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Nearly a year ago, #Trump pushed massive deficit-financed #taxcuts through the Republican Congress that temporarily juiced up the #economy. But they came at a steep cost. Businesses and wealthy households received a windfall, but the Treasury had to borrow hundreds of billions of dollars from global investors to cut the checks. Growth now, as the stimulus wears off, has slowed to where it was prior to the tax cut. Trump's argument that the #corporatetax cuts would incent businesses to invest more and support sustainably stronger long-term growth looks more and more like a pipe dream.
Trump's #tradewar is also corrosive on the economy. Higher tariffs have cut into #corporateprofits - General Motors warned last summer that tariffs on imported cars and parts could force the company to cut jobs. In November it announced plans to close 4 #US plants and cut thousands of jobs. Businesses are nervous, unsure of whether the president's next move is to lower the tariffs or raise them. That's another reason business investment has flat-lined.
#GlobalEconomy #EconomicOutlook #EconomicGrowth #AmericanEconomy #EconomicPolicy #EconomicSlowdown #USEconomy #UnitedStates
Trump's economy is a train wreck waiting to happen
https://edition.cnn.com/2019/02/05/perspectives/state-of-the-union-trump-economy/index.html
Trump's #tradewar is also corrosive on the economy. Higher tariffs have cut into #corporateprofits - General Motors warned last summer that tariffs on imported cars and parts could force the company to cut jobs. In November it announced plans to close 4 #US plants and cut thousands of jobs. Businesses are nervous, unsure of whether the president's next move is to lower the tariffs or raise them. That's another reason business investment has flat-lined.
#GlobalEconomy #EconomicOutlook #EconomicGrowth #AmericanEconomy #EconomicPolicy #EconomicSlowdown #USEconomy #UnitedStates
Trump's economy is a train wreck waiting to happen
https://edition.cnn.com/2019/02/05/perspectives/state-of-the-union-trump-economy/index.html
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New measures of #TaxCuts were unveiled by China’s Cabinet last Wednesday, expected to help small enterprises save about $29 billion each year. The new tax cuts are read as a stimulus to tackle the #EconomicSlowdown. Click the link to see more: http://ow.ly/xHyH50kdany
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While the new rules on hardship distribution make it easier for those accessing their #401k accounts in financial difficulties, some changes are optional and others do not become mandatory until 2020. We at +Alvarez & Marsal have sifted through the +Internal Revenue Service's guidance on these changes to address any hurdles to these new rules, their implementation, and any needed plan amendments. For more from our A&M #Taxand Senior Director James Deets: https://bit.ly/2HPaDou #UStax #TCJA #TaxCuts #JobsAct #Tax #FinancialServices #FinancialIndustry
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tax cuts
U.S. #economicgrowth will slow this year to 2.3% from 3.1% in 2018, as the stimulative effects of President Donald #Trump’s #taxcuts wane and the federal budget deficit climbs to nearly $900bn, according to congressional researchers. In its latest 10-year budget and economic outlook, the Congressional Budget Office said 2019 economic growth will also be affected by a projected slowdown in federal government purchases in Q4 of 2019.
#WorldEconomy #AmericanPolitics #POTUS45 #Politics #AmericanPoliticians #RepublicanParty #TrumpAdministration #TrumpShutdown #Republicans #America #AmericanEconomy #Economy #Democrats #DemocraticParty #UnitedStates #Trump
U.S. growth to slow in 2019 as deficit climbs: congressional researchers
https://www.reuters.com/article/us-usa-fiscal-congress/u-s-growth-to-slow-in-2019-as-deficit-climbs-congressional-researchers-idUSKCN1PM1VY
#WorldEconomy #AmericanPolitics #POTUS45 #Politics #AmericanPoliticians #RepublicanParty #TrumpAdministration #TrumpShutdown #Republicans #America #AmericanEconomy #Economy #Democrats #DemocraticParty #UnitedStates #Trump
U.S. growth to slow in 2019 as deficit climbs: congressional researchers
https://www.reuters.com/article/us-usa-fiscal-congress/u-s-growth-to-slow-in-2019-as-deficit-climbs-congressional-researchers-idUSKCN1PM1VY
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#TaxTipsTuesday - How to use Tax Time to be More Proactive with your #TaxPlanning
The first tax season under the new #TaxLaw has introduced some changes that may affect your financial plans. Whether you are still trying to get your #Tax information organized to meet this year’s income tax filing deadline or using this time of year as a proactive start to your tax planning efforts based on the new tax law, here are a few #TaxTips to help make the most of that time.
#Taxes #TaxReform #TaxCuts #TCJA #TaxDeadline
The first tax season under the new #TaxLaw has introduced some changes that may affect your financial plans. Whether you are still trying to get your #Tax information organized to meet this year’s income tax filing deadline or using this time of year as a proactive start to your tax planning efforts based on the new tax law, here are a few #TaxTips to help make the most of that time.
#Taxes #TaxReform #TaxCuts #TCJA #TaxDeadline
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The SMB Owner's Guide to Navigating the Tax Cuts & Jobs Act #Finance #Taxcuts #operational Accounting #Tax
6 Tax Cut Tips for Small and Mid-Sized Businesses With 2018 bringing the most sweeping changes to the U.S. TaxCode in a generation, there’s still a lot of uncertainty and confusion heading into year-end and the beginning of taxSeason. While some of the…
6 Tax Cut Tips for Small and Mid-Sized Businesses With 2018 bringing the most sweeping changes to the U.S. TaxCode in a generation, there’s still a lot of uncertainty and confusion heading into year-end and the beginning of taxSeason. While some of the…
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New Blog post is out today: Deductions under the New Tax Cuts and Jobs Act. Which is better: Standard or Itemized? #blog #taxlaw #taxcuts #tax2018 http://ow.ly/2mlX30i93gG
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With the #tax cuts and $1.2 trillion #budget #Tump and #Congress passed, the budget #deficit is rapidly growing. This will cause higher #interest rates, #inflation , lower dollar, higher interest payments, & possibly a #recession . We need to cut spending & increase taxes to fix this. Two unpopular things. Our kids and grand kids will pay a heavy price if we don't fix this. With more of the budget going to pay the interest payments, more programs and services will have to be cut. #TaxCuts #republican #democrat #invest #money #stock #bond
https://finance.yahoo.com/news/government-debt-exploding-heres-danger-203654548.html
https://finance.yahoo.com/news/government-debt-exploding-heres-danger-203654548.html
We're headed back toward $1 trillion annual deficits
finance.yahoo.com
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There was a point in early 2018 when big #Americancompanies couldn’t stop talking about the #Trump #taxcuts. Flush with the projected savings from a $1.5tn law, they promised to raise wages, hand out bonuses to workers and invest in big projects. They scored headlines, along with applause from President Trump. The fawning faded quickly. The handouts to workers amounted to a relatively small share of the roughly $200bn in federal income taxes that corporations avoided thanks to the cuts.
Wages across the economy ticked up, but not by nearly as much as some #Republicans had promised when they voted for the law. Capital investment surged at the start of the year, but the rate of growth fell sharply in Q3. While the long-term effects remain to be seen, the evidence so far does not suggest the sustained investment and productivity growth boosts that Republicans and supply-side economists predicted. Many economists, including those at the Federal Reserve, are cutting their growth forecasts for 2019, in part because of the waning effect of the tax cuts.
#WorldEconomy #AmericanPolitics #POTUS45 #Politics #AmericanPoliticians #America #GOP #TrumpAdministration #RepublicanParty #AmericanEconomy #EconomicPolicy #Economy
Trump’s Tax Cut One Year Later: What Happened?
https://www.nytimes.com/2018/12/27/us/politics/trump-tax-cuts-jobs-act.html
Wages across the economy ticked up, but not by nearly as much as some #Republicans had promised when they voted for the law. Capital investment surged at the start of the year, but the rate of growth fell sharply in Q3. While the long-term effects remain to be seen, the evidence so far does not suggest the sustained investment and productivity growth boosts that Republicans and supply-side economists predicted. Many economists, including those at the Federal Reserve, are cutting their growth forecasts for 2019, in part because of the waning effect of the tax cuts.
#WorldEconomy #AmericanPolitics #POTUS45 #Politics #AmericanPoliticians #America #GOP #TrumpAdministration #RepublicanParty #AmericanEconomy #EconomicPolicy #Economy
Trump’s Tax Cut One Year Later: What Happened?
https://www.nytimes.com/2018/12/27/us/politics/trump-tax-cuts-jobs-act.html
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