The GOP tax bills in the House and Senate have been portrayed as legislation intended to create a windfall for big business. But the bills have winners and losers by industry sector. We take a look at what industries come out ahead, and we give you context on the Bitcoin boom, the rumored $60 billion sale of Fox's entertainment assets to Disney and why Jerusalem's divided economy is at risk. Plus, the latest installment of “My Economy," where we hear from the publisher of a cultural magazine about southern Louisiana.
Those are two completely different subjects, one having to do with a very long-term American problem: the dearth of innovation, which could be remedied if more low-income people of color and women were encouraged as children to innovate, according to Stanford economics professor Raj Chetty. And the other problem, lost tax revenue, is more concrete. Forty billion dollars over the next 10 years — that’s what we’d lose if the House’s proposition to repeal the 20 percent minimum tax rate for corporations goes forward (the Senate’s version of the bill keeps it.) Those differences are being ironed out this week. Also this week, a government shutdown looms. In other news, we check in on how Ireland’s open border will be affected by Brexit, and we visit the National Portrait Gallery to see an exhibition on American workers.
We get down to the differences between the Senate and House versions of the tax bill, and debt created is one of those differences. Also included is the number of tax brackets, the alternative minimum tax and the amount of the child tax credit. Plus, Marketplace’s Dan Gorenstein is in Boston looking at how to woo investors to a working-class neighborhood in order to create a healthy, mixed-income community, and Kai Ryssdal figures out how to tell the difference between real and fake Nikes with Eddy Lu, CEO of GOAT, an online sneaker resale marketplace that specializes in authenticity.
You risk overheating it. If these cuts pass, and if they do, in fact, stimulate the already-growing economy, the Fed would inevitably have to pump the brakes and raise interest rates. We get into that scenario and hear listeners' ideas about what America would look like with this tax bill in place. Plus, who the Children's Health Insurance Program left stranded when Congress failed to extend its funding, a dispatch from coal country and the tale of how Charles Dickens wrote his hit Christmas story and ended up with almost no money.
Republicans calling for lower corporate tax rates often say that the cash corporations save will stimulate growth, but the truth is, they may already have the cash on hand to do that. And then there's the cautionary tale of what happened in Kansas, where five years ago Gov. Sam Brownback brokered deep cuts that stagnated growth and ballooned the state's deficit to $1 billion before the state legislature reversed them this year. In not-tax news, we discuss the bright future of Amazon's smart speaker assistant, Alexa, the uncertain future of Britain's economy as net migration declines more than it has in 50 years and a new transitional kindergarten program that's shaking up the status quo.
It’s a big moment for the tax world in Washington, and it’s even kind of ... glamorous. Nancy Marshall-Genzer reports from the extravagant centerpiece of a spate of wildly popular events where tax elites can mix, talk big tax thoughts and eat Chick Fil A. And, another day, another round of prominent sexual harassment allegations. We check in with Congresswoman Jackie Speier about the one place these claims don’t seem to be sticking: Capitol Hill. Plus, in a time where most kids seem to be glued to an iPad or a cell phone, teddy bears are standing by — and their manufacturers are trying to remain profitable — Build-a-Bear Workshop’s CEO Sharon Price John tells us.