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Since taking office last year, President Trump has made eliminating federal regulations a priority.
The three Republican commissioners now in power at the FCC voted this week to erase the agency's legal authority over high-speed Internet providers.
Flush with cash from President Donald Trump’s tax overhaul and bathing in more earnings than they know what to do with, U.S. companies are embarking on a buyback binge of historic dimension. How big will it be? JPMorgan Chase & Co.
Studies show that Americans work longer hours and have more stress-related illnesses than their European and Japanese counterparts. Some of this is due to stagnant wages and outdated overtime laws, but some of the problem is embedded into, particularly in technology and finance jobs.
Thanks to a complex system of credits and deferment, Amazon won't pay any federal income taxes after topping $5.6 billion in income in 2017. The Seattle-based online retailer will end up paying out roughly $769 million in taxes for the year, but $724 million of that will be in foreign taxes.
We’re all tense. Hearing about our fellow citizens in Hawaii scrambling around, looking for a place to hide from a nuclear bomb, will do that to you. So will contests between two unstable world leaders over the size of their nuclear buttons.
In 2016, the highest-paid employee of the State of California was Jim Mora, the head coach of U.C.L.A.’s football team. (He has since been fired.) That year, Mora pulled in $3.58 million. Coming in second, with a salary of $2.
Most of us regard self-driving cars, voice assistants, and other artificially intelligent technologies as revolutionary. For the next generation, however, these wonders will have always existed.
So Tennessee Senator Bob Corker is in trouble now, because he flip-flopped to vote for Donald Trump's tax bill after a provision was included that reportedly helps him personally. Color me not shocked.
TULSA — Tom Coomer has retired twice: once when he was 65, and then several years ago. Each time he realized that with just a Social Security check, "You can hardly make it these days." So here he is at 79, working full-time at Walmart.
Sucking up to Donald Trump is tricky business. On Wednesday Wells Fargo announced that it was raising its minimum wage thanks to the passage of the Republican tax bill: That press release is a little vague.
Outside contributors' opinions and analysis of the most important issues in politics, science, and culture. The Republican-controlled Congress is poised to pass a tax bill riddled with ambiguities, loopholes, and giveaways.
While recent polling indicates that the majority of Americans oppose the GOP tax plan signed by President Donald Trump early Friday, Politico reports right-wing groups are planning a multimillion-dollar campaign to promote the deeply unpopular new law.
Congressional Republicans have finally done it: Both the House and Senate passed tax legislation. The bill has now headed to President Trump’s desk for his signature. Most dissection of the plan has focused, for obvious reasons, on the way it changes our tax bills.
The rush to enact the tax bill was designed to mask — as a break for the middle class — what is in fact a $1.4 trillion package of benefits for key donors and lobbyists, the richest members of Congress, President Trump, his family and other families like his.
Energy Secretary Rick Perry wants to bail out coal and nuclear plants. He says the US energy grid is experiencing an urgent crisis — that its reliability and resilience are in immediate danger unless those power plants are saved.
WASHINGTON — The House, forced to vote a second time on the $1.5 trillion tax bill, moved swiftly to pass the final version on Wednesday, clearing the way for President Trump to sign into law the most sweeping tax overhaul in decades.
Congressional Republicans are fulfilling President Donald Trump's wish for a pre-Christmas tax-cut in the face of strong public resistance, a new NBC News/Wall Street Journal poll has found.
Republicans have managed to take a tax plan that was already tilted heavily toward corporations and the wealthiest Americans and shift the balance even further in favor of the rich.
“While most other nations, and all of the major international institutions…have acknowledged that extreme inequalities in wealth and income are economically inefficient and socially damaging, the tax reform package is essentially a bid to make the U.S.
Following months of relentless lobbying, backroom scheming, self-dealing, and brazen lying, Senate Republicans finally rammed through their $1.5 trillion tax bill by a party-line vote of 51-48 in the dead of night Wednesday, all but clearing the legislation's path to President Donald Trump's desk.
WASHINGTON — Republicans took a critical step toward notching their first significant legislative victory since assuming full political control, as the House and Senate voted along party lines on Tuesday and into early Wednesday to pass the most sweeping rewrite of the tax code in decades.
The Republican Party did not just overhaul the tax code and they did not cut “your” taxes. They engineered a coup against the middle and working classes and they threw enormous amounts of public money to private billionaires and multi-millionaires.
It just so happened that during the week that Republicans rammed a $1.5 trillion tax bill through Congress without a single Democratic vote, Philip Alston, the UN special rapporteur on extreme poverty and human rights, was finishing up a fact-finding mission to the United States.
With unemployment low and demand for new homes high, a company like Home Depot could be spending most of its surplus billions on raises for workers or the rollout of new stores.
In a commencement speech years ago, author David Foster Wallace told this story: Two young fish are swimming along, and they pass an older fish swimming the other way. The older fish says, “Morning, boys, how’s the water?” The two young fish swim on for a while.
The Republican Tax Cuts and Jobs Act is notably generous to corporations, high earners, inheritors of large estates and the owners of private jets. Taken as a whole, the bill will add about $1.
1. Scream about the debt and deficit. 2. Shrink revenue by slashing taxes for the already palatial elite. Summarily dismiss all concerns about the debt and deficit, because, well, the debt and deficit don't really matter. Plus, tax cuts for the rich grow the economy anyway. Or maybe not.
Republicans have made a lot of promises on their tax bill. They’ve said their bill will simplify the tax code by having American taxpayers file their taxes on a postcard, and that the tax cuts will pay for themselves, unleash corporate investment, and spark unprecedented economic growth.
The GOP tax bill sailed through the House today with 227 members of Congress voting yes and 203 voting against the bill. Every single Democrat voted no and 12 Republicans crossed the aisle to join them. The Senate is expected to vote on the bill later today, where it’s expected to pass as well.
Back in September, Donald Trump asked Americans to “believe me” when he said he wouldn’t benefit from the tax bill. You didn’t believe him, did you? Hope not because Donald Trump is about to make out like a bandit. Why? For one, a tax deduction was preserved for owners of golf courses.
WASHINGTON — Over the past year, Republicans have made their priorities clear. Their effort to repeal Obamacare would have left tens of millions of people without health insurance.
At this point, the debate over whether the American mainstream supports the Republicans’ regressive tax plan is over. Surveys have been consistent for months: the public just isn’t buying what the GOP is selling.
Donald Trump is to remove climate change from the global threats listed in his National Security Strategy, due to be released on Monday.
President Trump’s transportation budget slashes federal aid to the nation’s rail systems by cutting funding for long-distance Amtrak service and severely limiting money to help expand transit lines and build new ones. The $16.
Trump has consistently sold out the blue-collar, socially conservative whites who brought him to power, while pursuing policies to enrich his fellow plutocrats. What might he do to keep the "base" on his side? President Donald Trump speaks during a rally at the Pensacola Bay Center on Dec.
Having passed their tax bill, top Republican leaders have already identified the next frontier for 2018: a push to enact sweeping budget cuts on programs the poorest Americans depend on.
By 2027, more than half of all Americans — 53 percent — would pay more in taxes under the tax bill agreed to by House and Senate Republicans, a new analysis by the Tax Policy Center finds. That year, 82.8 percent of the bill’s benefit would go to the top 1 percent, up from 62.
The Republican tax bill is a throwback to the Gilded Age. Since the Reagan administration, economic policy in the United States has been gradually regressing to the age of robber barons.
The Republican tax plan to be voted on this week is likely to pass. “The American people have waited 31 long years to see our broken tax code overhauled,” the leaders of the Koch’s political network insisted in a letter to members of Congress, urging swift approval. Please.
Last month a Wall Street Journal editor asked a room full of CEOs to raise their hands if the corporate tax cut being considered in Congress would lead them to invest more. Very few hands went up. Attending was Gary Cohn, President Donald Trump's economic adviser and a friend of mine.
According to a poll from Public Policy Polling, 57 percent of Americans now approve of the Affordable Care Act. Only 29 percent approve of the GOP’s tax cuts. Reflect on those numbers for a moment. Republicans have managed to make tax cuts less popular than Obamacare. It’s impressive.
Sen. Bob Corker (R-Tenn.) had been consistent throughout the debate over the Republican tax plan: if the GOP proposal added to the deficit, he couldn’t vote for it.
Sen. John Cornyn of Texas, the majority whip, on Sunday said a tax provision, which could personally enrich key Republican lawmakers, was added to the final tax bill as part of an effort to “cobble together the votes we needed to get this bill passed.
The practice of drilling into the ground to release natural gas—known as hydraulic fracturing or fracking—first made national headlines in 2011 when drinking water taps in fracking towns in Pennsylvania began catching fire because flammable methane was seeping into water supplies.
Touting support for their tax cut legislation, House Speaker Paul Ryan, R-Wis., the Senate Finance Committee, and Sen. Rob Portman, R-Ohio, released a letter this week signed by 137 economists who say they strongly endorse the Republican legislation before Congress.
Kansas Republicans say they are worried that Congress and the Trump administration will repeat the mistake they made in enacting budget-busting tax cuts. The regretful Republicans of Kansas have a message for the tax-cutting Republicans of Congress: Don’t follow our lead.
Years of rapid home price appreciation along the northern Front Range will leave homeowners in the region more vulnerable to changes in the tax code now before Congress.
The leading voices cheering on the FCC took the most money from ISPs. What a coincidence! On Wednesday, 107 members of Congress signed a letter to FCC Chair Ajit Pai in support of his efforts to kill net neutrality.
WASHINGTON — Count commuters among the losers in the Republican tax bill that the House and Senate are expected to vote on next week.
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Jamie Stewart voted for Donald Trump, but she thinks the president is a “jackass.” She doesn’t really love to talk about what he’s doing or why she voted for him. MASON COUNTY, WEST VIRGINIA“They should take his phone away from him,” she says. “He posts stupid shit all the time.
Senate Minority Leader Charles SchumerCharles (Chuck) Ellis SchumerAmerica isn't ready to let Sessions off his leash Schumer celebrates New York Giants firing head coach: ‘About time’ GOP should reject the left's pessimism and the deficit trigger MORE (D-N.Y.
Yesterday, the Federal Communications Commission (FCC) voted 3-2 to overturn net neutrality laws. The vote was split along party lines.
Rarely, maybe once or twice in most presidencies, do bills like this come along: one that could profoundly affect every American person and business for decades. On Friday evening, Republicans released what they say is the final version of their “Tax Cut and Jobs Act.
After months of pressure from watchdog groups, the U.S. Department of the Treasury, led by Trump-appointee Steve Mnuchin, has released a one-page analysis of the Republican tax bill.
A substantial majority of Americans believe that rich people ought to pay more taxes. For example, consider public opinion about the “Buffett rule,” named after its most prominent backer, the billionaire investor Warren Buffett.
So, it seems that Republicans are responding to the devastating defeat in Alabama – which is part of a sustained pattern of underperformance in special elections, demonstrating that bad polls reflect reality, not bad polling, by … doubling down on a massively unpopular tax plan, whose main focus
WASHINGTON — As the largest tax rewrite in decades powered through Congress, lobbyists found themselves sprinting to keep up and find ways to persuade, influence or cajole the small group of lawmakers empowered to tweak language in the final version of the joint Senate and House bill.
Some House Republicans believe that Congress should cut Americans off government anti-poverty programs in part to help grow the national economy. “For us to achieve 3 percent GDP growth over the next 10 years from tax reform, we have to have welfare reform.
Thursday morning Senator Susan Collins wrote a strong letter to Federal Communications Commission Chairman Ajit Pai urging him to delay today’s vote to repeal net neutrality protections, becoming the first Republican Senator to directly urge him to postpone the vote.
A new report released Thursday finds that economic inequality has soared in nearly every country around the world, with the United States' income and wealth gaps widening to a particularly extreme degree compared to European and other countries.
Take a look at this map. What’s the first thing that catches your eye? If your reaction was “Wow, Walmart controls A LOT of the country,” you’d be right. This map shows the largest private employer in every state in the U.S., and Walmart is tops in an incredible 22 states.
President Donald Trump, with Rep. Kevin Brady, R-Texas, left, and Sen. Orrin Hatch, R-Utah, right, at a White House tax meeting on Wednesday. Manuel Balce Ceneta/AP After decades of chastising the idle, Republicans are pushing a tax bill that specifically advantages rich people who don’t work.
On October 24, 2016, in the final days of the presidential election, Paul Krugman, the Nobel Prize-winning economist and New York Times columnist, tweeted: When this election is finally over, I'm planning to celebrate with an orgy of ... serious policy discussion.
Financial firms have generally been slow to accept artificially intelligent stock pickers. They have already invested billions collectively to bring in quantitative analysts, who do major number crunching as well as develop powerful non-AI algorithms.
If you want to experience 2017 in a nutshell, check out the billion-dollar lawsuit filed by an oil and gas company against Greenpeace and other environmental groups for their roles in the Standing Rock protests.
On Thursday, House Republicans released their long-awaited plan to cut taxes by $1.5 trillion over ten years. If that bill becomes law, President Donald Trump and his children stand to make hundreds of millions of dollars.
(Image: Jared Rodriguez / Truthout) Grassroots, not-for-profit news is rare -- and Truthout's very existence depends on donations from readers. Will you help us publish more stories like this one? Make a one-time or monthly donation by clicking here. The US economy is caught in a trap.
What’s really going on out in America’s heartland? It’s a question we are constantly looking to answer. If you believe what’s being tweeted by Donald Trump, times have never been better.
BERKELEY, Calif. — The house at 1310 Haskell Street does not look worthy of a bitter neighborhood war. The roof is rotting, the paint is chipping, and while the lot is long and spacious, the backyard has little beyond overgrown weeds and a garage sprouting moss.
This week, the House and Senate will work to reconcile their different versions of the tax bill into something that president Donald Trump can sign into law. As they do, dozens of protests and rallies against the bill are being planned from California to Chicago to Staten Island, New York.
There are many ways in which the $1.4 trillion tax cut bill that Senate Republicans passed early Saturday morning—and the House’s version of the bill, which passed on November 16—disproportionately benefit America’s wealthiest citizens, and specifically the Trump family.
The wealthiest 1 percent of American households own 40 percent of the country's wealth, according to a new paper by economist Edward N. Wolff. That share is higher than it has been at any point since at least 1962, according to Wolff's data, which comes from the federal Survey of Consumer Finances.
CHICAGO (Reuters) - Traditionally, U.S. politicians avoid talking about cutting Social Security and Medicare close to election time. Midterm elections are around the corner, but Republicans are making no secret of their plans to go after these critical retirement programs.
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Richard Waters and Tom Braithwaite at the Financial Times ran the numbers yesterday and found that the Republican tax plan’s largest single winner is going to be Apple, which stands to reap a windfall of about $47 billion.
If the Trump administration has its way, the tip you leave your waiter or waitress could end up in the pocket of the restaurant owner instead of the person who served you.
Will sweeping corporate-tax cuts succeed in juicing the US economy and buoying middle-class wage growth? Most assuredly, says the Trump administration, with Congress poised to pass the Republican tax bill. History, however, suggests the opposite.
Representative Paul Tonko (D-New York) is furious about a secret addition to the Senate approved tax bill, and he is not alone.
In September, Congress let expire the Children’s Health Insurance Program, a bipartisan-backed program that covers millions of low-income kids whose families earn too much to qualify for Medicaid.
When profit motives “are considered more important than people,” Dr. Martin Luther King Jr. once declared, it’s time for the nation to “undergo a radical revolution of values.”
Republicans’ proposed tax reform is a bigger gift to corporations and the ultra-rich than most had anticipated.
President Trump’s new budget would increase defense spending by $54 billion — while slashing funding for medical research, climate science, public housing, education, aid to the indigent, infrastructure, and many, many other things.
On Friday, Senate Republicans rewrote the American tax code over lunch — and passed their (partially handwritten) legislation around 2 a.m. the following morning. Mitch McConnell never subjected his blueprint for restructuring the world’s largest economy to a single hearing.
Trump’s decision to cut more than 1 million acres from Bears Ears could permanently crimp the presidency’s ability to protect public land. They are known, in almost every local indigenous language, as “Bears Ears,” and when you look at photos, you can see why.
The lead author of the Senate Republican tax plan, Finance Committee Chair Orrin Hatch of Utah, said the federal government no longer has the money to fund the popular Children’s Health Insurance Program, known as CHIP. CHIP is an $8 billion program.
Republican Sen. Rob Portman of Ohio has been talking up the GOP tax plan like crazy. Too bad he's got his talking points all wrong. The bill will hurt Ohioans and particularly middle-class Ohioans. No talking points can alter that.
The last group the GOP wants to make enemies with is the far-reaching AARP. Republicans are currently working on their disastrous tax bill that the CBO says could add $1.4 trillion to the deficit and slam poor Americans.
Senator Orrin Hatch (R-Utah) is defending a children’s health care program he helped create, but if the federal deficit balloons by at least $1 trillion as predicted under the Republican tax plan he’s authored and shepherded through the Senate, programs for the elderly and the poor will likely
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This week, Sen. Orrin Hatch (R-UT) helped push a tax bill through the Senate that will cost about $1 trillion.
America’s rich have gotten richer for decades, while the middle class and poor have seen meager gains. Since the mid-20th century, the top 1 percent have more than doubled their share of the nation’s income, from less than 10 percent to more than 20 percent.
If you’re a Republican lawmaker in Oklahoma, you’re used to having pretty good job security. More than 70 out of 101 seats in the House of Representatives are controlled by the GOP; of the Senate’s 48 members, all but nine are Republicans.
As the tax cut legislation passed by the Senate early Saturday hurtles toward final approval, Republicans are preparing to use the swelling deficits made worse by the package as a rationale to pursue their long-held vision: undoing the entitlements of the New Deal and Great Society, leaving governme
The tax plan before Congress, though sold as broad legislation to reduce rates and end favoritism in the tax code, contains targeted provisions designed to benefit special interest groups, many of which maintain close ties to senior Republican lawmakers.
On Friday, Republican lawmakers spent hours scrambling to rewrite its sweeping overhaul of the tax code. Now, it appears that the new 479-page bill is finally circulating, nevermind that it’s just hours before the Senate is expected to vote on it.
Update | Florida Senator Marco Rubio admits that the Republican tax cut plan, which benefits corporations and the wealthy, will require cuts to Social Security and Medicare to pay for it.
At the heart of Philip Alston’s special mission will be one question: can Americans enjoy fundamental human rights if they’re unable to meet basic living standards?
There is a long-running, almost metaphysical, argument about the GOP’s deficit hawkery. One school of thought holds that it has always been pure cynicism. Republicans passed the Bush tax cuts without offsets and paid for neither Medicare Part D nor the Iraq War.
UPS has imposed new work rules that could force exhausted drivers to work up to 70 hours a week during peak. Drivers deserve a strong union response, not another Hoffa surrender. UPSers are already working brutal peak season hours and delivering record volume.
I have seen a lot in my life, but I don’t recall ever seeing anything like this. It’s a rushed hack job just to give the President and the GOP big donors a “win” when tens of millions of Americans stand to lose in the form of higher taxes.
Extremist leaders are proposing to give billions in tax breaks to the wealthy – by raising taxes for poor people, write the co-chairs of the Poor People’s Campaign Donald Trump and leaders in Congress are on the verge of enacting one of the most immoral pieces of legislation in our nati
With barely a vote to spare early Saturday morning, the Senate passed a tax bill confirming that the Republican leaders’ primary goal is to enrich the country’s elite at the expense of everybody else, including future generations who will end up bearing the cost.
WASHINGTON — In last-minute changes to the Republican tax bill, an array of senators’ wish-lists were added to the bill, including a unique tax exemption for a small Christian college in Michigan and a carve-out for cruise ships docking in Alaska.
Shortly after the 2012 elections, with Kansas Gov. Sam Brownback’s (R) radical economic experiment already underway, then-Senate Minority Leader Mitch McConnell (R-Ky.
It now appears he may have been lying, not just about the timing, but about the work itself.
First Read is your briefing from Meet the Press and the NBC Political Unit on the day's most important political stories and why they matter.
Just in time for a potential full Senate vote, we now have significantly more data about what exactly the Senate tax overhaul would do, and whom it would affect. In particular, we want to look at the latest numbers from the Congressional Budget Office.
While a House Republican proposal to tax the tuition waivers of graduate students may not be among the highest-profile Trump-era assaults on people of color, it represents a serious threat to racial equality.
The tax bill moving its way through Congress is routinely referred to as a $1.5 trillion tax cut. And, in some ways, that’s true: On net, it would reduce the amount of taxes collected by the Treasury by about $1.5 trillion over 10 years.
Senate Republicans passed a $1.5 trillion tax bill early Saturday morning that bestows extensive benefits on corporate America and the wealthy while delivering mixed blessings to everybody else.
Congress was supposed to extend the Children’s Health Insurance Program (CHIP) by Oct. 1. As regular readers know, that was the day current funding for the program, which has traditionally enjoyed bipartisan support, expired. That was exactly two months ago.
Senate Republicans started the clock for a final vote on their tax plan Wednesday evening, but among the unresolved demands from GOP waverers is a provision to prevent the bill from adding up to $1.5 trillion to the federal deficit over 10 years.
On Thursday morning, The New York Times revealed that Steven Mnuchin, the Treasury secretary, has been lying for months about Republican tax plans.
If Congress passes its tax bill and then takes no other action, the funding for dozens of federal spending programs could be cut — in many cases to nothing — beginning next year.
“There are two ideas of government,” William Jennings Bryan declared in his 1896 “Cross of Gold” speech. “There are those who believe that if you will only legislate to make the well-to-do prosperous their prosperity will leak through on those below.
Republicans who run the country now are giving them a raw deal. Roosevelt pretty much delivered.
The Senate will vote this week on a Republican proposal that reduces taxes by $1.5 trillion over the next decade, with the biggest tax cuts going to the richest Americans.
The internet is dying. Sure, technically, the internet still works. Pull up Facebook on your phone and you will still see your second cousin’s baby pictures. But that isn’t really the internet.
As more senators show signs of sacrificing their principles and embracing the Republican tax bill for minor and nebulous concessions, it bears looking more closely at the process that produced this terrible legislation and some of its lesser-known provisions.
Millions of senior citizens would see tax increases under the Senate's version of the GOP's tax reform plan, according to an analysis from the American Association of Retired People (AARP).
The Trump Administration claims that the tax cut going through the House and Senate will significantly boost the overall growth rate of the U.S. economy by so much that it will pay for itself through increased revenues. Take that assertion with a grain – or perhaps a barrel – of salt.
For years, Comcast has been promising that it won't violate the principles of net neutrality, regardless of whether the government imposes any net neutrality rules.
There’s rising worry that corporations are taking over America. But after reviewing a slew of the bids by cities and states wooing Amazon’s massive second headquarters, I don’t think “takeover” quite captures what’s going on.
I grew up in the 1950s, an era when many believed that our society would inevitably progress toward ever greater economic equality.
Donald Trump likes to declare that every good thing that happens while he’s in office — job growth, rising stock prices, whatever — is the biggest, greatest, best ever. Then the fact-checkers weigh in and quickly determine that the claim is false.
Three months ago, The Washington Post reported that even as Donald Trump ran for president, he pursued plans to build a Trump Tower in Moscow.
The Senate Republican tax plan would harm the poor while slashing taxes for the rich, according to a report from the nonpartisan Congressional Budget Office published Sunday. The CBO found that negative impact for Americans earning less than $30,000 a year begin as soon as 2019.
The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation’s poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office.
Alone in a locked metal cage, 10 feet from my nearest colleague, a robot approaches from the shadows and thrusts a tower of shelves towards me. As I bend to the floor then reach high above my head to fulfil a never-ending stream of orders, my body screams at me.
The plan would impose a 1.4 percent excise tax on college endowments at private universities….double the standard individual tax deduction, meaning much weaker incentives for charitable contributions to colleges….end student loan interest rate deductions….
Unless you’re one of a fortunate handful of people, it may surprise you to learn that the world’s economy has not only recovered from the global financial meltdown of 2008, but has grown 27% since then, to $280 trillion, according to a new report from Credit Suisse Research Institute.
It’s time to “strike back” against the undemocratic and unequal state of our own country and the Western world. Boats and yachts sit in the water as houses dot the hillside along Hamilton Harbour on Nov. 8, 2017 in Hamilton, Bermuda.
No doubt many of you read the above headline and immediately started to tweet that the GOP tax bill can’t be the end of economic sanity in Washington because there never was any to begin with. First…please do tweet that, and link to this post when you do.
Trump’s supporters backed a time-honored American political tradition, disavowing racism while promising to enact a broad agenda of discrimination. THIRTY YEARS AGO, nearly half of Louisiana voted for a Klansman, and the media struggled to explain why.
Republicans have been selling their tax overhaul plan as a major booster for the U.S. economy. In fact, they have argued that it would grow the economy so much that cuts would largely pay for themselves. But on both counts, top economists are doubtful.
For years, American companies have been saving money by “offshoring” jobs — hiring people in India and other distant cubicle farms. Today, some of those jobs are being outsourced again — in the United States.
The new analysis from the Urban Institute's and Brookings Institution's Tax Policy Center found that by 2027, 28% of Americans would see an increase in their tax burden due to the tax code overhaul proposed in the TCJA.
Not so long ago, conservative thinkers and Republican leaders were strong champions of private charity. George HW Bush talked about a “thousand points of light”, while his son created a new White House office to engage nonprofits.
Musicians have been asking me if the new tax bill passed by the House yesterday will have any impact on us. Yes, the legislation, if passed in the Senate, will greatly reduce the ability of professional musicians to deduct many of the expenses we incur in our work.
John Bowlby is the father of attachment theory, which explains how humans are formed by relationships early in life, and are given the tools to go out and lead their lives.
The House Republican tax plan includes a $1.5 trillion corporate tax cut and a giant tax hike on graduate students. Tamar Oostrom, who is currently earning her Ph.D.
The House Republican tax overhaul has already made a lot of enemies.
Finance support from basic accounting to complex financial oversight. Seasoned financial guidance, regardless of stage, industry or project scope.
Imagine if you, like President-elect Donald Trump, didn’t have to pay a nickel to support the government he’s now preparing to lead. Trump, who has refused (unlike every other presidential candidate in recent history) to release his tax returns, made his last known payment to the IRS in 1977.
It’s well known that teachers — even those who earn meager salaries — dig deep into their own pockets for supplies to do their jobs, with one study estimating they spend an average of nearly $1,000 a year on everything from pencils to batteries.
House Republicans’ determination to slash tax deductions for taxpayers and homebuyers in blue states has commanded most of the public’s attention since the unveiling of the GOP’s tax bill Thursday.
An economist reviewing the GOP tax overhaul plan says despite the view that lower corporate rates could boost growth, while reduced personal taxes would favor the rich, the reality of the reform plan falls somewhere in between. (Nov. 3) AP
I’m not the target audience for the Republican tax bill.
Kansas Gov. Sam Brownback is notorious for what is known as the Kansas experiment, a bold effort to assert the power of limited government. In 2012, the Republican governor pushed reforms through the state Legislature that dramatically cut income taxes across the board.
Both as a candidate for president and again as recently as mid-September, Donald Trump promised that his tax program wouldn’t help rich people “at all.” His Treasury Secretary Steve Mnuchin vowed as much in January.
If there's one thing President Trump's critics want from him, and he refuses to give up, it's his tax returns. The returns didn't come up during Wednesday's hearing in U.S. District Court for the Southern District of New York in Manhattan.
Financial industry groups and Democratic lawmakers are concerned that Republicans’ forthcoming tax-reform bill could make a big change to the taxing of retirement funds.
According to a new CBS News poll, almost 60 percent of the American public believes that the current Republican tax plan favors the wealthy. Some people see this number as a sign that the plan is in trouble; I see it as a sign that Republican lies are working far better than they deserve to.
A full-blown humanitarian crisis is still underway in Puerto Rico after Hurricane Maria devastated the island last month. More than 80 percent of the island is still without electricity, there’s a daily shortage of 1.
In the last 30 years, income inequality has grown at a rate that hasn't been seen since just prior to the Great Depression. As Occupy Wall Street sought to remind us, the top 1 percent of the US earns 40 times more than the bottom 90 percent on average.
NEW YORK — The message from the billionaire-led Koch network of donors to President Trump and the Republican Congress it helped to shape couldn’t be more clear: Pass a tax overhaul, or else. As the donors mixed and mingled for a policy summit at the St.
And there could be far-reaching consequences for the national economy too.
In Alabama, money keeps thousands of people away from the ballot box – and the state’s felon disenfranchisement policies are probably unconstitutional 07.30 EDT Last modified on Wednesday 4 October 2017 10.36 EDT Randi Lynn Williams assumes she will never be able to afford to vote again.
Here’s a question for you: How do you spell boondoggle? The answer (in case you didn’t already know): P-e-n-t-a-g-o-n.
Economic prosperity is concentrated in America's elite zip codes, but economic stability outside of those communities is rapidly deteriorating. What that means: U.S. geographical economic inequality is growing, meaning your economic opportunity is more tied to your location than ever before.
Nestled between a hair weave shop and Chinese fast-food joint in a South Side shopping center is a narrow storefront with a cardboard placard inside a glass door.
President Donald Trump’s chief economic adviser — Gary Cohn, the former Goldman Sachs president worth an estimated $266 million — appears to be completely clueless about what the average American family spends on a car, vacation or home improvement project.
President Trump on Tuesday said that Republicans' forthcoming tax plan will include "nearly doubling" the standard deduction and increasing the child tax credit. "We will cut taxes tremendously for the middle class.
Updated at 5:00 p.m. ET President Trump and GOP congressional leaders have outlined their plan for the most sweeping overhaul of the federal tax code in more than three decades.
The bedroom suites at President Trump’s Mar-a-Lago club, available only to members and their guests, feature hand-painted Moorish ceilings, antique Spanish-tiled mosaics and sweeping views of the Atlantic Ocean.
As one of the most powerful storms ever recorded bore down on the continental United States, with much of Florida under evacuation order, President Donald Trump was focused on a matter of grave urgency. He gathered his cabinet at Camp David and said there was no time to waste.
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The poor and middle class used to see the largest income growth. Note: Inflation-adjusted annual average growth using income after taxes, transfers and non-cash benefits.
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Some prominent Republicans are getting more vocal in their criticism of Donald Trump. Yet from the other side of their mouths, they continue to push for tax "reform" amid the growing chaos.
In the 1940s, ’50s, and ’60s, incomes for the poor and middle class grew faster than those of the rich. Then, in the 1970s and 1980s, something changed. In recent decades, the typical American has seen their income grow by 1 percent per year, often less, barely keeping up with inflation.
Politico has gotten hold of a transcript of Donald Trump’s interview with the Wall Street Journal a few days ago. It started out with a question about the Republican health care bill: MR. BAKER: What have you been doing, Mr. President, sort of behind the scenes?
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At first blush, basic income — a proposal where every American gets a regular stipend from the government, just for being alive — sounds like a radical, even absurd, idea.
BOISE, Idaho — Idaho achieved a notable distinction last year: It became one of the hardest places in America for someone to quit a job for a better one.
New data on the improving finances of the nation’s individual insurers are calling into question repeated Republican claims that Obamacare marketplaces are collapsing under the Affordable Care Act.
With 4.6 billion pieces of content produced daily, it might seem that our hunger for knowledge should be satisfied — but information production and distribution is not the same as consumption and it’s not as simple as just putting information out there.
A groundbreaking study estimates the real economic consequences that climate change would bring to the U.S. by the end of the 21st century. Economic disparity will grow, hitting the American South the worst, while the country’s wealth will shrink.
At $1.3 trillion, the student loan debt crisis has eclipsed both credit card and auto loan debt to become Americans’ second largest outstanding payment, behind only mortgage debts. However, an individual can discharge all of these types of debt by declaring bankruptcy save for student loans.
Editor’s Note: Makers versus takers. It’s the cliche dividing line between those of us who contribute to the economy and those who supposedly leach off it. The assumption is simple and stark. The former pay taxes; the latter don’t, and live off those who do.
Ask a typical industry analyst how long it might take Americans to take most trips in electric cars, and they might say the middle of the century–or later. The Energy Information Administration predicts that only about 3% of miles traveled in the U.S. in 2050 will happen in electric cars.
Imagine if the entire global economy could run simply on connected smartphones: no cloud, no servers,no central power, no government. This capability is coming, like it or not.
CLEVELAND — Seven out of the top 10 occupations in Ohio are now low-wage jobs, according to a recently released report. In 2000, four out of the top 10 were low-wage jobs, the analysis, based on U.S. Labor Department and other government data, showed.
Tee Miller’s clothing shop in Georgetown, South Carolina, survived the city’s worst fire since 1841, a massive blaze that received national media attention and nearly leveled an entire city block on the historic waterfront.
President Trump’s first major budget proposal on Tuesday will include massive cuts to Medicaid and call for changes to anti-poverty programs that would give states new power to limit a range of benefits, people familiar with the planning said, despite growing unease in Congress about cutting the s
What this report finds: This report assesses the prevalence and magnitude of one form of wage theft—minimum wage violations (workers being paid at an effective hourly rate below the binding minimum wage)—in the 10 most populous U.S. states. We find that, in these states, 2.
If President Trump and his supporters want to know how his proposed tax cuts will play out, they should look at what’s happened in Kansas since 2012. That year, Gov. Sam Brownback pushed through aggressive tax cuts very similar to what Trump wants Congress to do.
More than 35 American economists surveyed last week disagree with a basic element of President Trump’s proposed tax plan: whether it will pay for itself.
The House GOP health plan would repeal, starting in 2018, two Medicare taxes in the Affordable Care Act (ACA) that fall only on high-income filers: the additional Hospital Insurance (HI) payroll tax on high earners and the Medicare tax on unearned income.
Most rich countries besides the US have hit on a surprisingly simple approach to reducing child poverty: just giving parents money. This idea, known as a child benefit or child allowance, exists in almost every EU country as well as in Canada and Australia.
The sealing of America’s fiscal fate began in 1974, over cocktails.
The red flags and marching songs of Syriza during the Greek crisis, plus the expectation that the banks would be nationalised, revived briefly a 20th-century dream: the forced destruction of the market from above.
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America is regressing to have the economic and political structure of a developing nation, an MIT economist has warned. Peter Temin says the world's’ largest economy has roads and bridges that look more like those in Thailand and Venezuela than those in parts of Europe.
Lawmakers in about a dozen states are considering a bill that would block pornography from all new phones and computers unless consumers pay up. Backers of the porn tax plan to introduce it on the federal level this month.
SAN FRANCISCO – Today, during National Park Week, U.S. Secretary of the Interior Ryan Zinke announced that 2016's record visitation of 331 million visitors at America’s 417 National Park Service sites contributed $34.9 billion to the U.S. economy in 2016 – a $2.9 billion increase from 2015.
Undeterred by their failure to repeal the Affordable Care Act (ACA), Republicans look set to move on to the next item in Paul Ryan’s “Better Way” agenda—tax reform.
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I was visiting the Apostle Islands National Lakeshore, a 23-island archipelago in Lake Superior, when suddenly I found myself pining for Stockholm.
Americans’ top concern about the tax code is that they want corporations and wealthy individuals to pay more taxes. Even among rank-and-file Republicans, soaking the rich is at least moderately popular.
Education Secretary Betsy DeVos on Tuesday withdrew a series of policy memos issued by the Obama administration to strengthen consumer protections for student loan borrowers.
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It’s springtime, which means the start of the budgeting process for Congress and a mad dash for many Americans to file their income taxes. That makes it a good time to look at the federal government’s spending habits in a broader context than just this year’s battles.
Hilcorp Alaska on Saturday discovered a crude oil leak from an undersea pipeline connecting two production platforms in western Cook Inlet. The oil leak is on the west side of the inlet and is unrelated to the company's ongoing natural gas leak on the eastern side of the basin near Nikiski.
Wealthy get 80% of rewards from tax and welfare changes introduced by George Osborne that begin to come into effect this week Wealthy get 80% of rewards from tax and welfare changes introduced by George Osborne that begin to come into effect this week The richest will reap 80% of the
Rents have been rising faster over the last several years, and as a result, a new study says the affordability of rental units has declined, with black and Hispanic communities hit particularly hard.
Yesterday, President Trump signed an executive order to dismantle President Obama’s climate legacy and policies. The White House claims that these actions will help the economy in general, and coal workers in particular. It’s wrong.
The House of Representatives is preparing to vote on a health care bill that would take away insurance from 24 million Americans in 2025—the same year that it would give a tax cut of $57,570 to the average household making more than $1 million per year.
Last September, a very twenty-first-century type of story appeared on the company blog of the ride-sharing app Lyft. “Long-time Lyft driver and mentor, Mary, was nine months pregnant when she picked up a passenger the night of July 21st,” the post began.
Before taxes on the rich are cut and social programs decimated, uninformed conservatives should consider who really benefits from U.S. tax laws and assistance programs. The analysis starts with state and local taxes, which are often ignored by apologists for big-income tax cuts.
, 1969, Treasury Secretary Joseph W. Barr presented Congress’s Joint Economic Committee with a project years in the making: the first list ever compiled of all the tax code’s loopholes and exemptions. If they were eliminated, Barr said, government revenue would increase by about one-third.
Your browser is no longer supported. You can still use the site, but some features may not work as expected. Please consider upgrading to one of the following browsers. Chrome, Firefox, Safari, Opera or Edge / Internet Explorer. Following in Reagan's misstep.
One group that will really lose out with the Republican health care bill to repeal and replace Obamacare: the poor. Consider the bill’s uninsured penalty.
Protecting Donald Trump’s immediate family is costing American taxpayers millions and his sons' business travels are quickly racking up the bill.
For years, federal investigators have been scrutinizing Caterpillar’s overseas tax affairs with no resolution to the examinations of the complex maneuvers involving billions of dollars and one of the company’s Swiss subsidiaries.
There's a lot to appreciate about the Swedish company IKEA.
After seven years of grandstanding and hand-wringing, this is the best Republicans could come up with? The GOP answer to the Affordable Care Act was unveiled only yesterday, and it’s already about as big a hit as New Coke.
Most analysis of the American Health Care Act, the new House Republican plan for repealing and replacing Obamacare, has focused on the fact that it will take away health insurance from millions of Americans, including, eventually, millions of poor, elderly, and disabled Americans currently on Med
The Affordable Healthcare Act (AHCA), unveiled by House Republicans Monday night, dismantles (pdf) major provisions of the ACA, or Obamacare, and puts in place a system of age-based tax credits for individuals to buy insurance. It would "end Medicaid as we know it," as per Sen. Ron Wyden (D-Ore.
One feature of the American Health Care Act — Paul Ryan’s proposed alternative to the Affordable Care Act — is that, relative to Obamacare, it helps the poor less and the middle class more.
If you read articles about the sharing economy — and there have been hundreds of them over the past decade — you’ll often see a line that refers to “sharing economy companies such as Airbnb, Uber, and Lyft.
Let me begin by sharing with you the story of an inner-city Cleveland family of seven, two adults and five children all under the age of 11. The family did not own a home. They were renters. As the family grew, it became ever more difficult to find rent.
Our story so far: President Trump got good reviews for his speech to Congress on Tuesday, and that made him happy. Then it all blew up thanks to revelations the next day that Attorney General Jeff Sessions had met twice with the Russian ambassador during the campaign.
We now know the reason why Republicans tried to keep their Obamacare replacement bill a secret. The leaked bill would take away health care for millions of Americans and taxes health insurance. Politico reported on the secret House Republican plan: The latest draft, dated Feb.
During his address before a joint session of Congress earlier this week, President Donald Trump paused to introduce Denisha Merriweather, a graduate student from Florida sitting with first lady Melania Trump. Merriweather "failed third grade twice" in Florida's public schools, Trump said.
Congressional Democrats are hoping that growing concerns about Russian interference in American politics might get them a peek at President Donald Trump’s tax returns. Trump refused to release his tax returns during the campaign because, he said, he was undergoing an audit.
It turns out, members of Congress are flying around the globe a whole lot more. Veuer's Nick Cardona tells us just how much it's costing taxpayers. Buzz60
It turns out that EMAC deployments are not only opportunities for law enforcement to study up on counter-demonstration tactics, but are also pretty expensive.
House Republicans voted en masse to block a resolution that would have forced Trump to turn his tax returns over to Congress on Monday night. The measure was introduced by Rep. Bill Pascrell (D-NJ), a member of the House Ways and Means Committee.
Donald Trump is in the midst of scoring a real diplomatic coup. He’s driving Mexico straight into the arms of China.
President Trump will once again spend the weekend at his Florida private club, as his 4th straight taxpayer funded trip will set a record by spending more money on travel in a month than former President Obama spent in a year.
Despite the fact that it’s 2015, over the weekend the KKK marched down the streets of South Carolina, towards its statehouse, to show support for the confederate flag, a supposed symbol for the backwards heritage of idiot cowards nationwide.
Donald Trump’s regular jaunts to his Mar-a-Lago club in Florida appear to be costing taxpayers a small fortune.
President Donald Trump's sweeping crackdown on immigrants in the country illegally will strain an already tight U.S. job market, with one study suggesting that removing all of them would cost the economy as much as $5 trillion over 10 years.
Kansas Gov. Sam Brownback delivers his annual State of the State address on the floor of of the Kansas House of Representatives in January.Bo Rader/TNS/ZUMA
UPDATE: Ten people were arrested, and one protester was injured during confrontation with North Dakota police during evictions Wednesday. Forty-six more were arrested Thursday in a police sweep of the main protest camp.
The widely-popular Federal programs account for less than 0.0625% of the total budget. Security for the Trumps in the White House, Trump Tower, and Mar-a-Lago is estimated to cost more than the entire proposed budget for the NEA in 2017.
It’s possible that robots will take over some human jobs. In fact, it seems like it could be only a matter of time before they do. Increasing automation will lead to massive job displacement, and less people working means less employed citizens paying taxes.
The 2016 presidential election featured a lot of talk about our tax system—and especially about making the rich pay their fair share.
President-elect Donald Trump’s ultra-wealthy Cabinet nominees will be able to avoid paying millions of dollars in taxes in the coming weeks when they sell some of their holdings to avoid conflicts of interest in their new positions.
Donald Trump’s family’s trips have cost taxpayers nearly as much in a month as Barack Obama’s cost in an entire year. The US President’s three visits to his Mar-a-Lago club in Florida since his presidential inauguration, combined with his sons’ business trips, reportedly cost $11.
Americans voted for Donald Trump for a wide variety of terrible reasons. Some thought that the government should be run like a business.
On Friday, President Trump and his entourage will jet for the third straight weekend to a working getaway at his oceanfront Mar-a-Lago Club in Palm Beach, Fla. Meanwhile, New York police will keep watch outside Trump Tower in Manhattan, the chosen home of first lady Melania Trump and son Barron.
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What do you do when the Congressional Research Service, the completely non-partisan arm of the Library of Congress that has been advising Congress—and only Congress—on matters of policy and law for nearly a century, produces a research study that finds absolutely
Early last month, two weeks before he’d watch his father be sworn in as president, Eric Trump travelled to a seaside town in Uruguay to help sell condos that bear his family’s name.
Emboldened by the change of administration, GOP lawmakers are quietly making moves that would permit a potentially vast transfer of federal land to states and other entities. President-elect Donald Trump and his pick for Interior secretary, Rep.
In the ongoing battle to reach a consensus over the 2017 Congressional budget, cuts to food stamps are on the table in a big way. House Republicans, including Speaker Paul Ryan, R-Wis., are eyeing $23 billion in cuts to food stamps in the next decade, Roll Call reported.
 We have previously discussed the overall impact of the repeal of the ACA tax provisions in Chye-Ching Huang and Paul N. Van de Water, “Millionaires the Big Winners From Repealing the Affordable Care Act, New Data Show,” Center on Budget and Policy Priorities, December 15, 2016, http://www.
The final tally is in: 11.3 million new jobs were created under President Obama. The president is claiming a big victory on getting Americans back to work again.
Despite his promises, Trump can't bring back millions of basic manufacturing jobs when robots can do the same work cheaper. And coal jobs—which have been declining for decades—are unlikely to come back when natural gas and renewables are also now cheaper.
For most non-technical folks, “hacking” evokes the notion of using sophisticated technical skills to break through the security of a corporate or government system for illicit purposes.
Shavone Travick’s house means everything to her. The rooms are full of memories: the night when her daughter dressed up for high school prom, the good times when she cooked smothered pork chops for the family.
Ohio has the 10th most high-tech jobs in the nation, according to a recent report from a Washington-based group that advocates for science and technology policy.
Repealing Obamacare wouldn’t just end health coverage for 20 million people. It would also mean a significant tax cut for the wealthiest Americans. These tax figures are important for understanding why Republicans are so committed to Obamacare repeal.
President-elect Donald Trump campaigned hard on the ways in which he was going to help the middle class. But it’s the 0.2 percent of the country that pay the estate tax who are counting on him to get done what others could not: kill the “death tax.”
Tech innovators in the self-driving car and AI industries talk a lot about how many human jobs will be innovated out of existence, but they rarely explain what will happen to all those newly jobless humans.
Donald Trump ran on a series of impossible promises, but enough people believed he could deliver on them that he won the Electoral College. His supporters are in for what might be the rudest awakening in recent political history. 1
The 2016 election was a virtual tie, with Hillary Clinton narrowly winning the popular vote, while Donald Trump won just enough states for a majority in the Electoral College.
The US economy is changing — and not always in the ways people expect. Fewer people are working in the manufacturing sector, yet we're producing more manufactured goods than ever.
Tax-deadline season isn’t many people’s favorite time of the year, but most Americans are OK with the amount of tax they pay. It’s what other people pay, or don’t pay, that bothers them.
The arresting images on Stocksy.com are far from the standard fare found on many stock photography sites. Colorful portraits, unexpected compositions and playful shots greet visitors.
Webster’s defines productivity as "the quality or state of being productive." Helpful, no? While sometimes it’s hard to actually define what it means to be productive, most of us know productivity when we see it and, better yet, when we feel it coursing through our own veins.
Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.
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Basic income is having a moment. The governments of Finland, Ontario, and Utrecht are all launching tests of the policy proposal, under which everyone in a given country would get a set amount of money every year, no strings attached.
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The immediate crisis may have passed, but most Americans still haven’t recovered from the worst economic disaster since the Great Depression. Wealthy Americans, on the other hand, are doing better than ever.
Thanks to Vermont Senator Bernie Sanders’ proud identification as a Democratic Socialist and allusion to Denmark as an ideal social democracy, Denmark is being discussed throughout the news media.
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This post has been edited to correct an overestimation of taxes under Bernie’s Social Security tax plan. A detailed log of changes is available on Github (04/21/2016)
Bill Moyers has done some great essays on money in politics corruption in his time, but this might be his finest work to date.
Politics 809 Politics 3.0K Politics 2.
The report, “Rewriting The Rules Of The American Economy: An Agenda For Growth and Shared Prosperity,” has just been released by The Roosevelt Institute, where Sen. Elizabeth Warren and New York City Mayor Bill de Blasio joined its chief economist Joseph Stiglitz at its press conference.
For the past quarter-century—at least since Bob Kuttner, Paul Starr, and I founded The American Prospect—I’ve offered in articles, books, and lectures an explanation for why average working people in advanced nations like the United States have failed to gain ground and are u
Photo Credit: via YouTube/Moyers & Co. Someone I met in North Carolina a few weeks ago told me he had stopped voting because elected officials don’t respond to what average people like him think or want. “They don’t listen,” he said.
News from the Kochs and Jeb Bush suggests Citizens United is destroying the U.S. even quicker than critics feared Except for being old white guys from California, Supreme Court Justice Anthony Kennedy and tech billionaire Gordon Moore don’t appear to have much in common.