Corporate Earnings Repatriation

By Thomson Reuters – Re-Blogged From Newsmax

A loophole in the new U.S. tax law could allow multinational corporations like Apple Inc. to avoid paying billions of dollars in taxes on profits stashed overseas, according to experts.

Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates – 15.5 percent or 8 percent – that companies must pay on $2.6 trillion in profits they are holding abroad.

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Charity Gets Short-Lived Jolt From Tax Law

By Associated Press – Re-Blogged From Newsmax

In this season of giving, charity seems to be getting an extra jolt because next year the popular tax deduction for donations will lose a lot of its punch.

Traditionally generous Americans may have less incentive to give to charitable causes next year because of the newly minted tax law. The changes that will make it less advantageous for many people to donate to charity in 2018 may be sparking a year-end stream of fattened contributions in anticipation, charity executives and experts say.

Starting next year, the millions of relatively small donations from moderate-income people to mainstream charities could be sharply reduced, they say.

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The Ghosts of Crashes Past, Recent, and Future

By David Haggith – Re-Blogged From The Great Recession Blog

It’s not boasting to state plainly that you were right if you are equally direct about your errors. I have until now rightly predicted all of the stock market’s major downturns, starting with the one in 2007 that gave us the Great Recession. The first of those led to the writing of this blog. The next two were predicted and recorded as they happened on this blog, and the latest, whether it proves right or wrong, waits shortly in the future. Each time I made such a prediction here, I bet my blog on it. The blog is still here, but will it continue to be?

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1 of Every 5 Fed Government Employees Has a 6-Figure Salary

By Rachel del Guidice -Re-Blogged From Liberty Headlines

Federal employees cost tax payers $1 million every minute…

The U.S. government pays employees a total of about $1 million per minute, according to a watchdog group’s report on the sprawling federal bureaucracy.

OTB_MappingSwamp

An image from the report. (Photo: OpenTheBooks.com)

Looking at 78 large agencies, the nonprofit organization OpenTheBooks.com found that the average salary of a federal employee exceeds $100,000 and that roughly 1 in 5 of those on the government payroll has a six-figure salary.

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Trump’s Tax Cuts: The Good, The Bad, and the Inflationary

By Stefan Gleason – Re-Blogged From Money Metals Exchange

At last, tax reform is happening! Last week, President Donald Trump celebrated the passage of the most important legislation so far of his presidency.

The final bill falls far short of the “file on a postcard” promise of Trump’s campaign. It even falls short of the bill trotted out by Congressional Republicans just a few weeks ago. It is, nevertheless, the most significant tax overhaul in more than a decade.

Corporations and most individual taxpayers will see lower overall rates. That’s the good news.

Unfortunately, there is also some not so good news investors need to be aware of.

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Nearly 450K People Fled Blue States NY, Ill., Calif. in 2017

By Daily Caller News Foundation – Re-Blogged From Liberty Headlines

Debt crises, high taxes, increased crime driving residents away…

New York City photo

New York City/Photo by aurélien. (CC)

(Daily Caller News Foundation) Three Democratic-leaning states hemorrhaged hundreds of thousands of people in 2016 and 2017 as crime, high taxes and, in some cases, crummy weather had residents seeking greener pastures elsewhere.

The exodus of residents was most pronounced in New York, which saw about 190,000 people leave the state between July 1, 2016 and July 1, 2017, according to U.S. Census Bureau data released last week.

New York’s domestic out-migration during that time period was about the same as it was in the same time 2015 and 2016.

Since 2010, the state’s outflow of just over 1 million residents has exceeded that of every other state, both in absolute terms and as a share of population, according to the free-market think tank Empire Center.

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