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  • Beware, the IRS is eyeing your inherited money

    07/15/2019 10:21:23 AM PDT · by DFG · 34 replies
    Market Watch ^ | 07/15/2019 | Staff
    One of the perils of being well-off is the constant risk that the federal government and/or your friendly state and local tax collectors will figure out new and different ways to snatch more of your wealth. Especially wealth that you earned the old-fashioned way: by inheriting it. To raise your paranoia to the appropriate level, here are two new things to worry about. Few noticed when the House of Representatives in May overwhelming passed the imaginatively named “Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019.” The vote was 417-3. Senate passage was thought to be a mere...
  • Bitcoin price tumbles following Trump’s criticism

    07/15/2019 9:52:30 AM PDT · by xzins · 20 replies
    Fox News ^ | July 15, 2019 | Katherine Lam
    The price of bitcoin tumbled Monday after President Trump Opens a New Window. tweeted Thursday that he was “not a fan” of cryptocurrencies and criticized Facebook’s Opens a New Window. Libra digital currency that’s set to launch next year. Bitcoin price briefly hit below $10,000 just after midnight Monday, a two-week low for the leading digital coin, Coindesk’s data Opens a New Window. showed. The cryptocurrency appeared to rebound slightly to bring it past $10,000 as of Monday morning. It’s unclear what caused the sudden price drop, but it comes just days after Trump took to Twitter to slam cryptocurrencies....
  • Citing higher minimum wages in Seattle, Portland, and SF, restaurant chain files for bankruptcy

    07/15/2019 9:08:13 AM PDT · by SeekAndFind · 17 replies
    American Thinker ^ | 07/15/2019 | Thomas Lifson
    Progressives never learn.  Even as Democrats running for president line up behind a national $15/hour minimum wage, on the West Coast, where cities like Seattle, Portland, and San Francisco all have implemented this demand, a restaurant chain with over 2,000 employees has filed for bankruptcy, citing the high minimum wages that have increased its costs. Jeremy Hill reports for Bloomberg (hat tip: Legal Insurrection): Progressive wage policies helped force upscale eatery operator Restaurants Unlimited Inc. into bankruptcy, according to court documents filed Sunday. The company, which operates 35 restaurants ranging from fine dining to "polished casual" eateries, including Henry's Tavern, Stanford's, and Kincaid's, filed for Chapter 11 protection...
  • Economic improvement in China’s northeast rust belt is just skin deep as state firms bleed

    07/15/2019 2:02:42 AM PDT · by Zhang Fei · 5 replies
    South China Morning Post ^ | Published: 6:30pm, 14 Jul, 2019 | Elaine Chan
    When China’s central government chose Shenyang Machine Tool, a state-owned manufacturing behemoth in the northeastern province of Liaoning, to undergo a programme of reform two years ago, it probably imagined it would provide a yardstick for the broader regeneration of the region as a whole. It could not have been more wrong. While the provincial authorities reported growth of 6.1 per cent in the first quarter, which was on a par with the national figure, little of that upturn came courtesy of Shenyang Machine Tool. In fact, the company’s decline, coupled with years of losses due to mismanagement and political...
  • China's Q2 GDP grows at slowest pace in 27 years

    07/14/2019 7:40:00 PM PDT · by lasereye · 20 replies
    Marketwatch ^ | July 14, 2019 | Liyan Qi
    BEIJING--China's gross domestic product rose 6.2% in the second quarter from a year earlier, the slowest pace in at least 27 years, according to official data released on Monday. The result was the slowest since the first quarter of 1992 when the earliest quarterly data was available, according to Wind. In the first quarter, China's GDP grew 6.4% from a year earlier.
  • Tom Steyer is Biden’s biggest threat

    07/15/2019 6:55:10 AM PDT · by Kaslin · 16 replies
    Fox ^ | July 15, 2019 | David Avella
    President Trump’s impeachment organizer Tom Steyer has joined the race to become the Democratic presidential nominee with a pledge to spend $100 million of his own billion-dollar fortune. While it will not put him any closer to defeating Donald Trump, it does likely close the door on former Vice President Joe Biden winning the nomination. Steyer’s notoriety comes from donating the billions he has made investing in fossil fuels, private prisons and subprime lending companies into progressive activism for impeaching President Trump and reckless environmental policies. He will be pushing the same radical, job-killing climate change ideas that those defining...
  • Howard Schultz Unifies the Parties -- Against Him

    02/06/2019 10:10:33 AM PST · by Kaslin · 21 replies ^ | February 6, 2019 | Salena Zito
    The endless fight between Republicans and Democrats seemed to pause last week. The cause: former Starbucks CEO Howard Schultz's announcement on "60 Minutes" on Jan. 27 that he is seriously considering a 2020 run for president as a centrist independent. Social media and partisan opinion writers lost their collective minds on that possibility, one of the parties seemingly deploying an activist to disrupt his first public outing, a New York City book event. "Don't help elect Trump, you egotistical billionaire a--hole," the heckler yelled. "Go back to getting ratio'ed on Twitter. Go back to Davos with the other billionaire elites...
  • Democrats have moved ‘too far to the left,’ says BET network founder Bob Johnson

    07/12/2019 10:25:57 AM PDT · by MarvinStinson · 25 replies
    cnbc ^ | JUL 10 2019 | Holly Ellyat
    America’s political establishment is riven with partisanship that has become “very wicked and very mean,” said entrepreneur and media mogul Robert Johnson, who added that the Democratic Party has become too liberal for his liking. “The party in my opinion, for me personally, has moved too far to the left,” Johnson, the founder of cable network BET and RLJ Companies business network, told CNBC’s Hadley Gamble Tuesday. “And for that reason, I don’t have a particular candidate (I’m supporting) in the party at this time,” he said. “I think at the end of the day, if a Democrat is going...
  • Record 157,005,000 Employed; 19th Record of Trump Era

    07/05/2019 11:20:12 AM PDT · by xzins · 56 replies
    CNS ^ | July 5, 2019 | susan Jones
    A record 157,005,000 people were employed in June, the most since February and the 19th record of Trump's presidency, the Bureau of Labor Statistics reported on Friday. And the economy added a strong 224,000 jobs in June, well above the estimate of 160,000. The unemployment rate, the lowest in 50 years, ticked up a tenth of a point to 3.7 percent. In June, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 259,037,000. Of those, 162,981,000 participated in the labor force by either holding a job...
  • U.S. Job Growth Rebounds With 224,000 Created In June, Quelling Fears Of Economic Slowdown

    07/05/2019 6:38:55 AM PDT · by SeekAndFind · 35 replies
    U.S. employers added 224,000 jobs Opens a New Window. in June, beating Wall Street Opens a New Window. ’s expectations of 160,000 likely quelling some concerns about an impending economic slowdown on the heels of a worse-than-expected month for job creation. The unemployment rate ticked up slightly at 3.7 percent, while the labor force participation rate was also little unchanged at 62.9 percent. Average hourly earnings, meanwhile, rose by 6 cents to $27.90. Over the year, average hourly earnings have increased by 3.1 percent, slightly missing expectations of 3.2 percent growth. Fox News Posted at 9:15 am on July 5,...
  • Economy adds 224K jobs in June, exceeding expectations

    07/05/2019 6:08:48 AM PDT · by yesthatjallen · 17 replies
    The Hill ^ | 07/05/19 | Sylvan Lane
    The U.S. added 224,00 jobs in June, the Labor Department reported Friday, exceeding expectations amid heightened concerns about the health of the economy. The unemployment rate ticked up slightly to 3.7 percent, but the strong June jobs gains are welcome news for economists after a May jobs report that fell far short of initial predictions. This developing report will be updated.
  • $1.5 trillion tax cut had no major impact on business spending

    01/28/2019 1:29:13 PM PST · by C19fan · 66 replies
    Reuters ^ | January 28, 2019 | Staff
    The Trump administration's $1.5 trillion tax cut package appeared to have no major impact on businesses' capital investment or hiring plans, according to a survey released a year after the biggest overhaul of the tax code in more than 30 years. The National Association of Business Economics' quarterly business conditions poll, published on Monday, found that while some companies reported accelerating investments because of lower corporate taxes, 84 percent of respondents said they had not changed plans. That compares to 81 percent in the previous survey published in October.
  • Five Principles That Will Power President Trump's Reelection

    07/04/2019 3:41:28 PM PDT · by Hojczyk · 11 replies
    Forbes ^ | Jly 2,2019 | Loren Thompson
    Peace. Trump said this week that if he hadn’t been elected, the U.S. would be at war with North Korea. That’s a stretch, but he has demonstrated repeatedly that he is not eager to use America’s military overseas. Prosperity. The single most reliable indicator of whether an incumbent president will be reelected is whether the economy is doing well. Under Trump, the economy is going gangbusters—in fact, better than most economists predicted was even possible. With unemployment at record lows and the stock market at record highs, there isn’t even a hint of inflation. Trump stimulated an economy Sovereignty. If...
  • Dow Industrials Close at Record High

    07/03/2019 10:06:29 AM PDT · by abb · 54 replies
    The Dow Jones Industrial Average closed at a record on Wednesday, notching its fourth straight session of gains.
  • Trump’s Deregulation Is Strengthening Families

    07/02/2019 6:47:05 AM PDT · by Kaslin · 7 replies ^ | July 1, 2019 | Horace Cooper
    Two things happened last week that may not seem connected, but are. The first was the release by the White House Council of Economic Advisors of a new report showing the deregulatory accomplishments of the Trump administration. The second was the gathering of nearly 1,000 social conservative activists from across the country for the annual conference held by the Faith and Freedom Coalition.While ending abortion and religious liberty remain the centerpiece issues for social conservatives, there is an important thread running through the beneficial impacts of deregulation and the beneficial impacts of strong families.This thread manifests itself in two ways. The first...
  • AP-NORC Poll: Trump not boosted by strong American economy [lol]

    07/01/2019 11:09:27 PM PDT · by Olog-hai · 25 replies
    Dissociated Press ^ | July 1, 2019 | Josh Boak and Hannah Fingerhut
    The solid economy is doing little to bolster support for President Donald Trump. Americans give Trump mixed reviews for his economic stewardship despite the growth achieved during this presidency, according to a new survey by The Associated Press-NORC Center for Public Affairs Research. Nearly two-thirds describe as “good” an economy that appears to have set a record for the longest expansion in U.S. history, with decade-long growth that began under Barack Obama. More people consider the economy to be good today than did at the start of the year. But significantly fewer approve of Trump’s handling of the economy, even...
  • Did the Democrats just say they want a national Sales Tax instead of a national Income Tax????

    07/01/2019 10:23:56 PM PDT · by GraceG · 52 replies
    <p>Okay so I was driving home from work and was stewing over the whole all the hands up in the air for "We want universal healthcare for illegal aliens"....</p> <p>And then I realized one of those jackass fools said that "Undocumented Migrants pay taxes too...' sort of jackass excuses they use as a flimsy ass justification for their utterly retarded positions....</p>
  • Even ‘Moderate’ Democrat Candidates Who ‘Aren’t Socialists’ Like Bernie Still Wildly Extreme

    07/01/2019 12:33:22 PM PDT · by SeekAndFind · 15 replies
    The Federalist ^ | 06/30/2019 | Joshua Lawson
    For anyone wondering if there were any centrist or “moderate” Democrats who could appeal to independent voters and threaten President Trump’s reelection bid in 2020, the first two debates answered that question. There aren’t. In 2004, Rep. Dennis Kucinich ran on the ideas of socialized medicine and taxpayer-paid education from kindergarten to college. His platform was derided by the majority of political commentators as far outside the mainstream, even downright wacky. Kucinich’s proposals were bad then, and they’re bad now. But in this election cycle, most Democrats running for president are either lined up with 2004 Kucinich or further to...
  • For 2020 Democrats, It’s ‘Ignore The Economy, Stupid’

    07/01/2019 7:37:16 AM PDT · by bitt · 23 replies ^ | 7/1/2019 | staff
    How do Democrats sell their policies when the economy is doing well and unemployment is at 50-year lows? By avoiding the subject. At least, that’s what Democrats did during the two nights of debating. The very first question asked in the first debate, by Savannah Guthrie, was about whether the Democrats’ far-left agenda would risk the economic growth we’ve been enjoying. “Seventy-one percent of Americans say the economy is doing well, including 60% of Democrats,” she said. “What do you say to those who worry this kind of significant change could be risky to the economy?” Sen. Elizabeth Warren, the...
  • US economy breaks record with post-recession expansion

    07/01/2019 8:43:30 AM PDT · by Olog-hai · 29 replies
    Fox Business ^ | July 01, 2019 | James Leggate
    The U.S. economy broke a record for its longest expansion ever Monday. Economic expansion has continued for more than 10 years. Growth is now in its 121st month since the Great Recession ended in June 2009, according to the National Bureau of Economic Research. The economy set its previous 120-month record between March 1991 and March 2001. That growth period ended after the dot com bubble burst. The rate of growth, however, has been slower than during other periods of economic expansion. For example, during that previous record-holding period in the 90s, the average growth was 3.6 percent per year....