Three charts show the devastating impact that Covid lockdowns had on U.K. public finances as the IFS think tank warns that neither Labour nor the Tories have any room for tax cuts or spending splurges.
Trump has an even worse one in mind nowTrump wants to put through another big tax cut for the wealthy before the election and Bloomberg News is reporting that the regime thinks it can be done without approval from Congress— which certainly wouldn’t be coming. The plan is “to cut taxes by indexing capital gains to inflation.
The central argument of Amusing Ourselves [Neil Postman] is simple: there were two landmark dystopian novels written by brilliant British cultural critics – Brave New World by Aldous Huxley and Nineteen Eighty-Four by George Orwell – and we Americans had mistakenly feared and obsessed over the vision portrayed in the latter book (an information-censoring, movement-restricting, individuality-emaciating state) rather than the former (a technology-se
Characterizations of the Tax Cuts and Jobs Act have followed agendas – its opponents maintaining it is a bill for the wealthy, and its supporters arguing that the bill fairly satisfies all economic levels.
WASHINGTON — Weeks after he was sworn in as president, Donald Trump met with Harley-Davidson executives and union representatives at the White House, to win support for his tax-plan proposal:
I think you’re going to even expand — I know your business is now doing very well, and there’s a lot of spirit right now in the country that you weren’t having so much in the last number of months that you have right now.”
Once again, President Trump touted the supposed benefits of the new tax law at an April 12 ceremony in the Rose Garden. “Our massive tax cuts are growing paychecks all over our country [and] creating jobs and expanding the American dream just like we said would happen,” he said, in a surprisingly disciplined statement.
The oil and gas industry benefitted to the tune of billions of dollars from the Trump tax cut bill… And you didn’t.
That America’s income distribution has grown dramatically more unequal in the past 40 years is beyond debate. The share of the top 1 percent has doubled since 1980, to over 20 percent of all income.
Could it get any worse? A look at America’s large, privately held corporations suggests it could.
When Americans think of large corporations, most of us think of corporations like Pepsi or ExxonMobil, whose shares are publicly traded.
For families under age 35, growth of student debt outstrips by far the growth of any other debt source, including mortgage and credit card debt (source).by Gaius PubliusIn America today, 44 million people collectively carry $1.4 trillion in student debt.
INDIANAPOLIS – The morning commute in this landlocked Midwestern city is an obstacle course of potholes, buckled pavement, and shards of fugitive cement. Like infantrymen navigating a minefield, motorists swerve and stop, and zig and zag in rush hour traffic to avoid the peril from below.
