Tens of thousands of federal employees earn more money than any U.S. governor, according to a new report that reveals some eye-popping stats on government spending for the federal workforce. The 40-page report, titled “Mapping the Swamp” and released by government watchdog group OpenTheBooks, focused on the “size, scope and power” of the federal government […]
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Happy New Year: S&P Just Did Something for the First Time Since 1992…
Pushing the S&P 500 to a new record high – which is notable, as Bloomberg reports this is the first time that the index hit a record high on the first day of trading since 1992. And those same investors bought tech stocks (and Biotech) with both hands and feet today as Nasdaq massively outperformed […]
China Offers Tax Incentives to Persuade U.S. Companies to Stay…
China said on Thursday that it would temporarily exempt foreign companies from paying tax on their earnings, a bid to keep American businesses from taking their profits out of China following Washington’s overhaul of the United States tax code. There is, however, a catch: To be eligible, foreign companies must invest those earnings in sectors […]
Report: Companies Pay Imported Workers with Citizenship Cards…
Many low-wage employers are importing cheap foreign labor by offering them immigration and citizenship instead of pay, so helping boost profits by sidelining blue-collar Americans. The companies can sideline Americans and hire lower-wage foreigners because of the federal citizenship-instead-of-pay EB-3 green card immigration program. Each year, the federal governments EB-3 program offers 5,000 green cards […]
Goldman Warns Tax Reform Will Slash Its Q4 Earnings by $5 Billion…
Goldman Sachs warned on Friday that it expects a $5 billion hit to Q4 earnings as a result of tax reform signed by President Donald Trump on Dec. 22, approximately two-thirds of which is due to the repatriation tax. As part of the GOP tax reform, a “repatriation tax” which allows companies to bring cash […]
Federal Workers Poised to Overtake Salaries of Senators, DC Gets Highest Pay Raise…
The top paychecks of federal workers are set to grow again next year to a six-figure number that rivals the $174,000 salaries of America’s 535 House and Senate members. Under a new federal order, salaries for most bureaucrats in the General Service will rise next year when the cap on top pay hits $164,000. And […]
How a Reporter Got a Corker of a Scoop About the GOP’s Tax Bill…
As the House and Senate moved toward approving the final version of the GOP tax bill, the International Business Times (IBT) revealed in an explosive story Friday that a loophole slipped into the bill in the final minutes will directly enrich President Donald Trump and his son-in-law Jared Kushner, as well as wealthy senators and […]
Report: Taxpayers Lost Billions as Hundreds of Drugs Misclassified Under Medicaid Drug Rebate Program…
Sen. Chuck Grassley of Iowa, chairman of the Senate Judiciary Committee, today released the following statement on a report released by the Health and Human Services (HHS) Office of Inspector General (OIG) that showed 885 drugs were potentially misclassified under the Center for Medicare and Medicaid Services’ (CMS) Medicaid Drug Rebate Program, resulting in billions […]
It’s Official: House Passes Tax Plan. Heads to Trump for Signing…
In a vote that almost exactly mirrored yesterday’s results, the House once again passed the final Trump tax bill – formerly known as the conference agreement on the Tax Cuts and Jobs Act – by a vote of 232-190. The only difference was that only one Republican voted against the bill during its second time […]
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U.S. Housing Starts Rose 3.3 Percent in November…
Construction of new homes increased 3.3 percent in November — with the gain largely coming from single-family houses being built at the strongest pace in more than a decade. The Commerce Department said Tuesday that builders broke ground on homes last month at a seasonally adjusted annual rate of 1.3 million units. The increase marks […]
U.S. Workers Win Lost Wages After Being Discriminated Against in Favor of Foreigners by CO Corp….
Attorney General Jeff Sessions’s Department of Justice (DOJ) settled a case with a Colorado corporation that imported foreign workers instead of hiring Americans, winning the affected U.S. workers the money they had lost without those jobs. In a settlement with Crop Production Services, Inc. out of Loveland, Colorado, American workers who were passed on by […]
Amended Tax Cuts and Jobs Act Would Lift GDP by 1.7%, Wages by 1.5%, Add 339,000 Jobs to Economy…
The newly amended Tax Cuts and Jobs Act is projected to lift gross domestic product by 1.7 percent, boost wages by 1.5 percent, and add 339,000 full-time jobs to the economy, according to an analysis from the Tax Foundation. The final compromised legislation, which will be voted on later this week, includes some slight changes […]
Dow Surges…Nasdaq Touches 7,000…
U.S. stocks closed at all-time highs on Monday as investors eagerly awaited a vote on a bill that would cut corporate taxes. A slew of corporate deals also helped lift sentiment. The Dow Jones industrial average jumped 140.46 points to 24,792.20, marking its 70th record close of the year. The 30-stock index is also up […]
This Drug Was Once Free. Now It Costs a WHOPPING $109,500 a Year…
For four decades, Don Anderson of Seattle has been taking the same drug to help control the temporary bouts of immobility and muscle weakness caused by a rare and frightening genetic illness called periodic paralysis. “It’s like putting a 50-pound pack on your back and standing up at the dinner table,” Anderson, 73, said. “It’s […]
Russia & China Will Engineer Bitcoin Apocalypse, Saxo Bank Predicts…
Moscow and Beijing are going to crack down on bitcoin, resulting in the cryptocurrency’s collapse next year, predicts Saxo Bank. The bank is famous for its ‘outrageous’ predictions published each December. Saxo predicts that in 2018, bitcoin will surge to $60,000 with a market capitalization exceeding $1 trillion. After that, Russia and China will join […]
“It’s Done”: Here Is What’s in the Final GOP Tax Bill…
Well – for now – that was an anti-climax…*RUBIO IS SAID TO BACK TAX BILL AFTER CHILD CREDIT TWEAKS: CNBC…*BRADY SAYS HE HAS ALL SIGNATURES HE NEEDS, “IT’S DONE”…But the market seems unimpressed by the ‘news’…
Here Is What Is In The Republicans’ Final Tax Bill…
On Wednesday, Congress Republicans were said to reach a deal on final tax legislation, clearing the way for final votes next week on a package that, if approved, would be sent to President Donald Trump to sign into law. While the formal language of the legislation has not been released, the following are the known […]
Disney to Buy 21st Century Fox Assets, Including Film Studio; Bob Iger Extends Through 2021…
The Disney boss’ biggest acquisition ever, valued at $52.4 billion, is set to create a global content powerhouse. Now it’s official. The Walt Disney Co. has agreed to acquire big parts of 21st Century Fox in an all-stock deal worth $52.4 billion, or approximately $66.1 billion when including debt, valuing shares of Fox at around […]
What’s Ripple & Why Is It Setting Cryptocurrency World on Fire?…
A relatively cheap digital currency called ripple used to be on the crypto market periphery. Ripple has made serious strides this week, having almost tripled in price in the last 48 hours and pushing litecoin aside by market cap value. The world’s fourth most valuable cryptocurrency was trading at 70 cents at 14:40 GMT on […]
Veterans Charity Raises Millions to Help Those Who’ve Served. But Telemarketers Are Pocketing Most of It…
The warning was prophetic. Maurice Levite sat in a modest office in Falls Church, Virginia, about a decade ago, and cautioned his longtime friend, Brian Arthur Hampton, against continuing to use telemarketers to fund his small veterans charity. With the help of his fundraisers-for-hire, Hampton had increased Circle of Friends for American Veterans’ income by […]
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