Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
James Kwak hit the nail(s) on the head about our corrupt tax system that mostly benefits the very rich. Here are three tax avoidance strategies that he brings to light — and says these three tax schemes top his list for the ones most in need of tax reform… 1) Ending the “step-up in basis”…
We’re not far into tax season, but numerous US states are already reporting a big increase in suspicious return filings, another reminder of the escalating problem that tax return fraud has become. Alabama, Utah, and Minnesota have all issued warnings in recent days, with most states directing blame for the sudden uptick at third-party tax…
WASHINGTON, Feb 5 (Reuters) – – The U.S. trade deficit in December widened sharply to its highest level since 2012 as imports rose despite a lower energy bill, which could see the fourth-quarter growth estimate revised down. The Commerce Department said on Thursday the trade deficit jumped 17.1 percent to $46.6 billion, the largest since…
And so after that epic 5.0% Q3 GDP print, driven largely by Obamacare, the payback begins, and the annualized Q4 GDP print, which came in at nearly half the previous quarter run rate, or 2.6%, is about to tumble by another ~0.5% following the just released trade data for December which saw a 17.1% surge…
It all makes perfect sense. Challenger announced this morning that layoffs in January soard 17.6% year-over-year with planned job cuts at the highest level in almost 2 years… Jobless claims in Shale states continues to trend higher as oil prices collapse… but initial jobless claims beat expectations – hovering near cycle lows – though did…
Employers cut 53,041 jobs in January as the energy industry slashed positions in the face of falling oil prices, Challenger, Gray & Christmas reported. Layoffs hit nearly 2-year high in Jan: Challenger – Yahoo Finance.
If you have been a regular reader of mine, you are probably familiar with several things about me: First, you know I have been a steadfast bull during the entire rise in the stock market. It isn’t that I am such a genius or especially lucky. I just would rather not guess when the bull…
By MARTIN CRUTSINGER AP Economics Writer5:38 a.m.Feb. 5, 2015 In this Jan. 12, 2015 photo, a workman moves along a commercial construction site in Philadelphia. The Labor Department reports its first estimate for productivity in the fourth quarter of 2014 on Thursday, Feb. 5, 2015. (AP Photo/Matt Rourke) WASHINGTON (AP) — U.S. worker productivity went…
More people sought unemployment benefits last week, but the number of applicants remained near historic lows in a positive sign for job growth. The Labor Department said Thursday that weekly applications rose 11,000 to a seasonally adjusted 278,000. The four-week average, a less volatile measure, fell 6,500 to 292,750. That average has plunged 15 percent…
U.S. productivity falls in fourth quarter; labor costs rise Workers prepare outgoing shipments at an Amazon Fulfillment Center, ahead of the Christmas rush, in Tracy, California, November 30, 2014. Credit: Reuters/Noah Berger WASHINGTON (Reuters) – U.S. nonfarm productivity braked more sharply than expected in the fourth quarter, while unit labor costs rebounded after falling…