36 Burst results for "Corporate Tax"
Fresh update on "corporate tax" discussed on This Week in Science
"Gonna show charging you're gonna charge norway for not having run the heater in the winter. No nobody's doing that. What is charging norway. And i guess. I mean the question is how how are who i mean. This isn't the science of it. This is the implementation of tax policies. But who will decide on gets taxed and when they get taxed and how much they get taxed and who is going to do is this and if they're talking about local and regional taxes. I am pretty sure that you know the local government in Fall barred sweden is not going to be Saying yeah we should tax ourselves for the nice weather and you know the The dim the melted snow. That we have up here. No is good. So there's is losing They could A national carbon tax music collect funds from greenhouse and fitters horse It's you know we end up paying those taxes in taxes. Taxes is everybody cosco's up for the taxes anyway. That's usually what happens. Those revenues would first and foremost used to compensate victims somewhere. Somebody defining victim is again. You're right it's a. This is not a specific plan. In addition a corporate tax would be levied on sectors of the economy that gain passively from climate change. Which in a way you can imagine that being well your solar panels and your wind farms doing well because we've been transitioning due to climate change too.
Gov. J.B. Pritzker Delivers State of the State and budget address in Chicago
"Delivered his state of the state budget address this afternoon. His budget proposal eliminates nearly $1 billion in corporate tax loopholes. Old state spending levels flat, includes new federal money for education and does not include a tax increase. This will be one of the most challenging budgets this government has ever had to craft, but I know there are willing partners in the General Assembly. Compromise, hard work and a willingness to make tough decisions is going to be required of all of us. The state is currently facing a $3 billion budget deficit.
How to Create a Safety Net For Your Business
"I decided to do this lesson today. Because i hear from so many entrepreneurs about the stresses of running a business. The stresses of the unknown the stresses of the market whether it's a market crash or a pandemic or in some cases in some places in the world war these things can affect economies can affect your market can affect your business for an indefinite amount of time. You don't know how long that slumps gonna last. When covid started people thought. Oh this is going to be all done and dusted in a couple of months for good year in and people still don't know how long this is going to affect our lives and of course our businesses. So what you do when the inevitable will happen for talk about change things will change around your business in your environment in your market. One of the best things you can do to set yourself up to have that safety. Net is to make sure you have healthy profit margins. I know sounds very obvious. But this is just the first step. And he's gonna allow you to feel a little bit more comfortable. You should be working on building a war chest of funds for your business. This is not just for a rainy day. But it allows you to have a fallback something that you can use to pivot in your business just in case you have to reinvent yourself. This is what apple is so powerful. They have over two hundred and forty five billion dollars in cash in the bank. Why do you think. Apple doesn't just reinvest that money to make more money to build more products to hire more people. Will they know this rule. You have to have a safety net. Even apple is not totally immune to the things that can happen to them. Now i'm not asking you to have two hundred forty five billion dollars in the bank but the healthier margins the more likelihood you'll be able to have some cash reserves if you're self funded business a two one ratio should be your minimum meaning for every dollar you spend. You should be making to that means at the end of the month. You should be making double what you spent that month. Which means you have the equivalent of what you spent that month in cash. Leftover that you can put in the bank and safe now. Of course that's going to be counted as a prophet come tax time but your corporate tax are going to be a lot less than your income tax than if you just pocketed the money now. Having cash reserves is not as good. Because you can use that cash. If you need to create a new product to pivot you need to change but also by having some surplus having some cash in the bank Lenders are so so more likely to give you a line of credit. That will extend your runway that will extend your likelihood to be able to reinvent yourself like we say money is the oxygen of any business so the more of an extra reserved tank. You have of oxygen the better because things might be going well right now and they could go better but they could go worse to gotta plan for those rainy days or months or even years. Sometimes sometimes abysses can take a slump and then come back. It could be the market. It could be the fact that they're still doing. Research and technology is not there yet but it will be a couple of years. It could be that. They took a hit on their brand. And then you some time to recuperate. So that's the finances okay. But that's not all there are other liabilities in your business that you may not be aware of like the people that you work with the people that you hire. What's your safety net. What's your backup plan. If your top engineer leaves you or decide to retire what do you do if your best copywriter decides to part ways or your social media marketer Decides to work for different company. Can't be seen a panic and you can't allow your systems or your business to just totally stop doing. What only does because somebody's leaving. This is why systems are so important in a business when you're building a business or building a set of systems and you want to document these systems in what we call. Soap's standard operating procedures is literally. Google docs writing out exactly how to do. Every task in your business and the person who does every role so say for example the customer service manager in your accompany their job other than being the customer service manager is creating an sap for their job. This is gold. This is one of the biggest assets you can build your business because that way everybody can live and breathe comfortably. Why because save for example somebody in our company leaves. You have a playbook to give somebody new and say hey. This is how you do your job. This is what was done Before this is what your predecessor was responsible for in this. How did it so building and soap's in your business creates a layer of safety just in case something happens and by the way something will happen. People will leave your business. This is the nature of employment people. Move on next if you can afford it especially in the most critical positions in your business have some redundancy so for example if you're in the service industry and you service people on the phone then is a good idea to have more than one. Customer service agent right. Just get somebody leaves you. You don't have any agents left. You have a few backup right. You have people that are trained up and can do the job. They might have to do some extra hours. But you're not left high and dry if you're running a software company. He's redundancy in the engineering department. This creates a safety net okay. You're don't lose nights of sleep if somebody leaves your company next. Is your critical tools. Have some redundancy with your tools. And i'm talking about just the major once. You don't actually have to buy these tools to have the research and know what's available so if you need to switch out you know exactly where we're going. What are your backup tools. What's your backup website servers. What's your backup domain name registrar. What's your backup payment processor. If you have to change things around if you have to swap out which ones are they just going to be a list people that you've already vetted you don't have to do any homework afterwards when switch. You're ready to go.
Biden's Econ Plan: 3 Indicators To Watch
"Okay three questions about the biden. Economic agenda question one will the us labor market get back to where it was before the pandemic the indicator will be watching to answer. This question is simple. Three point five percent. That was the unemployment rate about a year ago right before the brutal covid recession. And it's easy to forget now because it seems so long ago but that three point five percent unemployment rate was the lowest unemployment rate in half a century but now the unemployment rate is six point seven percent and the labor market is actually worse than even that number implies because the unemployment rate doesn't count people who have given up looking for jobs either because they had to stay home to take care of kids or relatives or because they got discouraged and hopefully a lot of those people will start looking for jobs and getting them in the coming months and years as the economy reopened and if the unemployment rate can get back down close to three point five percent again or maybe even lower than that it will be a sign that the labor market has recovered. And there's a lot riding on this. A strong job market leads to other favorable trends for example before the pandemic households of all incomes and backgrounds including all racial and ethnic backgrounds were getting raises decent raises income inequality was falling as a matter of fact and the poverty rate had gone down for five straight years. That's all largely the result of a tight labor market a strong labor market. And so. that is the question that we're going to be asking questions. Will the labor market make a comeback question number two. how much will the biden administration reverse. Parts of the trump economic agenda there are a couple of different indicators that we will be paying attention to first up taxes yes remember. Before the pandemic the most significant economic legislation that was passed during the trump ears was the tax cuts and jobs act which had been passed at the end of twenty seventeen and there was a lot in that bill but maybe the most important part was a big cut in the tax rate paid by american corporations yes so the corporate tax rate went from about thirty five percent of the money corporations made each year all the way down to twenty one percent. That was a major overhaul of the tax code. So that is the number that we are going to be following because president biden campaigned on raising the corporate tax. Not all the way back to where it was before. President trump took office. But you know higher than it is now the other indicator. We're going to be watching to see how much the biden agenda undoes. The trump agenda is about the trade war with china. The trump administration raise the average tariff on chinese imports to the us from about three percent to more than nineteen percent last year. Will those terrorists go back down. That's the question we're asking and the answer is not necessarily or at least not immediately for now. President biden has only said that he is going to consult with allies other countries in europe and asia about how to deal with china and keep in mind that right now actually is still a lot of bipartisan support. In the us to continue being tough on china and china itself is viewed very unfavourably in a lot of countries that are allied with the us that's largely because these countries believed that china did a bad job of handling the outbreak of corona virus which originated in china before spreading out so there is a chance that the trade war with china will continue and an easy way to see if it does is to follow the average tariffs on chinese imports and check to see if they stay roughly where they are and finally question three. How much money will the federal government as part of the biden agenda so far the biden administration is communicating. That is comfortable borrowing more money through the treasury market to finance. Its spending plans. And here's one of the arguments that the biden administration is making it saying that now is actually an appropriate time for the government to be borrowing more money in order to provide economic stimulus investments for example. Here's janet yellen. President biden's pick for treasury secretary during her confirmation hearing on tuesday but right now with interest rates to restorick lows. The smartest thing we can do is act big. Here's what janet yellen means because interest rates are so low yellen arguing that it is cheap for the government to payback that debt so that the government should borrow money now to boost the economy. The national debt. Going up there for at least for a little while won't be a sign of failure to the biden administration. It'll just be a sign that it is pursuing its goals. So here's the indicator we're going to be watching the national debt to gdp ratio this ratio compares the amount of money that the government owes to the value of everything the economy produces in a single year during the trump. Here's the national debt to gdp ratio has gone up from roughly seventy five percent to where it is now which is close to one hundred percent into big amount of the rise in the debt was because of the money that was spent in response to the covert recession but even so that is the highest amount of debt as a share of the economy since just after the second world war. And here's why we'll be watching the national debt to gdp ratio closely. There has been a fascinating debate within economics in recent years. A lot of economists have become more comfortable with the federal government running up higher debts saying it is not as dangerous as economists once believed but other economists disagree they worry for example that running up too much debt will lead to much higher inflation or that it will lead to interest rates going way up if the investors lend money to the government. Start getting nervous and with the national debt now forecasted to go higher than it's ever been as a share of the economy. We're going to get a chance to find out who's right so either way it's going to be a fascinating experiment to watch and that is what we plan to do. We'll be watching. Feel free
Proposed corporate tax hike in California would aid homeless
"Democrats are proposing legislation legislation to to increase increase taxes taxes on on corporations corporations to to build build homeless homeless shelters shelters cave cave because because Nick Nick Um, Um, a a guy guy who who says says details details corporate corporate tax tax hike hike would would raise raise more more than than two two billion billion each each year year to get people off the streets. Supporters say it would reinvent California's approach to solving the state's homeless crisis. While opponents argue the bill would contribute to the perception that California is hostile to business,
Leadership Amid Chaos
"In the wake of wednesday's violent breach of the us capital business leaders have spoken out. Condemning the rioters effort to disrupt american democracy. Some of those leaders like famed activist investor. Nelson confessed that his support for president. Donald trump is a mistake. What happened yesterday is a disgrace than i as an american. I'm embarrassed you know. I didn't vote for trump in sixteen. I voted for him in this past election november. Today i'm on sorry. I did that. The national association of manufacturers a trade group that has been supportive of the president's economic agenda went out in front wednesday calling vice president pence invoke the twenty fifth amendment and begin proceedings to remove donald trump from office and keep him from ever running again over the last four years and this last year of two thousand twenty in particular business leaders have weighed in on politics again and again corporations and our public spheres are intertwined like never before. We've seen the very richest of americans billionaires express preference for candidates. Investors like stephen ross. Peter thiel and new york real estate developer. Richard lefrak have all unapologetically supported. President trump over the years pailin tear. Ceo alex carb famously aligned himself with the trump administration in the company's preliminary ipo filing august of twenty twenty. He called out fellow silicon valley giants for being unpatriotic. His company has contracts with the pentagon an ice but this week speaking to the washington post carp struck a different political tone. There's certain monica of adult leadership necessary to run a significant organization of any kind whether it's a university newspaper a church synagogue or mosque this this is below that line and we shouldn't tolerate in some ways. Donald trump may have helped bring these people deeper into the political sphere. These business leaders one's who've praised him and ones like apple's tim cook who quietly worked with him have proved crucial to the president's efforts and successes in office from woohoo market tweets to corporate tax cuts to president trump's unorthodox involvement in corporate dealmaking. We're looking at you tiktok so all this means what ceos have to say matters
Democratic Control of Congress Would Bring New Risks for Stocks
"Watching developments around georgia's senate runoffs with these elections set to determine control over the chamber and the balance of power in congress so far investors have largely assumed that republicans will maintain control of the senate albeit with a very narrow majority given. The party's recent tendency to wins in seats especially in off cycle elections still polls so far have shown a razor thin lead for both democratic candidates voting for the elections ends on tuesday georgia assigned republicans. So far have fifty seats in the senate. Democrats forty eight meaning that a democratic sweep of both seats in the state would give them a majority. Since vice president-elect kamla harris would be able to cast tie-breaking votes under a republican controlled. Congress president elect joe biden would have limited latitude to advance many of his campaign promises including raising corporate taxes and minimum wages and unveiling reforms around education housing and climate change which could all impact various pockets of the market but under a unified democratic government. A larger additional stimulus package that could further boost the economy in the near term. Might transpire a senate with a democratic majority with the to greater fiscal stimulus. We would expect around six hundred billion dollars more on top of the recently enacted nine hundred billion dollars but would also likely mean tax increases to finance additional spending goldman sachs. Economists led by jahn hotseat said a note tuesday regarding the ladder we would expect that an evenly divided senate would approve only of the tax increases. The biden campaign proposed for markets oppenheimer. Strategist john. stolis said in a note monday. He believed democratic. Sweep in georgia could spark and as much as ten percent decline in the s. and p. Five hundred from year end closing prices.
Apple Leads Big-Tech Slump With Worst Drop Since October
"Here was the headline of bloomberg piece. Highlighted by philip elmer. Dewitt's apple three dot o. Leads big tech slump with worst drop since october quoting the bloomberg piece. I bled shares of the largest technology companies lower in the first trading day of the year suffering its worst decline in more than two months amid abroad market selloff couple of things actually a few things first of all apple lead is an interesting term. It's not that investors were selling apple and others started selling other stuff following. The apple lead more like any shift. Apple represents a lot of money given the company's phenomenal size to the numbers and the story were posted mid day when shares were at their lowest according to bloomberg shares of the iphone maker fell as much as four point. Five percent on monday on track for its biggest drop. Since the thirty first of october amazon microsoft alphabet and facebook shares all fell at least two point six percent compared with the two point five percent decline in the s. and p. five hundred but none of those numbers held by day's end the s and p five hundred was only down one point. Four eight percent alphabet was down one point. Three five microsoft was down two point. One three percent amazon did stay down. Two point six percent and apple recovered from its four point. Five percent drop ending down only two point four seven percent and thing number three. The real story is the broad market selloff mentioned in bloomberg's tech centric piece two pieces from cnbc. Tackle that broad market selloff. One of those starts with the line. Stocks dropped on monday the first trading day of twenty twenty one amid concerns about global corona virus cases and the georgia runoff elections. That piece gave roughly equal attention to those two issues on the co bedside. There was talk of the more stringent lockdown announced the u. k. As well as issues getting vaccines and the arms of people here in the states as for the political side. There's apparently worry on wall street and does among some investors that both democratic candidates prevail in the georgia runoff today. Corporate tax rates could go up which i guess would mean the end of days or something.
Trump Asks Congress to Amend Covid-19 Package, Boost Direct Payments
"President Trump is demanding changes to the coronavirus relief package passed by Congress and an online video trump, saying the direct payments to Americans should increase from $600 to $2000. He also slam Congress for what he said was unnecessary funding for foreign countries that was included in the $900 billion measure. Package of business tax breaks that could cost more than 14 billion was approved Monday by the Legislature. Senator Anthony Bukos says it's far from perfect. But then given the state's high corporate tax rate, the plans necessary nothing is not an option. We simply won't be competitive. If we don't stop something like this bill today, with all its faults and imperfections, many lawmakers grumbled about the process, but in the end 90% of them voted
N.J. Approves $14 Billion in Corporate Tax Breaks in Less Than a Week
"Approving a corporate tax incentive plan costing over eight billion that would end up mired in controversy. The state legislatures approved an even bigger program, perhaps more than 14.4 billion in the coming year. If every tax break is approved and awarded, the plan provides more than $1.7 billion a year for corporate tax incentives, Senator Pulse Arlo says the bill addresses the shortcomings exposed in the last tax incentives Law bill that we are going to need In order to survive in order to stimulate our economy, generate their economy and incentivize our economy going forward post pandemic, The Assembly passed the bill 68 to 11. The Senate passed a 38 tow one with only Senator Mike Doherty opposed. I see a very complex is quoting capitalism Plan here at the Statehouse. Michel Simon Stew Jersey one of 1.5 News, Somebody jersey's first
U.S. stocks close sharply higher as markets look beyond Election Day
"This election that is going down to the wire with Joe Biden looking like he may be just about ready to pick up that that victory. Or ring that victory bell. I guess I'm trying to say Doug is really affecting the markets. I wanna get right back to you to talk about stocks today and we're seeing now is this carries over to Asia right? And the fact that this blue wave that everybody was talking about last week failed to materialize, and it looks as though it least at this point that we're going to get A Democrat, Republican controlled Senate. And if you're right, Kathleen, and at this point, you're probably close to being right. If you look at what the data is saying so far on a Biden presidency It yields divided government right and that's a good scenario for the market is one thing that it does. It's reduces the chance that we're going to get any rollback in corporate taxes. At the same time, it kind of reduces the bet for a massive stimulus program. And if you're a fiscal hawk, this is good for you. And if you're the bond market than you have to take out that reflation trade, which is what we saw today, the yield on the 10 year falling 12 basis points and if you go back to, I think where we were in the last 24 hours on the 10 year. A 20 basis point moved from the high to the low. That's like the Fed cutting rates by a quarter point nearly right now in the Tokyo session where it's 75 basis points, we had a rally in US equities today, the S and P up 2.2%. Let's pivot to Asia very quickly. The Nikkei higher by 1%. Right now, we are also seeing much stronger. Japanese CNET 10 for 30 against the dollar The G bone bank Japan, October Services. PM I above the number that we saw in September. The current reading 47.7 and you look at the composite PM I also up from the September reading. The current reading at 48 W T I crude oil showing some weakness here at 38 70. So Kathleen, There is a lot going on my favorite
Comparing Trump and Biden's plans to end the COVID-19 pandemic
"Biden ends up winning the presidential election, he'll have plenty of campaign promises to live up to that includes lofty goals. The former vice president has said he'd get started as soon as he's sworn in. If I'm your president on day one. We'll implement the national strategy I've been laying out since March would develop. And deploy rapid test with results available immediately. Five the honor of being president. I will end the Muslim ban on day one. I'd make the changes on the corporate taxes on day one day one I'm sending to the United States Congress, a immigration bill providing a pathway for 11 million undocumented, and I'm gonna make sure every dreamer is protected. I'm gonna have to wait and see whether a potential Joe Biden administration can actually hit the ground running on all of those policies for more. I'm joined by Jennifer Epstein Political reporter covering the Biden campaign for Bloomberg News, Jennifer Thanks for being with me. Thanks for having me. President Trump has downplayed the severity of the Corona virus, even after contracting it himself. But Joe Biden said he'd make some big changes if he became president. What would he do differently? It goes from from everything from encouraging mask wearing by leading by example on that, as he has during the campaign wearing a mask himself. All the time, except for when he's kind of out of microphone, socially distanced from anybody else on stage, launching a whole of federal government response to the pandemic that Would be aggressively different. I think than the trump planet he would not be fighting with from the scientists. He would be listening to them, he has said. Deploying the resources of the federal government. He plans to use the Defense Production act more aggressively than President Trump has to kind of get industry to do its part, whether it's with Peopie production. For vaccine production down the line. He has a plan for the distribution of the vaccine, even just it in defending the affordable care act. He says that that will make Vaccine distribution easier and free and also will protect people who end up having long term health. Issues because of their covert cases, long issues or or whatever else So it really is A is a pretty comprehensive approach. Um, that touches on a whole lot of different areas. I think you know it's the public health response and then obviously also an economic response. He says that he will Talked to governors and mayors. About mask wearing to try Tio encourage them, Tio put in their own mask mandates. Hey, can't you know really order a federal mandate kind of some of the stuff that the trump people have said. But he can certainly encouraged mask wearing as I said, before, it seems like he really just wants to bore down in every single area where that the government can help fight. This pandemic is kind of a piece of what he plans to do. Joe Biden would also inherit a Jennifer A. An economy right now that has been battered by the cove in 19 crisis We mentioned at the top of the show that AH eight million Americans have been pushed into poverty. People are scrambling to keep their homes to put food on the table to find work that may not return. Since this pandemic has taken hold of the country. Does Joe Biden have a plan for dealing with that economy should he inherited asked becoming president. Yeah, he does. He has this economic plan called Build back better, which is a couple trillion dollars of spending. Ah, that's meant to stimulate the economy. I think It will depend a little bit on the results of the election. Whether Democrats when the Senate if he wins the presidency, and whether there's any activity during the lame doc session of Congress on the House and Senate, Canon and the White House can agree. On stimulus. You know a couple of trillion dollars stimulus spending now through the end of the year, or if people are going to continue to kind of be in need and and the government not act in which case after Inauguration Day. Biden would move very quickly on Ah stimulus bill. I think that the size of it is still to be determined and how much of that Polls on some of the ideas that are in his gold back better plan, which are things like clean energy, spending, health and homemade at a nursing care and and things like that, which I think you know, a lot of people would say are badly needed during the pandemic, so will depend on sort of what happens. Before he were to become president. But there is definitely intention to either add to whatever has done during the lame duck session this year or to come through with it with a bigger plan than the couple trillion dollars that's being talked about. Or had been been negotiated a bit between Nancy Pelosi and the administration in the last couple of months. This
What Economy Are You Voting For?
"Pandemic policy ease economic policy. So let's make the first thing we discuss what is Joe Biden's pandemic policy as it relates to his economic policy. Sure. So Joe Biden is very much focused on containing the corona virus. Yes. He wants badly as any of us do for there to be a vaccine and pharmaceutical companies to stay at work on that but he also is saying look until then make sure that we have the virus as reigned in as possible, and here's a line actually from his website. That really struck me says, Biden believes we must spend whatever it takes without delay to meet public health needs and deal with the mounting economic consequences i. mean he's really saying one can't happen before the other you can't have the economy bounced back without corona virus at least to some degree really hemmed in. So to do that, he's encouraging a lot of. Things like mask wearing that sort of thing more testing. But one other thing he has said is that the CDC Centers for Disease Control needs to come out with clear guidance for states and localities on. Okay. Here's what you should be opening and when based on how Corona virus looks in your area. So of Corona virus is really bad maybe you shouldn't. Have Schools Open right now indefinitely, not restaurants or concerts or whatever. But if things are looking better, maybe you can open schools. But what he's saying is this is not necessarily an all or nothing thing but we need clear guidance from scientists on exactly what to down in one. So it's fair to describe this as a somewhat detailed approach as opposed to. Thinking of it in binary terms like everything locked down or everything stays open, it's an attempt to find out. Okay. What are the details that matter and then let's apply those on a situation by situation basis right I mean the way he makes it sound as nuance, but also to some degree simple or at least clear like, yes, there might be gracious between. States, but we at least want to give states some sort of guidance on exactly what they could or should be doing in one. Let's go on to the second part of his economic policy agenda that we're talking about here, and this has to do with Joe Biden's proposed spending programs, which are a lot higher than say what Donald Trump is proposed. So why? Don't we get into that what? What is Joe Biden proposing spending money on? All right. So the umbrella that he has put all of these policies under he is calling build back better. Well, I've heard better alliterative strokes of genius but fine we'll stick with that build back better and what's in that this isn't about marketing card if this is about economics so. The first is manufacturing making sure that there are more manufacturing jobs and he's clear on this. He wants them to be unionized manufacturing jobs. And also to make sure that there are supply chains here in the US to make sure people can get the goods they want, which is something that we have seen laid bare a bit by Covid number two green infrastructure. So yes, he wants to build roads and bridges the way that we think of infrastructure pretty traditionally, but he also wants to make sure that lower pollution methods of transportation for example, are encouraged like light rail's in cities, electric car production, that sort of thing. Three racial equity. Close some of the really gaping economic gaps that we have between races and ethnicities in the country and I know you guys have reported on this on your show the very big for example, unemployment gaps between black Americans and white Americans also Hispanic and Asian Americans there are some huge gaps there likewise the big wealth gaps and finally caregiving he wants to make sure that people are able to get quality and affordable care for their kids and also for their older relatives when they need it. Yeah that. One's interesting Tesla Memorial. The approach to cure giving that Joe Biden is pursuing here sir, and this is really a of course important right now because Kovic has shown us as we're all staying home and his kids are not at school that caregiving is a really important for people to be able to do their jobs and participate in the economy, and in fact, we've seen people falling out of the workforce because they didn't have access to childcare and elderly care. Yes. Most definitely. So what Biden is proposing? Is Pretty ambitious I mean what he wants to do is universal pre-k available to all kids. He wants there to be higher pay for childcare providers. He wants them to be able to unionize collectively bargain and he wants to grow the number the supply of childcare establishments around the country to make sure people can get that childcare aside from that in terms of spending and making it more affordable. He wants to make sure there are refundable tax credits to low and middle class families to help them. Pay For childcare. So that's a lot of stuff and child care. I know you know it's a complicated thing to make sure everybody can get it to make sure there's enough that it's high quality that it's affordable. So it's a tough needle to thread, but this is his attempt at doing that. Okay and let's get to the third part of the agenda, which is sort of the flip side of the spending, which is where are the tax revenues to pay for some of this spending gonNA actually come from. People in corporations moon that's it. We're done next on you. Okay. So it's not gonNA come from middle income or lower income folkston is what Biden missing right so what he wants to do is raise taxes for households with incomes above four, hundred, thousand dollars a year limit their deductions, and also he wants to increase the top corporate income tax rate from twenty one percent where it is now to twenty eight percents. Now, president trump, you'll remember lowered these. Taxes with the tax cuts and jobs act that big tax bill that Republicans passed in twenty seventeen. So Joe Biden is saying look I wanNA roll a lot of that back I want to change things back now. So in terms of those income tax changes. Yeah. That would overwhelmingly, of course, the highest income people. There is some question about what the corporate tax plan would do I mean how much that would be knocked on if at all to. People at the lower end of the income spectrum, it's possible that it would be to some degree but again, you compare it to those income tax changes in it's nowhere near what a change those would be essentially looking at the last four years in saying I'm undoing some of this and I'm putting in place the agenda I prefer instead of the one that president trump has preferred, right? Yes. Now listen we're laying out all of these economic plans here's. What Joe Biden wants to do would do in his perfect world has theoretical I get everything I want world. But of course, he won't get everything he wants he can't. Okay. But what's your priority in violence cases are going to be green jobs? Is it going to be this tax plan is going to be childcare what does he do? I decide to spend all of his power on
What Is Bidenomics?
"Three parts of Joe Biden's economic policy agenda with Danielle Kurtz Laban reporter on NPR politics team. Then now here's where I want to start. You said something interesting to me recently, which is for both of these candidates pandemic policy ease economic policy. Let's make that. The first thing we discuss what is Joe binds pandemic policy as it relates to his economic policy. Sure. So Joe Biden is very much focused. On containing the corona virus yes. He wants as badly as any of us do for there to be a vaccine for pharmaceutical companies to stay at work on that but he also is saying look until then make sure that we have the virus as reigned in as possible, and here's a line actually from his website that really struck me it says Biden believes we must spend whatever it takes without. Delay to meet public health needs and deal with the mounting economic consequences. I mean. He's really saying one can't happen before the other you can't have the economy bounced back without corona virus at least to some degree really hemmed in. So to do that, he's encouraging a lot of things like mask wearing that sort of thing more testing but one other thing he said is that the CDC centers. For Disease Control needs to come out with clear guidance for states and localities on. Okay. Here's what you should be opening and when based on how Corona virus looks in your area. So of Corona virus is really bad. Maybe you shouldn't have schools open right now indefinitely, not restaurants or concerts or whatever. But if things are looking better, maybe you can open schools but what he saying is this is not. Necessarily an all or nothing thing but we need clear guidance from scientists on exactly what to close down and one. So it's fair to describe this as a somewhat detailed approach as opposed to thinking of it in binary terms like everything locks down everything stays open. It's an attempt to find out. Okay. What are the details at matter and then let's apply those on a situation by situation basis, right? I mean the way he makes it sound as nuance, but also to some degree simple or at least clear like, yes, there might be gradations between states but we at least want to give states some sort of guidance on exactly what they could or should be doing in one. Let's go on to the second part of his economic policy agenda that we're talking about here, and this has to do with. Joe Biden's proposed spending programs which are a lot higher than say what Donald Trump is proposed. So why don't we get into that? What? What is Joe Biden proposing spending money on all right. So the umbrella that he has put all of these policies under he is calling build back better now I've heard better alliterative strokes of genius but fine we'll stick with that build back better and what's in that This isn't about marketing. This is about economics. So okay the first is manufacturing making sure that there are more manufacturing jobs and he's clear on this. He wants them to be unionized manufacturing jobs and also to make sure that there are supply chains here in the US to make sure people can get the goods they want, which is something that we have seen laid bare a bit by Cova. Number two is green infrastructure. So yes, he wants to build roads and bridges the way that we think of infrastructure pretty traditionally, but he also wants to make sure that lower pollution methods of transportation for example, are encouraged like light rail's in cities, electric car production, that sort of thing. Three racial equity he wants to close some of the really gaping economic gaps that we have between races and ethnicities in the country and I know you guys have reported on this on your show. The, very big for example, unemployment gaps between black Americans and white Americans. Also Hispanic and Asian Americans. There are some huge gaps there likewise the big wealth gaps and finally caregiving he wants to make sure that people are able to get quality and affordable care for their kids and also for their older relatives when they need it and that one's interesting. Tell us a little bit more about the approach to caregiving that Joe Biden is pursuing here sir, and this is really of course important right now because cove has shown us as we're all staying home as kids are not at school, that caregiving is important for people to be able to do their jobs and participate in the economy. In fact, we've seen people falling out of the workforce because they didn't have access to childcare and elderly care. Yes. Most definitely. So what Biden is proposing is pretty ambitious I mean what he wants to do is universal pre-k available to all kids. He wants there to be higher pay for childcare providers he wants them to be able to unionize to collectively bargain. And he wants to grow the number the supply of childcare establishments around the country to make sure people can get that child care aside from that in terms of spending and making it more affordable he wants to make sure there are refundable tax credits to low and middle class families to help them pay for childcare. So that's a lot of stuff and childcare I. Know You know it's a complicated thing to make sure everybody can get it to make sure there's enough that it's high quality that it's affordable. So it's a tough needle to thread, but this is his attempt at doing. Okay and let's get to the third part of the agenda, which is sort of the flip side of the spending, which is where are the tax revenues to pay for some of this spending to actually come from higher income people incorporations room. That's it. We're done. That's not okay. So it's not gonNA come from a middle income or lower income folkston what Biden is saying, right so what he wants to do is raise taxes for households with incomes above four, hundred, thousand dollars a year, limit their deductions, and also he wants to increase. The top corporate income tax rate from twenty one percent where it is now twenty eight percents. Now, president trump you'll remember lowered these taxes with the tax cuts and jobs act that big tax bill that Republicans passed in two thousand seventeen. So Joe Biden is saying look I, WanNa roll a lot of that back I want to change things back now. So in terms of those income tax changes yes that would overwhelmingly, of course effect the highest income people there is some question about what the corporate tax plan would do I. Mean how? Much that would be knocked on it all to people at the lower end of the income spectrum. It's possible that it would be to some degree but again, you compare it to those income tax changes in it's nowhere near what a change those would be essentially looking at the last four years in saying, I'm undoing some of this and putting place the agenda I prefer instead of the one that president trump has preferred, right? Yes. Now listen we're laying out all of these economic plans. Here's what Joe Biden wants to do would do in. His perfect world has theoretical I get everything I want world. But of course, he won't get everything. He wants he can't. Okay. But what's your priority in Biden's cases are going to be green jobs is going to be this tax plan is going to be childcare. What does he do? I decide to spend all of his power on right you've got to prioritize because you're not going to get everything you might not get anything you are true right? Yeah. But in speaking with you today tomorrow I am getting everything I want what a pleasure
Corporate Tax Increase Looks More Likely as Election Nears
"In mind that when Trump with those trump tax cuts when they do expire, most taxpayers will likely be hit with some kind of tax hike unless the provision of that tax cuts and jobs actor extended And if Biden is elected, he's promised to eliminate the tramp trump tax cuts immediately. Other potential tax changes from Biden include elimination of the capital gains tax breaks, You know, people sometimes get worried about capital gains taxes. Those air lower than ordinary taxes, but by new thing, and we'll get rid of those elimination of carry over basis for inherited property. Significant corporate income tax rate increases just to name a few. So that's where Texas Khun come from. Could very well impact your tax deferred individual retirement accounts for one case, another retirement accounts. So
Everyone's messing with TrickBot
"Your last week when we were talking about how someone was interfering with the trick bought bought net and I said something along the lines of this kind of has the feeling of something that came off a whiteboard at Cyber Command. About that about that. Yes. Other news breaking that it wasn't fact Siva combined all up in trick thought. So yeah we well, you totally cold that one it it was the vibe. Yeah. It did feel coordinated that felt a little different than usual doesn't feel like the normal corporate tax downs we do know that the were some corporates involved as well as. Much. necessarily. The same operational whether it's incidence Mike stuff was also taking down some of the stuff in ways that we've kind of seen them do in the past But yeah, this one did feel a little different and yet it was. Yes. So it turns out Cyber Command were interfering with the trick bought botnets under the auspices of protecting the United States election, right the integrity of the election and confidence in the election because you know US security officials have been quite concerned that an adversary could use the deployment of ransomware on or around the election. Is a bit of a spoiler as a wide sue sort of arrived confidence in the US election I've seen some people pushing back on that on twitter. Some people insecurity saying, well, it's just a theoretical risk but look they have been thinking about this one table-topping this one for quite a long time I can tell you that with certainty I've been on this one for quite a long time. So I'm not surprised to see the move against trick much the same way that they moved against the IRA the Russian IRA that is before the midterms or during the midterms. A couple of years ago back in two thousand eighteen. So I'm not surprised to see them do this. Especially when you consider that trick bought has been linked to your all of shady state-sponsored stuff. Yeah. But I think it does make sense and when we talked last week, you know we speak that a bit about the healthcare impact was the trick bottle being involved in dropping the ransomware on the big hospital chain. We were talking about but I was focusing on the elections in a it's a thing that the Americans are particularly concerned about because it is a realistic thing that can happen but also it's A little bit more mandate to you know, go after and deal with things that are election-related and some of the tops with trick bought selling access rather actors on North Korea's one example incited. Does kind of tend to nations day territory. Both of those things are a little bit more in McMahon's wheelhouse than just like straight up criminal stuff and we've seen some people kind of suggesting that even if the technical risk to elections perhaps as pot credible who knows Hang on hang onto picked off. The trick on state and county systems right that could be involved in the election process some house I you know it does it does actually connect up pretty well I. Think and I had brief chat with Bobby Chesney about this he wrote a piece on it. For Law Fair and he says, yeah, if this is squarely aimed at ta protecting the election, then this type of activity would fall squarely within. The parameters of Cyber Command statutory authorities, right. So it which actually makes it less interesting because if they have done this because of the attacks against hospitals that would be crossing a big line but doing it because of the election actually less interesting. Yeah. It's funny. Funny because. It is a really interesting example of them acting against the network like this where election interfering is probably only one thing that trick part could be used where we've seen it being used for. But. Yeah. You're right. It would have been and we don't we taking action against the theoretical attack instead of the actual one which used down hundreds of hospitals. Just seems to be crazy. A place in the side effect right? If I do disrupt right but on that's it's also not particularly here to what extent this really has caused in payment. The operation of trick bought in the short term perhaps some in the long term doesn't really seem that way. You know we've made him a difference. We don't really know but anything that goes after those actors makes their lives more difficult is a good scientific even it wasn't the primary reason and we've also seen you know one kind of pot in public here and may well have been other actions going on and you know we may see ongoing. Activity against trick bottle you hang on hang on that's the part that's the part that comes next but let's just stay with the cyber command bit for now this could be signaling right? They are talking about this. The Washington Post comes out with four sources on this. They clearly talking about it to certain meteorite. Let's they're talking about it for a reason. Sorry. When people say this could be signaling I tend to think the fact that commanders even discussing it. Supports that theory. Yeah. I think that's a pretty straight line to draw. Obviously, Siva combines don a bunch of other things in the last year or two, and we haven't necessarily seen them discussed the same way as this during the previous mid Tim elections. You know he did see them saying you know we did the was some signaling. Russian ACA saying, Hey, we are up in your stuff we are watching you just. You know kind head things off. So the fact that we had some signaling then I think this has signaling now totally make sense it does. Now, where it gets interesting. Naira. As I said this isn't about the hospitals it's about a theoretical. That could could fall on election related systems right in a few weeks from now. But this begs the question couldn't you make the same argument for all botnets couldn't make the same argument for. In that case in that could be theoretically leveraged a state to undermine the election right and if that's the case why not attack them to? Know that there's any good reason not here I. Think it's very yeah absolutely you we've seen plenty of evidence of other Boston. It's being used to drop initial access as cover being used as unwittingly You know by other intelligence agencies to as vectors into places like there's absolutely a line to be drawn from all of the other big operation is such a natural good place to starve deniable they provide access the indeed they less well protected them. The networks are trying to break into our operation themselves. There's no reason not to go after the other ones under the same kind of logic to me. Well, that's the thing. Isn't it? Doesn't even though we're saying it hasn't crossed a line it kind of has. Saying, is that this? Is a national security risk that justifies the involvement of military organization. It's almost like this complicated. It's almost
Trump tax returns: How rich Americans avoid taxes
"A New York Times investigation into president trump's tax returns found that in some years he paid little or even no taxes. Now, he is not the only rich person to not do. So the tax code favors people who live off of investments including a lot of people in finance who run hedge funds or manage money. Here's NPR's Jim Zarroli. Morris. Pearl is part of the one percent. He's a former managing director at the giant investment firm blackrock. He has an apartment on New York's Park Avenue, and he lives off his stock investments. These days Pearl says, the taxes he pays are lower than ever I. For instance, have not worked since twenty fourteen. All of my money comes from investments I'm doing fairly well, but my tax rate is in the teens. That's right. He pays a lower tax rate than the average teacher or letter carrier Pearl is a millionaire even chairs an organization called. Patriotic Millionaires, and he thinks the way the tax system works is disgraceful. Our system allows rich people particularly real estate developers and investors to pay far lower taxes and people at work for a living US tax law was designed to be progressive meaning the more you earn the more you pay, but it doesn't always work out that way when president trump was running for office, he promised to overhaul the tax code. It is riddled with loopholes that let some special interests including myself in all fairness is gonNA. Cost me a fortune this thing believing. Belief. This is not good for me. The tax bill trump ultimately signed into law in two thousand seventeen got rid of some deductions and loopholes, but it retained one provision that mostly benefits rich people as Earth tax loopholes go one of the more known textiles because it is. So ridiculous Charles con is with the strong economy for all coalition, a group of community and labor groups. He says people who live off investments such as stocks and real estate are taxed differently than people who earn salaries, but instead of paying the income tax rate, which could be as high at the thirty seven percent. They pay capital gains and the capital gains tax rate tops off at twenty percent. Trump's tax bill also retained another very controversial provision. It allows money managers and hedge. Fund titans to take their salaries as investment income meaning they pay that lower rate. Trump insists that his tax cuts helped fuel an economic boom at least until the corona virus hit here he is at his State of the Union address. Soon, after signing the bill, we enacted the biggest tax cuts and reforms in American history. But Economists William Spriggs of Howard University says the bill kept some rules in place that benefit the rich especially people such as president trump who made their money in real estate and sprigs says that by cutting corporate taxes, the bill helped fuel a long rally in stock prices and that's benefited the rich even more people owning stocks where the big beneficiaries because their income was going up whereas wages stagnated even through the recession, the stock market has continued to do well, people who own stocks have seen their portfolios grow and they continue to pay much lower taxes on the prophets they bring in.
Trump went even further than other uber-rich to shrink taxes
"On Sunday night the New York Times published the first piece in an investigation detailing President Donald Trump's tax return data from the past two decades according to the Times reporting the president did not pay federal income taxes in eleven of the eighteen years they looked at and he also reportedly just paid seven hundred and fifty dollars federal income taxes in both two, thousand, sixteen and twenty seventeen the revelations about trump's tax records come less than six weeks before the November election and with first presidential debate just hours away some Americans will be. Watching closely to see what more the president has to say on the matter president trump defended his tax record on Monday by saying on twitter that he was quote entitled to Take Advantage of tax loopholes like everyone else for more on this, we turn to Jeffrey Stein White, house economics reporter for The Washington Post Jeff Welcome back to the show. Hey, thanks so much from you backbone. So lot of tax code stuff to get through but let's remind our listeners. Why has the president not voluntarily disclosed his tax records so far? Well I think we're seeing the reason right now the president broke a decades of precedent and refusing as two thousand sixteen presidential candidate truly says tax returns. He has claimed that he cannot do this because he is under audit, but there is nothing that would stop him from say having released all the years of his tax returns prior to the current Audit The irs has not made clear that trump is unable to do this and a lot of the attorneys we've spoken to have said. that it might be difficult on some of the edge cases related to the audit but overall, you know he could do it. So that has been more or less pretty clearly knocked down fallacy at this point you know the the question of why he hasn't released his tax returns became a huge controversial controversy in Congress House Democrats sued for trump's tax returns. Treasury Secretary had to explicitly deny a part of the law that says that Congress that the tax writing committees conjure entitled to the returns and yet of course, now we have them or not in your times house alleged say and so we can see a little bit why trump and his administration were. So resistant a for the public to see these documents and we know the New York Times. Didn't just. Get them yesterday they've been working on getting them are some semblance of them for years. Now, one of the most striking features at least to some Americans was how little the president paid in federal taxes for two, thousand, sixteen and twenty seventeen we're talking seven, hundred, fifty dollars Jeffrey I think I've paid more my own in my own taxes is that How do we even get to that type of the figure? That's a great question. So maybe I can try to explain it a little bit for the listeners. So most people you and I, you know we pay our federal income taxes on our wages and our salaries right? We collect check you know every other week from our employers and then at the end of the year that you know how much we make you go to the tax rate and see for your income bracket how much you pay that's what most people do, and then separately many people most people actually worked for companies and the companies also pay what's called the corporate tax rate most you know many companies are formed. As C. Corp it's called and so they pay a separate corporate tax, which is now twenty one percent. The Republican Tax Law lowered the corporate tax rate from thirty five percents to twenty one percent Donald Trump is actually in neither of those categories the either the personal income tax situation that that I described for wages and salaries or in the corporation corporate business tax, he's formed as a what's called a sole proprietorship or an escort. These are called pass through entities and what a pastor renting means. There's a bunch of different sort of legal former legal structures that constitute pastors, but the upshot is that the business owner. Is His tax on his business and his personal taxes sort of as one combined thing. So that means that his personal income tax obligations is often just reflective of what the businesses doing in trump's case is taking such tremendous losses particularly on his golf courses that he's able to offset his other tax obligations including what we normally think of as your federal income tax obligations trump has a ton of money. He has a ton of assets but what's known as his Agi, his adjusted gross income. which helps determine your federal income tax rate is actually quite low because if you're formed as proprietorship or as an escort Broza pass through your acquiring these assets, they're increasing your net wells but they're not actually leading to your your average income to be that high, and that's why trump's income payments. You know federal income tax payments were only seven, hundred fifty
High Unemployment Could Force Big Tax Increase for NJ Businesses
"Paid by businesses based in part on how much money is in the unemployment fund. That could mean a tax hike next summer as the balance is dropped from the best of six columns to the worst is 4.7 billion in in state state benefits benefits have have been been issued issued since since March, March, and and 40,000 40,000 still still Haven't Haven't had had their their claims claims processed processed in in New New Jersey Jersey Labor Labor Commission Commission of of Robert Robert Sorrow, Sorrow, Angelo Angelo says says New New Jersey Jersey in in late late August began borrowing money from the federal government to pay unemployment benefits. So far, it was $27 million interest free through January. 14 other states in the Virgin Islands of Bardem was $30 billion combined. We're hopeful that there's gonna be relief for trust funds were not the only secret question is really the other way. Bigger Problems on we're goingto have Senator Steve or Ho notes governor Filmer. He also wants to make permanent a corporate tax surcharge. The extent The employment task was up on the employer side to be a very significant at the Statehouse. Michel Simon's New Jersey one a 1.5 news time a
"corporate tax" Discussed on FT Alphachat
"I know we alluded this a little bit with the fiscal impact here but toward extent do think that the change in sort of the headline corporate tax rate would affect investment susan's domestically in the us apart from profit shifting apartment tangible for the real economy affects the one thing that i think i have learned from following the debate is that just looking at the headline taxes a little misleading that rules around expensing are really quite important and that with full expensing the corporate profit tax becomes a tax on your excess prophet surprise profits above in return that you would normally expect and so since we've had bonus depreciation in the past that has offset to some significant extent the relatively high us corporate tax rate the biggest impact with the reform may be in the short run the move towards full expensing not the reduction in the headline rate but then over time expensing fades out so oh i think you end up with a lot of very complex in offsetting affects i share the view of those who don't expect to see that large of an impact so last question for now is what would you have done if you faced with sort of the situation that we saw the end of last year in terms of how corporates and multinationals to their tax fares what would the kind of changes in the us tax code would you like to have seen that would have dealt with that in a way thought would have been sort of officiant and and fair.
"corporate tax" Discussed on FT Alphachat
"You know really takes off after two thousand i think there were probably some technical changes to the us corporate tax code that made it easier to transfer intellectual property to your a wholly owned subsidiary so there's always some technical angles and then i think as one company did it successfully other companies followed suit and then it sort of became the norm and so essentially between two thousand in roughly twenty ten i you see a very significant rise in the the prophets us multinationals are reporting in the low tax jurisdictions and it kind of reaches a level where you almost can't ignore it so these prophets that were talking are now being counted in the balance of payments as hundreds of billions of dollars a year or foreign direct investment income coming from a handful of places places like bermuda the caymans luxembourg and so forth and it's really much more likely to be a function of tax avoidance rather than any kind of reflection of underlying economic reality so if you just look at the reinvested earnings in low tax jurisdictions of us multinationals around two hundred billion if you include all their earnings and low tax jurisdictions a can get a little closer to three hundred billion so you're looking at one to one point five percent of us gdp i think this is sort of become a consensus estimate so what are some of the techniques companies use to profit shifting you mentioned for pharmaceuticals for example they might manufacture the active ingredient in a certain place like ireland but a lot of the stuff we're talking about our intangibles things like intellectual property or brand licensing like we seem to starbucks can you give a sense of how that works so you know really the senate investigative committee under carl levin did all the work so there's a report on apple and a report on microsoft that more or less outlined the commonly used structures at the time and obviously structures of all but the simplest easiest to understand structure will be the one most often used in the past and the tech industry and it works more like this i successful.
"corporate tax" Discussed on KOA 850 AM
"The most good what are we to make when whether it's the democrat for anyone who don't like trump when they say that the truly big guys made out on this and the smaller people who would have spent that money immediately even though some of them are getting onus is a lot of the middle class is still be left out in the cold well you know to the caller i i will i will definitely say that the tax cuts should have been more equitably distributed that the working class should have been allowed to have a tax cut that would have been a least you could have more certainty that these tax cuts would last beyond 2026 the corporate tax because as you know are permit and and and the tax rate has been dropped significantly you know the in principle what we see is that if we reward the entrepreneurs the businesses the particularly the big businesses in this country corporation that they would create jobs here in the united states well there was a meeting held by the wall street journal about two or three dozen ce were at this meeting and they were asked how many of you are going to use your tax cuts to invest back in your companies here in the united states and create jobs here the united states not continue to offshore a lot of your enterprise you know how many ce os real raise their hands out of three dozen that were there and these of top ce os in the country i would say yeah a lot not only to raise their head you are we going to invest our money back in the united states we've heard that song before and you know capital will seek its greatest return and unfortunately for the worker here in this country the.
"corporate tax" Discussed on Planet Money
"Think tank karl has some problems with the spill but overall he thinks it makes sense there are basically two rationales warnie's than the us corporate tax rate right now is higher than most other developed countries in the world lower corporate tax rate makes the us and more attractive base for companies that also means it companies won't have as much incentive to hide their profits overseas with fight clever accounting tricks but i think the larger deal is that it encourages like more investment in the united states and so the corporate tax rate is lower that makes more investments profitable and that should cause more investment more jobs and higher income and higher wages for people in insteads let's say we're going to start a corporation the planet money corporation so obviously we'd get a tax cut once we had that tax cut and we we're going to have higher profits we'd have to make some choices about how to spend that new money we could invest it we could buy new equipment recorders computers we could hire more reporters or we could give the current staff some raises mm or we could lower prices to well i guess blow free because we don't tried for podcast let's face it planet money was never going to be a great corporation but anyways the last option the one that you've been hearing a lot of people worry about is that we didn't up giving our shareholders some money back through stock dividends or buybacks but karlin other advocates of the bill they think the investment part buying new equipment computers were quarters they think that that's the most important part of the equation is sort of company respond by investing more than that will allow workers of those companies to be more productive that raises labor productivity which increases the total amount that the economy can produce in a giving you what it means is that investment in equipment research and other things that's what will make the planet money corporation more efficient better and better a cranking up podcasts so that's the argument for cutting the corporate tax rate the counter you comes more productive we all get richer plus the us becomes a more competitive place do business so the planet money corporation station here and the government keeps collecting our taxes.
"corporate tax" Discussed on Bloomberg Radio New York
"Huge to corporate tax cut for individuals and households it's more of a mixed bag especially if you live in one of the high tax blue states and interestingly you know when you think about tax reform unit a historic archetype is 1980 six that you does simplification along with tax cuts this bill you know while it cut some taxes it it makes the tax code also much more complicated which is not what you're looking for typically tax reform that's why there's been a lot of debate about what you call this hasn't them out as insect ddot we d call the tax cuts you call it tax reform and the way you label it kellie kellie kellie masses for the markets what matters from here is this will really priced into we think um it's it's a win which is the first i think for this administration so in some sense that it it declares a bit of the air and and the what happens next so i think the the market is uh pretty much in stride other things any sort of major moves likely from here but it's it's clearly book i would say broadly positive even though you want to go into the weeds of it there are lots of problems but in essence it's the east on something yeah well he knows that vat win asked to be part of the impetus for the rise in the sp 500 question is is there anything laughter when this comes across the lyon marcus the expect markets to be able to continue to rise yes simply put those stocks listed in foreign shake the economy's going gutting guns you look at the latest now cost for cost for the next three four quarters and fight is over three percent positive growth that's like the first time since i so you the economy's going where he was good obscene nothing to donald trump it's got nothing to these tax cuts reforms or your call them but the point is that the economy is set for and that's gonna carry liner docks up for rich people this is awesome right because it drives more appreciation an equity markets they on equities it's going to cut corporate taxes that's going to pay the wealthy investors in the.
"corporate tax" Discussed on Monocle 24: The Bulletin with UBS
"From the tax cuts against the king with the big picture stuff we've discussed some positives and negatives but brian how would you characterize the the overall gains potentially here so all if you look very big picture tax cut in on a net basis are around half a percentage of gdp but the multiplier on those cockpit it's probably gonna be pretty low a lot of the benefits are flowing to very wealthy household who will tend to save it rather than a spend more i don't think corporate behavior will change very much i don't think this will leave to in woo a big surge in uh stay higher renewed new job creation because of this tax cuts and the one sort of very subtle point on this is that the senate version which delays the corporate tax cut by your year that actually has the potential to have a more of stimulatory effect in 2018 and the reason is a that may be difficult punters span but basically if you're a company that has a 35 percent tax rate and you're thinking about making investment it makes sense to frontload that investment into 2018 when your tax rate is higher than in 2019 when your tax rate will be lower and that kind of it's a subtle point but that could lead to a lot of companies to bring forward their investment plans into 2018 and have a bigger positive impact on growth the problem being that there's going to be a fall off in 2019 so this is a temporary but could be significant stimulus for next year stills come on the bulletin with ubs we'll look at what this means for investors.
"corporate tax" Discussed on Rich Dad Radio Show
"This means that the tax cut the lower rates that they're talking about the hired sheild credit you know going from a thousand two two thousand which will help a lot of uh especially larger families the law the higher standard induction going from twelve thousand twenty four thousand for each also all of that disappears january one 20 26 okay has gone on the other hand the corporate tax cut taking the rate from 35 to 20 is permanent it stays there isn't twenty twenty six twenty twenty seven talking guy so a soda emirates guys like me very happy so you're saying that okay so you're saying basically the lobbyists of wall street came up with this plan and who benefits is wall street and big corporations is that yes exactly what i'm very narrow first of all i would agree the corporate tax is it bad pack theory if we could get rid of it we should we we really ought to do like the rest of the world impacts uh consumption and the value added tax they're not doing that what they're doing is simply lowering the rate from 35 to 20 percent their borrowing money that is charging the build a future tax payers in the middle class this getting no relief um and uh arguing that is going to stimulate the economy into a spurt of growth my argument is that if you look at it carefully and if you look at a corporate tax cuts in the past they'll lead mainly i would say ninety percent of these savings.
"corporate tax" Discussed on C-SPAN Radio
"A good bill the delivers on our promise to provide middleclass tax relief and grow our economy most importantly this bill will allow hardworking last families to keep more of their hardearned paychex by nearly doubling the standard deduction lowering rates and doubling the child we have made good on our promise to produce a bill that will improve the lives of average americans have been hit by nearly a decade of sluggish economic growth working a a middle class families will also see gains in the form of lower wages as a result of five run economy this was a bill i think both parties can ultimately support as i've said many times throughout this debate both republicans and democrats have long supported the key elements of this bill for example the film over the corporate tax rate to 20 percent in line with bipartisan proposals that have been discussing advanced by members of this committee let's go to understand the importance of that our current corporate tax rate is a major drag on our economy it drives businesses jobs and investment offshore it slows growth contributes to wage stagnation that's why president obama simpson goals and even our beloved ranking member i put forward concrete plans bring down or corporate tax rate and improve our nation's the globally compete the bill also fixes are in international system so the going forward american businesses will not oats taxes on income earned by foreign subsidiaries our current system also drives companies offshore because it puts american companies at a distinct disadvantage in the world marketplace i don't think any one of us should stand for that we should all when america to be a good place to do business and give our job creators chance to compete that is how we improve wages create jobs and grow our economy of course most of the debates without here's been about what this bill will do for american workers and families there have been some differences of opinion has are two sides of interpreted the available data differently i won't reopen that debate now however i do want to reiterate all of us have said here is.
"corporate tax" Discussed on Pod Save the People
"Provide three large benefits people at the top of the income distribution but both feature a loophole for uh those kinds of businesses now they also have some uh modest tax cuts for low and middleincome families some of those families might even see a media tax increases starting in 2018 but for families especially with just taking a standard duxin who aren't itemising and so on they do give some small tax cuts but those tax cuts tend to dissipate with time and even for some of their families and families including their big example family would turn into a tax increase for instance under the house plan so bottom line some differences a lot of similarities big similarity is that these are tax cut that these are tax cuts disproportionately focused on big corporations and which tend to disproportionately benefit the top of the income distribution explain the of the corporate tax like what is a key allies corporate tax matter by what does it mean that being cut this way it's like why should people care about that like i don't think i've ever heard about corporate taxes until this moment so corporate taxes are important because uh some of the largest businesses in america uh pay tax the government that way so we raise hundreds of billions of dollars right now through the corporate tax it's not the largest source of revenue for the government but it is an important source of revenue and it's a source of revenue that most economists think really ends up being paid by uh the owners of the companies and the owners of the companies tend to be people with money to own the companies tend to be disproportionally um some of the highest income americans so it's important because it raises money it's important because it's a source of revenue from some of the highest income americans and finally it's also important because the corporate tax provides backstop to the regular income tax that we have and if you get rid of it if you cut it too much it can allow away for pie income americans potentially shove money into.
"corporate tax" Discussed on NPR's Business Story of the Day
"Well it is a lot more complicated she believes the relationship between tax cuts and growth is difficult to prove there's no evidence dan corporate tax cuts unleash a big wave of economic growth or wage increases causing says an economy the size of the united states has too many moving parts so when the economy accelerates it could be because of tax cuts or it may be something else entirely causing an other economists are sceptical about the promises republicans are making for another reason josh givens of the economic policy institute says tax cuts make a certain sense in a recession when business profits are falling and companies have trouble borrowing money but that doesn't described the autonomy today we have very low interest rates in very high a posttax corporate profits in other words he says most corporations have access to pretty much all the money they need right now but they're not investing all that much and they're not paying their workers much more so we we have exactly what the corporate tax cut is trying to engineer really high posttax profit rates and yet it has not resulted in more investment in so the idea that we just want to do more of the same thing that is not spurred investment strikes me is not correct given says all this points to a much larger and more formidable problem for the economy after the longest postwar expansion on record companies don't see a lot of opportunities out there to sell more and in a world of tough global competition they're not really raising wages all that much so he says giving them even more money by cutting their taxes isn't going to address the real problems the economy faces jim's a rowley npr news new york.
"corporate tax" Discussed on Business Daily
"Can you think of an incentive that might do that yeah so so there are proposals out there there is primarily to big proposal to reform the international corporate tax system to prevent this from happening that would remove incentives one is known as global formula porsche much and and the other school destination based tax says i basically creating a level playing field globally when it comes to corporate tax one test regime for the whole world one of the dead at a global formula porsche french h woods at a destination based tax function this led to different way but both would essentially what they would essentially achieve is a removal of the incentives for companies to liu from one country to the other so in an essentially you would take away the tax competition elements and companies would be tax regardless of whether they moved their headquarters or their agents to a tax haven or not but that's never going to happen is it because as you said countries want to maintain investments it's appealing for them to be able to get companies to locate in their in their jurisdictions it's a it's a competition element it i suspect global agreement will be indeed very difficult and that's why global form portion for me it is quite difficult to achieve destination based tax however is a is a system that would work even if only one country moved in that direction so there are proposals out there that would allow ousted move along a is just that we actually need to have the political momentum and to move in that direction.
"corporate tax" Discussed on WSJ Opinion: Potomac Watch
"Uh we're i'm disappointed the individual tax side they have made a hash of this i think it's safe to say some good things about it in terms of simplicity with a doubling of the standard deduction but a lot of really bad stuff in there over to you dan well yeah i think it done tax cut on the business side dumb the reduction of core corporate tax to twenty percent um big big cut um really strong and the whole idea contrary to what the democrats say which is just to and rich corporation when corporations uh as last time i checked in this country employ millions of people they also don't ca all eu is collect taxes now they don't really pay them they collect them on behalf of shareholders and the government by f shareholders workers consumers customers and today in friday we got ta the jobs pictures out it was good job growth two hundred sixty thousand jobs created in the last month but you know what paul deliver participation labor participation rate fell again it's still down sixty two point seven percent word was in the 1970s which means y'all were really low unemployment there's a lot of people out there who don't have jobs stop looking for work and the idea of cutting the corporate tax is to allow corporations to raw plough more capital into the economy create jobs and raise wages which also wage growth was weak in the last month so in that respect it's a it's a very strong proposed tax reform on the individual side um it's very complicated and as i keep trying argue.
"corporate tax" Discussed on WJR 760
"To ever meet you bet your rolled back a little bit and go back to some previous comment dumb contact regarding the democrat uh ignorant of what the impact would be on the economy um should they increase their desired corporate tax increase in that it would simply okay the corporation could packed it onto the consumer um i did it too much bigger um situation and that you increase corporation then now and uh joe well let's say on the foreign market uh it's gonna probably wieger margin or market share if he tried to pass it on um the company might be inclined to move overseas and you hit a lot more unemployment and lake uh ironically you know the only thing people that uh uh you know again peace company probably own them in their mutual fund so uh the shooting foot but i mean that they're in there and there is no there is no possibility of a in in uh in in this negotiation of raising a corporate taxes that's that's not going to happen right the cries can i get the blow gig can they get them lowered now the and the other day they talking about corporate taxes yeah i i think it was i think it was schumer that i saw that i and i forgot to bring this up yesterday we're talking about the fact that i do believe that they'll be a least a even if it's just you know with fifty one votes if they do get a bill that passes with or the eventual bill will at least cut corporate taxes a couple of percentage points i don't know what a beaming they were talking 22 twentythree i don't know could be twenty eight twenty nine who knows what it eventually is especially since they themselves seem to be lost as to what what taxes they can raise in order to give those middleclass tax cuts uh and i think that they're lost a on on that i think the president say why hoped to get done by the end of the year i thought to myself yesterday that was in the confidence that he had just a couple of days ago and so i wonder if he's even seen the fact that in a when he came out with his tweet and said no 401 k stays.
"corporate tax" Discussed on WWL
"Cut taxes for all family i mean you're you're talking about right now in economy that still struggle and we we have a lot of jobs that are still be in shift to other country because their tax rates are too high we have the highest corporate tax rate in the world and we need to fix that we so we want to lower taxes for everybody which will create jobs which get the economy moving again and correctly start rebuilding the middle class that it evaporated over the last ten years we'll steve enough of that i really wanna talk about you and i guess it's okay that i say this i talked to you about six weeks ago and i told you then that it was so good to hear your voice that you are one of ours and in this community was so concerned about your wellbeing and your wife for new children in the disruption in in your life and i cannot tell you nor can i express enough how happy i am that you're back in your recognition of the first responders that were with if you was second to none your interview with sixty minutes was unbelievable you you're here roma man and i just i can't say enough you know win this country gets to this point uh that we need rocksolid folks like you to step up and you did in so many different for and ways in you you will be a guiding light up the for a lot of people in our community of thanks so much no ally i i can't tell you look i mean it was the top experience what i went through my family all went through whitney um but what i got out if was just an overwhelming a display of lavin in been walked and prayers from people all around the country i mean obviously back home here at southeast louisiana uh i'm honored to represent gift great district congress but just the people the family the french people i never even met all throughout southeast louisiana just work to an incredible thanks prayer groups.
"corporate tax" Discussed on WCHS
"Corporate tax rate while from what is it 35 percent down to twenty percent to make it more competitive with the rest of the world you're going to get economic growth how much i'm not sure but you're gonna get more economic growth why because those who create wealth we'll have more wealth and i don't think that's a bad thing because what do the wealthy do what wealth okay scher okay maybe they buy better cigars maybe they buy nicer bottles of wine maybe the give it to their kids i don't know what to do with it but they also reinvest in their companies and they also buy new equipment they also modernized also hire more workers i mean if they dealt at least concerning businesses they won't be in business very law soul lower taxes equals greater economic growth text oppy history doesn't lie every time tax cuts are focused on the top the rich richer the rest either remain stagnant or lose wealth and the deficit increases well no that's not a of like at his said that's not exactly true sometimes the debt and the deficit increases sometimes it doesn't you're going to get economic growth in a think take a step back and just think about general economic philosophy if you want to get more of something you tax that west if you wanna get less of something you tax the more if you wanna get more economic growth in the country which is really what we need i mean we've gotten used to this this two percent which we've had for the last eight years if you want more economic growth then what more of the wealth stay with those you create the jobs and create the wealth talkline on metronews voice of west virginia you were prime information source that has stood the test of time the area has relied on the voice of.
"corporate tax" Discussed on BizTalk Radio
"To your shareholders while through finishing the sec the you don't have a choice knife so you lower corporate taxes we have three percent corporate tax rate the highest of any other need us residential corporations of the incentive to leave most elsewhere as corporate tax rates around fifteen percent in industrialized nations you bring up fifteen percent against sealant deregulate regulate well what i wanna i wanna i wanna lower corporate taxes bringing the companies back here now people arguable that you have increased labor costs one let's increased labor costs by fifteen percent fifteen percent lowering corporate touched by 24 raising labour fifteen that's a net gain of what nine percent less you have spending what spending the economy seventy percent origin is based upon consumer spending so that's why i that's what i think the market's going up because the promise of lower taxes and then we get to this request of deregulation well here's the question of leading hugh is currency what if we deregulate currency would that be a good thing when the fed well fantastic in retirement bitcoin theory and blunting well sure i i'm not sure this is what the some regulation is good but some isn't but well what can you see the argument of that was likely to decline me and why it's welcoming soap opera nc isn't really regularly other than the amount that we print but but let me tell you you're right but not for the reason that you think your yet in and i'll tell you why at all times down to the creature from jekyll island judiciary the creature from jack lawlesness nickel mr high though no odd you the crucial jack landless different different jacco the federal reserve does a is that federal it's not it's an independent agency right nobody knows who owns the federal yeah well that will who owns it we just don't know how much they all loans if the reserve not the federal government banks right banks on the fat banks or the shareholders this that's billion martin give you this monopoly game right you're the baker right you can could do this and i lose so the people that borrow against luther reserves their loan money the banks who don't have a guy who have to borrow money because they can't meet the requirements right liberal money and zero percent right and they charge you what zero percent that's exactly.
"corporate tax" Discussed on KMJ NOW
"That a corporate taxes is asked a established then what well there are that those are some of the concerns that we raised in the report are issues that we raise as for the legislature consider we didn't see sunsets in the the six corporate tax expenditures that we looked at now we also are asked by the legislature the look at what other states do in some other states do have sunsets but in california we didn't see any particularly for the six largest corporate tax expenditures rd is one of them but the of the six we looked at that accumulated that the totalled up to about two billion dollars on an annual basis none of those had a sunset day on them and i would think that it it would be if it does have a sunset date it's going to be very difficult and probably to change because there's constituency there that wants that that corporate tax break so i think once it's in prior pretty hard to get out what an initiative oversight does it require a lot of the ministry of oversight these corporate tax breaks no not necessarily in fact and deal legislative analysts office has done some research in the past days to look at a tax credits in the past they don't necessarily look at all of them now but some some of the research that they've done and analysis that they have done shows that it doesn't ric choir a lot of administrative oversight we don't have one state agency in california that's responsible for that but we we don't think and we agree with la oh that it would require a lot of administrative investment or what about the let's let's let's let your has supposedly and oversight function are they going back and seeing if these tax breaks having their intended effect no not necessarily and that's one of the recommendations that we have in the report as a best practice and we actually saw that as a best practice and some other states so maybe they'll doubt that are in california thanks for explaining the basics of corporate tax breaks 'cause i know that's a complicated topic up next what did the review of the state's biggest corporate tax breaks reveal that conversation in a moment this is the matter report welcome back we're talking with state auditor elaine how about a results of a recent investigation they did on tax breaks.