Podcasts about Tax Foundation

The Tax Foundation is an international research think tank based in Washington, D.C. that collects data and publishes research studies on U.S. tax policies at both the federal and state levels.This week, the FAIRtax Guys look at a Tax Foundation article from October of 2023 comparing the income tax to consumption taxes like the FAIRtax.

Trump's 2025 tariffs will hit nearly three-quarters of US food imports, raising prices on products that are often difficult or impossible to produce domestically. Senator Hawley has proposed a rebate program to return some of the revenue to households—but would it actually help? Kyle Hulehan is joined by Alex Durante, Senior Economist at the Tax Foundation, to unpack how these tariffs work, the economic trade-offs of a rebate, and why repealing tariffs may be the most effective solution.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

They're popular, highly visible, and marketed as tax relief—but research shows sales tax holidays are inefficient, create compliance headaches, and often miss the mark for the taxpayers they're meant to help. Kyle Hulehan is joined by Katherine Loughead, Senior Policy Analyst and Research Manager at the Tax Foundation. Together, they break down why these policies persist—and what better alternatives might look like. Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

They're popular, highly visible, and marketed as tax relief—but research shows sales tax holidays are inefficient, create compliance headaches, and often miss the mark for the taxpayers they're meant to help. Kyle Hulehan is joined by Katherine Loughead, Senior Policy Analyst and Research Manager at the Tax Foundation. Together, they break down why these policies persist—and what better alternatives might look like. Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Send us a textAlan Cole of the Tax Foundation discusses the international tax provisions in the One Big Beautiful Bill Act and what may be next for negotiations on a global tax framework.  For more on international tax and the OBBBA, check out our previous episode, "International Tax in the Reconciliation Bill: House Versus Senate."For more coverage, read the following in Tax Notes:Tax Pros Hope for Regs to Resolve One-Month Deferral QuandaryWhat's in a Word? Tax Pros Puzzle Over FTC AllocationsAnalysis: The OBBBA's International Revenue Raisers, Losers, and FixesFollow us on X:Jonathan Curry: @jtcurry005David Stewart: @TaxStewTax Notes: @TaxNotes**CreditsHost: David D. StewartExecutive Producers: Jasper B. Smith, Paige JonesProducers: Jordan Parrish, Peyton RhodesAudio Engineers: Jordan Parrish, Peyton Rhodes

Starting Aug. 1, new food tariffs will hit U.S. shoppers as part of the Trump administration's trade policy. The Tax Foundation reports that many import taxes will rise, affecting food from major suppliers like Mexico, Canada, Brazil, the EU and China. Products most impacted include baked goods, coffee, fish and beer. With limited U.S. alternatives, families should expect higher grocery bills. Subscribe to our newsletter to stay informed with the latest news from a leading Black-owned & controlled media company: https://aurn.com/newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

(The Center Square) – President Donald Trump's tariffs could cancel out the economic benefits of the GOP's tax cuts, according to a new analysis from the Tax Foundation. "Our analysis finds the current U.S.-imposed and scheduled tariffs threaten to offset much of the economic benefits of the tax cuts, while falling short of paying for them," according to a report from the national nonprofit. The tax cuts included in the One Big Beautiful Bill Act are expected to cost about $4 trillion over the next decade, or about $3 trillion factoring in economic growth. At the same time, Trump's tariffs are expected to drag on the U.S. economy.Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxxFull story: https://www.thecentersquare.com/national/article_eaed6a01-7d70-41ba-9ddf-b5f4ac95b2cb.html

The One Big Beautiful Bill is now law—but what does it actually do? In this episode, we break down the new tax law's key provisions, including who benefits, who doesn't, and what it means for the economy, tax certainty, and the federal deficit. Kyle Hulehan is joined by Daniel Bunn, President and CEO of Tax Foundation, and Garrett Watson, Director of Policy Analysis. Together, they dive into the bill's temporary vs. permanent changes, its international implications, and how it sets the stage for future tax policy debates.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

The One Big Beautiful Bill is now law—but what does it actually do? In this episode, we break down the new tax law's key provisions, including who benefits, who doesn't, and what it means for the economy, tax certainty, and the federal deficit. Kyle Hulehan is joined by Daniel Bunn, President and CEO of Tax Foundation, and Garrett Watson, Director of Policy Analysis. Together, they dive into the bill's temporary vs. permanent changes, its international implications, and how it sets the stage for future tax policy debates.Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

In this week's Friday Five, Sarah gives her first impressions on what agents need to know about the 2025 Budget Reconciliation Bill. Learn more about what's changed for Medicare, Medicaid, ACA, and more!   Get Connected:

On this episode of Future of Freedom, host Scot Bertram is joined by two guests with different viewpoints about taxing endowments of American colleges and universities. First on the show is Henry Olsen, senior fellow at the Ethics and Public Policy Center and host of the Beyond the Polls with Henry Olsen podcast. Later, we hear from Alex Muresianu, Senior Policy Analyst at the Tax Foundation. You can find Henry on X @HenryOlsenEPPC and Alex at @ahardtospell.

(The Center Square) – As Congress weighs the “big, beautiful bill,” a proposed hike to the state and local tax deduction cap is drawing fire for favoring taxpayers in high-tax states, like Illinois. Taxpayers who itemize can deduct up to $10,000 in state and local taxes from their federal taxes—a cap set by the 2017 tax law. A provision in the legislation the U.S. Senate sent back over to the House Tuesday would raise that cap to $40,000 for most people, but phase it out for those earning over $500,000. “This is considered to be specifically a subsidy for high-income taxpayers in high-tax states because there are some lower-tax states where even relatively high earners aren't paying $10,000 in state and local taxes due to low property and income taxes,” said Tax Foundation analyst Katherine Loughead.

July 1 marks the first day several new laws go into effect. That includes raising the tax on retail marijuana sales. Tax on recreational marijuana products is now 15 percent plus sales tax, jumping from 10 percent prior. That makes it one of the highest cannabis taxes in the country, according to data compiled by the Tax Foundation. This increase is coming as the state is starting to hand out its first licenses to business owners.Jen Randolph Reise is the founder of North Star Cannabis Consulting. Erin Walloch is the CEO of CannaJoyMN, a south Minneapolis store that sells marijuana seeds and hemp-derived products and is in the process of obtaining a micro-business dispensary license. Both Reise and Walloch joined Minnesota Now to talk about their perspectives on the tax increase.

Roger welcomes Dominic Pino, the Thomas L. Rhodes journalism fellow at the National Review Institute, for a wide-ranging conversation on why both political parties are drifting away from free-market principles—and what that means for the United States' economic future.They discuss the growing embrace of industrial policy, the return of tariffs and subsidies, and the bipartisan belief that government should play a bigger role in steering the economy. Pino breaks down why this approach has historically failed, why politicians are often poor at picking winners and losers, and why market-driven growth remains the most effective path to prosperity. They also touch on entitlement spending, the misunderstood nature of trade deficits, and how public skepticism of economic expertise is shaping policy debates.Dominic Pino hosts the “Econception” podcast and is a former William F. Buckley Jr. Fellow in Political Journalism and a National Review editorial intern. He also was a 2020 Political Studies Fellow with the Hertog Foundation and has held internships with ALEC, the Heritage Foundation and the Tax Foundation. He holds both a bachelor's and master's degree in economics from George Mason University. While at Mason, he served as an opinion editor of Fourth Estate, the university's student paper.The Liberty + Leadership Podcast is hosted by TFAS president Roger Ream and produced by Podville Media. If you have a comment or question for the show, please email us at podcast@TFAS.org. To support TFAS and its mission, please visit TFAS.org/support.Support the show

  The one big beautiful bill is going through some major changes as it is making its way through the Senate.  We speak to Scott Hodge, president emeritus of the Tax Foundation and tax fellow with Arnold Ventures about  the risk of inflation and ongoing price hikes that congress needs to address in the bill.

Tune in here to this Wednesday’s edition of the Brett Winterble Show with Jason Lewis filling in! Jason kicks off the program by welcoming former Tax Foundation president and current Arnold Ventures tax policy fellow, Scott Hodge, to shed light on a little-known but massive issue in the American economy: untaxed nonprofit enterprises. Jason highlights how some nonprofits, including hospitals and universities, operate like large corporations—raking in billions in revenue while avoiding federal income taxes. With energy and conviction, he echoes Hodge’s findings that the nonprofit sector now represents a staggering $3.3 trillion—about 15% of the U.S. GDP—yet largely escapes taxation. The conversation focuses on how these organizations, often paying executives seven-figure salaries, compete with small businesses that do pay taxes. Jason argues that it’s time to differentiate between genuine charities and commercial giants masquerading as nonprofits. He praises the study’s fairness in preserving support for true charitable work, while calling for reform that would generate revenue without burdening working Americans. Listen here for all of this and more on The Brett Winterble Show! For more from Brett Winterble check out his YouTube channel. See omnystudio.com/listener for privacy information.

On the latest episode of Making Cents of Money, join economist Chasse Rehwinkel as he discusses tariffs' impact on our history and how we can brace for the impacts of changing tariff policies in the present and future Show Notes Previous episodes with Chasse Rehwinkel: • Ep. 79, What Happens When a Bank Fails?: https://blogs.uofi.uillinois.edu/view/7550/1732000561 • Ep. 47, Community Reinvestment Act: https://blogs.uofi.uillinois.edu/view/7550/793516993 • Ep. 14, Short-selling: https://blogs.uofi.uillinois.edu/view/7550/433822269 • Ep. 2, Banked or Unbanked – Choosing Financial Services for You: https://blogs.uofi.uillinois.edu/view/7550/465787932 Recent Data and Reports • Budget Lab at Yale University. (2025, April 15). State of U.S. Tariffs: April 15, 2025. https://budgetlab.yale.edu/research/state-us-tariffs-april-15-2025 • Budget Lab at Yale University. (2025, April). Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Tariffs Enacted in 2025 Through April 2. https://budgetlab.yale.edu/research/where-we-stand-fiscal-economic-and-distributional-effects-all-us-tariffs-enacted-2025-through-april • Deloitte Insights. (2025, April). US tariffs impact economy. https://www2.deloitte.com/us/en/insights/economy/spotlight/united-states-tariffs-impact-economy.html • Tax Foundation. (2025, April). Trump Tariffs: The Economic Impact of the Trump Trade War. https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/ News Articles and Analysis • Cameron, H. (2025, April). 'Shark Tank' inventor tests whether people will pay more for "made in USA". Newsweek. https://www.newsweek.com/shark-tank-inventor-american-made-tariff-experiment-2064087 • LaRocco, L.A. (2025, April 12). Trump tariffs won't lead supply chains back to U.S., companies will go low-tariff globe-hopping: CNBC survey. CNBC. https://www.cnbc.com/2025/04/14/tariffs-wont-bring-manufacturing-back-to-us-supply-chain-survey.html Historical Context and Academic References • Duster, C. (2025, March 6). Did tariffs contribute to the Great Depression? Here's what to know. NPR. https://www.npr.org/2025/03/06/nx-s1-5318076/tariffs-great-depression-explainer • National Association of Manufacturers. (2025, April). Tariffs: 1930 Versus 2025. https://nam.org/tariffs-1930-versus-2015-33709/ • U.S. Department of State, Office of the Historian. (n.d.). Protectionism in the Interwar Period. https://history.state.gov/milestones/1921-1936/protectionism • U.S. Senate (n.d.). The senate passes the Smoot-Hawley tariff. https://www.senate.gov/artandhistory/history/minute/Senate_Passes_Smoot_Hawley_Tariff.htm Government Documents • White House. (2025, April). Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits. https://www.whitehouse.gov/presidential-actions/2025/04/regulating-imports-with-a-reciprocal-tariff-to-rectify-trade-practices-that-contribute-to-large-and-persistent-annual-united-states-goods-trade-deficits/ • White House. (2025, April). Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security. https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security/

Fields questions about Social Security, military parade Rep. Mike Lawler, whose district includes Philipstown, held a town hall on June 8 at Mahopac High School, the third in a series of four he has promised constituents. After being introduced by Kevin Byrne, the Putnam County executive, Lawler spent two hours fielding questions about the One Big Beautiful Bill Act, which passed the U.S. House, 215-214, with Lawler's support and is being amended by the Senate. In addition to tax cuts and an increase to the cap on deductions for state and local taxes, the legislation contains changes to programs like Medicaid and food stamps that are expected to lead to a loss of benefits for some enrollees. Lawler also fielded questions about Social Security, cuts to foreign aid and the estimated $45 million price tag for a military parade being held in Washington, D.C., on Saturday (June 14), which is President Donald Trump's birthday. Below are some of Lawler's statements and a review of statistics he cited. "We [New York] spend 83 percent more on Medicaid than the average of the other 49 states." According to data from KFF (formerly the Kaiser Family Foundation), Medicaid spending in New York totaled just under $98 billion in 2023, second only to California. The spending was 83.77 percent more than the average for the other 49 states. However, the average does not account for each state's population. Wyoming, for example, has 588,000 residents, compared to 20 million in New York. It also means using costs in states that, unlike New York, opted out of a provision in the Affordable Care Act to expand Medicaid so that more people qualify; the federal government pays 90 percent of the additional cost. Alternative methods to measure Medicaid spending among the states include per-capita or per-enrollee. According to the Centers for Medicare and Medicaid Services, New York ranked fourth in per-capita Medicaid spending in 2022 ($11,203), behind North Dakota, Minnesota and Pennsylvania. The national average was $8,919. New York placed third among states in Medicaid spending per enrollee in 2021 ($9,688), according to KFF. Virginia and Minnesota had the highest per-enrollee spending. "If [the Tax Cut and Jobs Act] expired, it would have been about a $4,000 increase in taxes on the average family in our district." The Tax Cut and Jobs Act, passed in 2017 during the first Trump administration, expires this year. If it is not extended by Congress, taxes will increase in the 17th Congressional District, on average, by $3,530, according to the Tax Foundation, a think tank founded in 1937 that analyzes tax policy. Drilling down to specific income levels with a calculator created by the Tax Foundation (dub.sh/tax-calculator), annual taxes would increase by $933 for a single person without dependents who earns $50,000 annually, and by $2,622 for an individual earning $100,000. Taxes would increase by $5,091 annually for a married couple with two children and a household income of $150,000; the same couple earning $250,000 would owe $9,320 more. Those scenarios omit 401(k) contributions and other deductions, but the calculator can adjust for those, as well as other household sizes. "There are over 3 million people in this country who are able-bodied adults, without dependents, who refuse to work." Lawler is referring to Medicaid coverage. A provision in the House's version of the One Big Beautiful Bill requires that able-bodied recipients between ages 19 and 64 who don't have dependents work at least 80 hours monthly or be participating in a "qualifying activity," such as job training. The work requirement would increase the ranks of the uninsured by 4.8 million people by 2034, according to the Congressional Budget Office. Although the CBO did not specify why people would lose coverage, Republicans have equated the figure with people who chose not to work. According to the KFF, 64 percent of the 26.1 million adults between ages 19 and 64 receiving Medic...

Larry talks to Scott Hodge President Emeritus of the Tax Foundation about the tax implications of the Big Beautiful Bill and the twitter beef between Riley Gaines and Olympic gold medalist Simone Biles over transgenders in women's sports in hour 2. See omnystudio.com/listener for privacy information.

Scott Hodge President Emeritus of the Tax Foundation joins Larry to talk about some of the tax proposals that have been written into the Big Beautiful Bill and what that could mean for the average tax-paying American. See omnystudio.com/listener for privacy information.

(The Center Square) – Despite the White House's assertions that the One Big Beautiful Bill Act will not add to the federal debt or deficit, four independent budget watchdogs agree that debt growth will accelerate and reach over $50 trillion by 2034, if the policy megabill becomes law. As emphasized Friday by the Peter G. Peterson Foundation, the Budget Lab at Yale predicts $52.3 trillion, the Congressional Budget Office predicts $52.4 trillion, the Tax Foundation predicts $52.8 trillion, and the Penn Wharton Budget Model predicts $56.3 trillion as the national debt number a decade from now.Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxxFull story: https://www.thecentersquare.com/national/article_ed152061-1ef3-4f3c-906d-dca9690ee42c.html

From generous tax breaks to costly trade-offs, the House GOP's One, Big, Beautiful Bill has a little of everything. It's a sweeping attempt to extend key provisions of the 2017 Tax Cuts and Jobs Act before they expire in 2026—but what's actually in it?Kyle Hulehan and Erica York are joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to break down the good, the bad, and the ugly: who benefits, what it could mean for the economy, and how it might reshape your tax bill.Learn more: Budget Reconciliation Tracker: https://taxfoundation.org/research/all/federal/trump-tax-cuts-2025-budget-reconciliation/“Big Beautiful Bill” House GOP Tax Plan: Preliminary Details and Analysis: https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/The Good, the Bad, and the Ugly in the One, Big, Beautiful Bill: https://taxfoundation.org/blog/one-big-beautiful-bill-pros-cons/House Tax Package Could Double Economic Growth Impact by Prioritizing Permanence for TCJA Business Provisions: https://taxfoundation.org/blog/house-tax-plan-economic-growth-impact-business-tax-permanent/A More Generous SALT Deduction Cap in the Big, Beautiful Bill Would Cost Revenue and Primarily Benefit High Earners: https://taxfoundation.org/blog/salt-deduction-cap-increase-proposal-analysis/House “One Big Beautiful Bill” Riddled with Temporary Tax Policy: https://taxfoundation.org/blog/house-one-big-beautiful-bill-temporary-tax-policy/Current Trump Tariffs Threaten to Offset Benefits of Promised Tax Cuts: https://taxfoundation.org/blog/trump-tariffs-tax-cuts/House GOP's Approach to the IRA Clean Energy Tax Credits: Five Things to Know: https://taxfoundation.org/blog/ira-clean-energy-tax-credits-house-gop-ways-means-bill/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

From generous tax breaks to costly trade-offs, the House GOP's One, Big, Beautiful Bill has a little of everything. It's a sweeping attempt to extend key provisions of the 2017 Tax Cuts and Jobs Act before they expire in 2026—but what's actually in it?Kyle Hulehan and Erica York are joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to break down the good, the bad, and the ugly: who benefits, what it could mean for the economy, and how it might reshape your tax bill.Learn more: Budget Reconciliation Tracker: https://taxfoundation.org/research/all/federal/trump-tax-cuts-2025-budget-reconciliation/“Big Beautiful Bill” House GOP Tax Plan: Preliminary Details and Analysis: https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/The Good, the Bad, and the Ugly in the One, Big, Beautiful Bill: https://taxfoundation.org/blog/one-big-beautiful-bill-pros-cons/House Tax Package Could Double Economic Growth Impact by Prioritizing Permanence for TCJA Business Provisions: https://taxfoundation.org/blog/house-tax-plan-economic-growth-impact-business-tax-permanent/A More Generous SALT Deduction Cap in the Big, Beautiful Bill Would Cost Revenue and Primarily Benefit High Earners: https://taxfoundation.org/blog/salt-deduction-cap-increase-proposal-analysis/House “One Big Beautiful Bill” Riddled with Temporary Tax Policy: https://taxfoundation.org/blog/house-one-big-beautiful-bill-temporary-tax-policy/Current Trump Tariffs Threaten to Offset Benefits of Promised Tax Cuts: https://taxfoundation.org/blog/trump-tariffs-tax-cuts/House GOP's Approach to the IRA Clean Energy Tax Credits: Five Things to Know: https://taxfoundation.org/blog/ira-clean-energy-tax-credits-house-gop-ways-means-bill/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Daniel Bunn is the president and CEO of the Tax Foundation. In Daniel's first appearance on the show, he discusses the history of tax models, the threat that tariffs make to the US economy, where we currently stand with budget reconciliation, how he would fix the tax code if he was president, and much more. Check out the transcript for this week's episode, now with links. Recorded on May 2nd, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Follow Daniel on X: @DanielBunn Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps: (00:00:00) – Intro (00:01:01) – Daniel's Background and the Tax Foundation (00:03:35) – Tax Foundation's Model (00:7:38) – History of Tax Models (00:14:26) – Fiscal Condition of the United States (00:19:24) – Tariffs and Revenue (00:35:55) – Budget Resolution (00:45:43) – Daniel's Proposed Solutions (00:49:10) – Outro

We break down the House GOP's One, Big, Beautiful Bill—a sweeping tax package designed to extend key parts of the 2017 Tax Cuts and Jobs Act before they expire in 2026.Kyle Hulehan is joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to unpack what's actually in the bill, who benefits the most, and how it could impact the economy, federal revenue, and your taxes.Links: https://taxfoundation.org/blog/house-one-big-beautiful-bill-temporary-tax-policy/https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/https://taxfoundation.org/blog/house-tax-plan-economic-growth-impact-business-tax-permanent/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

We break down the House GOP's One, Big, Beautiful Bill—a sweeping tax package designed to extend key parts of the 2017 Tax Cuts and Jobs Act before they expire in 2026.Kyle Hulehan is joined by Garett Watson, Director of Policy Analysis at the Tax Foundation, to unpack what's actually in the bill, who benefits the most, and how it could impact the economy, federal revenue, and your taxes.Links: https://taxfoundation.org/blog/house-one-big-beautiful-bill-temporary-tax-policy/https://taxfoundation.org/research/all/federal/big-beautiful-bill-house-gop-tax-plan/https://taxfoundation.org/blog/house-tax-plan-economic-growth-impact-business-tax-permanent/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

In addition to the actual taxes collected, the income/payroll tax system imposes an almost unimaginable additional burden on American taxpayers. This week, AFFT president Steve Hayes highlights a Tax Foundation study that shows how bad the current tax system really is.

What happens when the country's most important retirement program runs out of money? Social Security faces a funding crisis by 2035. We unpack how the system works, why it's in trouble, and what fixes could keep it afloat.Kyle Hulehan and Erica York are joined by Alex Durante, Senior Economist at the Tax Foundation. Together, they break down the trade-offs behind today's biggest Social Security reform ideas. Links: https://taxfoundation.org/blog/how-the-payroll-tax-base-has-changed-over-time/https://taxfoundation.org/research/all/federal/social-security-reform-options/https://taxfoundation.org/blog/medicare-social-security-tax-spending-deficits/https://taxfoundation.org/research/all/federal/us-debt-budget-taxes-spending-social-security-medicare/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

What happens when the country's most important retirement program runs out of money? Social Security faces a funding crisis by 2035. We unpack how the system works, why it's in trouble, and what fixes could keep it afloat.Kyle Hulehan and Erica York are joined by Alex Durante, Senior Economist at the Tax Foundation. Together, they break down the trade-offs behind today's biggest Social Security reform ideas. Links: https://taxfoundation.org/blog/how-the-payroll-tax-base-has-changed-over-time/https://taxfoundation.org/research/all/federal/social-security-reform-options/https://taxfoundation.org/blog/medicare-social-security-tax-spending-deficits/https://taxfoundation.org/research/all/federal/us-debt-budget-taxes-spending-social-security-medicare/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

This week on Facing the Future the guest is Alex Durante, senior economist at the Tax Foundation. We'll discuss the economic effects of President Trump's tariffs and whether Republicans in Congress can find a way to extend about $4 trillion worth of expiring tax cuts without adding it all to the debt.

Emisión del jueves 17 de abril de 2025 De acuerdo con la Tax Foundation, los nuevos aranceles de hasta 245% para algunos productos chinos representarán un impuesto adicional promedio de casi 1,300 dólares por hogar estadounidense en 2025. La misma organización internacional, con sede en Washington, estima que el PIB de EEUU se reducirá en 1.0%, el capital fijo en 0.7% y se perderán 740,000 empleos. "Deja que tus oídos te abran los ojos." #RuizHealyTimes #AbriendoLaConversación www.ruizhealytimes.com www.radioformula.mx

Could AI-generated fake receipts upend expense reporting as we know it? In this eye-opening episode, Blake and David demonstrate live how easy it's becoming to create convincing financial documents with AI—from receipts to audit opinions. They break down why Trump's new "reciprocal" tariffs aren't what they seem (complete with meaningless Greek symbols) and how they're already triggering market turbulence. You'll also learn why the federal government is ending paper checks by September, potentially saving hundreds of millions while reducing fraud by 16x. Plus, discover why Signal might be the most secure messaging option for your sensitive client communications. Whether you're concerned about fraud detection, economic impacts on your clients, or evolving professional standards, this episode delivers practical insights for navigating today's rapidly changing landscape.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casBluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)Chapters(02:49) - Implications of AI-Generated Receipts (05:23) - Sponsor Acknowledgements and Livestream Interaction (06:15) - Deep Dive into Trump's Tariffs (09:27) - Economic Impact of Tariffs (22:57) - Creating Fake Receipts with AI (37:01) - Signal App and Secure Communication for Accountants (42:22) - Corporate Espionage and Fraud Cases (47:23) - Generating a Fake Audit Report with AI (52:19) - Discussing Douglas Edelman's Tax Evasion (56:33) - Deloitte Layoffs Due to Federal Crackdown (01:00:14) - Mandating Electronic Federal Tax Transactions (01:10:08) - IRS and ICE Coordination on Unauthorized Immigrants (01:13:34) - Alternative Pathways to Becoming a CPA (01:20:24) - Critique of Big Four Accounting Firms (01:28:01) - Upcoming Events and New Content on Earmark  Show NotesChatGPT's new image generator is really good at faking receiptshttps://techcrunch.com/2025/03/31/chatgpts-new-image-generator-is-really-good-at-faking-receipts/ Markets Swing Wildly After Trump Holds His Ground on Tariff Planhttps://www.wsj.com/livecoverage/stock-market-trump-tariffs-trade-war-04-07-25 Trump's Reciprocal Tariff Calculations Are Nonsense, Will Punish Mutually Beneficial Tradehttps://taxfoundation.org/blog/trump-reciprocal-tariffs-calculations/ Stellantis to temporarily lay off 900 US workers as tariffs bitehttps://www.reuters.com/business/autos-transportation/stellantis-says-will-temporarily-lay-off-900-us-workers-following-tariff-2025-04-03 Modernizing Payments To and From America's Bank Accounthttps://www.whitehouse.gov/presidential-actions/2025/03/modernizing-payments-to-and-from-americas-bank-account/ The Trump Administration Accidentally Texted Me Its War Planshttps://www.theatlantic.com/politics/archive/2025/03/trump-administration-accidentally-texted-me-its-war-plans/682151/ @parkerconrad Tweet: Rippling sued @Deel today … https://x.com/parkerconrad/status/1901615179718406276 Scoop: Fashion startup accuses founder of misconduct, after raising $534 millionhttps://www.axios.com/2025/03/31/scoop-caastle-founder-hunsicker-misconduct​The $7 Billion Defense Contractor Who Became One of America's Biggest Alleged Tax Cheatshttps://www.wsj.com/us-news/law/douglas-edelman-alleged-tax-fraud-who-ee65ea61 Deloitte is planning layoffs after a federal crackdown on consulting contractshttps://finance.yahoo.com/news/deloitte-planning-layoffs-federal-crackdown-063253531.html DOGE's private contract crackdown has eliminated more than 120 Deloitte contracts—more than twice the amount of any other consultancyhttps://fortune.com/2025/04/03/doge-private-contract-crackdown-deloitte-consultancies/ Probationary IRS workers will be back to work before Tax Day: Trial Balancehttps://www.cfo.com/news/probationary-irs-workers-will-be-back-to-work-before-tax-day-trial-balance/744419/IRS sharing info with ICE would put illegal immigrants between 'rock and a hard place': experthttps://www.yahoo.com/news/irs-sharing-ice-put-illegal-130026839.html Georgia, Indiana join growing band of states to pass CPA licensure lawshttps://www.cfodive.com/news/georgia-joins-growing-band-states-pass-cpa-licensure-laws-accounting-talent-shortage/744384/ I Quit my Big 4 Accounting Job to Fry Chicken and Will Never Go Back …https://www.businessinsider.com/quit-big-four-accounting-fry-chicken-never-go-back-2025-4 Local firm slashes staff starting salarieshttps://www.accountingtoday.com/opinion/local-firm-slashes-staff-starting-salariesNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a fa...

Congressional Hearing: The CEOs of NPR and PBS faced tough questioning from Congress, reminiscent of previous hearings involving Ivy League presidents on anti-Semitism. Catherine Maher, the CEO of NPR, was particularly criticized for her past tweets and statements, which were scrutinized by Brandon Gill, a freshman House member from Texas. Key Exchanges: Maher was questioned about tweets related to white supremacy, reparations, and looting. She often claimed not to recall the context or denied the implications of her tweets. Gill highlighted contradictions in Maher's statements, pointing out her previous calls for reparations and her views on looting. Maher's Background: Maher has a history of working with various organizations, including the Council on Foreign Relations, UNICEF, the National Democratic Institute, the World Bank, Access Now, and the Wikimedia Foundation. Her testimony was seen as evasive and out of touch, drawing parallels to past controversial testimonies by other leaders. Filibuster Record: We also mention Senator Cory Booker's record-breaking filibuster, surpassing Strom Thurmond's previous record. Senator Ted Cruz shared his experience and advice on filibustering, including practical tips like wearing comfortable shoes and drinking minimal water. Tariffs and Economic Policy: We discuss President Trump's use of tariffs as leverage and economic policy, highlighting the immediate and long-term impacts on the economy. The Tax Foundation's analysis predicts significant revenue from tariffs but also potential negative effects on GDP and household income. Please Hit Subscribe to this podcast Right Now. Also Please Subscribe to the 47 Morning Update with Ben Ferguson and the Ben Ferguson Show Podcast Wherever You get You're Podcasts. Thanks for Listening #seanhannity #hannity #marklevin #levin #charliekirk #megynkelly #tucker #tuckercarlson #glennbeck #benshapiro #shapiro #trump #sexton #bucksexton#rushlimbaugh #limbaugh #whitehouse #senate #congress #thehouse #democrats#republicans #conservative #senator #congressman #congressmen #congresswoman #capitol #president #vicepresident #POTUS #presidentoftheunitedstatesofamerica#SCOTUS #Supremecourt #DonaldTrump #PresidentDonaldTrump #DT #TedCruz #Benferguson #Verdict #justicecorrupted #UnwokeHowtoDefeatCulturalMarxisminAmericaYouTube: https://www.youtube.com/@VerdictwithTedCruzSee omnystudio.com/listener for privacy information.

What are the biggest tax stories shaping policy today—and what do they mean for you? In our 100th episode, we break down the five biggest tax stories, from the global tax deal to the looming expiration of the Tax Cuts and Jobs Act. Kyle Hulehan and Erica York are joined by Daniel Bunn, President and CEO of  Tax Foundation, and Garrett Watson, Director of Policy Analysis. We also dive into the Inflation Reduction Act, the CHIPS and Science Act, the rise of flat taxes in states, and the role of tariffs in tax policy.  Links: https://taxfoundation.org/podcast/all/understanding-property-taxes/https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/https://taxfoundation.org/blog/global-tax-agreement/https://taxfoundation.org/blog/flat-tax-state-income-tax-reform/https://taxfoundation.org/blog/inflation-reduction-act-ira-credits-repeal-reform/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

Taxes on wages make up the bulk of federal revenue every year. Where does that money go, and who decides how much you should pay?The process is extremely complicated - and deeply political - which is why it's important for everyday taxpayers to understand how the people they elected choose to spend the money voters give out of their paychecks every year. We talk with tax policy expert Beverly Moran, a Paulus fellow at Boston College Law School and professor emerita at Vanderbilt, about how budget reconciliation works: where Congress decides where it will cut taxes, and how it will make up for those cuts. We also talk about how those decisionsaffect the vast majority of taxpayers, who earn most of their wealth from salary or wages... and how it looks different for the wealthiest Americans. Find Beverly's research on the impact of the 2017 TCJA here.  Listen to our episodes on the history of the income tax in the United States, and how the tax return process works. We used a number of sources in this episode. Here are some, in order of appearance: How much revenue has the US  government collected this year? from the US Treasury Department. Reconciliation explainer from the Congressional Budget Office.Budget Reconciliation: Tracking the 2025 Trump Tax Cuts from the Tax Foundation. What are itemized deductions and who claims them? from the Tax Policy Center. How did the TCJA change taxes of families with children? from the Tax Policy Center. The 2017 Tax Law Was Skewed to the Rich, Expensive, and Failed to Deliver on Its Promises from the Center on Budget and Policy Priorities. Lifting the SALT Cap: Estimated Budgetary Effects, 2024 and Beyond from Penn Wharton Budget Model at the University of Pennsylvania Wharton School of Business. Differences between the traditional CPI and Chained CPI from the Congressional Budget Office. Republicans say Medicaid cuts won't happen. But does their budget work without them? from NPR. Republicans want to lower taxes. The hard part is choosing what to cut. from the New York Times.  Want our new "Civics is my cup of tea" mug? CLICK HERE TO DONATE AND GET YOURS!CLICK HERE: Visit our website to see all of our episodes, donate to the podcast, sign up for our newsletter, get free educational materials, and more! To see Civics 101 in book form, check out A User's Guide to Democracy: How America Works by Hannah McCarthy and Nick Capodice, featuring illustrations by Tom Toro.Check out our other weekly NHPR podcast, Outside/In - we think you'll love it!

This week we talk about tariffs, consumer confidence, and trade wars.We also discuss inflation, GDP, and uncertainty.Recommended Book: A Brief History of Intelligence by Max S. BennettTranscriptOn January 20, 2025, mere hours after being sworn into his second term in office as President of the United States, Donald Trump announced new 25% tariffs on most incoming goods from Canada and Mexico, accusing the two allies of failing to halt the flow of drugs and illegal migrants into the US. These tariffs would go into effect on February 1, he said, and they would be in addition to existing tariffs that were already in effect for specific import categories.On that same day, he also speculated that he might impose a universal tariff on all imports, saying that he believed all countries, allies or not, were taking advantage of the US, and he didn't like that.Less than a week later, Trump announced that he would impose 25% tariffs on all good from Colombia, with immediate effect, and would double that tariff to 50% within a week. This appears to have been a punishment for the Colombian government's decision to turn back planes full of immigrants the US government deported and sent their way, without approval from the intended recipient of those deported people, the Colombian government. There was a minor tiff between these governments, but the White House declared victory on the matter later that night, saying the tariffs would be held in reserve, implying they could come back at any time if their demands are not met.An executive order implementing the threatened 25% tariffs on Canada and Mexico was signed on February 1, and a new 10% tariff on China went into effect the same day. Countermeasures were threatened by everyone involved, and after Trump published a social media post saying there would probably be economic pain for a while, his government agreed to a 30 day pause on tariffs for Mexico and Canada, while also threatening new tariffs against the European Union; another long-time US ally.The new 10% tariff on Chinese imports went into effect on February 4, and China retaliated with its own counter-tariffs on US goods, including things like farm machinery and energy products. It also implemented new restrictions on the export of rare earth minerals to the US—a category of raw materials everyone is scrambling to secure, as they're vital for the production of batteries and other fundamental technologies—and they launched a new antimonopoly investigation into Google, which deals with some Chinese companies.On February 10, Trump reimposed a 25% tariff on all foreign steel and aluminum; a move that made US metal companies happy, but essentially all other US companies very unhappy, and in mid-February he threatened even more, broad, and vague tariffs on basically everyone, saying he's doing what he's doing in order to force companies to move manufacturing infrastructure back to the US, after decades of offshoring everything.At the end of February, Trump said the delayed tariffs on Canada and Mexico would go into effect, as planned, on March 4, alongside those new 10% tariffs on China. On that day, Canada implemented its own counter-tariffs on the US to the tune of 25% on about $155 billion of US goods imported by the country.Canada and Mexico send about 80% of their exports to the US market, so their economies are expected to be hit hard by this trade war. China, in contrast, only sends about 15% of its exports to the US, so the impact will be more tempered.These three countries, though, are the US's largest trading partners, collectively accounting for over 40% of US imports and exports. In addition to buying a lot of US goods, they also export the majority of things like oil, beer, copper wire, chocolate, and other goods that the US consumes; and the cost of tariffs are almost always passed on to the end-consumer, so higher tariffs on these sorts of goods mean raised prices on a lot of stuff across the economy.On March 6, after a lot of back-and-forth with US automakers and with the Mexican and Canadian governments, a lot of the tariffs placed on goods from these countries were suspended, the US government denying that their withdrawal had anything to do with the US market, which was suffering in response to this wave of economic disruptions—though many tariffs were kept in place, and Trump said the US would still impose tariffs on all steel and aluminum imports beginning on March 12.On the 12th, the EU and Canada announced a new wave of retaliatory tariffs against the US, though the European side said they would hold off on their implementation of these tariffs, waiting till April 1 to see what happens. The next day, Trump threatened a 200% charge on alcoholic products from the EU in response to their planned 50% tariffs on US whiskey and other products within their borders.At the moment, as of mid-March 2025, a lot of these tariffs are still speculative, as it's generally understood, from Trump's bombastic approach to deal-making and his previous backtracking from these sorts of threats, that many of these tariffs could disappear, announced solely to provide leverage against those Trump wants to squeeze for more concessions and what he considers to be more favorable trade terms. Some of them could become concrete reality, though, and part of the issue here is that it's nearly impossible to know which is which, because there also seems to be a larger effort to rewire the US and global economies by this administration—and that effort, plus the uncertainty caused by tariffs and similar actions, are leading to some pretty severe market upsets within the US, and resultantly around the world, as well.And that's what I'd like to talk about today: the impacts of these tariffs and other actions by this administration, so far, and what might happen next, based on currently available numbers and analysis.—Economies are ridiculously complex systems, and it's impossible to say with 100% certainty what caused what, and to what degree things would be different had some other path been taken by those in control of various regulatory and economic levers.That said, the nonpartisan Tax Foundation has estimated that just those first batch of proposed tariffs by the US government, not including impacts from foreign retaliations, which could be substantial, will reduce US GDP by about 0.4% and reduce total hours worked by the equivalent of 309,000 full-time jobs; so a lot less output, and a lot less overall productivity.That's on top of the estimated 0.2% long-term decrease in US GDP caused by the first Trump administration's tariffs, which were maintained by the subsequent Biden administration.These existing tariffs raised prices in the US and reduced both output and employment, which means the boom the US economy saw under the Biden administration might have been even boomier, had those tariffs been dropped. But now they're more or less locked in, and these new tariffs will probably amplify their effect, near-term and long-term.On top of that, the constant threats and pullbacks and seemingly off-the-cuff decisions to implement what amounts to all sorts of huge-scale taxes on a frenetic array of goods, including luxuries, but also some very fundamental things, like the metals we use to build and manufacture basically everything, is stoking uncertainty throughout the US and global economies.That uncertainty has wide-ranging impacts, but one of the most direct consequences is that consumer sentiment in the US has nose-dived, as ordinary people worry about the combined impacts of tariffs, cuts to government programs, layoffs across government agencies, and new restrictions on immigration, which even ignoring the human element of such things can cause all sorts of issues across industries that rely on immigrant workers to stay afloat.In mid-March of this year, US consumer sentiment hit 57.9, down from 64.7 in February. That's the lowest its been since November of 2022, it's down 27% from a year earlier, and it's a lot lower than economist predictions for this month, which were set at 63.2.Consumer sentiment tells us how people are feeling about the economy, about their potential to earn, and about where things are going. This influences how people spend, how they consume, and that in turn helps determine how the overall economy will go in the coming years, as people will be more likely to hunker down and save, taking as few risks as possible and making fewer purchases if they believe things will be rough; which in some cases can become a self-fulfilling prophecy, because those behaviors tend to shrink the economy, which leads to less output, fewer investments being made, more layoffs, and so on. That means a drop in consumer sentiment can make things bad even if they would otherwise be good, but if they're bad already, they can become even worse because folks stop doing things that would improve the economy, out of self-preservation.And that impact can be just as pronounced when things are weird and wobbly, rather than outright bad, as seems to be the case in the US at the moment.There's no firm evidence that the US economy is destined for a recession at this point, but the Russell 2000 index, which is made up of smaller companies than indexes like the S&P 500, and which is thus more prone to on-the-ground variables than its larger index kin, has dropped more than 16% since November, when it hit a new high on optimism about what the new Trump administration might do for businesses and the economy.The S&P 500 also collapsed, though about half as much, and it rallied somewhat last week as investors bought the dip, scooping up stocks at lower prices following that drop. But there's a lot of speculation that this might be a so-called dead cat bounce recovery—a moment in which a market seems to be recovering from a drop, but where it's actually just bouncing up a little before heading back downward—and even this index, which is packed with corporations that are less susceptible to brief market wobbles than those in the Russell, might be heading for another downswing in the coming weeks, based on a lot of the economic numbers used to predict such things, at the moment.One such metric is interest in alternative assets like gold, and the price of gold hit a new high last Friday, surpassing $3,000 per ounce for the first time ever.That's not something you tend to see when markets are healthy and people expect them to do well; if they are healthy and expected to surge rather than collapse, people tend to put their money in the market, not in shiny metals. But the shiny metals bet seems to be appealing right now, which hints at an even broader suspicion of the US economy than even that consumer sentiment and those bad market figures anticipate.And the market figures have been bad. In just 3 weeks, beginning on February 19, the S&P alone lost more than $5 trillion in value.The Atlanta Fed, which uses a fairly reliable model to predict future US GDP numbers, was predicting a healthy nearly 4% increase for the US's GDP for the first quarter of 2025 back in late-January, early-February, but that prediction plummeted from positive 4% to negative 2.4% by early March.That figure could still change, as it's informed by data that don't all arrive at the same time, but it's still a staggering drop, and it reflects the impact of all these tariffs, but also all the destruction of government programs and agencies, the mass firings, and of course the uncertainty caused by all of these things in aggregate, alongside the impacts of said uncertainty on everyone at all scales, from trade partners to US-based small businesses to individual consumers.So few people and institutions are happy about what's happening right now, but it does look like, in the immediate future, at least, there are some beneficiaries of all this tumult.Markets in China are flourishing, especially Hong Kong's Hang Seng index, which is up more than 20% since Trump's inauguration on January 20. And Europe's market, which has struggled with stasis for years now, is up more than 4% over that same period.Uncertainty about markets, but also military alliances, especially NATO, have pushed Germany—which has struggled since Russia invaded Ukraine, when their energy markets were utterly scrambled, which in turn hobbled their massive manufacturing base—Germany has unleashed a huge amount of government funds on their economy, and that big uptick in spending has helped basically the whole EU market grow. The German government has traditionally been tight-pocketed, but a declaration by the incoming Chancellor that they would do whatever it takes to both defend themselves and boost their economic outlook in the face of unreliable backing from their long-time ally, the US, has bolstered enthusiasm and optimism throughout the region, bringing EU nations closer together, increasing spending on all sorts of fundamentals, and bringing them closer to the Canadian government, as well.The Chinese government has recently indicated they'll be injecting a bunch of money and other types of support in their economy, as well, which creates a stark contrast with the US government, which seems to be refocusing on pulling government resources from across society and the economy, and spending mostly on tax cuts for the wealthiest people and biggest companies, instead.The US government's efforts to go America first, and not do anyone, even its longest-term, most reliable allies, any favors, or even trade in what might be considered a balanced way, thus seems to be scrambling US markets while simultaneously stoking those that are being cut off, unifying aspects of the rest of the world in antagonism against the US, while also providing them with incentive to reinvest in their own markets; which could be good for them long-term, making them less reliant on the US in all sorts of ways, but which seems pretty bad for the US in particular, short-term, and casts the US-dominated global order into disarray for the immediate future, with all sorts of consequences, economic and otherwise.The degree to which this impacts Trump's approval ratings has yet to be seen, as while his approval is collapsing, especially on the economy, right now, a lot of the most serious economic impacts are expected to fall hard on regions that most enthusiastically voted for him, and Republican talking points have already pivoted toward messaging that implies suffering for a while is good and patriotic.That message might succeed and keep people on side even as their investments collapse and tariff-driven inflation hits their bottom-lines, or it might not. But it seems like the administration is ramping up for a version of austerity that doesn't actually reduce the deficit, but instead takes a bunch of money from programs and investments that helped these areas, and moves it to other stuff that mostly helps fund tax cuts for wealthy allies of the administration—and that could come back to bite them, come election season.All of this is also happening in parallel to the many political maneuverings of the administration and its opposition, though, and just recently the Republican-held congress was able to pass a funding bill, moving a lot more authority and control to the White House; so whatever the short-term approval numbers show, none of this seems to be having much of a negative impact on Trump's control of government. That could change, though, over the course of the next year, leading into 2026's midterm election, when the makeup of congress could be influenced by these and similar decisions.Show Noteshttps://www.reuters.com/markets/us/futures-rise-after-volatile-week-consumer-data-tap-2025-03-14/https://www.wsj.com/economy/consumers/consumer-confidence-march-2025-drops-trump-trade-e7e0964dhttps://www.axios.com/2025/03/15/economic-indicators-recession-riskhttps://www.cnn.com/2025/03/14/investing/gold-price-today-3000-ounce-intl/index.htmlhttps://www.cnbc.com/2025/03/14/us-stock-market-loses-5-trillion-in-value-in-three-weeks.htmlhttps://www.nytimes.com/2025/03/14/business/russell-2000-bear-market.htmlhttps://www.atlantafed.org/cqer/research/gdpnowhttps://www.nytimes.com/2025/03/14/us/politics/stock-market-correction-trump-tariffs.htmlhttps://www.nfib.com/wp-content/uploads/2025/03/NFIB-SBET-Report-Feb.-2025.pdfhttps://www.nytimes.com/2025/03/14/your-money/car-shopping-trump-tariffs-cfpb.htmlhttps://www.nytimes.com/2025/03/16/business/trump-sp-500-stocks-europe-china.htmlhttps://archive.ph/GNPRfhttps://www.realclearpolling.com/polls/approval/donald-trump/issues/economyhttps://www.nytimes.com/interactive/2025/03/15/business/economy/tariffs-trump-maps-voters.htmlhttps://www.nytimes.com/2025/03/15/us/politics/trump-spending-bill-government-shutdown.htmlhttps://www.wsj.com/finance/stocks/investing-stocks-risk-strategies-trump-policies-c4a5d3d9https://www.wsj.com/finance/currencies/trump-trade-tariffs-us-dollar-value-814cbe37https://www.wsj.com/livecoverage/stock-market-today-dow-nasdaq-sp500-03-17-2025https://www.politico.com/news/2025/03/16/wall-street-hoped-scott-bessent-would-keep-trump-in-check-he-had-other-ideas-00231771https://www.businessinsider.com/wall-street-mergers-acquisitions-ipos-hiring-slumps-trump-tariffs-2025-3https://www.politico.com/news/2025/03/14/trump-trade-wars-consumer-sentiment-00230833https://archive.ph/fUKPshttps://www.nytimes.com/2025/03/13/business/economy/trump-tariff-timeline.htmlhttps://www.nytimes.com/2025/03/14/business/energy-environment/trump-energy-oil-gas.htmlhttps://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/ This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

President Trump is using tariffs as a cornerstone of his tax policy. We chat with Alex Durante of the Tax Foundation to better understand how tariffs work and their potential impact to the bison industry. We also catch up with Jud Seaman of Quality Auction Services and Brennin Jack of the Jack Auction group to learn how bison markets are moving in the U.S. and Canada. 

Trump says tariffs will make America rich, but cause a 'little disturbance' along the way. Erica York, VP of Federal Tax Policy at Tax Foundation, argues tariffs will cause long-term pain in the form of lower output, higher taxes, & lower incomes. " It's not like there's a magic reversal button after 2 years where things get great, those negative effects persist."Hosted by Kyla Scanlon.The content of the video is for general and informational purposes only. All views presented in this show reflect the opinions of the guest and the host. You should not take a mention of any asset, be it cryptocurrency or a publicly traded security as a recommendation to buy, sell or hold that cryptocurrency or security. Guests and hosts are not affiliated with or endorsed by Public Holdings or its subsidiaries. You should make your own financial and investment decisions or consult respective professionals. Full disclosures are in the channel description. Learn more at Public.com/disclosures.Past performance is not a guarantee of future results. There is a possibility of loss with any investment. Historical or hypothetical performance results, if mentioned, are presented for illustrative purposes only. Do not infer or assume that any securities, sectors or markets described in the videos were or will be profitable. Any statements of future expectations and other forward-looking statements are strictly based on the current views, opinion, or assumptions of the person presenting them, and should not be taken as an indicator of performance nor should be relied upon as an investment advice.

Tax expert and Senior Policy Analyst for the Tax Foundation, Manish Bhatt, joins the guys to talk about the complications, functions, and frustrations surrounding the property tax.To read about the REINS Act, check out this article from OCPAthink.org, "Effort to reduce state regulation gets bipartisan support"

How should states approach the unique challenges and opportunities presented by sports betting?  In this episode, Adam Hoffer, Director of Excise Tax Policy at the Tax Foundation, joins Kyle Hulehan to unpack the intricacies of sports betting tax policy during one of the biggest betting events of the year—Super Bowl 59.https://taxfoundation.org/research/all/state/sports-betting-tax-revenue/https://taxfoundation.org/data/all/state/sports-betting-taxes-by-state-2024/Support the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

This week we talk about tax hikes, free trade, and the madman theory of negotiation.We also discuss EVs, Canada, and economic competition.Recommended Book: How Sanctions Work by Narges Bajoghli, Vali Nasr, Djavad Salehi-Isfahani, and Ali VaezTranscriptOn January 20, 2025, the 45th President of the United States, Donald Trump, was inaugurated as the 47th President of the US following a hard-fought election that he ultimately won by only a little bit in terms of the popular vote—49.8% to 48.3%—but he won the electoral vote by a substantial margin: 312 to opponent Kamala Harris' 226.Trump is the oldest person in US history to assume the country's presidency, at 78 years old, and he's only the second US president to win a non-consecutive term, the first being Grover Cleveland back in 1893.This new Trump presidency kicked off even before he officially stepped into office, his people interviewing government officials and low-level staff with what have been called loyalty tests, to assess who's with them and who's against them, including questions about whether they think the previous election, which Trump lost to former president Biden, was rigged against Trump—a conspiracy theory that's popular with Trump and many of his supporters, but for which there's no evidence.There was also a flurry of activity in Israel and the Gaza Strip, last minute negotiations between then-president Biden's representatives gaining additional oomph when Trump's incoming representatives added their heft to the effort, resulting in a long-pursued ceasefire agreement that, as of the day I'm recording this at least, still holds, a few weeks after it went into effect; hostages are still being exchanged, fighting has almost entirely halted between Israeli forces and Hamas fighters in Gaza, and while everyone involved is still holding their breath, worried that the whole thing could fall apart as previous efforts toward a lasting ceasefire have, negotiations about the second phase of the three-phase ceasefire plan started yesterday, and everything seems to be going mostly according to plan, thus far.That said, other aspects of the second Trump presidency have been less smooth and less celebrated—outside of the president's orbit, at least.There have been a flurry of firings and forced retirements amongst long-serving public officials and employees—many seemingly the result of those aforementioned loyalty tests. This has left gaps in many fundamental agencies, and while those conducting this purge of said agencies have claimed this is part of the plan, and that those who have left or been forced to leave are part of the alleged deep state that has it in for Trump, and who worked against him and his plans during his first presidency, and that these agencies, furthermore, have long been overstaffed, and staffed with people who aren't good at their jobs—so these purges will ultimately save the government money, and things will be restructured to work better, for some value of “better,” anyway.There have been outcries about this seeming gutting of the system, especially the regulatory system, from pretty much everyone else, national and international, with some analysts and Trump opponents calling this a coup in all but name; doing away with the systems that allow for accountability of those in charge, basically, and the very structures that allow democracy to happen in the country. And even short of that, we're seeing all sorts of issues related to those empty seats, and could soon see consequences as a result of the loss of generational knowledge in these agencies about how to do things; even fairly basic things.All of which has been accompanied by a wave of revenge firings and demotions, and threats of legal action and even the jailing of Trump opponents. In some cases this has included pulling security details from anyone who's spoken out against Trump or his policies in the past, including those who face persistent threats of violence, usually from Trump supporters.On the opposite side, those who have stuck by Trump, including those who were charged with crimes related to the January 6 incursion at the US Capitol Building, have been pardoned, given promotions, and at times publicly celebrated by the new administration. Some have been given cushy jobs and promotions for the well-connected amongst his supporters; Ken Howery the partner of venture capitalist and owner of government contractor Palantir, Peter Thield, and close ally of serial CEO and enthusiastic Trump supporter Elon Musk, was recently made ambassador to Denmark, for instance.Some of these moves have caused a fair bit of chaos, including a plane colliding with a military helicopter, which may have been the result of understaffing at the FAA, alongside an executive order that froze the funding of federal programs across the country.That executive order has been blocked by judges in some areas, and the Trump administration has since announced that they've rescinded the memo announcing that shutdown, but the initial impact was substantial, including the closure of regional Social Security, Medicare, and Medicaid infrastructure, and the halting of government funded research and educational programs.Lots of people had their livelihoods threatened, lots worried they wouldn't be able to afford necessary medical procedures or be able to pay their bills, and many people worried this might cause the country to lose ground against competitors in terms of scientific and technological development, while also leading to some pretty widespread negative health outcomes—the government has also pulled health data, so information about disease spread and even pandemics is now inaccessible, further amplifying that latter concern.And that's just a very abbreviated, incomplete summary of some of the actions Trump's administration has taken in its first two weeks back in office; part of a desire on their part to hit the ground rolling and get rid of elements that might stand in their way as they fundamentally change the US system of government to better match their ambitions and priorities.What I'd like to talk about today, is a specific focus of this new administration—one that was a focus of Trump's previous administration, and to a certain degree Biden's administration too: that of US protectionism, and the use of tariffs against perceived enemies; but also, in Trump's case, at least, against long-time allies, as well.—On February 2 of 2025, Trump posted about tariffs on the twitter-clone he owns, Truth Social. And I'm going to quote the post in full, here, as I think it's illustrative of what he intends to do in this regard in the coming months.“The “Tariff Lobby,” headed by the Globalist, and always wrong, Wall Street Journal, is working hard to justify Countries like Canada, Mexico, China, and too many others to name, continue the decades long RIPOFF OF AMERICA, both with regard to TRADE, CRIME, AND POISONOUS DRUGS that are allowed to so freely flow into AMERICA. THOSE DAYS ARE OVER! The USA has major deficits with Canada, Mexico, and China (and almost all countries!), owes 36 Trillion Dollars, and we're not going to be the “Stupid Country” any longer. MAKE YOUR PRODUCT IN THE USA AND THERE ARE NO TARIFFS! Why should the United States lose TRILLIONS OF DOLLARS IN SUBSIDIZING OTHER COUNTRIES, and why should these other countries pay a small fraction of the cost of what USA citizens pay for Drugs and Pharmaceuticals, as an example? THIS WILL BE THE GOLDEN AGE OF AMERICA! WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID. WE ARE A COUNTRY THAT IS NOW BEING RUN WITH COMMON SENSE — AND THE RESULTS WILL BE SPECTACULAR!!!”So there are several things happening there, probably the most fundamental of which is the claim that other countries, including the US's allies, like Canada and Mexico, are taking advantage of the US when it comes to trade. This post followed Trump's signature of an executive order that applied a 25% tariff on all Canadian and Mexican imports, and a 10% tariff on all Chinese imports.A tariff is basically a tax on certain goods brought into a country from other countries.So the US might impose a tariff on Chinese cars in order to keep those cars from flooding US markets and competing with US- and European-made models. And that's what the US did under the first Trump, and then the Biden administration—it imposed a 100% border tax on electric vehicles from China, the theory being that these cars are underpriced because of how the Chinese economy works, because of how workers there are treated, and because the Chinese government subsidizes many of their industries, including the EV industry, so their cars are quite good and sold at low prices, but they got that way because they're competing unfairly, according to this argument. Chinese cars sold at their sticker price on the US market, then, might kill off US car companies, which is not something the US government wants.Thus, the price on Chinese EVs is effectively doubled on the US market, and that, on a practical level, kills that competition, giving US carmakers cover until they can up their game and compete with their foreign rivals.The usual theory behind imposing tariffs, then, if you're doing so for ostensible competitive reasons, at least, is that slapping an additional tax on such goods should allow local businesses to better compete against them, because that additional tax raises prices, and that means local offerings have a government-provided advantage. This can help level a perceptually imbalanced playing field, or it can rebalance things in favor of brands in your country.In reality, though, tariffs often, though not always, become a tax on customers, not on the companies they're meant to target.Chinese vehicles have had trouble coming to the US for other reasons beyond price, including a change in safety standards that would be regulatorily required, and a slew of advantages provided to US companies beyond the hobbling tariffs enforced on their foreign competition. But other goods come into the US market from all over the place, and when there's a tariff of say 10 or 25%, that tax is generally just tacked on to the sticker price on the US market, and US consumers thus pay more for something they might have otherwise bought more cheaply, sans tariffs.This creates an effective tax within various industries in the US economy, and it generally has an inflationary effect, as a consequence; things become more expensive, so the money people earn doesn't go as far.So the new Trump administration announced a new 10% tariff on all Chinese goods, and 25% tariffs on goods from Canada and Mexico, though energy products like oil from Canada will only face a 10% tariff.China has already lobbed a bunch of counter-tariffs at the US over the past few administrations, and it suggested it would add more to the tally in response to this new flat tariff, and now Canada and Mexico are rattling the same sabers, saying they won't stand by while their neighbor, with the world's biggest economy, elbows them out, causing possibly substantial damage to their local businesses that export goods to the US.The Canadian government has said it will apply 25% tariffs on $155 billion of American goods, including things like orange juice and appliances, those tariffs phased in over the next three weeks. And the Mexican government has said they'll do similar things, without giving specific details, as of yet.That means US manufacturers, companies that make stuff that ends up being sold in Canada and Mexico, could soon see comparable tariffs on their goods sold in those markets. That, in turn, could lead to significant economic consequences for such companies, but also everyday people living in all the affected countries, because of that inflationary effect—that effective tax on all of these goods.So even without those counter-tariffs, these new tariffs from the Trump administration against Canada, Mexico, and China to are expected to cause some real damage to the US economy, and to normal Americans. The Tax Foundation has estimated that they'll shrink US economic output by .4% and increase taxes by $1.2 trillion between 2025 and 2034, which on a micro-scale represents an average household tax increase of about $830 in 2025, alone; an extra $830 out of pocket per household on average because of these punishments that are ostensibly aimed at other countries, to try to get them to do things Trump wants them to do.Most of that $1.2 trillion tax increase is just from the Mexico and Canada tariffs: $958 billion of it, in fact. And during his first term in office, Trump's tariffs imposed about $80 billion worth of new taxes on American households in a single year, from 2018 to 2019—which isn't the same as just hiking taxes, but it amounts to the same outcome; and when compared to straight-up tax hikes, this represents one of the largest tax increases in several decades.Biden kept most of Trump's tariffs from his first administration in place when he stepped into office, and Biden added some of his own, too: especially on strategically vital tech components like computer chips, and next-step product categories like electric vehicles. And the net-impact of these tariffs on the US economy is generally considered to be mostly negative, in terms of practical tax hikes and its inflationary impact, but also in terms of reduced economic activity and employment.Trade wars can sound pretty tough and often serve as nationalistic red meat when reported upon, but most economists consider them to be the legislative equivalent of shooting oneself in the foot; completely open, free trade comes with downsides, as well, including the potential for a nation like China to dump products at low prices in foreign markets, putting local manufacturers out of business, then raising their prices once they've soaked up all the oxygen.But trade conflicts often result in a lot of downsides for everyday, tax-paying citizens, have long-term negative effects on businesses, and can also stoke inflation, causing secondary and tertiary negative effects that are hard to tamp down, later.Knowing this, many analysts have speculated that Trump might be using these tariffs as a sort of shot across the bow, wanting to renegotiate all sorts of agreements with enemies and allies, alike, and using the madman theory of negotiation, trying to convince those on the other side of the eventual negotiation that he's not in his right mind and is willing to burn it all down, wounding himself and his country in order to take out those who he feels have wronged him, if he doesn't get what he wants.There's a chance this could work for him, and his many threats and implied threats have already led to a whole lot of cowtowing and cancelled lawsuits against him and his people, even from folks and entities that have previously been staunchly against Trump and everything he stands for.There's also a good chance that these other governments will see whatever it is he's demanding from them as a small price to pay to get back to something approaching normal relations with the US, and normal dealings with the US's economy.His demands so far, though, have mostly revolved around seeming specters; he's alleging insufficient efforts aimed at drug imports into the US, and that both Mexico and Canada are enabling all manners of money laundering and transnational crimes; allegations that both countries deny, but which probably aren't the point to begin with. These accusations are generally being seen as a means of forcing these tariffs through without the usual process, which would take a while and present the opportunity for government systems to derail or weaken them, which happened to some of the tariffs Trump wanted to hurl at other governments during his first administration.So those seeming rationales might be primarily justifications to force these tariffs through, and it could be that the tariffs are meant to be negotiating leverage first and foremost, going away as soon as he gets what he wants—whatever that actually is.That said, it's also been speculated that a manman-theory-style false threat that's seen to be a false threat—hardcore, arguably nonsensical tariffs against allies, for instance—may not serve their purpose, because everyone knows they're false. That may mean those on the other end of them, if they hold their ground and are willing to suffer a little, could make it out the other side without giving too much away, the US suffering more, and thus, the president eventually giving up, coming up with justification for shifting to a new strategy but mostly just trying to lower inflation levels he raised, and bring life back to a stock market that he collapsed.Either way, it looks like there's a pretty good chance a lot of established norms and folkways will be trampled over the next few years, possibly with good reason, if you support the ends of this administration, at least, though by some indications maybe because of a fundamental misunderstanding of how economics works at this scale, or maybe for different reasons entirely: part of that larger plan to disrupt and demolish aspects of the US system of governance, making way for replacements that are more to the current administration's liking.Note: after recording this episode, but before it went live, the Chinese tariffs went into effect, but the tariffs against Mexico and Canada (and those countries' counter-tariffs) were paused. More information: https://www.nytimes.com/live/2025/02/04/us/trump-tariffs-news#here-are-the-latest-developmentsShow Noteshttps://www.npr.org/2024/05/06/1248065838/cheap-chinese-evs-us-buy-byd-electric-vehicleshttps://ustr.gov/usmcahttps://www.axios.com/2025/02/01/trump-cfpb-rohit-chopra-firedhttps://www.axios.com/2025/02/02/trump-netanyahu-gaza-ceasefire-hostage-dealhttps://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/https://taxfoundation.org/blog/trump-tariffs-impact-economy/https://www.axios.com/2025/01/03/biden-blocks-us-steel-nippon-japanhttps://truthsocial.com/@realDonaldTrump/posts/113934450227067577https://www.washingtonpost.com/business/2025/01/02/biden-blocks-nippon-us-steel-deal/https://www.axios.com/2025/01/03/nippon-steel-us-steel-sue-bidenhttps://restofworld.org/2024/china-tech-tariffs-which-countries-will-impose/https://www.nytimes.com/live/2025/02/02/us/trump-tariffshttps://www.nytimes.com/2025/02/02/business/trump-tariffs-china.htmlhttps://apnews.com/article/trump-tariffs-trade-china-mexico-canada-inflation-753a09d56cd318f2eb1d2efe3c43b7d4https://www.reuters.com/business/trump-stretches-trade-law-boundaries-with-canada-mexico-china-tariffs-2025-02-02/https://www.theverge.com/news/600334/trump-us-tariffs-imported-semiconductors-chipshttps://www.uschamber.com/international/u-s-chamber-tariffs-are-not-the-answerhttps://www.bbc.com/news/articles/c627nx42xelohttps://www.axios.com/2025/02/01/trump-canada-mexico-tariffshttps://www.bloomberg.com/news/articles/2025-02-02/mexico-pledges-retaliatory-tariffs-against-us-while-calling-for-cooperation?embedded-checkout=truehttps://www.cbsnews.com/news/what-are-tariffs-trump-canada-mexico-what-to-know/https://www.wsj.com/opinion/donald-trump-tariffs-25-percent-mexico-canada-trade-economy-84476fb2https://english.elpais.com/international/2025-02-02/from-cartels-to-terrorists-trump-imposes-a-new-paradigm-on-mexico-in-the-war-on-drugs.htmlhttps://www.theguardian.com/us-news/live/2025/feb/02/canada-mexico-china-donald-trump-trade-tariffs-us-politics-livehttps://budgetlab.yale.edu/research/economic-and-fiscal-effects-trump-administrations-proposed-tarrifshttps://www.nytimes.com/2025/01/31/us/trump-freeze-blocked.htmlhttps://en.wikipedia.org/wiki/2024_United_States_presidential_electionhttps://apnews.com/article/israel-palestinians-hamas-war-news-ceasefire-hostages-02-01-2025-bb560151db1437d0b35ac1d568457a46https://www.axios.com/2025/02/01/trump-moves-missed-plane-crash-deihttps://apnews.com/article/trump-tariffs-dei-federal-workers-plane-crash-733303f2c808834f4cc4b30dfaf308a7https://apnews.com/article/trump-federal-grants-pause-freeze-e5f512ae6f1212f621d5fa9bbec95e08 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

Donald Trump's long promised trade war has begun, sort of - the US president threatened to slap tariffs on America's biggest trading partners, before backtracking and striking a deal with Mexico and Canada. But a 10% tariff on Chinese goods has come into force and Beijing has retaliated by imposing hefty levies on a range of American imports and vowing to investigate Google over antitrust allegations.  So will Trump's tariff wars totally backfire? And how should other world leaders, including Keir Starmer, react? In this episode of the Fourcast, Krishnan Guru-Murthy is joined by Greece's former finance minister Yanis Varoufakis and Erica York of the Tax Foundation think tank. Produced by Calum Fraser, Silvia Maresca, Rob Thomson, Ka Yee Mak and Amani Hughes.

What will the future of tax policy look like? In this episode, we dive into the critical challenges and opportunities looming on the horizon, especially with major tax cuts set to expire, which could increase taxes for 62 percent of filers. Kyle Hulehan and Erica York are joined by Daniel Bunn, President and CEO of the Tax Foundation. Together, they explore what needs to happen in tax policy this year to avert a fiscal crisis, discussing the best- and worst-case scenarios for taxpayers. They also highlight how this year can serve as a vital reset for lawmakers and what key policies are at the top of Daniel's wish list.Tax Calculator: How the TCJA's Expiration Will Affect You See moreExpiring TCJA Tax Provisions in 2026 Would Produce Substantial Tax Hike across the US See moreOptions for Navigating the 2025 Tax Cuts and Jobs Act Expirations See moreA Tax Reform Plan for Growth and Opportunity: Details & Analysis See moreSupport the showFollow us!https://twitter.com/TaxFoundationhttps://twitter.com/deductionpodSupport the show

With slim majorities in the House and Senate, Republicans hope to narrow the fiscal deficit and extend many of the tax cuts from the 2017 Tax Cuts and Jobs Act (TCJA). A handful of fiscal hawks and the Senate's legislative rules could limit the GOP's ability to accomplish renewal of the TCJA's biggest provisions. President-elect Trump also campaigned extensively on raising tariffs to increase revenues and protect domestic industry. In this episode, we talk with Alan Cole, Senior Economist with the Tax Foundation's Center for Federal Tax Policy, about the Senate's budget reconciliation process, the most important aspects of the TCJA up for renewal this year, and the revenue impacts of tariffs.

What if everything you thought you knew about tariffs and taxes was wrong? In this episode of the Let People Prosper Show, Erica York, senior economist and research director at the Tax Foundation, unpacks the truth behind tariffs, the future of the Tax Cuts and Jobs Act, and why states compete to lead on tax reform. If you want to understand how these policies impact your wallet and why states like Texas and Kansas are shaking things up with bold reforms, this episode is for you. Erica's insights go beyond the headlines, offering a clear picture of what's driving economic change—and what it means for your future.

Alden Loury tells you everything you need to know about property taxes. Including…why we need them. Why we hate them. Why they're unfair and not up for the task we demand of them. How they force people to leave their neighborhoods. Ben adds a few words about TIFs. Which are property tax hikes. Even if corporate Chicago and all their city council flunkies pretend they aren't. Alden is a writer and editor for WBEZ and one of Chicago's foremost demographers. His views are his own. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Over the course of his campaign, President-elect Donald Trump made a lot of promises. What does that mean for the years ahead? Today we're answering your questions about Trump’s second term. We’ll explain whether the Trump administration could actually eliminate the Department of Education, how income tax cuts for tips and overtime pay could impact the economy, and where the Biden administration’s student debt relief plans go from here. Plus, if not tariffs, then what? Here’s everything we talked about today: “Could Trump actually get rid of the Department of Education?” from Vox “Is It Possible for Trump to Shut the Department of Education?” from The New York Times “Donald Trump Tax Plan Ideas: Details and Analysis” from the Tax Foundation “Both Harris and Trump want to eliminate federal taxes on tips” from Marketplace “As the election nears, Biden's student debt agenda is in tatters. Will it hurt Harris?” from USA Today “What a Trump presidency might mean for student loan forgiveness” from NPR “As Trump Threatens a Wider Trade War, the U.S. Confronts a Changed China” from The New York Times “Why Alternatives To Tariffs Can Be More Effective” from NPR “Nontariff Barrier: Definition, How It Works, Types, and Examples” from Investopedia Heads up: Tomorrow’s “Economics on Tap” episode won’t be livestreamed on our YouTube channel. But you can still listen wherever you get your podcasts.

Over the course of his campaign, President-elect Donald Trump made a lot of promises. What does that mean for the years ahead? Today we're answering your questions about Trump’s second term. We’ll explain whether the Trump administration could actually eliminate the Department of Education, how income tax cuts for tips and overtime pay could impact the economy, and where the Biden administration’s student debt relief plans go from here. Plus, if not tariffs, then what? Here’s everything we talked about today: “Could Trump actually get rid of the Department of Education?” from Vox “Is It Possible for Trump to Shut the Department of Education?” from The New York Times “Donald Trump Tax Plan Ideas: Details and Analysis” from the Tax Foundation “Both Harris and Trump want to eliminate federal taxes on tips” from Marketplace “As the election nears, Biden's student debt agenda is in tatters. Will it hurt Harris?” from USA Today “What a Trump presidency might mean for student loan forgiveness” from NPR “As Trump Threatens a Wider Trade War, the U.S. Confronts a Changed China” from The New York Times “Why Alternatives To Tariffs Can Be More Effective” from NPR “Nontariff Barrier: Definition, How It Works, Types, and Examples” from Investopedia Heads up: Tomorrow’s “Economics on Tap” episode won’t be livestreamed on our YouTube channel. But you can still listen wherever you get your podcasts.

Over the course of his campaign, President-elect Donald Trump made a lot of promises. What does that mean for the years ahead? Today we're answering your questions about Trump’s second term. We’ll explain whether the Trump administration could actually eliminate the Department of Education, how income tax cuts for tips and overtime pay could impact the economy, and where the Biden administration’s student debt relief plans go from here. Plus, if not tariffs, then what? Here’s everything we talked about today: “Could Trump actually get rid of the Department of Education?” from Vox “Is It Possible for Trump to Shut the Department of Education?” from The New York Times “Donald Trump Tax Plan Ideas: Details and Analysis” from the Tax Foundation “Both Harris and Trump want to eliminate federal taxes on tips” from Marketplace “As the election nears, Biden's student debt agenda is in tatters. Will it hurt Harris?” from USA Today “What a Trump presidency might mean for student loan forgiveness” from NPR “As Trump Threatens a Wider Trade War, the U.S. Confronts a Changed China” from The New York Times “Why Alternatives To Tariffs Can Be More Effective” from NPR “Nontariff Barrier: Definition, How It Works, Types, and Examples” from Investopedia Heads up: Tomorrow’s “Economics on Tap” episode won’t be livestreamed on our YouTube channel. But you can still listen wherever you get your podcasts.

Steve Forbes discusses the Tax Foundation's annual state tax competitiveness Index, which illustrates unambiguously how a benign tax regime leads to major league growth and success.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.