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Keyword: taxcuts

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  • 100 manufacturers have increased hiring, given bonuses or raises since TRUMP/GOP tax reform

    08/17/2018 3:01:27 PM PDT · by SleeperCatcher · 3 replies
    The National Sentinel ^ | 8/17/18 | USA Features
    Crumbs, not: If the financial growth we’re now seeing continues for an additional six-and-a-half years of POTUS Donald Trump and a more Trump-friendly GOP majority (yes, we believe he’s got 2020 in the bag), the United States will experience an economic renaissance the world has seldom seen. Thanks to the tax reform bill passed by Congress (opposed by every Democrat, by the way), American manufacturing is growing at a pace not seen in decades. Not only that, but companies are sharing their windfall — and no, they’re not handing out “crumbs,” as that out-of-touch multimillionaire Nancy Pelosi once said.
  • Earnings roundup: 2Q profit growth even better than expected

    08/03/2018 7:27:56 AM PDT · by Olog-hai · 5 replies
    Associated Press ^ | Aug. 03, 2018 8:17 AM EDT
    Investors came into this earnings season with high expectations. They weren’t high enough. Companies in the S&P 500 are on track to deliver earnings-per-share growth of 24 percent for the second quarter. When the quarter started in April, Wall Street was expecting a 19 percent jump, according to FactSet. So far, about three quarters of the companies in the index have reported. If the current pace holds, it would mark the second straight quarter that growth has been close to 25 percent. The big profit gains are an encouraging sign to investors because stock prices tend to track with profits...
  • Another Economic Stat to look at: Railroads

    07/04/2018 10:07:13 AM PDT · by TMA62 · 17 replies
    One stat to look for in this growing economy is the weekly rail statistics report from the Association of American Railroads (AAR). I have attached the link. It is a weekly summary of car loadings compared to last year. (Note: the tax cuts were passed in January so it is a good comparison to last year.) Nearly everything is up in the 2-4 percent range. Petroleum (unit tank car trains) really up. The other big stat is intermodal (trailers on flatcars or double stack containers). Intermodal is around 6-8 percent growth from last year and is leading the recovery. The...
  • Nurturing a small business boon

    06/30/2018 11:42:54 AM PDT · by TBP · 4 replies
    The Washington Times ^ | Thursday, June 28, 2018 | Linda McMahon
    Mike Zaffaroni calls the newest piece of equipment at his landscaping company in Jacksonville, Florida, his “Tax Cut Truck.” He had long wanted to expand the services he offers to his customers and says the tax cuts President Donald J. Trump signed into law six months ago were the motivation he needed to buy the $80,000 truck and forklift. Under the Tax Cuts and Jobs Act, most small businesses will now be able to deduct 20 percent off their business income in addition to having their taxable income taxed at lower rates. And for the first five years, they’ll be...
  • Thanks To Tax Cuts, Companies' Overseas Profits Now Flooding Back To U.S.

    06/27/2018 9:28:55 AM PDT · by SeekAndFind · 18 replies
    IBD ^ | 06/27/2018
    They said it wouldn't happen, but it did: The money companies stashed overseas to protect them from high U.S. corporate tax rates is flooding back in, boosting growth, jobs and confidence in the economy. Thank the Trump tax cuts. All told, the Bureau of Economic Analysis (BEA) reported, some $305.6 billion returned to the U.S. from overseas accounts. That's a $1.2 trillion annual rate, and far more than the $35 billion one year before. The BEA's analysts explain why this happened: "The large magnitudes (of inward capital flows) ... reflect the repatriation of accumulated earnings by foreign affiliates of U.S....
  • The American economy is stronger than ever six months after tax cuts

    06/22/2018 9:25:43 AM PDT · by yesthatjallen · 14 replies
    The Hill ^ | 06/22/18 | Mattie Duppler
    Six months ago today, President Trump signed into law the Tax Cuts and Jobs Act, historic legislation which streamlined our tax code and offered much-needed tax relief to the American people. Since passage of the bill, the once-in-a-generation tax overhaul championed by President Trump and Republicans in Congress has already provided numerous benefits and an even brighter future for the American people. Gone is the outdated system that took too much of our money, sent our jobs overseas and stagnated our economy. Americans are now seeing thousands of dollars in tax relief and bigger paychecks. Middle-class families are benefitting from...
  • Tax cuts increased take-home pay of Democrat Senate candidate Jacky Rosen’s campaign staff

    06/01/2018 9:13:11 AM PDT · by VegasVictor · 3 replies
    Las Vegas Review-Journal ^ | June 1, 2018 | Victor Joecks
    In February, the campaign team of Democratic Rep. Jacky Rosen saw a pay bump — thanks to the Republican tax plan. Rep. Rosen is challenging Sen. Dean Heller, and she’s repeatedly voiced her opposition to the tax cuts Republicans passed last year. The tax cuts will “increase the economic anxiety of too many Nevada families at their kitchen tables,” she wrote in November. In December, she called it a “disastrous tax scheme” and accused Heller of raising taxes on “hardworking Nevadans.” Given their refusal to return phone calls seeking comment, it’s debatable whether Rosen’s staff qualifies as “hardworking.” What’s not...
  • Utilities save millions because of federal tax reform

    05/30/2018 3:29:24 PM PDT · by buckalfa · 9 replies
    WV MetroNews ^ | May 30, 2018 | Jeff Jenkins
    CHARLESTON, W.Va. — Appalachian Power Company saved $235 million dollars from the federal tax cuts and the company is proposing passing the money back to its customers in a variety of ways. The multi-pronged proposal is in a filing with the state Public Service Commission due Wednesday. The PSC is requiring all utilities to tell it their tax ts West Virginia Consumer Advocate Jackie Roberts told MetroNews the money clearly belongs to the customers. “They (the utilities) had taxes in their rates and now the taxes in their rates have significantly decreased—so they shouldn’t be able to keep collecting and...
  • They Aren't Crumbs! Business Owner Sets Pelosi Straight at CNN Town Hall (WATCH)

    05/25/2018 9:29:37 AM PDT · by SeekAndFind · 19 replies
    PJ Media ^ | 05/25/2018 | Caleb Howe
    This is great. Nancy Pelosi's "crumbs" comment has rightly followed her around since she first uttered it.After the GOP tax cuts, it was raining bonuses out there. Nancy described those bonuses that were being bragged about at family dinners and being used to pay bills or buy necessities as "the crumbs that they are giving to workers." She (and Democrats in general) has been paying for it ever since.Which includes last night at a CNN Town Hall, as a small business owner named John Anfinson went after her. Watch: We are a small business of seven full-time employees that...
  • Tax Revenues Jump 13% To Record High In April — When Will Dems Admit They Were Wrong?

    05/11/2018 9:16:27 AM PDT · by SeekAndFind · 22 replies
    IBD ^ | 05/11/2018
    The federal government collected far more taxes this April than it did a year ago, despite the "budget busting" Trump tax cuts. So, we'll ask again: Are the tax cuts paying for themselves? According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month. For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%. That's a faster rate of growth than occurred during President...
  • Pelosi Dodges Question on Whether She Would Make Middle Class Tax Cuts Permanent

    05/10/2018 2:03:59 PM PDT · by jazusamo · 9 replies
    Townhall.com ^ | May 10, 2018 | Lauretta Brown
    House Minority Leader Nancy Pelosi (D-CA) dodged some questions Thursday on whether she would tell Democrats to vote for making middle class tax cuts in the GOP tax reform bill permanent. The moderator referenced Republicans planning a vote to make the middle class tax cuts permanent, asking “are you going to tell Democrats for or against doing that?” Rather than responding directly, Pelosi bashed Republicans for not making the tax cuts permanent in the first place. “Well you see, here’s what this is since we’re having a budget meeting,” Pelosi began. “The reason they didn’t make them permanent in...
  • Pelosi says Dems will work to roll back Trump tax cuts if they retake Congress

    05/09/2018 2:58:47 AM PDT · by Libloather · 38 replies
    Fox News ^ | 5/08/18 | Samuel Chamberlain
    House Democratic Leader Nancy Pelosi indicated Tuesday that her party would like to roll back the tax reform law passed last year if they gain control of Congress this November. At a breakfast hosted by Politico, reporter Jake Sherman asked Pelosi to respond to a Republican ad that claims "you would like to institute a single-payer health care program and cancel — [raise] taxes, I think they mean, roll back the tax cuts they passed this year." "Well, the second part there is accurate," Pelosi chuckled in response, before adding "I do think we should revisit the tax legislation in...
  • Trump tax cut leaves blue states bluer, but they do have a way out (SALT sends NY, CA scrambling)

    05/04/2018 7:18:27 AM PDT · by SeekAndFind · 26 replies
    The American Spectator ^ | 05/04/2018 | HUNT LAWRENCE AND DANIEL J. FLYNN
    High-tax states face a choice: reduce taxes or lose taxpayers. Stephen Moore and Art Laffer forecast in the Wall Street Journal the loss of 800,000 California and New York residents over the next three years. The exodus, the economics experts say, comes because of the tax bill, which limits the state and local tax (SALT) deduction to $10,000, passed in December. Previously, the feds forced no monetary limit on filers. California taxes individuals earning $1 million or more at a rate of 13.3 percent. New York levies an 8.8 percent rate upon individuals making a similar amount of money annually....
  • Blue City Exodus Could Accelerate Because Of The GOP Tax Cut

    04/25/2018 12:33:30 PM PDT · by SeekAndFind · 21 replies
    Hotair ^ | 04/25/2018 | John Sexton
    A columnist for the Hill published a piece today outlining what she calls the “great exodus” out of America’s bluest cities. This is a well-established trend, one which our own Jazz Shaw has written about as recently as January. The author of the Hill piece argues that the GOP tax cut is about to put this trend into overdrive: The recently passed tax bill, which repeals the state and local tax (SALT) deduction, will only speed up the exodus. Thanks to the bill’s passage, many New York taxpayers will save little or nothing despite a cut in the federal...
  • Turns Out, The Rich Will Pay An Even Bigger Share Of Income Taxes Under GOP Tax Cuts

    04/25/2018 8:10:49 AM PDT · by SeekAndFind · 3 replies
    IBD ^ | 04/25/2018
    Tax Fairness: The most frequently repeated complaint about the Republican tax cuts is that they are a massive "giveaway" to the rich. New evidence shows that this claim, like almost every other attack on the tax bill, is false. In the run-up to the passage of the tax reform plan, which President Trump signed into law on Dec. 22, critics attacked it on several fronts. They said there was no way the tax cuts would spur extra economic or job growth. But after the tax cuts went into effect, several economists sharply increased their growth forecasts for 2018. They said...
  • Gallup: Tax Cut Not Moving the November Needle

    04/24/2018 5:34:37 AM PDT · by ChicagoConservative27 · 33 replies
    brietbart ^ | 04/23/2018 | Neil Munro
    A Gallup poll shows a very mixed reaction by Americans to the GOP tax cut, creating another November problem for the establishment wing of the GOP. “Republicans have been increasingly more positive about their federal income taxes since [President Donald] Trump took office last year … [but] independents’ and Democrats’ views have not changed much,” Gallup reported April 16 about its survey of 1,015 adults, which was conducted early April. That’s bad news for the GOP leadership, which is hoping that the tax benefits will spike turnout by GOP voters, help with independents and mute Democratic opposition. Without strong voter...
  • A man confronted Phil Murphy about taxes. Here's how he responded.

    04/20/2018 5:21:51 PM PDT · by GuavaCheesePuff · 14 replies
    Newark Star-Ledger ^ | April 20, 2018 | Brent Johnson
    The man stood right in front of Gov. Phil Murphy and was blunt. "This state is too expensive, and you're making it worse," Greg from Freehold told the Democratic governor during a town hall in Newark on Thursday night. Three months into his tenure, Murphy had come to Newark Tech High School to sell his first state budget proposal -- a $37.4 billion plan that includes more than $1.5 billion in new taxes and moves to close loopholes. The governor argued those hikes are needed because he "inherited a mess" from his predecessor, Republican Chris Christie, and that the state...
  • Paul Krugman: The Great Snake Oil Slump (Why Trump's Tax Cuts are a Political Fizzle)

    04/20/2018 7:13:33 AM PDT · by SeekAndFind · 43 replies
    New York Times ^ | 04/20/2018 | Paul Krugman
    Stop me if you’ve heard this before. A G.O.P. presidential candidate loses the popular vote, but somehow ends up in the White House anyway. Despite his dubious legitimacy, his allies in Congress take advantage of his election to ram through a huge tax cut that blows up the budget deficit while disproportionately benefiting the wealthy. While the big bucks go to the big incomes, however, the tax bill does throw some crumbs at the middle class, and Republicans try to sell the bill as a boon to working families. So far this account applies equally to George W. Bush and...
  • GOP to Call Democrats' Bluff: Who's Ready to Make Our Middle Class Tax Cuts Permanent?

    04/19/2018 9:08:26 AM PDT · by jazusamo · 27 replies
    Townhall.com ^ | April 19, 2018 | Guy Benson
    One of the Left's favorite anti-tax reform tactics involved loudly griping about how the law's corporate tax cuts were permanent (there's a good economic argument for that, of course), whereas the tax cuts for individuals and families are set to expire -- which is where the misleading "tax increase" talking point comes from. Those taxes would only increase if Congress allows them to, and based on recent history and the tough political dynamics, the likelihood of reversing all or most of the recently-enacted tax reductions is slim to none. Nevertheless, Democrats carried on as if Republicans were deliberately targeting...
  • Good News About Trump's Tax Cuts Keeps Rolling In, So Why Is Public Support Flagging?

    04/19/2018 8:23:34 AM PDT · by SeekAndFind · 27 replies
    IBD ^ | 04/19/2018
    There's a growing disconnect between the economic benefits spinning off the Republican tax cuts and the poll numbers. Is the public going sour of them? Or is this just more wishful thinking on the part of Democrats and the liberal press? Just the past week saw three more examples of the tax cuts' benefits. Item 1: Kroger announced that it was accelerating wage hikes, increasing the company's 401(k) match, enhancing benefits, and expanding employee discounts. All, it said, thanks to the Republican tax reforms. Kroger joins more than 500 other companies who've extended bonuses, wage hikes, or improved benefits to...