Tag: Taxation

Tragedy in a Kips Bay Elevator

Weather: Showers may pop up early, but the sky should brighten as the day progresses. Cooler than yesterday, with highs in the low 80s. The weekend should be mostly dry and in the 70s. Alternate-side parking: In effect until Labor Day (Sept. 2). ImageCreditJefferson Siegel for The New York Times The residents knew the elevators […]

Read More

Want to Prevent a Recession, Mr. Trump? Stop Hurting the Economy

Here’s some free advice for President Trump and his economic advisers, who are frantically searching for measures to ward off a recession: Look in the mirror. The White House has reason to worry about the economic outlook. There are clear signs of weakness in recent economic data, and forecasters see an increasing chance that the […]

Read More

Trump Administration Considers Moves to Bolster Economy

White House officials have begun preparing options to help boost the American economy and prevent it from falling into a recession, including mulling a potential payroll tax cut and possibly reversing some of President Trump’s tariffs, according to people familiar with the discussions. Mr. Trump continues to insist the economy is “doing tremendously well” and […]

Read More

Trump Says U.S. Will Hit China With More Tariffs

WASHINGTON — President Trump escalated his trade war with China on Thursday, saying that the United States would impose a 10 percent tariff on an additional $300 billion worth of Chinese imports after China failed to keep its promise to buy more American agricultural products. Mr. Trump, who had agreed in June not to impose […]

Read More

Why Rate Cuts Don’t Help Much Anymore

Now that it has finally happened, don’t expect the Federal Reserve’s long-awaited rate cut to make all that much of a difference for the economy. In the weeks leading up to Wednesday’s decision to cut the benchmark Fed funds rate by 0.25 points to 2.25 percent, the stock market seemed to leap whenever Jerome H. […]

Read More

Wealth Tax and Free College Get Poll Support. Democrats Worry It Won’t Last.

There is a puzzle for the Democratic challengers hoping to unseat President Trump, and it is evident in public reaction to some of their breakout policy ideas. Polls show several of those ideas are quite popular with the electorate, including taxing the assets of very wealthy Americans and offering free college and government-paid health care […]

Read More

Is My Health Plan a Cadillac? Why Are We Comparing Health Insurance to Cars?

ImageAt an Independence Day parade this month in Washington.CreditErik S Lesser/EPA, via Shutterstock The House voted to repeal the Cadillac tax on Wednesday, aiming to make permanent what previous Congresses have merely postponed. The tax was a provision of the Affordable Care Act intended to lower health spending and reduce the federal deficit. But Congress […]

Read More

State and Local Taxes Are Worsening Inequality

Economic inequality is on the rise in Illinois, and the state government is part of the problem. Illinois taxes low-income families at much higher rates than high-income families, asking the most of those who have the least. Low-income households in Illinois pay about 14 cents in state and local taxes from every dollar of income, […]

Read More

Back-to-School Sales Tax ‘Holidays’ Lure Shoppers Despite Slim Savings

If you missed out on the blitz of deals offered early this week by many online retailers, don’t despair: There may be additional savings on the horizon, as more than a dozen states gear up for their annual summer sales tax “holidays.” This year, 16 states are offering back-to-school promotions, exempting many items, including clothing, […]

Read More

Beware. Other Nations Will Follow France With Their Own Digital Tax.

Last Thursday, the French Senate passed a digital services tax, which would impose an entirely new tax on large multinationals that provide digital services to consumers or users in France. Digital services include everything from providing a platform for selling goods and services online to targeting advertising based on user data, and the tax applies […]

Read More

22 States Considered Eliminating the ‘Tampon Tax’ This Year. Here’s What Happened.

Why are tampons taxed when Viagra isn’t? That’s the question at the heart of the push to repeal the so-called tampon tax, a catchy phrase that refers to state sales taxes applied to menstrual products, including pads and cups. Thirty-five states still tax the items, despite momentum to change that. Opponents of the tax argue […]

Read More

Fed Faces Tricky Choice Amid Looming Risks and Trump Pressure

WASHINGTON — Federal Reserve officials are expected to leave interest rates unchanged on Wednesday, but officials face a tough decision as economic data sends conflicting signals, trade tensions run high and political pressures mount. Overall growth and consumer spending remain strong a decade into the economic expansion, but job gains are slowing, the factory sector […]

Read More

Trump’s Tariffs Could Nullify Tax Cut, Clouding Economic Picture

WASHINGTON — President Trump’s tax cuts provided a temporary jolt to the United States economy by putting more money into taxpayers’ pockets. The tariffs that Mr. Trump has grown so fond of may have the opposite effect. Two new analyses show that the tariffs Mr. Trump is using to punish China, Mexico, Europe and other […]

Read More

Trump Bets the U.S. Economy on Tariffs

WASHINGTON — President Trump is upending the United States economy, and perhaps jeopardizing his re-election prospects, with an abrupt escalation of protectionist trade policies. Mr. Trump announced on Thursday that he would soon impose a 5 percent tariff on imports from Mexico, which could quickly grow to 25 percent, unless Mexican officials stop the flow […]

Read More

New York Can Tell Congress Lots About Trump’s Taxes

Congress will soon have access to a treasure trove of information about President Trump’s taxes. It just needs to ask New York. A new state law, which sailed through the New York Legislature and now awaits the signature of Gov. Andrew Cuomo, would allow the heads of Congress’s tax-writing committees to request a public official’s […]

Read More