Despite Record Individual Income Tax Collections, Federal Deficit Grows
The Treasury Department reported the federal government collected a record amount of individual income taxes so far in fiscal 2018, but ran a $683,965,000,000 deficit. ...
Economics
Home Sales In Southern California Down, as Buyers Are Priced Out of Market
Home sales in Southern California fell in June, dropping 11.8 percent since June 2017. “People can’t afford homes anymore,” said a real estate agent in Pasadena. ...
New Gilded Age Is Here — Mostly in Blue States
The United States has entered a new Gilded Age. Funny thing is, most of the “gilded few” in the top one percent live in blue states that cast their electoral votes...
Supreme Court Rules That States Can Force Online Retailers to Charge Sales Tax
In a 5-4 decision handed down on June 21, the Supreme Court cleared the way for states to force online retailers to charge all customers sales tax. ...
Increasing Rents Driving Middle Class Out of Silicon Valley
Rents in Silicon Valley are becoming too high for many people to afford. ...
Financial Analysts Predicting End of the Bull Market
Boom and bust is more a result of government-caused inflation than any action taken in the free market. ...
Gold Depository Bypassing Federal Reserve Opens in Texas
The Texas Bullion Depository, a gold-backed bank that would allow depositors to store precious metals and bypass the Federal Reserve System, opened in Austin on July 13. ...
Seattle Repeals Job-killing Head Tax One Month After Passing It
Just one month after Seattle voted unanimously to pass a head tax on businesses such as Starbucks and Amazon, the City Council repealed it by a vote of 7-2, noting that...
High-income Earners Leaving High-tax States
High-income earners in high-tax states such as New York, Illinois, and California are migrating to low-tax states such as Texas, Florida, Nevada, and Georgia. ...
U.S. Asks OPEC to Boost Production to Help Hold Down Oil Prices
The United States has asked OPEC producers to increase oil production by about one million barrels a day after Trump complained about “artificially very high” oil prices. ...
Nearly Half of San Francisco Bay Area Residents Plan to Leave
Forty-six percent of Bay Area residents surveyed said they are likely to move out of the area in the next few years, and 61 percent of those plan to leave California....
U.S. Fiscal Outlook “Not Good,” Says Goldman Sachs’ Chief Economist
Financial expert John Mauldin believes that actions the Federal Reserve will likely take to deal with inflation from government overspending will soon cause a massive recession. by Bob Adelmann ...
Economists Predict 800,000 People Will Leave New York and California Because of High Taxes
Economists Arthur Laffer and Stephen Moore are predicting that the new tax bill and high state taxes will cause 800,000 people to leave California and New York over the next three...
Boost to World Bank and China is “Departure” From Trump’s Vision
Despite President Donald Trump's “America First” campaign promises to rein in globalism in favor of Americanism, analysts on both sides say new reforms being pushed at the World Bank represent a...
Trump Walks Back Pro-TPP Remarks, Touts Bilateral Deals
After suggesting last week that the U.S. government would seek to rejoin the sovereignty-shredding Trans-Pacific Partnership (TPP), President Donald Trump took to social media on April 18 to slam the controversial...