Taxes

Kansas or California as a Model for America’s Future Growth?

By The Fiscal Times Staff

If you had to choose either Kansas or California to serve as a model for America’s future growth, which would it be, Bloomberg’s Barry Ritholtz asks . The answer, he argues, is obvious — yet...
Time to Blame Trump for Your Football Team's Lack of Talent?

By Yuval Rosenberg

Fans of the 1-and-5 Oakland Raiders, San Francisco 49ers or New York Giants are already suffering plenty this season, but a new report by Bloomberg News’ Lynnley Browning might depress them even...
Quote of the Week: Trump’s Big Bet on Supply-Side Economics

By The Fiscal Times Staff

“There has never been a President with policies so simultaneously bullish and bearish as Donald Trump! He is stepping on the economy’s accelerator and brakes at the same time. … Trump is making a...
Kamala Harris' Trillion-Dollar Tax Plan

By Michael Rainey

Republicans aren’t the only ones coming up with trillion-dollar tax plans. California’s Kamala Harris, a rising Democratic star in the Senate, released a proposal Thursday to repeal the $1.9 trillion...
Trump Is Hitting Economy’s Accelerator and Brakes at the Same Time: Analyst

By Yuval Rosenberg

Stocks have experienced some dramatic swings in recent days as investors try to digest and make sense of corporate earnings; rising interest rates and conflicting monetary and fiscal policy;...

Trump’s Tariffs Could Dampen Investment Spurred by the Tax Cuts

By Michael Rainey

A new Philadelphia Fed survey highlighted by MarketWatch’s Steve Goldstein suggests that some manufacturing businesses see the President Trump’s tax and tariff policies as working at cross purposes...
Republicans Ignore the Obvious Effect of Their Tax Cuts

By Yuval Rosenberg

President Trump, top administration officials and Republican congressional leaders claim that the rising deficit, which grew 17 percent to $779 billion in fiscal 2018, is not the result of their tax...
Why Tax Cuts in a Strong Economy Could Hurt in the Long Run

By Michael Rainey

Passing tax cuts in an already strong economy violates the important fiscal principle, says Jared Bernstein, former chief economist to Vice President Joe Biden, in The Washington Post Wednesday. “...
Kudlow Says the Party's Just Getting Started, but Is the Economy Headed for a Hangover?

By Michael Rainey

Senior White economic advisor Larry Kudlow touted the Trump economy Friday, telling CNBC that “[w]e're in a hot economic boom. There's no end in sight." As a result, the stock market should “get back...
Mnuchin Spins a False Claim About Tax Cuts and the Deficit

By Yuval Rosenberg

The Congressional Budget Office projected last week that the federal government’s fiscal 2018 deficit would total $782 billion. The final numbers will be released by the Treasury Department, but...

‘Beware Trillion-Dollar Deficits,’ Barron’s Says

By Yuval Rosenberg

In the latest Barron’s cover story, Jack Hough warns of the long-term risks of rising U.S. public debt. While noting that there’s little chance of hitting debt-related turbulence anytime soon and...
Buybacks Are Now the Top Way for Companies to Spend Their Cash

By Michael Rainey

Stock buybacks are now the most popular way for S&P 500 companies to spend their profits, the first time that’s happened in 10 years, Goldman Sachs said in a research note Friday. Buybacks surged...
Kudlow: ‘I Don’t Buy’ That Tax Cuts Boosted Deficit

By Yuval Rosenberg

Larry Kudlow is at it again. Speaking at the Economic Club of New York, the top economic adviser to President Trump said that, while the administration is looking to cut federal spending — including...
Why Trillions in Offshore Profits May Stay Offshore

By Michael Rainey

The tax law that went into effect this year imposed a one-time, reduced tax on profits held overseas by U.S. companies. The tax holiday was designed to encourage corporations to bring money home, to...
Tax Cuts Put the Brakes on Bracket Creep

By Michael Rainey

Receipts from individual income taxes tend to rise every year due to what economists call “bracket creep” – the movement of more taxpayers into higher tax brackets over time, even as tax rates stay...