Amazon will pay $0 in federal income taxes for the second year in a row after its total profits doubled from $5.6 billion in 2018 to $11.2 billion in 2019. Amazon’s corporate tax filings reveal a federal income tax rebate of $129 million, or negative one percent because of unspecified tax credits and a tax […]
Are Republican Tax Cuts to Blame for Soaring Budget Deficits?…
It wasn’t said directly, of course, but the U.S. Treasury officially reported something Monday that, depending on your political party of choice, you’ve either long suspected would happen or refused to admit was possible: Last year’s big tax cut bill significantly increased the federal budget deficit. According to the Monthly Treasury Statement for fiscal 2018, […]
Economists Agree: Trump, Not Obama, Gets Credit for Economy…
Who deserves credit for the booming economy? This is not a petty argument. How voters answer the question could well determine whether Democrats retake the House of Representatives come November. Trump and Obama (and their admirers) are slugging it out, both claiming that it is their policies that have led to the ongoing economic expansion, […]
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 […]