $1.5 trillion tax cut moving through Congress would raise taxes on residents and force tough decisions at the local level.
Apparently, the giant hole the Senate tax bill blows in the ACA won’t stop Lisa Murkowski from supporting the upper-class tax cuts she craves: Sen. Lisa Murkowski (R-Alaska) cast a decisive, dramatic vote to save health care for millions of people over the summer. The chances of her doing it again just went way down. […]
Republicans are using employee achievement awards and parking benefits to pay for a corporate tax cut.
LONDON (Reuters) - The British government will look into ways to reduce plastic waste through the tax system and charges on single-use plastic items, finance minister Philip Hammond said on Wednesday during his budget speech to parliament.
FOLLOW @RubenBolling on the Twitters and a Face Book. WE URGE YOU TO JOIN Tom the Dancing Bug's subscription club, the Proud & Mighty INNER HIVE, for exclusive early access to comics, extra comics, and Other Stuff. You can also now join through Patreon! GET Ruben Bolling’s new hit book series for kids, The EMU Club Adventures. Show More Summary
Seth takes a closer look at the White House continuing to stand by an accused sexual predator running for Senate so they can pass tax cuts.
Americans want paid family leave—something people in most nations around the world already get. So it sounds like something to cheer that there’s a paid family leave provision in the Senate Republican tax plan, right? Yeah, no. This is very much a Republican family leave proposal, which is to say it’s a giveaway to big […]
Lawrence O’Donnell speaks with former Treasury Secretary Lawrence Summers about how the Trump-Republican bill violates all of Ronald Reagan’s principles for...
These two unconnected issues make for a pivotal moment for the GOP. Will it be their Waterloo or their Yorktown? Defeat or victory?
Andrew Ross Sorkin had a good piece mocking the Peter Peterson funded Fix the Debt campaign since many of its CEO leaders are now gladly on the tax cut bandwagon. Unfortunately, the piece ends with sermonizing on the need to reduce deficits and debt. "In the end, Mr. Show More Summary
Here's how the individual income tax provisions of the amended Senate's Tax Cuts and Jobs Act would impact individuals and families across the income spectrum.
Cuts to the employer portion of payroll taxes are often discussed as a policy lever to reduce labour costs for firms. This column examines the effects of a Swedish experiment which dramatically cut employer payroll taxes for young workers between 2007 and 2015. Show More Summary
The Joint Committee on Taxation, Congressional Budget Office, and Tax Policy Center agree that, without significant changes, the House-passed tax bill (the Tax Cuts...
The current tax reform debate has focused on economic growth and the value of cuts to different groups of taxpayers. Tax simplification has received less attention, and Republican bills would only make modest gains in that regard. Yet...Show More Summary
North Dakota Representative Kevin Cramer Rick Abbott / The Forum If you were to guess which state earned the highest Gross Domestic Product (GDP) per resident, would you guess that the winner – by a long shot – wasn’t a state at all? Washington, D.C. Show More Summary