At that point thing starts to tail off. At least in my eye, the front end is attributed to the deregulation, the dramatic change of regulatory policy, the tax cuts and jobs act passed in 2017, but the tail off is due to him picking a trade war with china, a real slow down in the global economy, the china u. S. World trading system, and the question is whether people will theyize him for that or do support his trade policies . That is one record of interrupted of uninterrupted success. Ofid before we get to some the struggles, lets talk about successes. Deregulation. Is it almost undeniable there was success in deregulation, and can we put numbers on that . Douglas it is hard to put numbers on that. To give you a sense of the magnitude, major regulation in the United States costs more than 100 million for the private sector to comply with. The Obama Administration finalized a major regulation at an average rate of 1. 1 birthday every day for eight years. Some reported costs for complian
House Economic Advisor larry kudlow someone we know and love worked here a long time. Saying that the u. S. And china are getting close to an agreement. He described the talks being very constructive in his words saying the mood music is very nice that has not always been so in these things. He sded that the president is not ready to sign the deal just yet. Also getting word in china, vice premier lu will be holding principal level calls today we are up 60 points about all it is worth, i would say. Right now, hong kong confirming overnight that they have plunged into the first recession in a decade. That marks the second straight quarterly decline. The Financial Hub has been suffering from violent protests, the u. S. china trade war the week of rage continues to boil over. Well get over to matt bradley for more on that andrew, yes you are right. This has been six months of protests this started with the extra diction bill that started over the summer that has been drawn. You can see un
Their economic circumstances. States for what about the effects of the tax cuts and job ask what is passed at the end of 2017, they particularly were worried their state Income Tax Revenues would be more volatile and do it hard to predict what the results were going to be due to shifting payments over time and changes in federal deductibility. We encourage all the audience, both those in person and those who might be watching unlighted joint in the in the conversation via social media using the liveaturban as we have on the screen here we have a great panel today ready and willing to discuss all the issues at this time and in the near future. The Panel Discussion will be followed by a questionandanswer session, so you all should write down your questions or remember your questions and youll have an opportunity to ask them of the panelists at the end of the moderated discussion. I would like to introduce the moderator for todays panel, howard gleckman, a senior fellow at the urbanbrooki
Anywhere thats seen a cloudier and gloomier start the and gloomier start to the day, well start slowly but well start to get slowly but surely brighter. This occluded front coast, front across eastern coast, though, that cloud though, has brought that cloud some rain as well to some drizzly rain as well to some drizzly rain as well to some eastern coasts, as well as some eastern coasts, as well as some through the next some early fog through the next few hours. That should slowly continue and clear, continue to lift and clear, though it will probably stay quite across eastern quite gloomy across eastern coasts of scotland through much of day. But some sunny of the day. But some sunny spells particularly spells to come, particularly across through across Western Areas through the rest day its been rest of the day where its been a very sunny start to the day and in the sunshine it will feel fairly highs at fairly pleasant. Highs of at 1112, possibly 13 degrees, but in where weve got an i
Argument in a case involving the taxation of earnings de by americans from a foreign company. The ca focuses on an indiabased company with more than half of its ownership held by americans. It was brought forward by a plaintiff who objected to a clause in a 2017 change in tax law that would have required a onetime repatriation test. This is about two hours. The court squarely held us much just a few years following adoption of the amendment. The it is undpud that the petitioners realedothing froms are stock investment. They were taxed not because they have no income but because in 17hey happened to owe shares in a corporation carrying retained earnings on its bks this is a tax on the ownership of property and therefore must be apportioned. The government cannot identify a single thing congress could not tax income underts position that reazation is unnecessary. Thout realization there is no limiting principle. Excepting the governments position on income would make a hash of the curren