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Thursday, 20 June 22:04 (GMT -05:00)



Business And Politics News

President Trump Wants to Change U.S. Tax System


President Trump has announced his decision to start reforming the American tax system. To be more specific, the President believes that the entire system is outdated and inefficient since it doesn’t correspond to contemporary needs. That’s why it needs to be reformed.

 

 

 

 
President Trump is planning to advocate the idea deep structural reforms as well as serious tax cuts and tax deductions. It is interesting to note that he announced his decision after the Congress decline his bill designed to cancel Obamacare, which is a healthcare insurance system, which was introduced by Barack Obama. It’s also interesting to note that President Trump promised to address healthcare first and taxes second when he was a candidate running for president.
 
What is the connection between canceling Obamacare and tax reforms?
 
Since President Trump had to withdraw his bill, the tax reforms now seem to have become the next big deal for him and his administration when it comes to internal affairs. The thing is, President Trump expected to make up for those tax deductions at the expense of the money saved on canceling Obamacare. But since the bill has failed so far, it’s unclear where he is actually going to take the money for the federal budget to make up for the losses occurring as the result of the planned tax cuts and deductions. Otherwise, the budget deficit is doomed to grow even higher.
 

 

At the same time, the U.S. Secretary of the Treasury is convinced that it will be much easier for the Congress to approve the tax bill. He expects this approval to be made by August 2017. Since January 2017, he has been coordinating Trump’s administration in their effort to prepare those tax reforms. The corresponding bill is about to be ready for the Congress to consider and approve it.

 

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US-China Trade Conflict May Trigger Another Global Financial Crisis

Beijing and Washington are one step away from escalating their trade conflict. The confrontation may harm the entire global economy. Some experts belive that the trade war may also trigger another global financial crisis. At this point, the parties seem to have come to a standstill, which is why the chances of the conflict escalating into a move severe trade war are still growing.

Publication date: 18 June 10:18 AM

WTO Lowers Global Trade Growth Forecast

 WTO experts are reported to have revised their forecast for the pace of global trade growth. The renewed forecast names figures below the previous ones - 2,6% against 3,7%. It's also interesting to note that the previous forecast for 2018 failed to match the actual figures.

 
Publication date: 19 May 02:58 AM

How to Protect Investment Capital in 2019?

Existing political and economic risks are pushing international investors into thinking about the security of their investment capital. Chasing big profits becomes secondary to this kind of security.

Publication date: 31 March 11:26 AM

EU Comes Up With Workaround to US Sanctions

The representatives of Germany, France, and the UK have registered a company to let it trade with Iran despite the US sanctions. The company still needs to be approved by 28 EU members.

Publication date: 31 March 02:33 AM

Beijing and Washington are getting ready for the final talks

Publication date: 17 February 08:58 AM

US-China Trade War Reaches Next Level

Washington and Beijing have announced a new round of talks. International experts say that the trade war is indeed going to a whole new level.
Publication date: 08 January 10:17 AM

Roma May Drag Moscow and Brussels Into Major Financial Crisis

International experts are trying to evaluate the situation in Italy. Some of them are convinced that the EU is not going to save the Italian populists. For those of you who don't know the details, in October, the European Commission rejected the draft budget devised by the new Italian government. This means that the draft budget needs to be improved in order to approved.
Publication date: 19 December 11:48 AM

USA Strikes Iran Again

As you probably know, a couple of weeks ago, the United States imposed a new round of sanctions on Iran. International experts say that the package includes 700 new points, including an embargo on the import of crude oil from Iran. It's interesting to note that the sanctions will touch upon some other states as well. Some temporary exception are said to have been maid for 8 partners of the USA.
Publication date: 29 November 12:04 PM

Trump Offers Putin to Compete for Multi-Polar World, Eggert Says

According to Konstantin Eggert, a Russian journalist writing for Deutsche Welle, Donald Trump is offering his Vladimir Putin to compete for a multi-polar world, but on American terms. In particular, he highlights the fact that many international experts started panicking when finding out that the USA had withdrawn from the missile control treaty with Russia. They say that this is the end of the strategic partnership between the United States ans Russia and the disruption of the nuclear arms control system created decades ago.

Publication date: 29 November 11:07 AM

The world is on the verge of another global race

International experts are commenting on the events taking place over the last few years. In particular, President and CEO of Atlantic Council Frederik Kempe believes that we are nearing another race between the world's biggest superpowers.
Publication date: 07 November 09:02 AM