President Trump is putting together a proposal for a second round of tax cuts to fortify his reelection platform, but the effort is coming together only hesitatingly and faces uncertain buy-in even among Republicans. “It will be a very substantial tax cut for middle income folks who work so hard,” Trump said Thursday of his plans to create a middle-class tax cut, speaking during a retreat for House Republicans in Baltimore. He added that the tax cut would be “very, very inspirational” but did not mention any further details. A senior administration official told the Washington Examiner that the White House was looking at "Tax Cuts 2.0," with Tax Cuts 1.0 being the Tax Cuts and Jobs Act of 2017 that overhauled the corporate tax code and implemented temporary tax cuts for families. The official said new tax cuts “would be a key part” of what the administration would like to see from Congress in the coming months. Trump faces hurdles getting … [Read more...] about Trump moves haphazardly toward Tax Cuts 2.0
China is pulling back on demands that national security issues be included in trade talks, suggesting that the status of Chinese telecom company Huawei, which the U.S. has called a national security threat and placed on a blacklist, won't be a factor in the talks. Gary Hufbauer, a nonresident senior fellow at the Peterson Institute, said there was a general consensus at a recent Beijing forum hosted by the China Development Reform Foundation he attended that the Huawei issue had caused the talks with the U.S. to run aground. The foundation hosts officials from Beijing as well as economists and trade policy experts at events. “I think the Chinese have come to the conclusion that there will be no agreement on the national security but that possibly items that go in the trade bucket can be bit-by-bit resolved,” Hufbauer said. “I think the Chinese have decided that Huawei in the national security bucket and isn’t going to be quickly resolved.” The Wall Street … [Read more...] about Beijing backs away from including Huawei in trade talks
video NYC at risk for bankruptcy? Vested Chief Economist Milton Ezrati on U.S. trade negotiations with China, former White House chief economic adviser Gary Cohn's comments about U.S.-China trade talks, Minnesota resident's tax concerns and New York City's mounting budget concerns. Fewer people appear willing to buy pricey condos in New York City. Continue Reading Below According to new data from StreetEasy, more than 25 percent of new condos that have been built in New York City since 2013 remain unsold. In terms of units – of the 16,242 condos built since 2013, about 12,133 have sold. That means more than 4,100 have not. MORE FROM FOXBUSINESS.COM... T. BOONE PICKENS' SPRAWLING TEXAS RANCH LISTED FOR $250M BILLIONAIRE KEN GRIFFIN BUYS PALM BEACH PROPERTY WORTH $99M The median price of a condo in Manhattan is $2.3 million. A backlog of unsold units has not stopped construction. According to the report, 63 buildings with more than 5,600 units are listed, but … [Read more...] about NYC lux condo market stuck
Patrick Semansky/AP Facebook head of global policy development Matt Perault (from left), Amazon associate general counsel Nate Sutton, and Apple vice president for corporate law Kyle Andeer are sworn in before testifying to the House Judiciary subcommittee on July 16, 2019, in Washington. Loading... September 13, 2019 Two ways to read the story Quick Read Deep Read ( 3 Min. ) By Laurent Belsie Staff writer @lbelsie When new technologies allow a few companies to dominate an industry, Americans push back. Over the past century, regulators have taken on everyone from railroads and Standard Oil to Microsoft.Now, as a backlash grows against Google, Amazon, Facebook, and others – what some call a “techlash” – tech advocates are sounding a note of caution. There are legitimate concerns about the way Silicon Valley and other tech firms filter the news, invade privacy, or carelessly leave back doors open for … [Read more...] about Will backlash against Big Tech play into China’s hands?
Staff members of the Service Employees International Union, one of the nation's largest labor organizations, have accused it of union-busting and mounted a stepped-up campaign against it in the last week. The staffers have walked out, hung a banner from the union's Washington D.C. headquarters accusing it of hypocrisy, and attacked it on social media. "What happens when @SEIU management refuses to listen to their own employees? We get loud, we stand strong, we walk out! We refuse to tolerate SEIU’s hypocritical #unionbusting behavior," the workers tweeted Friday from their account @unionstaffSEIU. What happens when @SEIU management refuses to listen to their own employees? #unionbusting behavior. #1u pic.twitter.com/bzsIGoFmeD— Unionized staffers at SEIU HQ & NIPF (@UnionStaffSEIU) September 13, 2019 The SEIU is one of the most prominent activist unions and a major funder of Democrats and liberal activism, donating $41 million in the 2018 election cycle alone. … [Read more...] about SEIU accused of union-busting by its own staff