(Markets Edition) One key issue to be looking at as Republicans try to overhaul our tax system: the expiration date of some these changes. Economist Diane Swonk joined us to discuss why it could be a problem if some of these potential tax cuts are just temporary. Afterwards, we'll talk with Phillip Swagel, a former Treasury Department official in the George W. Bush administration, about what Jerome Powell's potential nomination as Fed chair could mean for monetary policy. And finally, we'll look at the $1.2 billion Venezuela owes to creditors, which it could risk defaulting on.
(U.S. Edition) The House GOP is planning on releasing its tax bill soon, and in the plan we'll finally learn more about tax brackets and tax rates. But there's another part of the tax code that's currently very important to many low- and middle-income households: payroll taxes, also known FICA. On today's show, we'll look at what these taxes are and why economists say employers are passing on the costs of this tax to employees in the form of lower wages. Afterwards, we'll look at how the current Fed chair frontrunner, Jerome Powell, might approach future policy. Plus: A conversation with Julie Smolyansky, CEO of Lifeway Foods and an outspoken champion for survivors of sexual assault, about how our culture needs to change.
(Global Edition) From the BBC World Service … On podcasts, billboards and your social media pages, advertisements for meal-kit delivery businesses are nearly inescapable. Today, Berlin-based HelloFresh begins trading in Germany, but will investors gobble up shares after witnessing U.S. rival Blue Apron’s four-month struggle? Afterwards, the CEO of London’s biggest-listed gold miner, Randgold Resources, explains whether he sees the price of the precious metal letting up on the accelerator anytime soon. Then, the Bank of England is set to raise interest rates for the first time in a decade. A founding member of its monetary policy committee explains how much central banking has changed since she was in charge … and how much of an influence the U.S. Federal Reserve’s decision making has in Britain.
(Markets Edition) As you may have already heard, the GOP tax plan may cap the annual amount you can contribute to your 401(k). And that'll mean Republicans could start pushing for the expansion of Roth IRAs, where you opt to be taxed now, not later. Marketplace contributor Chris Farrell stopped by to explain the flaws in our current retirement-savings system, and why these new changes could just end up making things worse. Afterwards, we'll look at the blurry ways of classifying Google, Twitter and Facebook. Should they be considered newspapers, publishers, or just platforms for information? And finally, we'll discuss Facebook's (very successful) business model, and the value of its return on investment for advertisers.
(U.S. Edition) Republicans are delaying the release of their proposed tax bill today, but are expected to unveil it tomorrow. One part of the measure could include a "millionaire's tax," which may just be a way to make the bill more marketable to the uber wealthy — we'll explain why. Afterwards, we'll discuss the background of the suspect involved in yesterday's New York truck attack, which left eight people dead and 11 injured. Plus: Patrick Foulis, the New York bureau chief for The Economist, stopped by to discuss whether the $100 billion Saudi Aramco IPO will actually happen.
(Global Edition) From the BBC World Service … Malaysian officials are probing a data breach impacting 46 million mobile subscribers – that’s more people than the population of the entire country. Afterwards, global commodities from cobalt to zinc are seeing a broad rally. What’s behind the grind higher and can you expect to see steeper prices on consumer goods like electric car batteries and gold products? Then, we’ll take you to Iceland where an avalanche of visitors have descended upon the country. While tourism dollars have benefits, the sudden influx is putting a strain on some locals.