Taxes

Bernie Sanders Took on a Trump-Supporting Trucker on Live TV. Guess Who Won That Battle?

Sens. Bernie Sanders (I-VT) and Ted Cruz (R-TX) faced off in a CNN debate over the proposed GOP tax plan Wednesday night. In a candid moment with a …

Bernie Sanders

Trump teases Senate vote on 'first step toward massive tax cuts', says GOP may have enough votes 'but who knows?'

• <b>On Thursday, the Senate is expected to vote on its budget resolution, a key step towards tax reform.</b>• <b><br>President Donald Trump teased the vote on Twitter, saying of he thinks the GOP has "the votes, but who knows?"</b>• <b><br>GOP Sen. Rand Paul is the only Republican projected to vote against the measure.</b><p>President …

Rand Paul

Trump jokes to senators about releasing his tax returns

<b>Washington (CNN) —</b> President Donald Trump quipped about his tax returns Wednesday while meeting with a bipartisan group of senators on tax reform, according to multiple sources.<p>A source familiar with the meeting said that Trump flippantly made a comment along the lines of "'you might see my taxes …

Politics

Americans Are Gravely Mistaken About The 'Death Tax'

The estate tax only applies to the richest 0.02 percent of households.<p>WASHINGTON ― Whenever a small business owner dies, a cruel tax man swoops in on his mourning family with a hefty bill, forcing the children of farmers and mom-and-pop shops to sell off the family business to pay the …

News (U.S.)

Trump: Senate budget vote 'first step towards massive tax cuts'

President Donald Trump said Thursday morning that the Senate’s scheduled vote on budget legislation is a “first step towards massive tax cuts,” but cautioned that a successful floor vote is not necessarily assured.<p>“Republicans are going for the big Budget approval today, first step toward massive …

U.S. Congress

Corbyn says Brexit must not be used to turn UK into a tax haven

BRUSSELS (Reuters) - Jeremy Corbyn, leader of the British opposition Labour Party, said on Thursday he would fight any attempt by Prime Minister Theresa May’s government to use Britain’s exit from the European Union as a way to turn the country into a tax haven.<p>Corbyn, who was speaking to a meeting …

Brexit

I've seen how the EU tackles tax evasion versus the US – and if Brexit Britain follows Trump, we're headed for disaster

The Panama Papers scandal last year shone a light on the extent and pervasiveness of tax avoidance that exists around the world. It revealed that …

Brexit

Mum who enjoyed holidays in America and had plastic surgery jailed after dishonestly claiming £70k in tax credits

A former student nurse who fraudulently claimed more than £70,000 in tax credits lived a “lavish” lifestyle, enjoyed holidays with her husband, …

News (Wales)

Amazon offered billions in tax breaks for second U.S. headquarters

(Reuters) - U.S. cities are offering Amazon.com Inc (AMZN.O) at least as much as $7 billion in tax breaks ahead of a Thursday deadline as they compete to house its second headquarters.<p>The world's largest online retailer has won promises from elected officials who are eager for the $5 billion-plus …

United States

Democrats left their big tax reform meeting with Trump extremely dissatisfied

• <b>President Donald Trump invited members of the Senate Finance Committee to the White House on Wednesday.</b>• <b><br>Republicans are going to use the reconciliation process to try to pass tax reform without Democratic support.</b>• <b><br>Democrats feel left out of the process, which they say is antithetical to a bipartisan</b> …

U.S. Congress

What’s Even Scarier Than Donald Trump?

Donald Trump’s flailings are ever more terrifying. In the course of a few days, he tossed a grenade into the health-care markets that millions rely …

Liberal View

You Shouldn't Get Fooled By IBM

IBM managed to beat the analyst consensus once again -- not due to its great operational results though.<p>The growth outlook is not good, as cloud …

Stocks

Amazon Has Built Site-Hunting Expertise With In-House Team

Amazon.com Inc. is no novice when it comes to getting good deals.<p>As the Seattle-based company is set to close on Thursday the request for proposals for its second corporate home, its in-house economic development team shows how important tax-incentive deals have become to its business model and …

Business

Let’s All Hope New York Gets Outbid for Amazon

Today is deadline day for bids to become the home of Amazon’s new second headquarters, and New York City is among the dozens of cities and states …

New York City

Steven Mnuchin: Of course tax cuts will help the wealthy!

Mnuchin also has a threat for anyone who doesn’t want Trump’s massive tax cuts<p>President Donald Trump's treasury secretary has basically admitted that, despite his previous statements, the new tax reform bill will include cuts for the wealthy.<p>"The top 20 percent of the people pay 95 percent of the …

Liberal View

Trump urging House Republicans to pass Senate budget as shortcut to tax reform

President Trump has begun calling House Republicans to urge them to pass the Senate budget without going to conference, according to three sources …

Politics

Democrats Must Be the Party of No

Time to take a page out of Mitch McConnell’s playbook and try to make Trump a one-termer. The surest way: Beat him and the GOP on tax reform.<p>Congressional Democrats need to start channeling Mitch McConnell from 2010, who said then: “Our top political priority over the next two years should be to …

Politics

Trump Could Get a $23 Million Tax Cut Under the GOP’s Plan, Study Says

President Donald Trump’s tax framework could save him and members of his cabinet tens of billions of dollars in taxes collectively, according to a …

Business

Why tax cuts won't generate as much economic growth as Trump hopes

President Trump and congressional Republicans talk about their tax overhaul plan as if it’s a sure-fire bet for the economy.<p>Far from it. There’s little historical evidence that tax cuts actually pay off in boosting economic growth long-term.<p>And today’s combination of high federal debt and a tight …

Economics

Trump Says He Wants Bipartisan Tax Reform Process

“President Trump suggested at a meeting with senators that the Senate create a bipartisan working group for tax reform, surprising Republicans who’ve …

Elections

Trump tax strategy: cut a few compromises but don't count on Democrats

WASHINGTON — President Trump's upcoming push for his tax cut plan next month will include compromises that will limit some of its current benefits for the nation's richest taxpayers, according to White House officials.<p>The compromises will include ending a 23.8% preferential tax rate for hedge-fund …

News (U.S.)

Trump suggests bipartisan group on tax reform

President Trump floated the idea that senators should start a bipartisan working group on tax reform during a closed door White House meeting on …

John Cornyn

Senate Begins Tax Debate by Elbowing Democrats on Perks for Rich

Senate Republicans kicked off their tax debate Wednesday by killing two Democratic proposals that sought to draw a line against tax breaks for the …

Business

Despite Trump Opposition And Misinformation, Senators Haven't Given Up On Obamacare Deal

Trump does like to change his mind.<p>WASHINGTON ― It took President Donald Trump less than 24 hours to go from opposing Obamacare subsidies, to supporting them, back to opposing a bipartisan deal on them that would lower health insurance premiums. But senators on Wednesday seemed to think there was …

News (U.S.)

Senate poised for crucial vote related to tax reform measure

WASHINGTON (Reuters) - President Donald Trump's drive to overhaul the U.S. tax code headed for a pivotal moment on Thursday, with Senate Republicans poised to approve a budget measure that would help them pass tax legislation without Democratic support.<p>The Senate and the House of Representatives …

U.S. Congress

Why Amazon's new headquarters won't guarantee economic boon

Cities across the country are falling over themselves to score the winning ticket in the biggest local lottery ticket — Amazon's second North …

Business

IBM prepared for 3% tax rate swing from reforms

IBM (IBM) has maintained its ongoing operational tax rate expectations of 15%, plus or minus three points, as tax reform discussions continue in the United States.<p>This tax rate forecast was issued in January 2017, when the company provided its EPS guidance. That range was widened due to President …

Markets

Cutting company tax costs money and middle income earners will pay

The government remains determined to cut the company tax rate. If only it was so easy to spur investment<p>The Reserve Bank assistant governor Luci Ellis this week suggested lowering the company tax rate was not as important for driving investment as is argued by the government and business groups. It …

Economics

Rand Paul Is Right on the Budget (and Tax Reform)

Posted: Oct 18, 2017 1:36 PM<p>Congress is a mess and the current leadership is to blame.<p>The first 100 days of Trump’s presidency were a lost …

U.S. Congress

Assessing the Appetite for Tax Reform on Capitol Hill

Bloomberg Markets<p>October 18th, 2017, 5:53 PM UTC<p>Bloomberg's Sahil Kapur reports on the prospects for U.S. tax reform on "Bloomberg Markets." (Source: …

Business