18 Burst results for "nicole kaeding"

"nicole kaeding" Discussed on WMAL 630AM

WMAL 630AM

05:27 min | 1 year ago

"nicole kaeding" Discussed on WMAL 630AM

"We are going to be joined by Nicole Kaeding from the national taxpayers union foundation how is all this going to affect your wallet and there's a couple of elections today across the country a few primaries have been delayed because of coronavirus but others continue at pace Josh Croucher with the details and what's at stake today seven o'clock on W. M. L. W. N. A. L. F. M. with which Washington well five point nine FM W. and eight where Washington comes to talk WMAL news at seven good morning everyone I'm John Matthews this slow shut down of the DC area continues with the mandatory closing of bars and restaurant dining rooms gymnasiums in movie theaters in Maryland and DC and many other businesses have closed voluntarily to contribute to the effort to achieve extreme social distance thing and that's putting a damper on Saint Patrick's day the timing couldn't be worse for Irish bars hoping to make a killing this St Patrick's day normally on that day you make what you would make and say a month so it's gonna be a big impact since takeout and delivery are still allowed manager Jennifer Nugent says they'll be doing curbside and hopefully we can make enough to cover the bills and obviously we've got a whole lot of corned beef and cabbage here once the danger is over I'm sure all the Irish buyers will get together and try and do a Saint Patrick's day in July Kurdistan WMAL WMAL dot com more closures the U. S. supreme court's postponing courtroom arguments for the first time in a century and when the justices do meet later this week it'll be by phone six of the nine justices are sixty five or older the Arlington Catholic dioceses at stopper forming math the episcopal diocese of Washington has now put off all church until mid may the case count in the DC region is risen one hundred sixteen fold in the twelve days since the first reported case twenty three known cases in DC forty five in Maryland fifty two in Virginia Virginia has claimed the only two deaths so far in the region both of them from the Newport news area both men in their seventies Johns Hopkins University is ramping up its capability to process corona virus tests right now they can do about a hundred a day a day by the end of the week we should be able to do a thousand tests the day we did also order AT a robot with the robot we will be able to get up to fifteen hundred a day health system president Dr cabinets to ours says they are trying to preserve their hospital beds in that most patients will be able to self quarantine at home with many businesses on mandatory shut down Maryland's counting on police to enforce the law and the state police superintendent says troopers will arrest business owners and customers who do not comply in Frederick County sheriff Chuck Jenkins says his deputies are ready my god I really feel we're prepared and we will continue to provide law enforcement services and and function as necessary wherever this might go Jenkins tells W. I. males Larry o'connor's office will be closed to the public to ensure the health of his depart and staff Maryland lawmakers are rushing through priority legislation so they can get out of Dodge or in this case Annapolis by tomorrow to bring this session to a quick end three weeks ahead of schedule the final votes needed to pass the state's forty eight billion dollar budget for the next fiscal year they plan to reconvene in a special session in may for any needed clean up work DC officials are calling on shoppers in the city to stop with the food hoarding already when we say we all have to do our part that's part of our part don't over buy on to make sure that there is supply for others who need it aerial Bowser says big parts of the district don't have enough supermarkets as it is and it only gets worse if there's nothing left by checking your money after yesterday's record three thousand point drop the Dow futures are now up to hundred ninety points the nasdaq up one hundred thirty one in sport is the new reality of covert nineteen prompted baseball to announce the opening days will be pushed back to mid may it bill earliest NFL free agency is open the Redskins say goodbye to case Keenum into Eric flowers former redskin cornerback Kendall fuller is coming back he has signed a four year deal after getting a Super Bowl ring with the chiefs WMAL news time seven oh four up next traffic and weather on WMAL breaking news Brett hand and wrist remains low inside stories five point nine W. M. A. L. I'm John Walton and I want to share with you an experience that I had recently Johns beyond C. chan is one of millions of Americans facing depression that was not getting better even with anti depressant medications I suffered with depression I saw her at her worst when she wasn't sleeping and the results of some deep depressions and you know as a significant other you don't really know what to do the engine heard about TMS therapy a green brook TMS TMS is a non invasive treatment for depression that has helped thousands of people have tried everything else even medication without success about two weeks then I felt a huge difference it was life changing for me I would ask how do you feel and the answers were getting progressively better and better over the course of the week two weeks four weeks this was a great answer for us back pain has been lifted that seems to be behind us now and that's a really good.

Nicole Kaeding national taxpayers union
"nicole kaeding" Discussed on WMAL 630AM

WMAL 630AM

01:47 min | 1 year ago

"nicole kaeding" Discussed on WMAL 630AM

"The WMAR seven forecast S. R. one seven on your side tracking some spotty showers this morning chance of some late day sunshine temperatures will push out of the forties into the low and mid sixties later today we've got a better chance of rain coming late Thursday into Friday morning and again Friday afternoon still holding on to that eighty day high temperature for Friday on ABC seven meteorologist Rhonda Johnson it is four one seven one percent right now it is forty four in Herndon forty three in Waldorf forty five at Reagan national I'm John Matthews on one oh five point nine FM Washington's mall WMAL Washington mornings state Saturday did they sound very I do I stock up after I tried it so many times I'm very lucky charms he don't I sure that you're on point and magically delicious joining us is seven oh five Nicole Kaeding she is with the national taxpayers union foundation ever talk to her about the administration's fiscal response to corona virus a lot of your tax money going to be cold right out the window here hopefully it will be well spent at seven thirty five Josh pressure is with us we've got some primaries happening today Arizona Florida and Illinois it it'll five Michael Foley author of a new book called drinking with your patrons.

Rhonda Johnson Herndon Reagan John Matthews Washington Nicole Kaeding Florida Illinois ABC national taxpayers union found Josh Arizona Michael Foley
"nicole kaeding" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

06:02 min | 1 year ago

"nicole kaeding" Discussed on Marketplace with Kai Ryssdal

"The economy is gonNA take a hit. Let's be honest about that. So we are starting to hear some stimulus talk. Let's call him baby. Stacks from American public media. This is marketplace in Los Angeles. I'M KAI result Tuesday. The tenth of March could as always have long everybody 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 be so to oil. We go now. The relative bounceback in crude prices from yesterday the American benchmark West Texas intermediate up more than ten percent today but a barrel is still well under forty bucks under thirty five actually at the close today in the average price of a gallon of gas in this country is less than two dollars and forty cents so in the crude market. A price war it is to be but of the major producers. That's us the Saudis and the Russians. Who Do you suppose his best position to win? marketplace's got tongue is on that one. Many analysts seem to think that drilling in Saudi Arabia is like sticking a metal straw in the ground and Bam. Oil May not be that simple but Saudi crude lives in big shallow pools in his super cheap. To extract. Here's Energy Fellow Samantha. Gross at the Brookings Institution. They don't have a lot of pumping. It's a fairly light oil and so it's also easy to recover. It costs less than ten bucks to produce a Saudi Barrow. Which means that. Today's prices in the thirties. They can win a price war right not so simple. Mideast scholar Karen Young at the American Enterprise Institute says the Saudi government has big-spending needs to modernize and if oil money is scarce projects will suffer new plans for infrastructure development in airports or new roads. This a new fund for Small and medium size enterprises by contrast Russia's economy depends less on oil money and Moscow has half a trillion dollars saved up so advantage Putin maybe mark cats Russia and Middle East scholar at George Mason University in the Atlantic Council says low prices will hurt their to. There's less money available to buy a weapons or whatever else Putin wants. He's got lots of bills to pay as well. There's an element of bravado in this and then there's US production which has the highest costs but in the last price where five years ago many American drillers survived in the Saudis and the Russians linked. So this time around. Who knows. I'm Scott Tong for marketplace. Hey you know what I just realized we are six minutes and thirty eight thirty nine now seconds into this radio program and you know what word you haven't heard yet stocks haven't heard Wall Street either details numbers you know. The drill.

president US White House Putin Russia Saudi Arabia Los Angeles Saudi Barrow Tax Policy Center Corona Sarah Sinclair Bowling Alleys George Washington University Tara Sinclair Brookings Institution professor of economics vice president Obama
How do you prevent a coronavirus recession?

Marketplace with Kai Ryssdal

03:03 min | 1 year ago

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

President Trump Sarah Sinclair White House Tax Policy Center Corona Bowling Alleys Vice President Tara Sinclair United States Professor Of Economics George Washington University National Taxpayer's Union Foun Barack Obama Nicole Congress Medicare
"nicole kaeding" Discussed on Marketplace with Kai Ryssdal

Marketplace with Kai Ryssdal

05:36 min | 1 year ago

"nicole kaeding" Discussed on Marketplace with Kai Ryssdal

"Coming up seventy percent of all commercialized. Bees in the United States are now being used to the pollen almonds almonds are keeping those very very busy but first let's do the numbers. Yeah here you go. The Wall was laws down. Four hundred fifty three points one and a half percent closed at twenty eight thousand five thirty-five the Nasdaq down one hundred seventy five points. One Point eight percent ninety one thirty nine. This would be five hundred gave away fifty one points about a percent and a half thirty two and forty three travel and transportation companies took a hit as you might imagine in Delta Airlines sank three point three percent United Airlines fell five point two percent Norwegian cruise lines down three percent today visits to the Chinese gambling center of mccower down and and so two other companies doing business there Las Vegas Sands slipped six point seven percent WYNN resorts declined eight percent today on the other side of the coin though clorox which of course makes disinfectants up one percent. Bond prices rose yield on the ten year Treasury note fell to one point five nine percents. You're listening to marketplace this is marketplace. I'm Kai Ryssdal. Wants more to the corona virus story. We go because it is a big story story. That is still growing stocks. We told you about oil has been getting whacked to the US benchmark West Texas intermediate down another two percent today near three month lows. Some of that is excelling to be sure. But as marketplace's Scott Tong reports there is some concern that the corona virus could mean. We are in for a longer term drop in flying and driving in manufacturing in one most critical of oil buying economies. Here's Scott China is the world's number two oil consumer behind the US so so as Beijing announced more restrictions on Air Rail and car transport SNP Global Platz put Chinese oil demand. What it calls negative? Watch cloudy Oh Gallon Birdie has demand analytics there. What's poking the market right? Now is the uncertainty. We don't know if this virus will be contained. These says has the potential to be a really game. Changer still this morning. As the international or Brent price of oil fell below sixty dollars a barrel. Saudi Arabia's Oil Minister Said said OPEC can cut supply if needed to stabilize prices. In other words keep calm says Christopher heins energy aspects in London when the price around sixty dollars. That's when I really started to step in. And they started kind of signalling you know they're monitoring the situation just to give them a bit of confidence so it doesn't fall out. The markets aren't all about confidence in psychology. And unless Michael Tran. RBC capital markets is consulting artificial intelligence. We used to GEO location data to essentially track human foot traffic inside airports and they found no drop off in airports outside China. So in other words Geoff Diehl demand destruction currently Chinese issue. It's not yet an international issue. A contain problem for now. The Chinese government has however band overseas group tours. Starting today I'm Scott Tong for marketplace apologies for being the bearer of bad tidings but today is the official first day of Tax Season The irs started accepting returns today and over the next couple of months. Tens of millions of people are going to be finding out whether they are going to be getting a check or writing one and that made us remember something we covered last time around last taxis and you might remember was the first one under the tax cuts and jobs. ACT The GOP's tax code overhaul of two thousand seventeen. After which a lot of people had been guessing tax refunds would drop significantly in the end though refunds fell only a little bit marketplace's Mariel Mariel Cigar. Looked into what happened. Here is the argument. The law gave most people a tax cut. But well I'm just GonNa let Twenty Nineteen Marielle. Take it from here. Yeah Yeah. Tax rates went down and when that happened the IRS told companies to withhold less in taxes from people's paychecks. So that tax cut. You're getting it now at the same time. The new tax law got rid of or limited a lot of deductions. You take a tax time. Thanks Marielle so the. Irs and accountants and news programs programs predicted that. If some people didn't change their withholding they'd end up owing the government money. This is what we saw happening early last year. Fifty seven year old Guy Harbach back who lives in Illinois and was used to getting a small refund of a couple of hundred bucks he owed nineteen hundred dollars last year. Taxes in Illinois are very very high so I lost forty five hundred dollars of deductions. By mid February. The average refund had fallen by seventeen percent. But then come tax day. It was only down by less than two percent. What's the deal? Nicole Kaeding at the National Taxpayer's Union Foundation says first of all the early early numbers. Were misleading a lot of people. Took awhile to file their taxes last year and the individuals as well that we're likely to see a refund we're small all business owners and they tend to file a bit later in the filing season. Also Sharon Kreider a CPA in California thinks. The final refund numbers are evidence. Events that people heeded the warnings and change their withholding. They were listening to the media reports and listening to what they're countless saying and she says you've got to keep in mind. An average is just that some individual tax payers like Guy Harbach fared much worse than the average Maryelle Zegarra for marketplace.

United States Scott Tong Guy Harbach irs Delta Airlines Mariel Mariel Cigar United Airlines Kai Ryssdal Las Vegas Sands WYNN resorts clorox RBC capital markets Christopher heins Geoff Diehl Saudi Arabia
"nicole kaeding" Discussed on Marketplace Morning Report with David Brancaccio

Marketplace Morning Report with David Brancaccio

03:52 min | 1 year ago

"nicole kaeding" Discussed on Marketplace Morning Report with David Brancaccio

"This marketplace podcast is brought to you by MD Anderson Cancer Center home to one of the nation's largest cancer clinical trial programs of its kind providing hope to patients through new approaches in detection action and advanced therapies more making cancer history dot com. This marketplace podcast is brought to you by capital one with the spark cashcard from capital one. You are an unlimited two percent cashback on all your business purchases think about it unlimited two percent cashback on everything you buy for your business and that cash back and add up to thousands of dollars. Would you can reinvest back into your business so you can keep growing learn more capital one dot com capital one. What's in your wallet a busy time for stock markets even if it might not seem like cricket in New York. I'm Tracey Samuelson in for David Brancaccio much like the duck that looks tranquil on the surface but is paddling furiously below the water stock markets markets have seemed calm in the last few days but delve deeper and there has been lots of activity here to explain is Susan Schmidt have US equities at Aviva investors. Hey Susan Good Morning Susan in the last few days. We might not have noticed big swings in market activity but you think below the surface. There's a a little more roth. They're more than a little. There's a lack going on below the surface so well. The top line number of the market has been relatively stable. The last couple of days. We've seen huge rotation within the market and institutional investors are really taking note of this because it's been so extreme companies that have done very well year to date eight in particularly surged in August are companies that are now losing shareholders declining in value and the companies that have struggled year to date and their share price those that have lagged. I behind are now doing very well and I think the market is focused on valuation. The valuation extremes between what you were willing to pay to be in these high. Quality companies knees versus the low prices of companies that maybe aren't quite as safe more cyclical but now represent great value. You're seeing investors. Stirs flow back into them so out of what kind of companies into so think of within technology software companies software companies were very popular coming into the year in throughout the year. It's an repetitive charge. It's that monthly charge for service is seen as a subscription business very profitable right now software companies. They're selling off and at the same time those companies attached to a semi caps in semiconductor chips. Those companies are surgery. Susan Smith with Aviva investors. Thanks so much. Thank you the taxes. The government collects on sales of alcohol don't make up for the cost of the harm it can cause things like violence car accidents or liver disease. That's according to New Research published in the Journal of Studies on Alcohol and drugs marketplace's. Marielle Garra has more say someone gets drunk and gets. That's into a bar fight. That can be costly. There might be hospital. Bills and insurance costs. Maybe property damage little also show up in costs for lawyers in in trial and incarceration Tim Namie as a doctor at Boston Medical Center and Boston University and Co author of this study. It found that alcohol taxes says only offset about ten percent of the total costs of excessive drinking and a quarter of the cost to the government. I think most people would assume that state governments are making making a lot of money off their alcohol taxes when in fact they're losing money but Nicole Kaeding at the National Taxpayer's Union Foundation which researches taxes and in government spending says it can be hard to measure the cost of excessive drinking when it comes to something like healthcare if someone has some sort of underlying medical condition is that because of the alcoholism gaullism in spite of the alcohol the study relied on CDC estimates that the costs of excessive drinking added up to two hundred fifty billion dollars in two thousand ten. I'm Mariel Sierra for marketplace.

Aviva Anderson Cancer Center Susan Schmidt Susan Good Susan Smith Boston Medical Center Mariel Sierra liver disease Marielle Garra New York Tracey Samuelson Boston University David Brancaccio Nicole Kaeding Tim Namie Journal of Studies on Alcohol CDC
"nicole kaeding" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:26 min | 2 years ago

"nicole kaeding" Discussed on WNYC 93.9 FM

"We could see some showers and thunderstorms mainly later on this morning after eleven o'clock, otherwise mostly cloudy with a high near sixty five degrees. It's morning edition from NPR news. I'm David green. And I'm Rachel Martin. Those of you who don't have to buy tampons may not know that in many states, you pay a sales tax on menstrual products. Several states though, have either eliminated that tax or are considering doing so Stacey Vanik Smith and Constanza Hyodo from planet. Money's the indicator had been adding up the cost of the so-called tampon tax sales tax most people in this country, pay sales tax on most of the things they buy it's a big source of state revenue some items like food or water that are seen as necessary to survival are not subject to this tax prescription and nonprescription drugs are also accept medicines. Like, aspirin dayquil or biogra- also medical equipment and supplies which can be things like chapstick Goss, but tampons pads cups and all of the menstrual hygiene products, do not fall into the medical supply category in many states and a lot of people argue that's not fair. So he salesman is one of the lawyers that filed a lawsuit in new. New York to eliminate the sales tax on Mensur products back in two thousand sixteen salesman. And her team argued these products are medical supply, and they should be tax exempt, and one example, the department of tax gave was things like bandages, gauze and dressings. And so those are items that are used to staunch the flow of blood from the human body and tampons and pads as well as cops and panty liners. Those are used to staunch the flow of blood from the uterus. So again, clearly these items have to fit within that definition Zoe made her case and the New York legislature took notice and in fact, passed a Bill back in two thousand sixteen to exempt feminine products in New York from sales tax. So that extra cost here. New York, we do not pay it anymore. Yeah. But many other women in other states do pay and overtime that cost adds up. And a study published this year by the American college of obstetricians and gynecologists found that two out of three low income. Women in the US couldn't afford MetroPCS at least once a year and nearly half of them struggled to buy both food and mental hygiene products over the last year. In fact, there's economic research that the tax break on tampons really benefits low income people that's based on consumer data after New Jersey's tampon tax was repealed back in two thousand and five research showed that by eliminating the tax in meat products cheaper and more accessible to lower income women. But some people say the Tampax needs to stay, but when you start moving into this world of exemptions you start adding complexity because you have to define what is and is not a qualified good under the exemption. Nicole kaeding with the tax foundation, a think tank that studies tax policy she says sales tax exemptions can be problematic because they can mean that states don't have enough money to fund public policies or programs. And as a result states may have to increase other types of taxes to get that funding back bagging twenty six. California governor Jerry Brown. Vetoed. A Bill that plan to eliminate the state's tampon tax. He argued that by not taxing measure products, California could lose up to twenty million dollars in annual taxes. And the governor has a point here in New York where we eliminated the tax on minstrel products. We're losing about fourteen million dollars a year in Las tax revenue. Of course, this isn't just an economic issue. It's a political issue to last year, for example, Nevada voted to make menstrual products tax exempt and this year, Michigan, Georgia, Ohio and California are pushing for legislation to repeal the tampon tax. Stacey Vanek Smith NPR news..

New York NPR salesman Rachel Martin California Jerry Brown New York legislature Stacey Vanek Smith Stacey Vanik Smith David green New Jersey aspirin US Las Money MetroPCS Goss
"nicole kaeding" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

03:52 min | 2 years ago

"nicole kaeding" Discussed on The Indicator from Planet Money

"So all of that compounds to really make really direct impact on their budget and women in the US have a higher poverty rate than men, but according to the census bureau and eleven percent of single mother households live in poverty as well. Zoe Saltzman says eliminating the sales tax on Tamil and other minstrel products can actually really help these women. In fact there. Economic research that the tax break on tap owns really benefits, low income people that's based on consumer data after New Jersey's tampon tax was repealed back in two thousand and five research showed that by eliminating the tax in made products cheaper and more accessible to lower income women, but some people say the tampon tax needs to stay. But in general, I think that the sales tax is really one of the best ways for a state to raise revenue this Nicole kaeding, the vice president of federal projects at the tax foundation think tank that studies tax policy. She says picking and choosing products to be taxed or not tax is problematic for a lot of reasons. First of all, it can mean less money for states. They won't have enough money to fund public policies or the programs. They want to fund, and it can also mean that states have to increase other types of taxes to get that funding back. So if the sales tax applies to fewer products, the sales tax on the products that are left goes up, Nicole things an easy way to fix this issue is by having a sales tax on everything. No exemptions. Which by the way that can lower the overall tax rate for every product including tampons. So when you start moving into these this world of exemptions you start adding complexity because you have to define what is an is not a qualified good under the exemption. You know, in my view, a state would be much better off to have a broad sales tax that applies to all final consumption you avoid these sorts of, you know, picking between different product classes, it would make for a much more efficient sales tax back into sixteen California governor Jerry Brown beat ODA Bill that plan to eliminate the state's tampon tax. He argued that by not taxing Michelle products, California could lose up to twenty million dollars in annual taxes. And the governor has a point here in New York where we eliminated attacks tax on minstrel products. We're losing about fourteen million dollars a year in Las tax revenue. Of course, this isn't. Just an economic issue. It's a political issue too. And it is one that seems to be getting a lot of traction last year, for example, Nevada voted to make minstrel products tax exempt, Nicole also expects more states to push for legislation impasse bills. That would repeal the tampons access here. Like, Michigan, Georgia and Ohio. And of course, California is looking at the issue yet again Andres is coming to town. You better watch for today's. He is the worst. It'll get there will be blood. And if you wanna look at what states do tax tampons or not you can go to our website at NPR that org slash money or Instagram at plenty money. And of course, our Twitter at the indicator. Today's episode of the indicator was produced by you Constanza guy. Ardo our editor is fatty hers. Our internet fact checker is will Rueben and the indicator is a production of NPR. This season on invisible. You should we empathize with our enemies from Oregon in guy is it, okay? To have machines control, our emotions, I should become creeped out. But at the same time lake will thank God. I live in this day and age, no, easy answers. Just the right questions invisible. You back on March eighth?

Nicole kaeding California US Zoe Saltzman New Jersey Andres NPR Jerry Brown New York Twitter Las Michelle vice president Instagram editor ODA Rueben
"nicole kaeding" Discussed on KCRW

KCRW

03:36 min | 2 years ago

"nicole kaeding" Discussed on KCRW

"What is really happening with our taxes? The IRS has the average tax refunds so far. This year has been eight percent smaller than last year. And that is prompting outrage since President Trump's signature achievement was supposed to be a big tax cut. Well, it turns out your taxes may well be lower than they were in the past NPR's Danielle Chesler reports your taxes just don't seem lower right now. Because of the way the administration gave you the break in two thousand seventeen President Trump promised that his tax overhaul would benefit most Americans, and they would see the effects right away. Come February when they opened their Jackson. They see. Wow. What happened to have a lot more money in here? I think that's really going to be something very special that did happen. People saw more money in their checks last year. That's because the government reduced the amount of taxes taken out of each paycheck also known as withholding. But now something else has happened as tax refunds are starting to come back from the IRA. S they're smaller on average one hundred seventy dollars. Smaller and fewer people are getting them that is causing pain taxpayers have been airing their grievances on social media with hashtag GOP tax scam and hashtag GOP tax scam stories, Richard Thaler and Nobel prize winning behavioral economist says the Trump administration changed the withholding on purpose. I can only assume that it was done in an effort to show people money as soon as possible, and the misjudgement I think was in thinking that people would notice such a small difference paycheck by paycheck. Taylor says people don't notice an increase of ten or thirty dollars. But when they don't get a hefty refund. They're expecting and maybe even planning around. It's a big deal for many people the day. They get their tax refund is the one day of the year that they're actually financially solvent. Nicole kaeding director of. Federal projects at the tax foundation. Think tank says eighty percent of filers got a tax cut from the overhaul. Don't judge your taxes by your refund? That's only one part of the conversation at the same time kidding says five percent of filer saw their taxes. Go up. Most of those people are high earners who live in states with steep state and local taxes. However, some increase taxes have hit people of limited means like, Victoria, Pearl. Right. And her husband in Houston, Texas. I did my taxes and saw that we weren't getting a refund. I was so emotionally floor. I had nothing, but like shock goatee my body last year, they got a refund of more than five thousand dollars right is nine months pregnant, she had planned to use their refund this year to cover expenses while she takes unpaid maternity leave from her job at a cafe she thinks their taxes spiraled because they couldn't deduct business expenses, and they earn. Slightly too much to get a tax credit for low income earners. Now, she's asked friends to donate to maternity fund. She set up on pay pal. My husband's help we're gonna have to like pick up last. Additionally, we don't really know what we're going to do tax experts say if you think your tax Bill will be more than you can pay. You should still file your return on time pay what you can and see if you can arrange an installment plan with the IRS and Taylor. The economist has some advice for the government had asked my opinion. I would have told them don't touch the withholding tables rather give people the same tax refunds..

President Trump IRS Taylor GOP Danielle Chesler NPR President Richard Thaler IRA Nicole kaeding Jackson Nobel prize Houston Texas Victoria director one hundred seventy dollars five thousand dollars
"nicole kaeding" Discussed on KQED Radio

KQED Radio

03:33 min | 2 years ago

"nicole kaeding" Discussed on KQED Radio

"Service. Live telephone assistance is not available at this time. Normally we are just about to start the first filing season since the new tax law went into effect as I'm sure, you know, we're also doing it as you just heard with the IRS running a barebones staff, even before the shutdown though, the looming tax deadline was a scary prospect for a lot of companies in this economy because unknown unknowns there's a whole lot of confusion over what some parts of the law are gonna mean for businesses case in point twenty percent tax deduction. Marketplace's Marielle cigar is on the tax beat. There's a nursing home in North Carolina called Smithfield manner and its owner Carroll Arn has this problem. It's getting harder and harder to hold on. Onto our employees, specifically nursing assistance. They're in high demand right now, and they have a tough job dealing with the dying process and the aging process can take its toll on you Aren wants to start her attention program handout bonuses. But you need to pay for it. She heard that under the new tax law. She might be eligible for this big tax break her accountant, Jeremy bass says it can save about seven and a half cent of tax for every dollar that you make problem is they don't know whether or not her business qualifies, the new tax law cut taxes for corporations from thirty five to twenty one percent, but that didn't apply to certain kinds of businesses like LLC's S corporations, they're called pass throughs, and they pay taxes based on their owner's personal income not the corporate tax rate. So congress came up with a tax break for them to they can deduct up to twenty percent off their income when they do their taxes, but that wasn't the end of it because. Some tax experts said this new deduction could easily be abused. Let's walk through a hypothetical. Nicole kaeding is an economist at the tax foundation. A think tank in DC, I have an incentive because of this provision to walk into my boss's office and to say, I'm sorry, but I no longer can work here with the tax foundation. Then she could form a new LLC that would do the same work for the tax foundation and call itself a business to get the deduction last summer, the IRS came up with some rules to keep people from gaming the system, they are more than one hundred and eighty pages long, and they're filled with caveats like a list of businesses and industries that do not qualify for the tax break. Here's Jeremy bass, the nursing homes accountant again is accountants attorneys actuaries performing arts consultant, stockbrokers athletes. Oh and healthcare businesses. The IRS tried to draw. Clear lines between who gets the deduction, and who doesn't, but there are still a lot of questions is a nursing home like Smithfield manner, considered a health business. It does have nurses on staff, but they're also providing room and board dietary services activities, so there's sort of a grey area there the government is still finalizing its guidelines on this deduction. But it's not clear when those are coming especially with the shutdown. In the meantime, accountants have decisions to make Andrea Parnasse is a CPA in New York. She says this deduction has been Tribune up accountants since the law passed she organized and training sessions for her peers they were all freaking out like oh my God. How are we ever going to explain this to our clients and how we ever gonna put this into practice? Parnasse says she's doing the best she can for her clients, like.

accountant IRS Andrea Parnasse Jeremy bass Smithfield Marielle North Carolina Nicole kaeding Carroll Arn New York congress twenty percent twenty one percent
"nicole kaeding" Discussed on 90.3 KAZU

90.3 KAZU

03:45 min | 2 years ago

"nicole kaeding" Discussed on 90.3 KAZU

"If I could raise the specter of Donald Rumsfeld once again on this program, and the whole idea of unknown. Unknowns here is what happens nowadays when you call the Internal Revenue Service. Welcome to the Internal Revenue Service live telephone is is not available at this time normal. We are just about to start the first filing season since the new tax law went into effect as I'm sure, you know, we're also doing it as you just heard with the IRS running a barebones staff, even before the shutdown though, the looming tax deadline was a scary prospect for a lot of companies in this economy because unknown unknowns there's a whole lot of confusion over what some parts of the law are gonna mean for businesses case in point a new twenty percent tax deduction. Marketplace's Mariel cigar is on the tax beat. There's a nursing home in North Carolina called Smithfield manner and its owner Carroll Arn has this problem. It's getting harder and harder to hold on. Onto our employees, specifically nursing assistance. They're in high demand right now, and they have a tough job dealing with the dying process and the aging process can take its toll on you Aren wants to start her attention program handout bonuses. But you need to pay for it. She heard that under the new tax law. She might be eligible for this big tax break her accountant, Jeremy bass says it can save about seven and a half cent of tax for every dollar that you make problem is they don't know whether or not her business qualifies the new tax law cut taxes for corporations from thirty five to twenty one percent. But that didn't apply to certain kinds of businesses like LLC's and ask corporations they're called pass throughs, and they pay taxes based on their owner's personal income not the corporate tax rate. So congress came up with a tax break for them to they can deduct up to twenty percent off their income when they do their taxes, but that wasn't the end of it because. Some tax experts said this new deduction could easily be abused. Let's walk through a hypothetical. Nicole kaeding is an economist at the tax foundation. A think tank in DC, I have an incentive because of this provision to walk into my boss's office and to say, I'm sorry, but I no longer can work here with the tax foundation. Then she could form a new LLC that would do the same work for the tax foundation and call itself a business to get the deduction last summer, the IRS came up with some roles to keep people from gaming the system, they are more than one hundred eighty pages long, and they're filled with caveats like a list of businesses and industries that do not qualify for the tax break. Here's Jeremy bass, the nursing homes accountant again, these accountants attorneys actuaries performing arts consultant, stockbrokers, athletes, oh and healthcare businesses. The IRS tried to draw. Clear lines between who gets the deduction, and who doesn't, but there are still a lot of questions is a nursing home like Smithfield manner, considered a health business. It does have nurses on staff, but they're also providing room and board dietary services activities, so there's sort of a gray area there. The government is still finalizing its guidelines on this deduction. But it's not clear when those are coming especially with the shutdown. In the meantime, accountants have decisions to make Andrea Parnasse is a CPA in New York. She says this deduction has been tripping up accountant since the law passed she organized and training sessions for her peers they were all freaking out like oh my God. How are we ever going to explain this to our clients? And how are we ever going to put this into practice? Parnasse says she's doing the best she can for her clients,.

Internal Revenue Service accountant Andrea Parnasse Jeremy bass Smithfield Donald Rumsfeld Mariel cigar North Carolina Nicole kaeding Carroll Arn congress New York consultant twenty percent twenty one percent
"nicole kaeding" Discussed on KCRW

KCRW

04:16 min | 2 years ago

"nicole kaeding" Discussed on KCRW

"Officer at the US chamber of commerce. You'll thanks for your time. I appreciate thanks got If I could raise the specter of Donald Rumsfeld once again on this program, and the whole idea of unknown. Unknowns here is what happens nowadays when you call the Internal Revenue Service. Welcome to the Internal Revenue Service live telephone is not available at this time. Normally we are just about to start the first filing season since the new tax law went into effect, as I'm sure, you know, we're also doing it as you just heard with the IRS running a bones staff, even before the shutdown though, the looming tax deadline was a scary prospect for a lot of companies in this economy because unknown unknowns there's a whole lot of confusion over what some parts of the law are gonna mean for businesses case in point twenty percent tax deduction. Marketplace's Mariel cigar is on the tax beat. There's a nursing home in North Carolina called Smithfield manner. And it's owner Carroll Arn has this problem. It's getting harder and harder to hold onto our employees. Specifically nursing assistance. They're in high demand right now, and they have a tough job dealing with the dying process and the aging process can take its toll on you aren't wants to start her attention program handout bonuses. But you need to pay for it. She heard that under the new tax law. She might be eligible for this big tax break her accountant, Jeremy bass says it could save about seven and a half cent of tax for every dollar that you make problem is they don't know whether or not her business qualifies the new tax law cut taxes for corporations from thirty five to twenty one percent. But that didn't apply to certain kinds of businesses like LLC's and ask corporations they're called pastors, and they pay taxes based on their owner's personal income not the corporate tax rate. So congress came up with a tax break for them to they can deduct up to twenty percent off their income when they do their taxes, but that wasn't the end of it because some tax. Experts said this new deduction could easily be abused. Let's walk through a hypothetical. Nicole kaeding is an economist at the tax station, a think tank in DC, I have an incentive because of this provision to walk into my boss's office and to say, I'm sorry, but I no longer can work with the tax foundation. Then she could form a new LLC that would do the same work for the tax foundation and call itself a business to get the deduction last summer, the IRS came up with some rules to keep people from gaming the system, they are more than one hundred eighty pages long, and they're filled with caveats like a list of businesses and industries that do not qualify for the tax break. Here's Jeremy bass, the nursing homes accountant again is a countless attorneys actuaries performing arts consult, stockbrokers athletes. Oh and healthcare businesses. The IRS tried to draw clear lines. Lines between who gets the deduction, and who doesn't, but there are still a lot of questions is a nursing home like Smithfield manner, considered a health business. It does have nurses on staff, but they're also providing room and board dietary services activities, so there's sort of a grey area there the government is still finalizing its guidelines on this deduction. But it's not clear when those are coming especially with the shutdown. In the meantime, accountants have decisions to make Andrea Parnasse is a CPA in New York. She says this deduction has been Tribune up accountants since the law passed she organized some training sessions for her peers they were all freaking out like oh my God. How are we ever going to explain this to our clients and how we ever gonna put this into practice? Parnasse says she's doing the best she can for her clients, like.

Internal Revenue Service accountant Andrea Parnasse Mariel cigar Jeremy bass Smithfield Donald Rumsfeld US chamber of commerce Officer North Carolina Carroll Arn Nicole kaeding New York congress twenty percent twenty one percent
"nicole kaeding" Discussed on KQED Radio

KQED Radio

02:14 min | 2 years ago

"nicole kaeding" Discussed on KQED Radio

"The Trump administration is now promising the Internal Revenue Service will keep sending out tax refunds, my colleague, Scott Tong is following this reversal in policy. The administration has told I r s workers who process refunds go back to work. But so long as the government is shut down. They won't get paid. It's reasoning. To reduce the pain of shutdown on regular Americans in the past. The Obama White House told the IRS it could not do this. Nicole kaeding is with the tax foundation think tank. She says the government's authority to do this is a legal gray area. And even the treasury department itself yesterday changed its mind in the morning yesterday. President department said they were investigating this. It was unclear as in very quickly. The White House said that they would be processing refunds and bringing back the furloughed employees some analysts say this is not allowed unless congress. Okay. A he's spending Bill critics say the White House. Justification is thin on the details, and they suspect the real reason is to juice the economy with tax refunds and take the credit. This is hundreds of billions in stimulus and keep in mind. This is the first filing period to follow the Trump tax cuts. I'm Scott Tong for marketplace. Carlos gone until recently, the chairman of Nissan Motors of Japan and the currency over. No of France got his first. Moment in court today. He said he's innocent, and he's been quote, wrongly accused and unfairly detained based on merit less than unsubstantiated accusations guns been in detention for fifty days so far amid allegations he understated his compensation. A judge today. Refused to grant bail defenders a boardroom power struggle at play here, but Japanese prosecutors see a major breach of trust. There's word the mid level from mid level US in China trade negotiators that they've extended their talks in Beijing to a bonus extra day tomorrow. The two sides aren't saying much other than the talks are quote going well trade sensitive stocks such as Caterpillar and Boeing are driving some of the indicators higher this morning, although some of the bigger gains from the start of the day of knob pared back on the stock market. The Dow is up one hundred thirty four point six tenths percent, the S and P five hundred up three tenths percent. Nasdaq composite index up one tenth of one percent one.

White House Scott Tong Internal Revenue Service Nicole kaeding Carlos treasury department Obama Beijing Nissan Motors Caterpillar France President US Bill congress chairman Boeing
"nicole kaeding" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

01:44 min | 2 years ago

"nicole kaeding" Discussed on WNYC 93.9 FM

"The Trump administration is now promising the Internal Revenue Service will still keep setting out tax refunds, my colleague, Scott Tong is following this reversal in policy. The administration has told IRS workers who process refunds go back to work. But so long as the government is shut down. They won't get paid. It's reasoning. To reduce the pain of shutdown on regular Americans in the past. The Obama White House told the IRS it could not do this. Nicole kaeding is with a tax foundation think-tank. She says the government's authority to do this is a legal gray area. And even the treasury department itself yesterday changed its mind in the morning yesterday. President said they were investigating this. It was unclear as in very quickly. The White House said that they would be processing refunds and bringing back the furloughed employees some analysts say this is not allowed unless congress. Okay. A key spending Bill critics say the White House justification is thin on the details, and they suspect the real reason is to juice the economy with tax refunds and take the credit. This is hundreds of billions in stimulus and keep in mind. This is the first filing period to follow the Trump tax cuts. I'm Scott Tong for marketplace. Carlos going until recently, the chairman of Nissan Motors of Japan and currency over. No of France got his first moment in court today. He says he's innocent and has been quote, wrongly accused unfairly detained based on meritless and unsubstantiated accusations going has been in detention for fifty days so far mid allegations. He understated his compensation. A judge refused to grant bail defenders. See a boardroom power struggle at play here, but Japanese prosecutors see a major breach of trust. Let's do the numbers..

Scott Tong White House Internal Revenue Service Nicole kaeding treasury department Obama Nissan Motors Carlos President Bill congress France chairman Japan fifty days
"nicole kaeding" Discussed on KQED Radio

KQED Radio

04:35 min | 2 years ago

"nicole kaeding" Discussed on KQED Radio

"Today. Good as always to have you along everybody we begin on this Tuesday with the current state of the national Bank balance overdrawn one might say from the treasury department, the latest figures go like this the federal deficit that is the gap between what the government brings in and what it spends every year grew seventeen percent in the two thousand eighteen fiscal year. That is the one that ended just a couple of weeks ago that is an annual let me say that again annual shortfall of three quarters of a trillion dollar seven hundred seventy nine billion for those of you keeping score at home. Couple of things are going on here. The Trump tax cuts for starters, also increased military spendings. Well, now what to do about it this morning? Senate majority leader Mitch McConnell called the deficit, quote, very disturbing and then pinned the blame on Medicare, Medicaid and social security. So we asked marketplace's Tracey Samuelson to look into how much government debt is too much for the American economy like many questions in economics. The answer is there's no quick and easy answer. Kenneth Rogoff is an econ professor at Harvard. It's clear that the US can bear a lot more depth than it has at today's low interest rates, even with bigger deficits, even with tax cuts that will add over a trillion dollars to the debt in the next ten years. We're not approaching that's scary. Too much debt. Level says Stephanie Kelton a professor of economics and public policy at Stony Brook university. As some people would say, you know, the the red lights are flashing, and we're all sticking our heads in the sand and ignoring the clear and present danger. I don't see a clear and present danger. Says the US like Japan will always be able to pay its debts since it controls its own currency. You can just create more money to pay its bills, but do that too much any risk higher inflation and Kelton says it matters what the government is using its borrowed money to do. In other words, will the spending make the future economy more productive or not that's looking at debt through an economic lens through a political ends the debt may already be too. Big the likely scenario is there will be pressure to cut spending. Elsewhere, Robert Pullen is director of the political economy research institute at UMass Amherst, if the Trump administration is committed to continuing to increase military spending, the only place where you can get a substantial amount of savings out of the rest of the budget is in healthcare in other words, Medicaid and Medicare which Senator McConnell mentioned this morning, though, he did say their popularity makes them tough to cut. I'm Tracey Samuelson. For marketplace. Some of the winners from those Trump tax cuts are starting to show up in earnings reports. Banks I among them J P Morgan Chase Bank of America. Goldman sachs. The list goes on have all done. Well, this earnings season, plenty of companies are of course, benefiting from the change tax code. But as marketplace's Eric embarrassed reporting w ESA in Pittsburgh, the banks are a special case before the tax Bill. The corporate tax rate was thirty five percent. Now, it's twenty one percent and for banks and other financial institutions. That's doing one thing boosting earnings. That's Nicole kaeding director of federal projects at the tax foundation. She says while the corporate income tax with thirty five percent most companies found so many loopholes. They weren't actually paying close to that. But for more tightly regulated banks the tax cut was really real. So that boost less a temporary provisions in the tax law allowing businesses to deduct capital expenses now and not over the years as depreciate means prophets. Plus the feds. Just raise interest rates again. It's pretty much win win win for banks says Avandia superman supermom by man's professor at UCLA because of the tax reform, and because of the rising interest rates and generally, the communist doing, okay. So all of these things are lining up in favor of persistent, positive impact on profits. But that tax cut is a one time windfall for the banks going forward. They'll have to sustain the momentum. When there's no tax cut and next year is corporate tax rate will be twenty one percent just like this year. And that could be more challenging Mark mazer is an economist at the tax policy center. And so if they want to see an increase in their experts that actually have to have an increase in their earnings from operations, which could happen. If you've got one eye on interest rates, you can see them inching up. I'm Eric embarrassed for marketplace on Wall Street today. Well, you remember last week when Marielle Zegarra told me her sources were telling her it was just a bad couple of days, and then once corporate profits started rolling in Wall Street would bounce. Right back. Well, did it ever? We'll have the details. When we do the numbers..

Tracey Samuelson Senator McConnell Stephanie Kelton US Medicare professor Eric director Senate Kenneth Rogoff Goldman sachs national Bank Marielle Zegarra treasury department
"nicole kaeding" Discussed on KQED Radio

KQED Radio

04:55 min | 2 years ago

"nicole kaeding" Discussed on KQED Radio

"In Los Angeles. I'm KAI Ryssdal. It is Wednesday today the nineteenth of September. Good. As always to have you along everybody. We take a page from the department of commerce as our starting point today the page and a report out this morning that says American companies repatriated just shy of one hundred and seventy billion dollars in the second quarter that is money held overseas. Lord back into this country by the sharply lower tax rates on repatriated profits in the GOP tax Bill of late last year. And it is coming back that money a lot of it, which is nowhere near the amounts promised. Marketplace's Sabrina short has gone. The president said in August, he expected more than four trillion dollars in overseas corporate profits to come flowing into the US very soon four trillion, and that's that's completely unrealistic Michaela tomorrow is associate professor of accounting at Suffolk university. A more reality based number or team for might be closer to two and a half trillion. According to the tax foundation still so far in the first half of the year. The Commerce Department says about twenty percent of that or. Four hundred and sixty five billion has come into the US who's your very large numbers, and they represented a significant fraction of what? Profits overseas have been Mahir Desai is a professor at Harvard Law School. He says the money could be coming back a little faster though, very easily written. So there has been a great deal of confusion over the way these things actually work and the regulations haven't even been finalized. But also all that money. Those trillions that US companies have earned abroad. It's not all sitting in vault somewhere was in plants in equipment. It's not actually seen the companies can move back. Nicole kaeding is with the tax bound Asian companies bought other companies overseas they made investments there. Secondly, US companies aren't just thinking about taxes when they keep money. Overseas. Says suffix Michaela Moro they're also considering things like what's my supply chain, where's my customer? What's my labor costs in another country and companies bringing money to the US will need a reason for doing? So maybe an investment or a strategy to. To use the money here in those may take time to find in New York. I'm Sabrina sure for marketplace today in tariff land, we are at t minus five because come Monday almost six thousand line items will be added to the list of Chinese imports on which the White House says imposed import taxes the likely mean higher prices for leather handbags and fruit, juice, and rain jackets. Like, I said six thousand new items and inevitably analyst that big. There are going to be some surprises surprises for American consumers. Yes, also surprises though for the people running American factories because in the world in which we live of super complex global supply chains manufacturers don't always know what's in their own products. Marketplace has that one from Washington the dirty little secret is that lots of factories. Don't know their own supply chains has willy. She at Harvard Business School global carmakers learned the hard way seven years ago. He says a deadly to NAMI knocked out Japanese factories, including one that every brand depended on. There was this material that goes in. Into automotive paint that makes black and red sparkley. Okay. And there was the sole source factory there when that went out and all of a sudden, you can make your car black anymore. Here's the problem, you might know, her supplier and her suppliers supplier. But beyond that, she says probably not there's the same invisibility with China and tariffs companies with complicated supply chains don't know, exactly. What's from China? And maybe surprise when the prices of those things go up Rosemary Coates is a customs broker, and she's executive director of the reassuring institute component parts of the product are Chinese, for example, what component parts might be Korean or Taiwanese or Malaysian. You know, it's really hard to know that so they're gonna get stuck unknowing and the unknowing will turn up in sectors. That surprise people says Willie she pharmaceutical firm source key compounds from China, and there's vitamins packaged food people. Don't realize how many components. It's our food products. Come from China, we export fish caught in the North Atlantic to China for processing event it comes back. The supply chain surprises won't just hit the manufacturers in most cases, they'll pass along the tariffs sticker shock to you. And me in Washington, I'm Scott Tong for marketplace. On Wall Street today once again, it's like the trade wars, not even a happening at the corner, Wall Street and broad. We'll have the details when we do the numbers. Much time has.

US China Commerce Department Michaela Moro Mahir Desai KAI Ryssdal Los Angeles Sabrina short Harvard Business School Harvard Law School Washington Nicole kaeding Suffolk university GOP associate professor of account New York
"nicole kaeding" Discussed on KQED Radio

KQED Radio

04:55 min | 2 years ago

"nicole kaeding" Discussed on KQED Radio

"In Los Angeles. I'm KAI Ryssdal. It is Wednesday today the nineteenth of September. Good. As always to have long everybody. We take a page from the department of commerce as our starting point today the page and a report out this morning that says American companies repatriated just shy of one hundred and seventy billion dollars in the second quarter that is money held overseas. Lord back into this country by the sharply lower tax rates on repatriated profits in the GOP tax Bill of late last year. And it is coming back that money a lot of it, which is nowhere near the amounts promised. Marketplace's Sabrina short gets is going. The president said in August. He expected more than four trillion dollars in overseas corporate profits to come flowing into the US, very soon four trillion, and that's that's completely unrealistic. Maekelae Moro is associate professor of accounting at Suffolk university. A more reality based number team for might be closer to two and a half trillion. According to the tax foundation still so far in the first half of the year. The Commerce Department says about twenty percent of that. For four hundred and sixty five billion has come into the US, very large numbers, and they represent a significant fraction of what? Profits overseas have been Mihir Desai is a professor at Harvard Law School. He says the money could be coming back a little faster, though, the law was very easily written. So there has been a creature confusion over the way these things actually work and the regulations haven't even been finalized. But also all that money. Those trillions that US companies have earned abroad. It's not all sitting in vault somewhere. Was in plants and equipment is not actually seen the companies can move back. Nicole kaeding is with the tax foundation companies other companies overseas they made investments there. Secondly, US companies aren't just thinking about taxes when they keep money. Overseas says suffolks Maekelae Moro they're also considering things like what's my supply chain, where's my customer? What's my labor cost in another country and companies bringing money to the US will need a reason for doing? So maybe an investment or a strategy to use the money here in those may take time to find in New York. I'm Sabrina sure for marketplace today in tariff land, we are at t minus five because come Monday almost six thousand line items will be added to the list of Chinese imports on which the White House says imposed import taxes now likely mean higher prices for leather handbags and fruit, juice, and rain jackets. Like, I said six thousand new items and inevitably analyst that big. There are going to be some surprises surprises for American consumers. Yes. Also surprises though for the people running American factories because in the world in which we live of super complex global supply chains manufacturers don't always know what's in their own products. Marketplace's Scott Tong has that one from Washington. The dirty little secret is that lots of factories. Don't know their own supply chains has willy. She at Harvard Business School global carmakers learned the hard way seven years ago. He says a deadly to NAMI knocked out Japanese factories, including one that every brand depended on. There was this material that goes into automotive paint that makes black and red sparkley. Okay. And there was a sole source factory there when that went out, then all of a sudden, you can get your car black anymore. Here's the problem is CEO might know, her supplier and her suppliers supplier. But beyond that, she says probably not there's the same invisibility with China and tariffs companies with complicated supply chains don't know, exactly. What's from China? And maybe surprise when the prices of those things go up Rosemary Coates is a customs broker Angie's executive director of the re shoring institute what component parts of the product are trainees. For example, what component parts might be Korean or Taiwanese or? Malaysian, you know, it's really hard to know that so they're gonna get stuck unknowing in the unknowing. We'll turn up in sectors that surprise people says Willie she pharmaceutical firms source key compounds from China, then there's vitamins packaged food people. Don't realize how many components or food products come from China. We export fish caught in the North Atlantic to China for processing, then it comes back. The supply chain surprises won't just hit the manufacturers in most cases, they'll pass along the tariffs sticker shock to you. And me in Washington, I'm Scott Tong for marketplace. On Wall Street today once again, it's like the trade wars, not even a happening at the corner, Wall Street and broad. We'll have the details when we do the numbers. Much time has been spent.

US Scott Tong China Commerce Department Maekelae Moro KAI Ryssdal Los Angeles Sabrina short Mihir Desai Harvard Business School Harvard Law School Washington Nicole kaeding Suffolk university president associate professor of account North Atlantic GOP
"nicole kaeding" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

04:22 min | 2 years ago

"nicole kaeding" Discussed on WNYC 93.9 FM

"Long everybody. We take a page from the department of commerce as our starting point today the page in a report out this morning that says American companies repatriated just shy of one hundred and seventy billion dollars in the second quarter that is money held overseas. Lured back into this country by the sharply lower tax rates on repatriated profits in the GOP tax Bill of late last year. And it is coming back that money a lot of it, which is nowhere near the amounts promised. Marketplace's revenge short it's going the president said in August, he expected more than four trillion dollars in overseas corporate profits to come flowing into the US very soon. Four trillion. That's completely unrealistic Michaela tomorrow is associate professor of accounting at Suffolk university. A more reality based number team for might be closer to two and a half trillion. According to the tax foundation still so far in the first half of the year. The Commerce Department says about twenty percent of that for four hundred and sixty five billion has come into the US, you very large numbers and the Representative significant fraction of what profits overseas have been Mihir Desai is a professor at Harvard Law School. He says the money could be coming back a little faster, though law was very hastily written. So there has been confusion over the way these things actually work and the regulations haven't even been finalized. But also all that money. Those trillions that US companies have earned abroad. It's not all sitting in vault somewhere a lot of it was in plants in it's not actually seen the companies can move back. Nicole kaeding is with the tax foundation companies bought other companies overseas they made investments there. Secondly, US companies. Aren't just thinking about taxes when they keep money. Overseas. Says suffix Michaela Moro they're also considering things like what's my supply chain, where's my customer? What's my labor costs in another country and companies bringing money to the US will need a reason for doing? So maybe an investment or a strategy to use the money here. And those may take time to find in New York, I'm Sabrina sure for marketplace today in tariff land, we are at t minus five because come Monday almost six thousand line items will be added to the list of Chinese imports on which the White House says imposed import taxes the likely mean higher prices for leather handbags and fruit, juice, and rain jackets. Like, I said six thousand new items and inevitably analyst that big. There are going to be some surprises surprises for American consumers. Yes, also surprises though for the people running American factories because in the world in which we live of super complex global supply chains manufacturers don't always know what's in their own products. Marketplace's Scott Tong has that one from Washington. The dirty little secret is that lots of factories. Don't know their own supply chains has willy. She at Harvard Business School global carmakers learned the hard way seven years ago. He says a deadly to NAMI knocked out Japanese factories, including one that every brand depend on. There was this material that goes into automotive paint that makes black and red sparkley. Okay. There was a sole source factory there when that went out and all of a sudden, you couldn't get your car black anymore. Here's the problem is CEO might know, her supplier and her suppliers supplier. But beyond that, she says probably not there's the same invisibility with China and tariffs companies with complicated supply chains don't know, exactly. What's from China? And maybe surprise when the prices of those things go up Rosemary Coates is a customs broker, and she's executive director of the re shoring institute what component parts of the product are Chinese, for example, what component parts might be Korean or Taiwanese or. Malaysian, you know, it's really hard to know that. So they're going to get stuck unknowing in the unknowing will turn up in sectors. That surprise people says Willie she pharmaceutical firm source key compounds from China, then there's vitamins packaged food people. Don't realize how many components or food products come from China. We export fish caught in the North Atlantic to China for processing event comes back. The supply chain surprises won't just hit the manufacturers in most cases, they'll pass along the tariffs sticker shock to you. And me in Washington, I'm Scott Tong for marketplace. On Wall Street today once again, it's like the trade wars, not even a happening at the corner, Wall Street and broad. We'll have the details when we do the numbers..

US Scott Tong China Commerce Department Michaela Moro professor Mihir Desai president GOP Harvard Business School Harvard Law School Washington Nicole kaeding Suffolk university associate professor of account New York North Atlantic