On the background of numerous reports about the hurricanes that hit the United States and its neighbors, news from the economic sphere faded somewhat. However, this week there have been important developments that have weight for the future of the whole country.
Remember the most significant:
On Wednesday, September 6, Donald trump went to North Dakota, to the city of Mandan. Standing behind a podium located behind the high columns of a refinery Andeavor, the President said about the need to reform the tax laws.
What does he want to change?
- income tax: reduce the number of tax classes from seven to three, securing the rate of 10%, 25% and 35%;
- tax on profit of organizations and enterprises: to reduce the rate from 35% to 15%;
- property tax: to repeal the Federal tax, providing for the taxation of property transferred by inheritance.
Simply put, Donald trump wants to reduce tax rates for private entrepreneurs, owners of limited liability companies and partnerships, and to abolish the so-called death taxes.
To reform, trump urged residents of North Dakota, a state that during the presidential elections he received 62.96% of the vote, the «pressure» to the congressmen, so they soon began implementation of his plan.
Republicans must start the Tax Reform/Tax Cut legislation ASAP. Don’t wait until the end of September. Needed now more than ever. Hurry!!!
— Donald J. Trump (@realDonaldTrump) September 8, 2017
«Republicans should begin work on the legislation on tax reform/tax cuts. Don’t wait until the end of September. Now more than ever. Hurry up!».
Despite what the President says about the benefits of reform for small business owners with a small profit, critics believe that their introduction is much more beneficial to larger organizations, including the business Empire of trump.
For example, the introduction of tax incentives for owners of limited liability companies are very «at hand» The Trump Organization LLC and Kushner Companies LLC.
We want our companies to hire and grow in AMERICA, to raise wages for AMERICAN workers, and to help rebuild our AMERICAN cities and towns.
Posted by Donald J. Trump on Wednesday, September 6, 2017
Personal information about half of the U.S. population fell into the hands of hackers who hacked into the database of Equifax company specializing in credit monitoring.
In the hands of the attackers were names, dates of birth, social security numbers, addresses and in some cases credit card numbers and driver’s license more than 143 million customers, the vast majority of which are American. Among the victims were the citizens of the UK and Canada.
Equifax does not know the exact date when the attack occurred on the database, but suggests that it happened between mid-may and late June. And despite the fact that the leadership learned about it on 29 June, a public statement about the hacking was done only on Thursday, September 7.
The leaders of the Democratic party failed to agree with the President, who gave his consent to their proposal to extend for three months the financing activities of the Federal government and raising the ceiling (limit) public debt.
The deadline, which was supposed to occur this month, is now scheduled for December 15. The agreement was reached Wednesday after meeting Donald trump with Nancy Pelosi and Chuck Schumer – the leaders of the factions of the minority in the House of representatives and the Senate respectively.
The deal became known after the vast majority of the lower house voted for the allocation of $7.85 billion to help the victims of hurricane «Harvey» and the elimination of its consequences. It was one of the conditions of the agreement.
On Wednesday, Vice-President of the Federal reserve – Stanley Fischer – sent Donald Trump a letter in which he announced his intention to leave his post.
In his post he left to be little more than a month – October 13 will be the last working day for Fisher.
The resignation of the former «best head of the Central Bank in the world» (according to the magazines Global Finance and Euromoney) to be early, its decision he explained «personal reasons».
Appointed by Barack Obamain February 2014, Fisher came into his office, which was supposed to take until 2018. Then he would be able to re-occupy this post.
Who will take his place is still unknown, but in light of the premature departure of Stanley Fischer Donald trump will have a chance «to put their people» in place of the majority of the members of the Board of the Federal reserve system.
The fact that after the resignation of Fischer to the Board of governors will have four vacant seats (out of seven).
In 2018, the places will be even greater, because end of the term of Janet Yellen, fed Chairman.
JUST IN: Fed Vice Chairman Stanley Fischer submits resignation https://t.co/4yMuhdgMx0 pic.twitter.com/sVOci27KS8
— Bloomberg (@business) December 6, 2017
The excess of value imported into the country on exported goods, i.e. the trade deficit, grew up in the United States. In July, it was $43.7 billion (compared with $43.5 billion in June).
However, it’s better than the forecasts of economists: they had expected the indicator to rise to the level of $44.6 billion.
It is worth considering that in the same month decreased the percentage of exports by 0.3%, to $194,4 billion. USA have less to supply other countries in commodities such as medicines, mobile phones, jewelry.
But declined and imports – by 0.2%, to $238,1 billion. Foreign suppliers have less to bring to US their trucks and cars, their spare parts, crude oil, products for the home.
