Money


Trump tax plan: Relief for his voters but lots of unknowns Trump tax plan: Relief for his voters but lots of unknowns
- May 07, 2017

But Trump's top economic adviser used some bad math to describe the proposal, raising questions. "We're going to double the standard deduction so that a married couple won't pay any taxes on the first $24,000 of income they earn". The plan would eliminate all individual deductions except the charitable and mortgage interest deductions . Last year, more than 43 million families claimed the deduction , saving them almost $70 billion . (more...)
Trump Tax Plan Could Lead To Tax Increase For Some New Yorkers Trump Tax Plan Could Lead To Tax Increase For Some New Yorkers
- May 02, 2017

The less Republicans are willing to restrain spending now, the more restrained their tax cuts should also be. "My tax return is this high". More lower-income Americans would pay no tax at all, and there would be relief - still undefined - for families with child care expenses. (more...)
Be wary of White House claims about tax plan
- April 28, 2017

Alan Cole, an economist at the right-leaning Tax Foundation, has calculated that Trump's corporate tax cut alone would cut federal revenue by $2 trillion over 10 years. Thoughtful reforms can improve health outcomes, encourage work, strengthen retirement security, and reduce the long-term debt all while protecting the most vulnerable. (more...)
Trump touts executive orders he once lambasted Trump touts executive orders he once lambasted
- April 28, 2017

Jerrold Nadler (D-N.Y.), one of the lawmakers involved. If Trump never makes a statement of commitment, Trump supporters never have to confront what they really voted for. Trying to unsuccessfully tackle repeal and replacement of Obamacare early on in his presidency might have cost Trump his honeymoon period - the early period in office when US presidents typically enjoy higher approval ratings. (more...)
State, Local Governments Are Not Feeling Trump's New Tax Plan State, Local Governments Are Not Feeling Trump's New Tax Plan
- April 27, 2017

Yet the proposal so far remains short of vital details, including how it would be paid for. Trump's plan would replace the current seven income tax brackets with three, and the top bracket would drop from 39.6 percent to 35 percent. The administration's tax outline still leaves many questions unanswered and will be met with a lot of skepticism among lawmakers, even though Republicans control Congress. (more...)
United changes policy, crew can't displace seated passengers United changes policy, crew can't displace seated passengers
- April 26, 2017

The airline, owned by United Continental Holdings Inc, said it would make sure crews traveling on their aircraft are booked into seats at least 60 minutes before departure. The incident has had wider ramifications with some USA politicians calling for higher compensation for passengers who are bumped from oversold flights. (more...)