With the signing of the Budget Bill, persons working at “an occupation which customarily and regularly receive tips” can deduct up to $25,000 of tip income provided their total income does not exceed $150,000. This deduction will be phased out beginning in 2028 unless extended by Congress. Trump made three promises to reduce taxes to […]
Part of Republican fables on how healthcare programs are being taken advantage of by fraudulent enrollments. They will not be happy until something serious occurs and many are afflicted. Center for Children and Families takes the lead on debunking the governments stories. “Factchecking The White House ‘Mythbuster’ on Medicaid Cuts and Immigrants,” Center For Children […]
– by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. There were almost no changes to any of the high frequency indicators in any timeframe last week. Despite that, below the surface, there has been a very gradual weakening of a number of important indicators in both the monthly and weekly data. […]
My Two Cents: If it is of any consequence, this Baby Boomer is not happy to have Trump as the President again. He was terrible the first time. And he is really working hard to be more terrible this time. The threats keep on coming. People are kidnapped after court hearings, no warrants, masked so […]
“LINCOLN, Neb. (KLKN) — A clinic in southwest Nebraska announced Wednesday that it is closing due to financial challenges, including anticipated Medicaid cuts. “McCook-based Community Hospital said it is shutting down its clinic in Curtis, a town of about 900 people. “The Curtis Medical Center has been in operation for more than 30 years.” But […]
– by New Deal democrat In addition to the jobs report, because this is Thursday we also got the latest jobless claims numbers. To wit, initial claims declined -4,000 to 233,000, and the four week moving average declined -3,750 to 241,500. With the typical one week delay, continuing claims were unchanged at 1.964 million: The more […]
– by New Deal democrat Even before the new Administration took office in Washington, my focus had been on whether the economy would have a “soft” or “hard” landing, i.e., recession. That has only intensified by the utter chaos of this Administration, particularly about tariffs. So my focus now is looking for “hard” vs.”soft” data indicating […]
David Zetland doing a review of Thomas Sowell’s book, “Basic Economics.” I had written Mr. Sowell once, maybe a decade ago. I was the recipient of his book. I was a third of the way through it when I was called away for a business trip which lasted a month. I found the book and […]
– by New Deal democrat As promised, let me parse the JOLTS survey for May, which was reported yesterday. As a quick refresher, this survey decomposes the employment market into openings, hires, quits, and layoffs. In 2024 the data were most consistent with a “soft landing,” but the actions of the new Administration, especially on trade, […]
Is there not one person in Congress who will be our leader who will tell Tr__P to shut up? Is it up to the constituency to do the dirty work every 4 years? I can only imagine where we would be it Tr__p succeeds. Trump attacks Fed again in open letter to Powell calling for […]