US Navy aircraft carrying 11 people crashes into sea off Japan
Dalveer Bhandari re-elected as the judge of ICJ
Supreme court hearing: Constitution gives Delhi govt no executive powers, says Centre
Scotland to be hit by double whammy of snow and 75mph winds
Tax plan in Congress will benefit wealthy
15 November 2017, 01:57 | Opal Carroll
Over 400 US Millionaires Urge US Congress to Avoid Cutting Taxes - Letter
More than 400 USA millionaires and billionaires reportedly plan to send a letter to Congress this week petitioning lawmakers not to cut their taxes. "Under no circumstance should tax reform lose revenue, especially to provide tax cuts to the wealthy and corporations", the letter added. "Everything in our tax system is meant to encourage investment".
The Tax Foundation had released an earlier report that focuses on the growth advantages of the tax reforms and is hence given more weight by the Republicans.
In a letter first reported by The Washington Post on Sunday, more than 400 of America's wealthiest citizens are asking congressional Republicans to reconsider tax reform legislation that would dramatically lower taxes for corporations and the rich. The proposed tax cuts mainly benefit passive owners of stock and property and offspring whose main accomplishment is choosing the right parents.
The proposal would also eliminate most individual tax deductions, a move that could result in some taxpayers seeing an increase in their total bill to the government while others see a decrease.
The three wealthiest people in the US-Bill Gates, Jeff Bezos, and Warren Buffett-now own more wealth than the entire bottom half of the American population combined, 160 million people or 63 million households, according to a report by the Program on Inequality at the Institute for Policy Studies, reported in The Nation.
The Democrats drew this analysis in an attempt to target the proposals of the House Republicans and portray them as a trick to lure the wealthier households.
Why that's easy: take away the deductions that middle class people use: So, if your employer gives you something to help you take care of aging parent or daycare for your child, those benefits will now be taxable income (that would offset $6.5 billion of the $200 billion). Between 2010 and 2016, the share of wealth controlled by the top one percent of earners steadily grew, according to Federal Reserve data, reaching a record-high of 38.6 percent in 2016.
When it comes to specific changes, the poll found that 46 percent of Americans oppose limiting the mortgage interest deduction, compared to 35 percent who support the change.
On Louis CK and the crumbling idea of the 'good man'
Louis has since addressed the matter and many of his vital relationships have fell by the side in the aftermath. Charlie Day was "appalled" to read the allegations, he said in a statement to the Los Angeles Times .
Global crude oil demand to ease on warm climate
A more widespread use of electric cars will not be enough to consign oil to the past, said IEA Executive Director Fatih Birol. That will keep prices down and help make the United States a net exporter of oil - in addition to gas - by the late 2020s.
Dallas prosecutor fired over spat with Uber driver
While he was on hand Tuesday to speak in favor of Warner , Schulte is not actually representing her at this time. A Dallas police spokesperson told Huffington Post , "We're still trying to gather information about this case".
IOS 11 update brings faster wireless charging
Apple has yet to release its AirPower charging pad; however, there are some third party options that work well with the iPhone. Qi chargers can support 15W of wireless charging, but it's not known whether Apple's iPhone lineup can do the same.
Walmart cashier's act of kindness helps calm older man
When the cashier gave the man his total, he took out a pocket full of change and began counting, according to the post . Bowlin said she was so touched by what she saw, she could only think one thing, "I want to be more like her".
Tyson Foods, Inc. (NYSE:TSN) Achieve New Highs
TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by Week Herald and is the sole property of of Week Herald. JPMorgan Chase & Co. cut shares of Tyson Foods from a buy rating to a sell rating in a research note on Wednesday, October 12th.
Just the Facts on JC Penney Company, Inc. (JCP)
The expected future growth in earnings per share ("EPS") is an incredibly important factor.in identifying an under-valued stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link .