35 Burst results for "Tax Policy"
What Is Trumponomics?
"What is Donald Trump's proposed pandemic policy going into a second term right? So we talked yesterday about how Joe Biden is very much focused on containing the virus Donald Trump on. The other hand is very much focused on vaccines and treatments for the virus. So he has said that he wants to begin distribution of a cove in nineteen vaccine by the end of this year and a number he has put out there is to have three hundred million doses available by January twenty, twenty one. Now that is a lofty goal and of course it. is very dependent on weather pharmaceutical companies. Scientists are able to come up with test and approve of vaccine and then produce it on that scale hundreds of millions of doses. So this is the thing he wants, but it is not entirely under his power and he's been kind of de emphasizing the role of the federal government when it comes to containing the virus. Right and leaving it more to state governments Donald Trump has very much been focused on states. No best governors and state legislatures know best what they should be doing to control the virus in their states. I'm in Washington I I don't know what you need in Nebraska. So the Nebraska Governor, for example, hypothetically should be the person to be calling some of these shots. Also he has been very much attacking Joe Biden's and some other Democrats. Willingness to say look some places, some businesses some schools might have to close down to contain the virus Donald Trump has taken a very you've got to live your lives. We have to have the economy open sort of approach that's the rhetoric he's been using. Okay. Let's go on to the second part of the president trump economic agenda, which is about job creation. As a big policy goal especially in the next year what's going on there right. So he set a very ambitious goal of ten million jobs in ten months. So if you can imagine ten straight jobs, days of a million jobs, a piece or something that averages out to that was great. Yeah. Yeah. Let's let's do it. And by the way, we are down by roughly ten million jobs from where we were pre pandemic. So what he's saying is in ten months, get back to normal but the question is how this is a lovely idea but it's not entirely clear how we would get there. Now one thing he has said, he wants to offer tax credits to manufacturing companies that bring jobs back from China, but that would not get us anywhere near ten million now in addition I reached. Out To. The White House to ask, okay, what else is on the docket and a spokesman got back to me and he largely pointed to past policies saying, for example, lower taxes, deregulation trade policies, and the relief packages already passed laid good groundwork for future growth to happen. So in other words before the pandemic, the economy was going great and I did that. So I think I can just get us back again is a line of logic that he is often using now. There are a lot of flaws to that logic questions that raises for example, should the president get full credit for that? I mean Arguably no long debate long. But yes, he has a very big lofty goal here but not a clear map to get to that goal. Yeah. I, WanNa point out something kind of interesting here though because the president has administration is campaign have talked a lot about lower taxes tax credits tax policy but he did sign into law the multi trillion dollar cares act he has been negotiating. With Democrats in the House of Representatives over a multi trillion dollar new stimulus package, and it's actually the Republicans in the Senate who have said that they don't WanNa. Spend that much more money but the president himself has said that he would be willing to do a big deal he would be willing to spend. Yes. That's true and when you look at. The different numbers put out there between Senate Republicans, the White House and House Democrats. There is a lot of daylight and even then even if it were just the White House in House Democrats, there are also some gaps there in terms of what House Democrats want and what the White House doesn't want. But yeah you in all three of those parties and. They haven't been able to reach a deal and you and I. Both Know American people are very much hurting right now, high unemployment people still on unemployment and needing money to buy the basics. Let's go to the third and final part of the economic agenda that we're going to discuss here, which is trade wars. Trade wars have been a big dominant part of. President Trump's rhetoric and of his actual agenda throughout his first term I suspect we would be seeing more of the same in second-term. Yeah. That's exactly right I mean trump has said that he plans on continuing to used tariffs specifically against China in his second term as he has this term and so the question is what exactly would that do and what would it induced because we did sign that trade deal with China. In February the phase one trade deal thus. Far from the numbers we have China is not on track, meet the commitments it made to buying US goods in areas like agriculture for example, this was a deal that happened after both China and the US had raised tariffs on each other, and then in exchange for lowering some US tariffs, China agreed to buy some US products but so far it's not on pace to actually by as much those products as they said, it was going to. Yeah but on top. Of all of this, there are complicating factors. One is that trump has very much been demonizing China. When it comes to corona virus, he keeps calling it the China virus and thanks to the effect of China needs to pay for its role in Corona virus spreading all over the world. So you can imagine how that might make trade talks in the future much tougher is need. I would imagine exactly that I would add one more point here on the topic of. China and it's that there has been broad agreement bipartisan agreement for a while that yes China has been engaging in unfair trade practices in all sorts of ways. So trump may have the diagnosis right that yeah we need to do something about China's trade practices but the question is whether he has the solution the cure right here in terms of tariffs tell you what l. been so great to have you on our show these last days. Thank you so
'Dude, I'm Done': When Politics Tears Families And Friendships Apart
"Now you have likely seen it or felt it yourself. Now A recent survey shows how the nation's bitter political divide is taking a toll on friendships as NPR's Tuvia Smith reports with political polarization hitting a fever pitch. Even decades long relationships are caving under the pressure. It's been happening everywhere on social media, and in really life did straight up there. Dude, I'm done Lose my number that Shimada Davis from L. A. I just hung up on my end, and I proceeded to just block them in every possible way. Joanie Jensen from New York. I hate families, everything but I just don't know and Ricardo de Forest from Florida, there among the many Americans dumping friends over politics. It's one thing to disagree about tax policy, says Davis. But this is deeper. It's about morality and justice. As a black man. He says he simply could not abide his friend of 25 years down playing police brutality. It's like if this is your attitude. I don't respect you. Now I don't because people are really dying. It's also that kind of moral absolute to Jensen, retired professor and sexual assault survivor who cut off a friend of 40 years who was being cavalier about the allegations against Trump's then Supreme Court nominee Brett Kavanaugh. He was going off flight. Oh, you drank the Kool Aid Cabin on boy. He didn't do anything. I said if this is his core ethics, I don't want that kind of person in my life Conservatives, Of course. Khun B. Justus, quick to spurn the liberals in their lives who clashed with their core values like life or the biggie for Ricardo de Forest Liberty. They sold our country out. This election is about the soul of what America is. He can be a free country. Andy, a socialist state to forest, a 61 year old steelworker cut off several cousins who he calls hard core Trump haters all they can do it. From the races on man bed on man raises, you know, blowing spittle in and veins popping out of their heads Yolk soy Latino, But I guess I'm some sort of horrible races because I like Trump. Ridiculous. We are seeing more political polarization today than at any point in modern history. Jocelyn Kiley, with the Pew Research Center says about 80% of Americans now have few or no friends across the aisle, and the animosity goes both ways. Democrats are a little bit more likely to say they'd end a friendship. But Republicans, maybe a little bit less likely to say they have friends on the other side, so it may not be all that differential. Everybody is doing this Tania Israel The University of California psychology professor runs workshops on cross the aisle conversations, she says. Both sides have big blind spots when it comes to the morality of their own side, and they all view themselves as eminently fair. And right. When I say all these things, I think I found fairly reasonable and see the other side as irrational. Just something wrong with these people. Whether conservatives like the forest or lefties like Joni Jensen, I said, Oh, my God, he really is brain. Wass. Everyone Tanya, Israel says could use a little more intellectual humility were flattening people out, you know, in terms of our view of them and not really seeing the full complexity of people on the other side. It's exactly what Georgia truck driver Jon Langford says his brother who's gay did to him. He went off on the sand. Essentially, I'm a racist and a homophobe. Just because I'm a trump supporter, knowif stands or butts. Ain't completely cut me out of his life, Langford says he's trying to not do the same and toe hang onto his friends. On the other side. I could assume that anybody that supports Biden is a firm believer that it's okay to murder a baby, but I don't From the other end of the political spectrum. Connecticut business consultant Jeff Maren Steen is also straining to stay friends with some trump supporters. Despite all the invective and insults, you know you live They're all the same or these ad hominem attacks. Maren Steen no longer talks to some of them with others. He just doesn't talk politics. It just feels like the healthiest thing for me to do at the moment. But, you know, I suppose the risk is that I'm just retreating into my own information bubble with people who think just like me. Indeed, experts say more conversation, not less is what's needed to heal the
How Europe is responding to the coronavirus pandemic
"Want to start really by having a look at what is happening in this part of the world and certainly how countries In and around a Middle Europa at handled covid nineteen as pandemic some economic powerhouses. The United States of course the UK have had a bit of a miserable time. You could say but Germany and Switzerland are getting back on their feet and even in the last hour or so here in Zurich. We heard the country's main aviation hub of the national carrier. Swiss have outlined an incredibly aggressive relaunch plan. Of course if we go north to the border in Germany LUFTHANSA'S HOPING TO INC. It's bailout package to do a bit of the same well for more on this. I'm joined here in Zurich Rob Cox regular with us. When is the global editor of Reuters breaking views and on the line from start in south western Germany on a Rosenberg as also the line and she is head of Europe and the UK at the political consultancy Sigme Global? Welcome to both of you rob. I wanted to start. Do you think something is up? Maybe in this country I think also we look to Australia and certainly Germany as well as everyone starting to behave as a bit of a block at a time when everyone is supposed to be yes nice nice role in together are we moving into a period where people are maybe trying to score a few points. Released position themselves That look we are open for business. And we're moving ahead here. We're kind of in this competitive de Lockdown Mode. Where everybody you know? Calm countries like Switzerland which WanNa score high on the the Doing Business World business indicators and things like that and I think they have something like thirteen hundred. Us companies alone. That have offices or something here so everybody is trying to kind of to ease the ease travel. Do it in the right way. But also the same time to showcase that they've done a good job or a decent job of of battling pandemic of ensuring that their citizens have safe that that and doing it in a sort of you know an intelligent way And in some ways opening opening up the borders as a way to show that off now I think they're quite conservative. You saw you saw. The Federal Council was saying yesterday and in other countries. You know there are still this tension between the politicians as it were and the health professionals at still going on. We're still going to see that for quite some time. But there's definitely a sense of like like let's get moving again But the the the big issue though is you can't just apply what the Swiss do or the Austrians due to say London or Dublin or Perez and I think so. The worry is a little bit like we have these fights over tax policy right That you have this sort of race to the bottom in some ways and I think that's it's one has to be quite careful. So if the Swiss open up or the Germans and people say Look Frankfurt's open for business in Syracuse. Open for business. The worry is that these other guys. I don't know or London that engage a well. We better do it quickly. Problem is that there's no one size fits all for battling this pandemic Rosenberg. When you look from your side of the border but maybe across to Austria and Switzerland do you feel that may be an of course? Federal Council Minister over in Vienna yesterday front from Switzerland. Do you feel that the dock nations are starting to to get work in a bit of unison? Work as Mitteleuropa to say that we can together be the the engine that we can point direction. We know that this is a time of of not great central leadership. I'm not sure if there's really a cross border collaboration as as that. I think it's more happening more here. Is that individual states within Germany. I using this as an opportunity to profile themselves when you look at pandemics throughout history typically they benefit smaller entities smaller countries smallest state smaller city states. And exactly the same has happened in this pandemic and Jimmy Away is positioned the way is positioned also because of its highly federalized decentralized system which means you have sixteen individual states that can make their own lockdown and opening up decisions and these decisions currently being made. They're all over the place and I would say there's kind of a rather than we're in this together. I would say there's a little bit of a rivalry at the moment towards who can open up. Fossa who is more concerned with the health of individuals citizens than the others? So it's still pretty much an looking inwards would say Germany. Do you think that some of that also ladder is up though? I mean whether it's whether you're talking about Bio You're talking about no Don Volya that obviously people who are sitting at the Foreign Ministry in Berlin. There were trying to figure out. How do they put this into a concerted message Which they can put across globally? I get the sense. is certainly in Switzerland while the Swiss like to talk about being humble and they don't WanNa talk about having had a good pandemic you do get the sense here that they are trying to. Of course push their message. This is a country that is going to be open for business. If you need to come to Europe And hopefully do need to come to Europe to have a meeting. Then maybe you might consider coming here. I and I'm wondering if Berlin regardless of what it's doing with a federal structure with the states are doing they're trying to have some kind of unified message or no yes. Of course ultimately there's a lot of coordination still trying to be made on on the national level. Am I do think that Germany has certainly benefited from this Kobe crisis? It has turned a crisis into an opportunity and for a variety of reasons and I think Germany ultimately when you look at where Jimmy Stewart's just before the Kobe crisis it wasn't quite a weak economic position that was stagnation that was not enough of investment. Going on into key sectors of the economy that was all these arguments about stepping up fiscal stimulus and spending and constant pushback from the government that wanted to stick to strict fiscal prudence. All of this is different now. The government is saving business left right and center splashing out it's investing and the economy. The Gym Mindset has changed to away from Frisco prudence that was evidenced of course the supporting joint debt with other European nations. And so in a way. Jimmy's kind of taken an advantage from Kobe. In repositioning itself. And I think if you ask me what does Jiminy and the EU stand in one. Two years down the line. I think Germany will clear when I hear on that we just before we went on air we were talking and you just touched on Dublin Dublin. Of course as as essential in Europe which has done very very well at tech. But we're now in a moment right now we're of course. Companies are more mobile than ever. And certainly when you look at some of those players who are who are in Dublin. Of course their headquarters being On on the. Us West Coast yet. There is mobility They move around the going to look of course for the best tax breaks That are out there. Is this also time and again I mean. Certainly you see the power of the money that various spends on go and put your headquarters or least your your regional or European headquarters in Munich. For example do you see this kind of acceleration? Absolutely the ease of doing business index. This is this is going to be part of it. Everyone's going to look at how you did it during this crisis And I think and how quickly you were able to come out of it and I think come. Countries like like Switzerland Like some of the Nordic countries that have have done a pretty good job a relatively good job relative to France or the UK or Spain or Italy are so they're going to have a better pitch to make an a country like Ireland. Which is you know punches. Well above its weight when it comes to global headquarters for I say European headquarters for many of these TECH COMPANIES. The facebooks and people like that that is also
Tax Credit for Keeping Workers on Payrolls Draws Bipartisan Interest
"Package there does seem to be growing bipartisan support for the idea of expanding an existing wage subsidy keep workers on payrolls and help businesses stay afloat Richard Rubin covers US tax policy for the Wall Street journal is written about this and joins us live now in the KCBS ring central news line Richard thanks for the tennis one is what we're talking about here is a tax credit and for those of us who don't cover economics for the TV basically explain how this works relative to other ideas that are out there yeah thanks for having me this is basically a a wage subsidy so basically means that the government would cover anywhere up to eighty percent of wages and benefits for an employee it in and it's really by up to forty five thousand in Valerie and benefits so what that means is that for employers that are suffering from closures or from revenue decline they would have sort of a a partner in paying their workers which is the government so essentially when we say tax credit if you dig it comes off of whatever taxi company would know does it turn into a surplus if if the number it adds up to they get a check back from the government they can basically if you know the the amount of the credit is the percentage of wages that that they would get and then but the company does to get the money is instead of sending it payroll tax instead of sending him even like the employees income taxes they just tell the government how much the employees they're withholding for the employees and they have to keep that money so one of the advantages of this is that it's really fast instead of spending money in the company and the employer just keeps it and then on top of that if there's not if that's not enough to cover the full amount of the subsidy you can file a special form to get money back faster for the IRS so this is a for a small business means the quarterly tax payments the bi weekly payrolls all that they could be sitting on cash that otherwise would be heading to Washington exactly the idea is just to turn the payroll system the plumbing of the payroll system around instead of like companies and employers spending money and they get to just keep it potentially get some back it is a real key distinction between the way this works now and under the expanded proposal for small firms versus large firms small firms from employers can get credit for paying people whether they're working or not and larger firms can get only if they're paying people not to work it's actually furloughed and your reporting founded tell Democrats and Republicans alike seem relatively warm to this idea yeah I mean for for Democrats it's a fool like the payroll tax cut the president wants but there's some advantages to it over that okay this has to be somewhat larger per employee and it's more targeted and and for publicans they're really looking for an off ramp from the six hundred dollar a week extra client benefits looking for ways to kind of support the workforce encourage hiring and and retention without necessarily keeping unemployment benefits quite as high and and so it could be tricky though going forward trying to figure out how to calibrate this because they're certainly going to be some plaintiffs out there where there's going to be extended unemployment into ministries for a long time so how do you have to manage that while also trying to encourage people to stay on payroll and hire people back
Stimulus checks being sent to dead people, leaving loved ones confused
"In under a month the IRS delivered more than a hundred and thirty million corona virus relief payments to Americans that's two hundred and seven billion dollars that was part of the relief package passed by Congress during the public health crisis but the speed has come with some significant mistakes NPR's Tim mak has been talking to the families of dead Americans who got coronavirus relief checks Bob lemon dues father passed away in December so Bob who lives in Houston notified the V. A. and the Social Security Administration that his father had passed in order to stop payments from them and those were halted but on April fifteenth Bob who is a co signer on his dad's account noticed a payment in the amount of twelve hundred dollars he was a corona virus relief payment from the IRS I feel bad that this money is sitting in my dad's account I don't know what to do with it and there are people out there that need it badly and that bothers me quite a bit I wish I knew what to do with it but I don't treasury secretary Steve Mnuchin said one week ago that any payments to the deceased would be a mistake and should be returned but this is raised more questions than answers this mass confusion that's Jenna holds what of the urban Brookings tax policy center there's been no official guidance as to how in this instance people should return the money that was received for their loved ones the Irish does not typically track information on the deceased in America but other parts of the government such as the social security administration do it appears that there was no cross referencing before checks went out the scope of the problem could be in the millions the CDC estimates that two point eight million Americans died in twenty eighteen for example and there are signs that people who have died more than two years ago are receiving payments Karen McClure of fort Collins Colorado experienced this first hand her mother passed away in January of twenty eighteen but in April of this year she received a payment of twelve hundred dollars the government is being very reactive instead of proactive to this situation which I I find frustrating mark Iverson is the former IRS commissioner serving from two thousand and three to two thousand and seven he told NPR that the IRS has generally been doing a good job but there's a real trade offs of speed versus accuracy in the processing he says the people in this situation should rely on official guidance people need to rely on the information they get from IRS dot gov but that's not so easy when it comes to this topic three so will not the seventy one year old in Rockford Illinois has been trying to do just that she lost her partner of thirty nine years Frank dica just two months ago last month he received the payment I'm coping with Frank stuff pretty well at this point I'm not over it I probably will never be over it but it didn't that part didn't bother me I'm I'm probably angrier at the government for sending out a payment to somebody who's deceased three says been trying without success to find guidance online from the IRS to send the money back so I went online to the address on the letter and looked for a long time trying to find some way that I could first send the payment back and I couldn't find that so look for a way to contact somebody at the IRS or treasury or whatever to return the payment and I couldn't find that NPR did not fare much better than Theresa after multiple requests the IRS directed questions to the treasury department the treasury department pledged to have an answer by Tuesday morning as of the sharing the treasury department has not answered questions about what steps the IRS is taking to address this problem or what to do if a deceased loved one
The IRS Sent Coronavirus Relief Payments To Dead People
"In under a month the IRS delivered more than one hundred and thirty million corona virus relief payments to Americans. That's two hundred and seven billion dollars. That was part of the relief. Package passed by Congress during the public health crisis. But this speed has come with some significant mistakes. Npr's Tim Mack has been talking to the families of dead. Americans who got corona virus. Relief Checks Bob. Meduse father passed away in December. So Bob who lives in Houston notified the V. A. and the Social Security Administration that his father had passed in order to stop payments from them and those were halted but on April fifteenth. Bob Who is a cosigner on? His Dad's account noticed a payment in the amount of twelve hundred dollars it was e- Corona Virus Relief Payment from the IRS. I feel bad that this money is sitting in my dad's account. I don't know what to do with it. And there are people out there that need it badly and That bothers me quite a bit. I I wish I knew what to do with it but I don't Treasury Secretary Steve Mnuchin said one week ago that any payments to the deceased would be a mistake and should be returned but this is reasonable questions than answers this mass confusion. That's Janet Holds Plan of the Urban Brookings Tax Policy Center. There's been no official guidance. As to how in this instance people should return the money that was received for their loved ones. The IRS does not typically track information on the deceased in America but other parts of the government such as the Social Security Administration. Do it appears that there was no cross-referencing before checks went out the scope of the problem could be in the millions the CDC estimates that two point eight million Americans died in two thousand eighteen for example and there are signs that people who have died more than two years ago are receiving payments Karen McClure of Collins Colorado experienced this firsthand. Mother passed away in twenty eighteen. But in April of this year she received a payment of twelve hundred dollars. The government is being very reactive instead of proactive to this situation which I find frustrating Mark Iverson is he former. Irs Commissioner serving from two thousand and three to two thousand and seven he told NPR that the irs has generally been doing a good job. But there's a real trade off of speed versus accuracy in the processing. He says the people in this situation should rely on official guidance people need to rely on information from. Irs Dot Gov. But that's not so easy when it comes to this topic Theresa Wilmot a seventy one year old in Rockford Illinois has been trying to do just that. She lost her partner of thirty nine years. Frank diker just two months ago. Last month he received the payment. I'm copying with frank stuff pretty well at this point. I'm not over it. I probably will never be over it but it didn't. That part didn't bother me. I'm I'm probably angrier. The government for sending out a payment to somebody who's deceased Theresa has been trying without success to find guidance online from the IRS. To Send the money back so I went online to the address on the letter and looked for a long time trying to find some way that I could. I send the payment back and I couldn't find that sort look for a way to contact somebody at the IRS or treasury or whatever to return the payment and I couldn't find that NPR did not fair much better than Teresa after multiple requests the IRS directed questions to the Treasury Department. The Treasury Department pledged to have an answer by Tuesday. Morning as of this airing the Treasury Department has not answered questions about what steps the IRS is taking to address this problem or what to do if a deceased loved one received a payment
Paul O'Neill, Former Treasury Secretary and Alcoa CEO, Dies
"Paul o'neill a former treasury secretary who broke with George W. bush over tax policy then wrote a book critical of the administration died Saturday in Pittsburgh according to his son he was eighty four the former head of aluminum giant Alcoa o'neill served as treasury secretary from two thousand one to late two thousand two but forced to resign after objecting to a second round of tax cuts because of their impact on deficits after leaving the administration o'neill worked with author Ron Suskind on an explosive book covering his two years in the White
How do you prevent a coronavirus recession?
"One find oneself today in the uncomfortable position of having to explain a hypothetical the White House. Promise the president himself in fact promise that we would have details today on what is administration might have in mind by way of Corona virus economic stimulus on the not misbegotten assumption. That this virus will hit the wider economy and potentially hard. So what do we know today? We know there's talk of relief for American oil drillers. We also know that relief item number one seems to be a payroll tax cut The first thing to realize is what's a payroll tax that Sarah Sinclair. She's professor of economics at the George Washington University in the US an players are required to pay a proportion of each employee's salary in taxes. Six point two percent to fund social security one point four five percent for Medicare that's part of our taxes that we see coming out of our paycheck and pay roll according to the Tax Policy Center. We all paid one point one trillion dollars in payroll taxes in two thousand seventeen. So the idea behind a cut. That's pretty clear. Get a lot of money and a of people's pockets quickly and hopefully out of people's pockets just as quickly in the form of that all important consumer spending however come a lot of times. They don't even necessarily know. Notice that additional money because it's a relatively small proportion of their paycheck in two thousand eleven president Obama cut payroll taxes by two percent giving families in average of a thousand extra dollars to spend a year before that the w Bush administration sent straight up checks to taxpayers which averaged about a thousand dollars both designed to boost sluggish economies. Today though the big worries a little bit different Nicole. Kaeding is the vice president at the National Taxpayer's Union Foundation. People aren't going to restaurants and are cutting back on seeing movies and not going to. The bowling alley is often not because of financial constraints. It's a public health. One all that social distancing and canceled events. They met her economically. Those restaurants and Bowling Alleys and movie theaters are going to see a decrease in demand decrease in customers in the short run but economics and the economy are complicated. Ain't nothing that happens in isolation. So here's Tara Sinclair from GW. One more time if we all need to cut back in order to protect the health of our society then we do need to rely on some fiscal stimulus to make sure that our jobs are there when we come back. Here's the thing about a payroll tax cut though. That gives some people a little pause in order to get the benefits of a payroll tax. Cut You have to be getting a pay check and getting a little money over time as in a slightly bigger paycheck every couple of weeks tends not to be as stimulative as a relatively larger amount of money all at once so there is that more to come on the corona virus stimulus plan as soon as Congress and the White House. Figure OUT WHAT IT IS. GonNa
Indigenous legislation update
"South Dakota is a hotbed of proposed right. Now that could affect a number of states Native residents from banning offensive mascots to boosting native voices and policy decisions proposals have both beneficial and detrimental potential to tribal citizens. One bill from the governor's office defines what a riot is and pushes for violators to be charged with a felony. The bill replaces previous legislation. That was dean largely unconstitutional. It comes as the state prepares for construction of the Keystone Excel pipeline. Won't get an update on this. Another bill provides funds for community schools with the native culture focus. And we've got a state senator from South Dakota Phillips in on what he's working on and we're also GonNa talk about national legislation that aims to change important tax policy. And we'd like to hear from you give us a call. If there's a particular piece of legislation you are keeping an eye on the number to join us is one eight hundred nine six two eight four eight today. We're GONNA start off in Olympia Washington With us today is Senator John McCoy he is a Washington state. Senator Representing District. Thirty eight and he is. Tulalip our pleasure to have him here today. Senator McCoy. Welcome thank you. I'm happy to be on the show. Well Senator McCoy you're here to tell us about Senate resolution eighty seven three. It has to do with boring schools. tell me a little bit about that. End Of course an update on some of the legislation. You're working on okay. The boarding school resolution Was brought to you by one of the staff. One of the native American staff and so I head or begin with the you know with the first draft and then we have other native American on staff and Of which was a collaboration going through and developing that He's legislation and then Me As the member than I introduced it and We heard it on March second and We had a number of folks from tribes near here and we did have one elder that That was at a boarding school so she was Quite pleased at resolution in so when issues like this are being addressed through legislation. What kind of message does it send out to the community? Think well to begin with I've introduced quite a bit of legislation around k. Twelve schools in one of those is a group of curricula On since time immemorial and this is giving the A truer picture of Tribes here in the state of Washington and Those are being integrated into the social studies. of Washington state. Because we have twenty nine tried and so There's a lot of misconception about tribes and so This is one way of helping reduce that and getting the factual information out so I have a number of bills that that are working to their The majority of what I need. It are done Now it's changing. Some of that that was permissive. In the beginning I now need to make it mandatory. So that's the process that I'm going through right now. We know a lot of work goes into holding these positions in bringing issues to the fore and in especially giving a better understanding and so Senate McCoy. Is there anything else you'd like to give us an update with before we let you go? Yeah Quickly This week We will be Passing a tribal tax bill and I found it interesting that the US Congress is bringing that subject that today or are yesterday That anyway That's another one that time has come. That needs to be done. Well I appreciate you spending your time with us today. We she well as you continue to work for your community. Maybe Senator McCoy is one of your senators There's an update on some of the things he's working on Maybe you are keeping close attention to certain Body of legislation of it is moving through the system. That may affect. Maybe even your own family. If you'd like to share some thoughts on where things stand right now or ones that you want to put on folks radar go ahead and call in one eight hundred nine six. Two four eight is a number. Thank you senator. John McCoy for joining us today. We now skip over to Pierre. South Dakota on the line is troy. Hind Heiner D- He is a state. Senator Representing District Twenty Six and he is Rosebud Sioux our pleasure to have him here. Senator Welcome. Thank you for having me in. So we're going to keep this momentum going tells a little bit About I guess let's start with SB sixty six To provide for the creation funding of Ojt chicagoly community based schools. Tell me more well in this This bill really came into design Last summer I was approached by a group out of rapid city that they just wanted to see a different avenue for native kids in our state. we're losing far too many of them Out of our traditional school model and they said we want to try something different so we worked through. This process got to the legislative session drafted a bill changed it numerous times. We we were able to gain governor support and by the time it hit the Senate floor I it came off the Senate floor. I was a thirty five to zero. Vote something I had I didn't expect in was pleasantly surprised with And it it works with the local public district and that was important to me as a former public schoolteacher. I wanted to make sure that the public schools still had the opportunity to be involved in this in this process. unfortunately It had its house hearing this morning and there were Individuals came in and and offered some testimony that kind of muddy the water And it it's failed in committee but we do have a plan To maybe resurrect Senate bill sixty six and hopefully get it hurt on the House floor and and regain its momentum that it had coming out of the Senate in sometime. Senator when something like this happens It is also time to maybe retool or even bring the need of the story Ford more in so understand how you see. This isn't a setback. A lot of this is also about educating communities or fellow Congressional folks about you know our native nations and our needs and so We're really interested in hearing some of the other things that you're working on to You're also sponsoring a bill to create a commission on Indian affairs. Go ahead and tell us about that. So you know in South Dakota we. We've done a few things. Throughout the years. Last year we we passed Indigenous language veal indigenous language of South Dakota with our our nine tribes So we're working at educating my colleagues on on native issues and the importance of them They I mean affairs commissioned it was really designed to be another Educational Tool For the State of South Dakota you know we do have the office of state travel relations. But that's really about you know And that's a governor appointed position. So that's really about the governor trying to reach out to the nine sovereign nations and South Dakota this. This commission would would be a place where we can talk about either the coming session and legislation that is needed or relationships between Towns and cities and Native people of South Dakota. It's just another sounding board. That hopefully could be used To increase the knowledge base of our. You know South Dakota friends and neighbors as well as a place where native people felt like their voices are being heard
Mnuchin warns UK over digital tax plan
"The macro economic quote. Oh the day today comes to us. Courtesy of Treasury Secretary Very Steven Mnuchin by the World Economic Forum in Davos at which Mnuchin was on a panel where the conversation turned to European plans for a special tax on big Internet companies. Most of which the Internet companies are of course. American here is the Treasury Secretary. I think we've been pretty clear that we think that the digital taxes discriminatory discriminatory in nature. And you know if if People WanNa just arbitrarily put taxes on on our digital companies we'll consider arbitrarily putting taxes on car companies. There is a lot in that sixteen. Spare seconds of audio. So we're going to take it apart a little bit here for a bit. I the basics with molly would use of course the host of marketplace came on. Hey Guy or it's a hippie with a very quick primer on the idea of a digital tax explain yeah you have a lot of companies in Europe saying that there are these companies whose product is primarily digital right. It depends on data from their citizens and they're making a lot of money in these countries and they're saying look. We should get a piece of this revenue Pi. It's business being conducted here. It's taking away from and local businesses so France kind of kicked it off with this. Three percent digital tax and several other company countries are prepared to follow suit and the US mission said just does not like it why the US does not like they. You heard him say it is discriminatory hit it. It really does the tax on companies that make more than about eight hundred fifty million dollars in annual revenue globally and in the example of France. Do Twenty five million alien euro worth of digital sales in that country. So if you do that math. That's about three companies. Google facebook Amazon. And they're saying this is a target on American American companies and it's taxing these companies over and over and over on the same revenue an important factor. We should say that the president said maybe a couple of weeks ago if anybody's going to tax these companies America's is gonNA taxis company so there's also that Where does this go? Do you think right well. Not a way sure. Despite by the the state of the discourse and the conversation about it You know Francis said it's going to move ahead with this tax Italy Turkey Austria. Spain Belgium are are all considering digital taxes and the fact is that this is a real issue that does have to get solved this question of kind of how you deal with companies. He's of this. Is that fundamentally don't have boundaries so there's talk of a global tax structure may be being worked out within the OECD that it would be a major shift in global tax policy but without a doubt the conversations far from over Indo forget despite what the president said a lot of these big tech companies also. So don't pay their taxes in the United States right Interesting that this country by country in Europe and it's not under the umbrella. Yeah exactly and I think that's what what makes it so tricky now. France has said that were there to be an E. U. Wide Agreement on taxation. They would be willing to go along with that. That's a hard thing to work out. And it wouldn't an address any of the other countries that might come along and say that they also wanted digital tax. Molly would she does the marketplace tech talking digital tech stuff. Molly thanks lawn
Are the rich really getting richer?
"Turns out the old adage could be true that the rich get richer and they sure did this year the world's richest five hundred people solve their collective net worth jump by twenty five percent in twenty nineteen according to the Bloomberg billionaires index the world's five hundred richest people saw their collective net worth jump by twenty five percent or one point two trillion dollars Facebook CEO mark Zuckerberg added over twenty seven billion to his net worth Microsoft co founder Bill Gates came over twenty two billion combined the collective net worth of the world's five hundred wealthiest individuals totaled nearly six trillion dollars the new report comes as wealth disparity remains a hot topic in the election progressive lawmakers are calling for tougher tax policies for the ultra rich Jeff mackay
Trump Warns Trade Talks With China May Last Past 2020 Election
"A let's talk a bit about trade in the markets this morning so I've been twenty four hours president Donald Trump is issue to series of trade threats on three continents it's a reminder to financial markets that the president is comfortable heading into an election year using tariffs as his main source of international economic leverage but as our next guest points out without a trade truce and a US China trade deal the global economy is headed for recession will joining us now is in the test saw who is director of research at wisdom tree very good morning to the test that is not the sort of base case for most the the global economy goes into recession next year but it is for you is that right whoa oh base case is that we could could get some trade deal done because of the presidential election but to yesterday's comments and comments we frequently heard of last few months personal risk on to that so we think that the risk of going into a recession is very high and and we believe that we were started slipping into recession we can see that international trade has slipped considerably global patch the minis indices while they may have patted the little last couple of months but they've been heading south in the below the fifty marker of Dimock demarcation between the construction and expansion so we think that you know do the comments made yesterday and and and and in the months before really increase the risk of recession by many fold is it also part of the mold of the global tariff issue because it's not just China those Atari problem with Donald Trump is threatening massive tariffs on France but also because the Harris on Brazil and Argentina I mean it seems to be among the many fronts this trade worn is that part of the engine which is driving what you're talking about absolutely so you know it started off with primarily a US China trade will but if the reason the success in in trump actually of protecting the did you S. from Chinese imports than that blueprint will be deployed elsewhere we've seen a lot of that this week the terrorists on metals from Argentina Brazil because he's unhappy with their currency policies is hope trump tools and hot I'm happy with the tax policies it in in the on the side of it every year end within days within Europe and he may you that increase terrorists here as well so this punitive tariffs applied relive the place ain't on top of sanctions will re knows our players he wrong in Venezuela so they did the number of protectionist policies or increasing by many fold yeah so protectionism is a is a significant concern but did you think the markets have been there for much too complacent overseas becoming now increasingly difficult actually to price trade war especially when he sees you to becoming so widespread possibly so the impact of these trade wars has probably been a manufacturing so many factions being weak globally but the consumer in the labor market been holding up pretty well and on a global basis not just in the US but in Europe as well but that may not last forever as you know that there will come a point where a slowdown in manufacturing could bleed into the rest of the economy if if the presidential election is will the way to the back end of twenty twenty even if there is a last minute Catholics to get something done it may happen too late and that's why I think the risk of a global recession is pretty high at this point what about the European aspect of that because of the low to focus on to the German dates of French staters well and Italian a sense that we need some sure really where this is moving in European terms we have a new head of the C. B. of course is trying to move towards a whole review of that policy in trying to keep things together what's your take on Europe going into twenty twenty yes I think it you your pet will be a particular interesting area because we will return to we know that interest rates or negative in Europe so the ECB's policy space is very limited we have to think a lot more you know creatively in terms of what he does for a in terms of reaching into his toolbox we know the quantitative easing when deployed previously had been criticized heavily for you know being a set price re re re face rather than goods and service press refresh rate so I think could easily be will respond to some of those criticisms at the same time the European Commission is under new leadership as well and DC be under new leadership of the Christine Lagarde who is a politically astute leader I think that that they'll be a time for creative thinking and that could involve money tree in fiscal institutions becoming closer together even in Germany which is being very very against you know anything beyond interest rate policy you know we are seeing political change there as well the eight SPD are pushing for towards abolishing the zero black policy of balanced budgets if we start seeing that those cogs move we could start to see the ECB and Los number fiscal stations across Europe becoming closer together yeah me seventy seven is dedicated in the pipeline at least if not longer so you yeah we'll have to see but you're a fun as Mrs also meeting today to discuss kind of reforming the year every year and and the banking unit of but it just also want to get your take on a pet because thought it was a pop the more immediate issue folk markets and we've had already put mixed signals about whether we get a get further cuts to output say if Iraq's oil minister speaking saying that they would want to diesel cut of four hundred thousand barrels per day to offset slowing Dimond I mean a lot of other say that does not seem likely that sent out live voice you've taken it is yes Sir it's good it's clear that the opac at least need to extend current cuts that that's a baseline to wed at least to the middle of next year until they have the next policy meeting so I think the okay to keep the policy taking over by sort of mid policy even media policy meetings but beyond that I think the reason a strong incentive to cut even further because we'll prices all extremely weak at this point in time and they're not working knowledge in some of the geopolitical risks but that not seen as something that okay call really could control but the it's hard to for these OPEC countries to expand their topics into it in into the oil fields in an environment of low we call prices one of the top of that Saudi Arabia is just about to float it's a it's a another company a Saudi Aramco and it needs a stronger role of prices for the food to meet its valuations I know he's already notes down these valuations of two one point five two will play seven trillion away from to treat him before but is we embarrassing to go for something even lower than that so Saudi Arabia as a de facto head of OPEC will be pushing all members for deeper cuts alright miss ash thanks very much indignities show the director of research and
Germany Is Next In Line For Political Upheaval
"Germany next in line for political upheaval. The future of the country's ruling coalition is in doubt after the newly elected leaders of the Social Democrats amounted fresh concessions from. I'm Angela Merkel's party. It raises the prospect that Koby Elections in Germany and twenty twenty can learn more now from Stephanie. Bolson correspondent for the German newspaper Duvets. I'm I'm Stephanie. Thank you for joining US little more about these new leaders of the SPD. What he's they want? Well what is very interesting about these new leaders that it Me personally will not be an exception saying that. I have hockey ever heard the names before. So it's not about a eskin ZENDA SASKIA ask Simply a cold and they They came out of the blue so there was a very long process in among the membership to see who would now follow analyst. She was the leader of the mind was very unpopular and actually unto Saturday evening. Everybody was thinking that it would be That the new leader would be We'll have shorts the incumbent Finance Minister and then these two came kind out of the blue and and then won the race. Why do you think that happened? If there was an expectation that it will be a relatively well known relatively mainstream within the Party auty candidate why. Why is this happened If you look at the polls in the membership of the SPD. The majority of membership wants Serb leadership. It's now for the first time dual so it's woman and a man who are more or less leaning the SPD. A membership is very very unhappy about the the costs that the party has gone for many many years they have been in a coalition with a CD you Since two thousand seventeen were inequality before so we have actually seen almost ten years of a coalition between the two big parties and memberships things that Angela Merkel has basically Louis Take away the whole profile of the PD. So all the left leaning politics like minimum wage Gay Marriage image all these things socially progressive but also economically progressive has been Well to the benefit of Mackerel and the junior partner now who the. SPD's has been such a long time has really lost profane and it was every election. Pilings have gone down. Isn't it always as the way though in coalitions that the junior partner doesn't get much of what they want. Yes it is very much a movie scene that in Britain for example with a coalition between the Conservatives and Liberal Democrats between twenty and twenty fifteen a lot of the policies were implemented. Were actually ideas by Liberal Democrats but the Conservatives as the biggest party will always very successful to say. Hey that was our success and the same has been happening in Germany the problem for the SPD the is though they if they even now set. Okay we are going to leave the government coalition that will probably not be paid back At the next election because is the sense in Germany that you have been voted in. You have agreed to a coalition. You have to take the responsibility if you're now going going away just because of say kind of selfish party folk was reasons. This is a this is unacceptable and therefore they are between rocking hot place Whether they stay in the coalition which is bad or they leave the coalition which might be even worse. The Christian Democrats have been rebuffing these coals to renegotiate negotiate but in the end if they want to avoid elections next year they're going to have to give in on something they might give into something. I mean we really now in the in the early hours they say nothing room for maneuver and Knowing Angela Merkel she will try to find a way that they may be renegotiate associated some social policies some tax policies that The new as Padilla ship can can get out of this face saving. But as I said before I don't think it's a good option for the SP to cause breakdown of the coalition German business community has reacted already. This morning has set The Cook what isn't government should stop navel-gazing and look at the challenges of the future like digital modernism modernizing gem in digital he'll systems Looking for more progressively into climate change or climate protection and not being so self-focused. So I think both parties have an interest to solve their Their their frustrations and that they are the rows with each other because they will both suffer the pulse. Angela Merkel has already said that you weren't contest the next federal election though it sounds like at this rate had time office maybe ending little sooner than we may have thought it might be the case again if you I think it's something like seventy five percent of the German public says they do not want the coalition to To to end they wanted to continue until September. Twenty twenty one when there is the next regular election federal election and also the WHO does. It's not have any well not strong interest in a in early poll nutty election because they have problems with to decide who they actually really want to run as the successor of America. So they have unagreed come cannonball. WHO's the common defense secretary? And she's also the leader of the city but she's highly unpopular. Actually only two weeks ago. There was a party conference by the CD where she offered to resignation. Because the tensions are so high in the city you so the the city was not ready either to fight a election campaign and therefore I think at the end of the day none of the two big parties has any interest to to eleven addiction. The only party. That hasn't a party that has can have a reason to go funny action at the Greens because the Green Party has the best pulse for a very long time. We were discussing earlier in the program the change in leadership in the F. D. Party as well and you would have thought that those in the political mainstream wouldn't you wanted to create uncertainty in the risk of election at a time when the FDA is trying to build support. Well the I if t is certainly Louis very popular and especially in East Germany but the decision The new leadership now off the AFDC which is even more right-wing sinophobic Lebed leadership. The I mean that remains to be seen how many people continue voting for the AFDC having in mind that the leaders are well. Outspoken Anti antisemites. SINOPHOBIC I think it's because until now the AFC also got a lot of protests voters and. I think those people will think twice if they would want Want to vote for this kind of Party A. Stephanie Balsam. Thank you very much
Biden's lead shrinks as he tap dances around the economy; Sanders and Warren close the gap
"Us former vice president Joe Biden still leads the democratic presidential primary field in a new fox news poll but senators Bernie Sanders and Elizabeth Warren are closing the gap Mr Biden leads all the candidates now by eleven points compared to his nineteen point lead back in June meanwhile some Democrats seeking to challenge president trump have pursued significant changes to tax policy and business regulation and would shower benefits on the less fortunate Mr Biden always charting a different course envisioning as he put it a reordering of capitalism what does that mean it's a story by Jacobs Schlesinger reporter at the Wall Street journal Jacob what you hearing thanks for the invite and it's taking a different tack which is to in some ways embrace some of the same goals and concerns about how the economy actually works but taking a much more moderate and centrist approach to healing those those problems is that the way to say that he's talking out of both sides of his mouth or not necessarily. really and I would say you know critics would say that and his supporters would say that he is you know charting the proper course both for the economy and politically you know there is a lot of attention certainly the technically on social media to as a radical changes to the economy but you know polls show a greater ambivalence on the broader electorate and even among Democrats who consider themselves moderates to to going to those lengths to break from past democratic policy and so I think it's a it's an attempt to try and to tap into the energy and the concerns that are driving a lot of the debate but without losing expose the the portrayal of the elected to some comfortable with where that's going does Wall Street fear him you know I think that what she probably at some level as Sears in general about the election where politics is heading generally the has certainly mixed feelings about the Republican Party right now well they like a lot of. the transparencies whether it's tax cuts to deregulation based on the latest trade policy in the broader uncertainty that he brings to the table in his own ambivalence about you know pro business policies enables you to the concerned about where the Democrats are heading speak with Jake Schlesinger Wall Street journal senior correspondent based in Washington these rid of peace and that'll Joe Biden's economic tap dance so on the economic policy front what is Mr Biden in favor of he does favor some fairly significant changes to existing policy he wants to expand obamacare the affordable Care Act to couple more people into included a public option the ability of people to opt into some kind of Medicare equivalent which is something that president Obama himself tried to get through Congress but failed to do so Biden wants to move towards zero carbon emissions in twenty fifty with a significant increase in spending to change the way the US manufacturing works he was done for two years of community college for free the triple funding for schools public schools in low income areas he wants to re order the tax code a bit dealing some of the some tax cuts that would go to the upper room income household as well as changing the way capital gains are taxed so you know in terms of each of those areas he's checking a lot of the same boxes that some of the more liberal candidates are talking about he just doesn't go nearly as far as they do I was gonna say so what what might he not do then London eager right. so I mean if you just look at taxes for example he does talk about a need to reorder the tax code and make it more fair but you know what his signature proposals which is to change to a capital gains tax partly to reduce the capital gains rate and households that make more than million dollars a year also and sort of warnings that slightly technical statement but one that's important for those who follow these things is to to get rid of what's called stepped up basis in capital games where if my father had a portfolio that he bought for a hundred thousand dollars in value a million dollars when he died and passed it on to me I take it is worth a million dollars and don't pay any capital gains on the chelation of that value would change that that's a pretty important change for people who clearly vice president Biden. change the people who care about those things and who have capital gains and do whatever intestines that would reach four hundred billion dollars over ten years please check check Slazenger senior correspondent at the Wall
White House mulling tax cuts but not to counter short-term weakness: adviser
"The White House floating the possibility of more tax cuts but not as a short term fix to counter economic weakness just to be very clear we're not formulated tax policy for some sort of near term action we don't believe in the recession talk I think the economy is very strong economic adviser Larry Kudlow on the fox
White House mulling tax cuts but not to counter short-term weakness: adviser
"The White House floating the possibility of more tax cuts but not as a short term fix to counter economic weakness we're not just to be very clear we're not formulated tax policy for some sort of near term action we don't believe in the recession talk I think the economy is very strong economic adviser Larry Kudlow on the fox
India And Kashmir And Kashmir discussed on Worldly
"Why don't you start us off with the backstory around what's going on in india and pakistan yeah. Let's go back to nineteen forty. Seven british rule in india ended india was then partitioned into two independent states india and pakistan stan but they disagreed about the jammu in kashmir region which wanted to be independent but was coerced to essentially remain part of india with jim amo castro now part of india never really turned out to be an easy fit <hes> the reason of course being india was pluralistic but primarily hindu and and jim mm-hmm of kashmir india's only majority area and so fitting into sort of the broader scheme of the country it always was a bit kind of out of place and and really that jim cashmere people like that because they like they had their own sort of autonomy and they had their own culture and they didn't necessarily early listen to new delhi <hes> they didn't really care about what was happening that they felt separate completely so it was always an awkward relationship so to speak right now it also it has a slate of very particular rights that have been guaranteed by various different agreements part of this is because the ruler of kashmir who then went into india as part of this sort of whole situation at the creation of the state negotiated with the indian government to acquire basically self determination rights now yes yeah so article three seventy of india's constitution codified the kashmiri borders is so basically laid out what idia gets pakistan gets but crucially it said that okay yes jammu in kashmir a part of india but this region can have its own constitution and could basically govern everything for itself including education tax policy. I mean everything except for foreign and defense policy new delhi capital of india would take care of those things but everything else would basically be handled
Treasury issues final rules to block blue-state workarounds to SALT deduction cap
"There's some bad news for residents of high tax states. The treasury department has released new rules that shut down a tax planning strategy that could have helped residents of states like New York, New jersey and Connecticut. Get around the new cap for state and local tax deductions with more on this. We're joined by Wall Street Journal US tax policy reporter, Richard Rubin now rich under the GOP tax law, individuals and married. Couples filing jointly can deduct at the most ten thousand dollars of their state and local tax payments from their federal taxable income in response states enacted work arounds to this. What were they well, those work arounds, basically took advantage of the fact that, that charitable contribution deduction is not calved, even though the state and local deduction is into those programs. Did is they basically conferred, it would otherwise be state taxes into deductible charitable contributions, you could make a donation to a state affiliated fund, and then you get state income tax credits or state. Properties or local puppies X credits for that. And so your tax Bill would go down and stay under the limit while your charitable contributions would go up. So what do the new treasury regulations do treasure? They say you're actually getting something in exchange for that charitable contribution. So it's like if you go to a charity dinner and you pay a hundred bucks and the cost of dinner is fifty you can only deduct the remaining fifty not the full hundred until it's, it's a similar kind of fence equipped quick for quo benefit principle, and that's you have to subtract any tax credits. You get from your charitable contribution in debt basically, makes these programs not work. Why did the tax law cut the deduction capped by so much going, there was no deduction cap before a fifty cent? There was limited somewhat if people were in the alternative minimum tax. There were a couple of arguments. One was that it because most of the benefit went to high tax states that an ended up being as federal tax subsidy for. Those states the other argument was that the Republicans needed money to pay for their rate cuts. And so it was way of broadening, the tax base and lowering tax rates. Well might states and municipalities, go to court to challenge these new regulations. Rich sure, I mean, you, you certainly may see some of that happening, you know, from New York, and even from some red state programs that we were sort of like this, and, and predated the twenty seventeen tax law. But I you know, the treasury's, I'm pretty solid ground trying to interpret and implement the, the purpose of, of the cap. And if you allow people to essentially turn state taxes into charitable contributions, you're really kind of circumventing, the gap, there, there were programs in Arizona, South Carolina, and Alabama and Georgia, and other states that have been similar that essentially let people make donations to private entities and get the tax credits for them and under the old tax law that generally didn't give you much of a federal tax benefit. Now did. And those are really going to be affected the small exception for people who make donations in total Texans under ten thousand dollars. But I in general, this is going to limit those programs just like it's going to win the New York New jersey in candidate. We're trying to do Wall Street Journal US tax policy reporter, Richard Rubin. Joining us from Washington. Thanks, rich. Thank you. That's what's news for Wednesday afternoon, line, Charlie Turner for the Wall Street Journal.
"tax policy" Discussed on KBNP AM 1410
"Entire day yesterday uh democrats were repeating the moronic claim that the gop tax bill would hurt most of the middle class with so bizarre about the claim is that it's an assertion that it's already been pretty well debunked by their own leftleaning tax policy center otherwise knows tpc of those folks claim that the gop tax cut would actually reduce taxes for about eighty percent of the country and they were pretty much echoed by the joint committee on taxation the jcc which of course is a nonpartisan congressional score keeper as well as the tax foundation which does lean ripe but again the tax policy center tpc leaning left essentially agreeing with the other two additionally last month as it also touched upon the washington post fact checker glenn kessler wrote the following under the headline senate democrats falsely claimed gop tax plan will raise taxes for most working class families unquote this would glen count when kessler had to say was no friend of dum trump is you know quote in their haste to condemn the gop tax plan democrats have spread far and wide the false claim that families making less than eighty six thousand one hundred dollars on average will face a hefty tax cuts a tax hike actually kessler goes on to say it's the opposite most families in that income ring each would get a tax cut any democrat who spread this claim should delete their tweet and make clear they were in error now strangely however as you'll recall just from yesterday democrats decided that they could still succeed with the law y that most in the middle class would lose more than they would gain but you got an wonder once people begin to fill up their own returns won't they also discover how democrats brazenly lied to them about that which they can see for themselves is simply not true and perhaps won't that potentially hurt the democrats.
"tax policy" Discussed on WAFS Biz 1190
"Make it more advantageous for corporations to hire people and do business in this country it's good for the economy and as i said what's good for the economy is good for all people yeah i think the other thing that's worrying me and i'm crossing my fingers and like hoping that you're right on all of this and that it is really positive because one of the things that also is sort of an assumption that's made is that and and look good businesses do good things by their people but one of the assumptions is that if businesses save money on their taxes they're going to hire more people there to treat their current people better pay them more of those kinds of things not all companies do that and so that's the other side because there's nothing forcing accompanied to do that so yes there are great companies i'm sure yours is one of them i know minus where we're going to do that but not everybody is and so then you know there are some concerns about the to do some people get left behind in all of this well that's always the risk of but but i think the the larger majority of all corporations goal is to grow their business yeah and you grow your business by investing in your business in that means investing in people yeah the tweeting and training investing in technology and those are the things that will help you grow your business well if through tax policy and other regulatory reform you can make it more advantageous for a this has to do exactly those types of investments yeah then it's good yeah it's a good thanks are fake i believe that's the goal of the tax reform uh and hopefully that'll that'll be accomplished yet listen the other concern i have and i'm just going to put this out there to you is that everybody who decided to vote yes for this i i hope that they are all doing it for the.
"tax policy" Discussed on KKOB 770 AM
"To be able to grow expand create some job things of that nature is that you think that i never i never never unders a never understand that narrative because i believe that companies expand based on demand for their products they don't expand based on tax policy they need demand for their products to justify hiring and justify building plant and equipment and hut and buying equipment and building plants they need they need demand and unless they have the demand they're not going to do it in my as i see it right and so just allowing you know allowing the company to be able to keep a little bit more of the revenue generated each year you don't think there's a possibility that in some cases back at allow for them to you know if they're coming out ahead at the end of the year because there are a lot allowed to keep more of their revenue there's a chance that they could be willing to you know start to expand the business if they know the demand is there but maybe they don't have the capital to be able to do it well than maybe now they do i i mean i don't know that still well the problem with that is that there's no shortage of capital right now we are in a highly liquid economy because the federal reserve policy there's money all over the place there's no shortage of money companies are flush with cash right now they have a lot of cash right now and i and i would say that from my experience i've never had a conversation with the ceo were the ceo said if i could get a tax cut i would give my employers my employees a i don't see any connection at all yeah i agree on the race i mean i i don't see that happening either i just thought maybe that if there was.
"tax policy" Discussed on KBNP AM 1410
"That were thrown in the last minute for instance with there was an there was an alternative minimum tax for corporations that will say on back into the mix and they forgot to check it out the generalized that amt for corporations it's twenty percent right and i was checking the average corporation pays like seventeen there are a lot of car operations zia to get out of a taxes raised because they'll also we've seen we've seen technology which is you know i mean a a good a good sort of a easy way i think not not exactly uh a thorough way but an easy way to look at what's happening with textile because the nasdaq index i'd ask one hundred or the nasdaq composite and you know the nasdaq is actually gotten hurt pre substantially over the last week or so um with the idea that tac quote unquote was going to benefit the least from all the changes that were occurring in terms of the new tax policy um but at eleven thhour they threw in this corporate alternative minimum tax i think it was saturday morning at one a m or something they wrote if the get someone's throat at georgia they rooted in the marred yeah i mean this is like rahab kim this this is not right so nobody read and well that lead you to believe that that there are still a lot that hass that you know the fun what the final bill looks like that gets that gets reconcile between the house and senate versions of the bill it is going to look different than where we are today saucier is still on the grinder yeah and so the idea that somehow based them what the the senate approved you know at the at the.
"tax policy" Discussed on Vox's The Weeds
"Notebook covers if teachers to it and you know i mean good for them and in that case but then you can take it away right and that's the kind of sort of like really smallbore stuff that can happen and particularly the the corporate side is is famous for right that like this is a different appreciation schedule for corporate jets that for commercial jets right and you can truly like micromanage like what kinds of behaviors you wanna reward and which ones you want to disorder disfavor and but then the tax code is also an important sort of structuring concept for american society so you churches have a special kind of tax status and one of the provisos on that has long been that a church can't be doing express political advocacy and an electioneering but the house bill would would rescind that right so that's not really up it's on what you think of as a tax policy measure but it sucks complete change in that sort of regulatory more go of the whole country ryan to stick with a teachers for second on the house bill also expands the ability of five twenty nine savings plans to go to a private armed k through twelve schools are certainly private high school and i think it's gatorade as well which shows that there is very much a a hit on the teacher's unions and day you know a give me two more fluent parents who work and we know private schools or or senators to private schools i think one thing is the framework that has been used to discuss tax reform for a long time and it's one that paul ryan republicans views is the idea of tax simplification and the ideas that you know you're going to get rid of all these loopholes are going to get rid of all these deductions and then your knees it to bring down rates overall and both sides of that equation of kind of fallen apart in this one is that at at out on purpose to his very obvious that they were going to do it this way when is that there is a lot of new expansions irs new deductions for tax expenditures on the corporate side which may or may not be good ideas burnett simpler they're not on a post card is the metaphor does um in we just talked about a 539.
"tax policy" Discussed on KBNP AM 1410
"Taxes and debate in washington over changes in tax policy as find out more from wayne weingarten he is the senior fellow in business and economics at the pacific research institute wayne let's just begin by a baby laying out from your perspective what needs to change for tax policy to help the economy grow if we're looking at a proposal that is out there the most important part is the corporate income tax reform the us corporate tax system is still out of balance and so uncompetitive compared to all of our global la uh global competitors and think they'd have the very well known to the idea that will bring in that actually down who thirty five percent to twenty percent and the fact that we're going from the global tax system that nobody else has to the territorial tax system brings our car a corporate tax system into line with the global competitors and important what are your thoughts are gonna do for us is it's gonna stop these kind of movement of inversions in companies moving overseas can all stop and the incentive is going to be the port briefing here in the us leaning is seal about uh the healthcare angle that spin pulled into this tax debate with the senate prevision removing the obamacare payment uh that are required it's a it's a bad data more complex deal you're going.
"tax policy" Discussed on KOMO
"Independent tax policy center found the house version would lead to one in four americans paying more taxes in 10 years than they do now while the nonpartisan congressional budget office said it would raise the deficit one point seven trillion dollars that's two hundred billion dollars too much to pass the senate with just republican support house republicans say it's still early in the process we every framework that we established with the white house and the senate in these bills are being ridden with inside that framework democrats argue neither bill actually helps the middle class the republican majority has repeatedly promised a middle class tax bill but instead they've concocted of tax cuts for big corporations in the very rich the president's top economic adviser on the nbc seemed to back up that that view the most excited group out there are big ceos textbooks trying to align the two chambers could take more time than president trump wants to spend gbp bill the end of the year republicans in both chambers feeling the political pressure going into two thousand eighteen one gop senator not mincing his words saying of republicans don't get tax cuts they will not survive the midterms serena marshall abc news washington it's 544 it's time for a komo aaa traffic update on a friday morning here's marina rockinger it's getting heavier north on i five through federal way from 328 as you approach the 516 interchange nothing to unmanageable yet northbound 167 flow up towards can't bridges look rates both directions across lake washington no trouble southbound i5 coming out of lynnwood in fact coming out of everett looks good as well southbound 405 pretty easy through bothell all the way into bellevue next look at traffic at 554 marina rockinger komo news our weather forecast mostly cloudy weather there's is a slight chance of a few sprinkles developing later on this morning most rain is to the south of us washington hi today about fifty degrees forty two for the overnight low now for your weekend cloudy tomorrow with a few showers and then the increasing to steadier rain late in the day and especially overnight saturday night and especially sunday run as the rain sunday could be up to a half inch fifty two degrees for both days this weekend so looks like early saturday tomorrow's.
"tax policy" Discussed on WJR 760
"Tax policy and so that's pretax are really doesn't affect him you could have just a pretax and then if you do it pretax and you don't have to item is that on your on your taxes so you can still simplify it but when you look at it right down all the different things out there and less you make everything pretax while you're not really going to simplify the tax system now there is not going to be a through tax reform here there are too many moving parts and you've got to many things and in basically every direction that sets the other side of the senate or the house and i'm talking just him within the republican party off so you're not and a have you can't move too many things in as you pointed out the numbers got add up in a last last week they were talking about a cuts to medicare and medicaid federal medicaid while don't tell rand paul that you know this was a again this goes back to though hole healthcare thing but so what you're going to what you're basically you're saying is if if that's the case you're taking away benefits from low income people and retired people if you're making those what's good luck with that a we're no we're not trying to be the bearer bad news were simply tell you the reality was going on that nobody oakland audio nut nobody's talking of no nobody's asking those questions.
"tax policy" Discussed on The Resistance Report with Robert Reich
"What we have here from the treasury department from the trump administration from donald trump himself are a stream of alternative facts made up to mask policies that will overwhelmingly benefit the rich but which are pretending to be policies that will help middle class and trump's working class voters now according to the nonpartisan i'm just i'm gonna give you this step please it's important i know it it may be a little bit dry it's not it's coming out of your paycheck so it's not dry according to the nonpartisan tax policy center the wealthy would reap about half of all of the tax benefits in the tax plan in 20 eighteen the wealthiest one percent we take home a one hundred twenty nine thousand tax cuts so next year if this tax plan goes through people who are at the top they get a one hundred twenty nine thousand dollars in tax cuts that is a big hefty tax cuts if you're in the top 1 percent but if you are in the center of the income spectrum if you're just an average middleclass person or working class b person at most you would have eight six hundred sixty now it tax cuts that's it and you're not even really going to get a 660 dr tax that because big at because there is going to be a huge they're going to have to be huge spending cuts in social security and and medicare and medicaid and every place else so you in the middle or you poor person you are actually going to come out way way behind and the people with an oppor going to come out way way i had i mean it's no secret everybody knows it.
"tax policy" Discussed on WSJ Opinion: Foreign Edition
"And it really what they need is to doubled down on a debate about growth and i think that uh manual macro and france to his credit is doing that in some ways in could certainly the gist of his uh labor reforms and domestically he understands the power of tax cuts um it to stimulate economic growth and he can talk very eloquently about that but at the same time a not owning eu white level it's as if they're they're stuck in this trump release stow aren't thinking about growth they're thinking solely about governent government revenue and it's almost as if they aren't considering that there is a connection between revenue and growth in the i think the bottom line so this is a big opportunity for our policy makers in washington if they want to seize the initiative on some of these new tax issues the big opportunity for countries like japan the recently been cutting their or corporate rates to be more globally competitive a to try to profit from a hard europe's tax mistakes here we are talking about global tax policy in this is foreign edition from the wall street journal enjoy our podcast then listen in your car before you start down the road just think dr smartphone using blair tiff or plug into the us eightpart guide apple carplay just tap on the podcast app and search for wsj fao then extend your getting behind the wheel take athalon and enjoy the ride the wall street journal listen ambitiously.
"tax policy" Discussed on WSJ Opinion: Foreign Edition
"Um but you do have to think the two inert here again you could have another economy in major economy that a hot you would be prepared to compete on on tax policy and a home it it so i again i think the another dimension of this is also the france angle because uh in the new french president emmanuel macron a big economic reformer who's doing a lot of the right things in the domestic economy in yet uh i think that perhaps for political and also for fiscal reasons he is really jumping on the bandwagon a high in terms of pushing brussels detroit revisit these tanks rules to extract more for a mali's america other the american tech giants that seems like a pig missed opportunity to write it there is no clear way is there for for these countries to uh differentiate about the income that is is generated within their borders i mean are they trying to use for pierce the pert uh the corporate veil of these uh of the companies that are basing themselves in ireland and other other tax havens it yeah i think that the thrust of this as the current system tends to look at where is the ah economic activity such as the r d you're the development of intellectual property uh that is the ultimate root cause of the prophet in then try to your tax in the jurisdiction were that activity occurs were is i think that europeans because they are so far behind a inning you allowing their own domestic entrepreneurs to develop tech giants.
"tax policy" Discussed on WSJ Opinion: Foreign Edition
"And you go i think that this raises a really interesting question in terms of the timing about a global tax policy because the inner than the one hand you can really look at this is a european foible on the you know the stereotype of europe has always been that it was very high tax and yet europe is doing this at a time when a america's embarking on a major debate built a tax reform booth corporate and personal uh countries like japan who've been our revisiting their corporate tax rates recently and so i i think the good question to start with is really in the big picture here is europe leaving itself behind uh while other developed economies are starting to think again about whether taxes are too high with should be cutting them right at the athletes it's interesting that there's more tax competition seeming to be unleashed around the world whereas europe is going in the opposite direction very it's it's traditionally had some tax havens but it's trying to stamp those out right right and you know i think one of the things that's interesting is that i actually so many of these tax cases here arise because europe has become the tax haven for american companies i think if you look at the amazon case here or art last last year in august 2016 uh in a much much bigger case our brussels had demanded that ireland collect something like 13 billion euros or fourteen a half billion dollars in tax from apple.
"tax policy" Discussed on FiveThirtyEight Politics
"Well like when it when it when it's in his way yes now i know he wasn't waning it out right he wasn't going to get a simple majority any wish i guess he with healthcare yeah i i mean i don't know the ins and outs necessarily of you know a tax breaks here and then a a you know it the deduction here and so on so far but i will say as i think claire was hinting out our early in the conversation with nate is that be costs fewer americans are completely tuned in and think that this is the top issue in the most important issue and people are short is set in their ways it does allow for negotiations to more easily take place politicians to go back to their people their voters and say hey i got this that another and because tax policy is much more complex than healthcare at least in terms of people's understanding of it i i think that it does open up the by the way a big republican selling point on tax plant has always been we're going to simplify the tax code right which is sort of like speak for like what's that regressive income tax all about you know like i do think that that's an interesting and that is a talking point here they're trying to go from seven to three or maybe four by it's not a it is amazing all his post up with healthcare and taxation policy it just so happens to only benefit like the super duper wealthy you know i mean that again was kind of the amazing thing about healthcare is that when the reasons healthcare failed is that um the first versions of the bill include massive massive tax cuts for people who are very well author actually changed by the time you all to graham cassidy i know this is unproductive but like.
"tax policy" Discussed on WSJ MoneyBeat
"And it's important to know what the resolution will say and what the agreement ultimately as because uh as i said that's going to determine how much on what the ultimate tax bill can deal on because if they want to pass it using this procedure known as reconciliation it has to fit within the parameters set by the budget committee so it's very technical and complicated but it's actually a really important thing um if you're if you want to follow this tax process coast closely you should be paying attention to it and of course we have fabulous tax policy reporters he'll reporters who will be all over that this week and will also get the international trade data on the trade data um that's another area where as i mentioned i think we'll we there could be pretty significant um effects from the hurricane um the trade data may be kind of distorted and part of that is because in a with harvey and arm especially there were some ports closed and so ships were rerouted um there are also i as i understand some just issues with reporting the data um they couldn't get the data to the commerce department so i think that um that those numbers could luck kind of weird it's not really it's not really clear yet uh the only thing is is earnings and there's really not a army were still not you a few interesting a few of interesting though yeah yeah all lenore on tuesday which is kind of reaching pepsico on wednesday obviously be concerned montsanto on wednesday to and costco on thursday so you know.
"tax policy" Discussed on KSFO-AM
"Not going to get away with taken that deduction up not going to happen and child tax credit is never going away and it's not going to happen in our lifetime we can talk about what should happen what we believe is the best tax policy what we would like to see but in terms of the gop putting something together or anything getting past on capitol hill i'm also a realist and i'll tell you what i believe will happen it won't happen and and i do wonder if they knew those deductions were going to be right off the bat boom from out they had to they had to have known that because i wonder does it at all was there any strategy behind it to helps often the lowering of the income tax rates for the the highest earners or the lowering of the corporate tax rate did they believe that that would somehow give them leverage in those ariel that look that's why i wasn't excited about any of this because it's a framework we don't know what adventure bill is going to be and everybody seemed to jump on this yesterday you know all these conservative groups and thai this is a great point go you don't know if it's a great plan we don't know with no income parameters are for any of the the the rates whatsoever it's not clear what what you're going to be able to duck deduct and what you can't deduct i don't know on the corporate tax rates what the effective tax rates going to be if the effective tax rate ends up being higher because you take away so many deductions from the business of it then that doesn't get you to the.
"tax policy" Discussed on WBZ NewsRadio 1030
"That your fellow american stand behind you in we will be here for you as you recover and rebuild this labor day we honor the men and women who built this country who continue to power our economy today including all of those who are critical to hurricane rescue and recovery efforts american workers laid down the railroad tracks that move people on products across the country they toiled and minds digging the coal that power our industrial revolution they forged the steel that built our bridges and tax in skyscrapers they worked on shop floors building cars and trucks and plain that would take our country to new heights in they built the strongest middle class in with it the strongest nation that the world has ever known this pen i wear is a canary in a birdcage yorker gave it to me remind me of the progress that we've made in this country for working people at the turn of the last century and 1901 workers took canaries down in the minds of the canary stopped singing it meant there was poisonous gas in the workers had mere minutes to get out those workers didn't have a union in those days strong enough or frankly a government that cared enough in those days to protect them but of the 20th century we change that we pass strong labor laws to protect the rights of workers in needs grew millions of americans worked hard to earn their way to a better life as our economy expanded the wages of ordinary americans grew along with today it still american workers who power this country but they're hard work doesn't pay off the way it used to for far too long our trade policy our tax policy have encouraged of corporate business model that shuts down factories in toledo or dayton or mansfield ohio cashes in on a tax credit at the expense of working americans in then ships production overseas moves those companies overseas to renault's tsa reynosa mexico or war on china then cells those products back into the united states far too many of the jobs that remain here don't pay enough in wages and benefits to compensate workers for the hours they put in over the last 40 years katie he's gone up corporate profits have gone up executive compensation has gone up but workers lavigne's shared in the economic growth they created wall street's made billions but the.
"tax policy" Discussed on The Energy Gang
"Well on it would be really helpful if we can get the investment tax credit for geothermal back in you know it was one of those orphan credits that that dropped out and it would really helped them a lot if they got it back into into our tax policy they should partner with the fuelcell folks um but do these projects pencil out without the tax credit jaeger how how severely does that limit the market without the tax credit as so i don't think the tax credits needed for for the commercial market so there's one group out of dallas it's doing it tone of work in schools for school projects and then there's there's others as well that are quite active schools are actually really interesting because the fact that they are sort of offer part of the year is a good thing because it allows the reservoir to sort of rehabilitate itself so i i it's it's been fascinating to learn about the industry but i i'm actually much more bullish about the commercial sector in geothermal than i am the residential sector just because these can be really expensive systems i mean they can easily be thirty to fifty thousand dollars per home right now maybe they can get their costs down but dumb and that thirty thousand their system can actually you know serve a small commercial low just like it does residential writer there any components aside from the drill itself like changing the casing when you're drilling or the heat exchanger the pomp are there things were you see you could shave off significant cost or is it really like in the customer acquisition side and the straight up theriault.