President Trump has a lot going for him these days, at least economywise. “Wage growth has been fairly muted, considering the tightening in the labor market,” says Ryan Sweet, director of real-time economics at Moody’s Analytics, which provides the data for our report card.
The agreement reached on the tax bill would lower the top individual rate to 37% – which is actually lower than either the House or Senate proposed in its initial legislation.
The tax cuts Congress is likely to pass by the end of the year will benefit many Americans, harm some and leave others unaffected. Perhaps it’s no surprise that Republicans across the country will benefit more from the cuts than Democrats or Independents, according to a new Yahoo Finance analysis of
Under the tax-cut legislation Congress could pass by the end of the year, roughly three-quarters of all households would get a tax cut. But that’s only if taxpayers never have to come up with the $1.5 trillion in foregone tax revenue over a decade that the plan would cost Uncle Sam.
I bought a fraction of a bitcoin in October, and my little investment has appreciated about 150% since then. But if I want to cash out, I might have a problem — because apparently it's not so easy to sell.
The latest Quinnipiac poll, for instance, shows that 53% of Americans disapprove of the Republican tax plan, while just 29% approve. Here’s a more telling finding: Forty-one percent of respondents in the Quinnipiac poll think the GOP tax plan will raise their taxes, while just 20% think it will lower
The national debt isn’t a problem right now, which is why Republicans are willing to borrow another $1.5 trillion over the next decade to give tax cuts to most businesses and some households. But at some point, the United States will have to reduce annual deficits and a likely solution is a national
The budget deficit is headed back toward trillion-dollar territory. With no changes in U.S. fiscal policy, the nonpartisan Congressional Budget Office forecasts an annual deficit of $1.027 trillion in 2022, as federal revenue fails to keep pace with the ballooning costs of Social Security, Medicare and
There’s now a Senate bill and a House bill that would slash taxes by roughly $150 billion per year over the next decade. Both are not very popular, but Congress can change a merged bill during the final few weeks of haggling, to make it less damaging and more politically defensible.
Vice President Mike Pence, who would succeed President Donald Trump if he was impeached, is more of an establishment Republican than Trump, and would probably calm markets once he were fully in charge.
As a major tax cut for businesses comes closer to reality, perhaps the biggest looming question involves who will benefit. Will businesses share the forthcoming windfall with workers, making everybody better off? Or will owners and shareholders pocket most of the money?
The impact of tax cuts, it turns out, seems likely to vary greatly based on the type of business and its location, along with arcane details Congress is still working out. So Yahoo Finance conducted an online survey of more than 1,000 business owners and asked whether tax cuts would generate more spending
The GOP tax cut plan is making its way through Congress and will likely be President Donald Trump's biggest policy achievement but it isn't going to provide much relief for the working and middle-class Trump vowed to help while campaigning for president in 2016.
It’s very hard to predict how tax cuts will affect the overall economy in the long run. But at least some implications of the GOP tax plan are fairly clear. Here are the basics.
Americans file about 140 million tax returns each year, so if you split the difference between the House and Senate legislation, and assume 8% of filers would pay more, that adds up to about 11 million filers whose taxes would go up.
The biggest winners from big tax-cut legislation Congress could pass by the end of the year will be the shareholder class — people who own stocks and stakes in privately held companies.
It’s the hottest investment of the year. But be careful buying it. That’s the view of several thousand Yahoo Finance readers who took our recent survey on bitcoin, the digital currency that’s up nearly 600% in value this year.
The rhetoric surrounding the GOP tax cut plans moving through the House and Senate touts the benefits for ordinary Americans. Here’s what they’re leaving out: Tax cuts for individuals would expire in a few years under the Senate plan, which means tax cuts today would end up being tax hikes tomorrow.
In addition to slashing the tax rate on businesses, legislation in both the House and Senate would establish new incentives for investing in plants and equipment. “We are subsidizing an investment in robots, but we’re not subsidizing an investment in people,” says Edward Kleinbard of the USC Gould School
While there are major differences in the House and Senate tax bills, there are also some important similarities, which suggest points of agreement. These are points likely to end up in a final bill.
The House and Senate have now both introduced tax legislation, which means it’s game-on for tax cuts. The House bill would cut my tax burden by roughly $5,000, according to calculations I made after that plan came out in early November. I’d fare much worse under the Senate plan, which would raise my