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 […]
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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 […]
China About to Knock Out Petrodollar by Trading Oil in Yuan…
As one of the world’s top energy importers, China has successfully completed its fifth dry run in yuan-backed oil futures contract trading. The step has been already called Beijing’s challenge to the US dollar. According to Bloomberg, which cited a statement from the exchange, 149 members of Shanghai International Energy Exchange traded 647,930 lots in […]
Unfunded Liabilities of State Public Pensions Top $6 Trillion in 2017…
Unfunded liabilities of state public pension plans now tops $6 trillion, an increase of $433 billion from the previous year, according to a report from the American Legislative Exchange Council. “Unfunded liabilities of public pension plans continue to loom over state governments nationwide,” the report states. “Absent significant reforms, unfunded liabilities of state-administered pension plans […]
GOP Senators Hold Back Support for Tax Bill Over Child Tax Credit…
Two Republican senators indicated Thursday they were holding back support for the final $1.5 trillion GOP tax reform bill unless a larger child tax credit is included. The strongest statement came from the office of Florida Republican Sen. Marco Rubio. “Senator Rubio has consistently communicated to the Senate tax negotiators that his vote on final […]
Republicans Strike Deal on Tax Package…
Republican negotiators on Wednesday said they’ve managed to strike a deal on a $1.4 trillion tax-cut package and that they’ll be prepared to send it to President Trump’s desk next week. Senate Finance Committee Chairman Orrin G. Hatch told reporters that lawmakers have reached an agreement, as they work to reconcile different versions passed by […]
Fed Raises Interest Rates and Continues to Foresee Three Hikes in 2018…
The Federal Reserve on Wednesday lifted a key U.S. interest rate, but the central bank also struck a wait-and-see stance in light of persistently low inflation and a pending change in leadership. As widely expected, the Fed raised its benchmark federal funds rate by a quarter percentage point to between 1.25% and 1.5% — the […]
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Peak Monetary Goofiness: One Thousand People Own 40% of Bitcoin Market…
As in any asset class, large individual holders and large institutional holders can and do collude to manipulate price,’ Amen brother. That’s why we need regulators and oversight that is not ‘captured’ by those same very large institutions and wealthy political donors who are in such a good position to manipulate those markets. And they […]
November Payrolls Jump 228K, Beat Expectations But Wage Growth Disappoints…
In a continuation of the recent theme shown by the labor market, the BLS reported that November payrolls rose by a seasonally adjusted 228K, beating expectations of 200K, if lower than October’s downward revised 244K (from 261K) while September was revised up from +18,000 to +38,000. With these revisions, employment gains in September and October […]
The Richest 1 Percent Now Owns More of the Country’s Wealth Than at Any Time in Past 50 Years…
The wealthiest 1 percent of American households own 40 percent of the country’s wealth, according to a new paper by economist Edward N. Wolff. That share is higher than it has been at any point since at least 1962, according to Wolff’s data, which comes from the federal Survey of Consumer Finances. From 2013, the […]
Tax Breaks for Beer, Unborn Children Are Among Goodies in Republic Tax Bill…
As the House and Senate begin to reconcile their different tax bills, they will have to sort through many little-known provisions that appear designed more to achieve policy goals or reward key lawmakers than deliver tax savings. Here’s a look at some of the standouts, and their prospects for being including in the final legislation. […]
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CVS to Buy Aetna for $69B in a Deal That May Reshape the Health Industry…
CVS Health said on Sunday that it had agreed to buy Aetna for about $69 billion in a deal that would combine the drugstore giant with one of the biggest health insurers in the United States and has the potential to reshape the nation’s health care industry. The transaction, one of the largest of the […]
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